China Shipbuilding Industry to merge with CSSC Heavy Industry

** China Shipbuilding Industry Corporation Limited (CSSC), stock code SSE:601989, plans to merge with its subsidiary, CSSC Heavy Industry, through a share exchange. The merger aims to consolidate the strategic integration following central government initiatives to promote industry competitiveness. The proposed merger values China Shipbuilding Industry at CNY 37.59 per share, while CSSC Heavy Industry is valued at CNY 5.032 per share. Each CSSC Heavy Industry share can be converted to 0.1339 of China Shipbuilding Industry shares.