China CSSC Holdings to absorb Offshore & Marine in share exchange merger

China CSSC Holdings will absorb CSSC Offshore & Marine Engineering Group Company Limited through a share exchange, issuing A-shares to all CSSC Offshore & Marine shareholders. This merger has received regulatory approval from the China Securities Regulatory Commission.

CSSC Offshore & Marine's A-share listing will terminate on September 5, 2025. The share exchange record date is September 4, 2025. Registered CSSC Offshore & Marine shareholders will convert their shares into China CSSC shares at a ratio of 1:0.1339, meaning one CSSC Offshore & Marine share will convert to 0.1339 China CSSC shares.

The pricing reference date for the transaction was the first board meeting resolution announcement date of the absorbing and absorbed parties. China CSSC's share exchange price is CNY 37.84 per share, and CSSC Offshore & Marine's share exchange price is CNY 5.05 per share, based on the average stock trading price over 120 trading days prior to the reference date. After accounting for dividend distributions in 2024, the adjusted share exchange prices are CNY 37.59 for China CSSC and CNY 5.032 for CSSC Offshore & Marine.