China CSSC holdings to absorb China Shipbuilding Industry in share swap merger

China CSSC Holdings Limited (China CSSC Holdings) will acquire China Shipbuilding Industry Company Limited (China Shipbuilding Industry) through a share swap, issuing A-shares to all China Shipbuilding Industry shareholders. The share swap's equity registration date is September 4, 2025. China Shipbuilding Industry shares will convert to China CSSC Holdings shares at a ratio of 1:0.1339.

China Shipbuilding Industry A-shares will cease trading on September 5, 2025. After the merger, China Shipbuilding Industry's assets, liabilities, business, personnel, contracts, and all other rights and obligations will transfer to China CSSC Holdings. New China CSSC Holdings A-shares will then be listed and traded on the Shanghai Stock Exchange.

The merger values China CSSC Holdings shares at 37.84 yuan per share and China Shipbuilding Industry shares at 5.05 yuan per share, based on average trading prices. After considering 2024 dividend distributions, the adjusted share swap prices are 37.59 yuan for China CSSC Holdings and 5.032 yuan for China Shipbuilding Industry, resulting in the final 1:0.1339 swap ratio.