China CSSC completes merger with CSSC Heavy Industry

China CSSC Holdings has completed its share-for-share merger with China Shipbuilding Heavy Industry Company Limited, issuing 3,053,192,530 new A-share common stocks. This transaction became effective with the listing of new shares on September 16, 2025, involving a share exchange ratio of 1:0.1339. This strategic consolidation aims to reduce intra-industry competition, enhance operational efficiency, and strengthen the company's core competitiveness in the global shipbuilding market.

Following the merger, China CSSC Holdings' total share capital increased to 7,525,621,288 shares. Key shareholders, including China Shipbuilding Group and Dalian Shipbuilding Investment Holding, are subject to a six-month lock-up period for their newly acquired shares, totaling 1,454,168,398 shares. CSSC Heavy Industry's shares ceased trading on September 5, 2025, and the company will be delisted, with China CSSC Holdings assuming all assets, liabilities, and operations.

The merger was approved by relevant authorities, including the China Securities Regulatory Commission, and both companies' boards and shareholders. All dissentient shareholders' requests for acquisition rights and cash options were completed, with no valid declarations for acquisition rights and no shareholders declaring for cash options.