Hangzhou Steam Turbine eyes reverse merger for B-share woes

Hangzhou Steam Turbine Power Group (SZSE:200771), a B-share company, is set to be absorbed by Hangzhou Hirisun Technology (an A-share listed firm) through a stock swap, a move designed to overcome longstanding challenges and capitalize on a stronger capital market presence. Under the proposed reverse merger, Hirisun will issue A-shares to HTC shareholders in exchange for their B-shares, which will then be delisted.