Zoomlion to acquire Beijing Leasing equity in related transaction

Zoomlion Heavy Industry Science and Technology (SZSE:000157) announced its intention to purchase the remaining 45% and 36% equity stakes in Zhonglian Heavy Industry Finance Leasing (Beijing) Co., Ltd. ("Beijing Leasing") from Hunan Xiangjiang Investment Holding Group Co., Ltd. ("Xiangjiang Group") and Hunan Dice Investment Co., Ltd. ("Dice Investment") respectively, through a public delisting process. The reserve prices for the 45% and 36% stakes are set at CNY 90,405.01 million and CNY 72,324.01 million, respectively. Once completed, Zoomlion will hold 100% equity in Beijing Leasing, making it a wholly-owned subsidiary and consolidating its financial statements. The transaction is classified as a related transaction due to Xiangjiang Group holding more than 5% of Zoomlion's shares. The company believes the acquisition will strengthen its financial capabilities, promote digital management strategies, and reduce related party transactions.