Hirisun Technology absorbs Hangzhou Turbine Power Group in share-exchange merger

The China Securities Regulatory Commission (CSRC) has approved Hangzhou Hirisun Technology Incorporated's share-exchange absorption merger of Hangzhou Turbine Power Group Co., Ltd. The approval, received on September 26, 2025, authorizes Hirisun to issue an additional 1,174,904,765 A-shares to all shareholders of Hangzhou Turbine Power Group for the transaction.

The merger will be executed in accordance with the application documents submitted to the Shenzhen Stock Exchange. The CSRC approval is valid for 12 months from its issuance date.

Hangzhou Turbine Power Group's board of directors will manage all aspects of the transaction as per the CSRC's approval, relevant laws, and shareholder authorization, ensuring timely information disclosure. Investors are advised to monitor official announcements for updates.