Hangzhou Steam Turbine shareholders face cash option rights decision

Hangzhou Steam Turbine Co. Ltd. has issued an announcement regarding cash option rights for its share-for-share absorption merger with Hangzhou Hailianxun Technology Co. Ltd. The company's shares will be suspended from trading starting November 5, 2025, to enter the cash option rights distribution, exercise, and settlement phase. A total of 33,079,662 cash option rights have been distributed to dissenting shareholders registered as of the last trading day.

Dissenting shareholders can declare their intention to exercise these rights between November 19 and November 25, 2025, from 9:30-11:30 AM and 13:00-15:00 PM, at a price of HK$7.54 per share. The company noted that its current stock price is higher than the exercise price, and exercising the cash option right may result in a loss for investors. Hangzhou Capital will act as the provider for these cash option rights.

The reference share price for Hangzhou Steam Turbine, based on the closing price on the trading day before the initial disclosure, was HK$13.09 per share, indicating a premium of 73.61% over the exercise price. As of November 4, 2025, the closing price was HK$13.30 per share, a 76.39% premium. The cash option rights will not be listed for trading.