Hangzhou Turbine Power Group faces delisting after merger with Hirisun

Hangzhou Turbine Power Group Co., Ltd. (HTC) is undergoing a voluntary delisting process from the Shenzhen Stock Exchange (SZSE) as it prepares to be absorbed and merged by Hangzhou Hirisun Technology Incorporated (Hirisun). This transaction, which involves Hirisun issuing A-shares to HTC's shareholders, will result in HTC losing its independent legal status and being deregistered. The SZSE officially accepted HTC's delisting application on December 2, 2025.

The delisting is expected to occur within five trading days after the SZSE announces the termination of the listing. Following delisting, HTC’s shares will be converted into Hirisun shares and subsequently listed and traded on the SZSE. Investors are advised that their account value may not reflect the corresponding market value during the interim period before the Hirisun shares are listed.

In a related move, Hangzhou Turbine Power Group Co., Ltd. also announced the absorption and merger of its wholly-owned subsidiary, Zhejiang Steam Turbine Complete Set Technology Development Co., Ltd., which will subsequently be deregistered. This internal merger aims to consolidate resources, optimize management, and enhance operational efficiency, with no substantial impact on the company's financial condition or shareholder interests.