China Shipping: Major asset restructuring application accepted by Shanghai Stock Exchange

On May 8th, China Shipbuilding announced that the company plans to issue class A shares to all China Heavy Industry's share-exchange shareholders by way of share-exchange absorption and merger of China Heavy Industry. On May 8th, 2025, the company received the "Notice on Acceptance of the Application for the Purchase of Assets by China Shipbuilding Industry's joint stock company" issued by the Shanghai Stock Exchange, and the Shanghai Stock Exchange decided to accept it and conduct a review according to law. The transaction still needs to be reviewed and approved by the Shanghai Stock Exchange and registered by the China Securities Regulatory Commission and other necessary approvals, approvals, filings or licenses (if necessary) that may be involved as required by relevant laws and regulations before it can be officially implemented. There is still uncertainty as to whether it can be implemented.