Stock Code: 200771 Stock ID: Hangqilun B Announcement No.:2025-128
Hangzhou Turbine Power Group Co., Ltd.
Announcement on the Application to Terminate Listing on the
Shenzhen Stock Exchange
The members of the Board and the Company acknowledge being responsible for the truthfulness,
accuracy, and completeness of the announcement. There are no false records, misleading
statements, or significant omissions in this announcement.
Hangzhou Hirisun Technology Incorporated .(hereinafter referred to as "Hirisun") plans to
absorb and merge Hangzhou Turbine Power Group Co., Ltd. (hereinafter referred to as "HTC" or
the "Company") by issuing A-shares to all share exchange shareholders of HTC(hereinafter
referred to as the "Transaction"). The relevant matters of the Transaction have been approved at
HTC's Second extraordinary general meeting of shareholders in 2025 and have obtained the
approval from the China Securities Regulatory Commission (hereinafter referred to as the "CSRC")
by the document "Approval of Registrationfor Hangzhou Hirisun Technology Incorporated. to
Absorb and Merge Hangzhou Turbine Power Group Co., Ltd." (No. 2141 [2025]CSRC Permit).
According to the plan for this merger, Hirisun will issue A-shares to all the Company's
shareholders in exchange for their shares, absorbing and merging the Company. Upon completion
of the Transaction, HTC will no longer have independent legal status and will be deregistered,
which falls under the circumstances specified in Article 9.7.1, Paragraph 1, Item (4) of the
Shenzhen Stock Exchange Listing Rules, namely 'a company ceases to have independent legal
status and is deregistered due to a newly established merger or an absorption merger.' The
Company has submitted the application documents to the Shenzhen Stock Exchange (hereinafter
referred to as the 'SZSE') for voluntary delisting.
The Company's independent financial advisor, China Securities Co., Ltd., issued the "China
Securities Co., Ltd. Financial Advisor Opinion on the Voluntary Termination of Listing of
Hangzhou Turbine Power Group Co., Ltd.", stating: "HTC voluntarily terminating its listing due
to this Transaction complies with the 'Shenzhen Stock Exchange Listing Rules' and other relevant
laws, regulations, and normative documents. The voluntary termination of listing and this merger
have obtained the approvals and authorizations required at the current stage according to relevant
laws. HTC has fully disclosed the reason for terminating the listing and the arrangement for the
disposition of shares after termination, and has made special arrangements for cash options for
dissenting shareholders. The voluntary termination of listing is beneficial to protecting the
interests of all shareholders."
The Company's legal advisor, Zhejiang T & C Law Firm, has issued the "Legal Opinion of
T&C Law Firm on the Termination of Listing of Hangzhou Turbine Power Group Co., Ltd.",
stating that "1. HTC's termination of listing due to this share exchange absorption merger complies
with the circumstances under which an application to voluntarily terminate listing can be made
according to the Listing Rules; 2. As of the date of issuance of this legal opinion, the Transaction
has obtained the authorizations and approvals required at the current stage, and such approvals and
authorizations are legal and valid; HTC's voluntary termination of listing due to this share
exchange absorption merger still requires approval from the Shenzhen Stock Exchange."
The Company will publish related announcements after the Shenzhen Stock Exchange
accepts the Company's application for voluntary delisting of its shares, and will publish related
delisting announcements after the Shenzhen Stock Exchange approves the Company's application
for voluntary delisting. Investors are advised to pay attention to the Company's subsequent related
announcements.
This announcement is hereby made.
The Board of Directors of Hangzhou Turbine Power Group Co., Ltd.
November 27,2025
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