Stock Code: 300277 Stock ID: Hirisun Announcement No.:2026-006
Hangzhou Hirisun Technology Incorporated
Announcement on the Result of Share Exchange forAbsorption Merger of
Hangzhou Turbine Power Group Co., Ltd., Change in Shares, and Listing of
New Shares
by the Company
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.
Important Content Note:
1. The type of share listing this time is a merger absorption share; the share subscription method is
offline, with a total of 1,174,904,765 new shares listed, all of which are tradable shares. The share
listing and trading date is February 11, 2026. Based on the exchange price of 9.35 yuan per share
in this transaction by Hirisun and HTC, the market value added from the share subscription is
10,985,359,552.75 yuan.
2. After the share exchange is completed, Hirisun's total share capital is 1,516,604,765 shares.
According to the "Capital Verification Report" (No. 44 [2026] Pan-China Verification) issued by
Pan-China Certified Public Accountants (LLP) on January 28, 2026, as of January 27, 2026,
Hirisun's registered capital is changed to RMB 1,516,604,765.00, and the cumulative paid-in
capital is RMB 1,516,604,765.00.
3. According to the 2024 financial data of Hirisun and the 'Pro Forma Audit Report' issued by
Pan-China Certified Public Accountants (LLP), the basic earnings per share before the transaction
are 0.0282 yuan per share, and the basic earnings per share after the transaction (pro forma) are
0.3575 yuan per share.
4. According to the " Confirmation of Acceptance of Share Registration Application" issued by the
Shenzhen Branch of China Securities Depository and Clearing Corporation Limited on February 5,
2026, it has accepted the Company's share registration for this issuance. The relevant shares will
be officially included in the Company's shareholder register once the registration is completed.
The pre-registration of the shares for this issuance was completed on February 5, 2026.
5.The total number of shares to be listed and circulated this time is 1,174,904,765 shares. Among
them, according to the relevant regulations such as the "Measures for the Administration of Major
Asset Restructuring of Listed Companies" (revised in May 2025), Hangzhou State-owned Capital
Investment and Operation Co., Ltd. (hereinafter referred to as "Hangzhou Capital"), Hangzhou
Turbine Holdings Co., Ltd. (hereinafter referred to as "Turbine Holdings"), Zhejiang Industrial
Investment Group Co., Ltd., and Zhejiang Development Asset Management Co., Ltd., the Hirisun
A-shares they held before this transaction and the Hirisun A-shares acquired through share
exchange in this transaction shall not be transferred within 36 months from the date when the
newly issued shares of Hirisun are issued on the Shenzhen Stock Exchange.
6.Starting from the listing date of the newly added shares (February 11, 2026), Hirisun A shares
will be displayed in the stock accounts of the original B-share shareholders of HTC, and the
corresponding stock value will be reflected in the total value of the investors' accounts. This is a
special reminder for the original B-share shareholders of HTC to actively communicate with their
brokerage firms to handle RMB third-party custody and other transaction settlement procedures,
to check whether the shareholder’s securities account, fund account, and the reported Shenzhen
custody unit have been linked, and to ensure that the shareholder's transaction and settlement
procedures are complete so that they can sell Hirisun shares in a timely manner afterwards (except
for shares subject to special trading restrictions under laws, regulations, or regulatory
requirements). Before the listing of the newly added Hirisun A shares, the original B-share
shareholders of HTCshall not cancel accounts, modify account information, or conduct other
related operations to avoid affecting the subsequent registration and trading of Hirisun shares.
I.Approval of this merger and the changes in the Company's shareholding after completion
Hangzhou Hirisun Technology Incorporated. (hereinafter referred to as "Hirisun," "the surviving
company,"the “Company" or "the Company") will absorb and merge Hangzhou Turbine Power
Group Co., Ltd. (hereinafter referred to as "HTC") by issuing A-shares to all the shareholders of
HTC in a share exchange (hereinafter referred to as "this transaction" or "this merger"). Hirisun is
the absorbing party, and HTC is the absorbed party. This transaction has obtained the registration
approval from the China Securities Regulatory Commission: "Approval of Registration for
Hangzhou Hirisun Technology Incorporated. to Absorb and Merge Hangzhou Turbine Power
Group Co., Ltd." (No
