Tongyu Heavy Industry

Zhuhai Port Group and its parent Zhuhai Communications Group signed an agreement to transfer 604 million shares (15.50% of total shares) of Tongyu Heavy Industry to Guohui Capital for CNY 2.22 per share, total CNY 1.341 billion. Additionally, voting rights of 188 million shares (4.83%) are entrusted to Guohui Capital for 36 months. After the transaction, Guohui Capital will become the controlling shareholder, and the actual controller will become Shandong SASAC.

Tongyu Heavy Industry's subsidiary Qingdao Baojian Technology Engineering will invest 667 million yuan to build a large offshore wind power product capacity enhancement project at its existing plant in Jimo, Qingdao. The project will add annual capacity of 360 sets of large offshore wind power structural parts and machining capability, with a one-year construction period.

Tongyu Heavy Industry plans to invest 763.6 million yuan to build a multi-functional super-heavy forging press and supporting equipment at its existing plant in Dezhou High-tech Industrial Development Zone, Shandong. The construction period is two years.