Stock Code: 200771           Stock ID: Hangqilun B          Announcement No.: 2024-83




                           Hangzhou Turbine Power Group Co., Ltd.
            Announcement on the progress of the major asset restructuring


The members of the Board and the Company acknowledge being responsible for the truthfulness,
accuracy, and completeness of the announcement. Not any false record, misleading statement or
significant omission carried in this announcement.



     1. Basic information of the transaction

     Hangzhou Turbine Power Group Co., Ltd. (hereinafter referred to as "Hangzhou Turbine" or the

"Company") and Hangzhou Hirisun Technology Incorporated (hereinafter referred to as "Hirisun") are

planning to merge Hangzhou Turbine by Hirisun by way of issuing A shares to all shareholders of

Hangzhou Turbine(hereinafter referred to as the "Transaction"). This transaction constitutes a major asset

restructuring as stipulated in the Administrative Measures for the Major Asset Restructuring of Listed

Companies, and also constitutes a related party transaction of the Company, and is expected to constitute

a restructuring and listing. After the completion of this transaction, Hangzhou Turbine will terminate its

listing and cancel its legal personality, and Hirisun will inherit and undertake all assets, liabilities, business,

personnel, contracts and all other rights and obligations of Hangzhou Turbine . The A-shares issued by

Hirisun for the transaction will apply for listing and circulation on the GEM of the Shenzhen Stock

Exchange.

     II. The progress of the transaction

     After applying to the Shenzhen Stock Exchange, the Company's shares（Stock ID: Hangqilun B，

Stock Code: 200771）have been suspended from the opening of the market on October 28, 2024

(Monday), and the suspension time is expected to be no more than 10 trading days. For details, please

refer to the Company's announcement on the planning of major asset restructuring matters and the

Company's suspension of share trading (Announcement No.: 2024-58) disclosed on the website of the

Shenzhen Stock Exchange and the designated information disclosure media on October 28, 2024.


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     On November 9, 2024, the "Proposal on the Share Exchange and Absorption and Merger of

Hangzhou Turbine. Namely the Related Party Transaction Plan by Hangzhou Hirisun Technology

Incorporated and other proposals related to this transaction were deliberated and approved in the 10th

meeting of the 9th session of the board of directors of Hangzhou Turbine Power Group Co., Ltd. For

details, please refer to the "Share Exchange and Merger of Hangzhou Turbine Power Group Co., Ltd.

Namely the Related Party Transaction Plan by Hangzhou Hirisun Technology Incorporated ." (hereinafter

referred to as the "Plan") and other relevant announcements issued by the Company on the website of the

Shenzhen Stock Exchange and the designated information disclosure media. After applying to the

Shenzhen Stock Exchange, the Company's shares will resume trading from the opening of the market on

November 11, 2024 (Monday).

     Since the disclosure of the transaction plan, the Company and the relevant parties have actively

promoted the work of the transaction. After the completion of the due diligence, audit, valuation and the

related work to the transaction, the Company will reconvene the board of directors to review the relevant

matters of the transaction, and perform the relevant procedures and information disclosure obligations in

strict accordance with the provisions and requirements of relevant laws and regulations.

     III. Risk Reminder

     The transaction is subject to the necessary internal decision-making procedures and the approval of

the competent regulatory authorities before it can be formally implemented, and there is still great

uncertainty as to whether it can be implemented, and the Company disclosed in detail the possible risk

factors and procedures to be performed in the plan disclosed on November 11, 2024.

     According to the relevant regulations of the Shenzhen Stock Exchange, the Company will fulfill its

information disclosure obligations in a timely manner according to the progress of the transaction, and

will issue an announcement on the progress of the transaction every 30 days when the notice of the

shareholders' meeting to consider the transaction matters has not been issued.

     The relevant information is subject to the announcement issued by the Company in the designated

information disclosure media. Please pay attention to the follow-up announcement and pay attention to

the investment risks.



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   This announcement is hereby made.



The Board of Directors of Hangzhou Turbine Power Group Co., Ltd.
                      December 11, 2024




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