Zoomlion: Reorganization and Listing of Proposed Spin-off Subsidiary Zoomlion High Machinery

Zoomlion announced，The company signed a contract with Luchang Technology《Intention Agreement on Major Asset Restructuring of Shenzhen Luchang Technology Co., Ltd.》，Luchang Science and Technology intends to purchase Hunan Zoomlion Intelligent AeriaL Work Machinery Co., Ltd., a holding subsidiary of the company, by issuing shares.(Short name“Zoomlion high machine”)100%Equity and raising matching funds。The agreement signed this time is only an intentional agreement.，The specific transaction plan and terms shall be subject to the formal transaction agreement finally signed.。

The company intends to spin off its subsidiary, Zhonglian High Machinery.，Through the way of reorganization with Luchang Science and Technology, the reorganization and listing in Shenzhen Stock Exchange are realized.。The transaction does not involve the issuance of shares by the company.，Nor will it result in a change of control of the company.，Constituting affiliated transactions of the Company，Does not constitute a major asset reorganization of the company。

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