Deepening the development potential of high quality, Zhonglian Gaoji, a subsidiary of Zhonglian Heavy Branch Holdings, intends to reorganize and list with Luchang Science and Technology.

January 16，Zoomlion issued a notice，Company and Shenzhen Luchang Technology Co., Ltd.（Hereinafter referred to as“Luchang Technology”）Signed《Intention Agreement on Major Asset Restructuring of Shenzhen Luchang Technology Co., Ltd.》，Luchang Technology intends to purchase Hunan Zoomlion Intelligent AeriaL Work Machinery Co., Ltd., a subsidiary of Zoomlion Heavy Branch Holdings, by issuing shares.（Hereinafter referred to as“Zoomlion high machine”）100%Equity and raising matching funds（Hereinafter referred to as“This transaction”）。The company said，This transaction，It will realize the direct connection between Zhonglian High Machine and the capital market.，And then give full play to the advantages of the listing platform.，Promote the realization of high-quality development。

The announcement said，The company intends to spin off its subsidiary, Zhonglian High Machinery.，By reorganizing with Luchang Technology，Realize the reorganization and listing in Shenzhen Stock Exchange。This transaction does not involve the issuance of shares by the company.，It will not lead to the change of control right of Zoomlion.，Constituting affiliated transactions of the Company，It does not constitute a major asset reorganization of Zoomlion。

It is understood that，The main business of Zoomlion is the research and development of intelligent aerial work platform.、Production、Sales and service，It is a leading enterprise in the aerial work platform industry in China.。Luchang Technology is controlled by Zoomlion.AShares of listed companies，Mainly engaged in automotive information、Development of intelligent and smart travel related products、Production、Sales and service，The main product is intelligent cockpit.、Intelligent assistant driving and Vehicle networking related products。

In recent years，With the rapid progress of technology and products related to AeriaL Work Platforms in China,，The advantages of safety and efficiency of AeriaL Work Platforms are increasingly recognized by the market.，Downstream application scenarios continue to expand，China's aerial work platform industry has ushered in a critical period of rapid development.。

This time, Zoomlion plans to reorganize its subsidiary Zoomlion High Machinery and Luchang Technology.，It is conducive to improving the financing efficiency of Zoomlion.，Increase further investment and research and development of aerial work platform products，At the same time, improve the level of corporate governance of the aerial work platform sector.，Promote the reasonable valuation of the company's different businesses by the capital market.，Maximize the interests of all shareholders，Achieve high-quality development。

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