Zoomlion intends to spin off Zoomlion High Machinery and achieve listing through reorganization with Luchang Science and Technology.

Zoomlion announced，In order to realize the subsidiary of the company, Hunan Zoomlion Intelligent AeriaL Work Machinery Co., Ltd.(Hereinafter referred to as“Zoomlion high machine”)Direct connection with the capital market，And then give full play to the advantages of the listing platform.，Improve the financing efficiency of Zoomlion，Increase further investment and research and development of AeriaL Work Machinery products，At the same time, improve the corporate governance level of the AeriaL Work Machinery sector.，Promote the reasonable valuation of the company's different businesses by the capital market.，Maximize the interests of all shareholders，The company intends to spin off its subsidiary, Zhonglian High Machinery, through Shenzhen Luchang Technology Co., Ltd.(Hereinafter referred to as“Luchang Technology”)Reorganization to achieve listing。

The split plan is proposed as follows:：Luchang Technology Intends to Company、Beijing Zoomlion Industrial Investment Fund Partnership(Limited partnership)(Hereinafter referred to as“Zoomlion Industrial Fund”)And other 29 counterparties issued shares to purchase their holdings of Zhonglian Gaoji 100%Equity，The transaction price is about 94..2.4 billion yuan;Luchang Technology intends to raise matching funds by issuing shares to no more than 35 specific targets.，The total amount of raised funds shall not exceed 33.500 million yuan，Not more than 100% of the transaction price of the assets purchased by issuing shares in this transaction%，The number of shares issued shall not exceed 30% of the total share capital of Luchang Technology after the completion of the acquisition of assets by issuing shares%。

Negotiated by all parties to the transaction，Luchang Technology has determined that the issue price of the assets purchased by issuing shares is 23..89 yuan/Shares，Not less than 80% of the average trading price of Luchang Science and Technology Stock in the 20 trading days before the pricing benchmark%，Conform《Reorganization Management Measures》Relevant provisions of。

The announcement said，After deducting the issuance fee, the matching funds raised by the issuance of shares of Luchang Science and Technology are intended to be used to supplement the working capital or repay the debts of Luchang Science and Technology and Zhonglian Gaoji.、Zhonglian High Machinery Mexico Production Base Construction Project and other purposes，Among them, the proportion used to supplement working capital and repay debts shall not exceed 25% of the consideration of this transaction%Or 50% of the total amount of matching funds raised%。

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