The Board of Zoomlion Heavy Industry Science and Technology Co., Ltd. (SZSE:000157) intent to spin-off 61.4% stake in Hunan Zoomlion Intelligent Aerial Work Machinery Co., Ltd on January 16, 2023. Under the terms of transaction, Zoomlion Heavy Industry Science and Technology proposes to spin-off and separately list its subsidiary, Zoomlion Aerial Machinery IN SHENZHEN Stock exchange, through a reorganization with RoadRover. The Transaction neither involves the issuance of shares by the Company, nor results in a change in control of the Company. The Company will subsequently perform all necessary decision-making and approval procedures in accordance with the relevant laws and regulations and its articles of association (the ?Articles?), and comply with its obligation to make timely disclosures based on the progress of the Transaction.