Zoomlion Heavy Industry Science and Technology : THE PROGRESS OF PROPOSED DISPOSAL OF A SHARES BY SUPERVISOR AND SENIOR MANAGEMENT OF THE COMPANY

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

Zoomlion Heavy Industry Science and Technology Co., Ltd.*

中聯重科股份有限公司

(a joint stock company incorporated in the People's Republic of China)

(Stock Code: 1157)

THE PROGRESS OF PROPOSED DISPOSAL

OF A SHARES BY SUPERVISOR AND SENIOR MANAGEMENT

OF THE COMPANY

Reference is made to the announcement of Zoomlion Heavy Industry Science and Technology Co., Ltd. (the "Company") dated 5 December 2019 (the "Announcement") in relation to the proposed disposal of A shares in the Company by a supervisor and members of the senior management of the Company. Unless otherwise specified, capitalised terms used in this announcement shall have the same meanings as those defined in the Announcement.

The Company recently received notifications from the Relevant Persons regarding their disposal of A shares in the Company. As of 31 December 2019, the number of A shares in the Company disposed by the Relevant Persons by way of centralised bidding was more than half of the proposed number of A shares to be disposed. The Company hereby announces the following details regarding the progress of the proposed disposal in accordance with the Several Regulations on the Reduction in Shareholding by Shareholders, Directors, Supervisors and Senior Management of the Listed Companies (the "Regulations") as issued by China Securities Regulatory Commission, and the Detailed Implementation Rules on the Reduction in Shareholding by Shareholders, Directors, Supervisors and Senior Management of the Listed Companies of the Shenzhen Stock Exchange (the "Implementation Rules"):

1

I. Details of the disposal of A shares

			Price range	Average	Number of	Disposed
			price of
Name	Method of disposal	Timing of disposal	of disposal	A shares	shareholding
disposal
			(RMB)	disposed	(%)
			(RMB)
He Jianming	Centralised bidding	30 December 2019	6.54-6.59	6.57	420,300	25
		30 December 2019
Xiong Yanming	Centralised bidding	and	6.56-6.65	6.58	1,035,759	25
		31 December 2019
Sun Changjun	Centralised bidding	30 December 2019	6.52-6.60	6.57	896,100	25
Guo Xuehong	Centralised bidding	30 December 2019	6.54-6.61	6.57	955,200	25
Fu Ling	Centralised bidding	30 December 2019	6.55-6.60	6.57	758,000	25
Du Yigang	Centralised bidding	30 December 2019	6.56-6.61	6.58	808,700	25
Wang Yongxiang	Centralised bidding	30 December 2019	6.56-6.60	6.58	350,000	25
Luo Kai	Centralised bidding	30 December 2019	6.56-6.60	6.58	362,500	25
Tian Bing	Centralised bidding	30 December 2019	6.56-6.60	6.58	490,000	25
Tang Shaofang	Centralised bidding	30 December 2019	6.58-6.60	6.59	350,000	25
Shen Ke	Centralised bidding	30 December 2019	6.56-6.60	6.58	1,311,000	25

II. Details of the shareholding before and after the disposal of A shares

	Number of A shares held	Number of A shares held
	before the disposal	after the disposal
Name		Percentage to		Percentage to
Number of A	the total issued	Number of A	the total issued
	share capital of	share capital of
	shares	shares
	the Company	the Company
		(%)		(%)
He Jianming	1,681,947	0.0214	1,261,647	0.0160
Xiong Yanming	4,143,830	0.0526	3,108,071	0.0395
Sun Changjun	3,584,825	0.0455	2,688,725	0.0342
Guo Xuehong	3,821,145	0.0485	2,865,945	0.0364
Fu Ling	3,032,397	0.0385	2,274,397	0.0289
Du Yigang	3,235,142	0.0411	2,426,442	0.0308
Wang Yongxiang	1,400,000	0.0178	1,050,000	0.0133
Luo Kai	1,450,000	0.0184	1,087,500	0.0138
Tian Bing	1,960,000	0.0249	1,470,000	0.0187
Tang Shaofang	1,400,000	0.0178	1,050,000	0.0133
Shen Ke	5,244,644	0.0666	3,933,644	0.0500

2

1. Others

1. The implementation of the disposal by the Relevant Persons complies with the proposed disposal as disclosed in the Announcement and does not violate the relevant requirements of the laws and regulations and regulatory documents including the Company Law of the People's Republic of China, the Securities Law of the People's Republic of China, the Regulations and the Implementation Rules. The disposal does not violate any relevant intention or any relevant undertaking of the Relevant Persons.
2. The implementation of the proposed disposal will neither lead to any change in control of the Company nor have any material effect on the corporate governance structure and the continual operation of the Company.
3. The Company will continue to pay attention to the progress of the proposed disposal and fulfill its obligation of information disclosure in a timely manner in accordance with the relevant requirements of the laws and regulations.

By order of the Board

Zoomlion Heavy Industry Science and Technology Co., Ltd.*

Zhan Chunxin

Chairman

Changsha, PRC, 31 December 2019

As at the date of this announcement, the executive director is Dr. Zhan Chunxin; the non-executive directors are Mr. He Liu and Mr. Zhao John Huan; and the independent non-executive directors are Mr. Zhao Songzheng, Mr. Lai Kin Keung, Ms. Liu Guiliang and Mr. Yang Changbo.

* For identification purpose only

3