Sany Marine Heavy Industry received an investment of 160 million yuan from the CDB Development Fund

On May 6, Sany International announced that Sany Marine Heavy Industry, Sany Offshore Industry, Sany Group Co., Ltd. and CDB Development Fund have entered into an investment agreement, and CDB Development Fund has agreed to invest RMB 160 million in Sany Marine Heavy Industry (an indirect wholly-owned subsidiary of Sany International). According to the valuation report released by an independent third-party valuer on March 18, 2016, CDB Development Fund will subscribe for 14.56% of the expanded registered capital of Sany Marine Heavy Industry.

Sany International said that the proceeds from the investment will be used in the Zhuhai Industrial ParkPort machineryConstruction of the project. Sany International pointed out that the port machinery industry will develop steadily in the next few years, and the group will continue to enhance the current manufacturing capacity of port machinery products and advance the company's strategic plan to further develop diversified business.

Since the Zhuhai Industrial Park commenced operation in May 2015, the Group's manufacturing capacity and sales volume of marine machinery and equipment have grown rapidly. This investment will provide Sany Marine Heavy Industry with sufficient working capital to further expand the Zhuhai Industrial Park, which is beneficial to the overall interests of the Group and shareholders.