China Shipbuilding Industry Group Power announces that, according to the Global Strategy development plan of the company, to promote the development of related industry Sectors, the wholly-owned subsidiary Wuhan Shipbuilding Machinery intends to implement a capital increase of 0.303 billion yuan through a non-public agreement for Debt-for-equity Swaps to its controlling subsidiary Wuhan Tiemao. The other shareholders of Wuhan Tiemao involved in this Trade, including China Shipbuilding Investment and Dalian Ship, are related parties of the company; this Trade constitutes a related party transaction but does not constitute a major asset reorganization. This Trade has been approved by the ninth meeting of the eighth Board of Directors of the company, with related directors abstaining from voting. The amount of this Trade has not reached 5% of the absolute value of the company's most recent audited net Assets, therefore, this Trade does not need to be submitted for approval at the company’s Shareholders' meeting.