CM Energy Tech Co., Ltd. (CM Energy Tech) has signed a Memorandum of Agreement to purchase the 2017-built diving support construction vessel “DSCV Lichtenstein” from Well Target One O One Ltd., a wholly owned unit of controlling shareholder China Merchants Shipbuilding Industry Group Co., Ltd. (CM Shipbuilding Industry). The agreed consideration is USD110.00 million, versus an independent valuation of USD111.00 million as at 30 April 2026.

The vessel is currently on bareboat charter to CM Energy Tech’s wholly owned subsidiary TSC Offshore Pte. Ltd. and is concurrently employed under a time charter to an independent third party. Post-acquisition, CM Energy Tech will obtain full ownership, eliminating charter-related constraints and providing autonomy over deployment, future chartering and potential disposal.

Funding for the purchase will come from a committed USD100.00 million term loan facility arranged with an independent bank, supplemented by internal resources. Completion is subject to several conditions, including independent shareholders’ approval at an extraordinary general meeting (EGM) and regulatory clearances, with a long-stop date of 31 October 2026.

Given the seller’s status as a subsidiary of CM Shipbuilding Industry—holder of approximately 47.18 % of CM Energy Tech’s issued share capital—the transaction is classified as a major and connected transaction under Hong Kong Listing Rules (Chapters 14 & 14A). Directors linked to CM Shipbuilding Industry have abstained from voting. An Independent Board Committee and Red Sun Capital Limited, as Independent Financial Adviser, have been appointed to advise independent shareholders.

The company expects to dispatch a circular containing further details and the EGM notice on or before 12 June 2026. CM Energy Tech states that acquiring the DSCV will expand its owned fleet, enhance operational flexibility in subsea engineering markets, and support long-term growth in its clean-energy and marine-services portfolio.