Changshan Beiming: Asset Replacement and Related Transactions Completed

Changshan Beiming announced that the asset swap and related transactions between the company and Changshan Group have been completed. The assets injected include 100% equity of energy investment and 80% equity of smart industry, while the assets divested include 100% equity of Changshan Hengxin. The total difference between the divested and injected assets, as well as the expected interest, amounts to approximately 1.541 billion yuan. Changshan Group offset 514 million yuan of debt to Ruiteng Automobile, and the remaining portion was offset by Changshan Group against Changshan Beiming's cash debt. Non-operating debt of 366 million yuan was also offset by Changshan Group against Changshan Beiming's cash debt. As of November 10, 2025, all relevant procedures have been completed, and the asset swap and related transactions have been officially completed.