Beijing Holdings: Acquires 100% equity stake of Beijing Northern Special Equipment Inspection and Testing Co., Ltd. held by Beijing Northern Real Industry.

Beijing Holdings announced that on November 12, 2025, the company's wholly-owned subsidiary Beijing Gas, as the buyer, signed a share purchase agreement with the wholly-owned subsidiary of the company's ultimate controlling shareholder, Beikong Group, Beiran Industrial, as the seller. Beijing Gas agreed to acquire 100% equity of Beijing Beiran Special Equipment Inspection and Testing Co., Ltd. held by Beiran Industrial, with a transaction price of RMB 54.6 million. This transaction constitutes a related party transaction, but is exempt from the requirement for independent shareholder approval.