China High Speed Railway: The transfer of 19% equity of subsidiary Communications University Weilian by Hisense Weilian has been completed.

Shenzhou High-Speed Rail announcement, starting on October 31, 2025, Jiaotong Weilian will publicly list and transfer 19% equity of Hisense Weilian on the Beijing Property Exchange. The initial public listing price is 27.7752 million yuan. After the first price reduction on December 1, 2025, on December 15, 2025, the Beijing Property Exchange confirmed Guangdong Huazhiyuan as the transferee, with a transaction price of 25.08 million yuan. Jiaotong Weilian has signed a relevant agreement with Guangdong Huazhiyuan, who has already paid the amount. In addition, Guangdong Huazhiyuan will also acquire the 41% equity held by another shareholder of Hisense Weilian and become the controlling shareholder.