Huilong B: Pudong New Area State-owned Assets Supervision and Administration Commission plans to transfer 3.84% of shares to Pudong Capital.

Huili B announced that Pudong New Area State-owned Assets Supervision and Administration Commission intends to transfer 6.9696 million B shares held by the company to Pudong Capital as non-monetary capital contribution. Before this equity change, the two parties collectively held 7.84% of the shares; after the change, Pudong Capital directly holds 6.9696 million shares, and the total holdings with concerted action person Pudong Ruiyi remain unchanged. The matter has been approved by Pudong Capital's board of directors, and still requires approval from Pudong New Area State-owned Assets Supervision and Administration Commission, compliance confirmation from the Shanghai Stock Exchange, and transfer registration by the China Securities Depository and Clearing Corporation Limited. There has been no change in the controlling shareholders and actual controllers of the company before and after the transaction.