Hefei Urban Construction: Amber Property plans to absorb and merge its wholly-owned subsidiary Sanya Industrial.

Hefei Urban Construction announced that the company's board of directors reviewed and approved a proposal agreeing that its wholly-owned subsidiary Anhui Amber Property Service Co., Ltd. absorb and merge wholly-owned subsidiary Sanya Fengle Industrial Co., Ltd. After the absorption and merger is completed, Amber Property will continue to exist, and Sanya Industrial will be deregistered in accordance with law, with all of its assets, liabilities, business, personnel and other rights and obligations to be succeeded by Amber Property. This absorption and merger does not constitute a related-party transaction or a major asset restructuring, does not need to be submitted to the shareholders' meeting for review, and will not have a material impact on the company's consolidated financial statements.