China Storage & Development Co., Ltd.: Plans to contribute RMB 18 million to participate in the establishment of a joint venture company.

China Storage Co., Ltd. announced that the company signed a Capital Contribution Agreement with its indirect controlling shareholder China Logistics and non-related party China First Heavy Industries to jointly contribute RMB 200 million to establish China Logistics Group Heavy Equipment Supply Chain Technology Co., Ltd. Among them, the company contributed RMB 18 million, holding a 9% stake; China Logistics contributed RMB 102 million, holding a 51% stake; China First Heavy Industries contributed RMB 80 million, holding a 40% stake. This transaction constitutes a related-party transaction and does not constitute a major asset restructuring.