Zhejiang Jianzhi Investment: Approval of issuing shares to purchase assets and raise matching funds, as well as related party transactions

Zhejiang Jian Investment Announcement: The company intends to issue A-shares to purchase a minority stake in Zhejiang No. 1 Construction Group Co., Ltd., Zhejiang No. 2 Construction Group Co., Ltd., and Zhejiang No. 3 Construction Group Co., Ltd. held by the Guoxin Jianyuan Equity Investment Fund Partnership Enterprise, and to issue shares to the controlling shareholder Zhejiang State-owned Capital Operation Co., Ltd. for fundraising. On May 16, 2025, the company received the Reply from the Zhejiang Provincial State-owned Assets Supervision and Administration Commission of the People's Government of Zhejiang Province on the matters related to approving the construction group's issuance of shares to purchase assets and raise supporting funds. The Zhejiang Provincial State-owned Assets Supervision and Administration Commission has tentatively agreed to the company's proposed transaction. The transaction was approved at the company's annual general meeting of shareholders for 2024 held on May 19, 2025, but still requires approval from relevant regulatory authorities, and there is some uncertainty as to whether approval will be obtained.