Huawoo Co., Ltd.: Completion of internal transfer of equity of its wholly-owned subsidiary.

Huawo Group announcement: The sixth session of the tenth meeting of the Board of Directors, held on April 26, 2025, reviewed and approved the "Proposal on Internal Transfer of Equity of Wholly-owned Subsidiaries". It was agreed to transfer 100% of the equity of the wholly-owned subsidiaries Jinju Industry and Huawo Transportation Equipment to Huawo Rail Transit. On May 21, 2025, the equity transfer registration procedures of Jinju Industry were completed. On June 18, 2025, the equity transfer registration procedures of Huawo Transportation Equipment were completed. After the changes, Jinju Industry and Huawo Transportation Equipment became wholly-owned subsidiaries of Huawo Rail Transit, subsidiaries of Huawo Group. This transfer does not result in any changes to the company's consolidated financial statements.