Hongsheng Huayuan: China Electrical Equipment Group will absorb and merge with Shaanxi Galaxy and hold 7.06% of the company's shares.

Hongsheng Huayuan announcement: China Electrical Equipment Group's wholly-owned subsidiary Shandong Electrician Electric will absorb and merge Shaanxi Galaxy Power Pole Co., Ltd., and transfer the 1.89 billion shares of Hongsheng Huayuan held by Shaanxi Galaxy to Shandong Electrician Electric through non-trading transfer. As of the date of the announcement, the merger has been approved, the merger agreement has been signed, but the merger and share change registration have not yet been completed.