Lanshi Heavy Equipment Overhaul: Gansu Guotou acquires 90% equity of Lanshi Group for no consideration and becomes the indirect controlling shareholder.

Announcement of Lanzhou Heavy Equipment: Gansu Provincial State-owned Assets Supervision and Administration Commission intends to transfer all 90% equity of Lanzhou Group directly held by Lanzhou Heavy Equipment to Gansu Guotou at no cost. After this free transfer is completed, Gansu Guotou will indirectly control 46.09% of Lanzhou Heavy Equipment's shares, triggering the obligation of the acquirer to make a tender offer. This free transfer meets the exemption from issuing a tender offer as stipulated in Article 63, Paragraph 1, Item of the "Acquisition Management Measures". After this free transfer is completed, the controlling shareholder of the listed company remains Lanzhou Group, the indirect controlling shareholder is Gansu Guotou, and the actual controller remains unchanged as Gansu Provincial State-owned Assets Supervision and Administration Commission.