Suzhou Industrial Park Heshun Electric Co Ltd

Heshun Electric announced that it plans to sell its 84.5195% stake in Jiangsu Zhongdao Electric Co., Ltd. to related party Suzhou Heyuxin for 77.96 million yuan. After the transaction, it will no longer hold any equity in Zhongdao Electric. The deal constitutes a related-party transaction and still needs to be submitted to the shareholders' meeting for approval. After completion, the company's guarantee of 10.2343 million yuan and loan of 8.5579 million yuan to Zhongdao Electric will become passive related-party guarantees and related-party financial assistance.

Heshun Electric announced that it has signed a supplementary agreement with Hunan CRRC Intelligent Mobility Technology Company and Sichuan CRRC Railway Investment Rail Transit Company to change the parties to the procurement contract for 76 hydrogen fuel cell systems signed in March 2024. The total contract amount of 108.3027 million yuan remains unchanged. Under the supplementary agreement, units 1 through 10 will continue to be ordered and paid for by CRRC Intelligent Mobility, while units 11 through 76 will now be ordered and paid for directly by Sichuan CRRC Railway Investment. Sichuan CRRC Railway Investment is a subsidiary in which CRRC Intelligent Mobility holds a stake. The original procurement model was for CRRC Intelligent Mobility to purchase the systems centrally and then supply them to Sichuan CRRC Railway Investment. The company said this change will not have a material impact on its performance or operating condition, and the matter does not need to be submitted to the board of directors or shareholders for approval.