Shentong Subway: The Board of Directors has approved multiple proposals to transfer 100% of the equity of its subsidiary for review by the shareholders' meeting.

Shentong Metro announced that the 24th meeting of the 11th Board of Directors of the company was held on December 4, 2025, and several resolutions were deliberated and unanimously passed. This includes amending the company's articles of association, adding related party transactions and adjusting the daily related party transactions for the year 2025, convening the second extraordinary general meeting of shareholders in 2025, and transferring 100% equity of the wholly-owned subsidiary Shanghai Metro Leasing Co., Ltd. The company had previously adopted a temporary information disclosure measure for the resolution to sell the equity of the subsidiary, and as of the disclosure date of this announcement, the reasons for the postponement of disclosure have been eliminated. The aforementioned resolutions will all need to be submitted to the company's general meeting of shareholders for approval.