Red Square: Intends to sell part of its industrial land and above-ground buildings to related parties at a transaction price of 10.5264 million yuan.

Notice from Red Square: the company intends to sell part of the industrial land use rights and the above-ground buildings located east of Longxing Avenue and north of Hongtu Avenue in the Hefei Circular Economy Demonstration Park to the related party Red Square Holdings for a transaction price of 10.5264 million yuan. This transaction constitutes a related party transaction, but not a significant asset restructuring. The transaction has been approved by the independent directors' special meeting and the board of directors and does not require shareholder approval. The transaction price is determined based on the evaluation value filed by the relevant competent department, with an increase of 34.07% compared to the book value. After the transaction is completed, it will benefit Red Square Holdings in implementing energy-saving and carbon reduction projects, reducing comprehensive energy consumption and costs, and thereby enhancing the company's profitability.