Tongfang Co., Ltd.: The transfer of 80% equity of Tongfang Industrial Information Technology, a subsidiary, has completed the business change registration.

Tongfang Corporation announced that, in order to implement the requirements of the State-owned Assets Supervision and Administration Commission and promote strategic transformation and upgrading, the company publicly listed the 80% equity of Tongfang Industrial Information Technology held by its wholly-owned subsidiary Tongfang Technology Innovation on the property exchange. Beijing Chunzhong Technology, its director Zhang Junfeng, controlling shareholder and spouse Liu Jiali, have successfully acquired the delisted equity. As of the disclosure date of the announcement, the equity transfer has completed the state-owned property registration procedures, completed the industrial and commercial changes, the company no longer holds the equity, and Tongfang Industrial Information Technology is no longer included in the consolidated financial statements.