Shanghai Zhenhua Heavy Industries Co., Ltd. plans to transfer all shares of China Communications Construction Photovoltaic Co. Ltd. for 34.3824 million yuan.

Zhenhua Heavy Industries announced that the company intends to transfer all of its equity in China Communications Photovoltaic Technology Co., Ltd. to China Urban and Rural Holdings Group Co., Ltd. through a non-public agreement transfer method, with a transaction price of RMB 34.3824 million. After the completion of this equity transfer, the company will no longer hold equity in China Communications Photovoltaic. This transaction constitutes a related party transaction, does not constitute a major asset restructuring, and the implementation of the transaction still needs to go through approval and other related procedures. This transaction has not reached the standards for approval by the shareholders' meeting.