Chengdu Xinzhu Road&Bridge Machinery announced that on November 28, 2024, it received a letter from its controlling shareholder, Sichuan Development Co., Ltd. According to the provincial party committee and provincial government’s arrangements to deepen the reform of state-owned enterprises, optimize the layout of the state-owned economy and carry out jiegoutiaozheng, further enhance the core functions of enterprises, and improve core competitiveness, Sichuan Development intends to transfer 66.1138 million shares it directly holds in the company and 100% equity of Sichuan Development Rail Transit Industry Investment Co., Ltd. to Shudao Investment Group Co., Ltd. or its designated entity without compensation. After this transfer is completed, the controlling shareholder of the company will change from Sichuan Development to Shudao Group, while the actual controller of the company will still be the Sichuan Provincial State-owned Assets Supervision and Administration Commission.