Chongqing Construction Engineering Group Co., Ltd. plans to absorb and merge its wholly-owned subsidiary, Chongqing Weijing Hotel Co., Ltd. After the absorption and merger is completed, Weijing Hotel will be legally deregistered, and all of its Assets, debts, Business and all other rights and obligations will be legally inherited by Chongqing Construction Engineering Group. This matter has been approved by the thirty-sixth meeting of the fifth Board of Directors and still needs to be submitted to the company's Shareholders' meeting for deliberation. This absorption and merger does not constitute a related party transaction, nor does it constitute a significant asset reorganization as defined by the Measures for the Administration of Major Asset Restructuring of Listed Companies. Weijing Hotel's financial statements have been included in the company's consolidated financial statements, and this absorption and merger will not have a substantial impact on the company's financial situation and operating results.