China Central Cars (CRRC) announced that its wholly-owned subsidiary Tianjin Equipment Co., signed an equity transfer agreement with SMC Technology Park on April 29, 2024, to sell a 49% stake in Tsupura Industrial Park to Mid-Range Technology Park for a transaction amount of RMB30,215.51 million. Upon completion of this transaction, Tsura Industrial Park Company will become a wholly-owned subsidiary of Mid-Range Technology Park. Under the Hong Kong Listing Rules, the transfer of shares constitutes a connected transaction, as the SMC Technology Park is a wholly owned subsidiary of the Central Car Group and the SMB Group is the controlling shareholder of CRRC. The transaction is conducted in accordance with the declaration and announcement requirements of Chapter 14A of the Hong Kong Listing Rules, but without the approval of independent shareholders. The Board considers that this transaction will help improve asset structure and cash flow and improve operating efficiency.

China Central Cars (CRRC) announced that its wholly-owned subsidiary Tianjin Equipment Co., signed an equity transfer agreement with SMC Technology Park on April 29, 2024, to sell a 49% stake in Tsupura Industrial Park to Mid-Range Technology Park for a transaction amount of RMB30,215.51 million. Upon completion of this transaction, Tsura Industrial Park Company will become a wholly-owned subsidiary of Mid-Range Technology Park. Under the Hong Kong Listing Rules, the transfer of shares constitutes a connected transaction, as the SMC Technology Park is a wholly owned subsidiary of the Central Car Group and the SMB Group is the controlling shareholder of CRRC. The transaction is conducted in accordance with the declaration and announcement requirements of Chapter 14A of the Hong Kong Listing Rules, but without the approval of independent shareholders. The Board considers that this transaction will help improve asset structure and cash flow and improve operating efficiency.