On December 6, 2024, the wholly-owned subsidiary of crrc corporation, Sifang Institute, and the non-wholly-owned subsidiary, beijing sifang automation, respectively signed several agreements with crrc qingdao technology park regarding the purchase of customized properties, commercial housing, and parking space usage rights. Sifang Institute will purchase customized properties for 711,970,015 yuan, while beijing sifang automation will buy commercial housing for 147,803,455 yuan and acquire usage rights for 50 parking spaces for 8,500,000 yuan. These trades aim to support the crrc Sifang Intelligent Port R&D Center project and promote the company's technological innovation. crrc qingdao technology park is a wholly-owned subsidiary of crrc Group, thus these transactions constitute connected transactions under Hong Kong listing rules. As the highest applicable percentage exceeds 0.1% but...Show More

On December 6, 2024, the wholly-owned subsidiary of crrc corporation, Sifang Institute, and the non-wholly-owned subsidiary, beijing sifang automation, respectively signed several agreements with crrc qingdao technology park regarding the purchase of customized properties, commercial housing, and parking space usage rights. Sifang Institute will purchase customized properties for 711,970,015 yuan, while beijing sifang automation will buy commercial housing for 147,803,455 yuan and acquire usage rights for 50 parking spaces for 8,500,000 yuan. These trades aim to support the crrc Sifang Intelligent Port R&D Center project and promote the company's technological innovation. crrc qingdao technology park is a wholly-owned subsidiary of crrc Group, thus these transactions constitute connected transactions under Hong Kong listing rules. As the highest applicable percentage exceeds 0.1% but is less than 5%, they are subject to reporting and announcement requirements but are exempt from independent shareholder approval. The board of directors believes these agreements were negotiated on fair terms and are in the overall interest of the company and its shareholders. These transactions will not have a significant impact on the normal operation and financial condition of crrc corporation, nor will they harm the interests of the company and its shareholders. The completion of these trades will meet the R&D office needs of Sifang Institute and beijing sifang automation, aligning with the company's development strategy and having a positive impact on the company's future development.