Soochow Expressway (00177) announced that on September 25, 2024, Guangjing Xicheng Company exercised its debt-for-equity swap rights. As of the date of this announcement, the price for the debt-for-equity swap of Soochow Expressway was RMB 3.05 per share, and Guangjing Xicheng Company can exchange its holding of Soochow Convertible Bonds for 0.128 billion shares of Jiangsu Financial Leasing's A shares. As of September 17, 2024 (the date of Jiangsu Financial Leasing's last public disclosure of its total number of A shares), the total number of A shares of Jiangsu Financial Leasing was 4.697 billion shares. Guangjing Xicheng Company held 0.328 billion shares of Jiangsu Financial Leasing's A shares (representing approximately 6.98% equity in Jiangsu Financial Leasing). Assuming that in addition to the 0.128 billion shares of common A shares added due to the exercise of Guangjing Xicheng Company's conversion rights, there were no other changes in the number of shares, Guangjing Xicheng Company will hold 0.456 billion shares of Jiangsu Financial Leasing's common A shares (representing approximately 9.45% equity in Jiangsu Financial Leasing after the share conversion by Guangjing Xicheng Company).

The exercise of the conversion rights in this instance can avoid Guangjing Xicheng Company's Soochow Convertible Bonds from being redeemed forcibly, thereby preventing investment losses, and can also maintain Guangjing Xicheng Company's shareholding proportion in Jiangsu Financial Leasing, avoiding dilution of shareholder rights, dilution of profits and cash dividends, thus safeguarding Guangjing Xicheng Company's relevant rights as a shareholder of Jiangsu Financial Leasing and the company's relevant interests.