China Railway Materials announced that the company has jointly invested with China Logistics Co., Ltd. and Qingdao Shanghe Holding Group Co., Ltd. to establish China Logistics Shanghe International Logistics Co., Ltd. The registered capital of the joint venture company is 50 million yuan, of which China Railway Materials invested 15 million yuan, holding a 30% stake. This transaction constitutes a related party transaction and has been approved by the board of directors. The joint venture company will carry out train services, multimodal transport, and related logistics services to assist the company in transforming towards comprehensive logistics.