Nanjing SASAC to Inject Stakes in Three Groups, Lifting Indirect Control to 39.11%

Nanjing Securities announced that the Nanjing State-Owned Assets Supervision and Administration Commission will inject its equity stakes in the Urban Construction Group, Transportation Group and Southeast Group into Nanjing State-Owned Assets Investment Management Holding (Group) Co. , Ltd. (the "State-Owned Assets Group") as capital contribution, based on the audited net assets attributable to the parent as of December 31, 2025.

The equity change results from the integration of state-owned assets by the state-asset regulator and does not involve any reduction of shareholdings in the market. As the Urban Construction Group, Transportation Group and Southeast Group each directly or indirectly hold shares in the company, the State-Owned Assets Group's indirect control of the company will rise from 28.83% to 39.11% upon completion of the injection. The company's actual controller and controlling shareholder will remain unchanged.