Huawu Co., Ltd.: The internal transfer of equity for the wholly-owned subsidiary has been completed

Huawu Co., Ltd. announced that at the tenth meeting of the sixth board of directors held on April 26, 2025, it reviewed and approved the proposal on the internal transfer of equity of wholly-owned subsidiaries, agreeing to transfer 100% equity of its wholly-owned subsidiaries, Jinjun Industrial and Huawu Traffic Equipment, to Huawu Rail Transit. On May 21, 2025, the industrial and commercial change registration procedures for the equity transfer of Jinjun Industrial have been completed. On June 18, 2025, the industrial and commercial change registration procedures for the equity transfer of Huawu Traffic Equipment have been completed. After the transfer is completed, Jinjun Industrial and Huawu Traffic Equipment will become wholly-owned subsidiaries of Huawu Rail Transit, which is a wholly-owned subsidiary of Huawu Co., Ltd. This transfer does not result in a change in the scope of the company's consolidated financial statements