CHSR announced that the company and its wholly-owned subsidiary, ShenTie Operations, successfully won the bid for the PPP project of the first phase of Tianjin Metro Line 7, in a consortium with China State Construction and its affiliates. CHSR and ShenTie Operations invested 157 million yuan, accounting for 2% of the project company's equity. Due to ShenTie not receiving the full amount of equipment supply contracts according to its equity ratio during project execution, and the management fees charged by China State Construction or its designated entities exceeding 3% of the obtained contract amount, both parties signed a supplementary agreement on December 27, 2024. It was agreed that after China State Construction pays 100 million yuan to ShenTie, ShenTie will no longer claim the equipment procurement contract under the original contract and promises to waive responsibilities related to project operation preparation, full-line operation, and maintenance under the original contract. The company and ShenTie Operations received the aforementioned 100 million yuan on December 27, 2024, which is expected to have a positive impact on the company's operating performance