Tongyu Heavy Industry: Plans to publicly transfer 100% equity of its wholly-owned subsidiary Changzhou Haijie

Tongyu Heavy Industry announced that the company plans to transfer 100% equity of its wholly-owned subsidiary Changzhou Haijie Metallurgical Machinery Manufacturing Co., Ltd. through a public listing at a property rights trading institution. It is currently in the pre-disclosure stage before the official listing, which does not constitute a transaction. The counterparty, transaction price, and other details remain uncertain, and whether the transaction can be completed and the completion time are subject to uncertainty. This transfer is in line with the company's strategic deployment of focusing on its main business. After the transfer is completed, the company will no longer hold equity in Changzhou Haijie, and it will no longer be included in the consolidated financial statements. This will not have a significant adverse impact on the company's normal production and operations.