China High-Speed Railway Technology Co., Ltd. (SZSE:000008) and China High-Speed Railway Rail Transit Operation & Management Co., Ltd. agreed to acquire 41% stake in Tianjin Line 2 Rail Transit Operation Co., Ltd and 10% stake in Tianjin Line 3 Rail from China Communications Construction Company Limited (SEHK:1800) for approximately CNY 820 million on December 7, 2020. The transfer price for Tianjin Line 2 Rail Transit Operation Co., Ltd. is CNY 624.2 million and for Tianjin Line 3 Rail Transit Operation Co., Ltd. is CNY 192.5 million. The transferee shall remit the agreed price in cash to the bank account designated by the transferor within 5 working days after the following conditions are met. China High-Speed Railway Technology Co., Ltd. will acquire 30% stake and China High-Speed Railway Rail Transit Operation & Management Co., Ltd will acquire 11% stake in Tianjin Line 2 Rail Transit Operation Co., Ltd. China High-Speed Railway Technology Co., Ltd. will acquire 9% stake and China High-Speed Railway Rail Transit Operation & Management Co., Ltd will acquire 1% stake in Tianjin Line 3 Rail Transit Operation Co., Ltd.

China High-Speed Railway Technology Co., Ltd. (SZSE:000008) and China High-Speed Railway Rail Transit Operation & Management Co., Ltd. signed and the equity transfer agreement to acquire 41% stake in Tianjin Line 2 Rail Transit Operation Co., Ltd and 10% stake in Tianjin Line 3 Rail from China Communications Construction Company Limited (SEHK:1800) on December 14, 2020. On January 19, 2021, Tianjin Line 2 Rail Transit Operation Co., Ltd. has officially changed its name to China Line 2 (Tianjin) Rail Transit Operation Co., Ltd., and has completed the relevant industrial and commercial registration procedures.

For the year ended December 2019, Tianjin Line 2 Rail Transit Operation Co., Ltd reported total assets of CNY 7.62 billion, net assets of CNY 1.52 billion, revenues of CNY 0, total loss of CNY 2.7 million and net loss of CNY 2.7 million. Tianjin Line 3 Rail Transit Operation Co., Ltd reported total assets of CNY 9.62 billion, net assets of CNY 1.9 billion, revenues of CNY 0, total loss of CNY 3.5 million and net loss of CNY 3.5 million. For the year ended October 23, 2020, Tianjin Line 2 Rail Transit Operation Co., Ltd reported total assets of CNY 7.62 billion, net assets of CNY 1.9 billion, revenues of CNY 0, total loss of CNY 9.56 million and net loss of CNY 9.56 million. Tianjin Line 3 Rail Transit Operation Co., Ltd reported total assets of CNY 9.62 billion, net assets of CNY 1.9 billion, revenues of CNY 0, total loss of CNY 14.01 million and net loss of CNY 14.01 million.

China High-Speed Railway Technology Co., Ltd. held the 32nd meeting of the 13th Board of Directors and reviewed and approved transaction. Prior to the transaction China Communications Construction Company Limited (SEHK:1800) held 51% stake in Tianjin Line 2 Rail Transit Operation Co., Ltd and Tianjin Line 3 Rail Transit Operation Co., Ltd.