JiangSu Communications Holding Co., Ltd. entered into an agreement to acquire 15% stake in Jiangsu Jinghu Expressway Co., Ltd from Jiangsu Yueda Investment Co., Ltd. (SHSE:600805) for CNY 210 million on July 15, 2022. The board of directors of Jiangsu Yueda Investment Co., Ltd. approved the transaction. The transaction is subject to approval from shareholders of Jiangsu Yueda Investment Co., Ltd. This agreement is stamped with the official seal of the three parties. This transaction plan and this agreement have been reviewed and approved by Jiangsu Yueda Investments internal review procedures. This transaction has been reviewed and approved by the State-owned Assets Authority of Yancheng City. This transaction has no objection after being reviewed by the securities authorities. As of March 31, 2022, the total assets of Jiangsu Jinghu Company in the consolidated statement were CNY 27.39 billion and net assets were CNY 12 billion. Zhongxinghua Certified Public Accountants LLP acted as accountant to Jiangsu Yueda Investment Co., Ltd. Huaying Securities Co., Ltd. acted as financial advisor to Jiangsu Yueda Investment Co., Ltd. As on August 1, 2022, shareholders of Jiangsu Yueda Investment Co., Ltd. approved the transaction.