Core Viewpoint - The company plans to initiate the issuance of a real estate asset-backed special plan in collaboration with CITIC Securities, focusing on indirectly held standard factory projects as underlying assets [1] Group 1 - The special plan is tentatively named "CITIC Securities - Waigaoqiao Group Real Estate Asset-Backed Special Plan" [1] - The issuance scale will be determined based on the valuation of the underlying assets and the final issuance results [1] - The target investors for the issuance are professional institutional investors, with the original rights holder or its affiliates subscribing for 10%-20% of the shares [1] Group 2 - The duration of the special plan will be determined according to the expiration date of the land use rights of the underlying assets [1] - The listing venue for the special plan will be the Shanghai Stock Exchange [1]

Core Viewpoint - The company aims to enhance liquidity by selling its entire stake in several wholly-owned subsidiaries engaged in rooftop photovoltaic power generation projects in China for approximately RMB 470 million [1] Group 1: Transaction Details - The company entered into an agreement on June 3, 2025, to sell its stake and outstanding loans related to the rooftop photovoltaic projects [1] - The total consideration for the sale is approximately RMB 470 million [1] - The company will also subscribe to part of the equity-level asset-backed securities issued under the second phase of the asset-backed special plan, amounting to RMB 24 million, which represents about 5.1% of the total principal amount of the asset-backed securities [1] Group 2: Use of Proceeds - The net proceeds from the sale will be used to invest in rooftop photovoltaic and energy storage projects, repay bank loans, and serve as general working capital [1]