Core Viewpoint - The company is set to hold its fifth extraordinary general meeting of shareholders on November 28, 2025, to discuss significant governance changes, including the cancellation of the supervisory board and amendments to the company's articles of association [2][34]. Meeting Details - The extraordinary general meeting will take place at 14:00 on November 28, 2025, at the company's office in Nanjing [2][6]. - Shareholders can participate through both on-site and online voting, with specific time slots designated for each method [3][6]. Voting Procedures - The online voting system will be managed by the Shanghai Stock Exchange, allowing shareholders to vote during specified trading hours on the day of the meeting [3][4]. - Shareholders holding multiple accounts can aggregate their voting rights across all accounts, but repeated votes will be counted only once [8][9]. Agenda Items - The meeting will review several key proposals, including the cancellation of the supervisory board and the revision of the company's governance structure [34][39]. - The board has already approved these proposals in prior meetings, and they will be presented for shareholder approval [7][19]. Governance Changes - The company plans to abolish the supervisory board, transferring its responsibilities to the audit committee of the board of directors, in line with new regulatory requirements [17][39]. - Amendments to the articles of association will reflect these changes, including the removal of references to the supervisory board [39][40]. Institutional Adjustments - The company will revise and abolish several governance documents to align with the new structure, including merging existing policies into updated frameworks [26][41]. - Specific governance documents that will be revised include the rules for shareholder meetings and the audit committee's operational guidelines [27][41].

Core Viewpoint - Ningbo Construction Co., Ltd. has announced that its controlling shareholder, Ningbo Transportation Investment Group Co., Ltd., will provide guarantees for the company's financing, with a total guarantee amount not exceeding RMB 6 billion, and the guarantee period lasting until December 31, 2028. The company will provide counter-guarantees for this support [2][6]. Group 1: Guarantee Details - The total guarantee amount provided by Ningbo Transportation Investment Group for the company's financing will not exceed RMB 60 billion [2][6]. - The guarantee period is set until December 31, 2028, although the specific financing business duration is not limited by this date [2][6]. - The company will provide a counter-guarantee for the aforementioned guarantee, ensuring that it covers all principal, interest, penalties, and costs related to the debt [7]. Group 2: Internal Decision-Making Process - The independent directors and the audit committee of the company have reviewed and approved the proposal regarding the acceptance of the controlling shareholder's guarantee and the provision of a counter-guarantee [3][21]. - The proposal was subsequently approved by the company's board of directors during a meeting held on November 10, 2025, with related directors abstaining from voting [3][21]. Group 3: Shareholder Meeting - The proposal regarding the acceptance of the guarantee and the provision of a counter-guarantee will be submitted for approval at the upcoming shareholder meeting, where related shareholders must abstain from voting [4][23]. - The shareholder meeting is scheduled for November 26, 2025, and will utilize both on-site and online voting methods [58][59]. Group 4: Financial Instruments - The company plans to register and issue medium-term notes totaling up to RMB 2 billion to optimize its debt structure and broaden financing channels [54][55]. - The issuance will be guaranteed by Ningbo Transportation Investment Group, and the final terms will be determined based on market conditions [55]. Group 5: Governance Changes - The company will abolish its supervisory board, transferring its responsibilities to the audit committee of the board of directors, and relevant governance documents will be revised accordingly [73][74]. - The proposed changes to the company's articles of association and governance structure will also be submitted for shareholder approval [74][75].