Transaction Overview - Zhejiang Transportation Technology Co., Ltd. (the "Company") has signed an agreement for the transfer and capital increase of shares in Zhejiang Yitong Special Foundation Engineering Co., Ltd. (the "Target Company") with the shareholders of the Target Company. The Company will acquire 30% of the Target Company's shares for a total consideration of 147.939 million yuan and will also invest 211.3414 million yuan for capital increase, making the total transaction value 359.2804 million yuan. After the transaction, the Company will hold 51% of the Target Company, becoming its controlling shareholder [1]. Progress Update - The Company has completed the equity change for the Target Company and has become its controlling shareholder. Recently, the Company received a notification indicating that the Target Company has obtained a new business license from the administrative authority. The registered capital of the Target Company is 162.814286 million yuan, and it was established on October 13, 2017. The legal representative is Wu Youping, and the company is located in Ningbo Free Trade Zone [2].