Core Viewpoint - The company plans to transfer 100% equity of its wholly-owned subsidiary, Lanzhou Haimer Haishi Special Vehicles Co., Ltd. (referred to as "Haimer Haishi"), to enhance operational efficiency and focus on core business strategies, with the proceeds aimed at supplementing working capital [1][2] Company Summary - Haimer Haishi engages in the business of logging and testing special vehicles and integrated logging vehicles [2] - The company faces significant challenges in market expansion due to strong bargaining power of concentrated end customers and competition from leading firms, leading to a low-price competition strategy among smaller manufacturers [2] - Despite successfully developing integrated logging vehicle technologies and being listed as a qualified supplier for major oilfield clients like Sinopec and PetroChina, the company has experienced declining product prices and decreasing gross margins, resulting in continuous losses over the past three years with an increasing loss magnitude [2] Financial Summary - The proposed transfer price for Haimer Haishi's 100% equity is tentatively set at 8 million yuan, with the final price to be determined based on the net asset evaluation of Haimer Haishi [2]

Core Viewpoint - The company plans to transfer 100% equity of its wholly-owned subsidiary, Haimer Hailong, to Lanzhou Fuhua Langyao Technology Co., Ltd. for a preliminary price of 8 million yuan, with the final price based on the net asset evaluation of Haimer Hailong [1] Group 1 - The board of directors approved the proposal during the 39th meeting of the 8th session on September 12, 2025 [1] - The transaction does not constitute a related party transaction or a major asset restructuring, and does not require approval from relevant authorities [1] - Haimer Hailong is engaged in the business of special vehicles for logging and testing, as well as integrated logging vehicles [1]