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0 -1.231 Td [(facility)12.6 ( is)12.5 ( RMB)12.6 (4)12.5 ( billion)12.6 ( and)12.6 ( the)12.6 ( maturity)12.6 ( date)12.6 ( is)12.6 ( 1)12.5 (8)12.6 ( March)12.6 ( 2)12.6 (0)12.6 (4)12.6 (0)12.5 (,)12.6 ( and)12.6 ( the)12.6 ( loan)17 ( )]TJ 0.051 Tc 0 -1.231 Td [(withdrawn)12.3 ( amount)12.3 ( is)12.3 ( RMB)12.3 (2)12.3 (,)12.3 (3)12.4 (6)12.3 (3)12.3 ( million)12.3 (\))12.3 ( within)12.3 ( 1)12.3 ( year)12.4 ( from)12.3 ( the)12.3 ( Completion)26 ( )]TJ 0.026 Tc 0.082 Tw 0 -1.231 Td [(Date)1 (,)1 ( )0.5 (with)1 ( )0.5 (the)1 ( )0.5 (approval)1 ( )0.5 (of)1 ( )0.5 (the)1.1 ( )0.5 (bank)1 ( )0.5 (and)1 ( )0.5 (provided)1 ( )0.5 (that)1 ( )0.5 (the)1 ( )0.5 (bank)1 ( )0.5 (does)1 ( )0.5 (not)1 ( )0.5 (require)1 ( )]TJ 0.025 Tc 0.079 Tw 0 -1.231 Td (the transferee, the target company or its subsidiaries to undertake any \ additional )Tj 0.009 Tw 0 -1.231 Td (obligations. The Company shall enter into a guarantee agreement with the\ bank in )Tj 0.028 Tc 0.08 Tw 0 -1.231 Td [(respect)3 ( )0.5 (of)3 ( )0.5 (a)3 ( )0.5 (joint)3 ( )0.5 (guarantee)3 ( )0.5 (obligation)3 ( )0.5 (with)3 ( )0.5 (the)3 ( )0.5 (borrower)3 ( )0.5 (not)3 ( )0.6 (exceeding)3 ( )0.5 (the)3 ( )0.5 (sum)3 ( )]TJ 0.025 Tc 0.036 Tw 0 -1.231 Td (of the loan under the loan agreement. The guarantee period shall be the \ 6 months )Tj 0.037 Tc 0.071 Tw 0 -1.231 Td [(p)0.5 (e)0.6 (r)0.5 (i)0.5 (o)0.6 (d)12 ( )0.5 (f)0.5 (r)0.5 (o)0.5 (m)12.1 ( t)0.6 (h)0.5 (e)12 ( )0.5 (d)0.6 (e)0.5 (a)0.5 (d)0.6 (l)0.5 (i)0.5 (n)0.5 (e)12.1 ( )0.5 (f)0.5 (o)0.5 (r)12 ( )0.5 (t)0.6 (h)0.5 (e)12 ( )0.5 (b)0.5 (o)0.5 (r)0.6 (r)0.5 (o)0.5 (w)0.6 (e)0.5 (r)12 (\222)12 (s)12.1 ( f)0.6 (u)0.5 (l)0.5 (f)0.6 (i)0.5 (l)0.5 (m)0.5 (e)0.6 (n)0.5 (t)12 ( )0.5 (o)0.6 (f)12 ( )0.5 (o)0.5 (b)0.5 (l)0.5 (i)0.6 (g)0.5 (a)0.5 (t)0.6 (i)0.5 (o)0.5 (n)0.5 (s)12 ( )0.5 (u)0.6 (n)0.5 (d)0.5 (e)0.6 (r)12 ( )0.5 (t)0.5 (h)0.5 (e)12 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (loan main agreement.)Tj -0.025 Tw 0 -2.462 Td (1.)Tj 2.181 0 Td (Borrower:)Tj 0 Tw 10.902 0 Td (Rudong Company)Tj -0.025 Tw -13.083 -2.462 Td (2.)Tj 0 Tw 2.181 0 Td (Place of registration:)Tj 10.902 0 Td (Jiangsu Rudong Yangkou Port Economic )Tj 1.09 -1.231 Td (Development Zone Comprehensive Business )Tj -0.025 Tw 0 -1.231 Td (Building)Tj -14.173 -2.462 Td (3.)Tj 0 Tw 2.181 0 Td (Legal representative:)Tj 10.902 0 Td (Li Jianfeng)Tj -0.025 Tw -13.083 -2.462 Td (4.)Tj 0 Tw 2.181 0 Td (Business scope:)Tj 0.109 Tc 0.07 Tw 10.902 0 Td [(development)12.2 (,)12.2 ( engineering)12.3 ( construction)12.3 ( and)84 ( )]TJ 0.056 Tc 1.09 -1.231 Td [(operation)12.3 ( of)12.3 ( wind)12.3 ( power)12.3 ( generation)12.3 ( projects)12.3 (;)31 ( )]TJ 0.065 Tc 0 -1.231 Td [(electric)12.8 ( energy)12.8 ( purchase)12.8 (,)12.7 ( sales)12.8 ( and)12.8 ( services)12.8 (;)40 ( )]TJ 0.062 Tc 0 -1.231 Td [(repair)12.4 ( and)12.4 ( testing)12.4 ( of)12.4 ( power)12.4 ( equipment)12.4 (;)12.4 ( wind)37 ( )]TJ 0.049 Tc 0 -1.231 Td [(farm)12.1 ( maintenance)12.1 ( and)12.2 ( related)12.1 ( mechanical)12.2 ( and)24 ( )]TJ 0.097 Tc 0 -1.231 Td [(electrical)12.8 ( equipment)12.8 ( maintenance)12.8 (;)12.9 ( related)72 ( )]TJ 0.087 Tc 0 -1.231 Td [(technical)12.7 ( consultation)12.8 ( and)12.8 ( services)12.8 (;)12.8 ( power)62.1 ( )]TJ 0.051 Tc 0 -1.231 Td [(equipment)12.7 ( wholesale)12.8 (.)12.8 ( \()12.8 (For)12.8 ( projects)12.8 ( subject)12.8 ( to)26 ( )]TJ 0 -1.231 Td [(ap)0.5 (prova)0.5 (l)12.9 ( ac)0.5 (cor)0.5 (ding)12.9 ( )0.5 (to)12.9 ( la)0.5 (w)12.9 (,)12.9 ( b)0.5 (usin)0.5 (ess)12.9 ( )0.5 (act)0.5 (iviti)0.5 (es)26 ( )]TJ 0.102 Tc 0 -1.231 Td [(can)12.8 ( only)12.8 ( be)12.9 ( carried)12.8 ( out)12.8 ( after)12.9 ( approval)12.8 ( by)77 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (relevant department\))Tj ET endstream endobj 74 0 obj <>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 47 \226)Tj ET q 0 Tc 0 g /GS1 gs 0 TL/Fm0 Do Q BT 0.056 Tw 13 0 0 13 85.0394 776.3179 Tm (of the transaction value \(together with the aggregate of similar servic\ es provided )Tj 0.052 Tc 0.07 Tw 0 -1.231 Td [(to)12.4 ( the)12.4 ( Group)12.4 (,)12.4 ( if)12.4 ( applicable)12.4 (\))12.5 ( from)12.4 ( the)12.5 ( Completion)12.5 ( Date)12.4 ( to)12.4 ( 3)12.4 (1)12.4 ( December)12.4 ( 2)12.4 (0)12.5 (2)12.4 (2)27 ( )]TJ 0.037 Tc 0.071 Tw 0 -1.231 Td [(\()12 (or)12 ( )0.5 (other)12 ( )0.5 (financial)12 ( )0.5 (year)12 (,)12 ( )0.5 (if)12 ( )0.5 (applicable)12 (\))12 ( )0.5 (would)12 ( )0.5 (be)12 ( )0.5 (less)12 ( )0.6 (than)12 ( )0.5 (0)12 (.)12 (1)12 (%)12 (,)12 ( )0.5 (these)12 ( )0.5 (potential)12 ( )]TJ 0.045 Tc 0.07 Tw 0 -1.231 Td [(c)0.5 (o)0.6 (n)0.5 (t)0.5 (i)0.5 (n)0.5 (u)0.5 (i)0.5 (n)0.6 (g)13 ( )0.5 (c)0.5 (o)0.5 (n)0.5 (n)0.6 (e)0.5 (c)0.5 (t)0.5 (e)0.6 (d)13 ( )0.5 (t)0.5 (r)0.5 (a)0.6 (n)0.5 (s)0.5 (a)0.5 (c)0.6 (t)0.5 (i)0.5 (o)0.5 (n)0.5 (s)13 ( )0.6 (w)0.5 (o)0.5 (u)0.5 (l)0.6 (d)13 ( )0.5 (b)0.5 (e)13 ( )0.6 (f)0.5 (u)0.5 (l)0.5 (l)0.5 (y)13 ( )0.6 (e)0.5 (x)0.5 (e)0.6 (m)0.5 (p)0.5 (t)13 ( )0.5 (f)0.5 (r)0.6 (o)0.5 (m)13 ( )0.5 (d)0.5 (i)0.5 (s)0.6 (c)0.5 (l)0.5 (o)0.5 (s)0.5 (u)0.6 (r)0.5 (e)13 ( )0.5 (a)0.6 (n)0.5 (d)20 ( )]TJ 0.025 Tc 0.009 Tw 0 -1.231 Td (independent shareholders approval continuing connected transaction requi\ rements )Tj 0.024 Tc 0 Tw 0 -1.231 Td [(p)0.5 (u)0.5 (r)0.5 (s)0.5 (u)0.5 (a)0.6 (n)0.5 (t)0.5 ( )0.5 (t)0.5 (o)0.5 ( )0.5 (R)0.5 (u)0.5 (l)0.5 (e)0.5 ( )0.6 (1)0.5 (4)0.5 (A)0.5 (.)0.5 (7)0.5 (6)0.5 (\()0.5 (1)0.5 (\))0.5 ( )0.5 (\()0.6 (a)0.5 (\))0.5 (,)0.5 ( )0.5 (R)0.5 (u)0.5 (l)0.5 (e)0.5 ( )0.6 (1)0.5 (4)0.5 (A)0.5 (.)0.5 (9)0.5 (0)0.5 ( )0.5 (o)0.5 (r)0.5 ( )0.5 (R)0.5 (u)0.6 (l)0.5 (e)0.5 ( )0.5 (1)0.5 (4)0.5 (A)0.5 (.)0.5 (9)0.5 (7)0.5 (\()0.6 (3)0.5 (\))0.5 ( )0.5 (o)0.5 (f)0.5 ( )0.5 (t)0.5 (h)0.5 (e)0.5 ( )0.5 (H)0.6 (o)0.5 (n)0.5 (g)0.5 ( )0.5 (K)0.5 (o)0.5 (n)0.5 (g)-1 ( )]TJ 0.025 Tc 0 -1.231 Td (Listing Rules.)Tj 0.07 Tw 0 -2.462 Td (The Company will appoint an independent financial adviser to provide adv\ ice to )Tj 0.023 Tc 0 Tw 0 -1.231 Td [(the independent board committee and independent shareholders on this tra\ nsaction)-2.1 ( )]TJ 0.033 Tc 0.075 Tw 0 -1.231 Td [(and)8 ( )0.5 (to)8 ( )0.5 (confirm)7.9 ( )0.5 (that)8 ( )0.5 (it)8 ( )0.5 (is)8 ( )0.5 (normal)8 ( )0.5 (business)8.1 ( )0.5 (practice)8 ( )0.5 (for)8 ( )0.5 (the)8 ( )0.5 (leases)8 ( )0.5 (with)8 ( )0.5 (more)8 ( )0.5 (than)8 ( )]TJ 0.025 Tc 0.015 Tw 0 -1.231 Td (three years to be of such duration. It is expected that a circular conta\ ining, among )Tj 0.003 Tw 0 -1.231 Td (other things, details of the transaction and other information required \ by the Hong )Tj 0.036 Tc 0.072 Tw 0 -1.231 Td [(Kong)11 ( )0.5 (Lis)0.5 (ting)11 ( )0.5 (Rules)11 ( )0.5 (will)11 ( )0.5 (be)11.1 ( )0.5 (despatc)0.5 (hed)11 ( )0.5 (to)11 ( )0.5 (H)11 ( )0.5 (Shareh)0.5 (olders)11 ( )0.5 (on)11 ( )0.5 (or)11 ( )0.5 (befo)0.5 (re)11 ( )0.5 (1)11 (7)11 ( )0.5 (May)11 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.231 Td (2022.)Tj 0.092 Tc 0.07 Tw 0 -2.462 Td [(It)12.5 ( is)12.5 ( expected)12.5 ( the)12.5 ( transactions)12.5 ( contemplated)12.4 ( under)12.5 ( the)12.5 ( Equity)12.4 ( Transfer)67 ( )]TJ 0.025 Tc 0.022 Tw 0 -1.231 Td (Agreement shareholders meeting will be considered by shareholders at the\ annual )Tj 0.059 Tc 0.07 Tw 0 -1.231 Td [(general)12.8 ( meeting)12.8 ( of)12.8 ( the)12.8 ( Company)12.8 ( to)12.8 ( be)12.8 ( held)12.8 ( on)12.8 ( 1)12.8 (7)12.8 ( June)12.7 ( 2)12.8 (0)12.8 (2)12.7 (2)12.8 ( where)12.7 ( Jiangsu)33.9 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (Communications Holdings and its associates shall abstain from voting.)Tj ET endstream endobj 69 0 obj <>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 46 \226)Tj ET q 0 Tc 0 g /GS1 gs 0 TL/Fm0 Do Q BT 0.077 Tw 13 0 0 13 85.0394 776.3179 Tm [(This )0.5 (related )0.5 (party )0.5 (transaction )0.5 (does )0.5 (not )0.5 (constitute )0.5 (a )0.5 (major )0.5 (asset )0.5 (reorganization )0.5 (as )]TJ 0.018 Tw 0 -1.231 Td (stipulated in the Measures for the Administration of Major Asset Restruc\ turing of )Tj 0 Tw 0 -1.231 Td (Listed Companies.)Tj 0.046 Tc 0.07 Tw 0 -2.462 Td [(Given)12.7 ( the)12.7 ( ordinary)12.7 ( related)12.7 ( parties)12.7 ( transactions)12.7 ( after)12.7 ( the)12.7 ( Completion)12.7 ( \()12.7 (together)21 ( )]TJ 0.026 Tc 0.082 Tw 0 -1.231 Td [(with)1 ( )0.5 (the)1 ( )0.5 (same)1 ( )0.5 (type)1.1 ( )0.5 (of)1 ( )0.5 (business)1 ( )0.5 (provided)1 ( )0.5 (to)1 ( )0.5 (the)1 ( )0.5 (Group)1 (\))1 ( )0.5 (would)1 ( )0.5 (not)1 ( )0.5 (reach)1 ( )0.5 (0)0.9 (.)1 (5)1 (%)1.1 ( )0.5 (of)1 ( )]TJ 0.025 Tc 0.054 Tw 0 -1.231 Td (the absolute value of the Company\222s latest audited net assets, they d\ o not trigger )Tj 0.021 Tw 0 -1.231 Td (and are exempt from the related parties transaction disclosure requireme\ nts of the )Tj 0.019 Tw 0 -1.231 Td (Shanghai Listing Rules. For the leases with tenure more than 3 years, th\ ey should )Tj 0 Tw 0 -1.231 Td (be subject to review of the board of directors of the Company every thre\ e years.)Tj 0.07 Tc 0.07 Tw 0 -2.462 Td [(As)12.5 ( Jiangsu)12.5 ( Communications)12.5 ( Holding)12.5 ( is)12.5 ( the)12.5 ( controlling)12.5 ( shareholder)12.5 ( of)12.5 ( the)45 ( )]TJ 0.033 Tc 0.075 Tw 0 -1.231 Td [(Company)8 (,)8 ( )0.5 (it)8 ( )0.5 (is)8 ( )0.5 (a)8 ( )0.5 (connected)8 ( )0.5 (person)8 ( )0.5 (of)8 ( )0.5 (the)8 ( )0.5 (Company)8 ( )0.5 (pursuant)8 ( )0.5 (to)8 ( )0.5 (Rule)8.1 ( )0.5 (1)8 (4)8 (A)8 (.)8 (0)8 (7)8 ( )0.5 (of)8 ( )]TJ 0.046 Tc 0.07 Tw 0 -1.231 Td [(the)12.5 ( Hong)12.5 ( Kong)12.5 ( Listing)12.5 ( Rules)12.5 (.)12.5 ( Hence)12.5 (,)12.5 ( the)12.4 ( Equity)12.5 ( Transfer)12.5 ( Agreement)12.5 ( and)12.5 ( the)21 ( )]TJ 0 -1.231 Td [(transactions)12.2 ( contemplated)12.2 ( thereunder)12.2 ( constitute)12.3 ( connected)12.2 ( transactions)12.2 ( of)12.2 ( the)21 ( )]TJ 0.025 Tc 0.051 Tw 0 -1.231 Td (Company. The Consideration is RMB2,457 million. In addition, \(i\) the C\ ompany )Tj 0.061 Tc 0.07 Tw 0 -1.231 Td [(u)0.6 (n)0.5 (d)0.6 (e)0.5 (r)0.6 (t)0.6 (a)0.5 (k)0.6 (e)0.6 (s)13 ( )0.6 (t)0.6 (o)13 ( )0.6 (r)0.5 (e)0.6 (p)0.6 (l)0.5 (a)0.6 (c)0.6 (e)13 ( )0.6 (J)0.6 (i)0.5 (a)0.6 (n)0.6 (g)0.5 (s)0.6 (u)13 ( )0.6 (C)0.6 (o)0.5 (m)0.6 (m)0.6 (u)0.5 (n)0.6 (i)0.5 (c)0.6 (a)0.6 (t)0.5 (i)0.6 (o)0.5 (n)0.6 (s)13 ( )0.6 (H)0.6 (o)0.5 (l)0.6 (d)0.6 (i)0.5 (n)0.6 (g)13 ( )0.6 (a)0.6 (s)13 ( )0.6 (t)0.6 (h)0.5 (e)13.1 ( )0.6 (g)0.5 (u)0.6 (a)0.5 (r)0.6 (a)0.6 (n)0.5 (t)0.6 (o)0.5 (r)13.1 ( )0.6 (o)0.5 (f)36 ( )]TJ 0.038 Tc 0 -1.231 Td [(the)12.7 ( loan)12.8 ( advanced)12.7 ( by)12.7 ( the)12.8 ( State)12.8 ( Development)12.7 ( Bank)12.7 (,)12.7 ( Jiangsu)12.7 ( Branch)12.7 (,)12.7 ( to)12.7 ( Rudong)13 ( )]TJ 0.031 Tc 0.077 Tw 0 -1.231 Td [(Company)6 ( )0.5 (\()6.1 (total)6 ( )0.5 (credit)6 ( )0.5 (facility)6 ( )0.5 (is)6 ( )0.5 (RMB)6 (4)6 ( )0.5 (billion)6 (,)6 ( )0.5 (and)6 ( )0.5 (the)6 ( )0.5 (loan)6 ( )0.5 (withdrawn)6 ( )0.5 (amount)6 ( )]TJ 0.025 Tc 0.041 Tw 0 -1.231 Td (is RMB2,363 million\) within 1 year from the Completion Date, \(ii\) the\ Company )Tj 0.073 Tc 0.07 Tw 0 -1.231 Td [(will)12.8 ( provide)12.7 ( financial)12.7 ( assistance)12.8 ( to)12.7 ( YS)12.8 ( Energy)12.7 ( Company)12.8 ( to)12.7 ( replace)12.7 ( loans)48 ( )]TJ 0.025 Tc 0.065 Tw 0 -1.231 Td (advanced by Jiangsu Communications Holding and its associates, if all lo\ ans are )Tj 0.029 Tc 0.079 Tw 0 -1.231 Td [(repaid)4 ( )0.5 (in)4 ( )0.5 (full)4 ( )0.5 (\()4 (except)4 ( )0.5 (for)4 ( )0.5 (the)4 ( )0.5 (RMB)4 (3)4 (0)4 (0)4.1 ( )0.5 (million)4 ( )0.5 (loan)4 ( )0.5 (by)4 ( )0.6 (Jiangsu)4 ( )0.5 (Communications)4 ( )]TJ 0.05 Tc 0.07 Tw 0 -1.231 Td [(Holding)12.7 ( to)12.7 ( Rudong)12.7 ( Company)12.8 ( from)12.7 ( designated)12.7 ( use)12.7 ( of)12.7 ( proceeds)12.7 ( of)12.8 ( an)12.7 ( issue)12.7 ( of)25.1 ( )]TJ 0.025 Tc 0.063 Tw 0 -1.231 Td (green bonds\), such shareholder loan\(s\) will amount to RMB560.716 mill\ ion, and )Tj 0.049 Tw 0 -1.231 Td (\(iii\) the Company shall be responsible for paying the unpaid registere\ d capital of )Tj 0.063 Tw 0 -1.231 Td (RMB276 million of YS Energy Company due in 2025. As the highest applicab\ le )Tj 0.042 Tc 0.07 Tw 0 -1.231 Td [(percentage)12.6 ( ratio)12.6 ( calculated)12.6 ( according)12.6 ( to)12.5 ( Rule)12.6 ( 1)12.5 (4)12.6 (.)12.6 (0)12.6 (7)12.5 ( of)12.6 ( the)12.6 ( Hong)12.6 ( Kong)12.6 ( Listing)17 ( )]TJ 0.064 Tc 0 -1.231 Td [(Rules)12.8 ( is)12.9 ( above)12.8 ( 5)12.8 (%)12.9 ( but)12.8 ( below)12.8 ( 2)12.9 (5)12.8 (%)12.9 (,)12.8 ( the)12.8 ( Equity)12.8 ( Transfer)12.8 ( Agreement)12.8 ( and)12.9 ( the)39 ( )]TJ 0.036 Tc 0.072 Tw 0 -1.231 Td [(t)0.5 (ra)0.5 (ns)0.5 (ac)0.5 (t)0.5 (io)0.5 (ns)11 ( )0.5 (c)0.5 (on)0.5 (te)0.5 (m)0.5 (pl)0.5 (at)0.5 (e)0.5 (d)10.9 ( )0.6 (the)0.5 (r)0.5 (eu)0.5 (nd)0.5 (er)11.1 ( )0.5 (al)0.5 (so)11 ( )0.5 (c)0.5 (o)0.5 (ns)0.5 (ti)0.5 (tu)0.5 (te)11 ( )0.5 (a)11 ( )0.5 (d)0.5 (is)0.5 (c)0.5 (lo)0.5 (se)0.5 (a)0.5 (bl)0.5 (e)11 ( )0.5 (tr)0.5 (an)0.5 (s)0.5 (ac)0.5 (ti)0.5 (on)11 (.)11 ( )]TJ 0.025 Tc 0.031 Tw 0 -1.231 Td (As such, the transaction is subject to the notification, announcement, c\ ircular and )Tj 0.024 Tc 0 Tw 0 -1.231 Td [(i)0.5 (n)0.6 (d)0.5 (e)0.6 (p)0.5 (e)0.6 (n)0.5 (d)0.5 (e)0.6 (n)0.5 (t)0.6 ( )0.5 (s)0.5 (h)0.6 (a)0.5 (r)0.6 (e)0.5 (h)0.6 (o)0.5 (l)0.5 (d)0.6 (e)0.5 (r)0.6 (s)0.5 (\222)0.6 ( )0.5 (a)0.6 (p)0.5 (p)0.5 (r)0.6 (o)0.5 (v)0.5 (a)0.6 (l)0.5 ( )0.6 (r)0.5 (e)0.6 (q)0.5 (u)0.5 (i)0.6 (r)0.5 (e)0.6 (m)0.5 (e)0.6 (n)0.5 (t)0.6 (s)0.5 ( )0.5 (\()0.6 (w)0.5 (h)0.6 (e)0.5 (r)0.6 (e)0.5 ( )0.5 (J)0.6 (i)0.5 (a)0.6 (n)0.5 (g)0.6 (s)0.5 (u)0.5 ( )0.6 (C)0.5 (o)0.6 (m)0.5 (m)0.5 (u)0.6 (n)0.5 (i)0.6 (c)0.5 (a)0.5 (t)0.6 (i)0.5 (o)0.6 (n)0.5 (s)-1 ( )]TJ 0.026 Tc 0.082 Tw 0 -1.231 Td [(Holding)1 ( )0.5 (and)1 ( )0.5 (its)1 ( )0.5 (associates)1 ( )0.5 (shall)1 ( )0.6 (abstain)1 ( )0.5 (from)1 ( )0.5 (voting)1 (\))1.1 ( )0.5 (under)1 ( )0.5 (Rules)1 ( )0.5 (1)1 (4)1 (.)1 (3)1 (3)1 (,)1 ( )0.5 (1)1 (4)1 (A)1 (.)1 (3)1 (5)1 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (and 14A.36 of the Hong Kong Listing Rules.)Tj 0.038 Tc 0.07 Tw 0 -2.462 Td [(T)0.5 (he)13 ( )0.5 (e)0.5 (xi)0.5 (s)0.5 (ti)0.5 (n)0.5 (g)12.9 ( )0.5 (t)0.5 (ra)0.5 (n)0.5 (sa)0.5 (c)0.5 (t)0.5 (io)0.5 (n)0.5 (s)12.9 ( )0.5 (b)0.5 (et)0.5 (w)0.5 (e)0.5 (en)13 ( )0.5 (th)0.5 (e)13 ( T)0.5 (a)0.5 (r)0.5 (ge)0.5 (t)13 ( )0.5 (Gr)0.5 (o)0.5 (up)13 ( )0.5 (\()12.9 (o)0.5 (n)13 ( o)0.5 (n)0.5 (e)12.9 ( )0.5 (h)0.5 (an)0.5 (d)13 (\))13 ( a)0.5 (n)0.5 (d)12.9 ( )0.5 (J)0.5 (ia)0.5 (n)0.5 (g)0.5 (su)13 ( )]TJ 0.025 Tc 0.083 Tw 0 -1.231 Td [(Communications )0.5 (Holding and its )0.5 (associates )0.5 (\(on )0.5 (the )0.5 (other )0.5 (hand\) )0.5 (as )0.5 (set )0.5 (out )0.5 (in the )]TJ 0.078 Tw 0 -1.231 Td (section \223V Continued Connected Transactions Upon Completion\224 will \ constitute )Tj 0.017 Tw 0 -1.231 Td (continuing connected transactions on the Completion Date. Except for the\ deposit )Tj 0.036 Tc 0.072 Tw 0 -1.231 Td [(services)11 (,)11 ( )0.5 (long)10.9 (-)11.1 (distance)11 ( )0.5 (car)11 ( )0.5 (rental)11 ( )0.5 (services)11 (,)11 ( )0.5 (training)11 ( )0.5 (services)11 (,)11 ( )0.5 (etc)11 (.)11 ( )0.5 (\()11 (together)11 ( )0.5 (with)11 ( )]TJ 0.046 Tc 0.07 Tw 0 -1.231 Td [(similar)12.5 ( services)12.5 ( provided)12.5 ( to)12.5 ( the)12.5 ( Group)12.5 (\))12.5 ( which)12.5 ( the)12.5 ( relevant)12.5 ( highest)12.4 ( applicable)21 ( )]TJ 0.026 Tc 0.082 Tw 0 -1.231 Td [(percentage)1 ( )0.5 (ratios)1 ( )0.5 (more)1 ( )0.5 (than)1 ( )0.5 (0)1 (.)1 (1)1 (%)1 ( )0.5 (but)1 ( )0.5 (less)1 ( )0.5 (than)1 ( )0.5 (5)1 (%)1 ( )0.5 (and)1 ( )0.5 (are)1.1 ( )0.5 (subject)1 ( )0.6 (to)0.9 ( )0.6 (disclosure)1 ( )]TJ 0.056 Tc 0.07 Tw 0 -1.231 Td [(and)12.9 ( annual)12.9 ( revie)0.5 (w)12.9 ( requirements)12.9 ( but)12.9 ( exempt)12.9 ( from)12.9 ( independen)0.5 (t)12.8 ( s)0.5 (ha)0.5 (reholders)12.9 (\222)31 ( )]TJ 0.046 Tc 0 -1.231 Td [(approval)12.2 (,)12.2 ( in)12.2 ( respect)12.2 ( of)12.2 ( the)12.2 ( other)12.2 ( continuing)12.2 ( connected)12.1 ( transactions)12.2 (,)12.2 ( given)12.2 ( the)21 ( )]TJ 0.026 Tc 0.082 Tw 0 -1.231 Td [(nature)1 ( )0.5 (of)1 ( )0.5 (the)1 ( )0.5 (transactions)1 ( )0.5 (and)1 (/)1 (or)1 ( )0.5 (the)1 ( )0.6 (relevant)1 ( )0.5 (highest)1 ( )0.5 (applicable)1 ( )0.5 (percentage)1 ( )0.5 (ratio)1 ( )]TJ ET endstream endobj 58 0 obj </LastModified/NumberOfPageItemsInPage 2/NumberofPages 1/OriginalDocumentID/PageItemUIDToLocationDataMap<>/PageTransformationMatrixList<>/PageUIDList<>/PageWidthList<>>>>>/Resources<>/Font<>/ProcSet[/PDF/Text]/XObject<>>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page>> endobj 59 0 obj </LastModified/NumberOfPageItemsInPage 2/NumberofPages 1/OriginalDocumentID/PageItemUIDToLocationDataMap<>/PageTransformationMatrixList<>/PageUIDList<>/PageWidthList<>>>>>/Resources<>/Font<>/ProcSet[/PDF/Text]/XObject<>>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page>> endobj 60 0 obj </LastModified/NumberOfPageItemsInPage 2/NumberofPages 1/OriginalDocumentID/PageItemUIDToLocationDataMap<>/PageTransformationMatrixList<>/PageUIDList<>/PageWidthList<>>>>>/Resources<>/Font<>/ProcSet[/PDF/Text]/XObject<>>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page>> endobj 61 0 obj </LastModified/NumberOfPageItemsInPage 2/NumberofPages 1/OriginalDocumentID/PageItemUIDToLocationDataMap<>/PageTransformationMatrixList<>/PageUIDList<>/PageWidthList<>>>>>/Resources<>/Font<>/ProcSet[/PDF/Text]/XObject<>>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page>> endobj 62 0 obj </LastModified/NumberOfPageItemsInPage 2/NumberofPages 1/OriginalDocumentID/PageItemUIDToLocationDataMap<>/PageTransformationMatrixList<>/PageUIDList<>/PageWidthList<>>>>>/Resources<>/Font<>/ProcSet[/PDF/Text]/XObject<>>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page>> endobj 89 0 obj <>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 45 \226)Tj ET q 0 Tc 0 g /GS1 gs 0 TL/Fm0 Do Q BT 0.031 Tc 0.077 Tw 13 0 0 13 113.3858 776.3179 Tm [(Co)6 (.)6 (,)6.1 ( )0.5 (Ltd)6 (.)6 ( )0.5 (\()6 (8)6 (.)6.1 (9)5.9 (1)6.1 (%)6 (\))6 ( )0.5 (\()6 (th)0.5 (e)6 ( )0.5 (ult)0.5 (imat)0.5 (e)6 ( )0.5 (be)0.5 (nef)0.5 (ici)0.5 (al)6 ( )0.5 (ow)0.5 (ner)6 ( )0.6 (is)6 ( )0.5 (the)6.1 ( )0.5 (Sta)0.5 (te)6 (-)6 (ow)0.5 (ne)0.5 (d)6 ( )0.5 (Ass)0.5 (ets)6 ( )]TJ 0.023 Tc 0 Tw 0 -1.231 Td [(S)0.5 (up)0.5 (e)0.5 (rv)0.5 (i)0.5 (si)0.5 (o)0.5 (n )0.5 (a)0.5 (nd)0.5 ( )0.5 (Ad)0.5 (m)0.5 (in)0.5 (i)0.5 (st)0.5 (r)0.5 (at)0.5 (i)0.5 (on)0.5 ( O)0.5 (f)0.5 (f)0.5 (ic)0.5 (e)0.5 ( )0.5 (of)0.5 ( )0.5 (Ch)0.5 (a)0.5 (ng)0.5 (s)0.5 (hu)0.5 ( )0.5 (Mu)0.5 (n)0.5 (ic)0.5 (i)0.5 (pa)0.5 (l)0.5 ( G)0.5 (o)0.5 (ve)0.5 (r)0.5 (n)0.5 (me)0.5 (n)0.5 (t\))0.5 (,)-2 ( )]TJ 0.064 Tc 0.07 Tw 0 -1.231 Td [(Zhangjiagang)12.2 ( Municipal)12.2 ( Public)12.2 ( Assets)12.2 ( Management)12.2 ( Co)12.2 (.)12.2 (,)12.2 ( Ltd)12.1 (.)12.3 ( \()12.2 (6)12.2 (.)12.2 (4)12.2 (1)12.2 (%)12.2 (\))39 ( )]TJ 0.058 Tc 0 -1.231 Td [(\()12.8 (the)12.8 ( ultimate)12.8 ( beneficial)12.7 ( owner)12.8 ( is)12.8 ( the)12.8 ( State)12.8 (-)12.8 (owned)12.8 ( Assets)12.8 ( Committee)12.8 ( of)33 ( )]TJ 0.025 Tc 0.006 Tw 0 -1.231 Td [(Zhangjiagang City\), Suzhou )0.5 (Taicang Shugang Expressway Co., Ltd. \(2.48%\) )]TJ 0.042 Tc 0.07 Tw 0 -1.231 Td [(\()12.5 (the)12.6 ( ultimate)12.5 ( beneficial)12.5 ( owner)12.5 ( is)12.5 ( the)12.5 ( State)12.5 (-)12.5 (owned)12.5 ( Assets)12.5 ( Supervision)12.5 ( and)17 ( )]TJ 0.062 Tc 0 -1.231 Td [(Administration)12.4 ( Office)12.4 ( of)12.3 ( Taicang)12.4 ( Municipal)12.4 ( Government)12.4 (\))12.4 (,)12.3 ( Changzhou)37 ( )]TJ 0.072 Tc 0 -1.231 Td [(Expressway)12.2 ( Investment)12.2 ( Development)12.2 ( Co)12.2 (.)12.1 (,)12.2 ( Ltd)12.2 (.)12.2 ( \()12.2 (1)12.2 (.)12.2 (5)12.2 (8)12.2 (%)12.2 (\))12.1 ( \()12.1 (the)12.2 ( ultimate)47 ( )]TJ 0.026 Tc 0.082 Tw 0 -1.231 Td [(b)0.5 (e)0.5 (ne)0.5 (f)0.5 (i)0.5 (ci)0.5 (a)0.5 (l)1 ( )0.5 (ow)0.5 (n)0.5 (e)0.5 (r)1 ( )0.5 (i)0.5 (s)1 ( )0.5 (th)0.5 (e)1 ( )0.5 (S)0.5 (t)0.5 (at)0.5 (e)1 (-)1 (o)0.5 (w)0.5 (n)0.5 (ed)1 ( )0.5 (A)0.5 (s)0.5 (s)0.5 (e)0.5 (ts)1 ( )0.5 (S)0.5 (u)0.5 (pe)0.5 (r)0.5 (v)0.5 (is)0.5 (i)0.5 (o)0.5 (n)0.9 ( )0.6 (an)0.5 (d)1 ( )0.5 (A)0.5 (d)0.5 (mi)0.5 (n)0.5 (is)0.5 (t)0.5 (ra)0.5 (t)0.5 (i)0.5 (on)1 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (Commission of Changzhou City\).)Tj 0.043 Tc 0.07 Tw 0 -2.462 Td [(Jiangsu)12.1 ( Ningsu)12.2 (-)12.2 (Xu)12.2 ( Expressway)12.1 ( Co)12.1 (.)12.2 (,)12.2 ( Ltd)12.1 (.)12.2 ( is)12.2 ( responsible)12.2 ( for)12.1 ( the)12.2 ( operation)18 ( )]TJ 0.025 Tc 0.071 Tw 0 -1.231 Td (and management of the Xinyi-Xuyi section of Xinyi-Yangzhou Expressway )Tj 0.046 Tc 0.07 Tw 0 -1.231 Td [(\()12.9 (S)12.8 (4)12.9 (9)12.9 (\))12.9 ( Xinyi)12.9 (-)12.8 (Xuyi)12.8 ( Section)12.8 (,)12.9 ( the)12.9 ( Xuzhou)12.9 (-)12.9 (Suqian)12.9 ( section)12.9 ( of)12.9 ( Huaian)12.8 (-)12.9 (Xuzhou)21.1 ( )]TJ 0.025 Tc 0.002 Tw 0 -1.231 Td (Expressway \(G2513\), the Jiangsu section of Xuzhou Mingguang Expressway\ )Tj 0.067 Tc 0.07 Tw 0 -1.231 Td [(\()12.9 (S)12.9 (6)12.9 (5)12.9 (\))12.9 (,)12.9 ( Suqian)12.9 ( section)12.9 ( of)12.9 ( Yancheng)12.9 ( Luoyang)12.9 ( Expressway)12.9 ( \()12.9 (G)12.9 (1)12.9 (5)12.9 (1)12.9 (6)12.9 (\))12.9 ( and)42 ( )]TJ 0.069 Tc 0 -1.231 Td [(Suqian)12.7 ( branch)12.8 ( line)12.7 ( \()12.8 (S)12.8 (9)12.7 (6)12.8 (\))12.8 ( with)12.7 ( a)12.8 ( total)12.7 ( of)12.8 ( 3)12.8 (5)12.8 (9)12.8 ( k)12.8 (.)12.8 (m)12.7 (.)12.8 ( of)12.7 ( expressways)12.8 (.)12.7 ( Its)44 ( )]TJ 0.039 Tc 0 -1.231 Td [(shareholders)12.6 ( are)12.6 ( Jiangsu)12.5 ( Communications)12.6 ( Holding)12.6 ( \()12.6 (9)12.6 (3)12.6 (.)12.5 (4)12.6 (2)12.6 (%)12.5 (\))12.6 ( \()12.6 (the)12.6 ( ultimate)14 ( )]TJ 0.026 Tc 0.082 Tw 0 -1.231 Td [(b)0.5 (e)0.5 (ne)0.5 (f)0.5 (i)0.5 (ci)0.5 (a)0.5 (l)1 ( )0.5 (ow)0.5 (n)0.5 (e)0.5 (r)1 ( )0.5 (i)0.5 (s)1 ( )0.5 (th)0.5 (e)1 ( )0.5 (S)0.5 (t)0.5 (at)0.5 (e)1 (-)1 (o)0.5 (w)0.5 (n)0.5 (ed)1 ( )0.5 (A)0.5 (s)0.5 (s)0.5 (e)0.5 (ts)1 ( )0.5 (S)0.5 (u)0.5 (pe)0.5 (r)0.5 (v)0.5 (is)0.5 (i)0.5 (o)0.5 (n)0.9 ( )0.6 (an)0.5 (d)1 ( )0.5 (A)0.5 (d)0.5 (mi)0.5 (n)0.5 (is)0.5 (t)0.5 (ra)0.5 (t)0.5 (i)0.5 (on)1 ( )]TJ 0.061 Tc 0.07 Tw 0 -1.231 Td [(Commission)12.1 ( of)12.1 ( the)12 ( People)12.1 (\222)12.1 (s)12.1 ( Government)12.1 ( of)12.1 ( Jiangsu)12.1 ( Province)12.1 (\))12 (,)12.1 ( Suqian)36 ( )]TJ 0.046 Tc 0 -1.231 Td [(Transportation)12.5 ( Industry)12.5 ( Group)12.5 ( Co)12.5 (.)12.5 (,)12.5 ( Ltd)12.5 (.)12.5 ( \()12.5 (4)12.6 (.)12.5 (4)12.5 (7)12.5 (%)12.5 (\))12.5 ( \()12.6 (the)12.5 ( ultimate)12.5 ( beneficial)21 ( )]TJ 0.103 Tc 0 -1.231 Td [(owner)12.2 ( is)12.1 ( the)12.2 ( State)12.2 (-)12.2 (owned)12.1 ( Assets)12.1 ( Supervision)12.1 ( and)12.2 ( Administration)78 ( )]TJ 0.065 Tc 0 -1.231 Td [(Commission)12.6 ( of)12.6 ( the)12.6 ( Suqian)12.6 ( Municipal)12.6 ( People)12.6 (\222)12.6 (s)12.5 ( Government)12.5 (\))12.6 (\))12.5 (,)12.6 ( Xuzhou)40 ( )]TJ 0.068 Tc 0 -1.231 Td [(State)12.1 (-)12.1 (owned)12.1 ( Assets)12.1 ( Investment)12.2 ( Management)12.1 ( Group)12.1 ( Co)12.1 (.)12.1 (,)12.1 ( Ltd)12.1 (.)12.1 ( \()12.2 (1)12.1 (.)12.1 (3)12.1 (0)12.1 (%)12.2 (\))43 ( )]TJ 0.042 Tc 0 -1.231 Td [(\()12.5 (the)12.6 ( ultimate)12.5 ( beneficial)12.5 ( owner)12.5 ( is)12.5 ( the)12.5 ( State)12.5 (-)12.5 (owned)12.5 ( Assets)12.5 ( Supervision)12.5 ( and)17 ( )]TJ 0.04 Tc 0 -1.231 Td [(Administration)12.1 ( Commission)12.1 ( of)12.2 ( Xuzhou)12.1 ( Municipal)12.1 ( People)12.2 (\222)12.1 (s)12.2 ( Government)12.1 (\))12.1 (,)15 ( )]TJ 0.092 Tc 0 -1.231 Td [(Huai)12.6 (\222)12.6 (an)12.6 ( Jiaotongtu)12.6 ( Holding)12.6 ( Group)12.6 ( Co)12.6 (.)12.6 (,)12.6 ( Ltd)12.7 (.)12.6 ( \()12.6 (0)12.6 (.)12.6 (8)12.6 (1)12.7 (%)12.6 (\))12.6 ( \()12.6 (the)12.7 ( ultimate)67 ( )]TJ 0.026 Tc 0.082 Tw 0 -1.231 Td [(b)0.5 (e)0.5 (ne)0.5 (f)0.5 (i)0.5 (ci)0.5 (a)0.5 (l)1 ( )0.5 (ow)0.5 (n)0.5 (e)0.5 (r)1 ( )0.5 (i)0.5 (s)1 ( )0.5 (th)0.5 (e)1 ( )0.5 (S)0.5 (t)0.5 (at)0.5 (e)1 (-)1 (o)0.5 (w)0.5 (n)0.5 (ed)1 ( )0.5 (A)0.5 (s)0.5 (s)0.5 (e)0.5 (ts)1 ( )0.5 (S)0.5 (u)0.5 (pe)0.5 (r)0.5 (v)0.5 (is)0.5 (i)0.5 (o)0.5 (n)0.9 ( )0.6 (an)0.5 (d)1 ( )0.5 (A)0.5 (d)0.5 (mi)0.5 (n)0.5 (is)0.5 (t)0.5 (ra)0.5 (t)0.5 (i)0.5 (on)1 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (Commission of the People\222s Government of Huai\222an City\).)Tj /T1_1 1 Tf -4.361 -2.462 Td [(VI )-744.5 (LISTING RULES IMPLICATIONS)]TJ /T1_0 1 Tf 0.047 Tc 0.07 Tw 2.18 -2.462 Td [(According)12.8 ( to)12.8 ( Article)12.9 ( 6)12.9 (.)12.9 (3)12.8 (.)12.9 (3)12.9 ( of)12.8 ( the)12.9 ( Shanghai)12.8 ( Listing)12.8 ( Rules)12.9 (,)12.8 ( the)12.9 ( counterparty)12.9 ( of)22 ( )]TJ 0.049 Tc 0 -1.231 Td [(the)12.6 ( Equity)12.6 ( Transfer)12.7 ( Agreement)12.6 ( is)12.6 ( a)12.7 ( related)12.6 ( party)12.6 ( of)12.6 ( the)12.6 ( Company)12.6 (,)12.6 ( hence)12.6 (,)12.5 ( the)24 ( )]TJ 0.053 Tc 0 -1.231 Td [(transaction)12.9 ( constitutes)12.8 ( a)12.8 ( related)12.8 ( party)12.8 ( transaction)12.8 (.)12.8 ( The)12.9 ( transaction)12.9 ( should)12.9 ( be)28 ( )]TJ 0.047 Tc 0 -1.231 Td [(calculated)12.7 ( cumulatively)12.7 ( according)12.6 ( to)12.7 ( the)12.7 ( \223)12.7 (principle)12.8 ( of)12.7 ( cumulative)12.7 ( calculation)22 ( )]TJ 0.02 Tc 0 Tw 0 -1.231 Td [(within 12 consecutive months\224 to meet the disclosure requirements of \ Article 6.3.7)-5 ( )]TJ 0.029 Tc 0.079 Tw 0 -1.231 Td [(of)4 ( )0.5 (the)4.1 ( )0.5 (Shanghai)4 ( )0.5 (Listing)4 ( )0.5 (Rules)4 (.)4 ( )0.5 (The)4 ( )0.6 (proportion)4 ( )0.5 (of)4 ( )0.5 (the)4 ( )0.5 (aggregate)4 ( )0.6 (relevant)4 ( )0.5 (amount)4 ( )]TJ 0.025 Tc 0.003 Tw 0 -1.231 Td [(to the absolute value of the Company\222s latest audited net assets is )0.5 (higher than 5%. )]TJ 0.034 Tw 0 -1.231 Td [(Therefore, this transaction needs )0.5 (to be submitted )0.5 (to the shareholders\222 meeting for )]TJ 0 Tw 0 -1.231 Td (approval and Jiangsu Communications Holding shall abstain from voting.)Tj ET endstream endobj 88 0 obj <>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 44 \226)Tj ET q 0 Tc 0 g /GS1 gs 0 TL/Fm0 Do Q BT 0.056 Tc 0.069 Tw 13 0 0 13 113.3858 776.3179 Tm [(C)0.5 (o)0.6 (m)0.5 (m)0.5 (i)0.6 (s)0.5 (s)0.5 (i)0.5 (o)0.6 (n)13 ( o)0.6 (f)13 ( t)0.5 (h)0.6 (e)13 ( P)0.6 (e)0.5 (o)0.5 (p)0.6 (l)0.5 (e)13 (\222)13.1 (s)13 ( G)0.6 (o)0.5 (v)0.5 (e)0.6 (r)0.5 (n)0.5 (m)0.6 (e)0.5 (n)0.5 (t)13.1 ( o)0.5 (f)13 ( J)0.5 (i)0.5 (a)0.6 (n)0.5 (g)0.5 (s)0.6 (u)13 ( P)0.6 (r)0.5 (o)0.5 (v)0.5 (i)0.6 (n)0.5 (c)0.5 (e)13.1 (\))13 (,)13 ( X)0.5 (u)0.6 (z)0.5 (h)0.5 (o)0.5 (u)31 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td [(Construction Machinery Group Co., Ltd. )-208 (\()-28.8 (5)-28.8 (.)-28.7 (2)-28.8 (7)-28.8 (%)-28.8 (\))-28.8 ( )-111.3 (\()-28.7 (t)-41.3 (h)-41.3 (e)-28.8 ( )-111.3 (u)-41.3 (l)-41.3 (t)-41.3 (i)-41.2 (m)-41.3 (a)-41.3 (t)-41.3 (e)-28.8 ( )-111.2 (b)-41.3 (e)-41.3 (n)-41.3 (e)-41.3 (f)-41.3 (i)-41.3 (c)-41.2 (i)-41.3 (a)-41.3 (l )]TJ 0.103 Tc 0.07 Tw 0 -1.231 Td [(owner)12.2 ( is)12.1 ( the)12.2 ( State)12.2 (-)12.2 (owned)12.1 ( Assets)12.1 ( Supervision)12.1 ( and)12.2 ( Administration)78 ( )]TJ 0.097 Tc 0 -1.231 Td [(Commission)12.1 ( of)12.1 ( the)12.1 ( Xuzhou)12.1 ( Municipal)12.1 ( People)12.2 (\222)12.1 (s)12.1 ( Government)12.1 (\))12.1 (,)12.2 ( and)72 ( )]TJ 0.022 Tc 0 Tw 0 -1.231 Td [(L)0.5 (ia)0.5 (nyu)0.5 (ng)0.5 (an)0.5 (g )0.5 (Ha)0.5 (it)0.5 (on)0.5 (g )0.5 (Gr)0.5 (ou)0.5 (p )0.5 (Co)0.5 (.,)0.5 ( Lt)0.5 (d.)0.5 ( \()0.5 (2.)0.5 (40)0.5 (%\))0.5 ( \()0.5 (th)0.5 (e )0.5 (ul)0.5 (tim)0.5 (at)0.5 (e)0.5 ( be)0.5 (ne)0.5 (f)0.5 (ic)0.5 (ia)0.5 (l )0.5 (ow)0.5 (ne)0.5 (r)-3 ( )]TJ 0.038 Tc 0.07 Tw 0 -1.231 Td [(is)12.8 ( the)12.7 ( State)12.7 (-)12.8 (owned)12.7 ( Assets)12.7 ( Supervision)12.7 ( and)12.8 ( Administration)12.7 ( Commission)12.8 ( of)13 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (the Lianyungang Municipal People\222s Government\).)Tj 0.047 Tc 0.07 Tw 0 -2.462 Td [(Jiangsu)12.1 ( Suhuaiyan)12.1 ( Expressway)12.1 ( Management)12.2 ( Co)12.2 (.)12.1 (,)12.1 ( Ltd)12.2 ( is)12.1 ( a)12.2 ( wholly)12.1 (-)12.2 (owned)22 ( )]TJ 0.055 Tc 0 -1.231 Td [(subsidiary)12.6 ( of)12.6 ( Jiangsu)12.6 ( Communications)12.5 ( Holding)12.5 ( \()12.5 (the)12.5 ( ultimate)12.6 ( beneficial)30 ( )]TJ 0.103 Tc 0 -1.231 Td [(owner)12.2 ( is)12.1 ( the)12.2 ( State)12.2 (-)12.2 (owned)12.1 ( Assets)12.1 ( Supervision)12.1 ( and)12.2 ( Administration)78 ( )]TJ 0.041 Tc 0 -1.231 Td [(Commission)12.4 ( of)12.4 ( the)12.4 ( People)12.4 (\222)12.3 (s)12.4 ( Government)12.4 ( of)12.3 ( Jiangsu)12.4 ( Province)12.4 (,)12.4 ( China)12.4 (\))12.4 (.)12.4 ( Its)16 ( )]TJ 0.025 Tc 0.024 Tw 0 -1.231 Td (main business is the investment, construction, management and maintenanc\ e )Tj 0.069 Tc 0.07 Tw 0 -1.231 Td [(and)12.3 ( toll)12.3 ( collections)12.3 ( of)12.3 ( the)12.3 ( 2)12.3 (1)12.3 (4)12.2 ( k)12.3 (.)12.3 (m)12.3 (.)12.3 ( Suhuai)12.2 (-)12.3 (Yan)12.3 ( section)12.3 ( of)12.3 ( the)12.3 ( Yanxu)44 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.231 Td (Expressway.)Tj 0.065 Tc 0.07 Tw 0 -2.462 Td [(Jia)0.5 (ngsu)12.9 ( Jinghu)12.9 ( Expressway)12.9 ( Co)12.9 (.)12.8 (,)12.9 ( Ltd)12.8 (.)12.9 ( operates)12.9 ( and)12.9 ( manages)12.9 ( about)12.8 ( 2)12.9 (9)12.9 (7)40 ( )]TJ 0.078 Tc 0 -1.231 Td [(k)12.7 (.)12.7 (m)12.7 (.)12.7 ( of)12.8 ( expressways)12.7 (,)12.7 ( including)12.7 ( 2)12.7 (6)12.7 (1)12.7 (.)12.7 (5)12.7 ( k)12.7 (.)12.7 (m)12.6 (.)12.7 ( of)12.7 ( Yihuaijiang)12.7 ( section)12.7 ( of)53 ( )]TJ 0.05 Tc 0 -1.231 Td [(B)0.5 (e)0.6 (i)0.6 (j)0.5 (i)0.6 (n)0.5 (g)13 (-)13.1 (S)0.5 (h)0.6 (a)0.6 (n)0.5 (g)0.5 (h)0.6 (a)0.6 (i)13 ( )0.6 (E)0.5 (x)0.6 (p)0.5 (r)0.5 (e)0.6 (s)0.6 (s)0.5 (w)0.6 (a)0.5 (y)13.1 ( )0.5 (a)0.6 (n)0.5 (d)13.1 ( )0.5 (3)13.1 (5)13 ( )0.6 (k)13 (.)13.1 (m)13 (.)13.1 ( )0.5 (o)0.6 (f)13 ( )0.6 (Y)0.5 (a)0.6 (n)0.5 (g)0.6 (z)0.5 (h)0.6 (o)0.5 (u)13.1 ( )0.5 (N)0.6 (o)0.6 (r)0.5 (t)0.5 (h)0.6 (w)0.6 (e)0.5 (s)0.6 (t)13 ( )0.6 (R)0.5 (i)0.6 (n)0.5 (g)25 ( )]TJ 0.052 Tc 0 -1.231 Td [(of)12.5 ( Yangzhou)12.5 ( Expressway)12.5 (.)12.5 ( Its)12.5 ( shareholders)12.5 ( are)12.5 ( Jiangsu)12.4 ( Communications)27 ( )]TJ 0.08 Tc 0 -1.231 Td [(Holding)12.8 ( \()12.7 (5)12.8 (5)12.8 (.)12.7 (2)12.8 (7)12.8 (%)12.7 (\))12.8 ( \()12.8 (the)12.8 ( ultimate)12.7 ( beneficial)12.8 ( owner)12.8 ( is)12.8 ( the)12.8 ( State)12.8 (-)12.7 (owned)55 ( )]TJ 0.082 Tc 0 -1.231 Td [(A)0.5 (s)0.5 (s)0.5 (e)0.5 (t)0.5 (s)13 ( )0.5 (S)0.5 (u)0.5 (pe)0.6 (r)0.5 (vi)0.5 (s)0.5 (i)0.5 (o)0.5 (n)13 ( )0.5 (a)0.5 (n)0.5 (d)13 ( )0.5 (A)0.5 (d)0.5 (m)0.5 (i)0.5 (n)0.5 (is)0.5 (t)0.5 (r)0.5 (a)0.5 (t)0.5 (i)0.5 (o)0.5 (n)13 ( )0.5 (C)0.5 (o)0.5 (m)0.5 (m)0.5 (is)0.5 (s)0.5 (i)0.5 (o)0.5 (n)13 ( )0.5 (o)0.5 (f)13 ( )0.5 (t)0.5 (h)0.5 (e)13 ( )0.5 (P)0.5 (e)0.5 (o)0.5 (p)0.5 (le)13 (\222)13 (s)57 ( )]TJ 0.06 Tc 0 -1.231 Td [(Government)12.2 ( of)12.2 ( Jiangsu)12.2 ( Province)12.2 (\))12.2 (,)12.2 ( Jiangsu)12.1 ( Yueda)12.2 ( Investment)12.2 ( Co)12.2 (.)12.2 (,)12.2 ( Ltd)12.1 (.)35 ( )]TJ 0.074 Tc 0 -1.231 Td [(\()12.2 (2)12.3 (1)12.2 (%)12.2 (,)12.2 ( listed)12.2 ( company)12.3 (:)12.2 ( 6)12.3 (0)12.2 (0)12.2 (8)12.2 (0)12.2 (5)12.3 (.)12.2 (SH)12.3 (\))12.2 (,)12.2 ( Yangzhou)12.2 ( Huajin)12.2 ( Transportation)49 ( )]TJ 0.069 Tc 0 -1.231 Td [(Construction)12.5 ( Co)12.5 (.)12.5 (,)12.5 ( Ltd)12.5 (.)12.5 ( \()12.5 (1)12.5 (1)12.5 (.)12.5 (7)12.5 (7)12.5 (%)12.5 (\))12.5 ( \()12.5 (the)12.5 ( ultimate)12.6 ( beneficial)12.5 ( owner)12.5 ( is)12.5 ( the)44 ( )]TJ 0.054 Tc 0 -1.231 Td [(State)12.3 (-)12.3 (owned)12.3 ( Assets)12.2 ( Supervision)12.2 ( and)12.3 ( Administration)12.2 ( Commission)12.3 ( of)12.3 ( the)29.1 ( )]TJ 0.079 Tc 0 -1.231 Td [(Yangzhou)12.6 ( Municipal)12.6 ( People)12.6 (\222)12.7 (s)12.6 ( Government)12.7 (\))12.6 (,)12.6 ( Huai)12.7 (\222)12.6 (an)12.6 ( Transportation)54 ( )]TJ 0.062 Tc 0 -1.231 Td [(Holding)12.6 ( Group)12.7 ( Co)12.6 (.)12.7 (,)12.6 ( Ltd)12.6 (.)12.7 ( \()12.7 (5)12.6 (.)12.7 (5)12.6 (4)12.7 (%)12.6 (\))12.7 ( \()12.7 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( management)12.8 ( of)12.8 ( toll)12.7 ( roads)12.8 ( and)12.7 ( bridges)12.8 (.)12.8 ( Its)41 ( )]TJ 0.055 Tc 0 -1.231 Td [(c)0.5 (or)0.5 (e)12.9 ( )0.5 (as)0.5 (se)0.5 (ts)13 ( i)0.5 (nc)0.5 (lu)0.5 (de)13 ( )0.5 (abo)0.5 (ut)13 ( 1)13 (3)12.9 (4)13 (.)12.9 (8)13 (7)12.9 ( )0.5 (k)12.9 (.)13 (m)12.9 (.)13 ( of)13 ( C)0.5 (ha)0.5 (ng)0.5 (z)0.5 (hou)13 (-)12.9 (T)0.5 (ai)0.5 (c)0.5 (an)0.5 (g)12.9 ( )0.5 (se)0.5 (ct)0.5 (io)0.5 (n)12.9 ( )0.5 (of)30 ( )]TJ 0.052 Tc 0 -1.231 Td [(the)12.4 ( Yanjiang)12.4 ( Expressway)12.5 (.)12.4 ( Its)12.4 ( shareholders)12.4 ( are)12.5 ( Jiangsu)12.5 ( Communications)27 ( )]TJ 0.028 Tc 0.08 Tw 0 -1.231 Td [(Holding)3 ( )0.5 (\()3 (5)3 (5)3 (.)3 (4)3 (6)3 (%)3 (\))3 ( )0.6 (\()3 (the)3 ( )0.5 (ultimate)3 ( )0.5 (be)0.5 (neficial)3 ( )0.5 (owne)0.5 (r)3 ( )0.5 (is)3 ( )0.5 (the)3 ( )0.5 (State)3.1 (-)3 (owned)3 ( )0.5 (Asset)0.5 (s)3 ( )]TJ 0.061 Tc 0.07 Tw 0 -1.231 Td [(Supervision)12.1 ( and)12.1 ( Administration)12 ( Commission)12 ( of)12.1 ( the)12.1 ( Jiangsu)12.1 ( Provincial)36 ( )]TJ 0.043 Tc 0 -1.231 Td [(People)12.7 (\222)12.7 (s)12.7 ( Government)12.7 (\))12.7 (,)12.6 ( Jiangsu)12.7 ( Guangjing)12.7 ( Xicheng)12.7 ( Expressway)12.7 ( Co)12.6 (.)12.7 (,)12.7 ( Ltd)12.7 (.)17.9 ( )]TJ 0.025 Tc 0.026 Tw 0 -1.231 Td (\(25.15\)% \(a 85% subsidiary of the Company\), Suzhou Yanjiang Expressw\ ay )Tj ET endstream endobj 87 0 obj <>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 43 \226)Tj ET q 0 Tc 0 g /GS1 gs 0 TL/Fm0 Do Q BT 0.075 Tc 0.07 Tw 13 0 0 13 113.3858 776.3179 Tm [(Jiangsu)12.9 ( Communications)12.8 ( Holding)12.9 ( Group)12.9 ( Finance)12.9 ( Co)12.9 (.)12.8 (,)12.9 ( Ltd)12.8 (.)12.9 ( is)12.8 ( mainly)50 ( )]TJ 0.033 Tc 0.075 Tw 0 -1.231 Td [(e)0.5 (n)0.5 (g)0.6 (a)0.5 (g)0.5 (e)0.6 (d)8 ( )0.5 (i)0.5 (n)8 ( )0.5 (t)0.5 (h)0.5 (e)8 ( )0.5 (p)0.6 (r)0.5 (o)0.5 (v)0.5 (i)0.6 (s)0.5 (i)0.5 (o)0.5 (n)8 ( )0.5 (o)0.5 (f)8.1 ( )0.5 (f)0.5 (i)0.5 (n)0.5 (a)0.6 (n)0.5 (c)0.5 (i)0.5 (a)0.6 (l)8 ( )0.5 (a)0.5 (n)0.5 (d)8 ( )0.5 (f)0.6 (i)0.5 (n)0.5 (a)0.5 (n)0.5 (c)0.6 (i)0.5 (n)0.5 (g)8 ( )0.5 (c)0.6 (o)0.5 (n)0.5 (s)0.5 (u)0.6 (l)0.5 (t)0.5 (a)0.5 (n)0.5 (c)0.6 (y)8 ( )0.5 (a)0.5 (n)0.5 (d)8 ( )0.5 (c)0.6 (r)0.5 (e)0.5 (d)0.5 (i)0.6 (t)8 ( )]TJ 0.043 Tc 0.07 Tw 0 -1.231 Td [(verification)12.4 ( and)12.4 ( relevant)12.4 ( consultancy)12.4 ( and)12.4 ( agency)12.4 ( businesses)12.4 ( to)12.5 ( the)12.5 ( group)18 ( )]TJ 0.059 Tc 0 -1.231 Td [(members)12.9 (;)12.8 ( assisting)12.9 ( the)12.8 ( group)12.8 ( members)12.8 ( to)12.9 ( receive)12.8 ( and)12.9 ( pay)12.8 ( the)12.9 ( amounts)34 ( )]TJ 0.065 Tc 0 -1.231 Td [(from)12.7 ( transactions)12.7 (;)12.6 ( handling)12.6 ( the)12.7 ( entrusted)12.7 ( loans)12.6 ( between)12.6 ( or)12.7 ( among)12.6 ( the)40 ( )]TJ 0.059 Tc 0 -1.231 Td [(group)12.8 ( members)12.9 (;)12.8 ( acceptance)12.9 ( and)12.8 ( discount)12.8 ( of)12.8 ( negotiable)12.8 ( instruments)12.8 ( for)34 ( )]TJ 0.058 Tc 0 -1.231 Td [(the)12.3 ( group)12.3 ( members)12.3 (;)12.2 ( handling)12.2 ( settlement)12.3 ( by)12.3 ( transfer)12.2 ( between)12.3 ( the)12.3 ( group)33 ( )]TJ 0.054 Tc 0 -1.231 Td [(members)12.4 ( accounts)12.3 ( and)12.4 ( design)12.4 ( of)12.4 ( settlement)12.4 ( and)12.4 ( clearance)12.4 ( plans)12.4 (;)12.3 ( taking)29 ( )]TJ 0.036 Tc 0.072 Tw 0 -1.231 Td [(deposit)11 ( )0.5 (from)11 ( )0.5 (the)11 ( )0.5 (group)11.1 ( members)11 (;)11 ( )0.5 (granting)11 ( )0.5 (loans)11 ( )0.5 (and)11 ( )0.5 (financial)11 ( )0.5 (lease)11 ( )0.5 (to)11 ( )0.5 (the)11 ( )]TJ 0.025 Tc 0.082 Tw 0 -1.231 Td (group members; interbank lending; handling entrusted investments between\ )Tj 0.036 Tc 0.072 Tw 0 -1.231 Td [(the)11.1 ( )0.5 (group)11 ( )0.5 (members)11 (,)11 ( )0.5 (underwriting)11 ( )0.5 (the)11.1 ( )0.5 (corporate)11.1 ( bonds)11 ( )0.5 (for)11 ( )0.5 (group)10.9 ( )0.6 (members)11 (;)11 ( )]TJ 0.03 Tc 0.078 Tw 0 -1.231 Td [(investment)5 ( )0.5 (in)5 ( securities)5 ( )0.5 (\()5.1 (excluding)5 ( )0.5 (investment)5 ( )0.5 (in)5 ( )0.5 (secondary)5 ( )0.5 (stock)5 ( )0.5 (market)5 (\))5 (;)5 ( )]TJ 0.042 Tc 0.07 Tw 0 -1.231 Td [(equity)12.5 ( investments)12.5 ( in)12.5 ( financial)12.5 ( institutions)12.5 (\))12.5 (.)12.6 ( Its)12.5 ( shareholders)12.5 ( are)12.6 (:)12.5 ( Jiangsu)17 ( )]TJ 0.049 Tc 0 -1.231 Td [(Communications)12.6 ( Holding)12.7 ( \()12.7 (6)12.6 (8)12.6 (.)12.7 (7)12.6 (5)12.6 (%)12.7 (\))12.6 ( \()12.7 (the)12.6 ( ultimate)12.6 ( beneficial)12.7 ( owner)12.6 ( is)12.6 ( the)24 ( )]TJ 0.054 Tc 0 -1.231 Td [(State)12.3 (-)12.3 (owned)12.3 ( Assets)12.2 ( Supervision)12.2 ( and)12.3 ( Administration)12.2 ( Commission)12.3 ( of)12.3 ( the)29.1 ( )]TJ 0.056 Tc 0 -1.231 Td [(Jiangsu)12.9 ( Provincial)12.9 ( People)12.9 (\222)12.9 (s)12.9 ( Government)12.8 (\))12.9 (,)12.9 ( the)12.9 ( Company)12.9 ( \()12.9 (2)12.9 (5)12.9 (%)12.9 (\))12.9 (,)12.9 ( Jiangsu)31 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td [(Jinghu Expressway Co., Ltd. )250.5 (\(6.25%\)*.)]TJ 0.075 Tc 0.07 Tw 11 0 0 11 113.3858 490.3179 Tm [(*)50 ( )-1657 (The)12.5 ( ultimate)12.6 ( beneficial)12.5 ( owners)12.5 ( are)12.6 ( the)12.6 ( State)12.5 (-)12.6 (owned)12.6 ( Assets)12.6 ( Supervision)12.5 ( and)50 ( )]TJ 0.065 Tc 2.577 -1.273 Td [(Administration)12.1 ( Commission)12.1 ( of)12.1 ( the)12.1 ( People)12.2 (\222)12.1 (s)12.1 ( Government)12.1 ( of)12.1 ( Jiangsu)12.1 ( Province)40 ( )]TJ 0.025 Tc 0.083 Tw 0 -1.273 Td [(\(55.27%\), J)-4.7 (i)-4.8 (a)-4.8 (n)-4.8 (g)-4.8 (s)-4.8 (u )0.5 (Y)-4.8 (u)-4.8 (e)-4.8 (d)-4.8 (a )0.5 (I)-4.8 (n)-4.8 (v)-4.8 (e)-4.8 (s)-4.8 (t)-4.8 (m)-4.8 (e)-4.8 (n)-4.8 (t )0.5 (C)-4.8 (o., )0.5 (L)-4.8 (t)-4.8 (d. )0.5 (\(21%, )0.5 (l)-4.8 (i)-4.8 (s)-4.8 (t)-4.8 (e)-4.8 (d )0.5 (c)-4.8 (o)-4.8 (m)-4.8 (p)-4.8 (a)-4.8 (n)-4.8 (y: )0.5 (600805.S)-4.8 (H\), )]TJ 0.053 Tc 0.07 Tw 0 -1.273 Td [(Yangzhou)12.4 ( Huajin)12.4 ( Transportation)12.4 ( Construction)12.4 ( Co)12.4 (.)12.4 (,)12.5 ( Ltd)12.4 (.)12.4 ( \()12.5 (1)12.4 (1)12.4 (.)12.5 (7)12.4 (7)12.4 (%)12.4 (\))12.5 ( \()12.4 (the)12.4 ( ultimate)28 ( )]TJ 0.075 Tc 0 -1.273 Td [(beneficial)12.2 ( owner)12.2 ( is)12.2 ( the)12.2 ( State)12.2 (-)12.2 (owned)12.1 ( Assets)12.2 ( Supervision)12.2 ( and)12.1 ( Administration)50 ( )]TJ 0.099 Tc 0 -1.273 Td [(Commission)12.7 ( of)12.7 ( the)12.7 ( Yangzhou)12.8 ( Municipal)12.7 ( People)12.7 (\222)12.8 (s)12.7 ( Government)12.8 (\))12.7 (,)12.7 ( Huai)12.7 (\222)12.7 (an)74 ( )]TJ 0.036 Tc 0.072 Tw 0 -1.273 Td [(Transportation)11 ( )0.5 (Holding)11 ( )0.5 (Group)11 ( )0.5 (Co)11 (.)11 (,)11 ( )0.5 (Ltd)11 (.)11 ( )0.5 (\()11 (5)11 (.)11 (5)11 (4)11 (%)11 (\))11 ( )0.5 (\()11 (the)11 ( )0.5 (ultimate)11 ( )0.5 (beneficial)11 ( )0.5 (owner)11 ( )0.5 (is)11 ( )]TJ 0.047 Tc 0.07 Tw 0 -1.273 Td [(the)13 ( St)0.5 (ate)12.9 (-)13 (owne)0.5 (d)12.9 ( A)0.5 (sse)0.5 (ts)12.9 ( S)0.5 (uper)0.5 (visi)0.5 (on)12.9 ( a)0.5 (nd)12.9 ( A)0.5 (dmin)0.5 (istr)0.5 (ati)0.5 (on)12.9 ( Co)0.5 (mmis)0.5 (sion)13 ( of)12.9 ( )0.5 (Hua)0.5 (i)12.9 (\222)12.9 (an)22 ( )]TJ 0.04 Tc 0 -1.273 Td [(Municipal)12.4 ( People)12.5 (\222)12.5 (s)12.5 ( Government)12.4 (\))12.5 (,)12.5 ( no)12.5 ( other)12.5 ( person)12.5 ( having)12.5 ( more)12.4 ( than)12.5 ( 5)12.4 (%)12.5 ( interests)15 ( )]TJ 0.025 Tc 0 Tw 0 -1.273 Td (based on public records.)Tj 0.054 Tc 0.07 Tw 13 0 3.4833 13 112.0517 332.3179 Tm [(Information)12.4 ( on)12.5 ( counterparties)12.5 ( of)12.5 ( continued)12.5 ( connected)12.5 ( transactions)12.5 ( with)29 ( )]TJ 0.025 Tc 0 Tw 0.33 -1.231 Td (tenure more than 3 years:)Tj 0.064 Tc 0.07 Tw 13 0 0 13 113.3858 284.3179 Tm [(J)0.5 (i)0.5 (a)0.5 (n)0.5 (g)0.5 (s)0.5 (u)13 ( )0.5 (E)0.5 (a)0.5 (s)0.5 (t)0.5 (e)0.5 (r)0.5 (n)13 ( )0.5 (E)0.5 (x)0.5 (pr)0.5 (e)0.5 (s)0.5 (s)0.5 (w)0.5 (a)0.6 (y)12.9 ( )0.5 (M)0.5 (a)0.6 (na)0.6 (ge)0.5 (m)0.5 (e)0.5 (n)0.5 (t)13 ( )0.5 (C)0.5 (o)13 (.)13 (,)13 ( )0.5 (L)0.5 (t)0.5 (d)13 (.)13 ( )0.5 (i)0.5 (s)13 ( )0.5 (a)13 ( )0.5 (w)0.5 (h)0.5 (ol)0.5 (l)0.5 (y)13 (-)13 (o)0.5 (w)0.5 (n)0.5 (e)0.5 (d)39 ( )]TJ 0.03 Tc 0.078 Tw 0 -1.231 Td [(subsidiary)5 ( )0.5 (of)5 ( )0.5 (Jiangsu)5 ( )0.5 (Communications)5 ( )0.5 (Holdings)5 ( )0.5 (\()5 (the)5 ( )0.5 (ultimate)5.1 ( )0.5 (owner)5 ( )0.5 (is)5 ( )0.5 (the)5 ( )]TJ 0.054 Tc 0.07 Tw 0 -1.231 Td [(State)12.3 (-)12.3 (owned)12.3 ( Assets)12.2 ( Supervision)12.2 ( and)12.3 ( Administration)12.2 ( Commission)12.3 ( of)12.3 ( the)29.1 ( )]TJ 0.028 Tc 0.08 Tw 0 -1.231 Td [(People)3 (\222)3 (s)3 ( )0.5 (Government)3 ( )0.5 (of)3 ( )0.5 (Jiangsu)3 ( )0.5 (Province)3 (\))3 (.)3 ( )0.5 (It)3 ( )0.5 (is)3 ( )0.5 (mainly)3 ( )0.5 (responsible)3.1 ( )0.5 (for)2.9 ( )0.6 (the)3.1 ( )]TJ 0.025 Tc 0.03 Tw 0 -1.231 Td (operation and management of the Shenyang-Haikou Expressway \(G15\) from \ )Tj 0.045 Tc 0.07 Tw 0 -1.231 Td [(th)0.5 (e)12.9 ( Su)0.5 (lu)12.9 ( P)0.5 (rovi)0.5 (ncia)0.5 (l)12.9 ( B)0.5 (orde)0.5 (r)12.9 ( t)0.5 (o)12.9 ( th)0.5 (e)12.9 ( N)0.5 (orth)13 ( Hub)13 ( of)13 ( Na)0.5 (nton)0.5 (g)12.9 ( a)0.5 (nd)12.9 ( t)0.5 (he)12.9 ( J)0.5 (ian)0.5 (gsu)20 ( )]TJ 0.026 Tc 0.082 Tw 0 -1.231 Td [(Section)1 ( )0.5 (of)1 ( )0.5 (the)1 ( )0.5 (Linwu)0.9 (-)1.1 (Lianzhou)1 ( )0.5 (Expressway)1 (,)1 ( )0.5 (with)1.1 ( )0.5 (an)1 ( )0.5 (aggregate)1 ( )0.5 (4)1 (5)1 (5)1 ( )0.5 (k)1 (.)1 (m)1 (.)1 ( )0.5 (of)1 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.231 Td (expressways.)Tj 0.066 Tc 0.07 Tw 0 -2.462 Td [(Jiangsu)12.8 ( Lianxu)12.9 ( Expressway)12.9 ( Co)12.8 (.)12.9 (,)12.9 ( Ltd)12.9 (.)12.9 ( is)12.8 ( responsible)12.9 ( for)12.8 ( operation)12.8 ( and)41 ( )]TJ 0.025 Tc 0.03 Tw 0 -1.231 Td (management of Jiangsu sections of Lianyungang-Horgos Expressway \(G30\),\ )Tj 0.058 Tc 0.07 Tw 0 -1.231 Td [(Beijing)12.8 (-)12.7 (Taipei)12.7 ( Expressway)12.8 ( \()12.7 (G)12.8 (3)12.7 (\))12.7 (,)12.7 ( Huaian)12.7 (-)12.7 (Xuzhou)12.7 ( Expressway)12.7 ( \()12.8 (G)12.7 (2)12.7 (5)12.7 (1)12.8 (3)12.7 (\))12.7 (,)33 ( )]TJ 0.025 Tc 0.061 Tw 0 -1.231 Td [(Jinan-Xuzhou )0.5 (Expressway \(S69\) )0.5 (with an )0.5 (aggregate )0.5 (410 km )0.5 (of )0.5 (expressways. )]TJ 0.024 Tc 0 Tw 0 -1.231 Td [(Its shareholders are Jiangsu Communications Holding \(92.33%\) \(the ult\ imate)-1 ( )]TJ 0.026 Tc 0.082 Tw 0 -1.231 Td [(b)0.5 (e)0.5 (ne)0.5 (f)0.5 (i)0.5 (ci)0.5 (a)0.5 (l)1 ( )0.5 (ow)0.5 (n)0.5 (e)0.5 (r)1 ( )0.5 (i)0.5 (s)1 ( )0.5 (th)0.5 (e)1 ( )0.5 (S)0.5 (t)0.5 (at)0.5 (e)1 (-)1 (o)0.5 (w)0.5 (n)0.5 (ed)1 ( )0.5 (A)0.5 (s)0.5 (s)0.5 (e)0.5 (ts)1 ( )0.5 (S)0.5 (u)0.5 (pe)0.5 (r)0.5 (v)0.5 (is)0.5 (i)0.5 (o)0.5 (n)0.9 ( )0.6 (an)0.5 (d)1 ( )0.5 (A)0.5 (d)0.5 (mi)0.5 (n)0.5 (is)0.5 (t)0.5 (ra)0.5 (t)0.5 (i)0.5 (on)1 ( )]TJ ET endstream endobj 86 0 obj <>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 42 \226)Tj ET q 0 Tc 0 g /GS1 gs 0 TL/Fm0 Do Q BT /T1_1 1 Tf 13 0 3.4833 13 112.0517 776.409 Tm (Information on counterparties of continued connected transactions)Tj /T1_0 1 Tf 0.022 Tw 0.66 -2.462 Td [(Information )0.5 (on )0.5 (counterparties )0.5 (of )0.6 (continued )0.6 (connected )0.5 (transactions )0.5 (subject )0.5 (to )]TJ 0 Tw 0.33 -1.231 Td (disclosure requirements:)Tj 0.007 Tw 13 0 0 13 113.3858 696.409 Tm [(Kuailu )0.5 (Company\222s )0.5 (main )0.5 (business is )0.5 (road transportation. )0.5 (Its shareholders )0.5 (are: )]TJ 0.049 Tc 0.07 Tw 0 -1.231 Td [(the)12.6 ( Company)12.6 ( \()12.6 (3)12.6 (2)12.6 (.)12.6 (1)12.6 (5)12.6 (7)12.6 (5)12.6 (%)12.6 (\))12.7 (,)12.5 ( Jiangsu)12.6 ( Communications)12.6 ( Holding)12.6 ( \()12.6 (1)12.6 (8)12.6 (.)12.6 (1)12.6 (4)12.6 (5)12.6 (5)12.6 (%)12.6 (\))24 ( )]TJ 0.042 Tc 0 -1.231 Td [(\()12.5 (the)12.6 ( ultimate)12.5 ( beneficial)12.5 ( owner)12.5 ( is)12.5 ( the)12.5 ( State)12.5 (-)12.5 (owned)12.5 ( Assets)12.5 ( Supervision)12.5 ( and)17 ( )]TJ 0.023 Tc 0 Tw 0 -1.231 Td [(Administration Commission of the Jiangsu Provincial People\222s Governme\ nt\),)-2 ( )]TJ 0.045 Tc 0.07 Tw 0 -1.231 Td [(Jiangsu)12.5 ( Nanjing)12.4 ( Long)12.5 (-)12.4 (distance)12.5 ( Bus)12.4 ( Passenger)12.5 ( Transport)12.5 ( Group)12.5 ( Co)12.5 (.)12.4 (,)12.5 ( Ltd)12.5 (.)]TJ 0.059 Tc -0.059 Tw 0 -1.231 Td [(\()0.5 (1)0.5 (3)0.5 (.6)0.5 (3)0.5 (6)0.5 (4)0.5 (%)0.5 (\))]TJ 0 Tc 0 Tw 7.579 0 0 7.579 182.7304 621.609 Tm (1)Tj 0.071 Tc 0.07 Tw 13 0 0 13 186.9635 616.409 Tm [(,)12.5 ( Suzhou)12.4 ( Automobile)12.5 ( Group)12.5 ( Co)12.5 (.)12.4 (,)12.5 ( Ltd)12.4 (.)12.5 ( \()12.5 (1)12.5 (0)12.4 (.)12.5 (6)12.5 (0)12.5 (6)12.4 (1)12.5 (%)12.5 (\))]TJ 0 Tc 0 Tw 7.579 0 0 7.579 493.5999 621.609 Tm (2)Tj 0.071 Tc 0.07 Tw 13 0 0 13 497.8329 616.409 Tm [(,)12.5 ( Wuxi)46 ( )]TJ 0.082 Tc -29.573 -1.231 Td [(P)0.5 (a)0.5 (ss)0.5 (e)0.5 (n)0.5 (g)0.5 (e)0.5 (r)13 ( T)0.5 (r)0.5 (a)0.5 (n)0.5 (s)0.5 (p)0.5 (or)0.5 (t)13 ( )0.5 (G)0.5 (r)0.5 (ou)0.5 (p)13 ( )0.5 (Co)13 (.)13 (,)13 ( )0.5 (L)0.5 (td)13 (.)13 ( )0.5 (\()13 (1)12.9 (0)13 (.)13 (6)13 (0)12.9 (6)13 (1)13 (%)13 (\))]TJ 0 Tc 0 Tw 7.579 0 0 7.579 420.4707 605.609 Tm (3)Tj 0.082 Tc 0.07 Tw 13 0 0 13 424.7833 600.409 Tm [(,)13 ( )0.5 (C)0.5 (ha)0.5 (n)0.5 (g)0.5 (z)0.5 (ho)0.5 (u)13 ( )0.5 (Ro)0.5 (a)0.5 (d)57 ( )]TJ 0.051 Tc -23.954 -1.231 Td [(Transportation)12.4 ( Group)12.4 ( Co)12.4 (.)12.3 (,)12.4 ( Ltd)12.4 (.)12.3 ( \()12.4 (7)12.3 (.)12.4 (5)12.4 (7)12.3 (5)12.4 (7)12.3 (%)12.4 (\))]TJ 0 Tc 0 Tw 7.579 0 0 7.579 361.9883 589.609 Tm (4)Tj 0.051 Tc 0.07 Tw 13 0 0 13 366.0706 584.409 Tm [(,)12.3 ( Jiangsu)12.4 ( Zhenjiang)12.3 ( Jiangtian)26 ( )]TJ 0.025 Tc 0 Tw -19.437 -1.231 Td (Automobile Transportation Group Co., Ltd. \(7.2727%\))Tj 0 Tc 7.579 0 0 7.579 416.2968 573.609 Tm (5)Tj 13 0 0 13 420.2758 568.409 Tm (.)Tj 0.025 Tc -0.025 Tw 11 0 2.9474 11 112.2569 538.4089 Tm (Notes:)Tj 0.066 Tc 0.07 Tw 11 0 0 11 113.3858 510.4089 Tm [(1)41 (:)41 ( )-1363 (The)12.2 ( ultimate)12.3 ( beneficial)12.2 ( owners)12.2 ( are)12.2 ( Nanjing)12.2 ( State)12.2 (-)12.2 (owned)12.2 ( Assets)12.2 ( Management)41 ( )]TJ 0.025 Tc 0.055 Tw 2.577 -1.273 Td (Committee \(35.00%\), Tian Jiren \(10.7%\), Zhang Laishun \(3.5%\), Shan\ ghai Jinjiang )Tj 0.047 Tw 0 -1.273 Td [(Online )0.5 (Network )0.6 (Service )0.5 (Co., )0.5 (Ltd. )0.5 (\(27%, )0.5 (listed )0.6 (company: )0.6 (600650.SH\). )0.6 (According )0.5 (to )]TJ 0 Tw 0 -1.273 Td (public information, no one else owns more than 3%.)Tj 0.023 Tc -2.577 -2.545 Td [(2)-2 (:)-2 ( )-1476 (The ultimate beneficial owners are: the trade union committee of Suzhou \ Automobile)-2 ( )]TJ 0.025 Tc 2.577 -1.273 Td (Group Co., Ltd. \(78.89%\), and Suzhou SASAC \(21.11%\).)Tj 0.035 Tc 0.073 Tw -2.577 -2.545 Td [(3)10 (:)10 ( )-1390.9 (The)10 ( )0.5 (ultimate)10.1 ( )0.5 (beneficial)10 ( )0.5 (owners)10 ( )0.5 (are)10 (:)10 ( )0.5 (Wuxi)10 ( )0.5 (Municipal)10 ( )0.5 (People)10 (\222)10.1 (s)10 ( )0.5 (Government)10 ( )0.5 (\()10 (9)10 (5)10 (%)10 (\))10 (,)10 ( )]TJ 0.025 Tc 0 Tw 2.577 -1.273 Td (Wuxi Radio and Television Group \(5%\).)Tj 0.046 Tc 0.07 Tw -2.577 -2.545 Td [(4)21 (:)21 ( )-1382.9 (The)12.9 ( ultimate)12.8 ( beneficial)12.8 ( owners)12.8 ( are)12.8 (:)12.7 ( 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Td (The rooftop area of the )Tj 0.934 -1.231 Td (main building and )Tj 0 -1.231 Td (parking lots of Xinyi )Tj 0 -1.231 Td (service area of Jiangsu )Tj 0 -1.231 Td (Hetai Expressway with )Tj 0 -1.231 Td (an aggregate area of )Tj 0 -1.231 Td (7,766 sq.m. \(rental )Tj 0 -1.231 Td (settlement to be based )Tj 0 -1.231 Td (on area in actual use\))Tj 10.902 9.846 Td (The lease term is 20 years, )Tj 0.934 -1.231 Td (from the date when )Tj 0 -1.231 Td (the power station is )Tj 0 -1.231 Td (completed and put into )Tj 0 -1.231 Td (operation. 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The )Tj 0 -1.231 Td (power station was fully )Tj 0 -1.231 Td (connected to the grid and )Tj 0 -1.231 Td (put into operation on 22 )Tj 0 -1.231 Td (March 2018.)Tj -0.025 Tw 11.525 9.846 Td (RMB3/sq.m.)Tj 0 Tc 0 Tw 9.1 0 0 13 488.6736 610.8479 Tm ( )Tj 0.025 Tc -0.025 Tw 9.1 0 0 13 439.3701 594.8479 Tm (\(RMB8,349\))Tj 0 Tc 0 Tw 5.3053 0 0 7.579 488.4096 600.0479 Tm (#)Tj 0.025 Tc 9.1 0 0 13 113.3858 450.8479 Tm (Jiangsu Ningsuxu )Tj 0.934 -1.231 Td (Expressway Co., Ltd.)Tj 10.591 1.231 Td (The rooftop of buildings )Tj 0.934 -1.231 Td (in 7 service areas and )Tj 0 -1.231 Td (21 toll stations)Tj 0 Tc 5.3053 0 0 7.579 284.0103 424.0479 Tm (5)Tj 0.025 Tc 9.1 0 0 13 286.7956 418.8479 Tm ( along )Tj -6.596 -1.231 Td (Jiangsu Ningsuxu )Tj 0 -1.231 Td (Expressway with an )Tj 0 -1.231 Td (aggregate area of )Tj 0 -1.231 Td (39,380 sq. m. \(rental )Tj 0 -1.231 Td (settlement to be based )Tj 0 -1.231 Td (on area in actual use\))Tj 10.902 9.846 Td (The lease term is 20 years, )Tj 0.934 -1.231 Td (from the date when )Tj 0 -1.231 Td (the power station is )Tj 0 -1.231 Td (completed and put into )Tj 0 -1.231 Td (operation. Both parties )Tj 0 -1.231 Td (shall renew the contract )Tj 0 -1.231 Td (for another 5 years )Tj 0 -1.231 Td (according to the original )Tj 0 -1.231 Td (terms upon expiry. )Tj 0 -1.231 Td (The power station was )Tj 0 -1.231 Td (put into operation and )Tj 0 -1.231 Td (connected to the grid on )Tj 0 -1.231 Td (29 June 2018.)Tj 11.525 14.769 Td (RMB3/sq. m.)Tj 0 Tc 9.1 0 0 13 491.1761 450.8479 Tm ( )Tj 0.025 Tc -0.025 Tw 9.1 0 0 13 439.3701 434.8479 Tm (\(RMB118,140\))Tj 0 Tc 0 Tw 5.3053 0 0 7.579 497.9646 440.0479 Tm (*)Tj 0.025 Tc 11 0 0 11 113.3858 230.4989 Tm [(* )-1777 (Annual rental shall be payable before 30 June of the year.)]TJ 0 Tc 6.413 0 0 6.413 113.3858 206.8988 Tm (#)Tj 0.025 Tc 11 0 0 11 116.7526 202.4989 Tm [( )-1995.9 (Annual rental shall be payable before the end of the year.)]TJ ET endstream endobj 93 0 obj <>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 39 \226)Tj ET q 0 Tc 0 g /GS1 gs 0 TL/Fm0 Do Q BT 9.1 0 0 13 113.3858 770.8479 Tm (Jiangsu Lianxu )Tj 0.934 -1.231 Td (Expressway Co., Ltd)Tj 10.591 1.231 Td (The rooftop of buildings )Tj 0.934 -1.231 Td (in 9 service areas)Tj 0 Tc 5.3053 0 0 7.579 293.7828 760.0479 Tm (3)Tj 9.1 0 0 13 296.5681 754.8479 Tm ( )Tj 0.025 Tc -7.67 -1.231 Td (along Jiangsu Lianxu )Tj 0 -1.231 Td (Expressway with an )Tj 0 -1.231 Td (aggregate area of )Tj 0 -1.231 Td (20,470 sq. m. \(rental )Tj 0 -1.231 Td (settlement to be based )Tj 0 -1.231 Td (on area in actual use\). )Tj 0 -1.231 Td (The power station was )Tj 0 -1.231 Td (put into operation and )Tj 0 -1.231 Td (connected to the grid on )Tj 0 -1.231 Td (25 April 2018.)Tj 10.902 13.538 Td (The lease term is 20 years, )Tj 0.934 -1.231 Td (from the date when )Tj 0 -1.231 Td (the power station is )Tj 0 -1.231 Td (completed and put into )Tj 0 -1.231 Td (operation. Both parties )Tj 0 -1.231 Td (to renew the contract )Tj 0 -1.231 Td (for another five years )Tj 0 -1.231 Td (according to the original )Tj -0.025 Tw 0 -1.231 Td (terms.)Tj 11.525 9.846 Td (RMB3/sq.m.)Tj 0 Tc 0 Tw 9.1 0 0 13 488.6736 770.8479 Tm ( )Tj 0.025 Tc -0.025 Tw 9.1 0 0 13 439.3701 754.8479 Tm (\(RMB61,410\)*)Tj 0.021 Tc 0 Tw -24.297 -14.769 Td [(The)0.5 ( rooftop o)0.5 (f the X)0.5 (uzhou)-4 ( )]TJ 0.025 Tc 0.934 -1.231 Td (Ring Monitoring Centre )Tj 0 -1.231 Td (of Jiangsu Lianxu )Tj 0 -1.231 Td (Expressway with an )Tj 0 -1.231 Td (aggregate area of 3,500 )Tj -0.025 Tw 0 -1.231 Td (sq.m.)Tj 0 Tw 10.902 6.154 Td (11 April 2016 to )Tj 0 Tc 9.1 0 0 13 392.5414 562.8479 Tm ( )Tj 0.025 Tc 9.1 0 0 13 334.4882 546.8479 Tm (10 April 2036)Tj -0.025 Tw 11.525 1.231 Td (RMB3/sq.m.)Tj 0 Tc 0 Tw 9.1 0 0 13 488.6736 562.8479 Tm ( )Tj 0.025 Tc -0.025 Tw 9.1 0 0 13 439.3701 546.8479 Tm (\(RMB10,500\))Tj 0 Tc 0 Tw 5.3053 0 0 7.579 493.1871 552.0479 Tm (#)Tj 0.025 Tc 9.1 0 0 13 218.2677 450.8479 Tm (The rooftop of Jianjule )Tj 0.934 -1.231 Td (Commercial Plaza, )Tj 0 -1.231 Td (West of the East Third )Tj 0 -1.231 Td (West Ring of Jiangsu )Tj 0 -1.231 Td (Lianxu Expressway )Tj 0 -1.231 Td (at Yunlong, Xuzhou, )Tj 0 -1.231 Td (Jiangsu with an )Tj 0 -1.231 Td (aggregate area of 7,000 )Tj 0 -1.231 Td (sq. m.)Tj 10.902 9.846 Td (16 February 2016 to )Tj 0 Tc 9.1 0 0 13 406.8646 450.8479 Tm ( )Tj 0.025 Tc 9.1 0 0 13 334.4882 434.8479 Tm (15 February 2036)Tj -0.025 Tw 11.525 1.231 Td (RMB3/sq.m.)Tj 0 -1.231 Td (\(RMB21,000\))Tj 0 Tc 0 Tw 5.3053 0 0 7.579 493.1871 440.0479 Tm (#)Tj 0.025 Tc 9.1 0 0 13 113.3858 290.8479 Tm (Jiangsu Suhuaiyan )Tj -0.025 Tw 0.934 -1.231 Td (Expressway )Tj 0 Tw 0 -1.231 Td (Management Co., Ltd)Tj 10.591 2.462 Td (The rooftop of buildings )Tj 0.934 -1.231 Td (in 6 service areas)Tj 0 Tc 5.3053 0 0 7.579 293.7828 280.0479 Tm (4)Tj 0.025 Tc 9.1 0 0 13 296.5681 274.8479 Tm ( along )Tj -7.67 -1.231 Td (Jiangsu Suhuaiyan )Tj 0 -1.231 Td (Expressway and the )Tj 0 -1.231 Td (headquarter of Jiangsu )Tj 0 -1.231 Td (Suhuaiyan Expressway )Tj 0 -1.231 Td (Management Co., Ltd. )Tj 0 -1.231 Td (with an aggregate area )Tj 0 -1.231 Td (of 12,767 sq. m. \(rental )Tj 0 -1.231 Td (settlement to be based )Tj 0 -1.231 Td (on area in actual use\).)Tj 10.902 12.308 Td (The lease term is 20 years, )Tj 0.934 -1.231 Td (from the date when )Tj 0 -1.231 Td (the power station is )Tj 0 -1.231 Td (completed and put into )Tj 0 -1.231 Td (operation. Both parties )Tj 0 -1.231 Td (to renew the contract )Tj 0 -1.231 Td (for another five years )Tj 0 -1.231 Td (according to the original )Tj 0 -1.231 Td (terms. The power station )Tj 0 -1.231 Td (was put into operation )Tj 0 -1.231 Td (and connected to the grid )Tj 0 -1.231 Td (on 9 May 2018.)Tj -0.025 Tw 11.525 13.538 Td (RMB3/sq.m.)Tj 0 Tc 0 Tw 9.1 0 0 13 488.6736 290.8479 Tm ( )Tj 0.025 Tc -0.025 Tw 9.1 0 0 13 439.3701 274.8479 Tm (\(RMB38,301\)*)Tj ET endstream endobj 92 0 obj <>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 38 \226)Tj ET q 0 Tc 0 g /GS1 gs 0 TL/Fm0 Do Q BT 0.051 Tc 0.07 Tw 13 0 0 13 113.3858 776.3179 Tm [(to)12.7 ( the)12.8 ( announcement)12.7 ( requirement)12.7 ( under)12.7 ( Rule)12.8 ( 1)12.7 (4)12.7 (A)12.7 (.)12.7 (7)12.7 (6)12.7 (\()12.7 (2)12.7 (\))12.8 ( \()12.7 (a)12.7 (\))12.7 ( of)12.7 ( the)12.7 ( Hong)26 ( )]TJ 0 -1.231 Td [(Kong)12.8 ( Listing)12.7 ( Rules)12.7 (,)12.7 ( but)12.7 ( is)12.7 ( exempt)12.8 ( from)12.7 ( the)12.7 ( requirement)12.7 ( of)12.7 ( independent)26 ( )]TJ 0.046 Tc 0 -1.231 Td [(shareholders)12.4 ( approval)12.4 ( at)12.4 ( general)12.5 ( meeting)12.5 (.)12.4 ( For)12.4 ( details)12.5 ( of)12.5 ( the)12.5 ( terms)12.4 ( of)12.4 ( the)21 ( )]TJ 0.025 Tc 0.04 Tw 0 -1.231 Td (deposit services, please refer to the announcement of the Company dated \ 28 )Tj 0 Tw 0 -1.231 Td (March 2022.)Tj /T1_1 1 Tf -2.181 -2.462 Td [(C. )-883.5 (Continuing Connected Transactions with Tenure more than 3 Years)]TJ /T1_0 1 Tf 0.058 Tw 2.181 -2.462 Td (Associates of Jiangsu Communications Holding has leased land and rooftop\ )Tj 0.047 Tc 0.07 Tw 0 -1.231 Td [(of)12.5 ( buildings)12.4 ( to)12.5 ( YS)12.5 ( Energy)12.5 ( Company)12.5 ( \()12.5 (as)12.5 ( leasee)12.5 (\))12.6 ( for)12.6 ( the)12.6 ( construction)12.5 ( and)22 ( )]TJ 0.028 Tc 0.08 Tw 0 -1.231 Td [(ope)0.5 (ratio)0.5 (n)3 ( )0.5 (of)3 ( )0.5 (photo)0.5 (voltai)0.5 (c)3 ( )0.5 (powe)0.5 (r)3 ( )0.5 (gene)0.5 (ratio)0.5 (n)3 ( )0.5 (busine)0.5 (ss)3 (.)3 ( )0.5 (The)3.1 ( )0.5 (trans)0.5 (actio)0.5 (n)3 ( )0.5 (valu)0.5 (e)3 ( )]TJ 0.025 Tc 0.049 Tw 0 -1.231 Td (of these leases in 2021 was RMB394,550. It is expected that the transact\ ion )Tj 0.062 Tc 0.07 Tw 0 -1.231 Td [(va)0.5 (lu)0.5 (e)12.9 ( )0.5 (in)13 ( th)0.5 (e)12.9 ( )0.5 (se)0.5 (c)0.5 (ond)13 ( h)0.5 (al)0.5 (f)12.9 ( )0.5 (of)12.9 ( )0.5 (2)12.9 (0)13 (2)12.9 (2)13 ( w)0.5 (ill)13 ( n)0.5 (ot)13 ( e)0.5 (xc)0.5 (ee)0.5 (d)12.9 ( )0.5 (RMB)13 (2)12.9 (0)13 (0)12.9 (,)13 (0)12.9 (0)12.9 (0)13 ( a)0.5 (nd)13 ( th)0.5 (e)37 ( )]TJ 0.025 Tc 0.051 Tw 0 -1.231 Td (annual transaction value of the remaining term of the leases will not ex\ ceed )Tj 0.043 Tc 0.07 Tw 0 -1.231 Td [(RMB)12.4 (5)12.4 (0)12.4 (0)12.4 (,)12.4 (0)12.4 (0)12.4 (0)12.4 (.)12.4 ( According)12.4 ( to)12.4 ( industry)12.4 ( practice)12.5 (,)12.4 ( the)12.4 ( term)12.4 ( of)12.4 ( the)12.4 ( agreements)18 ( )]TJ 0.047 Tc 0 -1.231 Td [(are)12.9 ( more)12.8 ( than)12.9 ( 3)12.9 ( years)12.9 (,)12.9 ( usually)12.9 ( with)12.9 ( 2)12.8 (0)12.9 ( years)12.9 ( \()12.9 (the)12.9 ( longest)12.8 ( tenancy)12.8 ( period)22 ( )]TJ 0 -1.231 Td [(pe)0.5 (rm)0.5 (is)0.5 (sb)0.5 (le)13 ( un)0.5 (de)0.5 (r)12.9 ( )0.5 (PR)0.5 (C)12.9 ( )0.5 (la)0.5 (w)12.9 (\))13 (,)12.9 ( )0.5 (and)13 ( f)0.5 (or)13 ( c)0.5 (er)0.5 (ta)0.5 (in)13 ( le)0.5 (a)0.5 (se)0.5 (s)12.9 (,)12.9 ( )0.5 (Y)0.5 (S)12.9 ( )0.5 (Ene)0.5 (rg)0.5 (y)12.9 ( )0.5 (Com)0.5 (pa)0.5 (ny)22 ( )]TJ 0.025 Tc 0.054 Tw 0 -1.231 Td (may opt for renewal for 5 years to cover the 25 years of designed operat\ ing )Tj 0 Tw 0 -1.231 Td (period, details of which is set out below.)Tj /T1_1 1 Tf 9.1 0 0 13 113.3858 456.3179 Tm (Connected person )Tj 0 Tc 9.1 0 0 13 189.5427 456.3179 Tm ( )Tj 0.025 Tc 9.1 0 0 13 113.3858 440.3179 Tm (\(as lessor\))Tj -0.025 Tw 11.525 0 Td (Subject)Tj 0 Tw 11.837 0 Td (Agreement Period)Tj 12.46 1.231 Td (Annual Rental )Tj 0 -1.231 Td (\(Maximum annual rent\))Tj /T1_0 1 Tf -35.822 -2.462 Td (Jiangsu Eastern )Tj -0.025 Tw 0.934 -1.231 Td (Expressway )Tj 0 Tw 0 -1.231 Td (Management Co., Ltd)Tj 10.591 2.462 Td (The rooftop of buildings )Tj 0.934 -1.231 Td (in 6 service areas)Tj 0 Tc 5.3053 0 0 7.579 293.7828 397.5179 Tm (1)Tj 9.1 0 0 13 296.5681 392.3179 Tm ( )Tj 0.025 Tc -7.67 -1.231 Td (along the Jiangsu )Tj 0 -1.231 Td (Yanhai Expressway )Tj 0 -1.231 Td (with an aggregate area )Tj 0 -1.231 Td (of 12,146 sq.m. \(rental )Tj 0 -1.231 Td (settlement to be based )Tj 0 -1.231 Td (on area in actual use\))Tj 10.902 8.615 Td (The lease term is 20 years, )Tj 0.934 -1.231 Td (from the date when )Tj 0 -1.231 Td (the power station is )Tj 0 -1.231 Td (completed and put into )Tj 0 -1.231 Td (operation. Both parties )Tj 0 -1.231 Td (to renew the contract )Tj 0 -1.231 Td (for another five years )Tj 0 -1.231 Td (according to the original )Tj 0 -1.231 Td (terms. The power station )Tj 0 -1.231 Td (was put into operation )Tj 0 -1.231 Td (and connected to the grid )Tj 0 -1.231 Td (on 28 December 2017.)Tj -0.025 Tw 11.525 13.538 Td (RMB3/sq.m. )Tj 0 -1.231 Td (\(RMB36,438\)*,)Tj 0 Tw 0 -2.462 Td (Rent increases by RMB1/)Tj 0.934 -1.231 Td (sq.m. every )Tj 0 Tc 9.1 0 0 13 495.0843 344.3179 Tm ( )Tj 0.025 Tc 9.1 0 0 13 447.874 328.3179 Tm (5 years thereafter. For )Tj 0 -1.231 Td (the renewed term \(i.e. )Tj 0 -1.231 Td (Year 21 to Year 25\): )Tj -0.025 Tw 0 -1.231 Td (RMB85,022*)Tj 0 Tw -25.231 -4.923 Td (A total of about 382.5 mu )Tj 0.934 -1.231 Td (of land in 4 interchange )Tj -0.025 Tw 0 -1.231 Td (areas)Tj 0 Tc 0 Tw 5.3053 0 0 7.579 246.5999 189.5179 Tm (2)Tj 0.025 Tc 9.1 0 0 13 249.3852 184.3179 Tm ( along Jiangsu )Tj -2.485 -1.231 Td (Yanhai Expressway )Tj 0 -1.231 Td (\(rental settlement to be )Tj 0 -1.231 Td (based on area in actual )Tj -0.025 Tw 0 -1.231 Td (use\))Tj 0 Tw 10.902 7.385 Td (20 years )Tj 0 Tc 9.1 0 0 13 360.8823 216.3179 Tm ( )Tj 0.025 Tc 9.1 0 0 13 334.4882 200.3179 Tm (\(25 September 2017 to )Tj 0 Tc 9.1 0 0 13 424.9234 200.3179 Tm ( )Tj 0.025 Tc 9.1 0 0 13 334.4882 184.3179 Tm (25 September 2037\).)Tj -0.025 Tw 11.525 2.462 Td (RMB300/mu)Tj 0 -1.231 Td (\(RMB114,750\)*)Tj ET endstream endobj 91 0 obj <>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 37 \226)Tj ET q 0 Tc 0 g /GS1 gs 0 TL/Fm0 Do Q BT 0.023 Tc 13 0 0 13 113.3858 776.3179 Tm [(T)0.5 (h)0.5 (e)0.5 ( s)0.5 (e)0.5 (r)0.5 (v)0.5 (ic)0.5 (e)0.5 ( )0.5 (f)0.5 (e)0.5 (e)0.5 (s)0.5 ( w)0.5 (i)0.5 (l)0.5 (l )0.5 (b)0.5 (e)0.5 ( )0.5 (p)0.5 (ai)0.5 (d)0.5 ( )0.5 (by)0.5 ( )0.5 (e)0.5 (a)0.5 (c)0.5 (h)0.5 ( o)0.5 (f)0.5 ( )0.5 (t)0.5 (he)0.5 ( )0.5 (r)0.5 (e)0.5 (le)0.5 (v)0.5 (a)0.5 (n)0.5 (t)0.5 ( T)0.5 (a)0.5 (r)0.5 (g)0.5 (e)0.5 (t)0.5 ( G)0.5 (r)0.5 (o)0.5 (u)0.5 (p )0.5 (c)0.5 (o)0.5 (m)0.5 (pa)0.5 (n)0.5 (i)0.5 (e)0.5 (s)-2 ( )]TJ 0.032 Tc 0.076 Tw 0 -1.231 Td [(with)7 ( )0.5 (their)7 ( )0.5 (own)7 ( )0.5 (funds)7 ( )0.6 (or)7 ( )0.5 (financing)7 ( )0.5 (funds)7 ( )0.5 (in)7 ( )0.5 (line)7 ( )0.5 (with)6.9 ( )0.6 (the)7 ( )0.6 (use)7.1 ( of)7 ( )0.5 (funds)7 ( )0.5 (after)7 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (receiving the relevant services.)Tj 0.028 Tc 0.08 Tw 0 -2.462 Td [(As)3 ( )0.5 (Jiangsu)3 ( )0.5 (Communications)3 ( )0.5 (Holding)3 ( )0.5 (Human)3 ( )0.5 (Resources)3 ( )0.5 (Company)3 (,)3 ( )0.5 (Limited)3.1 ( )]TJ 0.04 Tc 0.07 Tw 0 -1.231 Td [(is)12.3 ( a)12.4 ( wholly)12.3 (-)12.4 (owned)12.3 ( subsidiary)12.4 ( of)12.4 ( Jiangsu)12.4 ( Communications)12.4 ( Holding)12.4 (,)12.4 ( it)12.4 ( is)12.4 ( a)15.1 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (related party of the Company according to the Shanghai Listing Rules. Th\ ese )Tj 0.034 Tc 0.074 Tw 0 -1.231 Td [(services)9 ( )0.5 (will)9 ( )0.5 (constitute)9 ( )0.5 (the)9 ( )0.5 (Company)9 (\222)9 (s)9 ( )0.5 (ordinary)9 ( )0.5 (related)9 ( )0.5 (party)9 ( )0.5 (transactions)9 (.)9 ( )]TJ 0.046 Tc 0.07 Tw 0 -1.231 Td [(Given)12.7 ( the)12.8 ( total)12.7 ( amount)12.8 ( of)12.8 ( such)12.8 ( related)12.8 ( transactions)12.7 ( after)12.8 ( the)12.8 ( Completion)21 ( )]TJ 0.027 Tc 0.081 Tw 0 -1.231 Td [(\()2 (together)2 ( )0.5 (with)2 ( )0.5 (the)2.1 ( same)2 ( )0.5 (type)2 ( )0.5 (of)2 ( )0.5 (business)2 ( )0.5 (provided)2 ( )0.5 (to)1.9 ( )0.5 (the)2 ( )0.5 (Group)2 (\))2 ( would)2 ( )0.5 (not)2 ( )]TJ 0.025 Tc 0.042 Tw 0 -1.231 Td (reach 0.5% of the absolute value of the Company\222s latest audited net \ assets, )Tj 0.059 Tc 0.07 Tw 0 -1.231 Td [(they)12.8 ( do)12.8 ( not)12.7 ( trigger)12.8 ( and)12.8 ( are)12.8 ( exempt)12.8 ( from)12.8 ( the)12.8 ( related)12.8 ( parties)12.8 ( transaction)34 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (disclosure requirements of the Shanghai Listing Rules.)Tj 0.035 Tc 0.073 Tw 0 -2.462 Td [(As)10 ( )0.6 (Jiangs)0.5 (u)10 ( )0.5 (Comm)0.5 (unica)0.5 (tions)10 ( )0.5 (H)0.5 (oldin)0.5 (g)10 ( )0.5 (dire)0.5 (ctly)10 ( )0.5 (h)0.5 (olds)10 ( )0.5 (mo)0.5 (re)10 ( )0.5 (tha)0.5 (n)10 ( )0.5 (1)10 (0)10 (%)10 ( )0.5 (equi)0.5 (ty)10 ( )]TJ 0.063 Tc 0.07 Tw 0 -1.231 Td [(interest)12.1 ( in)12.2 ( Kuailu)12.2 ( Company)12.1 ( and)12.1 ( together)12.2 ( with)12.1 ( the)12.1 ( shares)12.1 ( held)12.1 ( through)38 ( )]TJ 0.057 Tc 0 -1.231 Td [(the)12.6 ( Company)12.6 (,)12.6 ( holds)12.6 ( more)12.6 ( than)12.6 ( 3)12.6 (0)12.6 (%)12.6 ( equity)12.6 ( interest)12.7 ( in)12.5 ( Kuailu)12.6 ( Company)32 ( )]TJ 0.038 Tc 0.083 Tw 0 -1.231 Td [(i)-12.9 (n a)-12.9 (g)-12.8 (g)-12.9 (r)-12.8 (e)-12.9 (g)-12.8 (a)-12.8 (t)-12.9 (e, p)-12.9 (u)-12.8 (r)-12.9 (s)-12.8 (u)-12.9 (a)-12.8 (n)-12.8 (t t)-12.8 (o R)-12.8 (u)-12.9 (l)-12.8 (e)-12.9 (s 14A.07\(4\), 14A.13\(3\) a)-12.8 (n)-12.8 (d 14A.14 o)-12.8 (f t)-12.9 (h)-12.8 (e)13 ( )]TJ 0.058 Tc 0.07 Tw 0 -1.231 Td [(Hong)12.2 ( Kong)12.3 ( Listing)12.3 ( Rules)12.2 (,)12.3 ( Kuailu)12.3 ( Company)12.3 ( is)12.3 ( also)12.2 ( a)12.2 ( connected)12.2 ( person)33 ( )]TJ 0.044 Tc 0 -1.231 Td [(of)13 ( the)13 ( Co)0.5 (mpa)0.5 (ny)12.9 (.)12.9 ( )0.5 (As)12.9 ( )0.5 (Jia)0.5 (ngsu)13 ( Co)0.5 (mmun)0.5 (ica)0.5 (tion)0.5 (s)12.9 ( H)0.5 (old)0.5 (ing)12.9 ( )0.5 (Hum)0.5 (an)12.9 ( R)0.5 (eso)0.5 (urc)0.5 (es)19 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (Company, Limited is a wholly-owned subsidiary of Jiangsu Communications \ )Tj 0.077 Tc 0.07 Tw 0 -1.231 Td [(Holding)12.9 (,)12.9 ( it)12.9 ( is)13 ( a)12.9 ( connected)13 ( pe)0.5 (rson)12.9 ( of)12.9 ( the)12.9 ( C)0.5 (ompany)12.9 ( pursuant)12.9 ( to)12.9 ( Rule)0.5 (s)52 ( )]TJ 0.045 Tc 0 -1.231 Td [(1)12.8 (4)12.7 (A)12.8 (.)12.7 (0)12.7 (7)12.8 (\()12.7 (4)12.8 (\))12.7 ( and)12.7 ( 1)12.7 (4)12.8 (A)12.7 (.)12.8 (1)12.7 (3)12.8 (\()12.7 (1)12.8 (\))12.7 ( of)12.8 ( the)12.8 ( Hong)12.7 ( Kong)12.8 ( Listing)12.8 ( Rules)12.8 (.)12.7 ( Such)12.8 ( services)20 ( )]TJ 0.025 Tc 0.022 Tw 0 -1.231 Td [(will )0.5 (constitute )0.5 (continuing connected )0.5 (transactions )0.5 (of the )0.5 (Company. Given )0.5 (the )]TJ 0.026 Tw 0 -1.231 Td (services are conducted on normal commercial terms or better in the ordin\ ary )Tj 0.04 Tc 0.07 Tw 0 -1.231 Td [(and)12.8 ( usual)12.8 ( course)12.9 ( of)12.8 ( business)12.8 ( of)12.8 ( the)12.8 ( Target)12.8 ( Group)12.8 ( and)12.8 ( revenue)12.8 ( percentage)14.9 ( )]TJ 0.028 Tc 0.08 Tw 0 -1.231 Td [(ratio)3 ( )0.5 (of)3 ( )0.6 (the)3 ( )0.5 (projected)3 ( )0.6 (aggregate)3 ( )0.5 (transaction)3 ( )0.5 (value)3 ( )0.5 (in)3 ( )0.5 (2)3 (0)3 (2)3 (2)3 ( )0.5 (after)3 ( )0.5 (Completion)3 ( )]TJ 0.033 Tc 0.075 Tw 0 -1.231 Td [(\()8 (t)0.5 (og)0.5 (e)0.5 (t)0.5 (he)0.5 (r)8 ( )0.5 (w)0.5 (i)0.5 (th)8 ( )0.5 (s)0.5 (i)0.5 (mi)0.5 (l)0.5 (a)0.5 (r)8 ( )0.5 (se)0.5 (r)0.5 (v)0.5 (ic)0.5 (e)0.5 (s)8 ( )0.5 (p)0.5 (ro)0.5 (v)0.5 (id)0.5 (e)0.5 (d)8 ( )0.5 (t)0.5 (o)8 ( )0.5 (th)0.5 (e)8 ( )0.5 (G)0.5 (r)0.5 (ou)0.5 (p)8 (\))8 ( )0.5 (a)0.5 (r)0.5 (e)8 ( )0.5 (m)0.5 (or)0.5 (e)8 ( )0.5 (t)0.5 (h)0.5 (an)8 ( )0.5 (0)8 (.)8 (1)8.1 (%)8 ( )]TJ 0.039 Tc 0.07 Tw 0 -1.231 Td [(but)12.6 ( less)12.7 ( than)12.6 ( 5)12.6 (%)12.6 (,)12.6 ( such)12.7 ( continuing)12.6 ( connected)12.6 ( transactions)12.6 ( are)12.7 ( only)12.6 ( subject)14 ( )]TJ 0.057 Tc 0 -1.231 Td [(to)12.3 ( the)12.3 ( announcement)12.3 ( requirement)12.3 ( but)12.3 ( are)12.3 ( exempt)12.3 ( from)12.2 ( the)12.3 ( independent)32 ( )]TJ 0.038 Tc 0 -1.231 Td [(shareholders)12.4 (\222)12.4 ( approval)12.3 ( requirement)12.3 ( under)12.4 ( Rule)12.4 ( 1)12.4 (4)12.4 (A)12.4 (.)12.3 (7)12.4 (6)12.4 (\()12.4 (2)12.3 (\))12.4 ( \()12.3 (a)12.4 (\))12.4 ( of)12.3 ( the)12.4 ( Hong)13 ( )]TJ 0.042 Tc 0 -1.231 Td [(Kong)12.4 ( Listing)12.4 ( Rules)12.4 (.)12.3 ( Such)12.3 ( transactions)12.3 ( shall)12.4 ( also)12.4 ( be)12.3 ( subject)12.4 ( to)12.4 ( the)12.4 ( annual)17 ( )]TJ 0.046 Tc 0 -1.231 Td [(review)12.7 ( requirements)12.7 ( under)12.7 ( the)12.7 ( Rule)12.8 ( 1)12.8 (4)12.7 (A)12.7 ( 5)12.7 (5)12.7 ( to)12.7 ( Rule)12.8 ( 1)12.7 (4)12.7 (A)12.8 ( 5)12.7 (9)12.8 ( of)12.8 ( the)12.8 ( Hong)21 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (Kong Listing Rules.)Tj /T1_1 1 Tf 13 0 3.4833 13 112.0517 216.3179 Tm (Deposit Services)Tj /T1_0 1 Tf 0.117 Tc 0.07 Tw 13 0 0 13 113.3858 184.3179 Tm [(As)12.2 ( at)12.2 ( the)12.3 ( date)12.2 ( of)12.2 ( this)12.2 ( announcement)12.3 (,)12.3 ( the)12.3 ( deposit)12.2 ( amount)12.3 ( of)12.2 ( YS)92 ( )]TJ 0.062 Tc 0 -1.231 Td [(Energy)12.5 ( Company)12.4 ( and)12.5 ( its)12.5 ( subsidiaries)12.4 ( is)12.5 ( RMB)12.5 (1)12.5 (3)12.4 (7)12.5 ( million)12.5 ( with)12.5 ( Jiangsu)37 ( )]TJ 0.029 Tc 0.079 Tw 0 -1.231 Td [(Communications)4 ( )0.5 (Holding)4 ( )0.5 (Group)4 ( )0.5 (Finance)4.1 ( )0.5 (Co)4 (.)4 (,)4 ( )0.5 (Ltd)4 (.)4 (,)4 ( )0.5 (a)4 ( )0.5 (subsidiary)4 ( )0.5 (of)4 ( )0.6 (Jiangsu)4 ( )]TJ 0.062 Tc 0.07 Tw 0 -1.231 Td [(Communications)12.6 ( Holding)12.6 (,)12.5 ( which)12.5 ( constitutes)12.5 ( the)12.6 ( provision)12.5 ( of)12.5 ( financial)37 ( )]TJ 0.031 Tc 0.077 Tw 0 -1.231 Td [(assistances)6 ( )0.5 (to)6 ( )0.5 (a)6.1 ( connected)6 ( )0.5 (person)6 (.)6 ( )0.5 (From)6.1 ( )0.5 (the)6 ( )0.5 (Completion)6 ( )0.5 (Date)6 (,)6 ( )0.5 (the)6 ( )0.5 (Group)6 (\222)6 (s)6 ( )]TJ 0.09 Tc 0.07 Tw 0 -1.231 Td [(deposit)12 ( service)12.1 ( quota)12.1 ( will)12.1 ( be)12.1 ( used)12 ( by)12.1 ( YS)12.1 ( Energy)12.1 ( Company)12.1 ( and)12.1 ( its)65 ( )]TJ 0.028 Tc 0.08 Tw 0 -1.231 Td [(subsidiaries)3 (.)3 ( )0.5 (As)3 ( )0.5 (the)3 ( )0.5 (applicable)3 ( )0.5 (percentage)3 ( )0.5 (ratio)3 ( )0.5 (\()3 (other)3 ( )0.6 (than)3.1 ( )0.5 (the)3 ( )0.5 (profit)3 ( )0.5 (ratio)3.1 (\))3 ( )]TJ 0.036 Tc 0.072 Tw 0 -1.231 Td [(of)11 ( )0.5 (the)11 ( )0.5 (Group)11 (\222)11 (s)11 ( )0.5 (deposit)11 ( )0.5 (limit)10.9 ( )0.6 (is)11 ( )0.5 (less)11 ( )0.5 (than)11 ( )0.5 (5)11 (%)11 (,)11 ( )0.5 (the)11 ( )0.5 (deposit)11 ( )0.5 (service)11 ( )0.5 (is)11 ( )0.6 (subject)11 ( )]TJ ET endstream endobj 90 0 obj <>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 36 \226)Tj ET q 0 Tc 0 g /GS1 gs 0 TL/Fm0 Do Q BT 0.053 Tc 0.07 Tw 13 0 0 13 141.7323 776.3179 Tm [(As)12.1 ( these)12.1 ( companies)12.1 ( are)12.1 ( owned)12.1 ( or)12.1 ( controlled)12 ( as)12.1 ( to)12.1 ( 3)12 (0)12.1 (%)12.1 ( or)12.1 ( more)12.1 ( by)28 ( )]TJ 0.041 Tc 0 -1.231 Td [(Jiangsu)12.7 ( Communications)12.7 ( Holding)12.8 (,)12.6 ( they)12.7 ( are)12.7 ( connected)12.7 ( persons)12.7 ( of)12.7 ( the)16 ( )]TJ 0.06 Tc 0 -1.231 Td [(Co)0.5 (mp)0.5 (any)13 ( p)0.5 (urs)0.5 (ua)0.5 (nt)13 ( to)13 ( R)0.5 (ule)0.5 (s)12.9 ( )0.5 (1)12.9 (4)12.9 (A)13 (.)12.9 (0)13 (7)12.9 (\()13 (4)12.9 (\))12.9 ( )0.5 (an)0.5 (d)12.9 ( )0.5 (1)12.9 (4)12.9 (A)13 (.)12.9 (1)12.9 (3)13 (\()12.9 (3)13 (\))12.9 ( o)0.5 (f)12.9 ( )0.5 (the)13 ( H)0.5 (on)0.5 (g)35 ( )]TJ 0.029 Tc 0.079 Tw 0 -1.231 Td [(Kong)4 ( )0.5 (Listing)4 ( )0.5 (Rules)4.1 (.)4 ( )0.5 (The)4 ( )0.5 (provision)4 ( )0.5 (of)4 ( )0.5 (ele)0.5 (ctr)0.5 (icity)4 ( )0.5 (services)4 ( )0.5 (to)4 ( )0.6 (the)0.5 (m)4 ( )0.5 (will)4 ( )]TJ 0.042 Tc 0.07 Tw 0 -1.231 Td [(constitute)12.2 ( continuing)12.2 ( connected)12.2 ( transactions)12.2 ( of)12.2 ( the)12.2 ( Company)12.2 (.)12.1 ( Given)17 ( )]TJ 0.037 Tc 0.071 Tw 0 -1.231 Td [(the)12 ( )0.5 (service)12 ( )0.5 (is)12 ( )0.5 (conducted)12 ( )0.5 (on)12.1 ( normal)12 ( )0.5 (commercial)12 ( )0.5 (terms)12 ( )0.5 (in)12 ( )0.5 (the)12.1 ( ordinary)12 ( )]TJ 0.045 Tc 0.07 Tw 0 -1.231 Td [(and)12.3 ( usual)12.2 ( course)12.3 ( of)12.3 ( business)12.3 ( of)12.3 ( the)12.3 ( Target)12.3 ( Group)12.3 ( and)12.3 ( all)12.2 ( applicable)20 ( )]TJ 0.031 Tc 0.077 Tw 0 -1.231 Td [(ratios)6 ( )0.5 (of)6 ( )0.5 (the)6 ( )0.5 (projected)6 ( )0.5 (aggregate)6.1 ( )0.5 (transaction)6 ( )0.5 (value)6 ( )0.5 (for)6 ( )0.5 (the)6 ( )0.5 (second)6 ( )0.5 (half)6 ( )]TJ 0 -1.231 Td [(of)6.1 ( )0.5 (2)6 (0)6 (2)6 (2)6 ( )0.5 (ar)0.5 (e)6 ( )0.5 (l)0.5 (es)0.5 (s)6 ( )0.5 (th)0.5 (an)6.1 ( 0)6.1 (.)6 (1)6 (%)6 (,)6 ( )0.5 (su)0.5 (ch)6 ( )0.5 (s)0.5 (e)0.5 (rv)0.5 (ic)0.5 (e)6 ( )0.5 (sh)0.5 (ou)0.5 (ld)6 ( )0.5 (b)0.5 (e)6 ( )0.5 (fu)0.5 (ll)0.5 (y)6 ( )0.5 (ex)0.5 (e)0.5 (mpt)6 ( )0.6 (fr)0.5 (om)6 ( )]TJ 0.062 Tc 0.07 Tw 0 -1.231 Td [(the)12.3 ( disclosure)12.2 ( and)12.2 ( independent)12.3 ( shareholders)12.2 (\222)12.3 ( approval)12.3 ( continuing)37 ( )]TJ 0.033 Tc 0.075 Tw 0 -1.231 Td [(connected)8 ( )0.5 (transaction)8.1 ( )0.5 (requirements)8 ( )0.5 (pursuant)8 ( )0.5 (to)8 ( )0.5 (Rule)8 ( )0.5 (1)8 (4)8 (A)8.1 (.)8 (7)8 (6)8 (\()8 (1)8 (\))8 ( )0.5 (\()8 (a)8 (\))8.1 ( )0.5 (of)8 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (the Hong Kong Listing Rules.)Tj /T1_1 1 Tf -4.361 -2.462 Td [(B. )-938.5 (Continuing Connected Transactions subject to Disclosure Requirement)]TJ 13 0 3.4833 13 112.0517 536.3179 Tm (Long-distance Vehicle Leasing Services)Tj /T1_0 1 Tf 0.044 Tc 0.07 Tw 13 0 0 13 113.3858 504.3179 Tm [(J)0.5 (ia)0.5 (n)0.5 (gs)0.5 (u)13 ( K)0.5 (u)0.5 (ai)0.5 (l)0.5 (u)12.9 ( )0.5 (M)0.5 (ot)0.5 (or)13 ( )0.5 (Tr)0.5 (a)0.5 (ns)0.5 (p)0.5 (or)0.5 (t)0.5 (at)0.5 (i)0.5 (on)13 ( )0.5 (Co)13 (.)12.9 (,)13 ( )0.5 (Lt)0.5 (d)13 (.)12.9 ( )0.5 (\()13 (he)0.5 (r)0.5 (ei)0.5 (n)0.5 (af)0.5 (t)0.5 (er)13 ( )0.5 (re)0.5 (f)0.5 (e)0.5 (rr)0.5 (e)0.5 (d)12.9 ( )0.5 (t)0.5 (o)12.9 ( )0.5 (a)0.5 (s)19 ( )]TJ 0 Tc 0 Tw 0 -1.231 Td (\223)Tj /T1_1 1 Tf 0.027 Tc 0.081 Tw 0.469 0 Td [(Kuailu)2.1 ( Company)]TJ /T1_0 1 Tf 7.819 0 Td [(\224)2 (\))2 ( )0.5 (provides)2 ( )0.5 (the)2 ( )0.5 (Target)2 ( )0.5 (Group)2 ( )0.5 (with)2 ( )0.5 (long)2 (-)2 (distance)2 ( )0.5 (vehicle)2 ( )]TJ 0.034 Tc 0.074 Tw -8.288 -1.231 Td [(leasing)9 ( )0.5 (services)9 (.)9 ( )0.5 (Service)9 ( )0.5 (fees)9 ( )0.5 (are)9 ( )0.5 (determined)9 ( )0.5 (through)9 ( )0.5 (market)9 ( )0.5 (price)9 ( )0.6 (inquiry)8.9 ( )]TJ 0.025 Tc 0.052 Tw 0 -1.231 Td (and comparison*. The transaction value for 2021 was RMB0.075 million. It\ )Tj 0 Tw 0 -1.231 Td (is expected that the aggregate service fees in the second half of 2022 w\ ill not )Tj 0 -1.231 Td (exceed RMB0.088 million.)Tj /T1_1 1 Tf 13 0 3.4833 13 112.0517 392.3179 Tm (Training Services)Tj /T1_0 1 Tf 0.055 Tc 0.07 Tw 13 0 0 13 113.3858 360.3179 Tm [(Jiangsu)12.6 ( Communications)12.6 ( Holding)12.6 ( Human)12.6 ( Resources)12.6 ( Company)12.6 (,)12.6 ( Limited)30 ( )]TJ 0.025 Tc 0.083 Tw 0 -1.231 Td [(provides )0.5 (training )0.5 (services to )0.5 (the )0.5 (Target )0.5 (Group. )0.5 (Service )0.5 (fees )0.5 (are )0.5 (determined )]TJ 0.044 Tc 0.07 Tw 0 -1.231 Td [(through)12.8 ( market)12.9 ( price)12.9 ( inquiry)12.9 ( and)12.8 ( comparison)12.9 (*)12.9 (.)12.8 ( The)12.9 ( transaction)12.8 ( value)12.9 ( for)19.1 ( )]TJ 0.025 Tc 0.06 Tw 0 -1.231 Td (2021 was RMB127,100. 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the pricing of the service; \(iii\) the service will be consumed or u\ sed )Tj 0.033 Tc 0.075 Tw 0 -1.231 Td [(in)8 ( )0.5 (the)8 ( )0.5 (same)8 ( )0.5 (state)8 ( )0.5 (as)8 ( )0.5 (when)8 ( )0.5 (it)8 ( )0.5 (is)8 ( )0.5 (bought)8.1 (;)8 ( )0.5 (and)8 ( )0.5 (\()8 (iv)8 (\))8 ( )0.5 (the)8 ( )0.5 (terms)8 ( )0.5 (are)8 ( )0.5 (not)8 ( )0.5 (less)8 ( )]TJ 0.043 Tc 0.07 Tw 0 -1.231 Td [(favourable)12.4 ( than)12.4 ( those)12.3 ( available)12.3 ( from)12.3 ( independent)12.3 ( third)12.4 ( parties)12.4 (,)12.3 ( such)18 ( )]TJ 0.045 Tc 0 -1.231 Td [(service)12.4 ( should)12.4 ( be)12.5 ( fully)12.4 ( exempt)12.4 ( from)12.4 ( the)12.4 ( disclosure)12.5 ( and)12.4 ( independent)20 ( )]TJ 0.032 Tc 0.076 Tw 0 -1.231 Td [(s)0.5 (h)0.6 (a)0.5 (r)0.5 (e)0.5 (h)0.6 (o)0.5 (l)0.5 (d)0.5 (e)0.6 (r)0.5 (s)7 (\222)7 ( )0.5 (a)0.5 (p)0.6 (p)0.5 (r)0.5 (o)0.5 (v)0.5 (a)0.6 (l)7 ( )0.5 (c)0.5 (o)0.5 (n)0.5 (t)0.6 (i)0.5 (n)0.5 (u)0.5 (i)0.5 (n)0.6 (g)6.9 ( )0.6 (c)0.5 (o)0.5 (n)0.5 (n)0.6 (e)0.5 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Xinyi Branch, Jiangsu Yanjiang Expressway Co., Ltd. and Jiangsu )Tj 0.043 Tc 0.07 Tw 0 -1.231 Td [(Ningsu)12.4 ( Xu)12.3 ( Expressway)12.4 ( Co)12.3 (.)12.3 (,)12.4 ( Ltd)12.3 (.)12.3 (,)12.3 ( In)12.3 ( 2)12.4 (0)12.3 (2)12.3 (1)12.3 (,)12.4 ( the)12.4 ( aggregate)12.4 ( electricity)18 ( )]TJ 0.072 Tc 0 -1.231 Td [(charges)12.3 ( amounted)12.3 ( to)12.3 ( RMB)12.3 (5)12.3 (.)12.3 (0)12.3 (2)12.3 (4)12.3 (8)12.3 ( million)12.3 (.)12.3 ( It)12.3 ( is)12.3 ( expected)12.3 ( that)12.3 ( the)47 ( )]TJ 0.025 Tc 0.026 Tw 0 -1.231 Td (aggregate electricity charges in the second half of 2022 will not exceed\ )Tj 0.053 Tc 0.07 Tw 0 -1.231 Td [(RMB)12.8 (2)12.8 (.)12.8 (8)12.9 ( million)12.8 (.)12.8 ( Electricity)12.9 ( will)12.8 ( be)12.9 ( charged)12.8 ( according)12.8 ( to)12.9 ( the)12.9 ( price)28 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (announced by the government and settled on a monthly basis after use.)Tj 0.023 Tc 0 -2.462 Td [(Given the total amount of such related transactions after the Completion\ )-2 ( )]TJ 0.025 Tc 0.048 Tw 0 -1.231 Td (\(together with the same type of business provided to the Group\) would \ )Tj 0.035 Tc 0.073 Tw 0 -1.231 Td [(not)10 ( )0.5 (reach)10 ( )0.5 (0)10 (.)10 (5)10 (%)10.1 ( )0.5 (of)10 ( )0.5 (the)10.1 ( )0.5 (absolute)10 ( )0.5 (value)10 ( )0.5 (of)10 ( )0.5 (the)10 ( )0.5 (Company)10 (\222)10 (s)10 ( )0.5 (latest)10 ( )0.5 (audited)10 ( )]TJ 0.028 Tc 0.08 Tw 0 -1.231 Td [(net)3 ( )0.5 (assets)3 (,)3 ( )0.5 (they)3 ( )0.5 (do)3 ( )0.5 (not)3 ( )0.5 (trigger)3 ( )0.5 (and)3 ( )0.5 (are)3 ( )0.5 (exempt)3 ( )0.5 (from)3 ( )0.5 (the)3 ( )0.5 (related)3 ( )0.5 (parties)3.1 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (transaction disclosure requirements of the Shanghai Listing Rules.)Tj ET endstream endobj 99 0 obj <>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 34 \226)Tj ET q 0 Tc 0 g /GS1 gs 0 TL/Fm0 Do Q BT 0.042 Tc 0.07 Tw 13 0 0 13 141.7323 776.3179 Tm [(The)12.8 ( purchase)12.8 ( of)12.8 ( electricity)12.8 ( is)12.8 ( a)12.8 ( purchase)12.8 ( of)12.8 ( services)12.8 ( from)12.9 ( connected)17 ( )]TJ 0.059 Tc 0 -1.231 Td [(person)12.3 (,)12.4 ( such)12.4 ( service)12.4 ( \()12.4 (i)12.3 (\))12.4 ( is)12.4 ( a)12.3 ( type)12.4 ( ordinary)12.3 ( supplied)12.3 ( for)12.4 ( self)12.3 (-)12.4 (use)12.4 ( or)34 ( )]TJ 0.025 Tc 0.005 Tw 0 -1.231 Td (consumption, \(ii\) is not for resale and is used in the business of Rud\ ong )Tj 0.037 Tc 0.071 Tw 0 -1.231 Td [(Company)12 (,)12 ( )0.5 (there)12.1 ( )0.5 (is)12 ( )0.5 (an)12 ( )0.5 (open)12 ( )0.5 (market)12 ( )0.5 (and)12 ( )0.5 (transparency)12.1 ( )0.5 (in)12 ( )0.5 (the)12 ( )0.6 (pricing)12 ( )0.5 (of)12 ( )]TJ 0.016 Tc 0 Tw 0 -1.231 Td [(the service; \(iii\) the service will be consumed or used in the same st\ ate as)-9 ( )]TJ 0.025 Tc 0.048 Tw 0 -1.231 Td [(when )0.5 (it )0.5 (is )0.5 (bought; )0.5 (and )0.5 (\(iv\) )0.5 (the )0.6 (terms )0.5 (are )0.5 (not )0.5 (less )0.5 (favourable )0.6 (than )0.6 (those )]TJ 0.033 Tc 0.075 Tw 0 -1.231 Td [(available)8.1 ( )0.5 (from)8 ( )0.5 (independent)8 ( )0.5 (third)8 ( )0.5 (parties)8.1 (,)8 ( )0.5 (such)8 ( )0.5 (service)8 ( )0.5 (should)8 ( )0.5 (be)8 ( )0.5 (fully)8 ( )]TJ 0.053 Tc 0.07 Tw 0 -1.231 Td [(exempt)12.8 ( from)12.7 ( the)12.8 ( disclosure)12.8 ( and)12.8 ( independent)12.8 ( shareholders)12.7 ( approval)28 ( )]TJ 0.068 Tc 0 -1.231 Td [(continuing)12.1 ( connected)12.1 ( transaction)12.1 ( requirements)12.1 ( pursuant)12 ( to)12.1 ( Rules)43 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (14A.73\(7\) and 14A.97 of the Hong Kong Listing Rules.)Tj 13 0 3.4833 13 140.3981 600.3179 Tm (Office and Parking Spaces Leasing Services)Tj 0.026 Tc 0.082 Tw 13 0 0 13 141.7323 568.3179 Tm [(Jiangsu)1 ( )0.5 (Communications)1 ( Holding)1 ( )0.5 (Commercial)1 ( )0.5 (Operation)1 ( )0.5 (Management)1 ( )]TJ 0.075 Tc 0.07 Tw 0 -1.231 Td [(Co)12.1 (.)12.1 (,)12.1 ( Ltd)12.1 (.)12.1 ( \()12.1 (hereinafter)12.1 ( referred)12.1 ( to)12.1 ( as)12.1 ( \223)]TJ /T1_1 1 Tf 17.912 0 Td [(Communications)12.1 ( Holding)50 ( )]TJ 0.04 Tc -17.912 -1.231 Td [(Commercial)12.2 ( Operation)12.2 ( Co)12.3 (.)]TJ /T1_0 1 Tf 0.028 Tc 0.082 Tw 12.693 0 Td [(\224\) l)-12.2 (e)-12.2 (a)-12.3 (s)-12.2 (e)-12.3 (s \(1\) a t)-12.3 (o)-12.2 (t)-12.3 (a)-12.2 (l o)-12.3 (f 2,304.66 s)-12.3 (q.m. o)-12.2 (f)3 ( )]TJ 0.05 Tc 0.07 Tw -12.693 -1.231 Td [(office)12.6 ( premises)12.6 ( on)12.6 ( the)12.6 ( 1)12.6 (8)12.6 (th)12.6 ( and)12.6 ( 2)12.6 (0)12.6 (th)12.6 ( floor)12.6 ( of)12.7 ( office)12.6 ( building)12.6 ( A)12.6 (2)12.6 ( of)25 ( )]TJ 0.025 Tc 0.051 Tw 0 -1.231 Td (Zijin Finance Center and 24 car parking spaces on B5 of Zijin Finance )Tj 0.062 Tc 0.07 Tw 0 -1.231 Td [(Centre)12.9 ( and)12.9 ( )0.5 (\()12.8 (2)12.9 (\))13 ( a)12.9 ( car)12.9 ( parking)12.9 ( space)12.9 ( )0.5 (on)12.9 ( B)13 (3)12.9 ( of)13 ( Zijin)12.9 ( Fi)0.5 (na)0.5 (nce)12.9 ( Centre)37 ( )]TJ 0.05 Tc 0 -1.231 Td [(to)12.3 ( YS)12.3 ( Energy)12.3 ( Company)12.3 (.)12.3 ( In)12.3 ( 2)12.3 (0)12.2 (2)12.3 (1)12.3 (,)12.3 ( the)12.3 ( annual)12.3 ( rentals)12.3 ( of)12.3 ( RMB)12.3 (2)12.3 (.)12.3 (8)12.3 (9)12.2 (4)12.3 (8)25 ( )]TJ 0.053 Tc 0 -1.231 Td [(million)12.6 ( and)12.7 ( RMB)12.7 (9)12.6 (,)12.7 (6)12.6 (0)12.7 (0)12.6 (,)12.6 ( respectively)12.7 (.)12.6 ( It)12.6 ( is)12.7 ( expected)12.6 ( that)12.7 ( the)12.7 ( rentals)28 ( )]TJ 0.044 Tc 0 -1.231 Td [(f)0.5 (or)13 ( )0.5 (th)0.5 (e)12.9 ( )0.5 (s)0.5 (ec)0.5 (o)0.5 (nd)13 ( h)0.5 (a)0.5 (lf)13 ( )0.5 (of)13 ( 2)13 (0)13 (2)12.9 (2)13 ( w)0.5 (i)0.5 (ll)13 ( n)0.5 (o)0.5 (t)12.9 ( )0.5 (e)0.5 (xc)0.5 (e)0.5 (ed)13 ( R)0.5 (M)0.5 (B)12.9 (1)13 (.)13 (9)12.9 (4)13 (7)12.9 (5)13 ( )0.5 (mi)0.5 (ll)0.5 (io)0.5 (n)12.9 ( )0.5 (a)0.5 (nd)19 ( )]TJ 0.038 Tc 0 -1.231 Td [(R)0.5 (M)0.5 (B)12.9 (4)13 (,)13 (8)12.9 (0)13 (0)13 (.)12.9 ( )0.5 (T)0.5 (h)0.5 (e)12.9 ( )0.5 (r)0.5 (e)0.5 (nt)0.5 (a)0.5 (l)0.5 (s)12.9 ( )0.5 (f)0.5 (o)0.5 (r)12.9 ( )0.5 (2)13 (0)12.9 (2)13 (3)13 ( )0.5 (wi)0.5 (l)0.5 (l)12.9 ( )0.5 (n)0.5 (ot)13 ( )0.5 (e)0.5 (x)0.5 (ce)0.5 (e)0.5 (d)13 ( R)0.5 (M)0.5 (B)13 (4)12.9 (.)13 (0)13 (1)12.9 (1)13 (7)13 ( )0.5 (mi)0.5 (l)0.5 (li)0.5 (o)0.5 (n)13 ( )]TJ 0.07 Tc 0 -1.231 Td [(and)12.3 ( RMB)12.3 (9)12.3 (,)12.3 (9)12.3 (0)12.3 (0)12.3 (,)12.2 ( the)12.3 ( rentals)12.3 ( for)12.3 ( 2)12.3 (0)12.2 (2)12.3 (4)12.3 ( will)12.3 ( not)12.3 ( exceed)12.2 ( RMB)12.3 (4)12.3 (.)12.3 (1)12.3 (2)12.3 (8)12.3 (5)45 ( )]TJ 0.025 Tc 0.002 Tw 0 -1.231 Td (million and RMB10,200 and the rental for the first half of 2025 will not\ )Tj 0 Tw 0 -1.231 Td (exceed RMB2.1227 million and RMB5,300.)Tj 13 0 3.4833 13 140.3981 344.3179 Tm (Canteen Services)Tj 0.053 Tc 0.07 Tw 13 0 0 13 141.7323 312.3179 Tm [(Communications)12.7 ( Holding)12.8 ( Commercial)12.7 ( Operation)12.8 ( Co)12.7 (.)12.7 ( also)12.7 ( provides)28 ( )]TJ 0 -1.231 Td [(YS)12.1 ( Energy)12.2 ( Company)12.1 ( canteen)12.2 ( services)12.2 (.)12.2 ( Prices)12.2 ( of)12.1 ( canteen)12.2 ( meals)12.1 ( are)28 ( )]TJ 0.08 Tc 0 -1.231 Td [(determined)12.6 ( through)12.7 ( market)12.6 ( price)12.7 ( inquiry)12.7 ( and)12.7 ( comparison)12.7 (*)12.7 (.)12.6 ( The)55 ( )]TJ 0.047 Tc 0 -1.231 Td [(transaction)12.7 ( value)12.8 ( for)12.7 ( 2)12.8 (0)12.7 (2)12.8 (1)12.8 ( was)12.8 ( RMB)12.7 (2)12.8 (8)12.8 (7)12.7 (,)12.8 (4)12.8 (0)12.7 (0)12.8 (.)12.7 ( It)12.7 ( is)12.8 ( expected)12.8 ( that)12.7 ( the)22 ( )]TJ 0.064 Tc 0 -1.231 Td [(aggregate)12.8 ( service)12.8 ( fees)12.8 ( in)12.8 ( the)12.8 ( second)12.8 ( half)12.8 ( of)12.8 ( 2)12.7 (0)12.8 (2)12.8 (2)12.8 ( will)12.7 ( not)12.7 ( exceed)39 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.231 Td (RMB191,000.)Tj 0.105 Tc 0.07 Tw 0 -2.462 Td [(As)12.1 ( Communications)12.1 ( Holding)12.1 ( Commercial)12.1 ( Operation)12.1 ( Co)12.1 (.)12.1 ( is)12.1 ( a)80 ( )]TJ 0.036 Tc 0.072 Tw 0 -1.231 Td [(wholly)11 (-)11 (owned)11 ( )0.5 (subsidiary)11 ( )0.5 (of)11 ( )0.5 (Jiangsu)11 ( )0.5 (Communications)11 ( )0.5 (Holding)11 (,)11 ( )0.5 (it)11 ( )0.5 (is)11 ( )0.5 (a)11 ( )]TJ 0.031 Tc 0.077 Tw 0 -1.231 Td [(related)6 ( )0.5 (party)6 ( )0.5 (of)6 ( )0.5 (the)6 ( )0.5 (Company)6.1 ( )0.5 (pursuant)6 ( )0.5 (to)6 ( )0.5 (the)6 ( )0.5 (Shanghai)6 ( )0.5 (Listing)6 ( )0.5 (Rules)6 (.)6 ( )]TJ 0.025 Tc 0.01 Tw 0 -1.231 Td (Such services will constitute related party transactions of the Company.\ )Tj 0.023 Tc 0 Tw 0 -1.231 Td [(Given the total amount of such related transactions after the Completion\ )-2 ( )]TJ 0.025 Tc 0.048 Tw 0 -1.231 Td (\(together with the same type of business provided to the Group\) would \ )Tj 0.035 Tc 0.073 Tw 0 -1.231 Td [(not)10 ( )0.5 (reach)10 ( )0.5 (0)10 (.)10 (5)10 (%)10.1 ( )0.5 (of)10 ( )0.5 (the)10.1 ( )0.5 (absolute)10 ( )0.5 (value)10 ( )0.5 (of)10 ( )0.5 (the)10 ( )0.5 (Company)10 (\222)10 (s)10 ( )0.5 (latest)10 ( )0.5 (audited)10 ( )]TJ 0.028 Tc 0.08 Tw 0 -1.231 Td [(net)3 ( )0.5 (assets)3 (,)3 ( )0.5 (they)3 ( )0.5 (do)3 ( )0.5 (not)3 ( )0.5 (trigger)3 ( )0.5 (and)3 ( )0.5 (are)3 ( )0.5 (exempt)3 ( )0.5 (from)3 ( )0.5 (the)3 ( )0.5 (related)3 ( )0.5 (parties)3.1 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (transaction disclosure requirements of the Shanghai Listing Rules.)Tj ET endstream endobj 98 0 obj <>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 33 \226)Tj ET q 0 Tc 0 g /GS1 gs 0 TL/Fm0 Do Q BT 0.032 Tc 0.076 Tw 13 0 0 13 141.7323 776.3179 Tm [(electricity)6.9 ( )0.6 (price)7 (,)7 ( )0.5 (transmission)7 ( )0.5 (and)7 ( )0.5 (distribution)7 ( )0.5 (price)7 (,)7 ( )0.5 (auxiliary)7 ( )0.5 (service)7 ( )]TJ 0.059 Tc 0.07 Tw 0 -1.231 Td [(fees)12.4 (,)12.4 ( government)12.4 ( funds)12.4 ( and)12.4 ( surcharges)12.4 (.)12.4 ( Among)12.4 ( them)12.4 (,)12.4 ( the)12.4 ( price)12.4 ( of)34 ( )]TJ 0.048 Tc 0 -1.231 Td [(t)0.5 (r)0.6 (a)0.5 (n)0.6 (s)0.5 (m)0.6 (i)0.5 (s)0.6 (s)0.5 (i)0.5 (o)0.6 (n)13 ( )0.6 (a)0.5 (n)0.6 (d)13 ( )0.5 (d)0.6 (i)0.5 (s)0.6 (t)0.5 (r)0.6 (i)0.5 (b)0.5 (u)0.6 (t)0.5 (i)0.6 (o)0.5 (n)13 (,)13.1 ( )0.5 (g)0.6 (o)0.5 (v)0.5 (e)0.6 (r)0.5 (n)0.6 (m)0.5 (e)0.6 (n)0.5 (t)13 ( )0.6 (f)0.6 (u)0.5 (n)0.5 (d)0.6 (s)13 ( )0.6 (a)0.5 (n)0.6 (d)13 ( )0.5 (s)0.6 (u)0.5 (r)0.6 (c)0.5 (h)0.6 (a)0.5 (r)0.6 (g)0.5 (e)0.6 (s)13 ( )0.6 (a)0.5 (r)0.6 (e)23 ( )]TJ 0.063 Tc 0 -1.231 Td [(determined)12.1 ( according)12.1 ( to)12.1 ( the)12.1 ( document)12.1 ( issued)12.1 ( by)12.1 ( the)12.1 ( price)12.2 ( bureau)38 ( )]TJ 0.05 Tc 0 -1.231 Td [(of)12.2 ( the)12.2 ( Jiangsu)12.2 ( Development)12.1 ( and)12.1 ( Reform)12.2 ( Commission)12.1 ( \()12.1 (currently)12.2 (,)12.1 ( in)25 ( )]TJ 0.036 Tc 0.072 Tw 0 -1.231 Td [(ac)0.5 (corda)0.5 (nce)11 ( )0.5 (wi)0.5 (th)11 ( )0.5 (the)11 ( )0.5 (Jia)0.5 (ngsu)11 ( )0.5 (De)0.5 (velo)0.5 (pment)11 ( )0.5 (a)0.5 (nd)11 ( )0.5 (Refor)0.5 (m)11 ( )0.5 (Commis)0.5 (sion)11 (\222)11 (s)11 ( )]TJ 0.047 Tc 0.07 Tw 0 -1.231 Td [(\223)12.6 (Notice)12.7 ( of)12.6 ( the)12.6 ( Provincial)12.7 ( Development)12.6 ( and)12.6 ( Reform)12.6 ( Commission)12.6 ( on)22 ( )]TJ 0.025 Tc 0.02 Tw 0 -1.231 Td (Matters Related to Jiangsu Power Grid\222s Transmission and Distribution\ )Tj 0.057 Tw 0 -1.231 Td (Price and Sales Price 2020\2262022\224 \(Su Fa Gai Jia Ge [2020] No. 118\ 3\) )Tj 0.052 Tc 0.07 Tw 0 -1.231 Td [(a)0.5 (n)0.5 (d)13.1 ( )0.5 (\223)13 (N)0.5 (o)0.6 (t)0.5 (i)0.5 (c)0.5 (e)13 ( )0.6 (o)0.5 (n)13 ( )0.5 (D)0.5 (e)0.6 (e)0.5 (p)0.5 (e)0.5 (n)0.6 (i)0.5 (n)0.5 (g)13 ( )0.5 (t)0.5 (h)0.5 (e)13.1 ( )0.5 (R)0.5 (e)0.5 (f)0.6 (o)0.5 (r)0.5 (m)13 ( )0.5 (o)0.6 (f)13 ( )0.5 (M)0.5 (a)0.5 (r)0.6 (k)0.5 (e)0.5 (t)0.5 (i)0.5 (z)0.6 (a)0.5 (t)0.5 (i)0.5 (o)0.5 (n)13 ( )0.6 (o)0.5 (f)13 ( )0.5 (O)0.6 (n)13 (-)13 (g)0.5 (r)0.5 (i)0.5 (d)27 ( )]TJ 0.055 Tc 0 -1.231 Td [(Electricity)12.6 ( Prices)12.6 ( for)12.6 ( Coal)12.7 ( Thermal)12.6 ( Power)12.6 ( Generation)12.6 (\224)12.7 ( \()12.6 (Su)12.6 ( Fa)12.7 ( Gai)30 ( )]TJ 0.025 Tc 0.075 Tw 0 -1.231 Td (Jia Ge [2021] No. 1008\)\), and the auxiliary service fee is borne by al\ l )Tj 0.05 Tc 0.07 Tw 0 -1.231 Td [(ma)0.5 (rke)0.5 (t)12.9 (-)13 (ori)0.5 (ent)0.5 (ed)13 ( us)0.5 (er)0.5 (s)12.9 ( a)0.5 (cc)0.5 (ord)0.5 (ing)13 ( to)13 ( th)0.5 (e)12.9 ( )0.5 (rel)0.5 (ev)0.5 (ant)13 ( tr)0.5 (ans)0.5 (ac)0.5 (ti)0.5 (on)12.9 ( r)0.5 (ule)0.5 (s)12.9 ( )0.5 (of)25 ( )]TJ 0 -1.231 Td [(the)12.9 ( Jiangsu)12.8 ( Electric)12.9 ( Power)12.9 ( Auxiliary)12.8 ( Service)12.9 ( Market)12.9 ( )]TJ /C0_0 1 Tf 0.037 Tc -0.037 Tw <03EA163D0F65026210BE043F>Tj 0.035 Tc -0.035 Tw 0 -1.231 Td <06020A1503390C19>Tj /T1_0 1 Tf 0.048 Tc 0.07 Tw [( \()12.6 (to)12.6 ( be)12.7 ( conducted)12.6 ( in)12.7 ( accordance)12.6 ( with)12.6 ( semi)12.7 (-)12.6 (annual)12.7 ( releases)23 ( )]TJ 0.041 Tc 0 -1.231 Td [(of)12.9 ( the)12.9 ( Jiangsu)12.9 ( Energy)12.9 ( Supervision)12.9 ( O)0.5 (ffice)12.9 (\))12.9 (.)12.9 ( Market)12.9 (-)12.9 (based)12.9 ( transaction)16 ( )]TJ 0.048 Tc 0 -1.231 Td [(electricity)12.2 ( price)12.2 ( is)12.2 ( the)12.2 ( average)12.2 ( annual)12.2 ( wholesale)12.1 ( market)12.1 ( transaction)23 ( )]TJ 0.025 Tc 0.029 Tw 0 -1.231 Td (price released by Jiangsu Electric Power Trading Centre )Tj /C0_0 1 Tf -0.025 Tw <03EA163D07B20F6502620374>Tj 0 -1.231 Td <05F8029502D0>Tj /T1_0 1 Tf 0.028 Tc 0.08 Tw [( )0.5 (i)0.5 (n)3 ( )0.5 (t)0.5 (h)0.5 (e)3.1 ( )0.5 (s)0.5 (e)0.5 (t)0.6 (t)0.5 (l)0.5 (e)0.5 (m)0.6 (e)0.5 (n)0.5 (t)3 ( )0.5 (m)0.5 (o)0.6 (n)0.5 (t)0.5 (h)3 (.)3 ( )0.5 (S)0.5 (e)0.6 (t)0.5 (t)0.5 (l)0.5 (e)0.6 (m)0.5 (e)0.5 (n)0.5 (t)3 ( )0.5 (s)0.6 (h)0.5 (a)0.5 (l)0.5 (l)3.1 ( )0.5 (b)0.5 (e)3 ( )0.5 (m)0.5 (a)0.6 (d)0.5 (e)3 ( )0.5 (o)0.5 (n)3 ( )0.5 (m)0.5 (o)0.6 (n)0.5 (t)0.5 (h)0.5 (l)0.5 (y)3 ( )]TJ 0.051 Tc 0.07 Tw 0 -1.231 Td [(basis)12.2 (.)12.3 ( Nantong)12.3 ( Tiandian)12.3 ( Emerging)12.3 ( Energy)12.3 ( shall)12.2 ( report)12.3 ( the)12.3 ( relevant)26 ( )]TJ 0.022 Tc 0 Tw 0 -1.231 Td [(usage and electricity price to Jiangsu Electric Power Trading Centre and\ )-3 ( )]TJ 0.03 Tc 0.078 Tw 0 -1.231 Td [(verify)5 ( )0.5 (the)5 ( )0.5 (relevant)5 ( )0.5 (settlement)5 ( )0.5 (data)5.1 ( )0.5 (according)5 ( )0.5 (to)5 ( )0.5 (the)5.1 ( )0.5 (electricity)5 ( )0.5 (invoice)5 ( )]TJ 0.043 Tc 0.07 Tw 0 -1.231 Td [(a)0.5 (n)0.5 (d)13 ( )0.5 (e)0.5 (l)0.5 (e)0.5 (c)0.5 (tr)0.6 (ic)0.5 (i)0.5 (t)0.5 (y)13 ( )0.5 (v)0.5 (e)0.5 (r)0.5 (i)0.5 (f)0.5 (i)0.5 (c)0.5 (a)0.5 (ti)0.5 (o)0.5 (n)13 ( )0.5 (s)0.5 (c)0.5 (h)0.5 (e)0.5 (d)0.5 (u)0.5 (l)0.5 (e)13 ( )0.5 (in)13 ( )0.5 (e)0.5 (a)0.5 (c)0.5 (h)13 ( )0.5 (s)0.5 (e)0.5 (t)0.5 (t)0.5 (l)0.5 (e)0.5 (m)0.5 (e)0.5 (n)0.5 (t)12.9 ( )0.5 (m)0.5 (o)0.5 (n)0.5 (t)0.5 (h)13 ( )0.5 (c)0.5 (y)0.5 (c)0.5 (l)0.5 (e)13 (.)18 ( )]TJ 0.036 Tc 0.072 Tw 0 -1.231 Td [(Rudong)11 ( )0.5 (Company)11 ( )0.5 (will)10.9 ( )0.6 (settle)11 ( )0.5 (its)11 ( )0.5 (electricity)11 ( )0.5 (with)11 ( )0.5 (the)11.1 ( grid)11 ( )0.5 (company)11 (.)11 ( )0.5 (In)11 ( )]TJ 0.026 Tc 0.082 Tw 0 -1.231 Td [(2)1 (0)1 (2)1 (1)1 (,)1 ( )0.5 (the)1 ( )0.5 (electricity)1 ( )0.5 (charge)1 ( )0.5 (was)1 ( )0.5 (RMB)1 (2)1 ( )0.5 (million)1 (.)1 ( )0.5 (It)0.9 ( )0.5 (is)1 ( )0.5 (expected)1 ( )0.5 (that)1 ( )0.5 (the)1 ( )]TJ 0.025 Tc 0.083 Tw 0 -1.231 Td [(transaction )0.5 (value )0.5 (for )0.5 (the second )0.5 (half of )0.5 (2022 )0.5 (will )0.5 (not )0.5 (exceed )0.5 (RMB1.4 )]TJ -0.025 Tw 0 -1.231 Td (million.)Tj 0.046 Tc 0.07 Tw 0 -2.462 Td [(Given)12.2 ( the)12.3 ( transaction)12.2 ( price)12.2 ( of)12.2 ( the)12.3 ( above)12.3 (-)12.3 (mentioned)12.3 ( electricity)12.3 ( sales)21.1 ( )]TJ 0.025 Tc 0.031 Tw 0 -1.231 Td (service is set by the State, and the total transaction value in each of \ the )Tj 0.031 Tc 0.077 Tw 0 -1.231 Td [(remaining)6 ( )0.5 (financial)6 ( )0.5 (years)6 ( )0.5 (would)6 ( )0.5 (not)6 ( )0.5 (reach)6 ( )0.5 (0)6 (.)6 (5)6 (%)6 ( )0.5 (of)6 ( )0.5 (the)6.1 ( )0.5 (absolute)6 ( )0.5 (value)6 ( )]TJ 0.042 Tc 0.07 Tw 0 -1.231 Td [(of)12.4 ( the)12.4 ( Company)12.4 (\222)12.4 (s)12.4 ( latest)12.3 ( audited)12.4 ( net)12.4 ( assets)12.5 (,)12.4 ( it)12.4 ( does)12.4 ( not)12.4 ( trigger)12.5 ( and)12.4 ( is)17.1 ( )]TJ 0.028 Tc 0.08 Tw 0 -1.231 Td [(exempt)3 ( )0.5 (from)3 ( )0.5 (the)3 ( )0.5 (related)3 ( )0.5 (parties)3 ( )0.5 (transaction)3 ( )0.5 (disclosure)3 ( )0.6 (requirements)3 ( )0.5 (of)3 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (the Shanghai Listing Rules.)Tj 0.079 Tw 0 -2.462 Td (As Jiangsu Communications Holding holds a direct 31.08% interest in )Tj 0.048 Tc 0.07 Tw 0 -1.231 Td [(Nantong)12.7 ( Tiansheng)12.7 ( Port)12.6 ( Company)12.7 ( and)12.6 ( Nantong)12.7 ( Tiandian)12.7 ( Emerging)22.9 ( )]TJ 0.089 Tc 0 -1.231 Td [(Energy)12.7 ( is)12.6 ( a)12.6 ( 9)12.6 (9)12.7 (%)12.6 (-)12.7 (owned)12.7 ( subsidiary)12.6 ( of)12.6 ( Nantong)12.6 ( Tiansheng)12.7 ( Port)64 ( )]TJ 0.025 Tc 0.002 Tw 0 -1.231 Td (Company, Nantong Tiandian Emerging Energy is a connected person of )Tj 0.082 Tw 0 -1.231 Td (the Company pursuant to Rules 14A.07\(3\) and 14A.13\(3\) of the Hong )Tj 0.079 Tw 0 -1.231 Td (Kong Listing Rules. Such service will constitute continuing connected )Tj 0 Tw 0 -1.231 Td (transaction of the Company.)Tj ET endstream endobj 97 0 obj <> endobj 101 0 obj [102 0 R] endobj 102 0 obj <> endobj 103 0 obj <> endobj 104 0 obj <> endobj 105 0 obj <>stream Hj`P, L v\@Y9T0ie#ЁA+,"wH֎N`!Bр|`5! endstream endobj 106 0 obj <>stream HTTyTwdDm&Rz@uնUU\EKJ9J`BN&$c2 E.{VZku}VVڮzXuo_={FGDEGGcyڽ:+W,ܛR4gHcEdfq4)aSӏXx’E %`ЗlE($:̯8V_&؟I\FMgTV KyB':Q[ϙjM-ci1ߐKͩ+F+nh)nj\2Mػbĉ\cДyx,?2I_ xnGʎJJ%"Egbc c3JxԼ;;N<X *5 'N\/j92%.Dj0-[ Z\K?U$t^ +E0EըSdfPޠ&w*ЀXhtzoLXJnR.swsw#Dp~+=2yPnb^O80[>%3lk)^9‚f .x!@%+–Ns < Eaf_ $m<~+Eʴ^>WӴzk564l @cltWgqtTa63 )Ptn`o$X(Mz}Qe;T%bJh5 \ w  I_'A |2l[^e5j4Ff#dX:^٢OuOe^}-VS ,͂N!(9.4,Ry;/V,?zu# pU\SBȹ } ^. 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The maturity date of the RMB300 million loan is )Tj 0.024 Tw 0 -1.231 Td (20 January 2025, and Rudong Company shall be responsible for paying )Tj 0.074 Tw 0 -1.231 Td (the interest and repaying the principal in accordance with the terms of \ )Tj 0.04 Tc 0.07 Tw 0 -1.231 Td [(t)0.5 (he)13 ( )0.5 (3)13 (.)12.9 (7)13 (4)13 (%)12.9 ( )0.5 (p)0.5 (er)13 ( )0.5 (a)0.5 (nn)0.5 (u)0.5 (m)12.9 ( )0.5 (g)0.5 (r)0.5 (ee)0.5 (n)13 ( )0.5 (bo)0.5 (n)0.5 (d)12.9 ( )0.5 (i)0.5 (ss)0.5 (u)0.5 (e)0.5 (d)12.9 ( )0.5 (b)0.5 (y)12.9 ( )0.5 (J)0.5 (i)0.5 (an)0.5 (g)0.5 (su)13 ( )0.5 (C)0.5 (om)0.5 (m)0.5 (un)0.5 (i)0.5 (ca)0.5 (t)0.5 (i)0.5 (on)0.5 (s)15 ( )]TJ 0.042 Tc 0 -1.231 Td [(Holding)12.7 ( to)12.8 ( provide)12.8 ( the)12.8 ( loan)12.8 (.)12.7 ( Interest)12.8 ( rate)12.8 ( is)12.8 ( not)12.8 ( higher)12.7 ( than)12.7 ( the)12.8 ( loan)17 ( )]TJ 0.047 Tc 0 -1.231 Td [(market)12.7 ( quoted)12.7 ( interest)12.7 ( rate)12.8 (.)12.8 ( The)12.8 ( annual)12.8 ( guarantee)12.8 ( fee)12.8 ( is)12.8 ( determined)22 ( )]TJ 0.024 Tc 0 Tw 0 -1.231 Td [(according to the shareholding ratio of state-owned assets. Since Rudong)-1 ( )]TJ 0.025 Tc 0.034 Tw 0 -1.231 Td (Company is 72% owned by YS Energy Company, the annual guarantee )Tj 0.047 Tc 0.07 Tw 0 -1.231 Td [(fee)12.2 ( is)12.2 ( 0)12.2 (.)12.3 (1)12.2 (%)12.2 ( for)12.2 ( 7)12.3 (2)12.2 (%)12.2 ( of)12.2 ( the)12.2 ( outstanding)12.2 ( loan)12.2 ( amount)12.3 ( and)12.2 ( 1)12.2 (%)12.3 ( for)12.3 ( the)22.1 ( )]TJ 0.028 Tc 0.08 Tw 0 -1.231 Td [(balance)3 ( )0.5 (of)3 ( )0.5 (the)3 ( )0.5 (outstanding)3 ( )0.5 (loan)3 ( )0.5 (amount)3 (.)3 ( )0.5 (If)3 ( )0.5 (RMB)3 (4)3 ( )0.5 (billion)3 ( )0.5 (loan)3.1 ( )0.5 (is)3 ( )0.5 (fully)3 ( )]TJ 0.034 Tc 0.074 Tw 0 -1.231 Td [(withdrawn)9 ( )0.5 (from)9 ( )0.5 (1)9 ( )0.5 (July)9 ( )0.5 (2)9 (0)9 (2)9 (2)9 (,)9 ( )0.5 (the)9 ( )0.5 (guarantee)9.1 ( )0.5 (fee)9 ( )0.5 (for)9 ( )0.5 (the)9 ( )0.5 (second)9 ( )0.5 (half)9 ( )0.5 (of)9 ( )]TJ 0.033 Tc 0.075 Tw 0 -1.231 Td [(2)8 (0)8 (2)8 (2)8 ( )0.5 (will)8 ( )0.5 (be)8 ( )0.5 (RMB)8 (1)8 (4)8 (.)8 (0)8.1 (8)8 ( )0.5 (million)8 (.)8 ( )0.5 (The)8 ( )0.5 (guarantee)8 ( )0.5 (fee)8.1 ( )0.5 (rate)8 ( )0.5 (is)8 ( )0.5 (lower)8 ( )0.5 (than)8 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (rates offered by commercial guarantee companies.)Tj 0.028 Tc 0.08 Tw 0 -2.462 Td [(Hence)3 (,)3 ( )0.5 (ac)0.5 (cording)3 ( )0.5 (to)3 ( )0.5 (the)3 ( )0.5 (Rules)3 ( )0.5 (Governing)3 ( )0.5 (the)3 ( )0.5 (Listing)3 ( )0.5 (of)3 ( )0.5 (Stocks)3 ( )0.5 (on)3 ( )0.5 (the)3.1 ( )]TJ 0.048 Tc 0.07 Tw 0 -1.231 Td [(S)0.5 (ha)0.5 (n)0.5 (g)0.5 (ha)0.5 (i)13 ( S)0.5 (t)0.5 (o)0.5 (ck)13 ( )0.5 (E)0.5 (xc)0.5 (h)0.5 (a)0.5 (ng)0.5 (e)13 ( )0.5 (\()13 (he)0.5 (r)0.5 (e)0.5 (in)0.5 (a)0.5 (f)0.5 (te)0.5 (r)13 ( )0.5 (re)0.5 (f)0.5 (e)0.5 (r)0.5 (re)0.5 (d)13 ( )0.5 (to)13 ( )0.5 (as)13 ( )0.5 (t)0.5 (h)0.5 (e)12.9 ( )0.5 (\223)]TJ /T1_1 1 Tf -0.048 Tw 26.192 0 Td [(S)0.5 (ha)0.5 (n)0.5 (gh)0.5 (a)0.5 (i)23 ( )]TJ 0.031 Tc 0.077 Tw -26.192 -1.231 Td [(Listing)5.9 ( )0.6 (Rules)]TJ /T1_0 1 Tf 6.108 0 Td [(\224)6 (\))6 (,)6 ( )0.5 (\()6.1 (i)6 (\))6 ( )0.5 (the)6.1 ( )0.5 (provision)6 ( )0.5 (of)6 ( )0.5 (the)6 ( )0.5 (loan)6 ( )0.5 (of)6 ( )0.5 (RMB)6 (3)6 (0)6 (0)6 ( )0.5 (million)6 ( )0.5 (can)6 ( )]TJ 0.036 Tc 0.072 Tw -6.108 -1.231 Td [(b)0.5 (e)11 ( )0.5 (e)0.6 (x)0.5 (e)0.5 (m)0.5 (p)0.6 (t)0.5 (e)0.5 (d)11 ( )0.5 (f)0.5 (r)0.6 (o)0.5 (m)11 ( )0.5 (t)0.5 (h)0.5 (e)11.1 ( )0.5 (a)0.5 (p)0.5 (p)0.5 (r)0.6 (o)0.5 (v)0.5 (a)0.5 (l)11 ( )0.5 (a)0.6 (n)0.5 (d)11 ( )0.5 (d)0.5 (i)0.5 (s)0.6 (c)0.5 (l)0.5 (o)0.5 (s)0.6 (u)0.5 (r)0.5 (e)11 ( )0.5 (r)0.6 (e)0.5 (q)0.5 (u)0.5 (i)0.6 (r)0.5 (e)0.5 (m)0.5 (e)0.6 (n)0.5 (t)11 ( )0.5 (o)0.5 (f)11 ( )0.5 (r)0.6 (e)0.5 (l)0.5 (a)0.6 (t)0.5 (e)0.5 (d)11 ( )]TJ 0.049 Tc 0.07 Tw 0 -1.231 Td [(p)0.5 (a)0.5 (r)0.5 (t)0.5 (y)13 ( )0.5 (t)0.5 (r)0.5 (a)0.5 (n)0.5 (s)0.5 (a)0.5 (c)0.5 (t)0.5 (i)0.5 (o)0.5 (n)0.5 (s)13 (;)13 ( )0.5 (a)0.5 (n)0.5 (d)13 ( )0.5 (\()13 (ii)13 (\))13 ( )0.5 (t)0.5 (h)0.5 (e)13 ( )0.5 (p)0.5 (r)0.5 (o)0.5 (v)0.5 (i)0.5 (s)0.5 (i)0.5 (o)0.5 (n)13 ( )0.5 (o)0.5 (f)13 ( )0.5 (a)13 ( )0.5 (g)0.5 (u)0.5 (a)0.5 (r)0.5 (a)0.5 (n)0.5 (t)0.5 (e)0.5 (e)13 ( )0.5 (o)0.5 (n)13 ( )0.5 (t)0.5 (he)13.1 ( )0.5 (l)0.5 (o)0.5 (a)0.5 (n)23.9 ( )]TJ 0.025 Tc 0.05 Tw 0 -1.231 Td (granted by the Jiangsu Branch of State Development Bank \(total credit )Tj 0.027 Tc 0.081 Tw 0 -1.231 Td [(line)2 ( )0.5 (of)2 ( RMB)2 (4)2 ( )0.5 (billion)2 (\))2 ( )0.5 (and)2 ( )0.5 (the)2 ( )0.5 (charging)1.9 ( )0.5 (of)2 ( )0.5 (guarantee)2 ( )0.5 (fees)2 (,)2 ( )0.5 (is)2.1 ( not)2 ( )0.5 (more)2 ( )]TJ 0.044 Tc 0.07 Tw 0 -1.231 Td [(than)12.5 ( 0)12.5 (.)12.4 (5)12.5 (%)12.5 ( of)12.5 ( the)12.5 ( absolute)12.5 ( value)12.5 ( of)12.5 ( the)12.5 ( Company)12.5 (\222)12.5 (s)12.5 ( latest)12.5 ( audited)12.4 ( net)19.1 ( )]TJ 0.025 Tc 0.021 Tw 0 -1.231 Td (assets, does not trigger and is exempt from the related party transactio\ n )Tj 0 Tw 0 -1.231 Td (disclosure requirements.)Tj 0.036 Tw 0 -2.462 Td (As such financial assistances are on normal commercial terms or better )Tj 0.028 Tw 0 -1.231 Td (and is not 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Tc 0.078 Tw -20.484 -1.231 Td (The settlement electricity price is the sum of market-based transaction \ )Tj ET endstream endobj 95 0 obj <>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 31 \226)Tj ET q 0 Tc 0 g /GS1 gs 0 TL/Fm0 Do Q BT 0.048 Tw 13 0 0 13 85.0394 776.3179 Tm (costs. 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been)12.7 ( put)12.7 ( into)12.7 ( operation)12.6 ( and)12.7 ( are)12.7 ( expected)12.7 ( to)12.7 ( generate)12.7 ( stable)12.7 ( income)12.7 ( in)15 ( )]TJ 0.032 Tc 0.076 Tw 0 -1.231 Td [(the)7 ( )0.5 (future)7 (.)7 ( )0.5 (Therefore)7 (,)7 ( )0.6 (the)7 ( )0.5 (acquisition)7 ( )0.5 (of)7 ( )0.5 (the)7 ( )0.6 (Target)7 ( )0.6 (Group)7 ( )0.5 (is)7 ( )0.5 (expected)7 ( )0.5 (to)6.9 ( )0.6 (have)7 ( )0.5 (a)7 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (positive impact on the future long-term earnings of the Group.)Tj /T1_1 1 Tf -2.181 -2.462 Td [(V )-1158.5 (CONTINUING CONNECTED TRANSACTIONS UPON COMPLETION)]TJ /T1_0 1 Tf 0.052 Tc 0.07 Tw 2.181 -2.462 Td [(U)0.5 (p)0.5 (o)0.5 (n)13 ( )0.5 (C)0.5 (o)0.5 (m)0.5 (p)0.5 (l)0.5 (e)0.5 (t)0.5 (i)0.5 (o)0.5 (n)13 ( )0.5 (o)0.5 (f)13 ( )0.6 (t)0.5 (he)13.1 ( )0.5 (t)0.5 (r)0.5 (a)0.5 (n)0.5 (s)0.5 (f)0.5 (e)0.5 (r)13 ( )0.5 (o)0.5 (f)13 ( )0.5 (T)0.5 (a)0.6 (r)0.5 (g)0.5 (e)0.5 (t)13 ( )0.5 (E)0.5 (q)0.5 (u)0.5 (i)0.5 (t)0.5 (y)13 (,)13 ( )0.5 (Y)0.5 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Tw 2.51 -1.231 Td (Target Group)Tj /T1_0 1 Tf 0.061 Tc 0.07 Tw 13 0 0 13 141.7323 248.3179 Tm [(Jiangsu)12.8 ( Communications)12.9 ( Holding)12.8 ( currently)12.9 ( provides)12.9 ( \()12.9 (1)12.8 (\))12.9 ( a)12.9 ( loan)12.8 ( of)36 ( )]TJ 0.05 Tc 0 -1.231 Td [(RMB)12.4 (3)12.5 (0)12.5 (0)12.5 ( million)12.5 ( to)12.4 ( Rudong)12.5 ( Company)12.5 (,)12.5 ( a)12.5 ( 7)12.4 (2)12.5 (%)12.5 (-)12.5 (controlled)12.5 ( subsidiary)25 ( )]TJ 0.025 Tc 0.078 Tw 0 -1.231 Td (of YS Energy Company, and \(2\) a guarantee for the loan advanced by )Tj ET endstream endobj 43 0 obj </LastModified/NumberOfPageItemsInPage 2/NumberofPages 1/OriginalDocumentID/PageItemUIDToLocationDataMap<>/PageTransformationMatrixList<>/PageUIDList<>/PageWidthList<>>>>>/Resources<>/Font<>/ProcSet[/PDF/Text]/XObject<>>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page>> endobj 44 0 obj </LastModified/NumberOfPageItemsInPage 2/NumberofPages 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(t)2 ( )0.5 (s)0.5 (c)0.5 (a)0.6 (l)0.5 (e)2 ( )0.5 (o)0.5 (f)2 ( )0.5 (o)0.5 (f)0.5 (f)0.5 (s)0.6 (h)0.5 (o)0.5 (r)0.5 (e)2 ( )0.5 (w)0.5 (i)0.6 (n)0.5 (d)2 ( )0.5 (p)0.5 (o)0.5 (w)0.5 (e)0.6 (r)2 ( )0.5 (i)0.5 (n)2 ( )0.5 (o)0.5 (p)0.5 (e)0.5 (r)0.5 (a)0.6 (t)0.5 (i)0.5 (o)0.5 (n)2 ( )0.5 (i)0.5 (n)2 ( )0.5 (C)0.5 (h)0.6 (i)0.5 (n)0.5 (a)2 (.)2 ( )0.5 (A)0.5 (s)2 ( )0.5 (a)0.5 (t)2 ( )0.5 (t)0.5 (h)0.5 (e)2 ( )0.5 (e)0.6 (n)0.5 (d)2 ( )0.5 (o)0.5 (f)2 ( )]TJ 0.025 Tc 0.009 Tw 0 -1.231 Td (December 2021, with the connection of the last batch of offshore wind tu\ rbines in )Tj 0.012 Tw 0 -1.231 Td (the sea area of Yancheng, all the offshore wind power projects under con\ struction )Tj 0.042 Tw 0 -1.231 Td (in Jiangsu Province have been successfully connected to the grid at full\ capacity. )Tj 0.043 Tc 0.07 Tw 0 -1.231 Td [(The)12.7 ( installed)12.6 ( capacity)12.6 ( of)12.6 ( offshore)12.7 ( wind)12.6 ( power)12.7 ( reached)12.7 ( 1)12.7 (1)12.6 (.)12.7 (8)12.6 ( million)12.6 ( kilowatts)12.7 (,)18 ( )]TJ 0.025 Tc 0.028 Tw 0 -1.231 Td (accounting for nearly half of the national total. Combined with the endo\ wment of )Tj 0.033 Tw 0 -1.231 Td (solar and wind resources in Jiangsu Province, Jiangsu Province is suitab\ le for the )Tj 0 Tw 0 -1.231 Td (development of clean energy.)Tj /T1_1 1 Tf 0.006 Tw 0 -2.462 Td [(Thirdly, is to expand the business scope of )0.5 (the Group and achieve sustainable )]TJ -0.025 Tw 0 -1.231 Td (development.)Tj /T1_0 1 Tf 0.055 Tw ( The Group\222s current core business is the investment, construction, )Tj 0.047 Tc 0.07 Tw 0 -1.231 Td [(o)0.5 (p)0.5 (e)0.6 (r)0.5 (a)0.6 (t)0.5 (i)0.5 (o)0.5 (n)13 ( )0.6 (a)0.5 (n)0.5 (d)13 ( )0.6 (m)0.5 (a)0.5 (n)0.5 (a)0.6 (g)0.5 (e)0.5 (m)0.6 (e)0.5 (n)0.5 (t)13 ( )0.6 (o)0.5 (f)13 ( )0.5 (t)0.6 (o)0.5 (l)0.5 (l)13 ( )0.6 (r)0.5 (o)0.5 (a)0.5 (d)0.6 (s)13 ( )0.5 (a)0.6 (n)0.5 (d)13 ( )0.5 (b)0.5 (r)0.6 (i)0.5 (d)0.5 (g)0.5 (e)0.6 (s)13 ( )0.5 (i)0.6 (n)13 ( )0.5 (J)0.5 (i)0.6 (a)0.5 (n)0.5 (g)0.5 (s)0.6 (u)13 ( )0.5 (P)0.5 (r)0.6 (o)0.5 (v)0.5 (i)0.5 (n)0.5 (c)0.6 (e)13 (,)13 ( )0.6 (a)0.5 (n)0.5 (d)22 ( )]TJ 0.048 Tc 0 -1.231 Td [(t)0.5 (h)0.5 (e)13 ( )0.5 (d)0.5 (e)0.5 (v)0.5 (e)0.5 (l)0.5 (o)0.5 (p)0.5 (m)0.5 (e)0.5 (n)0.5 (t)13 ( )0.5 (o)0.5 (f)13 ( )0.5 (s)0.5 (u)0.5 (p)0.5 (po)0.5 (r)0.5 (t)0.5 (i)0.5 (n)0.5 (g)13 ( )0.5 (o)0.5 (p)0.5 (e)0.5 (r)0.5 (a)0.5 (t)0.5 (i)0.5 (o)0.5 (n)0.5 (s)13 ( )0.5 (i)0.5 (n)13 ( )0.5 (s)0.5 (e)0.5 (r)0.5 (v)0.5 (i)0.5 (c)0.5 (e)13 ( )0.5 (a)0.5 (r)0.5 (e)0.5 (a)0.5 (s)13 ( )0.5 (a)0.5 (l)0.5 (o)0.5 (n)0.5 (g)13 ( )0.5 (e)0.5 (x)0.5 (p)0.5 (r)0.5 (e)0.5 (s)0.5 (s)0.5 (w)0.5 (a)0.5 (y)0.5 (s)23 ( )]TJ 0.074 Tc 0 -1.231 Td [(\()13 (i)0.5 (nc)0.5 (l)0.5 (u)0.5 (d)0.5 (in)0.5 (g)13 ( r)0.5 (e)0.5 (f)0.5 (u)0.5 (e)0.5 (li)0.5 (n)0.5 (g)13 (,)12.9 ( )0.5 (c)0.5 (a)0.5 (t)0.5 (e)0.5 (ri)0.5 (n)0.5 (g)13 (,)12.9 ( )0.5 (s)0.5 (h)0.5 (op)0.5 (p)0.5 (i)0.5 (ng)13 (,)13 ( )0.5 (a)0.5 (dv)0.5 (e)0.5 (r)0.5 (t)0.5 (is)0.5 (i)0.5 (n)0.5 (g)12.9 ( )0.5 (a)0.5 (n)0.5 (d)13 ( a)0.5 (c)0.5 (c)0.5 (o)0.5 (m)0.5 (mo)0.5 (d)0.5 (a)0.5 (ti)0.5 (o)0.5 (n)13 (,)49 ( )]TJ 0.048 Tc 0 -1.231 Td [(e)0.5 (t)0.5 (c)13 (.)13 (\))13 (.)13 ( )0.5 (H)0.5 (e)0.5 (n)0.5 (c)0.5 (e)13 (,)13 ( )0.5 (i)0.5 (n)13 ( )0.5 (o)0.5 (r)0.5 (d)0.5 (e)0.5 (r)13 ( )0.5 (t)0.5 (o)13 ( )0.5 (m)0.5 (a)0.5 (k)0.5 (e)13 ( )0.5 (f)0.5 (u)0.5 (l)0.5 (l)13 ( )0.5 (u)0.5 (s)0.5 (e)13 ( )0.5 (o)0.5 (f)13 ( )0.5 (t)0.5 (h)0.5 (e)13 ( )0.5 (C)0.5 (o)0.5 (m)0.5 (p)0.5 (a)0.5 (n)0.5 (y)13 (\222)13 (s)13 ( )0.5 (c)0.5 (a)0.5 (p)0.5 (i)0.5 (t)0.5 (a)0.5 (l)13 ( )0.5 (s)0.5 (t)0.5 (r)0.5 (e)0.5 (n)0.5 (g)0.5 (t)0.5 (h)13 ( )0.5 (a)0.5 (n)0.5 (d)23 ( )]TJ 0.06 Tc 0 -1.231 Td [(other)12.7 ( advantages)12.7 (,)12.7 ( actively)12.7 ( enhance)12.7 ( corporate)12.7 ( value)12.7 ( and)12.7 ( achieve)12.7 ( sustainable)35 ( )]TJ 0.025 Tc 0.036 Tw 0 -1.231 Td (development, the Company needs to improve its industrial structure and o\ ptimize )Tj 0.07 Tc 0.07 Tw 0 -1.231 Td [(its)12.8 ( industrial)12.8 ( layout)12.8 (.)12.8 ( Through)12.8 ( the)12.8 ( acquisition)12.7 ( of)12.8 ( YS)12.8 ( Energy)12.8 ( Company)12.8 (,)12.8 ( the)45 ( )]TJ 0.032 Tc 0.076 Tw 0 -1.231 Td [(Company)7 ( )0.5 (can)7 ( )0.5 (overcome)7 ( )0.5 (the)7 ( )0.6 (entry)7 ( )0.5 (barriers)7 ( )0.5 (of)7 ( )0.5 (the)7 ( )0.5 (clean)7 ( )0.5 (energy)7 ( )0.5 (industry)7 (,)7 ( )0.5 (quickly)7 ( )]TJ 0.033 Tc 0.075 Tw 0 -1.231 Td [(enter)8 ( )0.5 (the)8 ( )0.5 (clean)8 ( )0.5 (energy)8 ( )0.5 (industry)8 (,)8 ( )0.5 (and)8 ( )0.5 (expand)8.1 ( )0.5 (its)8 ( )0.5 (business)8 ( )0.5 (scope)8.1 (.)7.9 ( )0.6 (In)8 ( )0.5 (this)8.1 ( )0.5 (way)8 (,)8 ( )0.5 (the)8 ( )]TJ 0.041 Tc 0.07 Tw 0 -1.231 Td [(sust)0.5 (ainabl)0.5 (e)12.9 ( dev)0.5 (elopme)0.5 (nt)12.9 ( ca)0.5 (pabili)0.5 (ty)12.9 ( and)12.9 ( )0.5 (risk)12.9 (-)13 (resist)0.5 (ance)13 ( capa)0.5 (bility)12.9 ( )0.5 (of)12.9 ( the)13 ( Grou)0.5 (p)15.9 ( )]TJ 0.024 Tc 0 Tw 0 -1.231 Td [(could be enhanced, the value of the Company could be enhanced, and the i\ nterests)-1 ( )]TJ 0.025 Tc 0 -1.231 Td (of the Company and its shareholders could be better protected.)Tj /T1_1 1 Tf 0.057 Tc 0.07 Tw 0 -2.462 Td [(Fourthly)12.9 (,)12.9 ( is)12.9 ( to)12.8 ( achieve)12.8 ( business)12.8 ( synergy)12.9 ( to)12.9 ( facilitate)12.9 ( the)12.8 ( development)12.9 ( of)32 ( )]TJ 0.045 Tc 0 -1.231 Td [(the)12.5 ( Group)12.5 (\222)12.5 (s)12.4 ( clean)12.4 ( energy)12.5 ( business)12.4 (.)]TJ /T1_0 1 Tf 16.516 0 Td [( The)12.5 ( current)12.4 ( core)12.5 ( business)12.4 ( of)12.5 ( YS)12.5 ( Energy)20 ( )]TJ 0.054 Tc -16.516 -1.231 Td [(Company)12.2 ( is)12.1 ( clean)12.1 ( energy)12.1 ( power)12.2 ( generation)12.2 ( such)12.2 ( as)12.1 ( photovoltaic)12.1 ( power)12.1 (,)12.1 ( and)29 ( )]TJ 0.025 Tc 0.041 Tw 0 -1.231 Td (offshore wind power. Photovoltaic and offshore wind power as renewable e\ nergy )Tj 0.03 Tc 0.078 Tw 0 -1.231 Td [(is)5 ( )0.5 (the)5 ( )0.5 (future)5 ( )0.5 (development)5 ( )0.5 (direction)5 ( )0.5 (of)5 ( )0.5 (green)5 ( )0.5 (energy)5 ( )0.5 (travel)5 (.)5 ( )0.5 (The)5 ( )0.5 (Group)5 ( )0.5 (currently)5 ( )]TJ 0.033 Tc 0.075 Tw 0 -1.231 Td [(holds)8 ( )0.5 (a)8 ( )0.5 (large)8 ( )0.5 (number)8 ( )0.5 (of)8 ( )0.5 (core)8.1 ( )0.5 (assets)8 ( )0.5 (such)8 ( )0.5 (as)8 ( )0.5 (expressways)8 (,)8 ( )0.5 (service)8 ( )0.5 (areas)8 ( )0.5 (and)8.1 ( )0.5 (toll)8 ( )]TJ 0.045 Tc 0.07 Tw 0 -1.231 Td [(stations)12.6 (,)12.5 ( and)12.5 ( has)12.5 ( green)12.6 ( energy)12.6 ( travel)12.5 ( consumption)12.6 ( venues)12.6 ( for)12.6 ( end)12.6 ( users)12.5 (.)12.6 ( With)20 ( )]TJ 0.043 Tc 0 -1.231 Td [(the)12.2 ( acquisition)12.2 ( of)12.2 ( YS)12.2 ( Energy)12.2 ( Company)12.2 (,)12.2 ( the)12.2 ( Group)12.2 ( can)12.2 ( apply)12.2 ( the)12.2 ( photovoltaic)18 ( )]TJ 0.048 Tc 0 -1.231 Td [(equipment)12.6 ( of)12.6 ( YS)12.6 ( Energy)12.6 ( Company)12.6 ( to)12.6 ( the)12.6 ( land)12.6 ( resources)12.6 ( on)12.6 ( both)12.6 ( sides)12.6 ( of)12.7 ( the)23 ( )]TJ 0.025 Tc 0.068 Tw 0 -1.231 Td (expressways, the existing service areas, toll stations, etc. of the Grou\ p to further )Tj 0.058 Tc 0.07 Tw 0 -1.231 Td [(increase)12.2 ( coverage)12.3 ( of)12.2 ( photovoltaic)12.2 ( applications)12.3 ( in)12.3 ( expressway)12.3 ( service)12.3 ( areas)12.2 (,)33 ( )]TJ 0.03 Tc 0.078 Tw 0 -1.231 Td [(toll)5 ( )0.5 (stations)5 (,)5 ( )0.5 (and)5 ( )0.5 (inter)5 (-)5 (change)5.1 ( )0.5 (areas)5 ( )0.5 (by)5 ( )0.5 (YS)5 ( )0.5 (Energy)5 ( )0.5 (Company)5 (.)5 ( )0.5 (At)5 ( )0.5 (the)5.1 ( )0.5 (same)5 ( )0.5 (time)5 (,)5 ( )]TJ 0.025 Tc 0.004 Tw 0 -1.231 Td (Jiangsu Yangtze Commerce and Energy Co., Ltd.)Tj 0 Tc 0 Tw 7.579 0 0 7.579 358.1091 173.5179 Tm (#)Tj 13 0 0 13 362.088 168.3179 Tm ( )Tj /C0_0 1 Tf 0.025 Tc -0.025 Tw 0.279 0 Td <03EA163D069703EA0A200E3809900E5503DE082202AE0321>Tj /T1_0 1 Tf 0.004 Tw (, a )Tj 0.012 Tw -21.59 -1.231 Td (subsidiary of the Company, with brand operation capabilities and rich ex\ perience, )Tj 0.06 Tc 0.07 Tw 0 -1.231 Td [(using)12.1 ( the)12.2 ( influence)12.2 ( of)12.2 ( the)12.2 ( Group)12.2 ( to)12.2 ( develop)12.2 ( new)12.2 ( business)12.2 ( areas)12.1 (,)12.2 ( will)12.1 ( assist)35 ( )]TJ 0.04 Tc 0 -1.231 Td [(YS)12.8 ( Energy)12.8 ( Company)12.7 ( to)12.8 ( rapidly)12.8 ( expand)12.7 ( its)12.8 ( business)12.8 ( scale)12.8 ( and)12.8 ( brand)12.7 ( influence)12.7 (,)15 ( )]TJ 0.046 Tc 0 -1.231 Td [(jointly)12.2 ( build)12.3 ( a)12.3 ( comprehensive)12.2 ( transportation)12.2 ( clean)12.3 ( energy)12.2 ( service)12.3 ( center)12.2 ( with)21 ( )]TJ 0.025 Tc 0.019 Tw 0 -1.231 Td [(national influence, )0.5 (improve resource )0.5 (utilization )0.5 (efficiency )0.5 (and economic benefits. )]TJ 0.028 Tc 0.08 Tw 0 -1.231 Td [(Furthermore)3 (,)3 ( )0.5 (the)3 ( )0.5 (Company)3 ( )0.5 (has)3 ( )0.5 (the)3 ( )0.5 (advantages)3 ( )0.5 (of)3 ( )0.5 (good)3 ( )0.5 (credit)3 ( )0.5 (and)3 ( )0.5 (low)3 ( )0.5 (financing)3 ( )]TJ ET endstream endobj 110 0 obj <>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 29 \226)Tj ET q 0 Tc 0 g /GS1 gs 0 TL/Fm0 Do Q BT /T1_1 1 Tf 13 0 0 13 56.6929 776.409 Tm [(IV. )-469.5 (REASONS AND BENEFITS OF THE TRANSACTION)]TJ /T1_0 1 Tf 0.06 Tc 0.07 Tw 2.181 -2.462 Td [(The)12.6 ( implementation)12.7 ( of)12.7 ( this)12.6 ( transaction)12.6 ( is)12.7 ( mainly)12.6 ( a)12.7 ( focus)12.7 ( of)12.7 ( the)12.7 ( Company)12.6 (\222)12.7 (s)35 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (strategic interest and commercial benefits.)Tj /T1_1 1 Tf 0.045 Tc 0.07 Tw 0 -2.462 Td [(F)0.5 (i)0.5 (rs)0.5 (t)0.5 (l)0.5 (y)13 (,)12.9 ( )0.5 (i)0.5 (s)13 ( )0.5 (to)13 ( )0.5 (r)0.5 (e)0.5 (sp)0.5 (o)0.5 (n)0.5 (d)13 ( t)0.5 (o)13 ( )0.5 (na)0.5 (t)0.5 (i)0.5 (on)0.5 (a)0.5 (l)13 ( )0.5 (po)0.5 (l)0.5 (i)0.5 (ci)0.5 (e)0.5 (s)13 (,)13 ( r)0.5 (e)0.5 (o)0.5 (r)0.5 (g)0.5 (an)0.5 (i)0.5 (z)0.5 (e)13 ( )0.5 (re)0.5 (s)0.5 (o)0.5 (u)0.5 (r)0.5 (ce)0.5 (s)13 ( )0.5 (a)0.5 (nd)13 ( )0.5 (i)0.5 (nv)0.5 (e)0.5 (s)0.5 (t)20 ( )]TJ 0.025 Tc 0.081 Tw 0 -1.231 Td [(in the clean )0.5 (energy industry.)]TJ /T1_0 1 Tf [( On 27 December 2016, )0.5 (the General Office of the )]TJ 0.052 Tc 0.07 Tw 0 -1.231 Td [(Central)12.8 ( Committee)12.7 ( of)12.7 ( the)12.8 ( Communist)12.7 ( Party)12.7 ( of)12.7 ( China)12.7 ( and)12.8 ( the)12.7 ( General)12.7 ( Office)27 ( )]TJ 0.054 Tc 0 -1.231 Td [(of)12.2 ( the)12.2 ( State)12.2 ( Council)12.2 ( jointly)12.2 ( issued)12.2 ( the)12.2 ( \223)12.2 (Guiding)12.2 ( Opinions)12.2 ( on)12.2 ( Innovating)12.2 ( the)29 ( )]TJ 0 -1.231 Td [(Government)12.6 (\222)12.7 (s)12.7 ( Resource)12.7 ( Allocation)12.7 (\224)12.6 (,)12.7 ( encouraging)12.7 ( state)12.7 (-)12.7 (owned)12.7 ( enterprises)12.7 ( to)29 ( )]TJ 0.026 Tc 0.082 Tw 0 -1.231 Td [(op)0.5 (timi)0.5 (ze)1 ( )0.5 (a)0.5 (nd)1 ( )0.5 (st)0.5 (re)0.5 (ngth)0.5 (en)1 ( )0.5 (li)0.5 (ste)0.5 (d)1 ( )0.5 (co)0.5 (mpa)0.5 (nie)0.5 (s)1 ( )0.5 (thr)0.5 (ough)1 ( )0.5 (a)0.5 (ss)0.5 (et)1 ( )0.5 (in)0.5 (jec)0.5 (tio)0.5 (n)1 (,)1 ( )0.5 (and)1 ( )0.5 (e)0.5 (nc)0.5 (our)0.5 (age)1 ( )]TJ 0.059 Tc 0.07 Tw 0 -1.231 Td [(state)12.8 (-)12.7 (controlled)12.7 ( listed)12.8 ( companies)12.8 ( to)12.7 ( allocate)12.8 ( resources)12.7 ( through)12.8 ( mergers)12.8 ( and)34 ( )]TJ 0.053 Tc 0 -1.231 Td [(r)0.5 (e)0.5 (o)0.5 (r)0.5 (ga)0.5 (n)0.5 (i)0.5 (z)0.5 (a)0.5 (t)0.5 (i)0.5 (o)0.5 (ns)13 (.)13 ( )0.5 (T)0.5 (h)0.5 (e)13 ( )0.5 (C)0.5 (om)0.5 (p)0.5 (a)0.5 (n)0.5 (y)13 ( )0.5 (h)0.5 (as)13 ( )0.5 (a)0.5 (l)0.5 (s)0.5 (o)13 ( )0.5 (b)0.5 (ee)0.6 (n)12.9 ( )0.5 (p)0.5 (a)0.5 (y)0.5 (i)0.5 (n)0.5 (g)12.9 ( )0.5 (a)0.5 (t)0.5 (t)0.5 (e)0.5 (n)0.5 (t)0.5 (io)0.5 (n)13 ( )0.5 (t)0.5 (o)13 ( )0.5 (re)0.5 (s)0.5 (e)0.5 (a)0.5 (r)0.5 (c)0.5 (h)0.5 (i)0.5 (n)0.5 (g)28 ( )]TJ 0.025 Tc 0.001 Tw 0 -1.231 Td (investment opportunities in order to strengthen the integration of resou\ rces, adjust )Tj 0 -1.231 Td (and optimize the industrial layout structure of the Group, and improve t\ he quality, )Tj 0 Tw 0 -1.231 Td (efficiency and sustainable development capability of development.)Tj 0.054 Tc 0.07 Tw 0 -2.462 Td [(On)12.1 ( 2)12.1 (2)12.1 ( September)12.1 ( 2)12.1 (0)12.2 (2)12.1 (0)12.1 (,)12.1 ( President)12.1 ( Xi)12.2 ( Jinping)12.1 ( proposed)12.2 ( the)12.1 ( goal)12.1 ( of)12.1 ( \223)12.2 (strive)12.2 ( to)29 ( )]TJ 0.039 Tc 0 -1.231 Td [(peak)12.8 ( carbon)12.9 ( dioxide)12.9 ( emissions)12.9 ( by)12.9 ( 2)12.9 (0)12.8 (3)12.9 (0)12.8 ( and)12.9 ( strive)12.9 ( to)12.9 ( achieve)12.9 ( carbon)12.9 ( neutrality)14 ( )]TJ 0.043 Tc 0 -1.231 Td [(by)12.4 ( 2)12.4 (0)12.4 (6)12.5 (0)12.4 (\224)12.5 ( at)12.5 ( the)12.5 ( 7)12.5 (5)12.4 (th)12.4 ( United)12.4 ( Nations)12.4 ( General)12.5 ( Assembly)12.5 (.)12.4 ( On)12.5 ( 1)12.5 (1)12.4 ( May)12.4 ( 2)12.4 (0)12.5 (2)12.4 (1)12.5 (,)12.4 ( the)18 ( )]TJ 0.064 Tc 0 -1.231 Td [(National)12.2 ( Energy)12.2 ( Administration)12.2 ( issued)12.2 ( the)12.2 ( \223)12.3 (Notice)12.2 ( on)12.2 ( Matters)12.2 ( Concerning)39 ( )]TJ 0.044 Tc 0 -1.231 Td [(the)12.2 ( Development)12.2 ( and)12.2 ( Construction)12.2 ( of)12.2 ( Wind)12.1 ( Power)12.2 ( and)12.1 ( Photovoltaic)12.2 ( Power)12.2 ( in)19 ( )]TJ 0.052 Tc 0 -1.231 Td [(2)12.6 (0)12.5 (2)12.6 (1)12.6 (\224)12.5 (,)12.6 ( stating)12.6 ( that)12.5 ( in)12.6 ( 2)12.6 (0)12.6 (2)12.5 (1)12.6 (,)12.6 ( the)12.6 ( national)12.6 ( wind)12.6 ( power)12.6 ( and)12.6 ( photovoltaic)12.6 ( power)27 ( )]TJ 0.043 Tc 0 -1.231 Td [(generation)12.8 ( would)12.8 ( account)12.8 ( for)12.8 ( about)12.7 ( 1)12.7 (1)12.8 (%)12.8 ( of)12.8 ( the)12.9 ( electricity)12.8 ( consumption)12.8 ( of)12.8 ( the)18 ( )]TJ 0.042 Tc 0 -1.231 Td [(whole)12.1 ( society)12 (,)12.1 ( with)12 ( increases)12.1 ( to)12.1 ( follow)12.1 ( year)12.1 ( by)12.1 ( year)12.1 (,)12.1 ( to)12 ( ensure)12 ( that)12.1 ( non)12.1 (-)12.1 (fossil)17 ( )]TJ 0.034 Tc 0.074 Tw 0 -1.231 Td [(energy)9 ( )0.5 (consumption)9 ( )0.5 (accounts)9 ( )0.5 (for)9 ( )0.5 (about)9 ( )0.5 (2)9 (0)9 (%)9 ( )0.5 (of)9 ( )0.5 (primary)9 ( )0.5 (energy)9 ( )0.5 (consumption)9 ( )0.5 (in)8.9 ( )]TJ 0.025 Tc 0.036 Tw 0 -1.231 Td (2025. Non-fossil energy will still have great market potential. By condu\ cting this )Tj 0.071 Tw 0 -1.231 Td [(transaction )0.5 (to )0.5 (invest )0.5 (in )0.5 (the )0.5 (field )0.5 (of )0.5 (clean )0.6 (energy, )0.6 (the )0.5 (Company )0.5 (will )0.5 (comply )0.6 (with )]TJ 0 Tw 0 -1.231 Td (the world and national power generation requirements and meet market dem\ and.)Tj /T1_1 1 Tf 0.039 Tc 0.07 Tw 0 -2.462 Td [(S)0.5 (e)0.5 (c)0.5 (o)0.5 (n)0.5 (d)0.5 (l)0.5 (y)13 (,)13 ( i)0.5 (s)13 ( )0.5 (t)0.5 (o)13 ( )0.5 (a)0.5 (c)0.5 (t)0.5 (i)0.5 (v)0.5 (e)0.5 (l)0.5 (y)13 ( )0.5 (i)0.5 (m)0.5 (p)0.5 (l)0.5 (e)0.5 (m)0.5 (e)0.5 (n)0.5 (t)13 ( )0.5 (t)0.5 (h)0.5 (e)13 ( )0.5 (s)0.5 (t)0.5 (r)0.5 (a)0.5 (t)0.5 (e)0.5 (g)0.5 (y)13 ( )0.5 (o)0.5 (f)12.9 ( )0.5 (\223)13 (c)0.6 (ar)0.5 (b)0.5 (o)0.5 (n)13 ( )0.5 (d)0.5 (i)0.5 (o)0.5 (x)0.5 (i)0.5 (d)0.5 (e)13 ( )0.5 (p)0.5 (e)0.5 (a)0.5 (ki)0.5 (n)0.5 (g)14 ( )]TJ 0.031 Tc 0.077 Tw 0 -1.231 Td [(and)6 ( )0.5 (carbon)6 ( )0.6 (neutrality)6 (\224)6 ( )0.5 (and)6 ( )0.5 (fulfill)6 ( )0.5 (social)6 ( )0.5 (responsibilities)6 (.)]TJ /T1_0 1 Tf 26.029 0 Td [( )0.5 (In)6 ( )0.5 (September)6 ( )0.5 (2)6 (0)6 (2)6 (1)6 (,)6 ( )]TJ 0.036 Tc 0.072 Tw -26.029 -1.231 Td [(the)11 ( )0.5 (Central)11 ( )0.5 (Committee)11 ( )0.5 (of)11 ( )0.5 (the)11 ( )0.5 (Communist)11 ( )0.5 (Party)11 ( )0.5 (of)11 ( )0.5 (China)11 ( )0.5 (and)11 ( )0.5 (the)11 ( )0.5 (State)11 ( )0.5 (Council)11 ( )]TJ 0.066 Tc 0.07 Tw 0 -1.231 Td [(jointly)12.2 ( released)12.2 ( a)12.2 ( document)12.3 ( titled)12.2 ( \223)12.3 (Working)12.2 ( Guidance)12.2 ( for)12.3 ( Carbon)12.3 ( Dioxide)41 ( )]TJ 0.033 Tc 0.075 Tw 0 -1.231 Td [(Peaking)8 ( )0.5 (and)8.1 ( )0.5 (Carbon)8 ( )0.5 (Neutrality)8 ( )0.5 (in)8 ( )0.5 (Full)8 ( )0.5 (and)8.1 ( Faithful)8 ( )0.5 (Implementation)8 ( )0.5 (of)8 ( )0.5 (the)8 ( )0.5 (New)8 ( )]TJ 0.025 Tc 0.061 Tw 0 -1.231 Td (Development Philosophy\224 proposing to ensure the realization of \223ca\ rbon dioxide )Tj 0.053 Tw 0 -1.231 Td (peaking and carbon neutrality\224 as scheduled. Wind energy and solar en\ ergy have )Tj 0.006 Tw 0 -1.231 Td (developed rapidly in recent years, technological innovation has continue\ d to drive )Tj 0.001 Tw 0 -1.231 Td (down the cost of power generation, and the proportion of clean energy in\ stallation )Tj 0.026 Tc 0.082 Tw 0 -1.231 Td [(capacity)1 ( )0.5 (has)1 ( )0.5 (continued)1 ( )0.5 (to)1 ( )0.5 (increase)1 (.)1 ( )0.5 (It)1 ( )0.6 (is)1 ( )0.5 (expected)1 ( )0.5 (to)1 ( )0.5 (maintain)1 ( )0.6 (rapid)1 ( )0.5 (growth)1 ( )0.5 (for)1 ( )0.5 (a)1 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (relatively longer period in the future.)Tj ET endstream endobj 109 0 obj <>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 28 \226)Tj ET q 0 Tc 0 g /GS1 gs 0 TL/Fm0 Do Q BT 0.092 Tc 0.07 Tw 13 0 0 13 113.3858 776.3179 Tm [(\225)67 ( )-1393.5 (T)0.5 (he)0.5 (re)13 ( w)0.5 (i)0.5 (ll)13 ( b)0.5 (e)12.9 ( )0.5 (no)13 ( c)0.5 (h)0.5 (an)0.5 (ge)13 ( i)0.5 (n)12.9 ( )0.5 (g)0.5 (ov)0.5 (er)0.5 (nm)0.5 (en)0.5 (t)12.9 ( )0.5 (po)0.5 (li)0.5 (c)0.5 (y)12.9 ( )0.5 (th)0.5 (at)13 ( t)0.5 (he)13 ( )0.5 (Ta)0.5 (rg)0.5 (et)67 ( )]TJ 0.025 Tc 0.033 Tw 2.181 -1.231 Td (Company\222s solar power plants will be eligible for subsidy if they rea\ ch )Tj 0 Tw 0 -1.231 Td (22,000 usable hours or reasonable useful life of 20 years;)Tj 0.092 Tc 0.07 Tw -2.181 -2.462 Td [(\225)67 ( )-1393.5 (T)0.5 (he)0.5 (re)13 ( w)0.5 (i)0.5 (ll)13 ( b)0.5 (e)12.9 ( )0.5 (no)13 ( c)0.5 (h)0.5 (an)0.5 (ge)13 ( i)0.5 (n)12.9 ( )0.5 (g)0.5 (ov)0.5 (er)0.5 (nm)0.5 (en)0.5 (t)12.9 ( )0.5 (po)0.5 (li)0.5 (c)0.5 (y)12.9 ( )0.5 (th)0.5 (at)13 ( t)0.5 (he)13 ( )0.5 (Ta)0.5 (rg)0.5 (et)67 ( )]TJ 0.025 Tc 0.048 Tw 2.181 -1.231 Td (Company\222s Rudong wind farm will be eligible for subsidy if it reaches\ )Tj 0 Tw 0 -1.231 Td (52,000 usable hours throughout its life cycle; and)Tj 0.084 Tc 0.07 Tw -2.181 -2.462 Td [(\225)59 ( )-1401.5 (Government)12.4 ( subsidy)12.4 ( receivable)12.4 ( collection)12.4 ( period)12.4 ( of)12.3 ( the)12.4 ( Target)59 ( )]TJ 0.026 Tc 0.082 Tw 2.181 -1.231 Td [(Com)0.5 (pany)1 (\222)1 (s)1 ( )0.5 (w)0.5 (ind)1 ( )0.5 (far)0.5 (m)1 ( )0.5 (and)1 ( )0.5 (so)0.5 (lar)1 ( )0.5 (pow)0.5 (er)1 ( )0.5 (pla)0.5 (nts)1 ( )0.5 (wi)0.5 (ll)1 ( )0.5 (be)1 ( )0.5 (app)0.5 (roxima)0.5 (tely)1 ( )0.5 (2)1 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (years and 3 years, respectively.)Tj /T1_1 1 Tf -0.025 Tw -2.181 -2.462 Td (Confirmation)Tj /T1_0 1 Tf 0.038 Tc 0.07 Tw 0 -2.462 Td [(KPMG)12.5 ( Huazhen)12.5 ( LLP)12.5 (,)12.5 ( the)12.5 ( Company)12.5 (\222)12.5 (s)12.5 ( reporting)12.5 ( accountants)12.5 (,)12.5 ( was)12.5 ( engaged)13 ( )]TJ 0.028 Tc 0.08 Tw 0 -1.231 Td [(to)3 ( )0.5 (re)0.5 (por)0.5 (t)3 ( )0.5 (on)3 ( )0.5 (the)3.1 ( )0.5 (cal)0.5 (cula)0.5 (tion)3 ( )0.6 (of)3 ( )0.5 (the)3 ( )0.6 (disc)0.5 (ount)0.5 (ed)3 ( )0.5 (fu)0.5 (ture)3 ( )0.6 (cas)0.5 (h)3 ( )0.5 (flow)0.5 (s)3 ( )0.5 (use)0.5 (d)3 ( )0.5 (in)3 ( )0.5 (th)0.5 (e)3 ( )]TJ 0.039 Tc 0.07 Tw 0 -1.231 Td [(Valuation)12.8 ( Report)12.8 (,)12.9 ( as)12.8 ( required)12.9 ( by)12.8 ( Rule)12.8 ( 1)12.8 (4)12.9 (.)12.8 (6)12.9 (2)12.8 (\()12.8 (2)12.9 (\))12.8 ( of)12.9 ( the)12.9 ( Hong)12.8 ( Kong)12.8 ( Listing)14 ( )]TJ 0.054 Tc 0 -1.231 Td [(Rules)12.9 (.)12.8 ( The)12.9 ( discounted)12.8 ( future)12.8 ( cash)12.8 ( flows)12.9 ( do)12.9 ( not)12.9 ( involve)12.8 ( the)12.9 ( adoption)12.9 ( of)29 ( )]TJ 0.025 Tc 0.043 Tw 0 -1.231 Td (accounting policies. So far as the calculations are concerned, the disco\ unted )Tj 0.042 Tc 0.07 Tw 0 -1.231 Td [(future)12.9 ( cash)12.9 ( flows)12.9 ( have)12.9 ( been)12.8 ( properly)12.8 ( compiled)12.9 ( in)12.9 ( all)12.8 ( material)12.9 ( respects)12.8 ( in)17 ( )]TJ 0.03 Tc 0.078 Tw 0 -1.231 Td [(accordance)5 ( )0.6 (with)5 ( )0.5 (the)5 ( )0.5 (bases)5 ( )0.5 (and)5.1 ( )0.5 (assumptions)5 ( )0.5 (adopted)5 ( )0.5 (by)5.1 ( )0.5 (the)5 ( )0.5 (directors)5.1 ( )0.5 (of)5 ( )0.5 (the)5 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (Company as set out in the Valuation Report.)Tj 0.048 Tc 0.07 Tw 0 -2.462 Td [(The)12.2 ( board)12.2 ( of)12.3 ( directors)12.2 ( of)12.2 ( the)12.2 ( Company)12.2 ( has)12.2 ( \()12.2 (i)12.2 (\))12.2 ( discussed)12.2 ( with)12.2 ( the)12.2 ( senior)23 ( )]TJ 0.025 Tc 0.006 Tw 0 -1.231 Td (management of YS Energy Company and Kroll on the basis and assumptions )Tj 0.025 Tw 0 -1.231 Td (of the discount cash flow valuation of YS Energy Company in the Valuatio\ n )Tj 0.056 Tc 0.07 Tw 0 -1.231 Td [(Report)12.1 (;)12.1 ( \()12.1 (ii)12.1 (\))12.1 ( reviewed)12.1 ( the)12.2 ( discount)12.1 ( cash)12.2 ( flow)12.2 ( valuation)12.2 ( as)12.1 ( set)12.1 ( out)12.1 ( in)12.1 ( the)31 ( )]TJ 0.079 Tc 0 -1.231 Td [(Valuation)12.1 ( Report)12.2 (;)12.1 ( and)12.2 ( \()12.2 (iii)12.2 (\))12.1 ( considered)12.1 ( the)12.2 ( report)12.2 ( from)12.2 ( the)12.1 ( reporting)54 ( )]TJ 0.04 Tc 0 -1.231 Td [(accountants)12.8 ( of)12.7 ( the)12.7 ( Company)12.7 (.)12.7 ( Based)12.7 ( on)12.8 ( the)12.8 ( above)12.7 ( basis)12.8 ( and)12.7 ( subject)12.7 ( to)12.7 ( the)15 ( )]TJ 0.025 Tc 0.025 Tw 0 -1.231 Td (assumptions set out above, the board of directors of the Company confirm\ ed )Tj 0.054 Tw 0 -1.231 Td (that the discount cash flow valuation as set out in the Valuation Report\ was )Tj 0 Tw 0 -1.231 Td (made after due and careful enquiry by the directors of the Company.)Tj 0.078 Tw 0 -2.462 Td (The Valuation Report, the report issued by the reporting accountants of \ the )Tj 0.02 Tc 0 Tw 0 -1.231 Td [(Company and the confirmation from the board of directors of the Company \ as)-4.9 ( )]TJ 0.025 Tc 0.035 Tw 0 -1.231 Td (required under Rules 14.62\(2\) and 14.62\(3\) of the Hong Kong Listing \ Rules )Tj 0 Tw 0 -1.231 Td (will be set out in the circular despatched to H Shareholders.)Tj ET endstream endobj 108 0 obj <>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 27 \226)Tj ET q 0 Tc 0 g /GS1 gs 0 TL/Fm0 Do Q BT 0.035 Tc 0.073 Tw 11 0 0 11 113.3858 777.6839 Tm [(*)10 ( )-1693.9 (Cost)10 ( )0.5 (approach)10 ( )0.5 (esta)0.5 (blishes)10 ( )0.5 (value)10 ( )0.5 (based)10 ( )0.5 (on)10 ( )0.5 (the)10 ( )0.5 (cost)10 ( )0.5 (of)10 ( )0.5 (reproducing)10 ( )0.5 (or)10 ( )0.5 (replacing)10 ( )0.5 (the)10 ( )]TJ 0.025 Tc 0.083 Tw 2.577 -1.273 Td [(property )0.5 (less )0.5 (depreciation )0.5 (from )0.5 (physical )0.5 (deterioration )0.5 (and )0.5 (functional )0.5 (and )0.5 (economic )]TJ 0.045 Tc 0.07 Tw 0 -1.273 Td [(obsolescence)12.3 (,)12.3 ( if)12.3 ( present)12.3 ( and)12.3 ( measurable)12.3 (.)12.4 ( This)12.3 ( approach)12.3 ( might)12.3 ( be)12.3 ( considered)12.3 ( the)20 ( )]TJ 0.024 Tc 0 Tw 0 -1.273 Td [(most consistently reliable indication of value for assets without a know\ n used market)-1 ( )]TJ 0.025 Tc 0 -1.273 Td (or separately identifiable cash flows attributable to assets appraised.)Tj 0.027 Tc 0.081 Tw 0 -2.545 Td [(Income)2 ( )0.5 (approach)2 ( )0.5 (is)2.1 ( the)2 ( )0.5 (conversion)2 ( )0.5 (of)2 ( )0.5 (expected)2 ( )0.5 (periodic)2 ( )0.5 (benefits)2 ( )0.5 (of)2 ( )0.5 (ownership)2 ( )0.5 (into)2 ( )]TJ 0.025 Tc 0.025 Tw 0 -1.273 Td (an indication of value. It is based on the principle that an informed bu\ yer would pay )Tj 0.031 Tc 0.077 Tw 0 -1.273 Td [(no)6 ( )0.5 (more)6 ( )0.5 (for)6.1 ( the)6.1 ( )0.5 (property)6 ( )0.5 (than)6 ( )0.5 (an)6 ( )0.5 (amount)6 ( )0.5 (equal)6.1 ( )0.5 (to)6 ( )0.5 (the)6 ( )0.5 (present)6 ( )0.5 (worth)6 ( )0.6 (of)6.1 ( )0.5 (anticipated)6 ( )]TJ 0.025 Tc 0 Tw 0 -1.273 Td (future benefits \(income\) from the same or equivalent property with sim\ ilar risk.)Tj 0.078 Tw 0 -2.545 Td (Market approach considers prices recently paid for similar assets, with \ adjustments )Tj 0.069 Tw 0 -1.273 Td (made to the indicated market prices to reflect condition and utility of \ the appraised )Tj 0.02 Tc 0 Tw 0 -1.273 Td [(assets relative to the market comparable. Assets for which there is an e\ stablished used)-5 ( )]TJ 0.025 Tc 0 -1.273 Td (market may be appraised by this approach.)Tj 0.049 Tc 0.07 Tw 13 0 0 13 113.3858 549.684 Tm [(Kroll)12.5 ( adopts)12.6 ( the)12.6 ( discount)12.5 ( cash)12.6 ( flow)12.6 ( method)12.5 ( in)12.6 ( the)12.5 ( income)12.5 ( approach)12.5 ( and)23.9 ( )]TJ 0.07 Tc 0 -1.231 Td [(based)12.8 ( on)12.9 ( certain)12.9 ( assumptions)12.8 ( to)12.9 ( evaluate)12.8 ( YS)12.8 ( Energy)12.8 ( Company)12.9 ( which)45 ( )]TJ 0.067 Tc 0 -1.231 Td [(constitutes)12.6 ( a)12.7 ( profit)12.6 ( forecast)12.6 ( under)12.6 ( Rule)12.6 ( 1)12.6 (4)12.6 (.)12.6 (6)12.7 (1)12.6 ( of)12.7 ( the)12.6 ( Rules)12.7 ( Governing)42 ( )]TJ 0.049 Tc 0 -1.231 Td [(the)12.7 ( Listing)12.7 ( of)12.7 ( Securities)12.7 ( on)12.6 ( The)12.7 ( Stock)12.7 ( Exchange)12.6 ( of)12.6 ( Hong)12.6 ( Kong)12.6 ( Limited)24 ( )]TJ 0.051 Tc 0 -1.231 Td [(\()12.9 (hereinafter)12.9 ( referred)12.9 ( to)12.9 ( as)12.9 ( the)12.9 ( \223)]TJ /T1_1 1 Tf 14.287 0 Td [(Hong)12.9 ( Kong)12.9 ( Listing)12.9 ( R)0.5 (ules)]TJ /T1_0 1 Tf 12.132 0 Td [(\224)12.9 (\))12.9 (.)12.9 ( Hence)12.9 (,)12.9 ( the)25.9 ( )]TJ 0.042 Tc -26.419 -1.231 Td [(req)0.5 (uirement)0.5 (s)12.9 ( of)12.9 ( R)0.5 (ules)12.9 ( 1)12.9 (4)13 (.)12.9 (6)12.9 (0)12.9 (A)12.9 ( an)0.5 (d)12.9 ( 1)12.9 (4)12.9 (.)12.9 (6)12.9 (2)12.9 ( of)13 ( the)12.9 ( H)0.5 (ong)12.9 ( Kon)0.5 (g)12.9 ( Listing)13 ( Rules)17 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.231 Td (apply.)Tj /T1_1 1 Tf 0 Tw 0 -2.462 Td (Key Assumptions)Tj /T1_0 1 Tf 0.034 Tc 0.074 Tw 0 -2.462 Td [(Due)9.1 ( )0.5 (to)9 ( )0.5 (the)9.1 ( )0.5 (changing)9 ( )0.5 (environments)9 ( )0.5 (in)9 ( )0.5 (which)8.9 ( )0.6 (YS)9 ( )0.5 (Energy)9 ( )0.5 (Company)9 (,)9 ( )0.5 (the)9 ( )0.5 (key)9 ( )]TJ 0.025 Tc 0.021 Tw 0 -1.231 Td (assumptions adopted by Kroll in the valuation of 100% equity interest in\ YS )Tj 0 Tw 0 -1.231 Td (Energy Company using the income approach are as follows:)Tj 0.08 Tc 0.07 Tw 0 -2.462 Td [(\225)55 ( )-1405.5 (no)12.8 ( major)12.8 ( changes)12.9 ( are)12.8 ( expected)12.8 ( in)12.8 ( political)12.9 (,)12.7 ( legal)12.9 ( and)12.8 ( economic)55 ( )]TJ 0.025 Tc 0 Tw 2.181 -1.231 Td (conditions in China;)Tj 0.103 Tc 0.07 Tw -2.181 -2.462 Td [(\225)78 ( )-1382.5 (regulatory)12.8 ( environment)12.8 ( and)12.8 ( market)12.8 ( conditions)12.8 ( for)12.8 ( renewable)78 ( )]TJ 0.056 Tc 2.181 -1.231 Td [(energy)12.7 ( industry)12.7 ( will)12.7 ( be)12.7 ( developing)12.7 ( according)12.7 ( to)12.7 ( prevailing)12.7 ( market)31 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.231 Td (expectations;)Tj 0.026 Tw -2.181 -2.462 Td [(\225 )-1504.5 (there will be no major changes in the current taxation law applicable to\ )]TJ 0 Tw 2.181 -1.231 Td (renewable energy industry;)Tj -2.181 -2.462 Td [(\225 )-1530.5 (Target Company will not be constrained by the availability of finance;)]TJ 0.031 Tw 0 -2.462 Td [(\225 )-1499.5 (the future movement of exchange rates and interest rates will not differ\ )]TJ 0 Tw 2.181 -1.231 Td (materially from prevailing market expectations;)Tj 0.034 Tw -2.181 -2.462 Td [(\225 )-1496.5 (Target )0.5 (Company )0.5 (will retain competent management, )0.5 (key )0.5 (personnel )0.5 (and )]TJ 0 Tw 2.181 -1.231 Td (technical staff to support their ongoing operations;)Tj ET endstream endobj 107 0 obj <>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 26 \226)Tj ET q 0 Tc 0 g /GS1 gs 0 TL/Fm0 Do Q BT 13 0 0 13 141.7323 770.8479 Tm (Grid-connected Date)Tj 14.173 0 Td (29 June 2018)Tj -14.173 -2.462 Td (On-grid Electricity Price)Tj -0.025 Tw 14.173 0 Td (RMB0.3910/kWh)Tj 0 Tw -14.173 -2.462 Td (Subsidized Electricity Price)Tj 14.173 0 Td (RMB0 0.4590/kWh)Tj -14.173 -2.462 Td (Electricity Business licence)Tj -0.025 Tw 14.173 0 Td (Granted)Tj 0 Tw -14.173 -2.462 Td (Project Operation Period)Tj 14.173 0 Td (25 years)Tj 0.063 Tc 0.07 Tw -16.354 -2.335 Td [(As)12.1 ( at)12.1 ( 2)12.1 (8)12 ( April)12 ( 2)12.1 (0)12.1 (2)12 (2)12.1 (,)12.1 ( the)12.1 ( power)12.1 ( stations)12.1 ( of)12 ( Target)12.1 ( Group)12.1 ( have)12.1 ( been)12.1 ( in)38 ( )]TJ 0.025 Tc 0.045 Tw 0 -1.231 Td (operation for a total of 2,100 days and 1,275 million kWh, the green ene\ rgy )Tj 0.03 Tc 0.078 Tw 0 -1.231 Td [(electricity)5 ( )0.5 (generation)5 ( )0.5 (has)5 ( )0.5 (saved)5 ( )0.5 (the)5 ( )0.5 (usage)5 ( )0.5 (of)5 ( )0.5 (3)5 (8)5 (7)5 (,)5 (6)5 (0)5 (0)5 ( )0.5 (tons)5 ( )0.5 (of)5.1 ( )0.5 (standard)4.9 ( )0.5 (coal)5 ( )]TJ 0.029 Tc 0.079 Tw 0 -1.231 Td [(and)4 ( )0.5 (reduced)4 ( )0.5 (emissions)4.1 ( )0.5 (of)4 ( )0.5 (1)4 (,)4 (0)4.1 (6)4 (1)4 (,)4 (0)4 (0)4 (0)4 ( )0.5 (tons)4 ( )0.5 (of)4.1 ( )0.5 (carbon)4 ( )0.5 (dioxide)4 (,)4 ( )0.5 (3)4 (7)4 (,)4 (6)4 (0)4 (0)4 ( )0.5 (tons)4 ( )0.5 (of)4 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (sulfur dioxide, and 18,800 tons of nitrogen oxides.)Tj /T1_1 1 Tf -2.18 -2.462 Td [(4. )-1105.5 (Valuation Report)]TJ /T1_0 1 Tf 0.032 Tc 0.076 Tw 2.18 -2.462 Td [(The)7 ( )0.5 (Company)7 ( )0.5 (appointed)7 ( )0.5 (Kroll)7 (,)7 ( )0.5 (an)7 ( )0.5 (independent)7 ( )0.5 (valuation)7.1 ( )0.5 (agency)7 (,)7 ( )0.5 (to)7 ( )0.5 (assess)7 ( )]TJ 0.042 Tc 0.07 Tw 0 -1.231 Td [(the)12.5 ( value)12.4 ( of)12.4 ( the)12.5 ( Target)12.5 ( Equity)12.5 ( in)12.5 ( accordance)12.5 ( with)12.5 ( international)12.4 ( standards)17.1 ( )]TJ 0.025 Tc 0.021 Tw 0 -1.231 Td (and requirements. The preliminary assessment of the fair value of the Ta\ rget )Tj 0.039 Tc 0.07 Tw 0 -1.231 Td [(Equity)12.4 ( as)12.4 ( of)12.4 ( the)12.5 ( Valuation)12.5 ( Date)12.5 ( was)12.5 ( RMB)12.4 (2)12.5 (,)12.4 (3)12.5 (5)12.4 (5)12.5 ( million)12.5 (,)12.4 ( which)12.5 ( is)12.5 ( slightly)14 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (higher than the appraised value in the State-owned Asset Valuation Repor\ t.)Tj 0.068 Tc 0.07 Tw 0 -2.462 Td [(To)12.5 ( develop)12.5 ( its)12.5 ( opinion)12.5 ( of)12.6 ( value)12.5 (,)12.5 ( Kroll)12.5 ( has)12.5 ( considered)12.6 ( three)12.5 ( generally)42.9 ( )]TJ 0.037 Tc 0.071 Tw 0 -1.231 Td [(accepted)12 ( )0.5 (approaches)12 ( )0.5 (to)12 ( )0.5 (value)12 (:)12 ( )0.5 (cost)12 (,)12 ( )0.5 (market)12 ( )0.5 (and)12 ( )0.5 (income)12 (*)12 (.)12 ( )0.5 (While)12 ( )0.5 (useful)12 ( )0.5 (for)12 ( )]TJ 0.039 Tc 0.07 Tw 0 -1.231 Td [(certain)12.9 ( purposes)12.8 (,)12.9 ( the)12.9 ( cost)12.9 ( approach)12.9 ( is)12.9 ( generally)12.9 ( not)12.8 ( considered)12.8 ( applicable)14 ( )]TJ 0.038 Tc 0 -1.231 Td [(to)12.5 ( the)12.5 ( valuation)12.5 ( of)12.5 ( a)12.5 ( going)12.5 ( concern)12.6 ( business)12.5 (,)12.5 ( as)12.5 ( it)12.5 ( does)12.5 ( not)12.5 ( capture)12.5 ( future)13 ( )]TJ 0.028 Tc 0.08 Tw 0 -1.231 Td [(earning)3 ( )0.5 (potential)3 ( )0.5 (of)3 ( the)3 ( )0.5 (business)3 (.)3 ( )0.5 (Thus)3 (,)3 ( )0.5 (cost)3 ( )0.5 (approach)3 ( )0.5 (is)3 ( )0.5 (not)3 ( )0.5 (utilized)3 ( )0.5 (in)3 ( )0.5 (the)3 ( )]TJ 0.033 Tc 0.075 Tw 0 -1.231 Td [(valuation)8 (.)8.1 ( Kroll)8 ( )0.5 (has)8 ( )0.5 (searched)8 ( )0.5 (for)7.9 ( )0.6 (publicly)8 ( )0.5 (listed)8 ( )0.5 (companies)8 ( )0.5 (for)8 ( )0.5 (application)8 ( )]TJ 0.025 Tc 0.015 Tw 0 -1.231 Td (of guideline companies approach but no companies are similar to YS Energ\ y )Tj 0.029 Tc 0.079 Tw 0 -1.231 Td [(Company)4 ( )0.5 (in)4 ( )0.6 (all)4 ( )0.5 (aspects)4.1 (.)4 ( )0.5 (In)4 ( )0.5 (particular)4 (,)4 ( )0.5 (one)4 ( )0.6 (of)4 ( )0.5 (YS)4 ( )0.5 (Energy)4 ( )0.5 (Company)4 (\222)4 (s)4 ( )0.5 (major)4 ( )]TJ 0.024 Tc 0 Tw 0 -1.231 Td [(wind power project, Jiangsu Rudong H5# offshore wind farm, just complete\ d)-1 ( )]TJ 0.056 Tc 0.07 Tw 0 -1.231 Td [(installa)0.5 (tion)12.9 ( of)12.9 ( a)0.5 (ll)12.9 ( wind)12.9 ( turbi)0.5 (nes)12.9 ( in)12.9 ( O)0.5 (ctober)12.9 ( 2)12.9 (0)12.9 (2)13 (1)12.9 ( and)12.9 ( henc)0.5 (e)12.9 ( its)12.9 ( sta)0.5 (ge)12.9 ( of)31 ( )]TJ 0.068 Tc 0 -1.231 Td [(commerci)0.5 (al)12.9 ( operation)12.9 ( might)12.9 ( dif)0.5 (fe)0.5 (r)12.9 ( from)12.9 ( other)12.9 ( pub)0.5 (lic)0.5 (ly)12.9 ( listed)12.9 ( Chinese)43 ( )]TJ 0.029 Tc 0.079 Tw 0 -1.231 Td [(renewable)4 ( )0.5 (energy)4 ( )0.5 (companies)4 (.)4 ( )0.5 (In)4 ( )0.5 (view)4 ( )0.5 (of)4 ( )0.5 (the)4 ( )0.5 (above)4 (,)4 ( )0.5 (in)4 ( )0.5 (forming)4 ( )0.5 (its)4 ( )0.5 (opinion)4 (,)4 ( )]TJ 0.045 Tc 0.07 Tw 0 -1.231 Td [(Kroll)12.8 ( relies)12.8 ( upon)12.8 ( the)12.8 ( income)12.8 ( approach)12.8 ( as)12.9 ( primary)12.8 ( approach)12.8 ( to)12.8 ( determine)20 ( )]TJ 0.049 Tc 0 -1.231 Td [(the)12.2 ( business)12.2 ( enterprise)12.2 ( value)12.2 ( of)12.2 ( YS)12.2 ( Energy)12.2 ( Company)12.2 ( and)12.2 ( use)12.2 ( Guideline)24 ( )]TJ 0.033 Tc 0.075 Tw 0 -1.231 Td [(Transaction)8 ( )0.5 (Method)8 ( )0.5 (\()8 (GTM)8.1 (\))8 ( )0.5 (under)8 ( )0.6 (market)8.1 ( approach)8 ( )0.5 (as)8 ( )0.5 (secondary)8 ( )0.5 (approach)8 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (for cross check.)Tj ET endstream endobj 38 0 obj </LastModified/NumberOfPageItemsInPage 2/NumberofPages 1/OriginalDocumentID/PageItemUIDToLocationDataMap<>/PageTransformationMatrixList<>/PageUIDList<>/PageWidthList<>>>>>/Resources<>/Font<>/ProcSet[/PDF/Text]/XObject<>>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page>> endobj 39 0 obj </LastModified/NumberOfPageItemsInPage 2/NumberofPages 1/OriginalDocumentID/PageItemUIDToLocationDataMap<>/PageTransformationMatrixList<>/PageUIDList<>/PageWidthList<>>>>>/Resources<>/Font<>/ProcSet[/PDF/Text]/XObject<>>>/TrimBox[0.0 0.0 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\226)Tj ET q 0 Tc 0 g /GS1 gs 0 TL/Fm0 Do Q BT /T1_1 1 Tf 0.079 Tc 0.07 Tw 13 0 3.4833 13 112.0517 776.409 Tm [(\()54 (3)54 (\))54 ( )-540.5 (Photovoltaic)12.8 ( power)12.9 ( station)12.9 ( in)12.9 ( which)12.9 ( the)12.9 ( Target)12.9 ( Group)12.8 ( has)12.8 ( a)54 ( )]TJ 0.048 Tc 2.51 -1.231 Td [(c)0.6 (o)0.5 (n)0.6 (t)0.6 (r)0.5 (o)0.6 (l)0.5 (l)0.6 (i)0.6 (n)0.5 (g)13.1 ( )0.5 (i)0.6 (n)0.6 (t)0.5 (e)0.6 (r)0.5 (e)0.6 (s)0.6 (t)13 ( )0.6 (\226)13.1 ( )0.5 (P)0.6 (h)0.6 (o)0.5 (t)0.6 (o)0.5 (v)0.6 (o)0.5 (l)0.6 (t)0.6 (a)0.5 (i)0.6 (c)13.1 ( )0.5 (p)0.6 (r)0.6 (o)0.5 (j)0.6 (e)0.6 (c)0.5 (t)13.1 ( )0.6 (i)0.5 (n)13.1 ( )0.5 (B)0.6 (u)0.6 (f)0.5 (e)0.6 (n)0.5 (g)13.1 ( )0.6 (T)0.5 (o)0.6 (w)0.6 (n)13 (,)13.1 ( )0.5 (Y)0.6 (a)0.6 (n)23 ( )]TJ 0.025 Tc 0 Tw 0.33 -1.231 Td (City, Jiangsu Province)Tj /T1_0 1 Tf 13 0 0 13 141.7323 712.409 Tm (Project Company Name)Tj 0.091 Tc 0.07 Tw 14.173 0 Td [(Yancheng)12.8 ( Yuanshan)12.8 ( Photovoltaic)66 ( )]TJ 0.025 Tc 0 Tw 1.09 -1.231 Td (Power Company, Limited)Tj -15.263 -2.462 Td (Type of Project)Tj 14.173 0 Td (Ground Photovoltaic)Tj -14.173 -2.462 Td (Site of Construction)Tj 0.038 Tw 14.173 0 Td (Yancheng Development Zone, Bufeng )Tj 0 Tw 1.09 -1.231 Td (Town, Yancheng, Jiangsu)Tj -15.263 -2.462 Td (Mode of Power Generation)Tj 14.173 0 Td (All electricity connected to grid)Tj -14.173 -2.462 Td (Estimated Investment Amount)Tj 14.173 0 Td (RMB181.54 million)Tj -14.173 -2.462 Td (Capital Ratio)Tj 14.173 0 Td (Capital ratio 30%)Tj 0 -2.462 Td (Loan financing ratio 75%)Tj -14.173 -2.462 Td (Project Final Accounts)Tj 14.173 0 Td (RMB55.36 million)Tj -14.173 -2.462 Td (Filed Capacity)Tj 14.173 0 Td (26 MW)Tj -14.173 -2.462 Td (Installed Capacity)Tj 14.173 0 Td (26 MW)Tj -14.173 -2.462 Td (Progress of Work)Tj -0.025 Tw 14.173 0 Td (Grid-connected)Tj 0 Tw -14.173 -2.462 Td (Project Overview)Tj 0.137 Tc 0.07 Tw 14.173 0 Td [(The)12.1 ( single)12.1 (-)12.1 (unit)12 ( rated)12.1 ( power)12.1 ( of)112 ( )]TJ 0.079 Tc 1.09 -1.231 Td [(2)12.3 (8)12.3 (5)12.3 (Wp)12.2 ( polysilicon)12.3 ( photovoltaic)54 ( )]TJ 0.029 Tc 0.079 Tw 0 -1.231 Td [(e)0.6 (l)0.5 (e)0.6 (m)0.5 (e)0.6 (n)0.5 (t)0.5 (s)4 ( )0.6 (i)0.5 (n)4 ( )0.5 (t)0.5 (h)0.6 (i)0.5 (s)4 ( )0.5 (p)0.6 (r)0.5 (o)0.6 (j)0.5 (e)0.6 (c)0.5 (t)4 ( )0.5 (i)0.6 (s)4 ( )0.5 (i)0.5 (n)0.6 (s)0.5 (t)0.6 (a)0.5 (l)0.6 (l)0.5 (e)0.6 (d)4 ( )]TJ 0.068 Tc 0.07 Tw 0 -1.231 Td [(with)12.6 ( a)12.6 ( fixed)12.6 ( inclination)12.7 ( angle)12.6 ( of)43 ( )]TJ 0.109 Tc 0.082 Tw 0 -1.231 Td [(24 d)-12.2 (e)-12.2 (g)-12.2 (r)-12.2 (e)-12.2 (e)-12.2 (s, u)-12.2 (s)-12.2 (i)-12.2 (n)-12.2 (g 12 500-K)-12.2 (W)84.1 ( )]TJ 0.081 Tc 0.07 Tw 0 -1.231 Td [(inverters)12.4 (,)12.5 ( 3)12.4 (2)12.5 ( 6)12.5 (3)12.4 (0)12.4 (-)12.5 (KW)12.5 ( inverters)12.5 (,)56 ( )]TJ 0.059 Tc 0 -1.231 Td [(and)12.3 ( 2)12.2 (2)12.3 ( step)12.3 (-)12.3 (up)12.3 ( transformers)12.3 (.)12.2 ( The)34 ( )]TJ 0.025 Tc 0.054 Tw 0 -1.231 Td (project commenced construction on )Tj 0 Tw 0 -1.231 Td (15 March 2018.)Tj 0.051 Tc 0.07 Tw -1.09 -2.462 Td [(During)12.9 ( the)12.9 ( 2)12.9 (5)12.9 (-)12.9 (year)12.9 ( operation)12.9 ( per)0.5 (iod)26 ( )]TJ 0.05 Tc 1.09 -1.231 Td [(of)12.2 ( the)12.2 ( project)12.2 (,)12.2 ( the)12.2 ( annual)12.2 ( average)25 ( )]TJ 0.054 Tc 0 -1.231 Td [(on)12.4 (-)12.5 (grid)12.5 ( electricity)12.4 ( is)12.5 ( estimated)12.5 ( to)29 ( )]TJ 0.062 Tc 0 -1.231 Td [(be)12.2 ( 2)12.1 (9)12.2 (.)12.2 (1)12.2 (8)12.2 (7)12.1 (7)12.2 ( million)12.2 ( kWh)12.2 (,)12.2 ( and)12.2 ( the)37.1 ( )]TJ 0 -1.231 Td [(a)0.5 (nn)0.5 (ua)0.5 (l)13 ( a)0.5 (v)0.5 (er)0.5 (a)0.5 (ge)13 ( )0.5 (po)0.5 (w)0.5 (er)13 ( )0.5 (ge)0.5 (n)0.5 (er)0.5 (a)0.5 (ti)0.5 (o)0.5 (n)36.9 ( )]TJ 0.025 Tc 0.023 Tw 0 -1.231 Td (and utilization hours is estimated to )Tj 0 Tw 0 -1.231 Td (be 1,069.15 hours.)Tj ET endstream endobj 115 0 obj <>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 24 \226)Tj ET q 0 Tc 0 g /GS1 gs 0 TL/Fm0 Do Q BT 0.026 Tc 0.07 Tw 13 0 0 13 325.9843 770.8479 Tm [(In)12.1 ( March)12.1 ( 2)12 (0)12.1 (2)12.1 (2)12.1 (,)12.1 ( power)12.1 ( generation)12.1 ( was)31 ( )]TJ 0.049 Tc 1.09 -1.231 Td [(2)13 (2)13.1 (6)13 (.)13 (1)13 (4)13.1 (0)13 (3)13 ( )0.5 (m)0.6 (i)0.5 (l)0.5 (l)0.5 (i)0.6 (o)0.5 (n)13 ( )0.6 (k)0.5 (W)0.5 (h)13.1 (,)13 ( )0.5 (u)0.5 (t)0.6 (i)0.5 (l)0.5 (i)0.6 (z)0.5 (a)0.5 (t)0.6 (i)0.5 (o)0.5 (n)54 ( )]TJ -0.005 Tc 0.083 Tw 0 -1.231 Td [(hours )0.5 (were 565.35 )0.5 (hours, )0.5 (and )0.5 (on-grid )]TJ 0 Tw 0 -1.231 Td (electricity was 218.0103 million kWh.)Tj 0.025 Tc -15.263 -2.462 Td (Grid-connected Date)Tj 0.096 Tc 0.07 Tw 14.173 0 Td [(T)0.5 (h)0.6 (e)13 ( )0.5 (i)0.6 (n)0.5 (s)0.5 (t)0.6 (a)0.5 (l)0.5 (l)0.6 (a)0.5 (t)0.5 (i)0.6 (o)0.5 (n)13 ( )0.6 (o)0.5 (f)13 ( )0.5 (t)0.6 (h)0.5 (e)13 ( )0.6 (f)0.5 (i)0.6 (r)0.5 (s)0.5 (t)13 ( )0.6 (w)0.5 (i)0.6 (n)0.5 (d)71 ( )]TJ 0.049 Tc 1.09 -1.231 Td [(turbine)12.5 ( was)12.5 ( completed)12.6 ( on)12.5 ( 2)12.5 (6)12.6 ( July)24 ( )]TJ 0.061 Tc 0 -1.231 Td [(2)12.1 (0)12.1 (2)12.1 (0)12.1 (,)12.1 ( the)12.1 ( installation)12.1 ( of)12.1 ( all)12.1 ( wind)36 ( )]TJ 0.115 Tc 0 -1.231 Td [(turbines)12.5 ( was)12.6 ( completed)12.6 ( on)12.5 ( 2)12.6 (5)90 ( )]TJ 0.023 Tc 0 Tw 0 -1.231 Td [(September 2021, the grid-connected)-2 ( )]TJ 0.128 Tc 0.07 Tw 0 -1.231 Td [(p)0.5 (ro)0.5 (d)0.5 (uc)0.5 (t)0.5 (io)0.5 (n)13 ( c)0.5 (o)0.5 (mm)0.5 (e)0.5 (nc)0.5 (e)0.5 (d)13 ( o)0.5 (n)13 ( 2)13 (9)103 ( )]TJ 0.047 Tc 0 -1.231 Td [(November)12.8 ( 2)12.8 (0)12.8 (2)12.9 (1)12.8 (,)12.8 ( and)12.8 ( full)12.8 (-)12.8 (capacity)22 ( )]TJ 0.024 Tc 0 Tw 0 -1.231 Td [(grid-connected power generation on)-1 ( )]TJ 0.025 Tc 0 -1.231 Td (25 December 2021.)Tj -15.263 -2.462 Td (On-grid Electricity Price)Tj -0.025 Tw 14.173 0 Td (RMB0.3910/kWh)Tj 0 Tw -14.173 -2.462 Td (Subsidized Electricity Price)Tj -0.025 Tw 14.173 0 Td (RMB0.4590/kWh)Tj 0 Tw -14.173 -2.462 Td (Electricity Business Licence)Tj -0.025 Tw 14.173 0 Td (Granted)Tj ET endstream endobj 114 0 obj <>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 23 \226)Tj ET q 0 Tc 0 g /GS1 gs 0 TL/Fm0 Do Q BT 13 0 0 13 141.7323 770.8479 Tm (Project Overview)Tj 0.012 Tw 14.173 0 Td (The wind farm is trapezoidal in shape, )Tj 0.065 Tc 0.07 Tw 1.09 -1.231 Td [(with)12.8 ( an)12.7 ( average)12.8 ( east)12.8 (-)12.8 (west)12.8 ( length)40 ( )]TJ 0.049 Tc 0 -1.231 Td [(of)12.2 ( about)12.2 ( 1)12.2 (3)12.2 (.)12.3 (7)12.2 ( km)12.3 ( and)12.2 ( a)12.2 ( maximum)23.9 ( )]TJ 0 -1.231 Td [(width)12.2 ( of)12.2 ( about)12.2 ( 8)12.2 (.)12.2 (2)12.2 ( km)12.2 ( from)12.2 ( north)23.9 ( )]TJ 0.06 Tc 0 -1.231 Td [(to)13 ( so)0.5 (uth)13 (.)12.9 ( T)0.5 (he)13 ( pla)0.5 (nn)0.5 (ed)12.9 ( )0.5 (se)0.5 (a)12.9 ( a)0.5 (re)0.5 (a)12.9 ( )0.5 (is)35 ( )]TJ 0.028 Tc 0.08 Tw 0 -1.231 Td [(about)3 ( )0.5 (6)3 (6)3 ( )0.5 (sq)3 (.)3 ( )0.5 (km)3 (.)3 ( )0.5 (The)3 ( )0.5 (planned)3 ( )0.5 (total)3 ( )]TJ 0.043 Tc 0.07 Tw 0 -1.231 Td [(installed)12.4 ( capacity)12.5 ( of)12.4 ( the)12.5 ( project)12.5 ( is)18 ( )]TJ 0.069 Tc 0 -1.231 Td [(4)12.1 (0)12.1 (0)12.1 ( MW)12.2 ( with)12.1 ( 1)12.1 (0)12.1 (0)12.2 ( wind)12.1 ( turbines)44 ( )]TJ 0.066 Tc 0 -1.231 Td [(\()12.2 (each)12.2 ( with)12.2 ( a)12.3 ( capacity)12.2 ( of)12.2 ( 4)12.2 ( MW)12.3 (\))12.2 (,)41 ( )]TJ 0.043 Tc 0 -1.231 Td [(a)13 ( 2)12.9 (2)13 (0)12.9 ( )0.5 (kV)12.9 ( )0.5 (off)0.5 (sh)0.5 (ore)13 ( b)0.5 (oo)0.5 (ste)0.5 (r)12.9 ( )0.5 (st)0.5 (ati)0.5 (on)12.9 (,)18 ( )]TJ 0.059 Tc 0 -1.231 Td [(a)0.6 (n)13 ( )0.6 (o)0.5 (f)0.6 (f)0.5 (s)0.6 (h)0.5 (o)0.6 (r)0.5 (e)13.1 ( )0.6 (c)0.5 (o)0.6 (n)0.5 (v)0.6 (e)0.5 (r)0.6 (t)0.5 (e)0.6 (r)13.1 ( )0.5 (s)0.6 (t)0.5 (a)0.6 (t)0.5 (i)0.6 (o)0.5 (n)13.1 ( )0.5 (a)0.6 (n)0.5 (d)34.1 ( )]TJ 0.127 Tc 0 -1.231 Td [(an)12.7 ( onshore)12.7 ( converter)12.8 ( station)12.7 (.)102 ( )]TJ 0.097 Tc 0 -1.231 Td [(According)12.5 ( to)12.5 ( the)12.5 ( estimation)12.5 ( of)72.1 ( )]TJ 0.025 Tc 0.029 Tw 0 -1.231 Td (feasibility study, the annual on-grid )Tj 0.034 Tc 0.074 Tw 0 -1.231 Td [(e)0.5 (l)0.6 (e)0.5 (c)0.5 (t)0.5 (r)0.6 (i)0.5 (c)0.5 (i)0.5 (t)0.6 (y)8.9 ( )0.5 (w)0.6 (i)0.5 (l)0.5 (l)9 ( )0.5 (b)0.5 (e)9.1 ( )0.5 (1)8.9 (,)9 (2)9 (6)9 (9)9 (.)9 (2)9 (6)9 ( )0.5 (m)0.5 (i)0.6 (l)0.5 (l)0.5 (i)0.5 (o)0.5 (n)9 ( )]TJ 0.102 Tc 0.07 Tw 0 -1.231 Td [(kW)12.6 (,)12.5 ( and)12.6 ( the)12.6 ( annual)12.6 ( equivalent)77 ( )]TJ 0.08 Tc 0 -1.231 Td [(full)12.8 (-)12.8 (load)12.8 ( hours)12.8 ( will)12.7 ( reach)12.7 ( 3)12.8 (,)12.8 (1)12.7 (7)12.8 (3)55 ( )]TJ 0.059 Tc 0 -1.231 Td [(hours)12.3 ( after)12.3 ( the)12.3 ( completion)12.3 ( of)12.3 ( the)34.1 ( )]TJ 0.056 Tc 0 -1.231 Td [(project)12.6 (.)12.5 ( It)12.5 ( can)12.6 ( save)12.6 ( 0)12.5 (.)12.6 (3)12.6 (8)12.6 (1)12.5 ( million)31 ( )]TJ 0.067 Tc 0 -1.231 Td [(to)0.5 (n)0.5 (s)12.9 ( )0.5 (of)13 ( s)0.5 (ta)0.5 (nd)0.5 (ar)0.5 (d)13 ( c)0.5 (oa)0.5 (l)12.9 ( )0.5 (a)0.5 (nd)13 ( r)0.5 (ed)0.5 (uc)0.5 (e)42 ( )]TJ 0.036 Tc 0.072 Tw 0 -1.231 Td [(carbon)11 ( )0.5 (dioxide)11 ( )0.5 (emissions)11 ( )0.5 (by)11 ( )0.5 (1)11 (.)11 (0)11 (5)11 (8)11 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (million tons per year.)Tj 0.036 Tc 0.072 Tw -1.09 -2.462 Td [(The)11 ( )0.5 (project)11 ( )0.5 (is)11 ( )0.5 (the)11 ( )0.5 (first)11 ( )0.5 (offshore)11 ( )0.5 (wind)10.9 ( )]TJ 0.035 Tc 0.073 Tw 1.09 -1.231 Td [(power)10 ( )0.5 (project)10 ( )0.5 (in)10 ( )0.5 (China)10 ( )0.5 (that)10 ( )0.5 (adopts)10 ( )]TJ 0.128 Tc 0.07 Tw 0 -1.231 Td [(a)12.9 ( long)12.9 (-)12.9 (distance)12.9 (,)12.8 ( high)12.9 (-)12.8 (voltage)103 ( )]TJ 0.061 Tc 0 -1.231 Td [(4)12.3 (0)12.3 (0)12.2 ( kV)12.3 ( flexible)12.3 ( DC)12.3 ( transmission)36 ( )]TJ 0.048 Tc 0 -1.231 Td [(scheme)12.4 (.)12.5 ( It)12.4 ( is)12.5 ( also)12.4 ( the)12.5 ( first)12.4 ( project)23 ( )]TJ 0.023 Tc 0 Tw 0 -1.231 Td [(using DC submarine cable in China.)-2 ( )]TJ 0.067 Tc 0.07 Tw 0 -1.231 Td [(The)12.1 ( transmission)12.1 ( distance)12.1 ( of)12.1 ( the)42 ( )]TJ 0.06 Tc 0 -1.231 Td [(DC)12.9 ( submarine)13 ( ca)0.5 (ble)12.9 ( exceeds)12.9 ( 1)12.9 (0)12.9 (0)35 ( )]TJ 0.025 Tc 0.065 Tw 0 -1.231 Td (km. The hard joints, soft joints and )Tj 0.063 Tc 0.07 Tw 0 -1.231 Td [(terminals)12.7 ( were)12.7 ( newly)12.7 ( developed)12.7 (.)38 ( )]TJ 0.124 Tc 0 -1.231 Td [(The)12.2 ( construction)12.1 ( scale)12.2 ( of)12.2 ( the)99.1 ( )]TJ 0.043 Tc 0 -1.231 Td [(offshore)12.3 ( converter)12.2 ( platform)12.3 ( of)12.3 ( the)18 ( )]TJ 0.034 Tc 0.074 Tw 0 -1.231 Td [(project)9 ( )0.5 (is)9 ( )0.5 (the)8.9 ( )0.5 (largest)9 ( )0.5 (in)9 ( )0.6 (China)9 (,)9 ( )0.5 (and)9 ( )]TJ 0.025 Tc 0.052 Tw 0 -1.231 Td (it would be the first time float-over )Tj 0.095 Tc 0.07 Tw 0 -1.231 Td [(method)12.4 ( applied)12.4 ( to)12.4 ( the)12.5 ( offshore)70 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (converter platform.)Tj ET endstream endobj 113 0 obj <>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 22 \226)Tj ET q 0 Tc 0 g /GS1 gs 0 TL/Fm0 Do Q BT 13 0 0 13 141.7323 770.8479 Tm (On-grid Electricity Price)Tj -0.025 Tw 14.173 0 Td (RMB0.3910/kWh)Tj 0 Tw -14.173 -2.462 Td 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Loss )Tj 0.016 Tc 0.07 Tw 0 -1.231 Td [(of)12.2 ( power)12.2 ( generation)12.2 ( was)12.2 ( 7)12.2 (2)12.2 (,)12.2 (4)12.2 (3)12.2 (6)12.2 (,)12.2 (9)12.2 (0)12.2 (0)26 ( )]TJ 0.046 Tc 0.083 Tw 0 -1.231 Td [(k)-12.7 (W)-12.6 (h \(i)-12.7 (n)-12.7 (c)-12.6 (l)-12.7 (u)-12.6 (d)-12.7 (i)-12.7 (n)-12.6 (g: 31,546,800 k)-12.7 (W)-12.6 (h)56 ( )]TJ 0.007 Tc 0.07 Tw 0 -1.231 Td [(failure)0.5 (s)12.9 ( loss)12.9 (,)12.9 ( 1)12.9 (,)12.9 (6)12.9 (0)12.9 (1)12.9 (,)12.9 (7)12.9 (0)12.9 (0)12.9 ( kWh)13 ( p)0.5 (lanned)17 ( )]TJ 0.055 Tc 0 -1.231 Td [(maintenance)12.6 ( loss)12.5 (,)12.5 ( 3)12.5 (,)12.5 (0)12.5 (3)12.6 (7)12.5 (,)12.5 (4)12.5 (0)12.5 (0)12.5 ( kWh)65 ( )]TJ 0.118 Tc 0.082 Tw 0 -1.231 Td [(o)-12.3 (n-s)-12.3 (i)-12.4 (t)-12.3 (e l)-12.3 (o)-12.4 (s)-12.3 (s, 36,220,200 k)-12.3 (W)-12.4 (h)128 ( )]TJ 0.03 Tc 0.07 Tw 0 -1.231 Td [(off)12.4 (-)12.3 (site)12.4 ( loss)12.3 (,)12.4 ( and)12.3 ( 3)12.4 (0)12.4 (,)12.4 (9)12.3 (0)12.4 (0)12.4 ( kWh)12.4 ( wind)40 ( )]TJ 0.048 Tc 0 -1.231 Td [(abandonment)12.2 ( loss)12.1 (\))12.1 (.)12.1 ( Average)12.2 ( wind)58 ( )]TJ 0.075 Tc 0 -1.231 Td [(speed)12.3 ( was)12.4 ( 6)12.3 (.)12.3 (5)12.3 (6)12.4 (m)12.3 (/)12.3 (s)12.3 (.)12.3 ( The)12.4 ( average)85 ( )]TJ 0.034 Tc 0 -1.231 Td [(utilization)12.3 ( rate)12.3 ( of)12.4 ( the)12.3 ( generator)12.3 ( set)44 ( )]TJ 0.054 Tc 0 -1.231 Td [(was)12.3 ( 9)12.2 (3)12.3 (.)12.2 (4)12.3 (%)12.2 (,)12.3 ( the)12.2 ( utilization)12.2 ( rate)12.3 ( of)64 ( )]TJ 0.084 Tc 0 -1.231 Td [(the)12.3 ( wind)12.2 ( farm)12.3 ( was)12.2 ( 9)12.2 (2)12.2 (.)12.3 (4)12.2 (8)12.3 (%)12.2 (,)12.3 ( and)94 ( )]TJ 0.098 Tc 0 -1.231 Td [(the)12.9 ( comprehensive)12.9 ( field)12.9 ( power)108.1 ( )]TJ -0.01 Tc 0 Tw 0 -1.231 Td (consumption rate* was 5.59%.)Tj 0.025 Tc -15.263 -2.462 Td (Grid-connection Date)Tj 0.043 Tc 0.07 Tw 14.173 0 Td [(The)12.7 ( first)12.7 ( wind)12.7 ( turbine)12.7 (:)12.7 ( 1)12.6 (9)12.8 ( December)18 ( )]TJ 0.025 Tc -0.025 Tw 1.09 -1.231 Td (2020)Tj 0 Tw -1.09 -2.462 Td (All wind turbines: 31 October 2021)Tj ET endstream endobj 33 0 obj </LastModified/NumberOfPageItemsInPage 2/NumberofPages 1/OriginalDocumentID/PageItemUIDToLocationDataMap<>/PageTransformationMatrixList<>/PageUIDList<>/PageWidthList<>>>>>/Resources<>/Font<>/ProcSet[/PDF/Text]/XObject<>>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page>> endobj 34 0 obj </LastModified/NumberOfPageItemsInPage 2/NumberofPages 1/OriginalDocumentID/PageItemUIDToLocationDataMap<>/PageTransformationMatrixList<>/PageUIDList<>/PageWidthList<>>>>>/Resources<>/Font<>/ProcSet[/PDF/Text]/XObject<>>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page>> endobj 35 0 obj </LastModified/NumberOfPageItemsInPage 2/NumberofPages 1/OriginalDocumentID/PageItemUIDToLocationDataMap<>/PageTransformationMatrixList<>/PageUIDList<>/PageWidthList<>>>>>/Resources<>/Font<>/ProcSet[/PDF/Text]/XObject<>>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page>> endobj 36 0 obj </LastModified/NumberOfPageItemsInPage 2/NumberofPages 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)]TJ 0.025 Tc 0 Tw 2.51 -1.231 Td (interest \226 Jiangsu Rudong H5# Offshore Wind Farm project)Tj /T1_0 1 Tf 13 0 0 13 141.7323 696.3179 Tm (Project company)Tj 14.173 0 Td (Rudong Company)Tj -14.173 -2.462 Td (Type of Project)Tj 14.173 0 Td (Offshore wind power generation)Tj -14.173 -2.462 Td (Site of Construction)Tj 0.113 Tc 0.07 Tw 14.173 0 Td [(North)12 (-)12.2 (eastern)12.1 ( side)12.2 ( of)12.1 ( Pufferfish)88 ( )]TJ 0.108 Tc 1.09 -1.231 Td [(Sandbar)12.4 (,)12.4 ( Rudong)12.4 ( Sea)12.4 (,)12.4 ( Rudong)83 ( )]TJ 0.048 Tc 0 -1.231 Td [(County)12.4 (,)12.5 ( Nantong)12.5 (,)12.4 ( Jiangsu)12.5 ( \()12.4 (Centre)23 ( )]TJ 0.025 Tc 0.083 Tw 0 -1.231 Td [(of the )0.5 (farm )0.5 (being 48 )0.5 (k.m. )0.5 (from the )]TJ -0.025 Tw 0 -1.231 Td (shore\))Tj 0 Tw -15.263 -2.462 Td (Mode of Power Generation)Tj 14.173 0 Td (All electricity connected to grid)Tj -14.173 -2.462 Td (Estimated Investment Amount)Tj 14.173 0 Td (RMB5,565.66 million)Tj -14.173 -2.462 Td (Capital Ratio)Tj 14.173 0 Td (Capital ratio 25%)Tj 0 -1.231 Td (Loan financing ratio 75%)Tj -14.173 -2.462 Td (Project Final Accounts)Tj -0.025 Tw 14.173 0 Td (Pending)Tj 0 Tw -14.173 -2.462 Td (Filed Capacity)Tj -0.025 Tw 14.173 0 Td (300MW)Tj 0 Tw -14.173 -2.462 Td (Installed Capacity)Tj -0.025 Tw 14.173 0 Td (300MW)Tj 0 Tw -14.173 -2.462 Td (Progress of Work)Tj -0.025 Tw 14.173 0 Td (Grid-connected)Tj ET endstream endobj 120 0 obj <>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 19 \226)Tj ET q 0 Tc 0 g /GS1 gs 0 TL/Fm0 Do Q BT /T1_1 1 Tf 13 0 0 13 85.0394 776.409 Tm [(3. )-1105.5 (Key Clean Energy Projects)]TJ /T1_0 1 Tf 0.071 Tc 0.07 Tw 2.181 -2.462 Td [(The)12.3 ( Target)12.3 ( Group)12.3 ( has)12.3 ( invested)12.3 ( in)12.2 ( 6)12.3 (7)12.3 ( clean)12.3 ( energy)12.3 ( projects)12.3 (.)12.3 ( As)12.3 ( of)12.3 ( 3)12.3 (1)46 ( )]TJ 0.037 Tc 0.071 Tw 0 -1.231 Td [(December)12 ( )0.5 (2)12 (0)12 (2)12 (1)12 (,)12.1 ( the)12 ( )0.5 (total)12 ( )0.5 (installed)12 ( )0.5 (capacity)12 ( )0.5 (of)12 ( )0.5 (the)12.1 ( )0.5 (grid)12 (-)12 (connected)12 ( )0.5 (projects)12 ( )]TJ 0.053 Tc 0.07 Tw 0 -1.231 Td [(was)12.1 ( 5)12.1 (2)12.2 (6)12.1 (.)12.1 (6)12.2 ( MW)12.2 ( \()12.2 (including)12.1 ( equity)12.2 ( share)12.1 ( of)12.2 ( installed)12.2 ( capacity)12.1 (\))12.2 (,)12.1 ( of)12.1 ( which)12.1 (:)28 ( )]TJ 0.06 Tc 0 -1.231 Td [(3)12.7 (0)12.6 (0)12.7 ( MW)12.6 ( of)12.7 ( offshore)12.7 ( wind)12.6 ( power)12.7 ( with)12.6 ( controlling)12.7 ( interests)12.7 (,)12.7 ( 1)12.6 (1)12.7 (3)12.7 (.)12.6 (1)12.6 ( MW)35 ( )]TJ 0.042 Tc 0 -1.231 Td [(of)12.6 ( photovoltaic)12.6 ( power)12.5 ( with)12.6 ( controlling)12.6 ( interests)12.5 (,)12.6 ( 3)12.6 (.)12.5 (5)12.5 ( MW)12.6 ( of)12.5 ( photovoltaic)17 ( )]TJ 0.047 Tc 0 -1.231 Td [(power)12.8 ( with)12.8 ( equity)12.8 ( participation)12.8 ( and)12.8 ( 1)12.8 (1)12.8 (0)12.7 ( MW)12.7 ( of)12.7 ( wind)12.8 ( power)12.8 ( with)12.7 ( equity)22 ( )]TJ 0.048 Tc 0 -1.231 Td [(participation)12.3 (.)12.4 ( In)12.4 ( 2)12.3 (0)12.4 (2)12.3 (1)12.3 (,)12.4 ( amongst)12.3 ( projects)12.3 ( which)12.4 ( YS)12.4 ( Energy)12.3 ( Company)12.3 ( has)23 ( )]TJ 0.045 Tc 0 -1.231 Td [(a)12.4 ( controlling)12.3 ( interests)12.4 (,)12.3 ( the)12.3 ( total)12.3 ( power)12.4 ( generation)12.3 ( was)12.4 ( 6)12.3 (2)12.4 (3)12.3 (,)12.4 (1)12.3 (7)12.4 (7)12.3 (,)12.4 (8)12.3 (0)12.4 (0)12.3 ( kWh)12.4 (,)20 ( )]TJ 0.061 Tc 0.083 Tw 0 -1.231 Td [(o)-12.8 (f w)-12.8 (h)-12.8 (i)-12.8 (c)-12.8 (h: 143,862,100 k)-12.8 (W)-12.8 (h o)-12.8 (f p)-12.8 (h)-12.8 (o)-12.8 (t)-12.8 (o)-12.8 (v)-12.8 (o)-12.8 (l)-12.8 (t)-12.8 (a)-12.8 (i)-12.8 (c a)-12.8 (n)-12.8 (d 479,315,700 k)-12.9 (W)-12.7 (h o)-12.8 (f)36 ( )]TJ 0.055 Tc 0.07 Tw 0 -1.231 Td [(wind)12.2 ( power)12.2 (;)12.3 ( the)12.3 ( total)12.2 ( on)12.3 (-)12.2 (grid)12.2 ( power)12.2 ( was)12.3 ( 6)12.3 (0)12.2 (1)12.3 (,)12.2 (6)12.3 (0)12.2 (2)12.3 (,)12.2 (3)12.3 (0)12.2 (0)12.3 ( kWh)12.3 (,)12.2 ( completing)30 ( )]TJ 0.025 Tc 0.052 Tw 0 -1.231 Td (106.86% of the annual target on-grid power, of which: 143,168,500 kWh of\ )Tj 0.039 Tc 0.07 Tw 0 -1.231 Td [(photovoltaic)12.5 (,)12.5 ( completing)12.4 ( 1)12.5 (0)12.5 (8)12.5 (.)12.4 (0)12.5 (5)12.5 (%)12.5 ( of)12.4 ( the)12.5 ( annual)12.5 ( target)12.5 ( on)12.5 (-)12.5 (grid)12.5 ( electricity)12.5 (,)14 ( )]TJ 0.047 Tc 0 -1.231 Td [(a)0.5 (nd)13 ( )0.5 (4)13 (5)12.9 (8)13 (,)12.9 (4)13 (3)13 (3)12.9 (,)13 (8)13 (0)12.9 (0)13 ( )0.5 (kW)0.5 (h)13 ( o)0.5 (f)13 ( )0.5 (wi)0.5 (n)0.5 (d)12.9 ( )0.5 (p)0.5 (ow)0.5 (e)0.5 (r)13 (,)12.9 ( )0.5 (c)0.5 (o)0.5 (mp)0.5 (l)0.5 (et)0.5 (in)0.5 (g)13 ( )0.5 (1)12.9 (0)13 (6)13 (.)12.9 (4)13 (9)12.9 (%)13 ( )0.5 (o)0.5 (f)12.9 ( )0.5 (t)0.5 (he)13 ( )0.5 (a)0.5 (nn)0.5 (u)0.5 (al)22 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (target on-grid electricity.)Tj 0.057 Tc 0.07 Tw 0 -2.462 Td [(Target)12.8 ( Group)12.8 (\222)12.8 (s)12.8 ( equity)12.8 ( interest)12.8 ( in)12.8 ( power)12.8 ( stations)12.7 ( and)12.8 ( the)12.8 ( corresponding)32 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (electricity generation in recent 3 years are as follows:)Tj /T1_1 1 Tf -0.025 Tw 0 -6.154 Td (Year)Tj 0 Tw 16.476 2.462 Td (Equity Share of )Tj 0.224 -1.231 Td (the Capacity of )Tj 0.108 -1.231 Td (Power Stations )Tj 9.548 3.692 Td (Equity Share )Tj 0.884 -1.231 Td (of On-Grid )Tj -0.025 Tw 0.338 -1.231 Td (Electricity )Tj -0.365 -1.231 Td (Generation )Tj /T1_0 1 Tf 13 0 3.4833 13 390.4012 392.409 Tm (\(MW\))Tj 0 Tw 5.135 0 Td (\(Million kWh\))Tj -0.025 Tw 13 0 0 13 113.3858 360.409 Tm (2019)Tj 21.199 0 Td (136.0)Tj 9.522 0 Td (134)Tj -30.721 -1.231 Td (2020)Tj 21.199 0 Td (146.0)Tj 9.522 0 Td (139)Tj -30.721 -1.231 Td (2021)Tj 21.199 0 Td (526.6)Tj 9.522 0 Td (601)Tj ET endstream endobj 119 0 obj <>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 18 \226)Tj ET q 0 Tc 0 g /GS1 gs 0 TL/Fm0 Do Q BT /T1_1 1 Tf 13 0 0 13 85.0394 776.409 Tm [(2. )-1105.5 (Financial Information)]TJ /T1_0 1 Tf 0.032 Tc 0.076 Tw 2.181 -2.462 Td [(Set)7 ( )0.5 (out)7 ( )0.5 (below)7 ( )0.5 (is)7 ( )0.5 (the)7 ( )0.5 (financial)7 ( )0.5 (information)7 ( )0.5 (of)7 ( )0.5 (the)7 ( )0.5 (Target)7 ( )0.5 (Group)7 ( )0.5 (for)7 ( )0.5 (the)7 ( )0.5 (two)7 ( )]TJ 0.03 Tc 0.078 Tw 0 -1.231 Td [(financial)5 ( )0.5 (years)5 ( )0.5 (ended)5 ( )0.5 (3)5 (1)5 ( )0.5 (December)5 ( )0.5 (2)5 (0)5 (2)5 (0)5 ( )0.5 (and)5 ( 2)5.1 (0)5 (2)4.9 (1)5.1 (,)4.9 ( )0.6 (which)5.1 ( )0.5 (were)5.1 ( )0.5 (audited)5 ( )0.5 (by)5 ( )]TJ 0.026 Tc 0.082 Tw 0 -1.231 Td [(S)0.5 (h)0.5 (i)0.5 (n)0.5 (e)0.5 (W)0.6 (i)0.5 (n)0.5 (g)1 ( )0.5 (C)0.5 (e)0.5 (r)0.5 (t)0.5 (i)0.5 (f)0.6 (i)0.5 (e)0.5 (d)1 ( )0.5 (P)0.5 (u)0.5 (b)0.5 (l)0.5 (i)0.5 (c)1 ( )0.5 (A)0.5 (c)0.6 (c)0.5 (o)0.5 (u)0.5 (n)0.5 (t)0.5 (a)0.5 (n)0.5 (t)0.6 (s)0.9 ( )0.6 (L)0.5 (L)0.5 (P)1 (,)1 ( )0.5 (t)0.5 (h)0.5 (e)1 ( )0.5 (T)0.5 (a)0.5 (r)0.6 (g)0.5 (e)0.5 (t)1 ( )0.5 (G)0.5 (r)0.5 (o)0.5 (u)0.5 (p)1 (\222)1 (s)1.1 ( )0.5 (s)0.5 (t)0.5 (a)0.5 (t)0.5 (u)0.5 (t)0.5 (o)0.5 (r)0.5 (y)1 ( )]TJ 0.069 Tc 0.07 Tw 0 -1.231 Td [(auditors)12.3 ( \()12.4 (who)12.3 ( has)12.3 ( issued)12.3 ( a)12.4 ( standard)12.4 ( unqualified)12.3 ( opinion)12.3 (\))12.4 (,)12.3 ( and)12.3 ( for)12.4 ( the)44 ( )]TJ 0.025 Tc 0.066 Tw 0 -1.231 Td (unaudited financial information for the three months ended 31 March 2022\ , )Tj 0 Tw 0 -1.231 Td (prepared by the Target Group:)Tj -0.025 Tw 13 0 3.4833 13 466.4381 632.409 Tm (\(RMB0\222000\))Tj /T1_1 1 Tf 0 Tw 13 0 0 13 311.1343 568.409 Tm (As at the )Tj -1.162 -1.231 Td (end of 2020 )Tj -0.025 Tw 1.05 -1.231 Td (\(audited\))Tj 0 Tw 6.654 2.462 Td (As at the )Tj -1.162 -1.231 Td (end of 2021 )Tj -0.025 Tw 1.05 -1.231 Td (\(audited\))Tj 0 Tw 6.654 4.923 Td (As at the )Tj -0.47 -1.231 Td (end of the )Tj -1.157 -1.231 Td (first quarter )Tj 2.371 -1.231 Td (of 2022 )Tj -0.025 Tw -2.018 -1.231 Td (\(unaudited\))Tj /T1_0 1 Tf 0 Tw -27.02 -2.462 Td (Total Assets*)Tj -0.025 Tw 14.463 0 Td (433,779.90)Tj 6.541 0 Td (647,594.34)Tj 6.541 0 Td (655,005.07)Tj 0 Tw -27.546 -1.231 Td (Net Assets*)Tj -0.025 Tw 14.463 0 Td (204,623.12)Tj 6.541 0 Td (225,195.49)Tj 6.541 0 Td (241,717.37)Tj /T1_1 1 Tf 0 Tw -11.21 -3.565 Td (For the )Tj -1.05 -1.231 Td (year 2020 )Tj -0.025 Tw 0.249 -1.231 Td (\(audited\))Tj 0 Tw 7.342 2.462 Td (For the )Tj -1.05 -1.231 Td (year 2021 )Tj -0.025 Tw 0.249 -1.231 Td (\(audited\))Tj 0 Tw 7.342 3.692 Td (For the )Tj -2.316 -1.231 Td (first quarter )Tj 2.371 -1.231 Td (of 2022 )Tj -0.025 Tw -2.018 -1.231 Td (\(unaudited\))Tj /T1_0 1 Tf 0 Tw -27.456 -2.462 Td (Operating Income)Tj -0.025 Tw 14.988 0 Td (10,614.01)Tj 6.541 0 Td (44,105.31)Tj 6.541 0 Td (15,170.56)Tj 0 Tw -28.071 -1.231 Td (Profit before taxation)Tj -0.025 Tw 15.513 0 Td (3,419.74)Tj 6.016 0 Td (12,114.10)Tj 7.066 0 Td (5,431.06)Tj 0 Tw -28.596 -1.231 Td (Profit after taxation)Tj -0.025 Tw 15.513 0 Td (3,226.52)Tj 6.016 0 Td (11,835.37)Tj 7.066 0 Td (5,372.97)Tj 0 Tw -28.596 -1.231 Td (Net profits attributable to )Tj 0.654 -1.231 Td (shareholders of YS Energy )Tj -0.025 Tw 0 -1.231 Td (Company)Tj 14.859 0 Td (2,894.42)Tj 6.541 0 Td (8,270.47)Tj 6.541 0 Td (4,441.60)Tj 0.047 Tc 0.07 Tw 11 0 0 11 113.3858 269.7109 Tm [(*)22 ( )-1685 (In)12.7 ( 2)12.7 (0)12.8 (2)12.7 (1)12.8 (,)12.7 ( Jiangsu)12.8 ( Communications)12.7 ( Holding)12.8 ( made)12.7 ( capital)12.7 ( contribution)12.7 ( of)12.7 ( RMB)12.7 (4)12.8 (0)22 ( )]TJ 0.057 Tc 2.577 -1.273 Td [(million)12.8 ( and)12.8 ( minority)12.8 ( shareholders)12.8 ( of)12.8 ( subsidiaries)12.8 ( made)12.8 ( capital)12.8 ( contribution)12.8 ( of)32 ( )]TJ 0.025 Tc 0 Tw 0 -1.273 Td (RMB47.37 million.)Tj 0.035 Tc 0.073 Tw 0 -2.727 Td [(On)10 ( )0.5 (January)10 ( )0.5 (1)10 (4)10 (,)10 ( )0.5 (2)10 (0)10 (2)10 (2)10 (,)10 ( )0.5 (Jiangsu)10 ( )0.5 (Communications)10.1 ( )0.5 (Holding)10 ( )0.5 (made)10 ( )0.5 (capital)10 ( )0.5 (contribution)9.9 ( )]TJ 0.078 Tc 0.07 Tw 0 -1.273 Td [(of)13 ( RM)0.5 (B)12.9 (1)12.9 (1)12.9 (1)13 ( mil)0.5 (lion)13 (,)12.9 ( a)0.5 (nd)12.9 ( s)0.5 (pe)0.5 (cial)13 ( re)0.5 (ser)0.5 (ve)12.9 ( )0.5 (for)13 ( sa)0.5 (fet)0.5 (y)12.9 ( p)0.5 (rodu)0.5 (ctio)0.5 (n)12.9 ( i)0.5 (ncr)0.5 (eas)0.5 (ed)12.9 ( )0.5 (by)53 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.273 Td (RMB490,000.)Tj ET endstream endobj 118 0 obj <>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 17 \226)Tj ET q 0 Tc 0 g /GS1 gs 0 TL/Fm0 Do Q BT 0.028 Tc 0.08 Tw 13 0 0 13 113.3858 776.3179 Tm [(As)3 ( )0.5 (at)3 ( )0.5 (the)3 ( )0.5 (date)3 ( )0.6 (of)3 ( )0.5 (this)3 ( )0.5 (Announcement)3 (,)3 ( )0.5 (YS)3.1 ( Energy)3 ( )0.5 (Company)3 ( )0.5 (has)3 ( )0.5 (invested)3 ( )0.5 (in)3 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (the following companies which are established in the PRC:)Tj /T1_1 1 Tf 10.4 0 0 13 113.3858 712.3179 Tm (Associated Companies)Tj -0.025 Tw 11.718 1.231 Td (Shareholding )Tj -0.27 -1.231 Td (Percentage)Tj 0 Tw 6.814 0 Td (Core Business)Tj -0.025 Tw 13.628 1.231 Td (Grid-Connection )Tj 0 -1.231 Td (Date)Tj /T1_0 1 Tf 0 Tw -31.89 -2.462 Td (Jiangsu Nengtou )Tj 0.818 -1.231 Td (Xincheng Photovoltaic )Tj 0 -1.231 Td (Power Co., Ltd.)Tj -0.025 Tw 15.016 2.462 Td (49%)Tj 0 Tw 2.428 0 Td (Operating 7.2 MW distributed )Tj 0.818 -1.231 Td (photovoltaic power )Tj 0 -1.231 Td (generation facilities on )Tj 0 -1.231 Td (rooftop of buildings in the )Tj 0 -1.231 Td (City of Xuzhou, Jiangsu)Tj 12.81 4.923 Td (23 November 2017)Tj -31.89 -7.385 Td (Longyuan Donghai Wind )Tj 0.818 -1.231 Td (Power Co., Ltd.)Tj -0.025 Tw 15.016 1.231 Td (30%)Tj 0 Tw 2.428 0 Td (Operating a 100 MW ground )Tj 0.818 -1.231 Td (wind power plant in the City )Tj 0 -1.231 Td (of Lianyungang, Jiangsu)Tj 12.81 2.462 Td (Phase I \226 )Tj 0 Tc 10.4 0 0 13 488.3652 584.3179 Tm ( )Tj 0.025 Tc 10.4 0 0 13 445.0393 568.3179 Tm (December 2014)Tj 0 Tc 10.4 0 0 13 514.552 568.3179 Tm ( )Tj -6.684 -1.231 Td ( )Tj 0.025 Tc 10.4 0 0 13 445.0393 536.3179 Tm (Phase II \226 )Tj 0 Tc 10.4 0 0 13 492.0883 536.3179 Tm ( )Tj 0.025 Tc 10.4 0 0 13 445.0393 520.3179 Tm (December 2015)Tj -31.89 -2.462 Td (Three Gorges New )Tj 0.818 -1.231 Td (Energy Nantong Co., )Tj 0 -1.231 Td (Ltd. \(hereinafter )Tj 0 -1.231 Td (referred to as \223)Tj /T1_1 1 Tf -0.025 Tw (Three )Tj 0 Tw 0 -1.231 Td (Gorges Nantong )Tj -0.025 Tw 0 -1.231 Td (Company)Tj /T1_0 1 Tf (\224\))Tj 15.016 6.154 Td (20%)Tj 0 Tw 2.428 0 Td (Operating a 400 MW offshore )Tj 0.818 -1.231 Td (wind power plant in )Tj 0 -1.231 Td (Nantong, Jiangsu)Tj 12.81 2.462 Td (First turbine:)Tj 0 Tc 10.4 0 0 13 502.7068 488.3179 Tm ( )Tj 0.025 Tc 10.4 0 0 13 445.0393 472.3179 Tm (16 November 2020)Tj 0 Tc 10.4 0 0 13 529.4971 472.3179 Tm ( )Tj -8.121 -1.231 Td ( )Tj 0.025 Tc 10.4 0 0 13 445.0393 440.3179 Tm (All turbines:)Tj 0 Tc 10.4 0 0 13 500.71 440.3179 Tm ( )Tj 0.025 Tc 10.4 0 0 13 445.0393 424.3179 Tm (25 December 2021)Tj ET endstream endobj 117 0 obj <>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 16 \226)Tj ET q 0 Tc 0 g /GS1 gs 0 TL/Fm0 Do Q BT /T1_1 1 Tf -0.025 Tw 10.4 0 0 13 113.3858 754.8479 Tm (Subsidiaries)Tj 11.718 1.231 Td (Shareholding )Tj 1.054 -1.231 Td (Percentage)Tj 0 Tw 5.49 0 Td (Core Business)Tj -0.025 Tw 13.628 1.231 Td (Grid-Connection )Tj 0 -1.231 Td (Date)Tj /T1_0 1 Tf 0 Tw -31.89 -2.462 Td (Liyang Youke Energy )Tj 0.818 -1.231 Td (Co., Ltd.)Tj -0.025 Tw 15.016 1.231 Td (90%)Tj 0.023 Tc 0 Tw 2.428 0 Td [(Operating an aggregate of 4.68)-2 ( )]TJ 0.025 Tc 0.818 -1.231 Td (MW distributed photovoltaic )Tj 0 -1.231 Td (power generation facilities )Tj 0 -1.231 Td (on rooftop of buildings in )Tj 0 -1.231 Td (the City of Changzhou, )Tj -0.025 Tw 0 -1.231 Td (Jiangsu)Tj 0 Tw 12.81 6.154 Td (Phase I \226 3.424MW:)Tj 0 Tc 10.4 0 0 13 535.7993 722.8479 Tm ( )Tj 0.025 Tc 10.4 0 0 13 445.0393 706.8479 Tm (18 November 2017)Tj 0 Tc 10.4 0 0 13 529.4971 706.8479 Tm ( )Tj -8.121 -1.231 Td ( )Tj 0.02 Tc 10.4 0 0 13 445.0393 674.8479 Tm (Phase II \226 1.261MW:)Tj 0 Tc 10.4 0 0 13 538.5344 674.8479 Tm ( )Tj 0.025 Tc 10.4 0 0 13 445.0393 658.8479 Tm (1 December 2019)Tj -31.89 -3.692 Td (Yancheng Yuanshan )Tj 0.818 -1.231 Td (Photovoltaic Power )Tj 0 -1.231 Td (Co., Ltd.)Tj -0.025 Tw 15.016 2.462 Td (80%)Tj 0 Tw 2.428 0 Td (Operating 26 MW )Tj 0.818 -1.231 Td (ground-mount on-grid )Tj 0 -1.231 Td (photovoltaic power station )Tj 0 -1.231 Td (in the City of Yancheng, )Tj -0.025 Tw 0 -1.231 Td (Jiangsu)Tj 0 Tw 12.81 4.923 Td (29 June 2018)Tj -31.89 -7.385 Td (Suxiaokong Rudong )Tj 0.818 -1.231 Td (Offshore Wind Power )Tj 0 -1.231 Td (Co. Ltd. \(hereinafter )Tj 0 -1.231 Td (referred to as \223)Tj /T1_1 1 Tf -0.025 Tw (Rudong )Tj 0 -1.231 Td (Company)Tj /T1_0 1 Tf (\224\))Tj 15.016 4.923 Td (72%)Tj 0 Tw 2.428 0 Td (Operating a 300 MW offshore )Tj 0.818 -1.231 Td (wind power plant in )Tj 0 -1.231 Td (Nantong, Jiangsu)Tj 12.81 2.462 Td (First turbine:)Tj 0 Tc 10.4 0 0 13 502.7068 514.8479 Tm ( )Tj 0.025 Tc -0.025 Tw 10.4 0 0 13 445.0393 498.8479 Tm (19/12/2020)Tj 0 Tc 0 Tw 10.4 0 0 13 495.0217 498.8479 Tm ( )Tj -4.806 -1.231 Td ( )Tj 0.025 Tc 10.4 0 0 13 445.0393 466.8479 Tm (All turbines:)Tj 0 Tc 10.4 0 0 13 500.71 466.8479 Tm ( )Tj 0.025 Tc -0.025 Tw 10.4 0 0 13 445.0393 450.8479 Tm (31/10/2021)Tj 0 Tw -31.89 -2.462 Td (Changzhou Jintan )Tj 0.818 -1.231 Td (Heyi New Energy )Tj 0 -1.231 Td (Technology Co. Ltd.)Tj -0.025 Tw 15.016 2.462 Td (70%)Tj 0 Tw 2.428 0 Td (Operating 10.79 MW )Tj 0.818 -1.231 Td (distributed photovoltaic )Tj 0 -1.231 Td (power generation facilities )Tj 0 -1.231 Td (on rooftop of buildings in )Tj 0 -1.231 Td (the City of Changzhou, )Tj -0.025 Tw 0 -1.231 Td (Jiangsu)Tj 0 Tw 12.81 6.154 Td (Phase I \226 4.8 MW:)Tj 0 Tc 10.4 0 0 13 527.7393 418.8479 Tm ( )Tj 0.025 Tc 10.4 0 0 13 445.0393 402.8479 Tm (July 2020)Tj 0 Tc 10.4 0 0 13 488.116 402.8479 Tm ( )Tj -4.142 -1.231 Td ( )Tj 0.025 Tc 10.4 0 0 13 445.0393 370.8479 Tm (Phase II \226 5.99 MW:)Tj 0 Tc 10.4 0 0 13 536.9224 370.8479 Tm ( )Tj 0.025 Tc 10.4 0 0 13 445.0393 354.8479 Tm (October 2020)Tj -31.89 -3.692 Td (Suxiaokong Fengxian )Tj 0.818 -1.231 Td (Renewal Energy Co., )Tj -0.025 Tw 0 -1.231 Td (Ltd.)Tj 15.016 2.462 Td (70%)Tj 0 Tw 2.428 0 Td (Operating two 10 MW )Tj 0.818 -1.231 Td (ground-mount photovoltaic )Tj 0 -1.231 Td (power stations \(being )Tj -0.025 Tw 0 -1.231 Td (agri-photovoltaic )Tj 0 Tw 0 -1.231 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0 Tc 0 Tw 10.4 0 0 13 481.5534 370.8479 Tm ( )Tj 0.025 Tc 10.4 0 0 13 445.0393 354.8479 Tm (29 July 2016)Tj 0 Tc 10.4 0 0 13 501.896 354.8479 Tm ( )Tj -5.467 -1.231 Td ( )Tj 0.025 Tc -0.025 Tw 10.4 0 0 13 445.0393 322.8479 Tm (0.3MW:)Tj 0 Tc 0 Tw 10.4 0 0 13 481.5534 322.8479 Tm ( )Tj 0.025 Tc 10.4 0 0 13 445.0393 306.8479 Tm (14 February 2017)Tj -31.89 -4.923 Td (Suxiaokong Fengxian )Tj 0.818 -1.231 Td (Agricultural Science )Tj 0 -1.231 Td (and Technology Co., )Tj -0.025 Tw 0 -1.231 Td (Ltd.)Tj 14.491 3.692 Td (100%)Tj 0 Tw 2.953 0 Td (Leasing of agriculture land )Tj 0.818 -1.231 Td (of the agri-photovoltaic )Tj 0 -1.231 Td (complementary power )Tj 0 -1.231 Td (facilities of Suxiaokong )Tj 0 -1.231 Td (New Energy Technology )Tj 0 -1.231 Td (Fengxian Co., Ltd. and )Tj 0 -1.231 Td (Suxiaokong Fengxian )Tj 0 -1.231 Td (Renewal Energy Co., Ltd.)Tj 12.81 8.615 Td (Not applicable)Tj ET endstream endobj 125 0 obj <>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 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( Company)12.9 (,)12.9 ( Jiangsu)12.9 ( Guangjing)12.9 ( Xicheng)47 ( )]TJ 0.052 Tc 0 -1.231 Td [(Expressway)12.2 ( Co)12.2 (.)12.1 (,)12.2 ( Ltd)12.2 (.)12.2 ( and)12.2 ( Wufengshan)12.2 ( Bridge)12.2 ( Co)12.2 (.)12.2 (,)12.1 ( Ltd)12.2 (.)12.2 (,)12.2 ( subsidiaries)12.2 ( of)27.1 ( )]TJ 0.05 Tc 0 -1.231 Td [(the)12.3 ( Company)12.3 ( to)12.3 ( Jiangsu)12.3 ( Communications)12.4 ( Holding)12.3 ( are)12.3 ( RMB)12.3 (5)12.3 (0)12.4 (0)12.2 ( million)12.3 (,)25 ( )]TJ 0.028 Tc 0.08 Tw 0 -1.231 Td [(RMB)3 (1)3 (.)3 (6)3 (5)3 ( )0.5 (billion)3 ( )0.5 (and)3 ( )0.5 (RMB)3 (5)3 (5)3 (0)3 ( )0.5 (million)3 (,)3 ( )0.5 (respectively)3 (.)3 ( )0.5 (Save)3 ( )0.5 (as)3 ( )0.5 (set)3 ( )0.5 (out)3 ( )0.5 (in)3 ( )0.5 (the)3.1 ( )]TJ 0.047 Tc 0.07 Tw 0 -1.231 Td [(p)0.5 (u)0.6 (b)0.5 (l)0.6 (i)0.5 (s)0.5 (h)0.6 (e)0.5 (d)13.1 ( )0.5 (a)0.6 (n)0.5 (n)0.5 (o)0.6 (u)0.5 (n)0.5 (c)0.6 (e)0.6 (m)0.5 (e)0.5 (n)0.6 (t)0.5 (s)13.1 ( )0.5 (o)0.5 (f)13.1 ( )0.5 (t)0.6 (h)0.5 (e)13.1 ( )0.5 (C)0.6 (o)0.5 (m)0.5 (p)0.6 (a)0.5 (n)0.6 (y)13 (,)13 ( )0.6 (t)0.5 (h)0.6 (e)0.5 (r)0.6 (e)13 ( )0.6 (i)0.5 (s)13 ( )0.6 (n)0.5 (o)13 ( )0.6 (o)0.5 (t)0.6 (h)0.5 (e)0.6 (r)13 ( )0.6 (r)0.5 (e)0.6 (l)0.5 (a)0.5 (t)0.6 (i)0.5 (o)0.6 (n)0.5 (s)0.5 (h)0.6 (i)0.5 (p)22 ( )]TJ 0.025 Tc 0.042 Tw 0 -1.231 Td (between the Group and Jiangsu Communications Holding and its associates,\ )Tj 0 Tw 0 -1.231 Td (whether in terms of property rights, business, assets, personnel or othe\ rwise.)Tj /T1_1 1 Tf -2.181 -2.462 Td [(3. )-1105.5 (YS Energy Company)]TJ /T1_0 1 Tf 0.077 Tc 0.07 Tw 2.181 -2.462 Td [(Y)0.5 (S)13 ( E)0.5 (n)0.5 (e)0.5 (rg)0.5 (y)13 ( )0.5 (Co)0.5 (m)0.5 (p)0.5 (an)0.5 (y)13 ( \()13 (i)13 (.)13 (e)13 (.)12.9 ( )0.5 (t)0.5 (he)13 ( )0.5 (T)0.5 (a)0.5 (rg)0.5 (e)0.5 (t)13 ( C)0.5 (o)0.5 (m)0.5 (pa)0.5 (n)0.5 (y)13 (\))12.9 ( )0.5 (i)0.5 (s)13 ( a)13 ( )0.5 (l)0.5 (im)0.5 (i)0.5 (t)0.5 (ed)13 ( )0.5 (l)0.5 (ia)0.5 (b)0.5 (i)0.5 (li)0.5 (t)0.5 (y)51.9 ( )]TJ 0.046 Tc 0 -1.231 Td [(company)12.8 ( established)12.8 ( in)12.8 ( the)12.8 ( People)12.8 (\222)12.8 (s)12.8 ( Republic)12.8 ( of)12.8 ( China)12.8 ( on)12.8 ( 2)12.8 (9)12.8 ( November)21 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (2016, the basic information of which is as follows:)Tj 0 -2.462 Td (Registered Address:)Tj 0.073 Tw 15.263 0 Td (18th Floor, Building 2, No. 399, Middle )Tj 0.103 Tc 0.07 Tw 1.09 -1.231 Td [(J)0.5 (ian)0.5 (gd)0.5 (ong)13 ( R)0.5 (oad)13 (,)12.9 ( J)0.5 (ia)0.5 (ny)0.5 (e)12.9 ( )0.5 (Di)0.5 (str)0.5 (ic)0.5 (t)12.9 (,)78 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.231 Td (Nanjing)Tj 0 Tw -16.354 -2.462 Td (Business Nature:)Tj 0.166 Tc 0.07 Tw 15.263 0 Td [(limited)12.6 ( liability)12.5 ( company)12.6 ( \()12.5 (sole)141.1 ( )]TJ 0.043 Tc 1.09 -1.231 Td [(proprietorship)12.6 ( invested)12.6 ( or)12.6 ( controlled)18 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (by a non-natural person\))Tj -16.354 -2.462 Td (Legal Representative:)Tj 15.263 0 Td (Li Jianfeng)Tj -15.263 -2.462 Td (Registered Capital:)Tj 0.047 Tc 0.083 Tw 15.263 0 Td [(R)-12.5 (M)-12.6 (B2,000,000,000 \(p)-12.5 (a)-12.5 (i)-12.6 (d-i)-12.6 (n )0.5 (c)-12.5 (a)-12.6 (p)-12.5 (i)-12.5 (t)-12.6 (a)-12.5 (l o)-12.5 (f)22 ( )]TJ 0.025 Tc -0.025 Tw 1.09 -1.231 Td (RMB1,724,000,000\))Tj 0 Tw -16.354 -2.462 Td (Business Scope:)Tj -0.002 Tc 15.263 0 Td [(Photovoltaic power generation, wind power)-2 ( )]TJ -0.004 Tc 1.09 -1.231 Td [(generation; investment, development and)-4 ( )]TJ 0.02 Tc 0.07 Tw 0 -1.231 Td [(operation)12.2 ( management)12.2 ( of)12.2 ( photovoltaic)20.1 ( )]TJ 0.082 Tc 0 -1.231 Td [(power)12.5 ( generation)12.4 ( and)12.4 ( wind)12.4 ( power)82 ( )]TJ 0.026 Tc 0 -1.231 Td [(generation)12.6 (;)12.7 ( energy)12.6 ( saving)12.7 ( technology)12.6 (,)26 ( )]TJ 0.062 Tc 0 -1.231 Td [(new)12.9 ( energy)12.8 ( technology)12.8 ( investment)12.8 (,)62 ( )]TJ 0.081 Tc 0 -1.231 Td [(development)12.3 (,)12.2 ( technology)12.3 ( transfer)12.3 (,)81 ( )]TJ 0.069 Tc 0 -1.231 Td [(technical)12.5 ( consultation)12.4 (;)12.4 ( investment)12.5 (,)69 ( )]TJ 0.054 Tc 0 -1.231 Td [(research)12.2 ( and)12.1 ( development)12.1 ( and)12.1 ( sales)54 ( )]TJ 0.077 Tc 0 -1.231 Td [(of)12.6 ( power)12.6 ( equipment)12.6 ( and)12.6 ( electrical)77 ( )]TJ 0.003 Tc 0.08 Tw 0 -1.231 Td [(equipment)3 (;)3 ( )0.5 (investment)3 ( )0.5 (consulting)3 (;)3 ( )0.5 (asset)3 ( )]TJ 0.037 Tc 0.07 Tw 0 -1.231 Td [(management)12.7 (.)12.6 ( \()12.6 (For)12.7 ( projects)12.7 ( subject)12.7 ( to)37 ( )]TJ 0.054 Tc 0 -1.231 Td [(approval)12.6 ( according)12.6 ( to)12.5 ( law)12.6 (,)12.6 ( business)54 ( )]TJ 0.023 Tc 0 -1.231 Td [(activities)12.3 ( can)12.4 ( only)12.4 ( be)12.3 ( carried)12.3 ( out)12.3 ( after)23 ( )]TJ 0 Tc 0 Tw 0 -1.231 Td (approval by relevant departments\))Tj ET endstream endobj 123 0 obj <>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 12 \226)Tj ET q 0 Tc 0 g /GS1 gs 0 TL/Fm0 Do Q BT 13 0 0 13 113.3858 770.8479 Tm (Revenue from operations in the )Tj 1.09 -1.231 Td (latest accounting period \(2021\):)Tj -0.025 Tw 14.173 0 Td (RMB57,417,140,000)Tj 0 Tc 0 Tw 7.579 0 0 7.579 427.4847 760.0479 Tm (#)Tj 0.025 Tc 13 0 0 13 113.3858 722.8479 Tm (Net profit in the latest accounting )Tj 1.09 -1.231 Td (period \(2021\):)Tj -0.025 Tw 14.173 0 Td (RMB16,765,631,000)Tj 0 Tc 0 Tw 7.579 0 0 7.579 427.4847 712.0479 Tm (#)Tj 0.026 Tc 0.082 Tw 11 0 0 11 113.3858 678.4988 Tm [(*)1 ( )-1694 (The)1 ( )0.5 (ultimate)1.1 ( )0.5 (owner)1 ( )0.5 (of)1 ( )0.5 (Jiangsu)1 ( )0.5 (Communications)1 ( )0.5 (Holding)1 ( )0.5 (is)1 ( )0.5 (the)1 ( )0.5 (State)1 (-)1 (owned)1 ( )0.5 (Assets)1 ( )]TJ 0.025 Tc 0.024 Tw 2.577 -1.273 Td [(Supervision )0.5 (and Administration )0.5 (Commission of )0.5 (the )0.5 (People\222s )0.5 (Government )0.5 (of )0.6 (Jiangsu )]TJ -0.025 Tw 0 -1.273 Td (Province)Tj 0 Tc 0 Tw 6.413 0 0 6.413 113.3858 626.8989 Tm (#)Tj 0.052 Tc 0.07 Tw 11 0 0 11 116.7526 622.4988 Tm [( )-1898.9 (Jiangsu)12.8 ( Communications)12.8 ( Holding)12.7 (\222)12.8 (s)12.8 ( audited)12.8 ( financial)12.8 ( statements)12.8 ( dated)12.7 ( 2)12.8 (5)12.8 ( April)27 ( )]TJ 0.041 Tc 2.271 -1.273 Td [(2)12.9 (0)12.9 (2)12.9 (2)13 ( by)12.9 ( Zh)0.5 (ongxingh)0.5 (ua)12.9 ( Ce)0.5 (rtifie)0.5 (d)12.9 ( Public)13 ( Ac)0.5 (counta)0.5 (nts)12.9 ( LL)0.5 (P)12.9 ( in)12.9 ( a)0.5 (ccord)0.5 (ance)13 ( with)12.9 ( )0.5 (the)16 ( )]TJ 0.025 Tc 0 Tw 0 -1.273 Td (Accounting Standards for Business Enterprises of the PRC)Tj 0.093 Tc 0.07 Tw 13 0 0 13 113.3858 562.4989 Tm [(Jiangsu)12.3 ( Communications)12.3 ( Holding)12.3 ( is)12.3 ( Jiangsu)12.3 ( Province)12.3 (\222)12.3 (s)12.4 ( provincial)68 ( )]TJ 0.056 Tc 0 -1.231 Td [(investment)12.1 ( and)12.1 ( financing)12.1 ( platform)12.1 ( for)12.1 ( key)12.1 ( transportation)12 ( infrastructure)31 ( )]TJ 0.065 Tc 0 -1.231 Td [(cons)0.5 (truction)13 ( projec)0.5 (ts)12.9 (.)12.9 ( It)12.9 ( )0.5 (mainly)12.9 ( u)0.5 (nderta)0.5 (kes)12.9 ( four)13 ( respo)0.5 (nsibilitie)0.5 (s)12.9 (:)12.9 ( firs)0.5 (t)12.9 (,)40 ( )]TJ 0.05 Tc 0 -1.231 Td [(to)12.9 ( be)12.8 ( responsible)12.8 ( for)12.9 ( the)12.9 ( investment)12.9 ( and)12.8 ( financing)12.8 ( of)12.9 ( key)12.9 ( transportation)25 ( )]TJ 0.026 Tc 0.082 Tw 0 -1.231 Td [(infrastructure)1 ( )0.5 (construction)1 ( )0.5 (projects)1.1 ( )0.5 (such)1 ( )0.5 (as)1 ( )0.5 (expressways)1 (,)1 ( )0.5 (railways)1 (,)1 ( )0.5 (airports)1 (,)1 ( )]TJ 0.027 Tc 0.081 Tw 0 -1.231 Td [(and)2 ( )0.5 (ports)2 ( )0.5 (in)2 ( )0.5 (the)2.1 ( province)2 (.)2 ( By)2 ( )0.5 (the)2 ( )0.5 (end)2 ( )0.5 (of)2 ( )0.5 (2)2 (0)2 (2)2 (1)2 (,)2 ( the)2 ( )0.5 (accumulative)2 ( )0.5 (completed)2 ( )]TJ 0.075 Tc 0.07 Tw 0 -1.231 Td [(investment)12.5 ( tasks)12.6 ( amounted)12.5 ( to)12.6 ( RMB)12.6 (4)12.5 (1)12.5 (2)12.5 (.)12.5 (2)12.6 ( billion)12.5 (;)12.5 ( of)12.5 ( which)12.5 (,)12.6 ( RMB)12.5 (3)12.5 (2)12.5 (6)50 ( )]TJ 0.069 Tc 0 -1.231 Td [(billion)12.5 ( for)12.5 ( expressways)12.5 (,)12.5 ( RMB)12.5 (7)12.5 (2)12.5 (.)12.5 (3)12.5 ( billion)12.5 ( for)12.5 ( railways)12.5 (,)12.5 ( and)12.5 ( RMB)12.5 (1)12.5 (3)12.5 (.)12.5 (9)44 ( )]TJ 0.044 Tc 0 -1.231 Td [(billion)12.4 ( for)12.4 ( ports)12.4 (,)12.4 ( airports)12.4 ( and)12.4 ( others)12.4 (.)12.4 ( Second)12.3 (,)12.4 ( is)12.5 ( to)12.4 ( be)12.4 ( responsible)12.4 ( for)12.4 ( the)19 ( )]TJ 0.029 Tc 0.079 Tw 0 -1.231 Td [(investment)4 ( )0.5 (tasks)4 ( )0.5 (of)4.1 ( )0.5 (the)4 ( )0.5 (provincial)4 ( )0.5 (railway)4 ( )0.5 (group)4 (,)4 ( )0.6 (the)4 ( )0.5 (provincial)4 ( )0.5 (port)4 ( )0.5 (group)4 ( )]TJ 0.061 Tc 0.07 Tw 0 -1.231 Td [(and)12.7 ( the)12.7 ( eastern)12.6 ( airport)12.6 ( group)12.6 (.)12.7 ( Currently)12.6 (,)12.7 ( accounting)12.6 ( for)12.7 ( 9)12.6 (6)12.7 (.)12.7 (2)12.6 (5)12.7 (%)12.6 ( of)12.6 ( the)36.1 ( )]TJ 0.038 Tc 0 -1.231 Td [(p)0.5 (r)0.5 (o)0.5 (vi)0.5 (n)0.5 (c)0.5 (i)0.5 (a)0.5 (l)13 ( )0.5 (r)0.5 (a)0.5 (i)0.5 (lw)0.5 (a)0.5 (y)13 ( )0.5 (g)0.5 (r)0.5 (o)0.5 (u)0.5 (p)13 (;)12.9 ( )0.5 (2)13 (9)13 (.)13 (6)13 (4)13 (%)13 ( o)0.5 (f)13 ( )0.5 (t)0.5 (h)0.5 (e)13 ( )0.5 (p)0.5 (r)0.5 (ov)0.5 (i)0.5 (n)0.5 (c)0.5 (i)0.5 (a)0.5 (l)13 ( )0.5 (p)0.5 (or)0.5 (t)13 ( )0.5 (g)0.5 (r)0.5 (o)0.5 (up)13 (;)13 ( )0.5 (a)0.5 (n)0.5 (d)13 ( )0.5 (2)13 (7)13 (.)12.9 (3)13 (%)13 ( )]TJ 0.054 Tc 0 -1.231 Td [(of)12.6 ( the)12.6 ( eastern)12.6 ( airport)12.6 ( group)12.6 (.)12.6 ( Third)12.6 (,)12.6 ( to)12.6 ( be)12.6 ( responsible)12.6 ( for)12.6 ( the)12.6 ( province)12.6 (\222)12.6 (s)29 ( )]TJ 0.05 Tc 0 -1.231 Td [(expressways)12.2 (,)12.2 ( the)12.2 ( operation)12.1 ( and)12.2 ( management)12.2 ( of)12.2 ( bridges)12.1 ( across)12.2 ( the)12.2 ( river)12.2 (.)25 ( )]TJ 0.051 Tc 0 -1.231 Td [(Managing)12.5 ( 8)12.5 (8)12.5 (%)12.5 ( of)12.5 ( expressways)12.5 ( in)12.5 ( the)12.5 ( province)12.6 (,)12.4 ( with)12.5 ( a)12.5 ( mileage)12.5 ( of)12.5 ( 4)12.4 (,)12.5 (3)12.5 (8)12.5 (1)26 ( )]TJ 0.031 Tc 0.077 Tw 0 -1.231 Td [(k)6 (.)6 (m)6 (.)6 (,)6 ( )0.5 (including)6 ( )0.5 (7)6 ( )0.5 (cross)6 (-)6 (river)6 ( )0.5 (bridges)6 ( )0.5 (\()6 (respectively)6.1 ( )0.5 (Jiangyin)6 ( )0.5 (Bridge)6 (,)6 ( )0.5 (Sutong)6.1 ( )]TJ 0.025 Tc 0.014 Tw 0 -1.231 Td (Bridge, Runyang Bridge, Taizhou Bridge, Chongqi Bridge, Shanghai-Sutong \ )Tj 0.052 Tc 0.07 Tw 0 -1.231 Td [(Y)0.5 (a)0.6 (n)0.5 (g)0.5 (t)0.6 (z)0.5 (e)13.1 ( )0.5 (R)0.5 (i)0.6 (v)0.5 (e)0.5 (r)13.1 ( )0.5 (R)0.5 (a)0.6 (i)0.5 (l)0.5 (w)0.6 (a)0.5 (y)13.1 ( )0.5 (B)0.5 (r)0.6 (i)0.5 (d)0.5 (g)0.5 (e)13.1 (,)13 ( )0.5 (W)0.6 (u)0.5 (f)0.5 (e)0.6 (n)0.5 (g)0.6 (s)0.5 (h)0.5 (a)0.6 (n)0.5 (Y)0.5 (a)0.6 (n)0.5 (g)0.5 (t)0.6 (z)0.5 (e)13 ( )0.6 (R)0.5 (i)0.5 (v)0.6 (e)0.5 (r)13 ( )0.6 (B)0.5 (r)0.5 (i)0.6 (d)0.5 (g)0.5 (e)13.1 (\))13 (,)13.1 ( )0.5 (3)13 (6)13 (4)27 ( )]TJ 0 -1.231 Td [(toll)12.7 ( stations)12.8 ( and)12.8 ( 9)12.8 (7)12.7 ( pairs)12.7 ( of)12.7 ( service)12.8 ( areas)12.8 (.)12.8 ( Fourth)12.8 (,)12.7 ( is)12.7 ( to)12.8 ( make)12.7 ( use)12.8 ( of)12.8 ( the)27 ( )]TJ 0.025 Tc 0.051 Tw 0 -1.231 Td (main business of transportation, and be responsible for the asset and ma\ rket )Tj 0.048 Tc 0.07 Tw 0 -1.231 Td [(op)0.5 (er)0.5 (ati)0.5 (on)13 ( an)0.5 (d)12.9 ( )0.5 (ma)0.5 (nag)0.5 (em)0.5 (ent)13 ( o)0.5 (f)12.9 ( r)0.5 (el)0.5 (ev)0.5 (ant)13 ( c)0.5 (omp)0.5 (et)0.5 (iti)0.5 (ve)13 ( en)0.5 (te)0.5 (rpr)0.5 (is)0.5 (es)13 ( in)0.5 (vo)0.5 (lvin)0.5 (g)23 ( )]TJ 0.051 Tc 0 -1.231 Td [(financial)12.5 ( investment)12.5 (,)12.5 ( power)12.5 ( and)12.5 ( energy)12.5 (,)12.5 ( passenger)12.5 ( transportation)12.5 (,)12.5 ( smart)26 ( )]TJ 0.027 Tc 0.081 Tw 0 -1.231 Td [(transportation)2 (,)2 ( )0.5 (cultural)2 ( )0.5 (media)2 (,)2 ( )0.5 (etc)2.1 (.)1.9 (.)2 ( )0.5 (At)2 ( )0.5 (present)2 (,)1.9 ( )0.5 (there)2 ( )0.5 (are)2 ( )0.5 (3)2 (3)2 ( )0.5 (enterprises)2 ( )0.5 (and)2 ( )]TJ 0.025 Tc 0.031 Tw 0 -1.231 Td (institutions under its supervision, with about 28,000 employees; and it \ holds )Tj 0.042 Tc 0.07 Tw 0 -1.231 Td [(2)12.8 ( listed)12.7 ( companies)12.8 (,)12.8 ( namely)12.8 ( the)12.8 ( Company)12.7 ( \()12.8 (6)12.8 (0)12.8 (0)12.8 (3)12.8 (7)12.8 (7)12.8 (.)12.7 (SH)12.8 (;)12.8 ( 0)12.8 (1)12.8 (7)12.8 (7)12.8 (.)12.8 (HK)12.8 (\))12.8 (,)12.8 ( Jiangsu)17 ( )]TJ 0.025 Tc 0.153 Tw 0 -1.231 Td [(Financial )153 (Leasing )153 (Co., )153 (Ltd. )-207.5 (\()-70.8 (6)-70.8 (0)-70.9 (0)-70.8 (9)-70.9 (0)-70.8 (1)-70.8 (.)-70.9 (S)-83.3 (H)-70.8 (\))-70.9 (.)-70.8 ( A)-83.4 (s)-70.8 ( o)-83.4 (f)-70.8 ( t)-83.3 (h)-83.3 (e)-70.9 ( e)-83.3 (n)-83.4 (d)-70.8 ( o)-83.4 (f)-70.8 ( 2)-70.8 (0)-70.8 (2)-70.9 (1)-70.8 (,)-70.9 ( t)-83.3 (h)-83.4 (e )]TJ 0.039 Tc 0.07 Tw 0 -1.231 Td [(group)12.7 (\222)12.8 (s)12.8 ( total)12.8 ( assets)12.8 ( and)12.8 ( net)12.8 ( assets)12.7 ( were)12.8 ( RMB)12.8 (6)12.8 (9)12.7 (5)12.8 (.)12.8 (7)12.7 ( billion)12.8 ( and)12.8 ( RMB)12.8 (2)12.7 (7)12.8 (9)12.8 (.)12.7 (3)14 ( )]TJ 0.025 Tc 0.003 Tw 0 -1.231 Td (billion, representing an increase of 11.86% and 10.53% respectively over\ the )Tj 0.031 Tw 0 -1.231 Td (previous year. In 2021, the group\222s operating income and total profit\ will be )Tj 0.029 Tc 0.079 Tw 0 -1.231 Td [(R)0.5 (M)0.5 (B)4 (5)4 (7)4 (.)4.1 (4)4 ( )0.5 (b)0.5 (i)0.5 (l)0.5 (l)0.5 (i)0.5 (o)0.5 (n)4 ( )0.5 (a)0.5 (n)0.5 (d)4 ( )0.5 (R)0.5 (M)0.5 (B)4 (1)4 (6)4.1 (.)4 (8)4 ( )0.5 (b)0.5 (i)0.5 (l)0.5 (l)0.5 (i)0.5 (o)0.5 (n)4 ( )0.5 (r)0.5 (e)0.5 (s)0.5 (p)0.5 (e)0.6 (c)0.5 (t)0.5 (i)0.5 (v)0.5 (e)0.5 (l)0.5 (y)4 (,)4 ( )0.5 (a)0.5 (n)4 ( )0.5 (i)0.5 (n)0.5 (c)0.6 (r)0.5 (e)0.5 (a)0.5 (s)0.5 (e)4 ( )0.5 (o)0.5 (f)4 ( )0.6 (3)3.9 (0)4.1 (.)4 (1)4 (6)4 (%)4 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (and 61.54% respectively over the previous year.)Tj ET endstream endobj 122 0 obj <>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 281.8878 18.7502 Tm (\226 11 \226)Tj ET q 0 Tc 0 g /GS1 gs 0 TL/Fm0 Do Q BT /T1_1 1 Tf 0.039 Tw 13 0 0 13 56.6929 776.409 Tm [(II. )-763.5 (BASIC INFORMATION OF THE PARTIES TO THE EQUITY TRANSFER )]TJ -0.025 Tw 2.181 -1.231 Td (AGREEMENT)Tj 0 Tw 0 -2.462 Td [(1. )-830.5 (The Company)]TJ /T1_0 1 Tf 0.047 Tw 2.18 -2.462 Td (The Company is mainly engaged in construction, management, maintenance )Tj 0.019 Tw 0 -1.231 Td (and collection of tolls of roads and expressways in Jiangsu Province, as\ well )Tj 0 Tw 0 -1.231 Td (as related ancillary services.)Tj 0 Tc 0 -1.231 Td ( )Tj /T1_1 1 Tf 0.025 Tc -2.18 -1.231 Td [(2. )-830.5 (Jiangsu Communications Holding)]TJ /T1_0 1 Tf 2.18 -2.462 Td (The basic information of Jiangsu Communications Holding is as follows:)Tj 0 -2.462 Td (Registered Address:)Tj 15.263 0 Td (No. 291 Zhongshan Eastern Road, )Tj 1.09 -1.231 Td (Nanjing City/A2/F, Zijin Finance )Tj 0 -1.231 Td (Zone, No. 399 Jiangdong Central )Tj 0 -1.231 Td (Road, Nanjing City)Tj -16.354 -2.462 Td (Business Nature: )Tj 15.263 0 Td (Limited liability company \(wholly )Tj -0.025 Tw 1.09 -1.231 Td (state-owned\)*)Tj 0 Tw -16.354 -2.462 Td (Legal Representative:)Tj 15.263 0 Td (Cai Renjie)Tj -15.263 -2.462 Td (Registered Capital:)Tj -0.025 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Acquisition Rights)Tj /T1_0 1 Tf 0.03 Tc 0.078 Tw 13 0 0 13 113.3858 744.409 Tm [(Jiangsu)5 ( )0.5 (Communications)5 ( )0.5 (Holding)5 ( )0.5 (undertakes)5 ( )0.5 (that)5 ( )0.5 (for)5 ( )0.5 (so)5 ( )0.5 (long)5 ( )0.5 (as)5 ( )0.5 (it)5 ( )0.5 (remains)5 ( )]TJ 0.058 Tc 0.07 Tw 0 -1.231 Td [(a)13 ( )0.5 (s)0.6 (h)0.5 (a)0.5 (r)0.5 (e)0.6 (h)0.5 (o)0.5 (l)0.5 (d)0.5 (e)0.5 (r)13 ( )0.6 (o)0.5 (f)13 ( )0.5 (t)0.5 (h)0.5 (e)13.1 ( )0.5 (C)0.5 (o)0.5 (m)0.5 (p)0.5 (a)0.5 (n)0.6 (y)13 (,)13 ( )0.5 (w)0.5 (h)0.5 (e)0.6 (n)13 ( )0.5 (J)0.5 (i)0.5 (a)0.6 (n)0.5 (g)0.5 (s)0.5 (u)13 ( )0.5 (C)0.5 (o)0.6 (m)0.5 (m)0.5 (u)0.5 (n)0.5 (i)0.5 (c)0.5 (a)0.6 (t)0.5 (i)0.5 (o)0.5 (n)0.5 (s)13 ( )0.5 (H)0.6 (o)0.5 (l)0.5 (d)0.5 (i)0.5 (n)0.5 (g)33 ( )]TJ 0.025 Tc 0.055 Tw 0 -1.231 Td (\(including its subordinates but excluding the Group and Nantong Tianshe\ ng )Tj 0.028 Tc 0.08 Tw 0 -1.231 Td [(Port)3 ( )0.5 (Company)3 (\))3.1 ( )0.5 (intends)3.1 ( )0.5 (to)3 ( )0.5 (sell)3 ( )0.5 (its)3 ( )0.5 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(nsheng)12.9 ( Po)0.5 (rt)12.9 ( Elec)0.5 (tricity)13 ( Company)13 ( Limite)0.5 (d)12.9 ( \()12.9 (here)0.5 (inafte)0.5 (r)12.9 ( refe)0.5 (rred)12.9 ( t)0.5 (o)12.9 ( as)30 ( )]TJ 0 Tc 0 Tw 0 -1.231 Td (\223)Tj /T1_1 1 Tf 0.046 Tc 0.07 Tw 0.478 0 Td [(Nantong)12.5 ( Tiansheng)12.5 ( Port)12.5 ( Company)]TJ /T1_0 1 Tf 16.458 0 Td [(\224)12.5 (\))12.5 ( which)12.4 ( engages)12.5 ( in)12.4 ( thermal)12.5 ( power)21.1 ( )]TJ 0.025 Tc 0.023 Tw -16.936 -1.231 Td (and Clean Energy Businesses, subject to Jiangsu Communications Holding\222\ s )Tj 0.059 Tc 0.07 Tw 0 -1.231 Td [(compliance)12.2 ( of)12.2 ( the)12.2 ( obligations)12.2 ( on)12.2 ( Business)12.2 ( Opportunity)12.2 ( Preference)12.2 ( and)34 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (Preferred Acquisition Rights. )Tj /T1_1 1 Tf 13 0 3.4833 13 112.0517 408.409 Tm (Business Opportunity Preference)Tj /T1_0 1 Tf 0 Tc 13 0 0 13 113.3858 392.409 Tm ( )Tj 0.03 Tc 0.078 Tw 0 -1.231 Td [(Jiangsu)5 ( )0.5 (Communications)5 ( )0.5 (Holding)5 ( )0.5 (undertakes)5 ( )0.5 (that)5 ( )0.5 (for)5 ( )0.5 (so)5 ( )0.5 (long)5 ( )0.5 (as)5 ( )0.5 (it)5 ( )0.5 (remains)5 ( )]TJ 0.025 Tc 0.054 Tw 0 -1.231 Td (a shareholder of the Company, Jiangsu Communications Holding \(including\ )Tj 0.064 Tc 0.07 Tw 0 -1.231 Td [(its)12.6 ( subordinates)12.5 ( but)12.5 ( excluding)12.5 ( the)12.6 ( Group)12.6 ( and)12.5 ( Nantong)12.6 ( Tiansheng)12.6 ( Port)39 ( )]TJ 0.045 Tc 0 -1.231 Td [(Company)12.4 (\))12.3 ( shall)12.3 ( promptly)12.3 ( inform)12.4 ( the)12.4 ( Company)12.4 ( and)12.4 ( YS)12.4 ( Energy)12.3 ( Company)20 ( )]TJ 0.025 Tc 0.045 Tw 0 -1.231 Td [(upon having knowledge that the business in which )0.5 (it )0.5 (participates constitutes )]TJ 0.066 Tw 0 -1.231 Td (direct or indirect competition with the Clean Energy Business of the Tar\ get )Tj 0.023 Tc 0 Tw 0 -1.231 Td [(Group, or discovers any potential business opportunities. If the Company\ and)-2 ( )]TJ 0.025 Tc 0.052 Tw 0 -1.231 Td (YS Energy Company decide to invest within 7 working days after receiving\ )Tj 0.039 Tc 0.07 Tw 0 -1.231 Td [(such)12.6 ( notice)12.6 (,)12.6 ( the)12.6 ( Company)12.6 ( and)12.6 ( YS)12.6 ( Energy)12.6 ( Company)12.6 ( shall)12.6 ( have)12.7 ( priority)12.6 ( to)14 ( )]TJ 0.04 Tc 0 -1.231 Td [(invest)12.9 (,)12.8 ( and)12.9 ( Jiangsu)12.8 ( Communications)12.9 ( Holding)12.9 ( should)12.9 ( actively)12.8 ( co)12.9 (-)12.9 (ordinate)12.9 (.)15 ( )]TJ 0.048 Tc 0 -1.231 Td [(Nevertheless)12.4 (,)12.5 ( the)12.5 ( participation)12.5 ( in)12.4 ( competitive)12.5 ( allocation)12.4 ( of)12.5 ( clean)12.4 ( energy)23 ( )]TJ 0.056 Tc 0 -1.231 Td [(projects)12.6 ( \()12.6 (such)12.6 ( as)12.6 ( offshore)12.7 ( wind)12.7 ( power)12.7 ( projects)12.6 (\))12.6 ( in)12.6 ( the)12.7 ( name)12.7 ( of)12.6 ( Jiangsu)31 ( )]TJ 0.022 Tc 0 Tw 0 -1.231 Td [(Communications Holding ultimately for YS Energy Company\222s investment \ is)-3 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.231 Td (excluded.)Tj ET endstream endobj 129 0 obj <>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 285.0378 18.7502 Tm (\226 8 \226)Tj ET q 0 Tc 0 g /GS1 gs 0 TL/Fm0 Do Q BT 0.063 Tw 13 0 0 13 113.3858 776.3179 Tm (The latest date for payment of the remaining Consideration \(i.e. 70% of\ the )Tj 0.059 Tw 0 -1.231 Td (Consideration\) \(hereinafter referred to as the \223)Tj /T1_1 1 Tf (Second Transfer Payment)Tj /T1_0 1 Tf -0.025 Tw (\224\) )Tj 0.057 Tc 0.07 Tw 0 -1.231 Td [(is)12.7 ( 3)12.7 (1)12.6 ( December)12.7 ( 2)12.7 (0)12.6 (2)12.7 (2)12.6 (.)12.7 ( Interest)12.7 ( shall)12.7 ( be)12.6 ( payable)12.6 ( on)12.6 ( the)12.6 ( Second)12.7 ( Transfer)32 ( )]TJ 0.025 Tc 0.031 Tw 0 -1.231 Td (Payment at the prevailing 1-year loan prime rate market quotation publis\ hed )Tj 0.063 Tw 0 -1.231 Td (by the National Interbank Funding Center \(authorised by the People\222s\ Bank )Tj 0.019 Tw 0 -1.231 Td (of China\) on the 20th day of each month during the deferred payment per\ iod )Tj 0.024 Tc 0 Tw 0 -1.231 Td [(which commences from the Completion Date and ends on the actual payment)-1 ( )]TJ 0.025 Tc 0 -1.231 Td (date of the Second Transfer Payment. )Tj /T1_1 1 Tf 1.106 Tw -2.18 -2.462 Td [(6. )0.5 (Completion)]TJ /T1_0 1 Tf 0.026 Tc 0.082 Tw 2.18 -2.462 Td [(Completion)1.1 ( )0.5 (of)1 ( )0.5 (the)1 ( )0.5 (Target)1 ( )0.5 (Equity)1 ( )0.5 (transfer)1 ( )0.5 (shall)1 ( take)1 ( )0.5 (place)1 ( )0.5 (within)1 ( )0.5 (5)1 ( )0.5 (working)1 ( )]TJ 0 -1.231 Td [(days)1 ( )0.6 (after)1 ( )0.5 (all)1.1 ( )0.5 (Conditions)1 ( )0.5 (Precedents)1 ( )0.5 (to)1 ( )0.5 (Completion)1 ( )0.5 (are)1 ( )0.5 (satisfied)1 ( )0.5 (\()1 (or)1 ( )0.5 (waived)1 ( )]TJ 0.042 Tc 0.07 Tw 0 -1.231 Td [(\()12.4 (if)12.4 ( applicable)12.5 (\))12.4 (.)12.4 ( The)12.4 ( Completion)12.5 ( Date)12.4 ( shall)12.4 ( be)12.4 ( the)12.4 ( date)12.5 ( on)12.4 ( which)12.4 ( the)12.4 ( First)17 ( )]TJ 0.052 Tc 0 -1.231 Td [(Transfer)12.6 ( Payment)12.6 ( is)12.6 ( remitted)12.7 ( to)12.6 ( the)12.6 ( designated)12.6 ( bank)12.6 ( account)12.6 ( of)12.6 ( Jiangsu)27 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (Communications Holding by the Company.)Tj /T1_1 1 Tf -2.18 -2.462 Td [(7. )-1105.5 (Arrangement on Related/Connected Loans)]TJ /T1_0 1 Tf 0.066 Tc 0.07 Tw 2.18 -2.462 Td [(Th)0.5 (e)12.9 ( )0.5 (Co)0.5 (mpa)0.5 (ny)13 ( un)0.5 (de)0.5 (rt)0.5 (ak)0.5 (es)13 ( th)0.5 (at)13 (,)12.9 ( f)0.5 (ro)0.5 (m)12.9 ( )0.5 (the)13 ( C)0.5 (om)0.5 (ple)0.5 (ti)0.5 (on)12.9 ( )0.5 (Da)0.5 (te)13 (,)12.9 ( )0.5 (it)12.9 ( )0.5 (wi)0.5 (ll)13 ( ta)0.5 (ke)41 ( )]TJ 0.025 Tc 0.013 Tw 0 -1.231 Td (necessary measures, including but not limited to providing shareholder l\ oans )Tj 0.05 Tc 0.07 Tw 0 -1.231 Td [(to)12.7 ( YS)12.7 ( Energy)12.7 ( Company)12.7 ( for)12.7 ( its)12.7 ( early)12.7 ( repayment)12.7 ( of)12.7 ( the)12.7 ( related)12.7 (/)12.8 (connected)25 ( )]TJ 0.04 Tc 0 -1.231 Td [(loans)12.2 (,)12.2 ( so)12.1 ( as)12.2 ( to)12.1 ( reduce)12.2 ( the)12.2 ( relevant)12.1 ( related)12.1 ( party)12.1 (/)12.2 (connected)12.2 ( transactions)12.2 ( of)15 ( )]TJ 0.025 Tc 0.044 Tw 0 -1.231 Td (the Target Group, Jiangsu Communications Holding shall provide necessary\ )Tj 0 Tw 0 -1.231 Td (cooperation in this regard. )Tj 0.09 Tc 0.07 Tw 0 -2.462 Td [(As)12.6 ( at)12.5 ( the)12.5 ( date)12.5 ( of)12.5 ( this)12.5 ( announcement)12.6 (,)12.5 ( the)12.6 ( aggregate)12.5 ( loan)12.5 ( amount)12.5 ( is)65 ( )]TJ 0.025 Tc 0.034 Tw 0 -1.231 Td (RMB560.716 million. The Company will provide YS Energy Company with )Tj 0 Tw 0 -1.231 Td (a shareholder loan of RMB560.716 million on the Completion Date.)Tj /T1_1 1 Tf -2.18 -2.462 Td [(8. )-1105.5 (Arrangement on Related/Connected Guarantee to Third Party)]TJ /T1_0 1 Tf 0.055 Tc 0.07 Tw 2.18 -2.462 Td [(Jiangsu)12.8 ( Communications)12.9 ( Holding)12.8 ( agreed)12.8 ( to)12.8 ( continue)12.8 ( the)12.8 ( provision)12.8 ( of)12.8 ( a)30 ( )]TJ 0.03 Tc 0.078 Tw 0 -1.231 Td [(guarantee)5 ( )0.5 (in)5 ( favour)5 ( )0.5 (of)5 ( )0.5 (State)5 ( )0.5 (Development)5 ( )0.5 (Bank)5 (,)5 ( )0.5 (Jiangsu)5 ( )0.5 (Branch)5 ( )0.5 (in)5 ( )0.5 (respect)5 ( )]TJ 0.025 Tc 0.034 Tw 0 -1.231 Td (of a loan \(with total credit of RMB4 billion\) granted to Rudong Compan\ y, a )Tj 0 Tw 0 -1.231 Td (72%-owned subsidiary of YS Energy Company, on the original terms. )Tj 0.051 Tc 0.07 Tw 0 -2.462 Td [(The)12.5 ( Company)12.5 ( undertakes)12.4 ( that)12.5 ( it)12.4 ( will)12.5 ( use)12.5 ( its)12.5 ( best)12.5 ( commercial)12.5 ( endeavour)26 ( )]TJ 0.037 Tc 0.071 Tw 0 -1.231 Td [(to)12 ( )0.5 (replace)12 ( )0.5 (Jiangsu)12 ( )0.6 (Communicatio)0.5 (ns)12 ( )0.5 (H)0.5 (olding)12 ( )0.5 (as)12 ( )0.5 (the)12 ( )0.5 (guarantor)12 ( )0.5 (of)12.1 ( )0.5 (such)12 ( )0.5 (loan)12 ( )]TJ 0.024 Tc 0 Tw 0 -1.231 Td [(within 1 year of the Completion Date. In case the creditor imposes addit\ ional)-1 ( )]TJ 0.067 Tc 0.07 Tw 0 -1.231 Td [(obligations)12.6 ( on)12.5 ( the)12.5 ( Company)12.6 (,)12.5 ( YS)12.5 ( Energy)12.5 ( Company)12.5 ( or)12.6 ( its)12.6 ( subsidiaries)12.5 (,)42 ( )]TJ 0.059 Tc 0 -1.231 Td [(the)12.6 ( Company)12.6 ( will)12.6 ( comply)12.6 ( with)12.6 ( the)12.6 ( relevant)12.6 ( approval)12.6 ( requirements)12.6 ( and)34 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (disclosure obligations.)Tj ET endstream endobj 128 0 obj <>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 285.0378 18.7502 Tm (\226 7 \226)Tj ET q 0 Tc 0 g /GS1 gs 0 TL/Fm0 Do Q BT 0.026 Tc 0.082 Tw 13 0 0 13 113.3858 776.3179 Tm [(The)1 ( )0.5 (profit)1 ( )0.5 (and)1.1 ( )0.5 (loss)1 ( )0.5 (realized)1 ( )0.5 (by)1 ( )0.5 (YS)1 ( )0.5 (Energy)1 ( )0.5 (Company)1 ( )0.5 (during)0.9 ( )0.6 (the)1 ( )0.5 (transaction)1 ( )]TJ 0.025 Tc 0.078 Tw 0 -1.231 Td (transition period \(from the Valuation Date to the Completion Date\) and\ the )Tj 0.033 Tc 0.075 Tw 0 -1.231 Td [(increase)8.1 ( )0.5 (or)8 ( )0.5 (decrease)8.1 ( )0.5 (in)8 ( )0.5 (net)8 ( )0.5 (assets)8.1 ( )0.5 (due)8 ( )0.5 (to)8 ( )0.5 (reasons)8.1 ( )0.5 (other)8 ( )0.5 (than)8 ( )0.5 (profit)8 ( )0.5 (and)8 ( )0.5 (loss)8 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (are all attributed to the Company.)Tj /T1_1 1 Tf 0.058 Tc 0.07 Tw -2.181 -2.462 Td [(4)33 (.)33 ( )-1002.5 (Conditions)12.3 ( Precedent)12.4 ( for)12.4 ( Completion)12.3 ( of)12.3 ( the)12.3 ( Transfer)12.4 ( of)12.4 ( the)12.4 ( Target)33 ( )]TJ 0.025 Tc -0.025 Tw 2.181 -1.231 Td (Equity)Tj /T1_0 1 Tf 0.055 Tc 0.07 Tw 0 -2.462 Td [(Completion)12.8 ( of)12.8 ( the)12.9 ( transfer)12.8 ( of)12.8 ( Target)12.8 ( Equity)12.8 ( is)12.8 ( subject)12.8 ( to)12.8 ( the)12.8 ( fulfilment)30 ( )]TJ 0 -1.231 Td [(\()13 (o)0.5 (r)13.1 ( )0.5 (w)0.5 (a)0.5 (i)0.5 (v)0.5 (e)0.6 (r)13 (,)13 ( )0.5 (a)0.5 (s)13 ( )0.6 (a)0.5 (p)0.5 (p)0.5 (l)0.5 (i)0.5 (c)0.6 (a)0.5 (b)0.5 (l)0.5 (e)13 (\))13 ( )0.6 (o)0.5 (f)13 ( )0.5 (t)0.5 (h)0.5 (e)13 ( )0.6 (c)0.5 (o)0.5 (n)0.5 (d)0.5 (i)0.5 (t)0.5 (i)0.6 (o)0.5 (n)0.5 (s)13 ( )0.5 (p)0.5 (r)0.5 (e)0.6 (c)0.5 (e)0.5 (d)0.5 (e)0.5 (n)0.6 (t)13 ( )0.5 (\()13 (t)0.5 (h)0.5 (e)13 ( )0.6 (\223)]TJ /T1_1 1 Tf -0.055 Tw 27.549 0 Td [(C)0.5 (o)0.5 (n)0.6 (d)0.5 (i)0.5 (t)0.5 (i)0.5 (o)0.5 (n)0.5 (s)30 ( )]TJ 0.025 Tc 0 Tw -27.549 -1.231 Td (Precedent to Completion)Tj /T1_0 1 Tf (\224\) set out below:)Tj 0.048 Tc 0.07 Tw 0 -2.462 Td [(\()23 (i)23 (\))23 ( )-793.5 (T)0.6 (h)0.5 (e)13 ( )0.5 (T)0.5 (a)0.6 (r)0.5 (g)0.5 (e)0.5 (t)13.1 ( )0.5 (E)0.5 (q)0.5 (u)0.5 (i)0.6 (t)0.5 (y)13 ( )0.5 (t)0.5 (r)0.5 (a)0.6 (n)0.5 (s)0.5 (f)0.5 (e)0.6 (r)13 ( )0.5 (h)0.5 (a)0.5 (v)0.6 (i)0.5 (n)0.5 (g)13 ( )0.5 (b)0.6 (e)0.5 (e)0.5 (n)13 ( )0.6 (i)0.5 (n)0.5 (t)0.5 (e)0.5 (r)0.6 (n)0.5 (a)0.5 (l)0.5 (l)0.5 (y)13 ( )0.6 (a)0.5 (p)0.5 (p)0.5 (r)0.6 (o)0.5 (v)0.5 (e)0.5 (d)13 ( )0.6 (\()13 (e)0.5 (x)0.5 (c)0.6 (e)0.5 (p)0.5 (t)23 ( )]TJ 0.071 Tc 2.181 -1.231 Td [(Condition)12.7 ( Precedent)12.6 ( to)12.7 ( Completion)12.6 ( \()12.6 (ii)12.6 (\))12.7 (\))12.6 ( by)12.6 ( parties)12.7 ( to)12.6 ( the)12.6 ( Equity)46 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (Transfer Agreement; )Tj 0.043 Tc 0.07 Tw -2.181 -2.462 Td [(\()18 (i)18 (i)18 (\))18 ( )-495.5 (The)12.1 ( Target)12.1 ( Equity)12.1 ( transfer)12.1 ( having)12.1 ( been)12.1 ( approved)12 ( by)12.1 ( the)12.1 ( Company)12.1 (\222)12.1 (s)18 ( )]TJ 0.069 Tc 2.181 -1.231 Td [(shareholders)12.4 ( at)12.5 ( general)12.4 ( meeting)12.5 ( \()12.5 (where)12.5 ( Jiangsu)12.4 ( Communications)44 ( )]TJ 0.044 Tc 0 -1.231 Td [(Holding)12.5 ( and)12.6 ( its)12.6 ( associates)12.5 ( \()12.5 (as)12.6 ( defined)12.6 ( under)12.6 ( the)12.6 ( Hong)12.5 ( Kong)12.5 ( Listing)19 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (Rules\) shall abstain from voting\); and )Tj 0.047 Tc 0.07 Tw -2.181 -2.462 Td [(\()22 (i)22 (i)22 (i)22 (\))22 ( )-188.5 (State)12.3 ( Development)12.3 ( Bank)12.3 (,)12.2 ( Jiangsu)12.3 ( Branch)12.3 (,)12.2 ( not)12.2 ( having)12.2 ( demanded)12.2 ( for)22 ( )]TJ 0.025 Tc 0.063 Tw 2.181 -1.231 Td (early repayment of the loan advanced to Rudong Company \(as defined )Tj 0.038 Tw 0 -1.231 Td (in Section III \223Information on Target Group\224 below\) due to the ch\ ange )Tj 0 Tw 0 -1.231 Td (of control of YS Energy Company. )Tj 0.088 Tc 0.07 Tw -2.181 -2.462 Td [(The)12.8 ( Company)12.8 ( may)12.8 ( waive)12.8 ( item)12.8 ( \()12.8 (iii)12.7 (\))12.8 ( of)12.8 ( the)12.8 ( Conditions)12.8 ( Precedent)12.8 ( on)63 ( )]TJ 0.036 Tc 0.072 Tw 0 -1.231 Td [(Co)0.5 (mplet)0.5 (ion)11 ( )0.5 (ab)0.5 (ove)11 (.)11 ( )0.5 (Th)0.5 (e)11 ( )0.5 (par)0.5 (ties)11 ( )0.5 (to)11 ( )0.5 (t)0.5 (he)11 ( )0.5 (Eq)0.5 (uity)11 ( )0.5 (Tr)0.5 (ans)0.5 (fer)11 ( )0.5 (Ag)0.5 (ree)0.5 (ment)11 ( )0.5 (s)0.5 (hall)11 ( )0.5 (t)0.5 (ry)11 ( )]TJ 0.038 Tc 0.07 Tw 0 -1.231 Td [(their)12.5 ( best)12.4 ( to)12.5 ( complete)12.5 ( their)12.5 ( respective)12.5 ( tasks)12.5 ( and)12.4 ( endeavour)12.5 ( to)12.5 ( confirm)12.5 ( the)13 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (completion date on or before 31 December 2022 and to complete.)Tj /T1_1 1 Tf -2.181 -2.462 Td [(5. )-1105.5 (Payment of the Consideration)]TJ /T1_0 1 Tf 0.031 Tc 0.077 Tw 2.181 -2.462 Td [(T)0.5 (h)0.5 (e)6 ( )0.5 (C)0.5 (o)0.5 (n)0.5 (s)0.5 (i)0.5 (d)0.5 (e)0.6 (r)0.5 (a)0.5 (t)0.5 (i)0.5 (o)0.5 (n)6 ( )0.5 (s)0.5 (h)0.5 (a)0.5 (l)0.5 (l)6 ( )0.5 (b)0.5 (e)6.1 ( )0.5 (p)0.5 (a)0.5 (i)0.5 (d)6 ( )0.5 (i)0.5 (n)6 ( )0.5 (c)0.5 (a)0.5 (s)0.5 (h)6 ( )0.5 (a)0.5 (n)0.6 (d)5.9 ( )0.5 (w)0.6 (i)0.5 (l)0.5 (l)6 ( )0.5 (b)0.5 (e)6 ( )0.5 (f)0.5 (u)0.5 (n)0.5 (d)0.5 (e)0.5 (d)6 ( )0.5 (b)0.5 (y)6 ( )0.5 (t)0.5 (h)0.5 (e)6.1 ( )0.5 (G)0.5 (r)0.5 (o)0.5 (u)0.5 (p)6 (')6 (s)6 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (own funds or financing funds in line with the use of funds. )Tj 0.07 Tc 0.07 Tw 0 -2.462 Td [(If)12 (,)12.1 ( prior)12.1 ( to)12 ( 3)12 (1)12.1 ( July)12.1 ( 2)12.1 (0)12 (2)12.1 (2)12.1 (,)12 ( all)12.1 ( Conditions)12 ( Precedent)12.1 ( to)12.1 ( Completion)12.1 ( are)45 ( )]TJ 0.052 Tc 0 -1.231 Td [(satisfied)12.7 ( \()12.7 (or)12.7 ( waived)12.7 (,)12.7 ( if)12.7 ( applicable)12.7 (\))12.7 (,)12.6 ( then)12.7 ( the)12.7 ( Company)12.6 ( shall)12.7 ( pay)12.7 ( 3)12.7 (0)12.7 (%)12.7 ( of)27 ( )]TJ 0 -1.231 Td [(t)0.5 (h)0.6 (e)13.1 ( )0.5 (C)0.6 (o)0.5 (n)0.6 (s)0.5 (i)0.6 (d)0.5 (e)0.6 (r)0.5 (a)0.6 (t)0.5 (i)0.6 (o)0.5 (n)13.1 ( )0.5 (\()13.1 (i)13 (.)13.1 (e)13 (.)13.1 ( )0.6 (R)0.5 (M)0.6 (B)13 (7)13.1 (3)13 (7)13.1 (.)13 (1)13 ( )0.6 (m)0.6 (i)0.5 (l)0.5 (l)0.6 (i)0.6 (o)0.5 (n)13 ( )0.6 (\()13.1 (h)0.5 (e)0.6 (r)0.5 (e)0.6 (i)0.5 (n)0.6 (a)0.5 (f)0.6 (t)0.5 (e)0.6 (r)13.1 ( )0.5 (r)0.6 (e)0.5 (f)0.6 (e)0.6 (r)0.5 (r)0.6 (e)0.5 (d)13.1 ( )0.5 (t)0.6 (o)13 ( )0.6 (a)0.5 (s)13.1 ( )0.5 (t)0.6 (h)0.5 (e)27.1 ( )]TJ 0 Tc 0 Tw 0 -1.231 Td (\223)Tj /T1_1 1 Tf 0.037 Tc 0.071 Tw 0.469 0 Td [(First)12 ( )0.5 (Transfer)12 ( )0.5 (Payment)]TJ /T1_0 1 Tf 11.035 0 Td [(\224)12 (\))12 ( )0.5 (to)12 ( )0.5 (Jiangsu)12 ( )0.5 (Communications)12 ( )0.5 (Holding)12 ( )0.5 (within)12.1 ( )0.5 (5)12 ( )]TJ 0.045 Tc 0.07 Tw -11.504 -1.231 Td [(business)12.2 ( days)12.2 ( after)12.2 ( all)12.2 ( Conditions)12.2 ( Precedent)12.2 ( to)12.2 ( Completion)12.3 ( are)12.2 ( satisfied)12.2 (.)20 ( )365 ( )]TJ 0.048 Tc 0 -1.231 Td [(Pursuant)12.7 ( to)12.7 ( the)12.8 ( Equity)12.7 ( Transfer)12.7 ( Agreement)12.7 (,)12.7 ( the)12.7 ( parties)12.8 ( to)12.7 ( the)12.7 ( agreement)23 ( )]TJ 0.025 Tc 0.012 Tw 0 -1.231 Td (agreed that the date the Company pays the First Transfer Payment to Jian\ gsu )Tj 0.031 Tc 0.077 Tw 0 -1.231 Td [(Communications)6 ( )0.5 (Holding)6 ( )0.5 (is)6 ( )0.5 (the)6.1 ( )0.5 (completion)6 ( )0.5 (date)6 ( )0.5 (\()6 (hereinafter)6 ( )0.5 (referred)6 ( )0.5 (to)6 ( )0.5 (as)6 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (the \223)Tj /T1_1 1 Tf (Completion Date)Tj /T1_0 1 Tf -0.025 Tw (\224\).)Tj ET endstream endobj 127 0 obj <>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 285.0378 18.7502 Tm (\226 6 \226)Tj ET q 0 Tc 0 g /GS1 gs 0 TL/Fm0 Do Q BT /T1_1 1 Tf 13 0 0 13 85.0394 776.409 Tm [(2. )-1105.5 (Equity Transfer)]TJ /T1_0 1 Tf 0.047 Tc 0.07 Tw 2.181 -2.462 Td [(Jiangsu)12.4 ( Communications)12.4 ( Holding)12.4 ( agreed)12.4 ( to)12.4 ( transfer)12.4 ( its)12.4 ( holding)12.4 ( of)12.5 ( 1)12.4 (0)12.4 (0)12.4 (%)22 ( )]TJ 0.028 Tc 0.08 Tw 0 -1.231 Td [(equity)3 ( )0.5 (interests)3.1 ( in)3 ( )0.5 (YS)3 ( )0.5 (Energy)3 ( )0.5 (Company)3 ( )0.5 (\()3 (hereinafter)3 ( )0.5 (referred)3 ( )0.5 (to)3 ( )0.5 (as)3 ( )0.5 (\223)]TJ /T1_1 1 Tf -0.028 Tw 29.68 0 Td [(Target)3 ( )]TJ 0.056 Tc -0.056 Tw -29.68 -1.231 Td (Equity)Tj /T1_0 1 Tf 0.07 Tw 3.213 0 Td [(\224)12.7 (\))12.6 ( to)12.7 ( the)12.6 ( Company)12.7 (.)12.6 ( After)12.7 ( completion)12.6 ( of)12.7 ( the)12.6 ( transfer)12.7 (,)12.6 ( YS)12.6 ( Energy)31 ( )]TJ 0.054 Tc -3.213 -1.231 Td [(Company)12.3 ( \()12.2 (together)12.2 ( with)12.2 ( its)12.3 ( 1)12.2 (0)12.3 ( subsidiaries)12.3 ( and)12.2 ( 3)12.3 ( associated)12.2 ( companies)29 ( )]TJ 0.025 Tc 0.041 Tw 0 -1.231 Td (collectively referred to as the \223)Tj /T1_1 1 Tf (Target Group)Tj /T1_0 1 Tf (\224\) will become a subsidiary of )Tj 0.08 Tw 0 -1.231 Td (the Company. For information on the Target Group, please refer to Sectio\ n )Tj 0 Tw 0 -1.231 Td (III \223Information on the Target Group\224 of this announcement. )Tj /T1_1 1 Tf -2.181 -2.462 Td [(3. )-1105.5 (Transfer Consideration and Bases of Pricing)]TJ /T1_0 1 Tf 0.03 Tc 0.078 Tw 2.181 -2.462 Td [(The)5 ( )0.5 (consideration)5 ( )0.5 (for)5 ( )0.5 (the)5 ( )0.5 (transfer)5 ( )0.5 (of)5.1 ( )0.5 (the)5.1 ( )0.5 (Target)4.9 ( )0.5 (Equity)5 ( )0.5 (shall)5 ( )0.5 (be)5 ( )0.5 (RMB)5 (2)5 (,)5 (4)5 (5)5 (7)5 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (million \(hereinafter referred to as the \223)Tj /T1_1 1 Tf -0.025 Tw (Consideration)Tj /T1_0 1 Tf (\224\).)Tj 0.054 Tc 0.07 Tw 0 -2.462 Td [(According)12.2 ( to)12.2 ( the)12.2 ( requirements)12.2 ( of)12.2 ( the)12.2 ( Measures)12.2 ( for)12.2 ( the)12.2 ( Supervision)12.2 ( and)29 ( )]TJ 0.043 Tc 0 -1.231 Td [(Administration)12.1 ( of)12.1 ( the)12.1 ( Transaction)12.1 ( on)12.1 ( State)12.1 (-)12.1 (Owned)12.1 ( Assets)12.1 ( of)12.1 ( Enterprises)12.1 (,)18 ( )]TJ 0.053 Tc 0 -1.231 Td [(the)12.2 ( Company)12.2 ( and)12.2 ( Jiangsu)12.1 ( Communications)12.2 ( Holding)12.2 ( adopted)12.2 ( non)12.2 (-)12.1 (public)28 ( )]TJ 0.025 Tc 0.083 Tw 0 -1.231 Td [(agreement )0.5 (transfer )0.5 (method )0.5 (to )0.5 (execute the )0.5 (transfer )0.5 (of )0.5 (title )0.5 (of )0.5 (assets, )0.5 (and )0.5 (the )]TJ 0.032 Tc 0.076 Tw 0 -1.231 Td [(consideration)7 ( )0.5 (for)7 ( )0.5 (the)7 ( )0.5 (transfer)7 ( )0.5 (of)7 ( )0.5 (property)7 ( )0.5 (rights)7 ( )0.5 (between)7 ( )0.5 (the)7 ( )0.5 (Company)7 ( )0.5 (and)7 ( )]TJ 0.056 Tc 0.07 Tw 0 -1.231 Td [(Jiangsu)12.2 ( Communications)12.2 ( Holding)12.2 ( shall)12.2 ( not)12.2 ( be)12.1 ( lower)12.2 ( than)12.1 ( the)12.1 ( valuation)31 ( )]TJ 0.055 Tc 0 -1.231 Td [(result)12.8 ( approved)12.8 ( by)12.8 ( or)12.8 ( filed)12.8 ( with)12.8 ( the)12.8 ( state)12.9 (-)12.8 (owned)12.8 ( assets)12.8 ( supervision)12.8 ( and)30 ( )]TJ 0.069 Tc 0 -1.231 Td [(management)12.6 ( department)12.7 (.)12.7 ( Jiangsu)12.7 ( Communications)12.7 ( Holding)12.7 ( appointed)44 ( )]TJ 0.025 Tc 0.017 Tw 0 -1.231 Td [(Beijing Tianjian Xingye Assets Valuation )0.5 (Co., )0.5 (Ltd. )0.5 (\(a valuation agency with )]TJ 0.045 Tc 0.07 Tw 0 -1.231 Td [(corresponding)12.6 ( qualifications)12.5 (\))12.6 ( to)12.6 ( conduct)12.6 ( an)12.6 ( asset)12.6 ( valuation)12.6 ( of)12.5 ( the)12.6 ( Target)20 ( )]TJ 0.037 Tc 0.071 Tw 0 -1.231 Td [(Equity)12 ( )0.5 (as)12 ( )0.5 (of)12 ( )0.5 (3)12 (1)12 ( )0.5 (December)12 ( )0.5 (2)12 (0)12 (2)12 (1)12 ( )0.5 (\()12 (hereinafter)12 ( )0.5 (referred)12 ( )0.5 (to)12 ( )0.5 (as)12 ( )0.6 (the)12 ( )0.5 (\223)]TJ /T1_1 1 Tf -0.037 Tw 28.19 0 Td [(Valuation)12 ( )]TJ 0.025 Tc -0.025 Tw -28.19 -1.231 Td (Date)Tj /T1_0 1 Tf 0.028 Tw (\224\). According to the asset valuation report \(Tianxing Pingbao Zi \(\ 2022\) )Tj 0.049 Tc 0.07 Tw 0 -1.231 Td [(No)12.8 (.)12.7 ( 0)12.7 (6)12.7 (5)12.7 (2)12.7 (\))12.8 ( \()12.7 (hereinafter)12.7 ( referred)12.7 ( to)12.7 ( as)12.7 ( the)12.7 ( \223)]TJ /T1_1 1 Tf 19.072 0 Td [(State)12.7 (-)12.7 (owned)12.7 ( Asset)12.7 ( Valuation)24 ( )]TJ 0.025 Tc -0.025 Tw -19.072 -1.231 Td (Report)Tj /T1_0 1 Tf 0.05 Tw (\224\), the value of the Target Equity is RMB2,346.million. The transfer\ )Tj 0.01 Tw 0 -1.231 Td [(consideration is )0.5 (based )0.5 (on )0.5 (the )0.5 (above-mentioned )0.5 (appraised value, )0.5 (and )0.5 (adjusted )]TJ 0.005 Tw 0 -1.231 Td (upward with the capital contribution of RMB111 million remitted by Jiang\ su )Tj 0 Tw 0 -1.231 Td (Communications Holding to YS Energy Company on 14 January 2022.)Tj 0.056 Tc 0.07 Tw 0 -2.462 Td [(The)12.3 ( Company)12.4 ( appointed)12.3 ( Kroll)12.4 ( \()12.3 (HK)12.4 (\))12.3 ( Limited)12.4 ( \()12.3 (hereinafter)12.3 ( referred)12.4 ( to)12.3 ( as)31 ( )]TJ 0 Tc 0 Tw 0 -1.231 Td (\223)Tj /T1_1 1 Tf 0.036 Tc -0.036 Tw 0.469 0 Td [(Kr)0.5 (o)0.5 (ll)]TJ /T1_0 1 Tf 0.072 Tw 2.445 0 Td [(\224)11 (,)11 ( )0.5 (a)0.5 (n)11 ( )0.5 (ind)0.5 (e)0.5 (pe)0.5 (nde)0.5 (nt)11.1 ( )0.5 (val)0.5 (ua)0.5 (ti)0.5 (on)11 ( )0.5 (a)0.5 (ge)0.5 (nc)0.5 (y)11 (,)11 ( )0.5 (fo)0.5 (rm)0.5 (er)0.5 (ly)11 ( )0.5 (k)0.5 (no)0.5 (wn)11 ( )0.5 (a)0.5 (s)11 ( )0.5 (D)11 (&)11 (P)11 ( )0.5 (C)0.5 (hin)0.5 (a)11 ( )]TJ 0.032 Tc 0.076 Tw -2.914 -1.231 Td [(\()7 (HK)7 (\))7 ( )0.5 (Limited)7 (\))7 ( )0.5 (to)7 ( )0.5 (assess)7 ( )0.5 (the)7 ( )0.5 (value)7 ( )0.6 (of)7 ( )0.5 (the)7 ( )0.5 (Target)7 ( )0.5 (Equity)7 ( )0.5 (in)7 ( )0.5 (accordance)7 ( )0.5 (with)7 ( )]TJ 0.058 Tc 0.07 Tw 0 -1.231 Td [(international)12.7 ( standards)12.8 ( and)12.8 ( requirements)12.7 ( \()12.7 (hereinafter)12.7 ( referred)12.7 ( to)12.8 ( as)12.7 ( the)33 ( )]TJ 0 Tc 0 Tw 0 -1.231 Td (\223)Tj /T1_1 1 Tf 0.038 Tc 0.07 Tw 0.469 0 Td [(V)0.5 (a)0.6 (l)0.5 (u)0.5 (a)0.6 (t)0.5 (i)0.5 (o)0.6 (n)13 ( )0.5 (R)0.5 (e)0.5 (p)0.6 (o)0.5 (r)0.5 (t)]TJ /T1_0 1 Tf 8.116 0 Td [(\224)13 (\))13 (.)13 ( )0.5 (T)0.6 (h)0.5 (e)13 ( )0.5 (p)0.5 (r)0.5 (e)0.6 (l)0.5 (i)0.6 (m)0.5 (i)0.5 (n)0.6 (a)0.5 (r)0.5 (y)13 ( )0.5 (a)0.6 (s)0.5 (s)0.5 (e)0.6 (s)0.5 (s)0.6 (m)0.5 (e)0.5 (n)0.6 (t)13 ( )0.5 (o)0.5 (f)13 ( )0.5 (t)0.5 (h)0.6 (e)13 ( )0.5 (f)0.5 (a)0.6 (i)0.5 (r)13 ( )0.5 (v)0.5 (a)0.6 (l)0.5 (u)0.5 (e)13 ( )0.5 (o)0.6 (f)13 ( )0.5 (t)0.5 (h)0.5 (e)13 ( )]TJ 0.06 Tc -8.585 -1.231 Td [(Target)12.6 ( Equity)12.6 ( as)12.6 ( of)12.6 ( the)12.6 ( Valuation)12.6 ( Date)12.7 ( is)12.6 ( RMB)12.6 (2)12.6 (,)12.6 (3)12.7 (5)12.6 (5)12.6 ( million)12.6 (,)12.6 ( which)12.6 ( is)35 ( )]TJ 0.033 Tc 0.075 Tw 0 -1.231 Td [(slightly)8 ( )0.5 (more)8 ( )0.5 (than)8 ( )0.5 (the)8 ( )0.5 (appraised)8 ( )0.5 (value)8 ( )0.5 (in)8.1 ( )0.5 (the)8 ( )0.5 (State)8.1 (-)8 (owned)8 ( )0.5 (Asset)8 ( )0.5 (Valuation)8 ( )]TJ 0.025 Tc 0.039 Tw 0 -1.231 Td (Report. The Valuation Report will be set out in the circular despatched \ to H )Tj -0.025 Tw 0 -1.231 Td (Shareholders.)Tj ET endstream endobj 5 0 obj </LastModified/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID/PageItemUIDToLocationDataMap<>/PageTransformationMatrixList<>/PageUIDList<>/PageWidthList<>>>>>/Resources<>/Font<>/ProcSet[/PDF/Text]/Properties<>>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page>> endobj 6 0 obj </LastModified/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID/PageItemUIDToLocationDataMap<>/PageTransformationMatrixList<>/PageUIDList<>/PageWidthList<>>>>>/Resources<>/Font<>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page>> endobj 7 0 obj </LastModified/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID/PageItemUIDToLocationDataMap<>/PageTransformationMatrixList<>/PageUIDList<>/PageWidthList<>>>>>/Resources<>/Font<>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page>> endobj 8 0 obj </LastModified/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID/PageItemUIDToLocationDataMap<>/PageTransformationMatrixList<>/PageUIDList<>/PageWidthList<>>>>>/Resources<>/Font<>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page>> endobj 9 0 obj </LastModified/NumberOfPageItemsInPage 1/NumberofPages 1/OriginalDocumentID/PageItemUIDToLocationDataMap<>/PageTransformationMatrixList<>/PageUIDList<>/PageWidthList<>>>>>/Resources<>/Font<>/ProcSet[/PDF/Text]>>/TrimBox[0.0 0.0 595.276 841.89]/Type/Page>> endobj 141 0 obj <>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 285.0378 18.7502 Tm (\226 5 \226)Tj /T1_1 1 Tf 13 0 3.4833 13 55.3588 776.409 Tm (Important Notes:)Tj /T1_0 1 Tf 0.062 Tc 0.07 Tw 0.66 -2.462 Td [(1)37 (.)37 ( )107 ( )-723.5 (Name)12.8 ( of)12.8 ( investment)12.8 ( target)12.9 (:)12.8 ( 1)12.8 (0)12.8 (0)12.8 (%)12.8 ( equity)12.8 ( of)12.8 ( Jiangsu)12.8 ( Yunshan)12.9 ( Clean)12.8 ( Energy)37 ( )]TJ 0.025 Tc 0 Tw 2.51 -1.231 Td (Investment Holding Co., Ltd.)Tj -1.521 -2.462 Td [(2. )-830.5 (Investment amount: RMB2,457 million.)]TJ 0.027 Tc 0.081 Tw 0.66 -2.462 Td [(3)2 (.)2 ( )83 ( )-747.5 (This)2 ( )0.5 (transaction)2 ( )0.5 (constitutes)2 ( )0.5 (a)2 ( )0.5 (relate)0.5 (d)1.9 ( )0.5 (party)2 ( )0.5 (transaction)2 (.)2 ( )0.5 (Jiangsu)2 ( )0.5 (Expressway)2 ( )0.5 (Co)2 (.)2 (,)2 ( )]TJ 0.044 Tc 0.07 Tw 2.51 -1.231 Td [(Ltd)12.4 (.)12.4 ( \()12.4 (hereinafter)12.5 ( referred)12.5 ( to)12.5 ( as)12.4 ( the)12.5 ( \223)]TJ /T1_1 1 Tf -0.044 Tw 13 0 0 13 295.9778 648.409 Tm (Company)Tj /T1_0 1 Tf 0.07 Tw 13 0 3.4833 13 352.6625 648.409 Tm [(\224)12.5 (\))12.4 ( and)12.4 ( Jiangsu)12.5 ( Communications)19 ( )]TJ 0.08 Tc -20.359 -1.231 Td [(Holding)12.1 ( Co)12.1 (.)12.1 (,)12.1 ( Ltd)12.1 (.)12.1 ( \()12.1 (hereinafter)12.1 ( referred)12.2 ( to)12.1 ( as)12.1 ( \223)]TJ /T1_1 1 Tf 22.335 0 Td [(Jiangsu)12.2 ( Communications)55 ( )]TJ 0.025 Tc -0.025 Tw -22.005 -1.231 Td (Holding)Tj /T1_0 1 Tf 0 Tw (\224\) have not had similar transactions in the past 12 months.)Tj 0.077 Tw -1.521 -2.462 Td [(4. )77 ( )-753.5 (This )0.5 (related )0.5 (party )0.5 (transaction )0.5 (does )0.5 (not )0.5 (constitute )0.5 (a major )0.6 (asset )0.5 (reorganization )0.5 (as )]TJ 0.006 Tw 2.51 -1.231 Td (stipulated in the Administrative Measures for Major Asset Restructuring \ of Listed )Tj -0.025 Tw 0.33 -1.231 Td (Companies. )Tj 0.07 Tc 0.07 Tw -1.521 -2.462 Td [(5)45 (.)45 ( )115 ( )-715.5 (Risk)12.2 ( warning)12.1 (:)12.2 ( There)12.2 ( may)12.2 ( be)12.2 ( business)12.2 ( development)12.2 ( risks)12.2 (,)12.1 ( policy)12.2 ( risks)12.2 ( and)45 ( )]TJ 0.04 Tc 2.51 -1.231 Td [(other)12.5 ( related)12.4 ( risks)12.4 ( in)12.4 ( this)12.4 ( transaction)12.5 (.)12.5 ( Investors)12.5 ( are)12.5 ( advised)12.5 ( to)12.5 ( pay)12.4 ( attention)12.5 ( to)15 ( )]TJ 0.025 Tc 0 Tw 0.33 -1.231 Td (investment risks.)Tj /T1_1 1 Tf 13 0 0 13 56.6929 456.409 Tm [(I. )-1216.5 (EQUITY TRANSFER AGREEMENT)]TJ /T1_0 1 Tf 0.044 Tc 0.07 Tw 2.181 -2.462 Td [(On)12.5 ( 2)12.5 (9)12.4 ( April)12.5 ( 2)12.4 (0)12.5 (2)12.5 (2)12.5 (,)12.5 ( with)12.5 ( a)12.5 ( view)12.5 ( to)12.4 ( optimize)12.5 ( the)12.5 ( Company)12.5 (')12.5 (s)12.5 ( industrial)12.5 ( structure)19 ( )]TJ 0.028 Tc 0.08 Tw 0 -1.231 Td [(layout)3 (,)3 ( )0.5 (open)3 ( )0.5 (up)3 ( )0.5 (new)3 ( )0.5 (profit)3 ( )0.5 (growth)3 ( )0.5 (points)3.1 (,)2.9 ( )0.6 (and)3 ( )0.5 (achieve)3 ( )0.5 (sustainable)3 ( )0.5 (development)3 (,)3 ( )]TJ 0.064 Tc 0.07 Tw 0 -1.231 Td [(t)0.6 (h)0.5 (e)13 ( )0.6 (C)0.5 (o)0.6 (m)0.5 (p)0.5 (a)0.6 (n)0.5 (y)13.1 ( )0.5 (\()13.1 (t)0.5 (o)0.5 (g)0.6 (e)0.5 (t)0.6 (h)0.5 (e)0.6 (r)13 ( )0.6 (w)0.5 (i)0.5 (t)0.6 (h)13 ( )0.6 (i)0.5 (t)0.5 (s)13.1 ( )0.5 (s)0.6 (u)0.5 (b)0.6 (s)0.5 (i)0.5 (d)0.6 (i)0.5 (a)0.6 (r)0.5 (i)0.6 (e)0.5 (s)13 (,)13.1 ( )0.5 (c)0.6 (o)0.5 (l)0.6 (l)0.5 (e)0.6 (c)0.5 (t)0.6 (i)0.5 (v)0.5 (e)0.6 (l)0.5 (y)13.1 ( )0.5 (r)0.6 (e)0.5 (f)0.5 (e)0.6 (r)0.5 (r)0.6 (e)0.5 (d)13.1 ( )0.5 (t)0.6 (o)13 ( )0.5 (a)0.6 (s)13 ( )0.6 (t)0.5 (h)0.6 (e)39 ( )]TJ 0 Tc 0 Tw 0 -1.231 Td (\223)Tj /T1_1 1 Tf 0.065 Tc -0.065 Tw 0.496 0 Td (Group)Tj /T1_0 1 Tf 0.07 Tw 3.145 0 Td [(\224)12.7 (\))12.8 ( \()12.8 (as)12.8 ( the)12.7 ( transferee)12.8 (\))12.7 ( and)12.7 ( Jiangsu)12.7 ( Communications)12.8 ( Holding)12.8 ( \()12.7 (as)12.7 ( the)40 ( )]TJ 0.025 Tc 0.071 Tw -3.642 -1.231 Td (transferor\) entered into the Equity Transfer Agreement, the main terms \ of which )Tj 0 Tw 0 -1.231 Td (are as follows:)Tj /T1_1 1 Tf 0 -2.462 Td [(1. )-1105.5 (Parties to the Agreement)]TJ /T1_0 1 Tf -0.025 Tw 2.18 -2.462 Td (Transferor:)Tj 0.032 Tc 0.076 Tw 10.902 0 Td [(Jiangsu)7 ( )0.5 (Communications)7 ( )0.5 (Holding)7 ( )0.5 (\()7 (the)7 ( )0.5 (controlling)7 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (shareholder of the Company\))Tj -0.025 Tw -10.902 -2.462 Td (Transferee:)Tj 0 Tw 10.902 0 Td (the Company)Tj -10.902 -2.462 Td (Target Company:)Tj 0.112 Tc 0.07 Tw 10.902 0 Td [(Jiangsu)12.7 ( Yunshan)12.7 ( Green)12.8 ( Energy)12.8 ( Investment)87 ( )]TJ 0.025 Tc 0.033 Tw 0 -1.231 Td (Holding Company, Limited \(hereinafter referred to )Tj 0 Tw 0 -1.231 Td (as \223)Tj /T1_1 1 Tf (YS Energy Company)Tj /T1_0 1 Tf -0.025 Tw (\224\))Tj ET endstream endobj 140 0 obj <>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 285.0378 18.7502 Tm (\226 4 \226)Tj ET 0 0 0 1 K 0.5 w /GS1 gs q 1 0 0 1 56.6929 784.9469 cm 0 0 m 482.39 0 l S Q q 1 0 0 1 56.9429 144.189 cm 0 0 m 0 640.508 l S Q q 1 0 0 1 538.8326 144.189 cm 0 0 m 0 640.508 l S Q q 1 0 0 1 56.6929 143.939 cm 0 0 m 482.39 0 l S Q BT /GS0 gs /T1_1 1 Tf 13 0 3.4833 13 92.4592 762.094 Tm (Continuing Connected Transactions with tenure more than 3 years)Tj /T1_0 1 Tf 0.019 Tc 13 0 0 13 93.7933 730.094 Tm [(The lease of land and rooftop of buildings to YS Energy Company by assoc\ iates)-6 ( )]TJ 0.05 Tc 0.07 Tw 0 -1.231 Td [(of)12.8 ( Jiangsu)12.7 ( Communications)12.7 ( Holding)12.8 ( for)12.8 ( the)12.8 ( construction)12.8 ( and)12.7 ( operation)12.8 ( of)25 ( )]TJ 0.049 Tc 0 -1.231 Td [(ph)0.5 (oto)0.5 (vol)0.5 (ta)0.5 (ic)12.9 ( )0.5 (po)0.5 (we)0.5 (r)12.9 ( g)0.5 (en)0.5 (era)0.5 (ti)0.5 (on)12.9 ( )0.5 (bu)0.5 (sin)0.5 (es)0.5 (s)12.9 ( \226)13 ( F)0.5 (oll)0.5 (owi)0.5 (ng)13 ( in)0.5 (dus)0.5 (try)13 ( p)0.5 (rac)0.5 (ti)0.5 (ce)13 (,)12.9 ( t)0.5 (he)24 ( )]TJ 0.025 Tc 0.051 Tw 0 -1.231 Td (term of the agreements are more than 3 years. Pursuant to Rule 14A.52 of\ the )Tj 0.006 Tw 0 -1.231 Td (Hong Kong Listing Rules, the Company must appoint an independent financi\ al )Tj 0.069 Tw 0 -1.231 Td (adviser to explain why the agreement requires a longer period and to con\ firm )Tj 0.04 Tc 0.07 Tw 0 -1.231 Td [(that)12.3 ( it)12.3 ( is)12.2 ( normal)12.3 ( business)12.2 ( practice)12.2 ( for)12.2 ( agreements)12.3 ( of)12.3 ( this)12.3 ( type)12.3 ( to)12.3 ( be)12.3 ( of)12.2 ( such)15 ( )]TJ 0.025 Tc 0.058 Tw 0 -1.231 Td (duration. It is expected that the aggregate transaction value in the sec\ ond half )Tj 0.044 Tc 0.07 Tw 0 -1.231 Td [(of)12.1 ( 2)12.1 (0)12.1 (2)12.2 (2)12.1 ( will)12.1 ( not)12.1 ( exceed)12.1 ( RMB)12.1 (2)12.1 (0)12.2 (0)12.1 (,)12.1 (0)12.1 (0)12.2 (0)12.1 ( and)12.1 ( the)12.2 ( annual)12.2 ( aggregate)12.2 ( transaction)19 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (value of the remaining term of the leases will not exceed RMB500,000.)Tj 0.04 Tc 0.07 Tw 0 -2.462 Td [(As)12.2 ( such)12.2 ( leases)12.3 ( are)12.3 ( conducted)12.3 ( on)12.3 ( normal)12.2 ( commercial)12.3 ( terms)12.3 ( or)12.3 ( better)12.3 ( and)12.3 ( all)15.1 ( )]TJ 0.057 Tc 0 -1.231 Td [(applicable)12.6 ( ratios)12.6 ( of)12.7 ( aggregate)12.6 ( annual)12.6 ( transaction)12.6 ( value)12.6 ( for)12.6 ( the)12.6 ( remaining)32 ( )]TJ 0.025 Tc 0.068 Tw 0 -1.231 Td (terms are less than 0.1%, such leases should be fully exempt from contin\ uing )Tj 0.017 Tw 0 -1.231 Td (connected transaction requirements pursuant to Rule 14A.76\(1\)\(a\) of \ the Hong )Tj 0 Tw 0 -1.231 Td (Kong Listing Rules.)Tj 0.044 Tw -2.181 -2.462 Td [(The above )0.5 (transactions constitute )0.5 (related party )0.5 (transactions of )0.5 (the )0.5 (Company. Given )]TJ 0.031 Tc 0.077 Tw 0 -1.231 Td [(the)6 ( )0.5 (total)6 ( )0.5 (amount)6 ( )0.5 (of)6 ( )0.5 (all)6 ( )0.5 (the)6 ( )0.5 (above)6 ( )0.5 (related)6 ( )0.5 (parties)6 ( )0.5 (transactions)6 ( )0.5 (after)6 ( )0.5 (the)6 ( )0.5 (Completion)6 ( )]TJ 0.035 Tc 0.073 Tw 0 -1.231 Td [(\()10 (together)10.1 ( )0.5 (with)10 ( )0.5 (the)10 ( )0.5 (same)10 ( )0.5 (type)10 ( )0.6 (of)10 ( )0.5 (business)10 ( )0.5 (provided)10 ( )0.5 (to)9.9 ( )0.6 (the)10 ( )0.5 (Group)10 (\))10 ( )0.5 (would)10 ( )0.5 (not)10 ( )0.5 (reach)10 ( )]TJ 0.025 Tc 0.053 Tw 0 -1.231 Td (0.5% of the absolute value of the Company\222s latest audited net assets\ , they do not )Tj 0.072 Tw 0 -1.231 Td (trigger and are exempt from the related parties transaction disclosure r\ equirements )Tj 0 Tw 0 -1.231 Td (of the Shanghai Listing Rules. )Tj /T1_1 1 Tf 0 -2.462 Td (Independent financial advisor and shareholders meeting )Tj /T1_0 1 Tf 0.075 Tw 0 -2.462 Td (The Company will appoint an as independent financial adviser as soon as \ possible )Tj 0.005 Tw 0 -1.231 Td [(to )0.5 (provide )0.6 (advice )0.5 (to )0.6 (the )0.5 (independent )0.5 (board )0.6 (committee )0.5 (and )0.6 (independent )0.5 (shareholders )]TJ 0.028 Tw 0 -1.231 Td (on this transaction and to confirm that it is normal business practice f\ or agreements )Tj 0.046 Tc 0.07 Tw 0 -1.231 Td [(with)12.4 ( more)12.3 ( than)12.3 ( three)12.3 ( years)12.4 ( to)12.3 ( be)12.3 ( of)12.3 ( such)12.3 ( duration)12.3 (.)12.3 ( It)12.3 ( is)12.3 ( expected)12.3 ( that)12.3 ( a)12.3 ( circular)21 ( )]TJ 0.044 Tc 0 -1.231 Td [(containing)12.3 (,)12.4 ( among)12.3 ( other)12.3 ( things)12.3 (,)12.4 ( details)12.3 ( of)12.3 ( the)12.3 ( transaction)12.3 ( and)12.3 ( other)12.3 ( information)19 ( )]TJ 0.025 Tc 0.061 Tw 0 -1.231 Td [(required )0.5 (by )0.5 (the )0.5 (Hong )0.5 (Kong )0.5 (Listing )0.5 (Rules )0.5 (will )0.5 (be )0.5 (despatched )0.5 (to )0.5 (H )0.6 (Shareholders )0.5 (on )]TJ 0 Tw 0 -1.231 Td (or before 17 May 2022. )Tj 0.029 Tc 0.079 Tw 0 -2.462 Td [(It)4 ( )0.5 (is)4 ( )0.5 (expected)4 ( )0.5 (the)4 ( )0.5 (transactions)4 ( )0.5 (contemplated)4.1 ( )0.5 (under)4.1 ( )0.5 (the)4 ( )0.5 (Equity)4 ( )0.5 (Transfer)4 ( )0.5 (Agreement)3.9 ( )]TJ 0.025 Tc 0.008 Tw 0 -1.231 Td (will be considered by shareholders at the annual general meeting of the \ Company to )Tj 0 Tw 0 -1.231 Td (be held on 17 June 2022. )Tj ET endstream endobj 133 0 obj <> endobj 139 0 obj <>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 285.0378 18.7502 Tm (\226 3 \226)Tj ET 0 0 0 1 K 0.5 w /GS1 gs q 1 0 0 1 56.6929 784.9469 cm 0 0 m 482.39 0 l S Q q 1 0 0 1 56.9429 48.189 cm 0 0 m 0 736.508 l S Q q 1 0 0 1 538.8326 48.189 cm 0 0 m 0 736.508 l S Q q 1 0 0 1 56.6929 47.939 cm 0 0 m 482.39 0 l S Q BT /GS0 gs 0.033 Tc 0.075 Tw 13 0 0 13 93.7933 762.094 Tm [(2)8 (.)8 ( )-1022.5 (Electricity)8.1 ( )0.5 (supplies)8 ( )0.5 (and)8 ( )0.5 (canteen)8 ( )0.5 (services)8 ( )0.5 (\226)8 ( )0.5 (are)8.1 ( )0.5 (purchases)8 ( )0.5 (of)8 ( )0.5 (services)8 ( )0.5 (by)8 ( )]TJ 0.049 Tc 0.07 Tw 2.181 -1.231 Td [(YS)12.2 ( Energy)12.2 ( Company)12.3 ( from)12.2 ( connected)12.2 ( persons)12.3 (,)12.2 ( it)12.3 ( is)12.2 ( estimated)12.2 ( that)12.3 ( the)24 ( )]TJ 0.037 Tc 0.071 Tw 0 -1.231 Td [(tr)0.5 (ans)0.5 (ac)0.5 (tio)0.5 (n)12 ( )0.5 (val)0.5 (ues)12.1 ( f)0.5 (or)12 ( )0.5 (t)0.5 (he)12 ( )0.5 (se)0.5 (co)0.5 (nd)12 ( )0.5 (ha)0.5 (lf)12 ( )0.5 (of)12 ( )0.5 (2)12 (0)12 (2)12 (2)12 ( )0.6 (will)12.1 ( )0.5 (not)12 ( )0.5 (e)0.5 (xce)0.5 (ed)12 ( )0.5 (R)0.5 (MB)12 (1)12 (.)12 (4)12 ( )]TJ 0.025 Tc 0.029 Tw 0 -1.231 Td (million and RMB0.191 million, respectively. These services are provided \ )Tj 0.062 Tw 0 -1.231 Td (on normal commercial terms or better, they should be fully exempt from )Tj 0.054 Tc 0.07 Tw 0 -1.231 Td [(the)12.2 ( continuing)12.2 ( connected)12.2 ( transaction)12.2 ( requirements)12.2 ( pursuant)12.2 ( to)12.2 ( Rules)29 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (14A.73\(7\) and 14A.97 of the Hong Kong Listing Rules. )Tj 0.022 Tc -2.181 -2.462 Td [(3)-3 (.)-3 ( )-1108.5 (Office and parking spaces leasing services \226 are leasing of office pr\ emises)-3 ( )]TJ 0.029 Tc 0.079 Tw 2.181 -1.231 Td [(and)4 ( )0.5 (parking)4 ( )0.5 (space)4 ( )0.5 (by)4 ( )0.5 (YS)4 ( )0.5 (Energy)4 ( )0.5 (Company)4 ( )0.5 (from)4 ( )0.5 (connected)4 ( )0.5 (person)4 (,)4 ( )0.5 (it)4 ( )0.5 (is)4.1 ( )]TJ 0.043 Tc 0.07 Tw 0 -1.231 Td [(estimated)12.2 ( that)12.2 ( the)12.2 ( rentals)12.2 ( for)12.2 ( the)12.3 ( second)12.2 ( half)12.2 ( of)12.3 ( 2)12.2 (0)12.2 (2)12.2 (2)12.3 ( shall)12.2 ( not)12.2 ( exceed)18 ( )]TJ 0.07 Tc 0 -1.231 Td [(RMB)12.2 (1)12.3 (.)12.3 (9)12.3 (4)12.2 (7)12.3 (5)12.3 ( million)12.3 ( and)12.2 ( RMB)12.3 (4)12.2 (,)12.3 (8)12.3 (0)12.3 (0)12.2 (,)12.3 ( respectively)12.3 (,)12.2 ( as)12.3 ( all)12.2 ( applicable)45.1 ( )]TJ 0.035 Tc 0.073 Tw 0 -1.231 Td [(percentage)10 ( )0.5 (ratios)10 ( )0.5 (\()10 (calculated)9.9 ( )0.6 (together)10 ( )0.5 (with)10 ( )0.5 (the)10 ( )0.5 (services)10 ( )0.6 (obtained)10 ( )0.5 (by)10 ( )0.5 (the)10 ( )]TJ 0.025 Tc 0.079 Tw 0 -1.231 Td (Group\) are less than 0.1%, they should be fully exempt from continuing \ )Tj 0.072 Tw 0 -1.231 Td [(connected transaction )0.5 (requirements pursuant to )0.5 (Rule 14A.76\(1\)\(a\) of )0.5 (the )]TJ 0 Tw 0 -1.231 Td (Hong Kong Listing Rules.)Tj 0.048 Tc 0.07 Tw -2.181 -2.462 Td [(4)23 (.)23 ( )-1012.5 (The)12.4 ( Target)12.4 ( Group)12.4 ( provides)12.5 ( electricity)12.4 ( supplies)12.4 ( services)12.5 ( to)12.4 ( companies)23 ( )]TJ 0.026 Tc 0.082 Tw 2.181 -1.231 Td [(directly)1 ( )0.5 (or)1 ( )0.5 (indirectly)1 ( )0.5 (owned)1 ( )0.5 (or)1.1 ( )0.5 (controlled)1 ( )0.5 (as)1 ( )0.5 (to)1 ( )0.5 (3)1 (0)1.1 (%)0.9 ( )0.6 (or)1 ( )0.5 (more)1 ( )0.5 (by)1 ( )0.5 (Jiangsu)1 ( )]TJ 0.031 Tc 0.077 Tw 0 -1.231 Td [(Communications)6 ( )0.5 (Holding)6 ( )0.5 (\226)6 ( )0.5 (it)6 ( )0.5 (is)6 ( )0.5 (expected)6 ( )0.5 (that)6 ( )0.5 (the)6 ( )0.5 (aggregate)6 ( )0.5 (transaction)6 ( )]TJ 0.048 Tc 0.07 Tw 0 -1.231 Td [(v)0.6 (a)0.5 (l)0.6 (u)0.5 (e)13.1 ( )0.6 (i)0.5 (n)13 ( )0.6 (t)0.6 (h)0.5 (e)13.1 ( )0.5 (s)0.6 (e)0.6 (c)0.5 (o)0.6 (n)0.5 (d)13.1 ( )0.5 (h)0.6 (a)0.6 (l)0.5 (f)13.1 ( )0.5 (o)0.6 (f)13 ( )0.6 (2)13 (0)13.1 (2)13 (2)13.1 ( )0.6 (w)0.5 (i)0.6 (l)0.5 (l)13.1 ( )0.5 (n)0.6 (o)0.5 (t)13.1 ( )0.6 (e)0.5 (x)0.6 (c)0.5 (e)0.6 (e)0.6 (d)13 ( )0.6 (R)0.5 (M)0.6 (B)13.1 (2)13 (.)13.1 (8)13 ( )0.6 (m)0.5 (i)0.6 (l)0.5 (l)0.6 (i)0.5 (o)0.6 (n)13 (.)13.1 ( )0.5 (A)0.6 (s)23 ( )]TJ 0.065 Tc 0 -1.231 Td [(these)12.9 ( services)12.8 ( are)12.8 ( conducted)12.9 ( on)12.9 ( normal)12.8 ( commercial)12.8 ( terms)12.9 ( or)12.9 ( better)40 ( )]TJ 0.056 Tc 0 -1.231 Td [(and)12.7 ( all)12.7 ( applicable)12.8 ( ratios)12.7 ( of)12.7 ( the)12.7 ( transactions)12.7 ( are)12.8 ( less)12.7 ( than)12.7 ( 0)12.8 (.)12.7 (1)12.7 (%)12.7 (,)12.7 ( such)31 ( )]TJ 0.038 Tc 0 -1.231 Td [(services)12.1 ( should)12.1 ( be)12.1 ( fully)12.1 ( exempt)12.1 ( from)12.1 ( continuing)12.1 ( connected)12.1 ( transaction)13 ( )]TJ 0.043 Tc 0 -1.231 Td [(requirements)12.2 ( pursuant)12.2 ( to)12.2 ( Rule)12.2 ( 1)12.2 (4)12.2 (A)12.2 (.)12.3 (7)12.2 (6)12.2 (\()12.2 (1)12.3 (\))12.2 (\()12.2 (a)12.3 (\))12.2 ( of)12.2 ( the)12.3 ( Hong)12.2 ( Kong)12.2 ( Listing)18 ( )]TJ 0.025 Tc -0.025 Tw 0 -1.231 Td (Rules.)Tj /T1_1 1 Tf 0 Tw 13 0 3.4833 13 92.4592 330.094 Tm (Continuing Connected Transactions subject to disclosure)Tj /T1_0 1 Tf 0.035 Tc 0.073 Tw 13 0 0 13 93.7933 298.094 Tm [(5)10 (.)10 ( )-1022.5 (L)0.5 (o)0.5 (ng)10 (-)10.1 (di)0.5 (s)0.5 (t)0.5 (a)0.5 (nc)0.5 (e)10 ( )0.5 (v)0.5 (e)0.5 (h)0.5 (i)0.5 (c)0.5 (le)10 ( )0.5 (l)0.5 (e)0.5 (a)0.5 (s)0.5 (i)0.5 (ng)10 ( )0.5 (a)0.5 (n)0.5 (d)10 ( )0.5 (t)0.5 (r)0.5 (ai)0.5 (n)0.5 (i)0.5 (n)0.5 (g)10 ( )0.5 (se)0.5 (r)0.5 (v)0.5 (i)0.5 (ce)0.5 (s)10 ( )0.6 (\226)10 ( s)0.5 (e)0.5 (r)0.5 (v)0.5 (i)0.5 (c)0.5 (es)10 ( )0.6 (pr)0.5 (o)0.5 (v)0.5 (id)0.5 (e)0.5 (d)10 ( )]TJ 0.062 Tc 0.07 Tw 2.181 -1.231 Td [(by)12.4 ( associates)12.5 ( of)12.4 ( Jiangsu)12.5 ( Communications)12.5 ( to)12.5 ( the)12.5 ( Target)12.4 ( Group)12.5 (,)12.4 ( it)12.5 ( is)37 ( )]TJ 0.025 Tc 0.058 Tw 0 -1.231 Td [(estimated )0.5 (that )0.6 (the )0.5 (transaction )0.5 (values )0.6 (for )0.5 (the )0.6 (second )0.6 (half )0.5 (of )0.6 (2022 )0.6 (will )0.5 (not )]TJ 0 Tw 0 -1.231 Td (exceed RMB88,000 and RMB147,700, respectively.)Tj 0.058 Tc 0.07 Tw -2.181 -2.462 Td [(6)33 (.)33 ( )-1002.5 (Deposit)12.3 ( Services)12.4 ( \226)12.3 ( As)12.3 ( at)12.3 ( the)12.3 ( date)12.4 ( of)12.4 ( this)12.3 ( announcement)12.3 (,)12.3 ( the)12.3 ( deposit)33 ( )]TJ 0.025 Tc 0.072 Tw 2.181 -1.231 Td (amount of YS Energy Company and its subsidiaries is RMB137 million. )Tj 0.019 Tw 0 -1.231 Td (From the Completion Date, the Group\222s quota will be used by YS Energy\ )Tj 0 Tw 0 -1.231 Td (Company and its subsidiaries.)Tj -2.181 -2.462 Td (As the highest applicable percentage ratio \(other than the profit ratio\ \) \(together )Tj 0.042 Tc 0.07 Tw 0 -1.231 Td [(with)12.1 ( services)12.1 ( provided)12.1 ( to)12.1 ( the)12.1 ( Group)12.1 (\))12.1 ( are)12.2 ( more)12.1 ( than)12.1 ( 0)12.2 (.)12.1 (1)12.1 (%)12.2 ( but)12.2 ( less)12.1 ( than)12.1 ( 5)12.2 (%)12.1 (,)17 ( )]TJ 0.025 Tc 0.058 Tw 0 -1.231 Td (the long-distance vehicle leasing, the training services and the deposit\ service )Tj 0.031 Tc 0.077 Tw 0 -1.231 Td [(are)6 ( )0.5 (subject)6.1 ( to)6 ( )0.5 (the)6 ( )0.5 (announcement)6 ( )0.5 (requirement)6 ( )0.5 (under)6 ( )0.5 (Rule)6 ( )0.5 (1)6 (4)6 (A)6.1 (.)5.9 (7)6.1 (6)6 (\()6 (2)6 (\))6 (\()6 (a)6 (\))6 ( )0.5 (of)6 ( )0.5 (the)6 ( )]TJ 0.025 Tc 0.001 Tw 0 -1.231 Td (Hong Kong Listing Rules, but are exempt from the requirement of independ\ ent )Tj 0 Tw 0 -1.231 Td (shareholders approval at general meeting.)Tj ET endstream endobj 138 0 obj <>stream BT 0 0 0 1 k /Perceptual ri /GS0 gs /T1_0 1 Tf 0.025 Tc 12 0 0 12 285.0378 18.7502 Tm (\226 2 \226)Tj ET 0 0 0 1 K 0.5 w /GS1 gs q 1 0 0 1 56.6929 784.9469 cm 0 0 m 482.39 0 l S Q q 1 0 0 1 56.9429 96.189 cm 0 0 m 0 688.508 l S Q q 1 0 0 1 538.8326 96.189 cm 0 0 m 0 688.508 l S Q q 1 0 0 1 56.6929 95.939 cm 0 0 m 482.39 0 l S Q BT /GS0 gs 0.03 Tc 0.078 Tw 13 0 0 13 65.4468 762.094 Tm [(According)5 ( )0.5 (to)5 ( )0.5 (Article)5 ( )0.5 (6)5 (.)5 (3)5 (.)5 (3)5 ( )0.5 (of)5.1 ( )0.5 (the)5 ( )0.5 (Shanghai)5 ( )0.5 (Listing)5 ( )0.5 (Rules)5 (:)5 ( )0.5 (the)5 ( )0.5 (counterparty)5 ( )0.5 (of)5 ( )0.5 (this)5 ( )]TJ 0.028 Tc 0.08 Tw 0 -1.231 Td [(transaction)3 ( )0.5 (is)3.1 ( )0.5 (a)3 ( )0.5 (related)3 ( )0.5 (party)3 ( )0.5 (of)3 ( )0.5 (the)3 ( )0.5 (Company)2.9 (,)3.1 ( )0.5 (the)3 ( )0.5 (transaction)3 ( )0.5 (constitutes)3.1 ( )0.5 (a)3 ( )0.5 (related)3 ( )]TJ 0.034 Tc 0.074 Tw 0 -1.231 Td [(party)9 ( )0.5 (tr)0.5 (ansact)0.5 (ion)9 (.)9 ( )0.5 (The)9 ( )0.5 (trans)0.5 (action)9 ( )0.5 (shou)0.5 (ld)9 ( )0.5 (be)9 ( )0.5 (calc)0.5 (ulated)9 ( )0.5 (cumu)0.5 (latively)9 ( )0.5 (ac)0.5 (cording)9 ( )0.5 (to)9 ( )]TJ 0.045 Tc 0.07 Tw 0 -1.231 Td [(the)12.7 ( \223)12.7 (principle)12.8 ( of)12.7 ( cumulative)12.7 ( calculation)12.7 ( within)12.7 ( 1)12.6 (2)12.8 ( consecutive)12.7 ( months)12.7 (\224)12.7 ( to)12.7 ( meet)20 ( )]TJ 0.025 Tc 0.058 Tw 0 -1.231 Td [(the )0.5 (disclosure )0.5 (requirements )0.5 (as )0.5 (required )0.5 (under )0.5 (Article )0.5 (6.3.7 )0.5 (of )0.5 (the )0.5 (Shanghai )0.5 (Listing )]TJ 0.028 Tc 0.08 Tw 0 -1.231 Td [(Rules)3 (.)3 ( )0.5 (The)3.1 ( )0.5 (proportion)3 ( )0.5 (of)3 ( )0.5 (the)3 ( )0.5 (total)3 ( )0.5 (amount)3 ( )0.5 (to)3 ( )0.5 (the)3 ( )0.5 (absolute)3 ( )0.6 (value)3 ( )0.5 (of)3 ( )0.5 (the)3 ( )0.5 (Company)2.9 (\222)3.1 (s)3 ( )]TJ 0.051 Tc 0.07 Tw 0 -1.231 Td [(latest)12.1 ( audited)12.1 ( net)12.1 ( assets)12.1 ( is)12.1 ( higher)12.1 ( than)12.1 ( 5)12.1 (%)12.1 (.)12.1 ( Therefore)12.1 (,)12 ( this)12.1 ( transaction)12.1 ( shall)12.1 ( be)26 ( )]TJ 0.025 Tc 0.004 Tw 0 -1.231 Td (submitted to the shareholders\222 meeting for approval where Jiangsu Com\ munications )Tj 0 Tw 0 -1.231 Td (Holding is required to abstain from voting.)Tj 0.038 Tc 0.07 Tw 0 -2.462 Td [(This)12.2 ( related)12.2 ( party)12.2 ( transaction)12.1 ( does)12.2 ( not)12.2 ( constitute)12.2 ( a)12.2 ( major)12.2 ( asset)12.1 ( reorganization)12.2 ( as)13 ( )]TJ 0.028 Tc 0.08 Tw 0 -1.231 Td [(stipulated)3 ( )0.5 (in)3 ( )0.5 (the)3 ( )0.5 (Measures)3.1 ( )0.5 (for)3 ( )0.5 (the)3 ( )0.5 (Administration)3 ( )0.5 (of)3 ( )0.5 (Major)3 ( )0.5 (Asset)3 ( )0.5 (Restructuring)2.9 ( )0.5 (of)3 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (Listed Companies.)Tj 0.024 Tc 0 -2.462 Td [(As Jiangsu Communications Holding is the controlling shareholder of the \ Company,)-1 ( )]TJ 0.052 Tc 0.07 Tw 0 -1.231 Td [(it)12.8 ( is)12.8 ( a)12.9 ( connected)12.8 ( person)12.8 ( of)12.8 ( the)12.8 ( Company)12.8 ( pursuant)12.8 ( to)12.8 ( Rule)12.8 ( 1)12.7 (4)12.8 (A)12.8 (.)12.8 (0)12.8 (7)12.8 ( of)12.8 ( the)12.8 ( Hong)27 ( )]TJ 0.047 Tc 0 -1.231 Td [(Kong)12.2 ( Listing)12.2 ( Rules)12.1 (.)12.2 ( Hence)12.2 (,)12.2 ( the)12.2 ( Equity)12.2 ( Transfer)12.2 ( Agreement)12.2 ( and)12.2 ( the)12.2 ( transaction)22 ( )]TJ 0.025 Tc 0.002 Tw 0 -1.231 Td (contemplated thereunder constitute a connected transaction of the Compan\ y. As the )Tj 0.057 Tw 0 -1.231 Td (highest applicable percentage ratio calculated according to Rule 14.07 o\ f the Hong )Tj 0.023 Tc 0 Tw 0 -1.231 Td [(Kong Listing Rules is above 5% but below 25%, the Equity Transfer Agreem\ ent and)-2 ( )]TJ 0.03 Tc 0.078 Tw 0 -1.231 Td [(the)5 ( )0.5 (transaction)5 ( )0.5 (contemplated)5 ( )0.5 (thereunder)5 ( )0.5 (also)5 ( )0.5 (constitute)5 ( )0.5 (a)5 ( )0.5 (discloseable)5 ( )0.5 (transaction)5 (.)5 ( )]TJ 0 -1.231 Td [(As)5 ( )0.5 (such)5 (,)5 ( )0.5 (the)5 ( )0.5 (transaction)5 ( )0.5 (is)5.1 ( subject)5.1 ( )0.5 (to)5.1 ( )0.5 (the)5.1 ( )0.5 (notification)5.1 (,)4.9 ( )0.6 (announcement)5 (,)5.1 ( )0.5 (circular)5 ( )0.5 (and)5 ( )]TJ 0.039 Tc 0.07 Tw 0 -1.231 Td [(independent)12.4 ( shareholders)12.4 (\222)12.4 ( approval)12.4 ( requirements)12.4 ( under)12.4 ( Rules)12.4 ( 1)12.4 (4)12.4 (.)12.4 (3)12.4 (3)12.4 (,)12.4 ( 1)12.4 (4)12.4 (A)12.4 (.)12.4 (3)12.4 (5)12.4 ( and)14 ( )]TJ 0.025 Tc 0 Tw 0 -1.231 Td (14A.36 of the Hong Kong Listing 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