Equity Relationship between Tian Rui and Xin 'an Zhonglian

Partner. According to the Inquiry Report on Lianliankan of Work Safety, Xin 'an Zhonglian Wanji Cement Co., Ltd., which is jointly operated by Zhonglian Cement and Tian Rui Cement, is a partnership. In the middle of 2020, the shareholding structure of Xin 'an Zhonglian Wanji Cement Co., Ltd. has also undergone great changes. Wanji Holding Group Co., Ltd. transferred 49% equity of Xin 'an Zhonglian Wanji Cement Co., Ltd. to Tian Rui Cement Group Co., Ltd., and Wanji Holding Group Co., Ltd. withdrew from the shareholder sequence.