Reasons for the merger of Su Hao and Shuntian

The reason for the merger of Su Hao and Shuntian is the reorganization and integration of several listed companies under the State-owned Assets Supervision and Administration Commission of Jiangsu Province. Specifically, Jiangsu Su Hao Holding Group Co., Ltd. reorganized and integrated with Jiangsu Overseas Enterprise Group Co., Ltd., Jiangsu Su Hui Asset Management Co., Ltd., Jiangsu Huilong Asset Management Co., Ltd. and Jiangsu Shuntian International Group Co., Ltd., and transferred 0/00% equity of Su Hui Company and Shuntian Group/KLOC to Su Hao Group free of charge according to the reorganization and integration plan. After the transfer, Su Hao Group added two listed companies, namely Jiangsu Shuntian and Huihong Group.