The Shenzhou High Speed Rail announcement stated that on December 25, 2025, the company held a meeting to pass a debt restructuring bill with Shenzhou Tengxin. Recently, the company signed a “Debt Restructuring Agreement” with Shenzhou Tengxin and related parties, with no major changes. The company transferred the relevant claims and rights of Shenzhen Bai Lihao Industrial Co., Ltd. for 0 yuan. As of the disclosure date of the announcement, the housing mortgage registration procedure had been completed, and a payment of 1.234 million yuan had been received from the relevant party. There is uncertainty about subsequent payments, and the company will monitor the execution of the contract and disclose the information.

The Shenzhou High Speed Rail announcement stated that on December 25, 2025, the company held a meeting to pass a debt restructuring bill with Shenzhou Tengxin. Recently, the company signed a “Debt Restructuring Agreement” with Shenzhou Tengxin and related parties, with no major changes. The company transferred the relevant claims and rights of Shenzhen Bai Lihao Industrial Co., Ltd. for 0 yuan. As of the disclosure date of the announcement, the housing mortgage registration procedure had been completed, and a payment of 1.234 million yuan had been received from the relevant party. There is uncertainty about subsequent payments, and the company will monitor the execution of the contract and disclose the information.