Changcheng Electric announced that the company plans to transfer 100% of the shares of Sun Company Changkai Electric Power Company. The transferee is Water Resources and Hydropower Company. After the transfer is completed, the company will no longer include Changkai Electric Power Company in the scope of consolidated financial statements. This equity transfer can further focus on the core business of transmission and distribution equipment manufacturing, optimize resource allocation, and have a positive impact on the company. Within 15 working days after delivery is completed, Changkai Factory will cooperate with the registration of shareholder changes of the target company, and the company will continue to follow up on the progress of the matter and fulfill its obligation to disclose information.

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