According to the Shibei Hi-Tech announcement, the company's holding subsidiary, Shanghai Beigaoxin Yunmenghui Enterprise Development Co., Ltd. plans to invest 40 million yuan of its own capital to establish a wholly-owned subsidiary, Shanghai Beigaoxin Hotel Management Co., Ltd., with a 100% shareholding ratio. After the establishment of the hotel management company, it will establish a branch as the actual operating entity and entrust the Hilton Group to manage it to improve the supporting services of the park's hotels. This investment matter is within the authority of the board of directors, does not need to be submitted to the shareholders' meeting for consideration, and does not constitute a related transaction or major asset restructuring.

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