CNBM: Upon completion of the Asset Restructuring and the change in the composition of the board of directors, Qilianshan and Qilianshan Cement will cease to be subsidiaries of the Company.

CNBM announced on the Hong Kong Stock Exchange on December 21 that on the date of the announcement, the industrial and commercial registration of the transfer of the underlying assets to China Jiaotong Construction and China Urban and Rural Areas and the transfer of the underlying assets to Qilian Mountain had been completed. The escrow agreement entered into between Tianshan Cement and CCCC, China Urban and Rural and Qilianshan Cement in relation to the subject matter of the escrow has come into effect. In addition, the registration of the issue of 1,110,869,947 shares of Qilianshan to CCCC and 174,548,252 shares of Qilianshan to China Urban-Rural based on the difference of the transaction consideration has been completed at the Shanghai Branch of China Securities Depository and Clearing Corporation Limited on 29 November 2023, and such consideration shares have been listed on the Shanghai Stock Exchange. On December 21, the shareholders'meeting of Qilian Mountain approved the proposed change of the board of directors, and the company no longer controls the board of directors of Qilian Mountain. Qilianshan and Qilianshan Cement have ceased to be subsidiaries of the Company upon completion of the Asset Restructuring Completion and the change in the composition of the board of directors of Qilianshan.