Jiaotong Construction Co., Ltd. announced that the company and the Shanghai Ethiopian Enterprise Management Center jointly funded the establishment of Shanghai Yegasefin Industrial Development Co., Ltd., with a registered capital of 100 million yuan. Jiaotong Construction Co., Ltd. pledged 80 million yuan, accounting for 80% of the registered capital; the Shanghai Ethiopian Enterprise Management Center pledged 20 million yuan, accounting for 20% of the registered capital. The main business of the joint venture is the import, sale and deep processing of coffee beans from Ethiopia. This investment is conducive to broadening the company's business layout, optimizing the company's business structure and asset structure, and enhancing the company's overall competitiveness. Investment capital will increase the company's cash expenses in the short term. The estimated investment amount accounts for 3.32% of the company's audited net assets at the end of 2023.

Jiaotong Construction Co., Ltd. announced that the company and the Shanghai Ethiopian Enterprise Management Center jointly funded the establishment of Shanghai Yegasefin Industrial Development Co., Ltd., with a registered capital of 100 million yuan. Jiaotong Construction Co., Ltd. pledged 80 million yuan, accounting for 80% of the registered capital; the Shanghai Ethiopian Enterprise Management Center pledged 20 million yuan, accounting for 20% of the registered capital. The main business of the joint venture is the import, sale and deep processing of coffee beans from Ethiopia. This investment is conducive to broadening the company's business layout, optimizing the company's business structure and asset structure, and enhancing the company's overall competitiveness. Investment capital will increase the company's cash expenses in the short term. The estimated investment amount accounts for 3.32% of the company's audited net assets at the end of 2023.