According to Zhenyang Development's announcement, Zhejiang Shanghai-Hangzhou-Ningbo plans to exchange shares and absorb the merged company by issuing A-shares to all shareholders of the company. The transaction has been approved by the Zhejiang Provincial State-owned Assets Administration Commission, reviewed and approved by the Shanghai Stock Exchange M&A and restructuring committee, and registered by the China Securities Regulatory Commission. Up to now, the transaction has not been completed. The company is proceeding with preliminary preparations and the transfer of rights and obligations such as assets, liabilities, business, qualifications, personnel, contracts, etc. to the designated recipient, and all matters are progressing normally. The company will promptly fulfill its information disclosure obligations according to progress. Investors are kindly requested to pay attention to investment risks.

According to Zhenyang Development's announcement, Zhejiang Shanghai-Hangzhou-Ningbo plans to exchange shares and absorb the merged company by issuing A-shares to all shareholders of the company. The transaction has been approved by the Zhejiang Provincial State-owned Assets Administration Commission, reviewed and approved by the Shanghai Stock Exchange M&A and restructuring committee, and registered by the China Securities Regulatory Commission. Up to now, the transaction has not been completed. The company is proceeding with preliminary preparations and the transfer of rights and obligations such as assets, liabilities, business, qualifications, personnel, contracts, etc. to the designated recipient, and all matters are progressing normally. The company will promptly fulfill its information disclosure obligations according to progress. Investors are kindly requested to pay attention to investment risks.