China Oriental Group boosts stake in Jiangsu Shentong, citing strategic alignment

On December 22, 2025, Jinxi Heavy Industry, a subsidiary of China Oriental Group, acquired 2,000,000 shares of Jiangsu Shentong on the Shenzhen Stock Exchange. This acquisition, representing approximately 0.39% of Jiangsu Shentong's issued shares, was executed at an average price of RMB15.46 per share, totaling an aggregate consideration of approximately RMB30.91 million. The transaction was fully funded by the Group’s internal resources.

Following this acquisition, China Oriental Group now holds a total of 9,003,500 shares of Jiangsu Shentong, accounting for approximately 1.77% of its issued shares. This transaction is deemed a connected transaction due to Han Li, an executive director of China Oriental Group, controlling approximately 18.2% of Jiangsu Shentong shares.

The board of directors views the acquisition as fair and reasonable, aligning with the Group's strategy to explore business opportunities for sustainable growth. Jiangsu Shentong, an upstream supplier to the Group, achieved strong financial performance with net profit before taxation of RMB324.7 million in 2024 and RMB294.7 million in 2023.