Shanghai Tunnel extends Jianyuan fund liquidation to 2030

Shanghai Tunnel Engineering Co., Ltd. (Shanghai Tunnel) has announced an extension of the liquidation period for the Shanghai Jianyuan Equity Investment Partnership (Limited Partnership) (Jianyuan Phase I Fund) until December 26, 2030. The fund was initially established on August 26, 2016, with a total capital contribution of 1 bn yuan. The original agreement stipulated a liquidation period of one year, set to commence after the withdrawal period concluded on December 26, 2025.

The extension, approved through consultation among partners, aims to facilitate an orderly liquidation process and maximize the interests of all fund partners. Jianyuan Phase I Fund GP will assume the role of fund liquidator. Shanghai Tunnel's subsidiary, Shanghai Tunnel Engineering Co., Ltd., holds an 85.15% stake in the fund, contributing 21,500 yuan.

The company stated that this extension is beneficial for the successful exit of all projects invested by Jianyuan Phase I Fund and aligns with the interests of all shareholders. This matter does not require submission to the general meeting of shareholders.