GRG Banking to reform subsidiary Yuntong Smart into joint-stock company

GRG Banking Equipment Co. announced on October 10, 2025, that its controlled subsidiary, Guangzhou GRG Banking Equipment Yuntong Smart Technology Co. ("Yuntong Smart"), will undergo a joint-stock reform, converting into a joint-stock limited company. This move aims to improve Yuntong Smart's governance structure and operational efficiency, aligning with its strategic goals as a leader in intelligent transportation. Yuntong Smart's registered capital is CNY 14,186.666 million.

The conversion will be based on Yuntong Smart’s audited net assets as of April 30, 2025, amounting to CNY 670,533,954.91, which will be converted into 141,866,660 shares at a par value of CNY 1 per share. Concurrently, GRG Banking also approved an increase in the estimated 2025 daily related-party transaction limit by CNY 28.85 million, bringing the total to CNY 366.73 million. This adjustment reflects operational needs and ensures transaction fairness, with GRG Banking remaining Yuntong Smart's controlling shareholder.