Longyuan Mingcheng Investment Management (Shanghai) Co., Ltd.

Longyuan Mingcheng Investment Management (Shanghai) Co., Ltd. is a wholly-owned subsidiary of Longyuan Construction Group Co., Ltd. (stock code: 600491), established in 2014 with a registered capital of RMB 300 million. It is a professional institution engaged in investment and financing, construction, operation and management of infrastructure projects, as well as the implementation of Public-Private Partnership (PPP) business. Since the inception of its PPP business, Longyuan Mingcheng has set strict standards in project scale, partner institutions, management teams, and business innovation, and has fully leveraged the Group's advantages in the entire industrial chain of the construction sector, including project design, construction management, and general contracting, aiming to build the Group's PPP business into a top-tier benchmark within 3 to 5 years.

The business team of Longyuan Mingcheng has years of experience in infrastructure investment and financing, with a cumulative total investment in infrastructure projects exceeding RMB 50 billion, and a cumulative total financing amount exceeding RMB 20 billion through equity, debt, structured financial products, and other means. The core members of the team are experts in the field of infrastructure investment and financing in China, having been appointed as experts in the PPP expert pool of the National Development and Reform Commission (NDRC) and as specially invited external experts for PPP business of the Shenzhen Stock Exchange. They have also been invited to teach at NDRC's special PPP training classes and the CBRC's PPP seminars, and have been invited multiple times to provide practical operation exchanges and training on PPP business for provincial and municipal governments such as Hunan, Anhui, Shandong, Zhongshan, Foshan, Jiangmen, Wuhan, and Lishui, as well as for institutions including the Shanghai Stock Exchange, major banks, insurance companies, and large central enterprises.

Since embarking on PPP business, Longyuan Mingcheng has engaged extensively with government agencies at various levels and established a rich database of project information, covering various types of PPP projects such as municipal roads, schools, hospitals, affordable housing, convention and exhibition centers, old city renovation, and utility tunnel projects. It has also negotiated with dozens of well-known domestic financial institutions and formed alliances with internationally and domestically renowned operation institutions in fields such as rail transit projects, exhibition projects, landscape projects, and environmental protection projects. It has reached long-term strategic partnerships with some of these institutions, striving to build an optimal PPP project business cooperation platform. Since September 2015, the company has successively won bids for 42 PPP projects, including the Fujian Jinjiang International Convention and Exhibition Center PPP project, the Shandong Ju County Infrastructure PPP project, the Fenghua Zhongshan East Road Extension and Changting Road (from Xihe Road to Donghuan Line) Road Project PPP project, the Wenzhou Lucheng District Oujiang Ring Expressway to Woqi Mountain Section Seawall Project and Oujiang Road West Extension (Phase II of Jiangbin Road A Line West Section) Road Project PPP project, the Xiangshan 71 Provincial Road Shengning Line Dongchen to Maoyang Section Reconstruction Project PPP project, and the Wenzhou Dongtou District Zhuangyuan South Municipal Infrastructure Project PPP project, with a total investment amount of nearly RMB 50 billion.

Backed by professional project implementation capabilities and strong capital operation strength, Longyuan Mingcheng will integrate the entire industrial chain advantages of Longyuan Construction Group, design optimal transaction structures in the infrastructure investment field, introduce diverse forms of capital, establish a cooperation platform for state-owned capital, private capital, financial capital, and industrial capital, and build stable and win-win partnerships between the government and social capital.