On the afternoon of June 28th, Suzhong Construction held its 2024 annual shareholders' meeting. The meeting was held online through a video conferencing system, with approximately 90% of shareholders participating in the shareholders' meeting through online registration, facial recognition check-in, and online voting. Chairman Qi Honghu presented the "Work Report of the Board of Directors" on behalf of the board of directors, Chairman Wang Yihong presented the "Work Report of the Board of Supervisors" on behalf of the board of supervisors, Director Gu Shaojun presented the "Amendment to the Articles of Association" and "Adjustment Plan for the Board of Supervisors" reports, Director Zhu Xiaoqiang presented the "2023 Financial Final Accounts and 2024 Financial Budget Report" and "2023 Profit Distribution Plan" reports. The meeting was chaired by Vice Chairman Chen Yongming.

Chairman Qi Honghu reported to the shareholders' meeting in the "Work Report of the Board of Directors" on the relevant work of the Board of Directors over the past year. From three aspects: overall stable production and operation, orderly promotion of debt liquidation cases, and initial results of business transformation, he reviewed the operational development of Suzhong Construction in the past year and proposed the next stage of work ideas for the Board of Directors and the company:

One is to deepen reform and stimulate organizational vitality. Continuously optimize market layout, adjust organizational structure, and achieve tangible and flat management. Highlight the value orientation of employees, further clarify the relationship between responsibilities and rights, improve the assessment and incentive system, and fully mobilize the enthusiasm of frontline managers. Strengthen the implementation of responsibilities and assessment, and make every effort to stabilize the company's cash flow.

The second is to reshape capabilities and build core advantages. Firmly focus on the market and customers, and strive to build the ability to explore the market and manage projects. Continue to seek cooperation with high-quality central state-owned enterprises, extending from headquarters strategy to regional substantive cooperation. Introduce incentive policies to support the development of overseas markets, seeking incremental growth and benefits from overseas markets. Transform the development mode, seize policy opportunities, promote transformation and upgrading, and continuously shape the ability of engineering general contracting. Build "hard channels" to prevent "leakage", implement management actions at the grassroots level, and make great efforts to reduce costs and increase efficiency.

The third is to resolve risks and accelerate credit repair. Classify disposal, implement comprehensive policies, and accelerate the implementation of risk prevention and mitigation measures. Fulfill corporate responsibilities and fully promote the task of "ensuring the delivery of buildings"; Implement rights protection measures and protect the legitimate rights and interests of enterprises in accordance with the law.

All attending shareholders listened, reviewed, and voted online to approve the "Work Report of the Board of Directors", "Work Report of the Supervisory Board", "2023 Financial Final Accounts and 2024 Financial Budget Report", "2023 Profit Distribution Plan", "Amendment to the Articles of Association", and "Adjustment Plan for Supervisors".

The successful convening of the 2024 Annual Shareholders' Meeting has further enhanced the confidence of all shareholders in Suzhong. We have seen Suzhong's courage to face difficulties, unwavering perseverance, and pragmatic and effective actions, which have further strengthened our confidence and determination to stand together with Suzhong through thick and thin and overcome difficulties together!