Qilian Mountain issued an announcement on the progress of asset restructuring.

On May 31, Gansu Qilianshan Cement Group Co., Ltd. Gansu Qilianshan Cement Group Co., Ltd. (Hereinafter referred to as the "Company") intends to purchase 100% equity of China Communications Highway Planning and Design Institute Co., Ltd. and 100% equity of China Communications First Highway Survey and Design Institute Co., Ltd. held by China Communications Construction Co., Ltd. through asset replacement and issuance of shares. 100% equity of CCCC Second Highway Survey and Design Institute Co., Ltd. and 100% equity of China Municipal Engineering Southwest Design and Research Institute Co., Ltd., 100% equity of China Municipal Engineering Northeast Design and Research Institute Co., Ltd. and 100% equity of CCCC Urban Energy Research and Design Institute Co., Ltd. held by China Urban and Rural Holding Group Co., Ltd.; At the same time, the company intends to raise matching funds through non-public issuance of shares (hereinafter referred to as the "transaction"). The base date of the relevant evaluation materials in the application documents of the

company for this transaction is May 31, 2022, and the validity period is one year. In order to ensure the validity of the evaluation data, the company will conduct an additional evaluation and update the corresponding content. In view of the fact that it will take some time to complete the aforementioned work and it will not be completed before May 31, 2023, the company decided to apply to the Shanghai Stock Exchange for suspension of the transaction.