The Relationship between SASAC and Jincheng Capital

Jincheng Capital is a subsidiary of SASAC. Tianjin Jincheng State-owned Capital Investment and Operation Co., Ltd. (hereinafter referred to as "Jincheng Capital") was established by Tianjin SAAC, and Jincheng Capital is a subsidiary of SAAC. The State-owned Assets Supervision and Administration Commission of the State Council is an ad hoc organization directly under the State Council, which performs the investor's duties on behalf of the state.