Shenzhou High-Speed Rail Technology Co., Ltd

Fiscal Year 2025

Special Explanation on Non-Operating Fund Occupation and Other Related Fund Transactions

Index page number Special Notes 1-2 Summary Table 1-2 of Non-operating Fund Occupation and Other Related Fund Transactions

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Report code: Formerly 263H501N2C

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ShineWing

ShineWing Certified Public Accountants

9th Floor, Block A, Fuhua Building, No. 8 Chaoyangmen North Street, Dongcheng District, Beijing

9/F, Block A, Fu Hua Mansion, No.8, Chaoyangmen Beidajie, Dongcheng District, Beijing, 100027, P.R.China

Contact number: +86 (010) 6554 2288

telephone: +86 (010) 6554 2288

Fax: +86 (010) 6554 7190

facsimile: +86 (010) 6554 7190

About Shenzhou High-Speed Rail Technology Co., Ltd

Special Explanation on Non-operating Fund Occupation and Other Related Fund Transactions for 2025

XYZH/2026BJAA4B0242

Shenzhou High-Speed Rail Technology Co., Ltd

All shareholders of Shenzhou High-Speed Rail Technology Co., Ltd.:

We audited the 2025 financial statements of Shenzhou High-Speed Rail Technology Co., Ltd. (hereinafter referred to as Shenzhou High-Speed Rail Company) in accordance with Chinese Certified Public Accountant Auditing Standards, including the consolidated and parent company balance sheets as of December 31, 2025, the consolidated and parent company income statements, the consolidated and parent company cash flow statements, the consolidated and parent company statement of changes in shareholders' equity, and notes to the financial statements. On April 16, 2026, we issued XYZH/ Audit Report No. 2026BJAA4B0238 with an unqualified opinion.