BII Railway Transportation Technology Holdings Company Limited announced that recently, it has won the procurement project for telecommunications, office automation and navigation system integration for Beijing Rail Transit Line 28, with a bid-winning amount of approximately RMB 110 million. The scope of the project covers system and services procurement for telecommunications, office automation, and navigation system integration. This project is another metro communications integration project in the Beijing market following the Group's successful bidding of the Beijing Rail Transit Line 13 project last year.

In addition, the Group has also won several key domestic projects such as the procurement of the communications system for Taiyuan Metro Line 1 and the weak current system for the Bitong Line of the suburban railway, as well as overseas on-board Passenger Information System such as the PIS system renovation project for the RS-1 18 train in Delhi, India and the South Korea tramway project, and the latter project marks the Group's debut into the Korean market. In 2023, the Group continued to strengthen its business development and product delivery. Since entering the fourth quarter, in particular, the Group's new contracts and new bids awarded amounts to RMB420 million.

As of 31 October 2023, the Group's orders on hand amounted to RMB 2.39 billion. Under the intensified competition in the industry and increased difficulty in obtaining projects, the successful acquisition of the aforesaid major orders reinforces the Group's market position in the rail transit sector and will have a positive impact on the Group's operating results. The Group will continue to adhere to its market strategy of "maintaining a strong foothold in Beijing and Hong Kong, stepping up its presence nationwide, and exploring international markets", and will continue to optimize its products and services and increase its competitiveness in providing advanced and high quality intelligent rail transit products and services to its customers.