DZUG Held 2018 Annual Shareholders Meeting

Shanghai Dazhong Public Utilities (Group) Co.,ltd held the 2018 Annual Shareholders Meeting Meeting on the third floor of Dazhong Building, No. 1515 West Zhongshan Road, Shanghai in the afternoon of June 12, 2019 and 32 shareholders and authorized representatives attended the meeting, representing 667,744,814 shares, accounting for 22.6168% of the total share capital of the Company. The convening and voting of the Shareholders Meeting are in compliance with relevant laws and regulations of the Company Law and relevant provisions in the Articles of Association of the Company.

The Shareholders Meeting voted on the matters specified in the Notice of the Shareholders Meeting by way of combing on-site voting and online voting. The meeting examined and approved the work report of the board of directors of the Company for the year 2018, e the work report of the board of supervisors of the Company for the year 2018, the final financial report for the year 2018 and the financial budget report of the Company for the year 2019, the resolution on the estimated ongoing ordinary related party transactions of the Company for the year 2019, the resolution on the application of bank credit facilities of the Company and its subsidiaries, the resolution on the proposal of the provision of guarantee for controlled subsidiaries with respect to their external financing, the resolution on the proposal for the Company and its subsidiaries to use idle funds for entrusted financing for the year 2019, the resolution on the re-appointment of the domestic audit firm and internal control audit firm for the Company for the year 2019, the resolution on the re-appointment of the overseas audit firm for the Company for the year 2019, the resolution on the proposed registration and issuance of super short-term commercial papers and short-term commercial papers, the resolution on the proposed registration and issuance of midterm notes, the resolution on the proposed change in use of proceeds,and the resolution on the amendments on the Articles of Association and the change on industrial and commercial registration. It is witnessed by attorney Xiaoming Tian and Jiachi Gong from Jin Mao Partners, while issuing legal opinions.

Chairman Yang Guoping presided over the meeting, and led the management layer present at the meeting to have good communications with present shareholders on the business condition of urban transportation, urban gas,environment and municipalities and financial venture plate of the Company, the future development of the Company, the impact of internet finance on the traditional industries and so on.Talking about the business plan in 2019, Mr. Yang, said the company will adhere to the industrial development path of "engaging in public  utility and financial investment business" . The Company will focus on gas secotor and environment of the two main business strong solid base Based on Shanghai area and facing overseas Yangtze river delta, surrounding gas, environment two big main business is strong in this solid base, at the same time in the state-owned enterprises reform, comprehensively, such as traffic innovation, venture capital layout constantly enhance the company's comprehensive strength. The company will firmly grasp the historical opportunity of "the integration of Yangtze river delta", andchoose the stable, mature and profitable targets for investment. Based on risk prevention, cost reduction and efficiency, the board of directors at the beginning of the year should be fully completed, and strive to achieve a steady increase in business performance compared with last year.