What is the relationship between Guangzhou Industrial Control Technology Industry Development Group Co., Ltd. and Guangzhou Industrial Investment Holding Group Co., Ltd.

Guangzhou Industrial Control Science and Technology Industry Development Group Co., Ltd. (hereinafter referred to as Science and Technology Industry Group) was established in June 2020 and is a wholly-owned subsidiary of Guangzhou Industrial Investment Holding Group Co., Ltd. (hereinafter referred to as Guangzhou Industrial Control Group). Headquartered in the headquarters building of Guangzhou Industrial Control Group, Lingnan V Valley-Guangzhou International Intelligent Science Park, No.657 Huadi Avenue South, Liwan District, Guangzhou. Under the background of Guangzhou Industrial Control Group's effective integration of the existing land resources and real estate business, Guangzhou Guanggang Land Co., Ltd. was renamed as the Science and Technology Industry Group, and Guangzhou Xincheng Property Management Co., Ltd. was set aside as the organizational system, while Guangzhou Wan Li Group Real Estate Co., Ltd., Guangzhou Wanbao Science Park Co., Ltd. and Guangzhou Jinding Guanglv Decoration Engineering Co., Ltd. were set up as the organizational systems, which were incorporated into the business and personnel of the infrastructure management function module of Guangzhou Panyu Wanbao Development Co., Ltd. After completing the organizational restructuring, the Science and Technology Industry Group will set up eight management departments, which are subordinate to 14 enterprises, such as science park operation, project construction, engineering decoration and hotel operation. Science and technology industry group also undertakes the engineering construction management function entrusted by Guangzhou Industrial Control Group and the pre-settlement audit function of engineering projects of enterprises under Guangzhou Industrial Control Group.