1.2 billion investment in Changzhou urban reconstruction project

Tunnel shares (600820) notice, the company's wholly-owned subsidiary of Shanghai Jianyuan Investment Co., Ltd. to invest in Changzhou City, Wu Avenue urbanization Project, investment scale of about 1.2 billion yuan. Company Introduction, Changzhou Zhong Wu Avenue Urbanization Reconstruction project West Yulong Road, Dongzhi new Beijing-Hangzhou Canal Tinian Bridge West Road, length of about 17859 meters. Along the road to build 11 bridges, new sewage lifting pump 1.　　Simultaneous implementation of rainwater, sewage, water, gas, power supply, communications and other types of pipelines and intersection lights, traffic signs, road lights, greening, bus stations and other ancillary facilities. The project according to the construction-transfer (BT) mode of operation, investment scale of about 1.2 billion yuan (the actual amount to the signing of the BT contract). By the company's wholly-owned subsidiary of Shanghai Jianyuan Investment Co., Ltd. invested 360 million yuan (accounting for 30% of the total project investment) registered project company (the specific name of the project company to be approved by the local Industry and Commerce Bureau), the source of funds for Shanghai Jianyuan Investment Co.　　It is estimated that the internal rate of return of this project is 8.3%. The project construction period of 12 months, the repurchase period of 7 years, by the Changzhou City Construction (Group) Co., Ltd. 7-year repurchase, repurchase price within 7 years of quarterly payment. (New Hongjun)