Beijing Metro Technology Development Co., Ltd. (hereinafter referred to as Metro Technology) was established on February 18, 2016, with a registered capital of RMB30 million. It is jointly operated by China City Railway Transportation Technology Investment Co., Ltd (City Railway Investment), which is a subsidiary of BII Railway Transportation Technology Holdings Company Limited (BIITT) and Operation Company. Of which, operation Company and this Group hold 51% and 49% equity respectively. The main business of Metro Technology is the design, installation, repair and research of the subway automatic ticket issuing and checking system; develop of transportation system software and transportation network technology; and technical consultation services. The establishment of Metro Technology will exactly contribute to enhancing the operation and maintenance level of AFC system in Beijing Rail Transit, effective reducing the comprehensive operation and maintenance costs, and playing the synergetic and complementary effect in business.