[Shandong, China] - [May 1, 2025] - Two key players in China's infrastructure construction sector - Horizon Traffic and Horizon Water Engineering - jointly announced today that they have officially completed their strategic merger and established a new company, Horizon Traffic Technology Group Co., Ltd. (hereinafter referred to as "Horizon Traffic Technology Group"). This landmark integration marks the beginning of a new chapter of complementary advantages and resource synergy for the two companies, aiming to create an industry-leading enterprise with stronger competitiveness, innovation capabilities, and full-chain service capabilities.

This merger is based on the long-term good cooperation foundation between the two parties and their consensus on the future market development trends. The original Horizon Traffic has been deeply engaged in the fields of intelligent transportation systems, road and bridge design and construction, and transportation engineering consulting for many years, possessing profound technical accumulation and rich project experience. While the original Horizon Water Engineering focuses on engineering technical services and construction in the water engineering fields such as ports and waterways, hydropower, and marine engineering, with outstanding technical strength and remarkable achievements.

The newly established Horizon Traffic Technology Group will integrate the core advantages of both parties in the "land" and "water" sectors, and build a complete industrial chain covering "planning consultation, survey and design, technological innovation, engineering construction, operation and maintenance". The business scope of the group will be expanded comprehensively. Not only will it consolidate its leading position in traditional transportation and water engineering markets, but it will also focus on emerging cross-cutting fields such as comprehensive transportation hubs, smart ports, intelligent shipping, coastal zone comprehensive development, and river basin comprehensive governance, providing customers with more comprehensive, integrated, and intelligent solutions.

The new chairman and CEO Jordan Meng of the group stated in his inaugural speech: "This merger is a strategic choice in line with the requirements of high-quality national development and aimed at promoting the transformation and upgrading of the infrastructure construction industry. The integration of 'transportation' and 'water works' is not merely a simple addition of businesses, but rather a deep collaboration in terms of technology, talent and management models. The new group will increase investment in scientific and technological innovation and digitalization, and is committed to promoting the deep integration of cutting-edge technologies such as BIM, big data and artificial intelligence with traditional infrastructure, to empower engineering with technology, improve engineering quality and operational efficiency, and contribute more high-quality and intelligent projects to society."

The establishment of Horizon Traffic Technology Group is expected to significantly enhance its overall contracting capabilities and international competitiveness in large-scale complex infrastructure projects, enabling it to better participate in the construction of major projects at home and abroad, and serve national strategies such as "Building a Strong Transportation Nation" and "Building a Strong Maritime Nation".

In the future, Horizon Traffic Technology Group will uphold the core values of "innovation, collaboration, greenness and excellence", with a brand-new image and stronger comprehensive strength, and work hand in hand with all parties to jointly promote the sustainable development of infrastructure construction, contributing Horizon's wisdom and strength to building a modern comprehensive transportation system and water resource utilization system.

Regarding Horizon Traffic Technology Group: Horizon Traffic Technology Group Co., Ltd. is a large-scale infrastructure construction technology group formed through the strategic merger of the original Horizon Traffic and Horizon Water Conservancy. The group integrates planning consultation, survey and design, construction, scientific research and development, operation and maintenance. Its business covers intelligent transportation, roads and bridges, ports and waterways, water conservancy and hydropower, marine engineering, and emerging infrastructure sectors, and is committed to becoming a world-class comprehensive service provider for transportation and water conservancy infrastructure.