SHANXI INSTALL (02520) announced on November 21, 2025, that its board of directors has reviewed and approved a proposal to convert 1 billion domestic shares held by certain shareholders into H shares (H Share Full Circulation). These shares represent approximately 72.81% of the company's total issued share capital as of the announcement date. The implementation of H Share Full Circulation remains subject to filing with the China Securities Regulatory Commission and approval from the Hong Kong Stock Exchange.