Will Zhejiang Yongqiang reorganize?

Zhejiang Yongqiang will not be reorganized. As of July 16, 2022, there is no news to confirm the reorganization of Zhejiang Yongqiang. On July 13, 2022, the 23rd meeting of the 5th Board of Directors of Zhejiang Yongqiang Group Co., Ltd. (hereinafter referred to as "the Company") deliberated and passed the Proposal on Deliberating and Investing in the Establishment of a Subsidiary, and the meeting agreed that the Company should set up a wholly-owned subsidiary in Xiping County, Henan Province to invest in the construction of an outdoor furniture production base project with an annual output of 6,543,800 pieces.