Will Muyuan become a state-owned enterprise?

No, according to the inquiry, Muyuan Industrial Group Co., Ltd. was incorporated in Nanyang neixiang county Administration for Industry and Commerce on June 27th, 2008. By May 23rd, 2023, official website has not updated the information that Muyuan will become a state-owned enterprise, so Muyuan will not become a state-owned enterprise. State-owned enterprises refer to wholly state-owned enterprises, wholly state-owned companies and state-owned capital holding companies that the State Council and local people's governments perform the responsibilities of investors on behalf of the state respectively.