Xin Fengming: Intends to absorb and merge its wholly-owned subsidiary Zhongying Chemical Fiber.

Xin Fengming announcement states that the company plans to absorb and merge its wholly-owned subsidiary Tongxiang Zhongying Chemical Fiber Co., Ltd. After the completion of this merger, all assets, debts, contracts, personnel, and other rights and obligations of Zhongying Chemical Fiber will be inherited by the company. Zhongying Chemical Fiber will no longer exist, and its independent legal status will be cancelled.