Huaxia Happiness Director Responds to Ping An Group's Wang Wei's Complaint: If the Opportunity for Pre-restructuring is Missed, the Company Will Struggle to Recover.

Regarding the questioning of the compliance of Huaxia Happiness board director Wang Wei on the company's pre-restructuring without objection, Huaxia Happiness board director Feng Nianyi told reporters that he himself was not aware before the announcement was made public, but as a director, he understands that this is basic common knowledge for information disclosure and there is no bypassing of the board of directors. "Directors have a duty of loyalty and diligence to the company, and should consider issues from the perspective of maximizing company interests. The company is already insolvent, and pre-restructuring is a very rare opportunity for the company to completely resolve its debt risks and achieve recovery and development, which is beneficial for protecting the interests of creditors and all shareholders. If this opportunity is arbitrarily overturned, and missed, the company may find it difficult to recover, which I believe is a result that no one wants to see. The company is always willing to communicate with shareholders and work together towards a common goal," Feng Nianyi said.