Nanjing Chemical Fiber: Nanjing's process change to become a wholly-owned subsidiary of Nanjing Chemical Fiber.

Nanjing Chemical Fiber announced that the transaction to purchase 100% of the shares of Nanjing Craft Equipment Manufacturing Co., Ltd. through asset replacement, issuance of shares, and payment of cash has been completed. Nanjing Craft's 100% shares have been transferred to Nanjing Chemical Fiber and changed to a wholly-owned subsidiary. The transferred assets will be taken over by Nanjing Chemical Fiber Factory Co., Ltd., and the related employees will be taken over by New Work Group. The transaction still requires the completion of follow-up procedures, including the transfer of asset ownership registration, transfer of debts and liabilities, placement of employees, and payment of cash consideration to the counterparty, issuance of shares, etc.