Gao Mengxin New Materials: Intends to establish a Hong Kong subsidiary, with an investment amount of 1.2 million US dollars.

Gao Mengxin New Materials announced that the 21st meeting of the fifth Board of Directors of the company approved the "Proposal on Establishing a Hong Kong Subsidiary through Overseas Investment". According to the company's business plan and the need for the continuous development of its main business, the company plans to establish a subsidiary, Gao Meng International Holdings Limited, in Hong Kong with its own funds. Gao Meng International Holdings Limited will then establish a second-tier subsidiary, Hong Kong Gao Meng Trading Limited. The total investment amount is $1.2 million, with registered capital of $500,000 for Gao Meng International Holdings Limited and $500,000 for Hong Kong Gao Meng Trading Limited. The above information is subject to the final approval of the relevant departments in Hong Kong.