Mountain Eagle International: Zhiyuan Fund has completed business registration.

Yanqing International Announcement, Zhiyuan Fund has completed the industrial and commercial registration, but has not yet completed the filing with the China Securities Investment Fund Industry Association. The total scale of the Zhiyuan Fund is 100 million yuan. It has signed strategic investment cooperation agreements with Yunyin Technology and Proton Technology, jointly providing industrial identification products and overall solutions for the paper and packaging industry, as well as related products and services. The registered capital of the joint venture company that Zhiyuan Fund intends to invest in is 5 million yuan, with Zhiyuan Fund contributing 1 million yuan and holding a 20% equity stake. The amount of Zhiyuan Fund's capital contribution to the joint venture company is relatively small and will not have a significant impact on the company's financial condition and production and operation activities.