Liaogang Group: Subsidiary Company Completes Outbound Processing, Bankruptcy Liquidation Progressing Normally.

Liaogang Co., Ltd. announced that the company has completed the transfer of rights with the bankruptcy administrator of the port logistics company and will no longer be involved in its daily operations and legal procedures. Based on this, the company has completed the financial statement accounting treatment for the port logistics company, which will no longer be included in the consolidated financial statements. The litigation matters of the port logistics company will continue to be handled by the bankruptcy administrator, with the company providing necessary cooperation. The company had previously made provisions for related liabilities and impairment reserves, and it is expected that the financial statement treatment will not have a significant impact on profits and will not affect the operation of the existing core business. The company will continue to monitor the progress and promptly disclose any updates.