Jinzhou Cihang has been reorganized for several years.

On May 25th, 2020, the company organized the 34th meeting of the 8th Board of Directors of Jinzhou Cihang Group Co., Ltd., and reviewed and passed the Proposal on Agreeing the Company to Sign the Intention Agreement on the Acquisition of Beijing Yousheng Tengfei Information Technology Co., Ltd. 100% Equity. ..

In accordance with the relevant regulations of China Securities Regulatory Commission and Shenzhen Stock Exchange, the Company promoted this major asset restructuring process in an orderly manner. According to the Administrative Measures for Major Asset Restructuring of Listed Companies and other relevant regulations, after the signing of the intention agreement, the company and its subsidiary Fenghui Leasing implemented a series of internal investment optimization processes through telephone interviews, on-site optimization and inspection, and obtained financial statements, audit reports, business information and other documents of the counterparty. Due to the pressure of the company's own management and business development, and the counterparty was affected by the epidemic in the first half of the year, the focus of work was on daily operations, so the work related to asset restructuring between the two parties progressed slowly.

About Jinzhou Cihang

Jinzhou Cihang Group Co., Ltd., formerly known as Guangming Group Furniture Co., Ltd., was established on April 25th, 1996. 1990 was approved as a joint-stock pilot enterprise in February by the Heilongjiang provincial commission for restructuring the economy [1990] No.25, and in March of the same year, 30 million public shares were publicly issued to the public. 1In March 1992, Guangming Group Company was reorganized to form Guangming Group Co., Ltd. 1994, and the company name was changed from "Guangming Group Co., Ltd." to "Guangming Furniture Group Co., Ltd.".

Jinzhou Cihang mainly includes gold jewelry business and financial leasing business. The company is one of the largest gold jewelry production and processing enterprises in China, with outstanding gold processing capacity, and its annual gold processing volume ranks among the top in the country. The company's leasing business has strong self-owned financial strength and broad funding channels, and the financial leasing business has covered enterprises and institutions in the medical, heating, water, electric power and other industries.