Tianyin Holdings announced that after verification, the independent directors of the company found that there was no peer competition between the company and the controlling shareholders and their co-actors and other enterprises under their control, which had a significant adverse effect. The controlling shareholder and its co-actors have issued a “Letter of Commitment to Avoiding Competition in the Industry”, and the promises have all been fulfilled normally, and there have been no violations of the promises. Measures to avoid competition in the same industry between the company and the controlling shareholders and their co-actors are effective.

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