Longyang Electronics announced that the company plans to sell some of the assets of Vietnam Deyou, the holding company, and cancel its legal entity status, and integrate Vietnam's Dewoo die-cutting business and some die-cutting equipment into Longyang, Vietnam. Recently, Vietnam Dewoo and counterparty OSUNGRFVINACO. , LTD. signed the “Contract of Principles” to sell assets such as land, plant, machinery and equipment located in Bac Ninh Province, Vietnam at a total price of 2.62 million US dollars. Currently, it has received a deposit of 10%, or 262,000 US dollars. After the completion of this matter, Vietnam Deyou will no longer be included in the scope of the company's consolidated statements, and there is still uncertainty about whether the transaction and cancellation will eventually be successfully implemented.

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