According to the announcement, the company holds 60% of the shares in the holding subsidiary Zhejiang Jinbao. Due to business restructuring, the company and Zhejiang Wangjingbao, a 40% shareholding related party, plan to reduce Zhejiang Jinbao's capital by the same ratio, reducing its registered capital from 50 million yuan to 10 million yuan, reducing the total registered capital by 40 million yuan. Priority was given to reducing the pledge portion of this capital reduction. The actual capital contribution was not refunded, and there was no capital flow. After the capital reduction, the company's shareholding ratio was still 60%, which did not involve changes in the scope of the consolidated statement. This matter constitutes a related transaction. It has been reviewed and approved by the board of directors of the company, and still needs to be submitted to the shareholders' meeting for consideration.

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