According to Longpan Technology's announcement, Jiangsu Kolansu Environmental Technology Co., Ltd., a wholly-owned subsidiary of the company, plans to absorb and merge its wholly-owned subsidiary Nanjing Shangyi Environmental Technology Co., Ltd. After the merger is completed, Shangyi Environmental Protection will be cancelled in accordance with law, and all of its assets, liabilities, business, personnel and all other rights and obligations will be inherited by Jiangsu Coransu according to law. The merger has been reviewed and approved by the 17th meeting of the 5th board of directors of the company. It does not constitute a related transaction or major asset restructuring, does not need to be submitted to the shareholders' meeting for review, and will not adversely affect the company's financial status, operating results and business development.

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