Wolong Electric Drive announced that the company plans to absorb Wolong Electric Group Supply Chain Management Co., Ltd., a wholly-owned subsidiary. After the merger is completed, Wolong Supply Chain's legal personality will be cancelled, and all of its assets, debts, business and other rights and obligations will be inherited by the company in accordance with law. This merger and acquisition does not involve a change in the company's registered capital, does not require payment of consideration, does not constitute a related transaction or major asset restructuring, and does not require submission to the shareholders' meeting for review. It has now been reviewed and approved by the 27th Interim Board of Directors meeting of the 9th session of the Company. Wolong Supply Chain's financial statements have been included in the scope of the company's consolidated statements. This absorption and merger will not adversely affect the company's financial status and operating results.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.