Beinbeauty announced that the patent contract dispute between the company and Heilongjiang Fengyou Hemp Cultivation Co., Ltd. was mediated and settled by the Hangzhou Intermediate Court. The two parties confirmed the cancellation of the relevant cooperation agreement and supplementary agreement. Heilongjiang Fengyou needed to return the company 34.8 million yuan; if it fails to fulfill its payment obligations as agreed, the company has the right to apply for enforcement of the remaining amount and 2 million yuan in liquidated damages. The parties each waive the other requests, and each bears the processing fees and other expenses of this lawsuit and the counterclaim case. This matter will not affect the normal production and operation of the company, and will not have a negative impact on the company's future profit and loss.

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