Guangku Technology announced that due to business development needs, Shanghai Bai'an Industrial Co., Ltd., the holding subsidiary of the company, plans to establish a wholly-owned subsidiary, Hong Kong Bai'an Technology Co., Ltd., with a registered capital of 2 million US dollars, and Bai'an Industrial holds 100% of the shares. The matter has been reviewed and approved by the 30th meeting of the fourth board of directors of the company, and there is no need to submit it to the shareholders' meeting. The establishment still needs to complete procedures such as domestic and overseas investment filing/approval, foreign exchange registration, and Hong Kong company registration. The approval results and timing are uncertain.

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