Dongguan Holdings announced that the company plans to absorb Dongguan Zhaozhou Investment Co., Ltd., its wholly-owned subsidiary. After the merger is completed, the legal personality of Zhaozhou Investment will be cancelled. All assets, liabilities, business, rights and obligations will be inherited by the company, and the company will directly hold 35% of the shares of Dongguan Xinzhao Investment Co., Ltd. The merger is an internal integration, and there is no external payment of merger consideration. It has been reviewed and approved by the company's board of directors and still needs to be submitted to the shareholders' meeting for review. It will not have a substantial impact on the company's financial situation 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.