On November 5, Sihui Fushi Electronic Technology Co., Ltd. made an announcement stating that the 15th meeting of the third session of its board of directors had greenlit the 'Proposal for Absorbing and Merging a Wholly-Owned Subsidiary.' The company intends to absorb and merge its wholly-owned subsidiary, Sihui Fushi Technology Co., Ltd. The primary objectives behind this move are to streamline the management structure, trim down management expenses, and improve the efficiency of asset integration.

Once the absorption and merger process is finalized, Sihui Fushi Technology Co., Ltd. will cease to exist as an independent legal entity. All of its assets, liabilities, as well as other rights and obligations, will be legally transferred to and inherited by Sihui Fushi Electronic Technology Co., Ltd. It's important to note that this matter still awaits approval from the shareholders' meeting. Additionally, it does not involve any related-party transactions and does not qualify as a major asset restructuring.