I. Overview
Zhongbai Holding Group Co., Ltd. (hereinafter referred to as "the Company") disclosed an announcement on February 15, 2016, regarding the establishment of an electric appliance joint venture. The Company, in collaboration with Wuhan Taixin Electric Co., Ltd., initiated the establishment of Wuhan Zhongbai Industrial and Trade Electric Co., Ltd. (hereinafter referred to as "Zhongbai Industrial and Trade Electric"). For specific details, please refer to the announcement published on February 15, 2016, on the Giant Tide Information Network (Announcement No. 2016-5). Recently, Zhongbai Industrial and Trade Electric held an extraordinary shareholders' meeting, where the proposal for the legal dissolution of Wuhan Zhongbai Industrial and Trade Electric Co., Ltd. was approved. The shareholders unanimously decided to set March 31, 2026, as the liquidation benchmark date, dissolve the company, cease operations, and conduct liquidation and deregistration procedures in accordance with the law. According to the Shenzhen Stock Exchange Listing Rules and the Company’s Articles of Association, this dissolution and liquidation matter does not constitute a related party transaction or a major asset reorganization and does not require submission for approval by the Company’s board of directors or shareholders' meeting.