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2020-06-22
1.Approved by resolution of the board of directors or shareholders meeting
(please enter: “board of directors” or “shareholders meeting”):
Board of directors
2.Date of the resolution:2020/06/22
3.Reason for the resolution to increase the no.of held companies, name,
industry, and shareholding ratio of the held companies:NA
4.Reason for the resolution to decrease the no.of held companies, name,
industry, and shareholding ratio of the held companies:
Reason to increase the company:
To copy with the ever-changing market situation in China, the YFY Consumer
Product Co., Ltd. planned to consolidate its business operation in
Northern China into YFY Consumer Products (Yangzhou) Co., Ltd., which has
better resources condition and sound economy scale. Therefore, this
transaction will help YFY Consumer Product Co., Ltd. enhance the cost
competitiveness and contribute to its overall future growth of the
Company.
Name of the company: YFY Family Paper (Beijing) Co., Ltd.
Industry: Household paper production and sales.
Shareholding Ratios: 100%
5.No.of held companies as of the current date:103
6.Any other matters that need to be specified:
The production and business of YFY Family Paper (Beijing) Co., Ltd. have
been consolidated into those of YFY Consumer Products (Yangzhou) Co.,
Ltd. Therefore, this transaction. has no material impact to the business
operation of YFY Consumer Product Co., Ltd.