Material Information

2020-12-29

The Board of YFY approved to proceed investment structure adjustment of Packaging business in China

1.Date of occurrence of the event:2020/12/29
2.Company name:YFY Inc.
3.Relationship to the Company (please enter ”head office” or
”subsidiaries”):head office
4.Reciprocal shareholding ratios:Not applicable
5.Cause of occurrence:
In order to improve the investment management effiency, the Board of YFY
approved to proceed investment structure adjustment of Packaging business
in China.
6.Countermeasures:
In order to improve the investment management effiency of Packaging business
in China, the Company plans to proceed investment structure adjustment to
change 13 China subsidiaries to be held by YFY Packaging (Yangzhou)
Investment Co., Ltd.
The investment structure adjustment will involve the following subsidiaries:
Yuen Foong Yu Paper Mfg. (Yangzhou) Co., Ltd., Yuen Foong Yu Papers
(Guangzhou) Co., Ltd., Yuen Foong Yu Paper Enterprise (Zhongshan) Co., Ltd.,
Yuen Foong Yu Paper Enterprise (Dongguan) Co., Ltd., Yuen Foong Yu Papers
(Xiamen) Co., Ltd., Yuen Foong Yu Paper Enterprise (Fuzhou) Co., Ltd., Yuen
Foong Yu Paper Enterprise (Kunshan) Co., Ltd., Yuen Foong Yu Paper Enterprise
(Suzhou) Co., Ltd., Yuen Foong Yu Paper Enterprise (Nanjing) Co., Ltd., Yuen
Foong Yu Paper Enterprise (Shanghai) Co., Ltd., Yuen Foong Yu Paper
Enterprise (Jiaxing) Co., Ltd., Yuen Foong Yu Paper Enterprise (Qingdao) Co.,
Ltd., Yuen Foong Yu Paper Enterprise (Tianjin) Co., Ltd.
The Company`s investment restructuring in China will be proceeded in
accordance with the relevant regulatory requirements.
7.Any other matters that need to be specified:None