Xin Hee announced that the company has completed the absorption merger of its wholly-owned subsidiary, Xin Hee Maoyi Apparel (Xiamen) Co., Ltd. The company convened the eighteenth meeting of its fifth board of directors on August 5, 2026, at which the absorption merger proposal was reviewed and approved. Recently, it received a registration notice issued by the Market Supervision Administration of Tong'an District, Xiamen. Xin Hee Maoyi has completed the relevant registration procedures, its independent legal person status has been deregistered in accordance with the law, and the transaction closing has been completed. According to the announcement, all assets, liabilities, debts, business, personnel, and other rights and obligations of Xin Hee Maoyi are inherited by the company in accordance with the law. The company stated that this absorption merger is conducive to optimizing the management structure, reducing management costs, and improving operational efficiency. Xin Hee Maoyi is a wholly-owned subsidiary of the company, and its financial statements have already been included in the company's consolidated financial statements. This absorption merger will not have a material impact on the company's normal operations, financial condition, or operating results.
Xin Hee Co LtdAbsorption merger of a wholly-owned subsidiary is an internal restructuring with no material impact on operations or financials.
