Ltd., a wholly-owned subsidiary of Shandong Huapeng, transferred 49% equity to Chengdu One Nine One Nine Wine Supply Chain Management Co.

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Ltd. unanimously agreed at the nineteenth meeting of the fifth session of the board of directors to transfer its 49% equity interest in its wholly-owned subsidiary Shanghai Chengwin Network Technology Co.

This equity transfer is in line with the strategic development planning and business development needs of Shandong Huapeng, the purpose is to play their respective advantages based on resources, to promote the rapid development of each other's enterprises, is conducive to enhancing the financial strength and comprehensive competitiveness of Chengwin Technology, can promote the company's business development and operational efficiency, for its project undertaking, business development to provide further support, enhance the comprehensive competitiveness and sustainable business capacity.


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