YongLi: Plans to jointly invest with related parties to establish a joint venture company

YongLi announced that the company plans to jointly invest with Shenzhen Baida Enterprise Management Partnership, Shanghai Yongbaisheng Enterprise Management Partnership, and individual Shi Jing to establish a joint venture company, Baiwen Technology (Shenzhen) Co., Ltd. The registered capital of Baiwen Technology is RMB 5 million, of which the company intends to contribute RMB 2.55 million in its own funds, accounting for 51% of the registered capital of the joint venture; Shenzhen Baida intends to contribute RMB 1.75 million in its own funds, accounting for 35% of the registered capital of the joint venture; Shanghai Yongbaisheng intends to contribute RMB 500,000 in its own funds, accounting for 10% of the registered capital of the joint venture; and Shi Jing intends to contribute RMB 200,000 in his own funds, accounting for 4% of the registered capital of the joint venture