First announced that its wholly-owned subsidiary, Jiangsu First, intends to acquire 13% equity of Hunan First held by related natural person Liu Meiyuan for 4.7866 million yuan. Upon completion of the acquisition, Jiangsu First will hold 100% equity of Hunan First. Hunan First has a registered capital of 10 million yuan, and its main financial data for the past year is as follows: total assets of 69.3619 million yuan, net assets of 52.6091 million yuan; operating income of 58.4555 million yuan and net profit of 4.6052 million yuan for the year 2024. This related transaction does not constitute a major asset reorganization and does not require submission for shareholder meeting approval
