KAN: The holding subsidiary plans to apply for termination of listing

KAN announced that its holding subsidiary, Zhejiang Kaifeng New Materials Co., Ltd., intends to voluntarily apply for the termination of its stock listing on the National Equities Exchange and Quotations. Kaifeng New Materials has a registered capital of RMB 58 million, and the company holds 34.8 million shares, accounting for 60% of the registered capital. As of March 31, 2025, Kaifeng New Materials had unaudited total assets of RMB 611 million, net assets of RMB 437 million, operating income of RMB 140 million, total profit of RMB 9.6005 million, and net profit of RMB 8.2427 million. After the termination of the listing, Kaifeng New Materials will continue to strengthen its operational management capabilities and professional technical level, maintain standardized operations, and promote sustainable and stable development