ST Cedar Development: The company maintains independence from related parties such as Xuesong Industrial

On June 12th, ST Cedar Development announced that the cumulative deviation value of the closing price increase of its stock exceeded 12% for three consecutive trading days, which constitutes abnormal stock trading fluctuations. Although the company and related parties such as Xuesong Industrial are controlled by the same actual controller, the company is completely separate from related parties such as Xuesong Industrial in terms of business, personnel, assets, institutions, and finances, maintaining independence. Therefore, the matters related to Xuesong Industrial and other related parties will not have a significant adverse impact on the company's normal operations and corporate governance