Chunwang (Hong Kong) Environmental Protection Technology Co., Ltd., A Wholly-owned Subsidiary Of Chunwang
Mar 14, 2016

First, the cancellation situation:

Shenzhen Chunwang Environmental Protection Technology Co., Ltd. (hereinafter referred to as “the company”) held the 21st meeting of the first board of directors of the company on February 13, 2017, and reviewed and approved the cancellation of the wholly-owned subsidiary Chunwang (Hong Kong). The proposal of Environmental Protection Technology Co., Ltd., this proposal still needs to be submitted to the company's shareholders meeting for deliberation.


Second, the basic situation of wholly-owned subsidiaries:

Company Name: Chunwang (Hong Kong) Environmental Protection Technology Co., Ltd.

Company Number: 2024644

Registered capital: HK$10,000

Personal Director: Wang Jianping

Date of establishment: January 10, 2014


The company and all members of the board of directors guarantee the truthfulness, accuracy and completeness of the contents of the announcement, and there are no false records, misleading statements or major omissions, and bear individual and joint legal responsibility for the authenticity, accuracy and completeness of the contents.

Announcement No.: 2017-0032

Accommodation: UNIT 04,7/F BRIGHT WAY TOWER NO.33 MONG KOK RD KL

Nature of business: desiccant, preservative, packaging materials, household goods production and sales, import and export trade.


Third, the reasons for the cancellation of the wholly-owned company, the risks and the impact on the company:

The cancellation of the wholly-owned subsidiary Chunwang (Hong Kong) Environmental Protection Technology Co., Ltd. is conducive to the development of the company's business strategy, optimize the company's internal management structure, improve operational management efficiency, and reduce operating and management costs.


At present, due to the small business volume of Chunwang (Hong Kong) Environmental Protection Technology Co., Ltd., the company will not have a substantial impact on the company's overall business development, production and operation and profitability after its cancellation.


Fourth, the documents for reference:

1. Resolution of the 21st Meeting of the First Board of Directors of Shenzhen Chunwang Environmental Protection Technology Co., Ltd. signed and confirmed by the participating directors.


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