On the evening of August 16, the home improvement company iSpace Group issued the “Notice on the Business Strategy Adjustment of iSpace's Beijing Subsidiary”. From now on, iSpace's Beijing subsidiary will completely suspend the complete retail business and simultaneously begin internal restructuring and business optimization work. For all complete retail projects in the Beijing region, the company will carry out special tasks such as house-to-house contract cancellation, project loss determination, and debt accounting in an orderly manner, and formulate corresponding follow-up disposal plans. Offline stores in the Beijing area have been completely closed, and no new retail orders will be accepted during the recuperation period. This adjustment only targets iSpace's Beijing subsidiary and is a partial regional business optimization measure for the Group. The headquarters of iSpace Group continues to operate normally and stably. Regional subsidiaries in Shanghai, Tianjin, Taiyuan, Langfang, Zhengzhou, Guangzhou and other regions of the country are operating well, the business is operating normally, the assembly business and delivery work are progressing in an orderly manner, and the regional subsidiaries are all independent of the Beijing subsidiary, and each is responsible for its own operations.

On the evening of August 16, the home improvement company iSpace Group issued the “Notice on the Business Strategy Adjustment of iSpace's Beijing Subsidiary”. From now on, iSpace's Beijing subsidiary will completely suspend the complete retail business and simultaneously begin internal restructuring and business optimization work. For all complete retail projects in the Beijing region, the company will carry out special tasks such as house-to-house contract cancellation, project loss determination, and debt accounting in an orderly manner, and formulate corresponding follow-up disposal plans. Offline stores in the Beijing area have been completely closed, and no new retail orders will be accepted during the recuperation period. This adjustment only targets iSpace's Beijing subsidiary and is a partial regional business optimization measure for the Group. The headquarters of iSpace Group continues to operate normally and stably. Regional subsidiaries in Shanghai, Tianjin, Taiyuan, Langfang, Zhengzhou, Guangzhou and other regions of the country are operating well, the business is operating normally, the assembly business and delivery work are progressing in an orderly manner, and the regional subsidiaries are all independent of the Beijing subsidiary, and each is responsible for its own operations.