Tuobang Co., Ltd. announced that the 29th meeting of the 8th board of directors of the company deliberated and passed the bill to cancel the Hangzhou branch. The Hangzhou branch's original market expansion and customer service functions in East China have already been taken over by the Ningbo subsidiary or Shenzhen headquarters. The purpose of this cancellation is to improve operational efficiency and reduce management costs. This cancellation falls within the scope of approval of the board of directors. There is no need to submit it to the shareholders' meeting for review. It will not cause changes in the scope of the company's consolidated statements, and will not affect the company's finance and business development. The cancellation of this branch still requires approval from the local market supervision and administration department, and the company will go through the industrial and commercial cancellation procedures in accordance with regulations.

Tuobang Co., Ltd. announced that the 29th meeting of the 8th board of directors of the company deliberated and passed the bill to cancel the Hangzhou branch. The Hangzhou branch's original market expansion and customer service functions in East China have already been taken over by the Ningbo subsidiary or Shenzhen headquarters. The purpose of this cancellation is to improve operational efficiency and reduce management costs. This cancellation falls within the scope of approval of the board of directors. There is no need to submit it to the shareholders' meeting for review. It will not cause changes in the scope of the company's consolidated statements, and will not affect the company's finance and business development. The cancellation of this branch still requires approval from the local market supervision and administration department, and the company will go through the industrial and commercial cancellation procedures in accordance with regulations.