In response to the filing of the case by the Securities Regulatory Commission, on November 2, Wanchen Group, the parent company of Haoxianglai, stated, “This investigation mainly focuses on matters relating to the timeliness of disclosure of temporary information on related transactions. It has nothing to do with the main business, and the company is operating smoothly. The relevant information disclosure matters have been rectified. We will fully cooperate with supervision and verification, and take this opportunity to investigate and fill gaps and strengthen internal control over information disclosure.”

In response to the filing of the case by the Securities Regulatory Commission, on November 2, Wanchen Group, the parent company of Haoxianglai, stated, “This investigation mainly focuses on matters relating to the timeliness of disclosure of temporary information on related transactions. It has nothing to do with the main business, and the company is operating smoothly. The relevant information disclosure matters have been rectified. We will fully cooperate with supervision and verification, and take this opportunity to investigate and fill gaps and strengthen internal control over information disclosure.”