Core Viewpoint - The company plans to implement a project for an annual production of 60 million pairs of mid-to-high-end cotton socks and 30 million pieces of clothing, with a total investment of 180 million yuan (including 25.18 million USD) located in the Thanh Hoa Industrial Park in Vietnam [1] Group 1 - The project will be funded by Jian Sheng Vietnam Textile Printing and Dyeing Co., Ltd [1] - The new project site demonstrates significant labor resource advantages, providing stable and ample labor supply to support rapid production and subsequent scale expansion [1] - This advantage will help quickly release production capacity and alleviate pressure on existing production bases, aligning with the company's strategy to optimize supply chain layout and reduce regional concentration risks [1]

Group 1 - The company plans to implement a project with an annual production capacity of 60 million pairs of mid-to-high-end cotton socks and 30 million pieces of clothing, with a total investment of 180 million yuan (including 25.18 million USD) [1] - The project will be located in the Thanh Hoa Industrial Park in Vietnam, which demonstrates significant labor resource advantages, providing stable and ample labor supply to support rapid production and subsequent scale expansion [1] - This advantage will help quickly release production capacity, alleviate pressure on existing production bases, and align with the company's strategy to optimize supply chain layout and reduce regional concentration risks, indicating the necessity and feasibility of the new project [1]

Group 1 - The company, Haicheng Bangda, announced a strategic adjustment due to global economic fluctuations and trade policy impacts, leading to lower-than-expected market demand and high operational costs [1] - The company plans to optimize its supply chain and adjust its overseas warehousing operations to a more flexible model to reduce fixed costs and enhance liquidity [1] - An early termination lease agreement was signed with Palmtree, with the lease set to expire on May 31, 2025, and the company agreeing to pay a termination fee of $3.35 million [1] Group 2 - The actual termination cost incurred by the company is $3.35 million, with an estimated liability of $2.1649 million recognized for the non-recoverable deposit and a credit impairment loss of $0.9915 million on the deposit [2] - The remaining termination cost of $193,600 will reduce the company's total profit for the year 2025 [2]