Group 1 - The company held its 22nd meeting of the 7th Board of Directors on May 16, 2025, via communication methods, with all seven directors present, meeting legal requirements [1] - The board approved a resolution to jointly invest in the establishment of Guangzhou Duty-Free Shop Co., Ltd. with China Duty Free Group Co., Ltd., Guangzhou Lingnan Group Holdings Co., Ltd., and Guangzhou Baiyun International Airport Co., Ltd. [1] - The company will invest 8.775 million yuan, accounting for the registered capital of the new entity [1] Group 2 - The related director, Chen Qianwen, abstained from voting on this proposal [2] - The proposal was reviewed and approved by the company's second independent director meeting of 2025 [2]