Group 1 - The board of directors of Yangzhou Jinqian Tourism Products Co., Ltd. held its 22nd meeting on July 11, 2025, with all five directors present [2][3][7] - The meeting was legally valid and complied with relevant laws and regulations [3] Group 2 - The board approved the establishment of a wholly-owned subsidiary in Vietnam, named Vietnam Quan Ying Technology Co., Ltd., to support the company's overseas market expansion [4] - The registered capital for the new subsidiary is set at 1.5 million USD, funded by the company's own resources, with a 100% ownership by the parent company [4] - The main business scope of the new subsidiary includes research, production, and sales of outdoor sports equipment and related products [4] Group 3 - The establishment of the subsidiary is subject to approval from relevant government departments and local investment permits, indicating potential registration and operational risks [5] - The company will closely monitor the investment's progress and adhere to legal requirements for timely disclosures [5]