Gelonghui, May 10, 丨 Haiyuan Composites (002529.SZ) announced that the company held the 5th meeting of the 6th board of directors on May 10, 2024 to review and pass the “Proposal on Cancellation of Wholly-owned Subsidiaries” with 7 votes in favor, 0 against, and 0 abstentions, and agreed to cancel Yangzhou Saiwei Energy Technology Co., Ltd. (“Yangzhou Saiwei” for short), a wholly-owned subsidiary of the company.
The cancellation of the wholly-owned subsidiary is based on the company's own strategic layout and business development needs, further optimizes the company's management structure and resource allocation, improves operational efficiency, and is conducive to improving the company's overall operating efficiency and operational quality. After the cancellation is completed, Yangzhou Saiwei will no longer be included in the scope of the company's consolidated statements.