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On February 24, the inaugural meeting of Kailong High-Tech Co., Ltd. was grandly held at Kailong headquarters. All 16 shareholders and shareholder representatives attended, representing 65 million shares with voting rights, accounting for 100% of the company's registered capital. The meeting reviewed and passed various proposals, elected the first board of directors and the first supervisory board, and unanimously approved the company's Articles of Association, Rules of Procedure for Shareholders' General Meeting, Rules of Procedure for the Board of Directors, Rules of Procedure for the Supervisory Board, and Detailed Rules for the General Manager's Work.

Following the meeting, the first meeting of the first board of directors was convened, electing Zang Zhicheng as Chairman. The first meeting of the first supervisory board was also held, electing Sun Jiping as Chairman of the Supervisory Board.

Chairman Zang Zhicheng delivered a speech on behalf of Kailong High-Tech Co., Ltd., stating that the restructured Kailong would stand at a higher starting point. The company would further improve its management level and profitability, continuously expand production scale and market share, and lay a solid performance foundation for a successful IPO.

Chairman Zang also expressed that the company would fully respect the equal rights of all shareholders, earnestly safeguard the common interests of all shareholders, and accelerate the injection of subsequent assets and the IPO process. He hoped all shareholders would closely follow the development of the joint-stock company, contribute ideas and suggestions for the company's growth, and work together to paint a beautiful blueprint for Kailong's reform and development, driving new leapfrog growth.

On February 28, Kailong High-Tech Co., Ltd. received its business license issued by the Wuxi Administration for Industry and Commerce, marking the official establishment of the joint-stock company and the company's governance and development entering a higher stage.