According to the Nanning Department Store announcement, Guilin Nanbaizhu Wood Industry Development Co., Ltd., the holding subsidiary of the company, applied for bankruptcy and liquidation with the Guilin Intermediate Court as a creditor in April 2019. The court decided to accept it in August of the same year, and the company was declared bankrupt in July 2020. Recently, the company received a court ruling to end its bankruptcy procedure because Guilin's bamboo and wood bankruptcy estate was insufficient to pay bankruptcy expenses. All of the company's assets involving Guilin Bamboo and Wood were fully prepared for impairment in 2015. Guilin Bamboo and Wood are no longer included in the scope of the consolidated statements, and this liquidation will not have a significant impact on the company's current or post-period profits.

According to the Nanning Department Store announcement, Guilin Nanbaizhu Wood Industry Development Co., Ltd., the holding subsidiary of the company, applied for bankruptcy and liquidation with the Guilin Intermediate Court as a creditor in April 2019. The court decided to accept it in August of the same year, and the company was declared bankrupt in July 2020. Recently, the company received a court ruling to end its bankruptcy procedure because Guilin's bamboo and wood bankruptcy estate was insufficient to pay bankruptcy expenses. All of the company's assets involving Guilin Bamboo and Wood were fully prepared for impairment in 2015. Guilin Bamboo and Wood are no longer included in the scope of the consolidated statements, and this liquidation will not have a significant impact on the company's current or post-period profits.