On the evening of February 13, an announcement was issued stating that in accordance with the company's strategic planning and business development needs, in order to expand the controlled drug business, the company's second-level wholly-owned subsidiary Y Cannabis Holdings Pty Ltd established a wholly-owned subsidiary Yongji Health in New Zealand.

The announcement stated that the establishment of a wholly-owned subsidiary is in line with the company's own strategic layout and business development needs, is conducive to the expansion of overseas controlled drug business, further expands the business layout, and has a positive effect on the company's development and efficiency improvement. In the process of expanding the overseas controlled drug business, the subsidiary may face uncertainties in macroeconomics, industry policy changes, market changes, business management, exchange rate changes, etc. The company will closely monitor the subsequent progress of the subsidiary, actively prevent and respond to various risks that may be faced, and will strictly comply with relevant laws and regulations and promptly fulfill its information disclosure obligations.

It is worth mentioning that the company's 2024 annual performance forecast shows that the operating income of controlled drugs has increased significantly, and is expected to increase by more than 60% over the same period last year.

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