Toly Bread Plans to Deregister Two Wholly-Owned Subsidiaries, Qingdao Toly and Changchun Food

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Toly Bread announced that, based on actual operating conditions and future business development plans, it intends to deregister its wholly-owned subsidiaries Qingdao Toly and Changchun Food. Both subsidiaries have had no actual operating revenue in recent years. The company stated that this deregistration will not have a significant impact on overall business development and profitability, will not materially affect the consolidated financial statements, and overall risks are controllable.

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