Yongjin Co., Ltd. issued an announcement of Zhejiang Yongjin Metal Technology Co., Ltd. on the termination of the investment in Indonesia and the progress of foreign investment.

Zhejiang Yongjin Metal Technology Co., Ltd. (hereinafter referred to as "Company") held the 13th meeting of the Fifth Board of Directors on January 11, 2022 and February 9, 2022, respectively. , Review and approve Zhejiang Qingzhan Industrial Co., Ltd. (hereinafter referred to as "Youth Show Industry"), a company with the then affiliated parties, jointly invested in the establishment of Golden Metal Technology (Indonesia) Co., Ltd. (hereinafter referred to as "project company") in Indonesia, and the construction year Processing 700,000 tons of wide -width cold -rolled stainless steel plate projects. For details, please refer to the "Announcement on the Establishment of Holding Subsiders and Related Transactions" disclosed by the company on January 13, 2022 (announcement number: 2022-012).

On October 4, 2022, the project company completed the industrial and commercial registration procedures in Indonesia. As of now, the project has not yet started. Due to factors such as industrial policies, trade policies, and market demand, after negotiation with the joint venture of the joint venture, the two parties jointly decided to terminate the investment in the project and agree to cancel the project company.

On June 1, 2023, the company intends to terminate investment construction projects in Indonesia with the 38th meeting of the company's 5th board of directors, and agree to cancel relevant project companies, and authorize the company to operate follow -up related procedures.

Yingjin said that the company's investment agreement signed in the early stage has been negotiated with the agreement of the agreement. The follow -up layer will determine the specific termination method according to the actual situation.

After the establishment of an Indonesian investment project proposed by the company, after the establishment of the project company, it has not carried out substantial business activities, and the cancellation of the project company will not have a significant impact on the company.

Given that the project has not been implemented in detail and did not invest in actual investment, the termination of Indonesian project investment will not have a significant impact on the company's financial conditions and operating results. There are no situations that harm the interests of the company and all shareholders.