Xinhua News Agency, May 12, Guangzhou Langqi announced that the company is planning a major asset exchange with the controlling shareholder Light Industry Group. Light Industry Group intends to replace assets with not less than 51% of Xinshicheng shares held by the company and the equivalent parts of Nansha Langqi 100% equity, Shaoguan Langqi 100% equity, Liaoning Langqi 100% equity, and Daily Chemical Institute 60% equity, and the replacement difference will be made up in cash (if any). Xin Shicheng is mainly engaged in the development and operation of cultural and creative industrial parks. After the transaction, Xin Shicheng becomes a holding subsidiary of the company, the company will no longer operate daily chemical business, the main business will be transformed into the development and operation of food and cultural and creative industrial parks.