The Board of Directors of JiaChen Holding Group Limited announced that Changzhou Jingang Business Information Consulting Co. Ltd., a wholly-owned subsidiary of the Company, established two wholly-owned subsidiaries in October 2021, Yunhong Low Carbon Environmental Technology (Hubei) Company Limited in Wuxue City, Hubei Province, the People's Republic of China, and Jiachen Carbon Neutral Technology (Changzhou) Company Limited in Changzhou City, Jiangsu Province, the PRC. Yunhong Low Carbon Environmental and Jiachen Carbon Neutral are established in response to the national strategic objectives of "carbon emissions peak" and "carbon neutrality", with an aim of combating white pollution and promoting the technological research and development and application of new types of environmentally friendly materials that are fully degradable. The business scopes of Yunhong Low Carbon Environmental and Jiachen Carbon Neutral are mainly: research and development of new recyclable natural resources, energy retrieval systems and recycling of wastes from building materials; sales of environmental protection equipment; and consultation services for environmental protection. The registered capital of Yunhong Low Carbon Environmental and Jiachen Carbon Neutral is RMB 1 million respectively.