On July 2, Gregory plan (300989.SZ) announced that to further enhance the company's comprehensive competitiveness, according to the company's strategic development plan and the need for overseas business expansion, the company and individuals Chen Xiaoxing, Li Wuliang, and Deng Jun jointly invested in Hong Kong to establish Leo International Development Co., Ltd. (hereinafter referred to as "Leo International"). The registered capital of Leo International is HKD 3 million, of which the company subscribed for HKD 1.53 million with its own funds, accounting for 51% of the registered capital. According to relevant rules such as the "Growth Enterprise Market Listing Rules of Shenzhen Stock Exchange" and the "Articles of Association," the establishment of the controlling subsidiary in this case falls within the decision-making authority of the company's general manager's office and does not require submission to the board of directors or shareholders' meeting for deliberation. The establishment of the controlling subsidiary in this case does not constitute a related party transaction, nor does it constitute a significant asset restructuring as stipulated in the "Management Measures for Major Asset Restructuring of Listed Companies".

Hong Kong is a bridge connecting mainland China and the international market, with significant advantages in location, policies, markets, and talents. The company's investment in setting up a Hong Kong subsidiary is mainly based on business development and strategic planning needs, relying on Hong Kong's geographical advantages, conducive to the company strengthening international cooperation and the development of overseas business, and has a positive impact on the company's long-term development and strategic layout.