Zhitong Finance APP News, LUQI Culture (00550) announced that the company is currently taking action to resolve audit matters and is closely cooperating with auditors to review the company's comprehensive financial statements for the year ended December 31, 2023. The company will do its utmost to release unreleased financial performance and reports, and work closely with professional parties to strive for the expected timetable for resumption conditions.

Although trading in shares has been suspended, the company's main and core business (i.e., advertising business) has not been affected and is in normal operation. The publishing and digital advertising platforms operated by the company (known as Recruit and Like magazine) remain unaffected and are in normal publishing distribution status.

The e-commerce division, as a small business unit of the company, continues to operate in its smallest form to date. Nevertheless, the group will explore business opportunities in the e-commerce division to diversify sources of income and improve the group's profitability in the long term.

On the other hand, given that the 2019 coronavirus disease has subsided and the demand for medical and health products has decreased, the company has gradually ceased the operation of the medical and health product sales division. Considering the minimal financial contribution of this division to the company, the company believes that terminating the division will not have a significant impact on the company's overall financial performance.

In addition, the trading of the shares remains suspended.