Minshang Creative Technology Holdings Ltd. has announced the consolidation of Minshang Zhihui's results into its own. This development follows a change allowing Minshang Creative Technology to exercise majority control over the board of directors of Minshang Zhihui, transforming it into a non-wholly owned subsidiary. The financial results of Minshang Zhihui will be consolidated into Minshang Creative Technology's financial statements starting from the fiscal year ending March 31, 2026. The Merchandise Purchase Agreement, dated January 1, 2025, between Minhui and Minshang Zhihui, spans from January 1, 2025, to December 31, 2027. This agreement is part of the transactions set to be consolidated. Wu Jiangtao, Chairman of Minshang Creative Technology Holdings Ltd., made the announcement on June 17, 2025.
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