Wonderful Kay: Announcement on the Progress of Issuing Shares, Paying Cash to Purchase Assets, and Raising Funds

Wanda Kai announced that the company plans to purchase 100% equity of Zeng Ruizhi Kong from 4 trading partners through the issuance of shares and cash payment, and to raise funds by issuing shares to no more than 35 specific individuals. The company's stock has been suspended from trading since March 24 and will resume trading on April 8. Currently, relevant due diligence, auditing, evaluation, and other work are progressing orderly. This transaction still needs to be further reviewed by the board of directors, approved by the shareholders' meeting, and approved by regulatory authorities. There is uncertainty about whether the transaction will be approved and the timeline for approval.