Lygend Resources & Technology Company Limited (Ningbo) (China)

Lygend Resources & Technology Company Limited is a Hong Kong-based company that was established as a joint-stock limited company by Gan Yuan Co., Ltd. On August 15, 2012, an audit report issued by Pingxiang Delong Certified Public Accountants Co., Ltd. confirmed that Gan Yuan Co., Ltd. had audited net assets of 11,517,893 yuan as of July 31, 2012. On August 16, 2012, Pingxiang Guoshi Asset Appraisal Firm issued an asset appraisal report confirming that Gan Yuan Co., Ltd. had appraised net assets of 11,665,656.30 yuan as of July 31, 2012. On August 17, 2012, Pingxiang Delong Certified Public Accountants Co., Ltd. verified the capital verification report, confirming that the company had received the audited net assets of 11,517,893 yuan owned by all investors as of July 31, 2012. The net assets were converted into initial paid-in capital of 10,500,000 yuan, with Yan Binsheng contributing 9.5 million yuan and Yan Haiyan contributing 1 million yuan. The difference between the net asset value and the paid-in capital was included in the capital surplus of the issuer. On August 20, 2012, all shareholders of Gan Yuan Co., Ltd. signed a promoter agreement and held the Gan Yuan Food Establishment Conference on the same day to transform Gan Yuan Co., Ltd. into a joint-stock limited company. The total capital was 50 million yuan, with a total of 50 million shares, each with a face value of 1 yuan. The promoters subscribed to the corresponding amount of capital based on their proportion of investment in Gan Yuan Co., Ltd. The initial capital of the issuer was 10.5 million yuan, equivalent to the audited net asset value of 11.517893 million yuan, and the difference of 1.017893 million yuan was included in the capital surplus of the issuer. The remaining part of the total capital was to be paid in by the promoters within two years from the date of establishment of the joint-stock company. On August 28, 2012, the company obtained the business license as a legal entity from the Pingxiang Municipal Administration for Industry and Commerce. On July 18, 2018, Wanhong Evaluation, which has the qualification of securities and futures asset appraisal, issued a review report on the asset appraisal report of Pingxiang Guoshi Asset Appraisal Firm, confirming its accuracy.