Kexin Development Co.,Ltd,Shanxi (China)

Kexin Development Co., Ltd, located in Shenzhen, is primarily engaged in the real estate leasing business. Additionally, the company produces and sells small and medium-sized LED backlight products and provides entrusted processing and brand management services for video products. Due to intensified competition in the industry and various factors such as increased raw material and labor costs, the company is facing difficulties in financing. In the future, the company plans to continue negotiating with creditors, promote debt restructuring, reduce debt, improve its financial situation, integrate existing resources, actively seek main business opportunities with good development potential, and enhance internal control standards, risk prevention mechanisms, and corporate governance mechanisms. The company aims to overcome its current challenges, strengthen its sustainable operating capabilities, and embark on a path of healthy and continuous development. On September 8, 2021, the company changed its Chinese name from "Shanxi Guanghe Shanshui Cultural Communication Co., Ltd." to "Shanxi Kexin Development Co., Ltd."