IKD to absorb wholly-owned subsidiary, Ningbo Xinfly

IKD Co., Ltd. announced that it will absorb and merge its wholly-owned subsidiary, Ningbo Xinfly Science & Trade Co., Ltd, with a base date of June 30, 2025. The decision, initially approved at the board meeting on October 29, 2024, and later ratified by the extraordinary general meeting, aims to streamline organizational management, improve operational efficiency, and reduce management costs. Upon completion of the merger, Ningbo Xinfly's independent legal entity status will be canceled, while IKD will continue operations, maintaining its existing name and registered capital. The board of directors was authorized to handle all related matters.