Dongguan Development's subsidiary exits partnership

Dongguan Development Holdings (SZSE:000828) announced that its holding subsidiary, Tianjin Hongtong Commercial Factoring Co., Ltd., will withdraw from Dongguan Fumin Hongze No. 1 Equity Investment Fund Partnership (Limited Partnership). The decision comes as the partnership has not yet commenced actual investment and business operations, rendering its original purpose unattainable. Hongtong Commercial Factoring initially contributed CNY 10 million as its first capital contribution, as per fund registration requirements. The withdrawal will allow Hongtong to recover its initial investment and related interest income from bank deposits. The company expects the withdrawal to have no material impact on Hongtong's financial standing or business operations, and will not harm the interests of the company and all shareholders.