Tranche Update on Xiamen Hexing Packaging Printing Co., Ltd.'s Equity Buyback Plan announced on June 15, 2021.

Xiamen Hexing Packaging Printing Co., Ltd is a China-based company principally engaged in research, development, design, manufacture, sales and services of corrugated cartons, cardboards and buffer packaging materials. The Company's major products include high and mid grade corrugated cases and corrugated boards, colorful boxes, books and magazines, as well as cushion packaging materials, including extruded polyethylene (EPE) materials, honeycomb products and pulp molding products, among others. The Company’s products are applied in packaging of electronic products, household electrical appliances and food, among others. The Company distributes its products mainly in domestic market.