Tranche Update on Hangzhou Wensli Silk Culture Co., Ltd.'s Equity Buyback Plan announced on November 24, 2022.

Hangzhou Wensli Silk Culture Co Ltd is a China-based company engaged in the research and development (R&D), design, production and sales of silk related products. The Company's main products can be divided into silk cultural and creative products and silk textile products. The silk cultural creative products mainly include silk scarves, combination suits, home textiles, brand clothings, scarves, silk crafts and other products. The silk textile products mainly include silk fabrics, branded clothings, digital printing products and other products. The Company also produces mask products. The Company's products have been exported to Europe, North America, Asia and other regions.