The restructuring plan of Bubugao Commercial Chain Co., Ltd. has made substantial progress. On the evening of July 1st, Bu Bu Gao announced that Bu Bu Gao and its fourteen subsidiaries had received civil rulings from the Xiangtan Intermediate People’s Court, approving the restructuring plan of Bu Bu Gao Co., Ltd. and its fourteen subsidiaries, and terminating the restructuring process of Bu Bu Gao Co., Ltd. and its fourteen subsidiaries. Obtaining approval from the court’s ruling means that Bu Bu Gao Shares has entered the execution stage of the restructuring plan. On the same day, Bu Bu Gao also disclosed the restructuring plan approved by the ruling.
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