On the afternoon of November 26, 2019, the founding meeting and the first general meeting of shareholders of Zhejiang Tianguanshan Liquor Industry Co., Ltd. were successfully held. This is another major reform in the company's development process, marking the company's successful completion of the shareholding system transformation.

The meeting reviewed and approved 17 proposals including the "Report on the Preparatory Work of Zhejiang Tianguanshan Liquor Industry Co., Ltd.", "Articles of Association of Zhejiang Tianguanshan Liquor Industry Co., Ltd. (Draft)", and "Rules of Procedure of the General Meeting of Shareholders (Draft)". The directors of the first board of directors and supervisors of the first board of supervisors were elected. The first meeting of the first board of directors and the first meeting of the first board of supervisors were held respectively. Huang Jicong was elected as the chairman of the first board of directors, Lin Changxing and Chen Guogui were vice-chairmen; Wu Haibo was the chairman of the board of supervisors, and Zeng Youhua and Zhou Weidong were supervisors. . The board of directors appointed Huang Jicong as the general manager, Chen Guogui and Lin Changxing as the deputy general managers, Yang Suzhen as the chief financial officer, and Lin Xiaqin as the secretary of the board of directors.

The newly-elected chairman Huang Jiecong said that after the establishment of Zhejiang Tianguanshan Wine Co., Ltd., it will strictly follow the "Company Law", "Securities Law" and other laws and regulations and the "Articles of Association" to standardize operations and provide customers with high-quality products and Service, with the orientation of less but more refined, better and more, higher prices, through product, marketing, management innovation, expand the market, occupy market share, create the greatest wealth for shareholders, provide employees with good employment conditions and salary and benefits, and contribute to the local economy Contribute to development and lay a solid foundation for listing in the national SME share transfer system.