freegamestoearncrypto| Ocean King's Board of Directors 'Operations Review in the First Quarter of 2024

The comments on the operation of the board of directors of Ocean King (002724) in the first quarter of 2024 are as follows:

(1) Professional lighting business: Haiwang (002724) is guided by strategy and business objectivesFreegamestoearncryptoTo quickly adapt to the changes in the market environment, take customers as the center, dig deep into customer needs, increase investment in new light sources and new technologies, develop new products that meet customers' core needs, and seize the opportunity of the second replacement of LED and the digital upgrade of customer work scenes. During the reporting period, Ocean King's business income and sales rebate increased compared with the same period last year.

(2) Mingzhihui business of the holding subsidiary: due to the long construction period of the project undertaken by the industry in which Mingzhihui is located, there is a certain lag in the completion, acceptance and audit of the project, which affects the turnover of accounts receivable. Therefore, in the first quarter, Mingzhihui focused on strengthening the collection, solving the problem of fund collection, and set up a working group to manage the payback. At the same time, in order to strengthen the management of operating cash flow, strictly check customers' ability to pay for new projects, and give up projects with poor payback conditions and inadequate funds, resulting in a reduction in the number of newly signed orders. During the reporting period, the number of orders for new projects decreased, the construction period of stock-on-hand order projects was longer, and Mingzhihui's business income and rebate declined compared with the same period last year. Affected by the sharp decline in operating income compared with the same period last year, Mingzhihui's profit was at a loss.