Valiant Co.,Ltd agreed to Spin-Off unknown stake in Yantai Jiumu Chemical on August 21, 2023. Valiant Co.,Ltd intends to list Yantai Jiumu on a domestic stock exchange. Upon completion, Valiant Co.,Ltd will remain a major shareholder in Yantai.

As of September 4, 2023, the transaction is approved by shareholders of Valiant Co.,Ltd.