Mlily announced on the evening of 20th that the company is planning a major event, the company or the company's controlling subsidiary intends to acquire Mor Furniture For Less, Inc. has issued 80%-85% of the common stock and all of the company's derivative securities. This transaction is an important measure of the company under the Mlily brand globalization strategy. It is another important layout of the company in the global home market following the acquisition of Simon of Spain and the establishment of production bases in Serbia, the United States and Thailand.

According to the company, the acquisition will not only enable the company to rapidly deploy the US West Coast mattress and soft furniture retail market, accelerate the promotion of the Mlily brand, but also absorb the management experience of the target company in brand operation, marketing and sales channel construction. In addition, if the transaction is completed in the current year, the company will obtain the operational control of the target company, which will have a positive impact on the company's performance.