Pola Orbis Plans New Subsidiary in China

Pola Orbis Holdings declared the formation of a new subsidiary, aimed at managing and regulating its regional operations within the burgeoning Chinese market.

In addition, POLA INC. (“POLA”) and ORBIS Inc. (“ORBIS”), which are wholly-owned subsidiaries of the Company, each resolved at their respective Board of Directors meetings, held on November 20, 2023, to distribute to the Company as dividends in kind all equity interests of Shanghai POLA Trading Co., Ltd. (“POLA Shanghai”), which are held by POLA, and all equity interests of Orbis Beijing Inc. (ORBIS Beijing), which are held by ORBIS. As a result, the Company will directly hold all equity interests of POLA Shanghai and ORBIS Beijing, and there will be a transfer of the Company’s sub-subsidiaries.<