[Titanium Media Integration] On the afternoon of Dec. 10, Jinli held the second meeting of Jinli Operating Creditors, which confirmed that Jinli would undergo bankruptcy reorganization. There are about forty or fifty suppliers, including both large suppliers and small and medium suppliers. According to the "Framework of Reorganization Program" documents obtained by Netease Cleanup Studio, after the restructuring, Jinli set up an asset management company and operation company. Asset management companies are 100% owned by creditors, holding high-quality non-core assets of Yuanjinli Group, etc. Operating companies are mainly engaged in mobile phone brand authorization and mobile Internet business, and their equity is owned by creditors. Whether to allocate a certain equity to management and Yuanjinli Group shareholders, except those responsible, is determined by creditors. The content of the Agreement on Concerted Action mainly includes: entering the judicial procedure as soon as possible, restructuring the bankruptcy of Jinli Group; setting up an asset management company to control the assets that can be realized by the former Jinli Group; original shareholders and management group except those responsible for it.