CIXING(SZ:300307) Zheng Quan Zhi Xing·2025-08-01 16:23Core Viewpoint - Ningbo Cixing Co., Ltd. has decided to terminate the issuance of shares and cash payment for asset acquisition, as well as the fundraising related to this transaction due to failure to reach consensus on commercial terms with some counterparties [1][2][3] Transaction Overview - The company intended to acquire 75% of the shares of Shunyi Technology Co., Ltd. through the issuance of shares and cash payment, along with raising funds from no more than 35 specific investors [1] - The company had disclosed the transaction plan and resumed trading on June 4, 2025 [1] Progress of the Transaction - The company actively coordinated with all parties involved to conduct audits, evaluations, and due diligence on the target company, adhering to relevant regulations [2] - Regular progress announcements were made in compliance with the regulations governing major asset restructuring [2] Reasons for Termination - After multiple rounds of negotiations, the company could not reach an agreement on certain commercial terms with some counterparties, leading to the decision to terminate the transaction to protect the long-term interests of all shareholders [2][3] Decision-Making Process - The decision to terminate the transaction was approved in the 17th meeting of the fifth board of directors, and it did not require submission to the shareholders' meeting [3] Impact of Termination - The termination was made after careful consideration and does not involve any breach of contract responsibilities [3] - Despite the unsuccessful collaboration, Shunyi Technology acknowledged the company's professionalism and diligence, and the company looks forward to future cooperation in technology innovation [3] Commitment - The company commits not to plan any major asset restructuring within one month following the announcement of the termination [4] - The board expressed apologies for any inconvenience caused to investors and thanked them for their continued support [4]