琏升科技终止重大资产重组

Core Viewpoint - Liansheng Technology (300051) has announced the termination of its major asset restructuring plan, which involved acquiring a 69.71% stake in Xingchu Century Technology Co., Ltd. [2] Group 1: Transaction Details - The proposed transaction was to be executed through a combination of issuing shares and cash payments [2] - The fundraising was intended to be conducted through the issuance of shares to Hainan Liansheng Technology Co., Ltd., which is the controlling shareholder of Liansheng Technology [2] - The transaction was expected to be classified as a major asset restructuring but not as a restructuring listing [2] Group 2: Related Party Transactions - Hainan Liansheng is considered an affiliated entity, as its chairman, Huang Mingliang, is also the chairman of Liansheng Technology, and other board members hold positions in both companies [2] - Due to the involvement of related parties, the transaction was classified as a related party transaction under relevant regulations [2] Group 3: Decision to Terminate - The decision to terminate the restructuring was made after careful consideration and thorough analysis, as the parties involved could not reach an agreement on key terms such as transaction pricing [2] - Liansheng Technology confirmed that there would be no breach of contract responsibilities for the company or related parties as a result of this termination [2]