Core Viewpoint - Hualing Precision Engineering has announced the termination of its control change plan, which was aimed at issuing A-shares to Shangrao Juzhun, following a comprehensive assessment of the current capital market environment and the company's development strategy [2][5]. Group 1: Control Change Plan - The company decided to terminate the issuance of A-shares to Shangrao Juzhun, which also means the end of the acquisition of control rights by Shangrao Juzhun [2]. - The company's current controlling shareholder remains Huang Yehua, with the actual controllers being Huang Yehua, Ma Xiping, and Huang Chao [2]. - This is not the first failed attempt at a control change; a previous attempt in 2023 to transfer control to Baoxin Technology's actual controller Ma Wei also failed [8]. Group 2: Financial Performance - Hualing Precision Engineering has faced declining revenues and increasing losses over the past three years, with a reported revenue of 445 million yuan in the first half of this year, a year-on-year decrease of 20.48%, and a net loss of 46.11 million yuan [9]. - The company has been actively working on cost reduction and efficiency improvement while exploring new business opportunities to foster growth [9]. Group 3: Business Operations - Despite the termination of the control change plan, the company stated that it would not adversely affect its normal operations and ongoing development [5]. - The company has established a joint venture with Zhejiang Juzhun Holding Group to develop and sell elevator energy storage products, aiming to expand its business in this area [9].