Core Viewpoint - The company announced the termination of the equity transfer agreement for its subsidiary, Guangdong Kangli Elevator Co., Ltd., due to the failure to obtain necessary approvals by the designated deadline [1] Group 1: Transaction Details - The company agreed to sell 100% equity of its subsidiary, Guangdong Kangli Elevator, for 343 million yuan to Zhongshan Xiwang Construction Investment Co., Ltd. [1] - A supplementary agreement was signed on June 25, 2025, which modified the payment terms and extended the approval timeline for the transaction [1] Group 2: Approval and Termination - As of the announcement date, the transaction party had not received all necessary approvals within the stipulated timeframe, leading to the automatic termination of the equity transfer agreement [1] - According to the supplementary agreement, if approvals were not obtained by August 31, 2025, the contract would automatically terminate without any party bearing liability for breach [1]