Core Viewpoint - Sineng announced the termination of the share issuance and cash payment for asset acquisition and related fundraising, planning to hold an investor briefing on January 27, 2026 [2] Group 1: Termination of Asset Acquisition - On January 25, 2026, Sineng approved the resolution to terminate the major asset restructuring transaction and signed a termination agreement with the counterparties, while also withdrawing the application documents [2] - The company had previously planned to acquire 71% of Qingdao Kekai Electronic Research Institute Co., Ltd. through share issuance and cash payment from 23 counterparties [2] Group 2: Business Overview of Kekai Electronics - Kekai Electronics specializes in the research, production, and sales of high-reliability microcircuit modules, with main products including motor drivers, light source drivers, signal controllers, and other microcircuit products [2] - Since 2004, Kekai Electronics has focused on the high-reliability microcircuit module sector, serving clients primarily from military enterprises and research institutes, providing reliable, high-quality, and technologically advanced microcircuit products [2] - The company submitted an IPO application to the ChiNext board last year, which was accepted, but later withdrew the listing application in April 2024, leading to the termination of the listing review by the Shenzhen Stock Exchange [2]