Core Viewpoint - The company announced the termination of a major asset restructuring plan to acquire 83.7775% of Guizhou Weidun Crystal Phosphorus Electronic Materials Co., Ltd. due to a lack of consensus on key terms and changes in market conditions [1][2] Group 1: Transaction Details - The company had previously invested in Weidun Crystal Phosphorus, contributing 64.26 million yuan in 2020 and receiving 8.13 million yuan in returns the following year [1] - In 2022, the company made an additional investment of 24.99 million yuan, raising its total long-term equity investment to 115 million yuan [1] - After Weidun Crystal Phosphorus completed a Pre-IPO round of financing in July 2023, the company sold 12.1% of its shares for 210 million yuan, reducing its stake to 14.81% [1] Group 2: Strategic Implications - The termination of the acquisition does not alter the company's strategic direction in the electronic materials sector, as it aims to accelerate its layout in electronic materials and core components [2] - The company has established the first fully domestically produced 12-inch wafer gas station in China, with a second station now operational, indicating a strong foundation in material autonomy [2] - The company plans to continue its strategy of combining independent research and cautious acquisitions to enhance its business landscape [3]