HESH announced that the company will hold the 10th meeting of the 3rd Board of Directors and the 10th meeting of the 3rd Supervisory Board on April 23, 2025, to review and approve the proposal on terminating certain fundraising investment projects, agreeing to terminate the "Hainan HESH Jingcai Trading Co., Ltd. Cross-Border E-Commerce Project." The total budgeted investment for this project is 26 million yuan. Due to market conditions, the company's actual operations, and other factors, the benefits did not meet expectations. To reduce investment risks, improve the efficiency of fundraising usage and investment returns, and protect the interests of the company and all shareholders, the project is proposed to be terminated. The remaining raised funds will be transferred to a special account for over-raised funds and the corresponding special fundraising account will be canceled
