Ningbo Fuda terminates the planning of major asset restructuring matters

According to the announcement from NINGBO FUDA (600724.SH) on January 17, 2025, the company disclosed a "Notice on Planning Major Asset Restructuring and Signing Investment Cooperation Intent Agreement." The company intends to acquire no less than 45% equity in Ningbo Jingxin Electronic Materials Co., Ltd. (hereinafter referred to as "Jingxin Materials" or "Target Company") through cash payment via equity transfer or capital increase. At the same time, the shareholder Hou Xiaobao of Jingxin Materials will ensure that the listed company holds no less than 51% of the voting rights in the Target Company by entrusting or transferring no less than 6% of the voting rights to the listed company. After thorough and prudent research and friendly negotiations with the relevant parties, the company has agreed to terminate the further advancement of this transaction.

This transaction is still in the planning stage. As of the date of the announcement, the parties involved have not reached a substantial agreement on the specific plan. The termination of this transaction is the result of full communication, careful analysis, and friendly negotiation among the parties, and there is no need for any party to bear any breach of contract liability for the termination. The termination of this major asset restructuring will not have a significant adverse impact on the company's existing production and operation activities, financial status, and strategic development, and there is no situation that harms the interests of the company and all shareholders, especially minority shareholders