BANGYAN TECHNOLOGY terminates the acquisition of 100% shares of Xingwang Xintong

BANGYAN TECHNOLOGY announced the termination of its plan to acquire 100% of the shares of Shenzhen StarNet Communication Technology Co., Ltd. The company originally planned to carry out the acquisition through the issuance of shares and cash payment, and to raise matching funds. On May 25th, the board of directors reviewed and approved the relevant proposal, deciding to terminate this transaction and authorized the management to handle related matters

According to the Zhitong Finance APP, BANGYAN TECHNOLOGY (688132.SH) announced that the company previously planned to acquire 100% of the shares of Shenzhen StarNet Communication Technology Co., Ltd. from 16 trading counterparts, including Zhang Haixin, Shenzhen Jinzhen Technology Co., Ltd., Shenzhen Xincheng Hengfu Enterprise Management Co., Ltd., and Shenzhen Xinyu Investment Enterprise (Limited Partnership), through the issuance of shares and cash payment, while raising matching funds.

On May 25, the company's board of directors reviewed and approved the proposal on terminating the issuance of shares and cash payment for asset acquisition and raising matching funds, agreeing to terminate this issuance of shares and cash payment for asset acquisition and raising matching funds, and authorized the company's management to handle the relevant matters of this termination