Leascend announced that the company originally planned to acquire 69.71% of the shares of Xingchu Century through the issuance of shares and cash payment. At the same time, the company intended to issue shares to Hainan Leascend to raise supporting funds, and the transaction was expected to constitute a major asset reorganization. However, due to the failure of the parties involved to reach an agreement on core terms such as the transaction price, in order to effectively safeguard the interests of the company and all shareholders, the company decided to terminate this transaction after careful research and negotiation with the counterparty
