HMJT: Termination of the sale of equity in Huizhou Haoningda

According to the Zhitong Finance APP, HMJT (002356.SZ) announced that the company transferred 100% equity of its wholly-owned subsidiary Huizhou Haoningda Technology Co., Ltd. (hereinafter referred to as "Huizhou Haoningda") to Xiangguang Energy (Guangdong) Co., Ltd. at a transaction price of RMB 112 million. On December 14, 2023, the Supreme People's Court issued the Execution Ruling No. 334 (2023) of the Supreme Court, ruling to revoke the Execution Ruling No. 269 of the Guangdong Provincial High People's Court (2021), revoke the Execution Ruling No. 1140 of the Shenzhen Intermediate People's Court of Guangdong Province (2020), and revoke the Execution Ruling No. 129-1 and No. 129-2 of the Shenzhen Intermediate People's Court of Guangdong Province (2019). Due to the revocation of Execution Ruling No. 129-1 (2019), the six properties of Huizhou Haoningda that were subject to execution auction will be applied for restoration to Huizhou Haoningda's name according to the execution reversal procedure. This matter has a significant impact on the value of Huizhou Haoningda's 100% equity, therefore the company convened the 11th meeting of the 6th Board of Directors on March 27, 2024, to review and approve the proposal on signing the Supplementary Agreement to the "Equity Transfer Agreement," and all parties agreed to delay the performance of the "Equity Transfer Agreement" regarding the sale of Huizhou Haoningda's 100% equity by 12 months through friendly consultation. As mentioned above, based on the complexity and time-consuming nature of the execution reversal procedure involved in the Supplementary Agreement, and due to changes in objective circumstances, the parties to the transaction have decided to terminate this transaction after friendly consultation