MONTNETS TECHNOLOGY: Termination of Major Asset Restructuring Matters
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According to the announcement from Zhitong Finance APP, MONTNETS TECHNOLOGY announced that it previously disclosed its plan to issue shares and pay cash to acquire all shares of Hangzhou Bicheng Digital Technology Co., Ltd. ("Target Company") and raise matching funds ("This Transaction"). Due to a contractual dispute, the equity of the Target Company held by the counterparty, Hangzhou Chengxiang Enterprise Management Partnership (Limited Partnership), has been frozen, resulting in restrictions on transfer, which does not meet relevant regulatory requirements. The company has decided to terminate this transaction
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