Topstrong announced that the "Equity Acquisition Letter of Intent" signed with Feng Dan has automatically terminated due to the failure to reach a substantive agreement by March 31, 2025. This termination will not have an adverse impact on the company's operating performance and financial condition, nor will it harm the interests of the company and all shareholders. The company and the counterparty had actively communicated and cooperated in due diligence, but failed to reach a final transaction consensus, thus no formal equity transfer agreement was signed. This termination only involves a letter of intent and has no legal effect