KIBING announced that it has terminated the transaction for the issuance of shares to acquire 28.78% equity in its controlling subsidiary KIBING Solar. Given that this transaction has been in planning for a long time, combined with changes in the current market environment, transaction cycle, secondary market, and the actual situation of the target company compared to the initial planning stage, in order to effectively safeguard the long-term interests of the listed company and the majority of investors, the company, after full communication and friendly negotiation with relevant parties, careful research, and thorough demonstration, intends to terminate this transaction and sign the relevant termination agreement with the parties involved