Summary by Moomoo AI
Chongqing Hongqiu Fruit Co., Ltd. (“Hongqiu Fruit Products”) announces that the share subscription agreement originally signed with the Subscriber on 4 April 2023 with the Submitter to issue no more than 30,487,802 non-listed ordinary shares has been terminated. The agreement was originally planned to be conducted at a price of RMB16.40 per share, but due to the exceeding expected execution cycle of the issuance, combined with current capital market conditions and the actual development needs of the Company, after friendly consultations and a Board resolution, the Company decided to terminate the issuance and withdraw the application materials to the China Securities and Exchange Commission. On May 10, 2024, the Company received notice of termination of the review by the China Securities and Exchange Commission. Upon termination of the Agreement, the relevant documents will no longer be legally binding and the Company will refund the initial subscription price paid by the Subscriber and the corresponding capital charge. Hung Ku Fruit's H shares have been suspended from 20 March 2024 pending the announcement of the annual results.