On July 17th, Gelunhui reported that Dengyun Auto-Parts (002715.SZ) held the 6th board of directors' 5th meeting and the 6th supervisor's 5th meeting on July 17th, 2024, and approved the Proposal on the Termination of Issuance of Shares, Payment of Cash to Purchase Assets, Fund-Raising and Related Transactions, agreeing to terminate the issuance of shares, payment of cash to purchase assets, fund-raising, and related transaction matters.
As previously disclosed, the company plans to purchase 218,448,878 shares of Speed Technology Co., Ltd. (hereinafter referred to as the "Target Company"), accounting for 74.97% of the total share capital of the Target Company held by 53 counterparties including Xu Zhongjian and Zhu Bilian, through the issuance of shares and payment of cash, and issue shares to no more than 35 specific targets including Shanghai Huiqu Asset Management Co., Ltd. controlled by the actual controller of the company to raise matching funds (hereinafter referred to as "the transaction").
Since the company planned the transaction, it has strictly followed the relevant laws and regulations, and actively organized all parties involved in the transaction to promote the various work of the transaction. The company has discussed and negotiated the transaction plan with the relevant parties to the transaction many times. Due to significant changes in the market environment compared to the beginning of the transaction planning, there is considerable uncertainty in continuing to promote the transaction at the current stage. In order to effectively safeguard the interests of the company and all shareholders, after consultation with the actual controller of the Target Company, the company has decided to terminate the transaction.