Lingpai Technology announced that the 30th meeting of the 5th board of directors of the company and the 23rd meeting of the 5th board of supervisors deliberated and passed the “Proposal on Termination of the Sale of Major Assets” and agreed to terminate this major asset sale. Since the actual controller change in 2021, the company's strategic development focus has changed, vigorously developed the NEV battery industry, continued to expand investment in the NEV battery industry, and NEV battery business revenue as a share of the revenue of listed companies has continued to increase. In this context, the company plans to divest the surface engineering chemicals business, thereby better concentrating the advantages of existing resources to accelerate the release of production capacity at the company's new energy battery production base, and plans to sell 100% of its shares in Guangdong Dazhi Chemical Technology Co., Ltd. through public listing. However, as of May 9, 2024, the official public listing disclosure period for 100% of Dazhi Chemical's shares has expired. Due to no effective bid from bidders, the official public listing was cancelled. Following the careful decision of the company, this major asset sale will be terminated.