Befar Group announced that on October 30, 2024, the company held the twenty-sixth meeting of the fifth session of the Board of Directors and the twentieth meeting of the fifth session of the Supervisory Board, and approved the "Proposal on Terminating the Issuance of Stocks to Specific Parties and Withdrawing the Application Documents". On November 1, 2024, the company and the sponsor institution Citic Securities submitted to the Shanghai Stock Exchange the application for withdrawing the application documents for issuing stocks to specific parties and revoking the sponsorship work. On November 7, 2024, the company received the Shanghai Stock Exchange's decision to terminate the review of the issuance of stocks to specific parties for Befar Group, as the Shanghai Stock Exchange decided to terminate the review of the company's issuance of stocks to specific parties.