Summary by Futu AI
WISDOMCOME GROUP ANNOUNCED ON 16 JANUARY 2024 THAT DUE TO CURRENT MARKET CONDITIONS AND INVESTOR SENTIMENT, THE COMPANY AGREED IN CONSULTATION WITH OUTSOURCING COMPANIES TO TERMINATE THE ORIGINAL SUPPLY AND OUTSOURCING AGREEMENT, WHICH WILL NO LONGER HAVE ANY FURTHER EFFECT WITH IMMEDIATE EFFECT. This means that the company will not make the previously planned dividend and the relevant shares will not be issued. The Board considers that the termination of the offering will not materially adversely affect the financial condition or operations of the Group and will seek other fundraising avenues to improve the financial condition and implement the business plan. The Company will also refund all interest-free shares and additional share applications on or before January 23, 2024. The members of the Board of Directors include Executive Directors Chen Ende, Lin Ming Shing, Xiao Ruohong, Luo Jiaqi, as well as Independent Non-Executive Directors Li Qinhui, Lo Yuxuan, Ho Xiuping, Zhang Liang.