Summary by Futu AI
CNBM announced the termination of the previous planned Ningxia building materials absorption merger with China National Building Material Information and Cement Asset Restructuring Trade. This decision was made after full communication and friendly negotiation with the Shanghai Stock Exchange and all parties involved, considering the current changes in the capital market environment and the group's strategic planning. Terminating this trade will not have a significant adverse impact on the group's production and operation activities or strategic development. In addition, CNBM also mentioned that due to the termination of the trade, the company failed to fulfill the commitment to avoid competing with Ningxia Building Materials and Tianshan Materials within the agreed period, and will delay the fulfillment of the commitment. This announcement was issued by CNBM on August 9th, 2024.