China Hongguang (08646.HK) announced that on May 12, 2022, the company entered into a termination agreement with Bright Global, under which the Company and Bright Global mutually agreed to terminate the Equity Sale Agreement immediately. After the execution of the termination Agreement, the obligations and obligations of the Company and Bright Global under the Equity Sale and purchase Agreement have been discharged; the Company has not paid any deposit in respect of the acquisition and there is no need for the parties to make any compensation to each other. The reason for entering into the termination Agreement is that certain prerequisites under the Equity Sale and purchase Agreement have not been met, including that the necessary information for the preparation of the circular on the Equity Sale and purchase Agreement is not yet available, as a result, the company was unable to obtain the approval of the independent shareholders on the terms of the Equity Sale and purchase Agreement.