On April 30, Ge Longhui Communications (300711.SZ) announced that the company held the 6th meeting of the 5th board of directors and the 4th meeting of the 5th board of supervisors on April 30, 2024 to review and pass the “Proposal on Termination of the Company's Major Asset Purchases and Related Transactions”. The company originally intended to acquire 60% of Guangdong Jitong Information Development Co., Ltd. (hereinafter referred to as “Jitong Information” or “Target Company”) through cash payment (hereinafter referred to as “this major asset restructuring” or “this transaction”). The transaction constituted a major asset restructuring.

Since the company planned and first announced this transaction, the company has strictly complied with the requirements of relevant laws, regulations and regulatory documents, and actively organized all parties involved in the transaction to advance all aspects of this major asset restructuring.

In view of the promotion of this major asset restructuring period, the company made certain strategic adjustments in line with changes in the external environment and adjusted its capital operation strategy accordingly. After careful research by the company, it is believed that the relevant conditions for continuing to advance this major asset restructuring are not mature enough at this stage. In order to effectively protect the interests of the company and all shareholders, after friendly negotiations between the company and the counterparty, the parties to the transaction agreed and jointly decided to terminate the transaction, and the company and each counterparty signed an agreement relating to the termination of this transaction.