According to the Zhitong Finance App, Yaogao Holdings (01796) issued an announcement. Since the prerequisites contained in the placement agreement were not reached before May 28, 2024 (the expiration date of the placement agreement), the placement agreement has expired and the placement matters will not continue. All rights, obligations and liabilities of a party to a placement agreement will cease and no contracting party shall file any claim against the other party other than any prior breach of the placement agreement and/or any rights or obligations that may have arisen under the placement agreement prior to such termination.

The announcement stated that the expiration of the placement agreement will not have any significant adverse impact on the Group's current operations and financial situation.