On September 25, Kelon.com reported that Guanglian Engineering Holdings (01413.HK) announced that on September 25, 2024, Xiamen Guanglian Chuangmeng Culture Co., Ltd. (formerly known as Xiamen Guanglian Dongbao Culture Co., Ltd., a wholly-owned subsidiary of the company) entered into a termination agreement with the target company. In this regard, both parties to the agreement agreed to terminate the memorandum of understanding, as they have not reached any consensus on the potential subscription matters since the date of the memorandum of understanding, effective immediately.

According to the termination agreement, the memorandum of understanding is no longer valid or effective from the date of the termination agreement, and the parties to the agreement are not required to assume any responsibility for any matters arising from the memorandum of understanding. The memorandum of understanding is not legally binding. The board of directors believes that the termination of the memorandum of understanding has no impact on the group's existing business operations and financial condition.