Zhongtong Financial APP News, Zyy(08223) announced that after signing the underwriting agreement, the closing price on August 14, 2024 was 2.98 Hong Kong dollars (before adjustment), and the closing price on September 24, 2024 was 1.42 Hong Kong dollars, a decrease of more than 52%; and the recent significant changes in the market conditions due to the stimulus measures announced by the Chinese government, on September 30, 2024 (after trading hours), the company and the underwriter unanimously agreed to immediately terminate the underwriting agreement, which will take effect from the date of this announcement. Therefore, the underwriting agreement is terminated in full, losing any effect. After termination, the company and the underwriter will no longer be bound by the terms of the underwriting agreement or enjoy its benefits, unconditionally and irrevocably release each other from any and all current, past, and future obligations arising directly or indirectly from or in connection with the underwriting agreement (but without prejudice to the rights of either party in respect of any prior breach). Therefore, the rights issue will not proceed and will be invalid.

As of the date of this announcement, the company has not issued any new shares under the rights issue.