Qifan Cable announced that the land use plan for the project could not be resolved after many negotiations and communication. After comprehensively considering factors such as the current project location situation, industry policy, market environment, and the company's own situation, the company believes that the current implementation conditions of the project have changed greatly. As a result, the project cannot continue to be implemented according to the requirements of the original plan. The company made careful decisions to terminate foreign investment and construction of the Fangchenggang submarine cable production base project.