Chengdu Qinchuan Iot Technology Co., Ltd. announced that the company originally planned to acquire 60% of Chengdu Paiwote Technology Co., Ltd. in Cash, but after multiple verifications and negotiations by the parties involved in the transaction, no consensus has been reached on the formal content of the Equity Transfer agreement, thus a "Termination Agreement of the Equity Acquisition Intent Agreement" has been signed, and the major asset restructuring matters have been terminated.