Kairuide (002072.SZ) announced on October 29th that the company held the fifty-eighth meeting of the seventh board of directors on October 29, 2024, and approved the "Proposal on Terminating the Planning of Major Asset Restructuring and Related Transactions", agreeing to terminate the planning of major asset restructuring and related transactions.

Previously disclosed, the company planned to purchase not less than 29.0134% of the shares of Peking State Grid Electrical Technology Co., Ltd. (referred to as "State Grid Technology") held by shareholders Hainan Qing Asia Energy Technology Center (Limited Partnership), Mr. Zhou Ziguan, and Peking Qingying Wisdom Technology Center (Limited Partnership) through cash payment, becoming the largest shareholder of State Grid Technology (referred to as "this transaction").

Since the start of this restructuring, the company and all relevant parties have actively promoted the various work of this transaction. The two parties involved in the transaction conducted careful research and discussions on the current market environment and core transaction terms, and unanimously decided to terminate the planning of this major asset restructuring.