Asia Cuanon Technology (603378.SH): Approval for private placement of stocks has expired and became invalid.

GMTEightPP News, Asia Cuanon Technology (603378.SH) announced that the company received a reply from the China Securities Regulatory Commission on September 18, 2023, approving the registration of the issuance of stocks to specific entities by Asia Cuanon Technology (Shanghai) Co., Ltd. The approval allows the company to issue stocks to specific entities, and the validity period of this approval is 12 months from the date of approval (September 15, 2023). The company failed to implement the issuance of stocks to specific entities within the valid period of the approval, causing the approval to automatically expire.