Shanghai Sinotec (603121.SH): Termination of the issuance of shares to specific entities through simplified procedures in 2024.

Shanghai Sinotec (603121.SH) announced that the company held the thirteenth meeting of the third board of directors and the tenth meeting of the third board of supervisors on September 25, 2024, and approved the proposal to terminate the issuance of shares to specific targets in 2024 through a simplified procedure. Since the company first announced the issuance of shares to specific targets through a simplified procedure, the company's board of directors, management, and intermediary institutions have been actively promoting various work. In August 2024, the securities service agency hired for this issuance and listing application was suspended from engaging in securities services for six months. Considering the capital market environment, industry development, company strategy, and business situation, after careful study, the company decided to apply to Shanghai Stock Exchange to withdraw the application documents for the issuance of shares to specific targets through a simplified procedure.