Termination of the issue and underwriting agreement for REMT(00601)

REMT (00601) Announcement: On December 21, 2024, the company received a termination notice from the underwriter. According to the notice, the underwriter has issued a written notice to the company to immediately terminate the underwriting agreement (termination event). The reason for this termination is due to a significant decline in the trading price of the company's shares from the last trading day (November 19, 2024) to December 19, 2024. During this period, the closing price of the company's shares on the HKEX dropped from HK$0.196 per share on November 19, 2024 to HK$0.097 per share on December 19, 2024, a decline of approximately 50.5%. The underwriter believes (which the company also agrees with) that due to the significant drop in the share price, the success of the share offering will be significantly and adversely affected. Therefore, the underwriting agreement has been fully terminated and is no longer effective. Upon the effectiveness of the termination event, all obligations of the parties to the underwriting agreement will be terminated, and neither party may make any claims against the other party in relation to the underwriting agreement, except for any rights enjoyed by either party due to prior breaches of the agreement. Therefore, the share offering will no longer proceed and has been aborted. As of the date of this announcement, the company has not dispatched the memorandum and has not issued any share offerings due to the termination. The Board of Directors believes that the termination event will not have any immediate significant adverse impact on the group's business operations or financial condition. The company will continue to seek other financing methods at the appropriate time and formulate or revise the business plan originally intended to be funded through the share offering.