Bangyan Technology (688132.SH) terminates the acquisition of 100% equity of Xingwang Xintong.

Bangyan Technology (688132.SH) announcement, the company previously planned to purchase 100% of the shares of Shenzhen Xingwang Xintong Technology Co., Ltd. from 16 trading parties including Zhang Haixin, Shenzhen Golden China Technology Co., Ltd., Shenzhen Xincheng Hengfu Enterprise Management Co., Ltd., and Shenzhen Xinyu Investment Enterprise (Limited Partnership) through the issuance of shares and payment of cash, while also raising funds in connection with the transaction. On May 25th, the Board of Directors of the company approved the "Proposal on Terminating the Issuance of Shares and Payment of Cash for the Purchase of Assets and Fundraising and Related Party Transactions" and agreed to terminate the issuance of shares and payment of cash for the purchase of assets and fundraising, and authorized the company management to handle the termination of these matters.