XUNZHONG (02597): Termination of application for public issuance of shares and filing for guidance on listing on the North Exchange.

XUNZHONG (02597) announced that on July 20, 2023, the company signed a "Guidance Agreement on the Public Offering of Shares by Beijing XUNZHONG Technology Co., Ltd. to Qualified Investors and Listing on the Beijing Stock Exchange" with Industrial Co., Ltd. and submitted the application materials for the public offering of shares to qualified investors and listing on the Beijing Stock Exchange to the Beijing Regulatory Bureau of the China Securities Regulatory Commission. The Beijing Regulatory Bureau accepted the company's submission of the guidance application and the proposed listing application, with Industrial Co., Ltd. as the guidance institution. Recently, based on the company's current business operations and future strategic development considerations, the company carefully studied and made a prudent decision. After friendly negotiations with the listing guidance institution, the company signed a "Termination Agreement on the Guidance Agreement on the Public Offering of Shares by Beijing XUNZHONG Technology Co., Ltd. to Qualified Investors and Listing on the Beijing Stock Exchange." The Beijing Regulatory Bureau has confirmed the company's termination of the guidance application and the proposed listing. The company will comprehensively consider its own development needs and market conditions in planning relevant capital market arrangements in the future. The Board of Directors believes that the above matters will not have any significant adverse impact on the company's business, operations, or financial condition, nor will they affect the overall interests of the company and its shareholders.