Galaxy Magnet: Termination of the acquisition of 100% equity of Kyoto Ryutai.

Galaxy Magnet announced on March 12th that the company originally intended to purchase 100% equity of Sichuan Kyoto Longtai Technology Co., Ltd. through the issuance of shares and payment of cash. Since the disclosure of the transaction plan, the company and related parties have been orderly advancing and implementing various work related to the transaction. However, due to the failure of the company and the counterparty of the transaction to reach an agreement on some core terms of the transaction price and other issues, the company has decided to terminate the transaction after careful study.