Xiangxin Technology (002965.SZ) terminates the acquisition of equity in Suzhou Ku'erxin Technology Co., Ltd.

Zhitong Finance APP News, Xiangxin Technology (002965.SZ) issued an announcement. The company had previously planned to acquire 51% equity of Suzhou Ku'erxin Technology Co., Ltd. through a combination of cash acquisition and capital increase. After the "Equity Acquisition Framework Agreement" was signed, the company actively promoted the work related to the equity acquisition and engaged intermediary institutions to carry out comprehensive financial auditing, legal due diligence, internal control assessment, and other related work on the target company; at the same time, both parties to the transaction conducted multiple rounds of negotiations on the transaction plan and core terms of this equity acquisition. However, because the two parties to the transaction failed to reach an agreement on the key terms related to the transaction, in order to safeguard the legitimate rights and interests of the company and all shareholders, after careful study, the company decided to terminate this equity acquisition matter.