Zhongbei Communications: Termination of holding subsidiary Beixin Communications International's equity acquisition.

date
30/07/2025
Zhongbei Communication Announcement: The company convened the ninth meeting of the fourth board of directors on July 28, 2025, and approved the resolution on the termination of the equity acquisition of the subsidiary Beixin International. The company's subsidiary Beixin International planned to acquire 55% equity of PT.Semesta Energi Services with its own funds of $25 million, but due to the failure to meet the core delivery conditions stipulated in the "Investment Agreement," it was decided through negotiations to terminate the acquisition. This termination will not have any adverse impact on the company's current operating performance and financial condition.