On March 25, 2024, Hai Tian Stock (603759.SH) held the eleventh meeting of the fourth board of directors, and approved the proposal on the acquisition of 100% equity of Anfa International Co., Ltd. The company intends to acquire Anfa International Co., Ltd.'s 100% equity held by Yicheng Investment Co., Ltd. with its own funds of RMB 270 million, so as to achieve the purpose of controlling Yichun Water Affairs Group Co., Ltd.
According to Article 3.3 of the Equity Purchase Agreement, if the prerequisite specified in Article 3.1 of the agreement cannot be fully fulfilled or waived by our company within 120 days after the signing of the agreement, the acquisition shall be cancelled and the parties shall have the right to unilaterally terminate this agreement. As the prerequisite specified in Article 3.1 of the Equity Purchase Agreement cannot be fully fulfilled within the specified time, the original agreement temporarily does not meet the performance conditions. To safeguard the interests of the company and investors, after careful deliberation by the board of directors, the company decided to terminate the acquisition. The company will sign relevant documents to cancel the acquisition with China Water Industry and other parties, and at the same time urge Shenzhen Haisheng Environmental Protection Technology Co., Ltd. to fully refund the RMB 54 million paid by the company within ten days after the agreement is terminated.