Jiaozuo Wanfang Terminates Share Issuance for Asset Purchase, Withdraws Application Due to Market Changes

Published: Sep 20, 2026 21:51

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On September 14, Jiaozuo Wanfang announced that at its 15th meeting of the 10th Board of Directors, it reviewed and approved the proposal to terminate the share issuance for asset purchase and related-party transaction and to withdraw the application documents. Given that market conditions have changed significantly compared with the initial planning stage, the company and the major counterparties, after careful consideration, jointly decided to terminate the transaction. The transaction originally intended to purchase a 99.4375% stake in Cayman Aluminum (Sanmenxia) Co., Ltd. from 19 counterparties, constituting a major asset restructuring and a related-party transaction. The termination will not have any material adverse effect on the company's main business or financial position, and the company has committed not to plan any major asset restructuring for at least one month from the date of the announcement.

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