Hanbang High-Tech announced on the evening of September 30 that it has decided to terminate the proposed transaction to acquire a 51% stake in Anhui Yilu Weixing Technology Co., Ltd. through share issuance, and to issue shares to raise supporting funds from Beijing Zhiyun Erling Technology Co., Ltd., which is wholly controlled by the actual controller Li Ning. The transaction was expected to constitute a major asset restructuring and a related-party transaction. The company stated that, given the lengthy period of transaction advancement and significant changes in the market environment compared with the initial planning stage, the termination decision was made after prudent study and consultation with the counterparty. On September 30, 2026, the company's board of directors approved the relevant proposals to terminate the transaction. As the transaction was still at the preliminary plan stage, the termination does not require submission to the shareholders' meeting for approval. The company pledged not to plan any major asset restructuring matters for at least one month from the date of the announcement of the termination. Public information shows that Yilu Weixing was established in 2017 and is a high-tech enterprise deeply engaged in the ETC field, possessing core technologies including blockchain, cloud computing, big data, artificial intelligence, AI modeling, encryption algorithms, and electronic invoices, as well as multiple independent intellectual property rights.
Beijing Hanbang Technology CorpHanbang High-Tech terminated its planned major asset restructuring to acquire a 51% stake in Yilu Weixing, scrapping the deal and pledging no new restructuring for at least a month.
