ELATE HOLDINGS (00076) announced that its wholly-owned subsidiary, Elate Graphite Limited (the Subsidiary), and Goldpay Limited (Goldpay) had entered into a cooperation agreement on October 10, 2025. Under the agreement, Goldpay was to issue a utility blockchain voucher primarily for the Subsidiary to facilitate a cooperative sales promotion plan for the company's products. However, Goldpay recently requested the termination of the blockchain voucher project collaboration. The termination was based on Goldpay's adjustment of its strategy regarding the selection of jurisdictions for partnered companies, leading to the request to cease all cooperation with the Subsidiary on the blockchain voucher and related projects.

On November 3, 2025, the Subsidiary and Goldpay signed a termination agreement in accordance with the above terms, mutually agreeing to end all collaboration on the blockchain voucher and related projects, effective immediately. According to Goldpay's notification, the blockchain voucher development project, for which Goldpay was responsible, remains incomplete as of now. No individual or company has made any payments for the purchase, holding, or any form of transaction involving the blockchain voucher or related projects. Both parties have agreed to waive any claims against each other, including but not limited to expenses incurred.