Dongwu Cement Announces Termination of Proposed Share Sales by Controlling Shareholder

Stock News
04/30

Dongwu Cement (00695) has issued an announcement stating that its board of directors was informed by Goldview that, following friendly consultations, the agreements concerning the proposed Transaction I with Ganghang Hong Kong and the proposed Transaction II with Fenyuan Capital have lapsed. As a result, neither transaction will proceed. All obligations under the agreements for the proposed Transaction I and Transaction II are now void. Mr. Jiang Xueming expressed his full confidence in the company's future. The company's core strategy focuses on transformation and development, emphasizing the capture of opportunities arising from technological revolution and industrial upgrading. Dongwu Cement is paying close attention to cutting-edge fields such as artificial intelligence and new energy, actively exploring and researching potential commercial opportunities in these areas, and is committed to pioneering a new phase of development characterized by higher quality, growth, and value.

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