Hao Bai International (Cayman) Limited (Stock Code: 8431) announced on 16 February 2026 that no progress or developments have been made under the previously disclosed proposed joint venture agreement. Consequently, the strategic cooperation and business development efforts related to the proposal will no longer be pursued.

According to the announcement dated 27 August 2025, the Board confirmed that not proceeding with the proposed joint venture will not have a material adverse impact on the existing business, operation, or financial position of the Group. The Board also indicated that the decision should not affect current operations or the Group’s financial health.