HAO BAI INTL (08431) announced that, regarding the proposed joint venture agreement with Bentley Huajun (Hainan) Food Co., Ltd., no progress, development, or execution has been achieved under this strategic cooperation. Under these circumstances, the company will no longer proceed with this business development.
The Board believes that discontinuing the proposed joint venture agreement will not have any significant adverse impact on the Group's existing business, operations, or financial condition.