AGTech Holdings Limited has announced the termination of its Joint Venture (JV) Agreement, following a decision to voluntarily wind up the JV Company and its sole subsidiary, Technologies (Beijing) Co., Ltd. The Board of Directors stated that the JV Company currently has no operations, and the termination of the agreement is not expected to have any material adverse impact on the existing businesses of the Group. Both parties have agreed to release each other from all contractual and legal obligations related to the JV Agreement. This decision is considered to be in the best interest of the company and its shareholders.
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