Hybrid Kinetic Group Limited has provided an update regarding its previously announced plan to acquire a 51% equity interest in a target company through the issue of a convertible note. The company stated that the agreement for the acquisition has automatically terminated, as certain conditions precedent were not fulfilled before the specified deadline. No compensation or penalty will be incurred by either party as a result of the termination, and the company emphasized that this outcome will not have a material adverse impact on its financial position or day-to-day operations. Hybrid Kinetic Group Limited also highlighted ongoing business developments, including its entry into the in-vehicle audio-visual and short drama sector, which has already begun generating revenue.