Huafeng Chemical: Termination of the issuance of shares and payment of cash to purchase assets

Hua Feng Chemical announcement, given that the proposal related to this transaction did not receive the approval of more than 2/3 of the total voting rights of the shareholders' meeting, after friendly negotiations, careful study, and thorough demonstration between the company and relevant parties of the transaction, based on prudence, it has been decided to terminate this restructuring matter. The transaction was intended to purchase 100.00% of the equity of Zhejiang Huafeng Synthetic Resin Co., Ltd. held by Huafeng Group, You Xiaoping, and others through the issuance of shares and payment of cash, as well as 100.00% of the equity of Zhejiang Huafeng Thermoplastic Polyurethane Co., Ltd. held by Huafeng Group.