Zhiyang Innovation: Termination of Major Asset Restructuring Planning, Stock Resumes Trading

Gelonghui, February 25 — Zhiyang Innovation (688191.SH) announced that the company originally planned to acquire Lingming Photonics’ controlling stake through issuing stocks, targeted convertible bonds, and cash payments, as well as raising supporting funds. However, due to changes in the market environment, the two parties failed to reach an agreement on key terms, and the company has decided to terminate the planning of this major asset restructuring. The transaction is still in the planning stage, no formal agreement has been signed, no review has been submitted, and no implementation has taken place, so neither party is liable for breach of contract. The company’s stock will resume trading on February 26, and it commits not to plan any major asset restructuring within the next month.