Tianye Water Conservation (00840) terminated the joint venture with the Eighth Division State-owned Assets Administration Commission

According to Zhitong Finance App News, Tianye Water Saving (00840) issued an announcement. Due to failure to implement the joint venture's investment form (including but not limited to equity investment, rights investment, and other physical assets), the company and the Eighth Division State Assets Administration Commission agreed to sign an equity termination agreement on March 13, 2025 to terminate the investment agreement (including the directors' nomination agreement and voting rights entrustment agreement). Accordingly, the contracting parties will discharge and release each other from all obligations, duties, liabilities, claims and liabilities, if any, for any reason or nature arising out of or relating to the funding agreement. Nor has any contracting party paid or payable any termination fees or other compensation for the termination of the funding agreement.

The Company believes that the termination of the agreement will not have any significant adverse impact on the Group's current business, operation and financial situation, nor will it affect the overall interests of the Company and shareholders.