ST Hailong (000677.SZ) subsidiary terminated the acquisition of no less than 40% of Qunjian Aviation's shares

According to Zhitong Finance App, ST Hailong (000677.SZ) announced that Beijing Dover Hailong Flight Control Technology Co., Ltd., a wholly-owned subsidiary of the company, previously signed an “Share Acquisition Intent Agreement” to acquire no less than 40% of the shares of Xi'an Qunjian Aviation Precision Manufacturing Co., Ltd. (“Qunjian Airlines”) in cash. As the parties failed to reach a final agreement on the transaction, in order to protect the parties' legitimate rights and interests, after friendly negotiations, the parties studied and decided to terminate the intended transaction, agreed to terminate all arrangements under the original agreement, and confirmed that they would not pursue each other's liability for breach of contract. Termination of the above agreement will not have a significant impact on the company's financial position and operating conditions.