Paradigm Intelligence (06682): Terminate subscription for Huaxi Media's new shares

Zhitong Finance App News, Paradigm Intelligence (06682) issued an announcement. The completion of the subscription is subject to a series of prerequisites. As of the date of this announcement, the subscription agreement has been terminated in accordance with its terms and since certain prerequisites for the subscription were not met or waived, and the contracting party was unable to agree on a further extension of the final deadline, the subscription agreement has been terminated in accordance with its terms, and the subscription will not proceed. After the termination of the subscription agreement, the contracting parties no longer assume their respective obligations under the subscription agreement.

At the same time as entering into a subscription agreement, the Company and Huanxi Media also signed a strategic cooperation and joint venture framework agreement and a large model API service framework agreement (collectively referred to as such agreements). As of the date of this announcement, proposed cooperation and transactions under these agreements are still being discussed, and Huanxi Media has yet to pay the Group for such agreements. The Company anticipates that the termination of such agreements and transactions under them will not adversely affect the Group's current business and financial situation.