Hengyu Communication: Terminate the purchase of 100% equity of Shendao Technology

Hengyu Communication announced on May 29th that the company plans to purchase 100% equity of Beijing Shendao Technology Co., Ltd. (referred to as "Shendao Technology") held by 9 counterparties including Zhang Junqing through issuing shares and paying cash, and intends to raise matching funds by issuing shares to no more than 35 specific investors. Considering that the parties to the transaction were unable to reach a consensus on some of the main terms of the transaction plan, after consultation, the company has decided to terminate this transaction.