Fang Da Carbon announced that the company decided to stop participating in the substantive merger and restructuring of Shanshan Group and its wholly-owned subsidiary. Previously, the company had submitted registration materials, paid a due diligence deposit of 50 million yuan, and communicated many times with the manager of Shanshan Group. Due to the short and insufficient due diligence period, it was impossible to make a reasonable value judgment on the target assets, and based on careful evaluation and strategic planning, the company decided to discontinue participation. This decision will not adversely affect the company's production, operation and financial situation.

Fang Da Carbon announced that the company decided to stop participating in the substantive merger and restructuring of Shanshan Group and its wholly-owned subsidiary. Previously, the company had submitted registration materials, paid a due diligence deposit of 50 million yuan, and communicated many times with the manager of Shanshan Group. Due to the short and insufficient due diligence period, it was impossible to make a reasonable value judgment on the target assets, and based on careful evaluation and strategic planning, the company decided to discontinue participation. This decision will not adversely affect the company's production, operation and financial situation.