Jinli Permanent Magnet announced that Jinli Hong Kong Technology, a wholly-owned subsidiary of the company, previously planned to subscribe for an additional 19.647 million shares of common shares issued by Australian listed rare earth company Hastings at $0.36 per share, with a total subscription amount of about 7.07 million Australian dollars. Since the prerequisites for this subscription have not been met, the share subscription has been terminated after careful consideration by the company. As of the announcement date, the company has not paid any payments to the counterparty, and the subscription terms have not yet officially taken effect.

Jinli Permanent Magnet announced that Jinli Hong Kong Technology, a wholly-owned subsidiary of the company, previously planned to subscribe for an additional 19.647 million shares of common shares issued by Australian listed rare earth company Hastings at $0.36 per share, with a total subscription amount of about 7.07 million Australian dollars. Since the prerequisites for this subscription have not been met, the share subscription has been terminated after careful consideration by the company. As of the announcement date, the company has not paid any payments to the counterparty, and the subscription terms have not yet officially taken effect.