China Economic Net, Beijing, January 7 Haier Biotechnology (688139.SH) and Shanghai RAAS (002252.SZ) both resumed trading today, and the stock prices both fell, Haier Bio's share price closed at 31.40 yuan, down 10.80%, with a total market value of 9.984 billion yuan, and Shanghai RAAS once fell to 6.50 yuan and closed at 6.87 yuan, down 4.85%, with a total market value of 45.603 billion yuan.

Due to the planning of Haier Biotech to absorb and merge Shanghai RAAS by issuing A shares to all shareholders of Shanghai RAAS and issuing A shares to raise matching funds (hereinafter referred to as the "transaction" or "the material asset restructuring"), the trading of Haier Biotech and Shanghai RAAS shares will be suspended from the market open on December 23, 2024 (Monday). After careful study, the two companies decided to terminate the planning of this major asset restructuring, and the shares will resume trading from the opening of the market on January 7, 2025 (Tuesday).

According to the announcement of Haier Biotech, the company and Shanghai RAAS signed the "Agreement of Intent to Absorb and Merge" on December 20, 2024, and it is planned that Haier Biotech will absorb and merge Shanghai RAAS by issuing A shares to all shareholders of Shanghai RAAS and issue A shares to raise matching funds.

Since the planning of this major asset restructuring, the company and relevant parties have actively promoted the work related to the major asset restructuring in strict accordance with the requirements of relevant laws and regulations, and have actively negotiated, repeatedly discussed and communicated with the counterparty of the major asset restructuring and the major shareholders of the two parties to absorb the merger. Due to the complexity of the structure of this transaction, it has not yet been possible to form a specific plan approved by all relevant parties. After careful study of the opinions of all parties involved and the consensus of both parties to the transaction, in order to effectively safeguard the interests of the listed company and the majority of investors, the two parties to the transaction decided to terminate the planning of this major asset restructuring. At the same time, the Agreement of Intent to Merge by Absorption is automatically terminated, and neither party to the transaction shall be liable for breach of contract.

The transaction is still in the planning stage, the parties involved in the transaction have not finally signed a formal substantive agreement on the specific plan, the relevant proposals have not been submitted to the board of directors and the general meeting of shareholders of the company for deliberation, the restructuring matters have not been formally implemented, and the parties to the transaction do not need to bear any liability for breach of contract for the termination of the material asset restructuring. The termination of the planning of major asset restructuring will not adversely affect the company's business development, production and operation activities and financial condition, nor will it harm the interests of the company and shareholders, especially small and medium-sized shareholders.