I. Reason for Suspension and Work Arrangement
Guangdong Haiyin Group Co., Ltd. (hereinafter referred to as "the Company") is planning to issue shares for asset acquisition. Due to uncertainties regarding the matter, in order to protect investors' interests and avoid significant impacts on the trading of the Company's stock, the Company has applied for a suspension of its stock (Securities Type: A-shares, Stock Abbreviation: Haiyin Shares, Stock Code: 000861) starting from the opening of the market on July 18, 2024. The Company expects to disclose the transaction plan within no more than 10 trading days, that is, by August 1, 2024, in accordance with the requirements and to resume trading. Upon verification, the Company believes that the target company meets the relevant regulations for issuing shares to acquire assets. If the Company fails to hold a board meeting to review and disclose the transaction plan within the above-mentioned period, its stock will resume trading at the latest on August 1, 2024, and the planning of related matters will be terminated. The Company will also disclose the main work, progress, impact on the Company, and subsequent arrangements regarding the planning matters during the suspension period, fully alerting relevant risks and uncertainties, and commits not to plan any major asset restructuring matters for at least one month from the date of disclosing the relevant announcement.