Zhitong Finance App News, Fang Da Carbon (600516.SH) issued an announcement. In accordance with the requirements of the announcement issued by the Shanshan Group manager, the company submitted registration materials, paid a due diligence deposit of 50 million yuan, signed a due diligence confidentiality agreement, carried out due diligence investigations, and communicated many times with Shanshan Group managers on key matters such as due diligence content, industrial collaboration, strategic planning, and target asset valuation. Due to the short due diligence time and insufficient due diligence, it is impossible to make a reasonable value judgment on the underlying assets. Based on a careful assessment of risk factors after integration, and in conjunction with Fangda Carbon's strategic plan in the field of new materials and new energy sources, in order to effectively protect the interests of listed companies and investors, after careful research by the company, it was decided to stop participating in the substantive merger and restructuring of Shanshan Group and its wholly-owned subsidiaries.

Zhitong Finance App News, Fang Da Carbon (600516.SH) issued an announcement. In accordance with the requirements of the announcement issued by the Shanshan Group manager, the company submitted registration materials, paid a due diligence deposit of 50 million yuan, signed a due diligence confidentiality agreement, carried out due diligence investigations, and communicated many times with Shanshan Group managers on key matters such as due diligence content, industrial collaboration, strategic planning, and target asset valuation. Due to the short due diligence time and insufficient due diligence, it is impossible to make a reasonable value judgment on the underlying assets. Based on a careful assessment of risk factors after integration, and in conjunction with Fangda Carbon's strategic plan in the field of new materials and new energy sources, in order to effectively protect the interests of listed companies and investors, after careful research by the company, it was decided to stop participating in the substantive merger and restructuring of Shanshan Group and its wholly-owned subsidiaries.