Fanli Digital Technology Co.Ltd(600228) announced that the company received the reply issued by the China Securities Regulatory Commission on February 24, 2021. The company was approved to carry out major asset replacement and issue shares to Shanghai Xiangrui enterprise management consulting firm (limited partnership) to purchase assets and raise supporting funds. The approval date was February 22, 2021, and the reply document was valid within 12 months from the date of issuance. Before the expiration of the approval document, the company did not receive the notice and relevant materials from the subscribers of supporting raised funds. Considering the interests of the company and shareholders, combined with the actual capital structure and long-term development needs of the company, the company did not issue shares to raise supporting funds within the validity period of the approval document. According to the relevant requirements of the CSRC, the approval document will automatically become invalid upon expiration.
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