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On October 14, Dongbai Group issued a statement revealing that its wholly-owned subsidiary, Fujian Dongbai Chuangzhi Investment Co., Ltd., had initially intended to acquire a portion of the stake in Hangzhou Kuailing Optoelectronics Technology Co., Ltd. Nevertheless, owing to the inability of all involved parties to come to a consensus on crucial terms, the group decided to abort this equity acquisition plan. It's worth noting that no formal contract was signed for this deal. Consequently, the termination of this acquisition will not exert a substantial influence on the financial standing or business operations of Dongbai Group. Kuailing Optoelectronics mainly focuses on the research, development, manufacturing, and marketing of photodetector chips.
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