On July 3, Jinbei Automobile disclosed that the public listing and transfer project concerning 95% of the equity stake in its subsidiary, Tieling Brilliance Rubber & Plastic Products Co., Ltd., had been called off. The termination stemmed from disagreements between the involved parties regarding the assumption, accounting treatment, and attribution of changes in the target company’s net assets from the audit benchmark date to the end of the bidding announcement period. Following unsuccessful negotiations, both parties entered into an "Equity Transaction Termination Agreement," and the prospective transferee has since been refunded. Jinbei Automobile clarified that this cancellation would not materially affect the company’s core business operations, cash flow, or overall profitability. Moving forward, the company will cautiously determine an equity divestiture strategy based on prevailing market conditions.