On May 5, 2021, Shanghai Hongda New Material Co., Ltd. (SZSE:002211) cancelled the the transaction. The company has signed share subscription agreement termination agreement with investors. The 3rd session of the company’s 6th directorate and the 3rd session of the company's 6th supervisory board approved the proposal on no longer extending the validity of the private placement plan and the termination of the private placement plan.