Kibing Group aborts asset purchase, investor meeting held

Zhuzhou Kibing Group (SSE:601636) announced the termination of its proposed issuance of shares to acquire assets in a related-party transaction. To address investor concerns regarding the decision, the company held an online investor briefing on June 3, 2025. Executives fielded questions on topics ranging from capacity utilization rates for float and photovoltaic glass, the company's profitability, strategic direction, and management of accounts receivable. Regarding future strategy, management emphasized a focus on improving governance, cultivating new growth areas, and developing new productivity, along with measures to reduce cost. Kibing Group confirmed that no violation of information disclosure regulations or insider trading activities occurred. The company reported first quarter 2025 revenue of CNY 3.484 billion and net profit attributable to shareholders of CNY 470 million.