Shanghai Naut Steel Belt System Co., Ltd. intends to apply for the termination of its stock listing on the National Equities Exchange and Quotations (NEEQ) in order to reduce operating costs and improve decision-making efficiency. The company held the eighth meeting of the third board of directors on May 14, 2025, and the first extraordinary general meeting of shareholders on May 30, 2025, where the 'Proposal on Applying for the Termination of Stock Listing on the National SME Share Transfer System' was reviewed and approved. The company's shares have been suspended since May 29, 2025.