WM Motor (NYSE: WMW), a leading smart electric vehicle company, today announced that it has voluntarily terminated the process of listing on the Hong Kong Stock Exchange through a reverse takeover (RTO) of Apollo Travel.
The decision to terminate the RTO was made after careful consideration of the current market conditions and the company's strategic priorities. WM Motor believes that it is in the best interests of the company to focus on its core business of developing and selling electric vehicles.
"We are grateful for the support of Apollo Travel and its shareholders during the RTO process," said Shen Hui, founder and CEO of WM Motor. "We remain committed to our mission of providing high-quality smart electric vehicles to our customers."
WM Motor is still an important shareholder of Apollo Travel and will continue to support the development of the company. The company will also continue to explore other options for its public listing.
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