Jiangsu Smartwin Electronics Technology Co.,Ltd. (SZSE:301106) agreed to acquire 75% stake in Jiangsu Xintongda Electronic Technology Co., Ltd. from Danyang Jingyi Zhicheng Technology Partnership (Limited Partnership), Xu Suozhang, Yao Weifang and Xu Yimeng for approximately CNY 270 million on October 24, 2023. In this transaction, the share and cash payment ratio of each counterparty is 70% shares and 30% cash. Jiangsu Smartwin shall issue 4.5 million shares and pay CNY 74.3 million in cash.

The cash portion shall be financed by private placement of CNY 85 million. The base date for pricing of assets purchased through this issuance of shares is the announcement date of the resolution of the 17th meeting of the third session of the board of directors of the listed company. This transaction has been reviewed and approved by Jiangsu Xintongda Electronic Technology Co., Ltd shareholders?

meeting. The transaction is subject to approval by shareholders of Jiangsu Smartwin Electronics and Shenzhen Stock Exchange. The agreement for the acquisition was signed on March 1, 2024.

Huatai United Securities Co., Ltd. acted as financial advisor, Jin Mao Law Firm acted as legal advisor and Jonten Certified Public Accountants Co Ltd acted as accountant for Jiangsu Smartwin Electronics.