Yansheng Strategic Selected Issue 3 Private Securities Investment Fund, managed by Shenzhen Yansheng Asset Management Co., Ltd. signed an agreement to acquire a 5% stake in Shannon Semiconductor Technology Co., Ltd from Liu Xiang for approximately CNY 440 million on January 24, 2022.

Yansheng Strategic Selected Issue 3 Private Securities Investment Fund, managed by Shenzhen Yansheng Asset Management Co., Ltd. completed the acquisition of a 5% stake in Shannon Semiconductor Technology Co., Ltd from Liu Xiang on April 8, 2022. Liu Xiang will transfer 21,000,000 tradable shares at CNY 20.81 per share. In a related transaction, Pingrock Fz3 Hedge Private Securities Investment Fund managed by Shenzhen Pingrock Asset Management Co., Ltd. agreed to acquire a 5.9% stake in Shannon Semiconductor Technology Co., Ltd. (SZSE:300475) from Liu Jun for approximately CNY 520 million. n another related transaction, Changlehui Capital Exclusive No. 16 Private Securities Investment Fund managed by Zhuhai Hengqin Changlehui Capital Management Co., Ltd. agreed to acquire a 5.9% stake in Shannon Semiconductor Technology Co., Ltd. (SZSE:300475) from Liu Xiang and Liu Jun for approximately CNY 520 million.