Shenzhen Hui Chuang Da Technology Co.,Ltd (SZSE:300909) agreed to acquire Dongguan Letcon Electronics Co., Ltd. from Duan Zhigang, Duan Zhijun, Dongguan Xinwei Tongda Venture Capital Partnership Enterprise (Limited Partnership), Shenzhen FRD Science & Technology Co., Ltd. (SZSE:300602) and Suzhou Huaye Zhiyuan No. 1 Venture Capital Partnership Enterprise (Limited Partnership) managed by Shenzhen Hengxin Huaye Equity Investment Fund Management Co., Ltd. for approximately CNY 500 million on December 9, 2021. The consideration will be paid in combination of CNY 57.44 million cash and CNY 342.56 million to be paid in form 9877738 shares of Shenzhen Hui Chuang Da Technology Co. Prior to completion, Dongguan Letcon Electronics Co. is owned 54% by Duan Zhigang, 18% by Duan Zhijun, 8% by Dongguan Xinwei Tongda, 15% by Shenzhen FRD and 5% by Suzhou Huaye Zhiyuan. Upon completion, Shenzhen Hui Chuang Da Technology Co. will own 100% stake, making it a subsidiary. The transaction will be funded from raising supporting funds of CNY 150 million. As on January 2, 2023, Shenzhen Hui Chuang received the approval of China Securities Regulatory Commission. The transaction is subject to the approval of Shenzhen Hui Chuang Da Technology?s shareholders? meeting, Shenzhen Stock Exchange and China Securities Regulatory Commission (CSRC). The transaction was approved by the 22nd session of the 2nd directorate of Shenzhen Hui Chuang Da Technology Co. As on July 8, 2022, The transaction has been approved by the shareholders of Shenzhen Hui Chuang. On December 21, 2021, Dongguan Letcon?s shareholders? meeting approved this transaction. Soochow Securities Co., Ltd. acted as financial advisor, Moore Stephens Da Hua as an accountant and Beijing Kang Da Law Firm to Shenzhen Hui Chuang Da Technology Co., Ltd.

Shenzhen Hui Chuang Da Technology Co.,Ltd (SZSE:300909) completed the acquisition of Dongguan Letcon Electronics Co., Ltd. from Duan Zhigang, Duan Zhijun, Dongguan Xinwei Tongda Venture Capital Partnership Enterprise (Limited Partnership), Shenzhen FRD Science & Technology Co., Ltd. (SZSE:300602) and Suzhou Huaye Zhiyuan No. 1 Venture Capital Partnership Enterprise (Limited Partnership) managed by Shenzhen Hengxin Huaye Equity Investment Fund Management Co., Ltd. on February 27, 2023. The issuance of 15,031,151 additional shares as part of consideration has completed the registration procedures and will be listed on the Shenzhen Stock Exchange on April 11, 2023.