Hangzhou Star Shuaier Electric Appliance Co Ltd

Yihao New Materials plans to issue A-shares to specific investors to raise total proceeds of no more than 1.8 billion yuan. After deducting issuance expenses, all proceeds will be used to increase capital and acquire no less than 78 percent equity in Mingfeng Electronics. This capital increase and acquisition is expected to meet the standards for a major asset restructuring. The target company, Mingfeng Electronics, is mainly engaged in the research, development, production and sales of high-performance copper foil, with a designed annual production capacity of 70,000 tonnes. On the same day, Xingshuaier announced that it is planning to purchase assets by issuing shares and paying cash, and to raise supporting funds. This transaction is expected not to constitute a major asset restructuring, nor a related-party transaction, and will not result in a change of the company's actual controller or constitute a backdoor listing. The company has applied for a trading halt starting from the market open on September 22.