Sanyou Corporation Limited(300932) : Announcement on the acquisition of state-owned land use right by holding subsidiaries through bidding

Securities code: 300932 securities abbreviation: Sanyou Corporation Limited(300932) Announcement No.: 2022-013 Sanyou Corporation Limited(300932)

Announcement on the acquisition of state-owned land use right by holding subsidiaries through bidding

The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete without false records, misleading statements or major omissions.

1、 Transaction overview

The holding subsidiary of Sanyou Corporation Limited(300932) (hereinafter referred to as “the company”) Qingxian se Mingxi Electronic Devices Co., Ltd. (hereinafter referred to as “Se Mingxi”) recently participated in the bidding for the use right of state-owned construction land (parcel No. [2022] 07) of Qingxian natural resources and Planning Bureau located in the east of central street in the South District of Qingxian economic development zone and the north of Beihuan East Road in accordance with legal procedures, The parcel of land covers an area of 101659 square meters, and finally won the land use right with RMB 21.35 million.

On July 16, 2021, the company held the 8th meeting of the 2nd board of directors and the 8th meeting of the 2nd board of supervisors, deliberated and passed the proposal on the holding subsidiary’s intention to sign an investment agreement with the Management Committee of Qingxian Economic Development Zone, and agreed to choose mingmingxi to sign an investment agreement with the Management Committee of Qingxian Economic Development Zone, which will be located in the north of Beihuan East Road, South District of Qingxian economic development zone To the east of central street, invest in the production of electronic components such as transformers and relays, with a total investment of 375 million yuan. The project land involved in the exchange will be obtained through bidding, auction or listing in accordance with the land use procedures specified in the current national laws and regulations. See details disclosed by the company on cninfo.com( http://www.cn.info.com.cn. )Announcement on the signing of investment agreement between the holding subsidiary and the Management Committee of Qingxian Economic Development Zone (Announcement No.: 2021-052).

This auction does not constitute a connected transaction, nor does it constitute a major asset reorganization stipulated in the administrative measures for major asset reorganization of listed companies.

2、 Basic information of this transaction

1. Counterparty:

Transferor: Qingxian natural resources and Planning Bureau

Winner: Qingxian xuanmingxi electronic device Co., Ltd

2. Parcel No. [2022] 07

3. Location of the parcel: East of central street and north of Beihuan East Road, South District, Qingxian economic development zone;

4. Transfer area: 101659 square meters;

5. Land use: industrial land;

6. Transfer period: 50 years;

7. Transaction price: 21.35 million yuan.

3、 Purpose of this transaction and its impact on the company

The bidding for the use right of state-owned construction land is to meet the needs of business development for business land, gradually form a coordinated development situation of upstream and downstream industrial chains of mutual inductors and relays, further improve the company’s R & D capacity and product quality, optimize and upgrade the product structure and enhance the company’s core competitiveness. The capital source of this auction is the company’s own funds, which will not have an adverse impact on the company’s financial status and operating performance, nor will it damage the interests of the company and shareholders.

4、 Risk tips

In the follow-up, he still needs to sign the land use right transfer contract and other documents with relevant departments, and carry out the project construction according to the indicators agreed in the contract. The project implementation process may be affected by force majeure factors such as the approval procedures of relevant departments and the adjustment of relevant national or local policies. There is a certain uncertainty in the project implementation progress. Please pay attention to the investment risk.

5、 Documents for future reference

1. Confirmation of auction completion.

It is hereby announced.

Sanyou Corporation Limited(300932) board of directors February 23, 2022

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