AOLIAN Electronics: Controlling shareholder Ruiying Assets and Chaocheng Innovation terminate control transfer

AOLIAN Electronics Announcement: The “Share Transfer Agreement” signed between the company’s controlling shareholder Ruiying Assets and Chaocheng Innovation has been terminated due to Chaocheng Innovation’s failure to pay the first installment of the share transfer consideration. According to the agreement, Chaocheng Innovation intended to acquire 32.6667 million shares held by Ruiying Assets, accounting for 19.09% of the total share capital, with a consideration of 630 million yuan. Due to Chaocheng Innovation’s breach of contract, Ruiying Assets has terminated the agreement, and the company’s controlling shareholder and actual controller have reverted to Ruiying Assets and Mr. Qian Mingfei. This termination will not affect the company’s governance structure or production and operation.