Dawei Shares recently announced that Shenzhen Xinhuiqun Microelectronics Technology Co., LTD., the company's holding subsidiary, intends to invest in the establishment of Xinhuiqun Technology Hong Kong Co., LTD. (tentative name, subject to the final approval of the relevant authorities; Hereinafter referred to as "HongKong Core Group"), HongKong Core Group's registered capital is100Ten thousand US dollars, funded by Xinhui Group with its own funds100Ten thousand US dollars, accounting for the total share capital of HongKong Core Group100%.

Basic information of the proposed company:

Company Name: Xinhuiqun Technology Hong Kong Co., LTD. (tentative name, subject to the approval of the relevant authorities)

English name (if required) :SXmicro Technology HK Limited(Names in both English and Chinese are subject to Hong Kong Registry's approval)

Proposed business scope: engaged in electronic products and technology research and development, sales, trade, import and export business.

Ringser's view:Xinhui Group, a subsidiary of the company, has long been in demand for overseas procurement and sales, while Hong Kong, as an international financial center and trade center, has significant advantages in geographical location, resources, talents, policies and other aspects. From the business development status of Sinogroup, it is the normal business mode of Sinogroup to import and export through Hong Kong. The establishment of Hong Kong Core Group is conducive to strengthening the exchange and cooperation between Core Group and the international market, and provides an effective channel for the development of overseas business of Core Group.

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