Hebei Sinopack Electronic Technology Co.,Ltd. signed an agreement to acquire Assets and Liabilities of GaN Communication Base Station RF Chip Business from The 13th Institute of China Electronics Technology Group Corporation for approximately CNY 1,510.89 millions

Hebei Sinopack Electronic Technology Co.,Ltd. (SZSE:003031) signed an agreement to acquire Assets and Liabilities of GaN Communication Base Station RF Chip Business from The 13th Institute of China Electronics Technology Group Corporation for approximately CNY 1,510.89 millions on January 27, 2022. For consideration 32,802,700 new shares of Hebei Sinopack Electronic Technology will be issued at CNY 46.06 per share. The transaction is subject to approval from the Shenzhen Stock Exchange and the CSRC. The approvals of the Hebei Sinopack Electronic Technology's directorate and shareholders, State-owned Assets Supervision and Administration Commission and Ministry of Finance. The transactions are still subject to Shenzhen Stock Exchange and CSRC's approval.

CITIC Securities Company Limited (SHSE:600030) and AVIC Securities Co.,Ltd. acted as financial advisor to Hebei Sinopack Electronic Technology. Jiayuan Law acted as legal advisor and Moore Stephens Da Hua acted as Accountant to Hebei Sinopack Electronic Technology.