On 8 November, Hushi Electronics (or the "Company") announced that at the twelfth meeting of the seventh session of the Board of Directors of the Company, it had considered and approved the "Proposal to increase capital to its subsidiary in Thailand." Ltd. is a wholly-owned subsidiary of the Company. In order to meet its construction and working capital needs, the Company agreed to use its own funds to increase its capital by Baht 1,625,970,000 (approximately RMB 315 million).

It is reported that due to business development and the need to increase the layout of overseas production bases, the Company, on 7 June 2022, resolved to invest in a new production base in Thailand with an investment amount of approximately US$280 million, including but not limited to the purchase of land, purchase and construction of fixed assets and other related matters. The Company will implement the construction of the production base in Thailand in phases based on specific circumstances such as market demand and business progress. Subsequently, the Company completed the registration related to the establishment of its Thailand subsidiary on 4 October 2022.

(1). Mode of capital contribution: Capital increase using own funds
(2). Name of the subject company: Hushi Electronics (Thailand) Co.
(3). Date of establishment: 4 October 2022
(4). Registered capital: Baht 5,000,000 (to be increased to Baht 1,630,970,000 upon completion of the capital increase)
(5). Registered office:No.1Moo5,Khanham Sub-district,Uthai District,Phra Nakhon Si Ayutthaya Province
(6). Scope of business: Manufacture, import, export, wholesale, retail and transport of single, double-sided and multilayer circuit boards, high-density interconnected laminates (HDI), circuit board assembly products, connecting cables and connectors for electronic equipment, as well as all raw materials for production and related products and accessories, including after-sales and technical services
(7). The shareholding structure of Hushi Thailand before and after this capital increase is as follows.

In addition, HUDEN's wholly-owned subsidiary "Hushi International Limited" intends to set up a wholly-owned subsidiary in Singapore with its own capital of US$1 million (approximately RMB 7,242,000). The scope of business includes the trade sales, business consultation, after-sales service and investment in single, double-sided and multi-layer circuit boards, circuit board assembly products, connection cables and connectors used in electronic equipment (subject to final registration).
It is reported that the company's revenue for the third quarter of this year was RMB 2.028 billion, an increase of 8.48% year-on-year; the cumulative revenue for the first three quarters was RMB 5.764 billion, an increase of 6.50% year-on-year.