Securities code: 600237 Securities abbreviation: Tongfeng Electronic Number: Lin 2020-037

Announcement of Anhui Tongfeng Electronic Co., Ltd. on indirect controlling shareholders ruled by the court to accept the application for bankruptcy reorganization

The Company and all members of the Board of Directors warrant that the information disclosed is true, accurate and complete, and that there is no false record, misleading statement or material omission.

Anhui Tongfeng Electronics Co., LTD. (hereinafter referred to as "the Company") recently learned that the People's Court of Yongkang City, Zhejiang Province has ruled to accept the bankruptcy reorganization application of Tienu Group Co., LTD. (hereinafter referred to as "Tienu Group"), the indirect controlling shareholder of the Company, and hereby announces the relevant information as follows:

I. Bankruptcy reorganization of indirect controlling shareholders

According to Zhejiang Yongkang People's Court [2020] Zhejiang 0784 break No. 11 announcement, Zhejiang Yongkang People's Court has ruled to accept the applicant Tienu Group's reorganization application, and appointed Zhejiang Jingheng Law firm as Tienu Group's manager.

Ii. The impact of this event on the Company

1. At present, the bankruptcy reorganization of Tienniu Group by relevant parties is only a preliminary arrangement, and the success of bankruptcy reorganization is still uncertain.

2. As a different entity from Tienu Group, the Company has independent and complete business and self-management ability, and is independent from the indirect controlling shareholder in terms of business, personnel, assets, institutions and finance. Iron Cow Group into bankruptcy procedures temporarily will not affect the production and operation of the company.

The Company will continue to pay attention to the follow-up progress of the above matters and timely fulfill the obligation of information disclosure in accordance with relevant laws and regulations. The Company's designated media for information disclosure are China Securities Journal, Shanghai Securities Journal, Securities Daily, Securities Times and the website of Shanghai Stock Exchange (www.sse.com.cn). The information released by the company is subject to the information disclosed in the above designated media. Please pay attention to the investment risk.

This is to announce.