Securities code: 600237 Securities abbreviation: Tongfeng Electronic Number: Lin 2020-040

Anhui Tongfeng Electronics Co., LTD
Announcement on lifting the freeze of shares held by the controlling shareholder and waiting for the freeze

The board of directors and all the directors of the Company warrant that there is no false record, misleading statement or material omission in the content of this announcement, and bear individual and joint liability for the authenticity, accuracy and completeness of the content.

Anhui Tongfeng Electronics Co., LTD. (hereinafter referred to as the "Company or Company") has recently received the "Notice of Equity Judicial Freezing and Judicial Transfer" (2020 No. 1016-02 and 2020 No. 1014-02) and attachments issued by China Securities Depository and Clearing Co., LTD. Shanghai Branch (hereinafter referred to as "Zhongdeng Shanghai Branch"), Hefei, Anhui Province Notice of Assistance in Execution issued by the Municipal Intermediate People's Court (hereinafter referred to as "Hefei Intermediate People's Court") and Shenzhen Intermediate People's Court of Guangdong Province (hereinafter referred to as "Shenzhen Intermediate People's Court") to Zhongdeng Shanghai Branch. The Company has been informed that the shares held by the controlling shareholder ---- Anhui Tongfeng Electronics Group Co., LTD. (hereinafter referred to as "Tongfeng Group") of the Company have been relieved of the judicial freeze and one round of judicial waiting freeze respectively on October 16, 2020 and October 14, 2020. The details are as follows:

1. The original freeze of the frozen shares shall be lifted

1. On August 29, 2019, according to the ruling of Hefei People's Court, Zhongdeng Shanghai Branch froze 94,561,280 shares (unlimited tradable shares) and dividend (shares assigned to be sent out, shares transferred to additional shares, and cash bonuses) held by Tongfeng Group. The freezing date is August 29, 2019 (for details, please refer to the Company's announcement on designated information disclosure media on August 30, 2019). The frozen shares have been lifted on October 16, 2020.

2. On October 24, 2019, according to the ruling of Shenzhen Intermediate Court, Zhongdeng Shanghai Branch froze 94,561,280 shares (unlimited tradable shares) and dividend (assigned shares, shares transferred to additional shares, cash bonus) held by Tongfeng Group. The freezing date shall be October 24, 2019 (for details, please refer to the Company's announcement on the designated information disclosure media on October 26, 2019). The frozen shares have been released from the waiting freeze on October 14, 2020.

Ii. The situation of lifting the freeze of the shares and waiting for the freeze

Iii. The impact and risk tips of lifting the freeze of the shares and waiting for the freeze

The controlling shareholder of the company, Tongfeng Group, has been declared bankrupt by the court because of its inability to repay maturing debts and insufficient assets to repay all debts. The bankruptcy administrator of Tongfeng Group has entrusted an auction agency to conduct a public auction of all the company's shares held by Tongfeng Group (for details, see the relevant announcement of the Company in the designated information disclosure media on September 29, 2020). It is understood that the share lifting the waiting freeze is the bankruptcy administrator of Tongfeng Group to gradually coordinate the lifting of the above auction shares pledge, freezing procedures. The Company will pay close attention to the subsequent progress of the matter and fulfill the obligation of information disclosure in a timely manner in accordance with relevant provisions.

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.