Securities code: 600237 Securities abbreviation: Tongfeng Electronic Number: Lin 2020-041

Anhui Tongfeng Electronic Co., Ltd. on the controlling shareholder all shares of the auction progress announcement

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.

Important content Tips:

l If the judicial auction of the shares is successful, it will lead to the change of the company's controlling shareholders and actual controllers.

l The auction matters still involve the court issued the auction decision, equity change transfer and other follow-up matters, there are still some uncertainties.

Anhui Tongfeng Electronics Co., LTD. (hereinafter referred to as the "Company or Company") disclosed on September 29, 2020 the "Suggestive Announcement that All Shares of the Company's Controlling Shareholders will be auctioned" (Announcement No. : 2020-039), the bankruptcy administrator of Anhui Tongfeng Electronics Group Co., LTD. (hereinafter referred to as "Tongfeng Group"), the controlling shareholder of the Company, entrusted an auction agency, An auction of all 94,561,280 shares of the Company held by Copperpeak Group will be conducted from 10:00 on October 15, 2020 to 10:00 on October 16, 2020 (except for delay). The progress of this auction is now announced as follows:

First, the result of the auction

From 10 hours on 15 October 2020 to 10 hours on 16 October 2020, The 94,561,280 non-restricted outstanding shares held by Tongfeng Group (accounting for 16.76% of the Company's total capital) of the Company were auctioned on the Online Auction platform of the China Auction Association (http://www.caa123.org.cn). According to the auction "Electronic Transaction Confirmation", on October 16, 2020, after public bidding, the bidder, Tongling Dajiang Investment Holding Co., LTD., bid number Q2634, To 464,295,884.80 yuan (four hundred and forty four million Two hundred and forty-five thousand Eight hundred and eighty four yuan only) won the auction object "Anhui Tongfeng Electronics Group Co., LTD. Anhui Tongfeng Electronics Co., LTD. 94,561,280 shares of non-restricted tradable shares." The final transaction of the auction targets shall be subject to the court ruling issued by Tongling Intermediate People's Court.

Ii. Other information description and risk warning

1. Prior to this auction, Tongfeng Group held 94,561,280 shares of the Company, accounting for 16.76% of the total share capital of the Company. Upon the final transfer of the shares in this auction, Tongfeng Group will no longer hold shares of the Company. If the bidder completes the equity transfer, Tongfeng Group will passively reduce its holdings and lead to equity changes. This auction will lead to changes in the controlling shareholders and actual controllers of the company.

2. This auction will involve the court ruling, equity change transfer and other links, and there is still uncertainty whether it will be completed. The Company will pay close attention to the subsequent progress of the auction and fulfill its information disclosure obligations in a timely manner in accordance with the relevant provisions of the Shanghai Stock Exchange's Stock Listing Rules.

3. 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 shall be subject to the information disclosed in the above designated media.

This is to announce.