Securities code: 600237 Securities abbreviation: Tongfeng Electronic Number: Lin 2020-047

Anhui Tongfeng Electronics Co., LTD
Announcement on the early election of the Board of Directors and the Board of Supervisors

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.

On October 16, 2020, Tongling Dajiang Investment Holding Co., LTD. (hereinafter referred to as "Dajiang Investment") bid at the highest price for all 94,561,280 shares held by Anhui Tongfeng Electronics Group Co., LTD. (hereinafter referred to as the "Company or Company"), the former controlling shareholder of Anhui Tongfeng Electronics Co., LTD. Accounting for 16.76% of the total share capital of the Company (for details, please refer to the relevant announcements of the Company on September 29, October 17, October 20 and October 21, 2020 in designated information disclosure media). The above auction transaction information has taken effect on October 16, 2020 by the ruling of Tongling Intermediate People's Court, and the registration of transfer has been completed on November 3, 2020. Dajiang Investment has become the controlling shareholder of the company.

In view of the fact that the controlling shareholders and actual controls of the Company have changed, in order to improve the corporate governance structure, ensure the effective decision-making and steady development of the company, the board of directors and the Board of supervisors of the Company have been elected in advance in accordance with the Company Law, the China Securities Regulatory Commission's Guidance on Establishing the Independent Director System in Listed Companies, the Articles of Association and other relevant provisions.

The Company held the 14th meeting of the eighth Board of Directors and the 11th meeting of the eighth Board of Supervisors on November 6, 2020. The Motion on the Early Election of the Board of Directors of the Company and nomination of candidates for the 9th Board of Directors, the Motion on the Early Election of the Board of Directors of the Company and nomination of candidates for the 9th Board of Independent Directors and the Motion on the Early election of the Board of Supervisors of the Company and nomination of supervisors for the 9th Board of Supervisors have been deliberated and passed respectively. The detailed information is hereby announced as follows:

I. Information about the 9th Board of Directors and candidates

According to the Company Law, the Articles of Association and other relevant provisions, the ninth board of directors of the Company consists of 7 directors, including 3 independent directors, whose term of office is three years from the date of deliberation and approval by the general meeting of shareholders.

1. Recommended by Tongling Dajiang Investment Holding Co., LTD., the controlling shareholder, and approved by the nominating Committee of the Board of Directors of the Company, the Board of directors agrees to nominate Mr. Huang Mingqiang, Mr. Liu Qi, Mr. Chen Bing and Mr. Zhang Feifei as candidates for the 9th Board of Directors of the Company;

2. Upon the recommendation of Tongling Dajiang Investment Holding Co., LTD., the controlling shareholder, and the approval of the nominating Committee of the Board of Directors of the Company, the Board of Directors agrees to nominate Mr. Huang Jizhang, Mr. Ye Yunping and Mr. Chen Wuwei as candidates for independent directors of the 9th Board of Directors.

Among the above candidates, Mr. Huang Jizhang is an accounting professional, Mr. IP Yunping is a legal professional, and Mr. Huang Jizhang and Mr. Chen Wuwei have obtained the independent director qualification certificate. Mr. Ye Yunping has not yet obtained the independent director qualification certificate. Mr. Ye has promised to attend the recent independent director training and obtain the Independent director qualification certificate recognized by Shanghai Stock Exchange.

The independent director has expressed an agreed independent opinion on the above nominated directors of the board of directors and independent director candidates, holding that the above candidates are in conformity with the provisions of laws, regulations and the Articles of Association concerning the qualifications of directors and independent directors. The procedures and voting results of the nomination of directors and independent director candidates by the Board of directors of the Company comply with relevant laws, regulations and the Articles of Association. To approve the candidates for the ninth Board of Directors and independent directors nominated by the Board of Directors of the Company and to submit them to the General Meeting of shareholders for deliberation.

Ii. Information about the 9th Board of Supervisors and candidates

According to the provisions of the Articles of Association, the board of supervisors of the company shall be composed of 3 supervisors, including 1 employee representative supervisor. The term of office shall be three years from the date of deliberation and approval by the general meeting of shareholders. On November 6, 2020, the Company held the 11th meeting of the eighth Board of Supervisors, deliberated and passed the Motion on the early election of the Company's Board of Supervisors and nomination of the ninth Board of Supervisors, and agreed to nominate Mr. Liu Sihe and Mr. Xiao Song as the candidates for the ninth Board of Supervisors.

According to the provisions of the Company Law and the Articles of Association, Mr. Huang Yunkai has been elected as the staff supervisor of the ninth Board of Supervisors after deliberation and approval by the staff representative conference of the company. The employee supervisor and the two supervisors elected by the shareholders' meeting of the Company will form the ninth Board of Supervisors of the Company for a term of three years.

Iii. The ninth election method for candidates of directors, independent directors and supervisors

1. The above candidates of directors, independent directors and non-employee representatives of supervisors will be submitted to the second extraordinary General Meeting of shareholders of the Company in 2020 for election. The qualifications and independence of the candidates of independent directors have been examined and verified by the Shanghai Stock Exchange and there is no objection.

2. According to the Articles of Association, directors, independent directors and non-employee representatives of the Board of Supervisors shall be elected by cumulative voting system respectively.

Iv. Other instructions

In order to ensure the normal operation of the Board of Directors and the Board of Supervisors, before the ninth director and the supervisor take office, the original director and the supervisor shall still earnestly perform their duties in accordance with the requirements of laws, administrative regulations and other normative documents and the provisions of the Articles of Association. The company would like to express its sincere thanks to the eighth directors and supervisors for their contribution to the development of the company.

This is to announce.