Securities code: 600237 Securities abbreviation: Tongfeng Electronic Announcement Number: Lin 2022-004

Anhui Tongfeng Electronics Co., Ltd. on the wholly-owned subsidiary - Anhui Tongfeng Trade Import and Export Co., Ltd. to provide guarantee 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:

Name of Guarantor: wholly-owned subsidiary -- Anhui Tongfeng World Trade Import and Export Co., LTD
l The amount of the guarantee and the balance of the guarantee actually provided for it: The maximum amount of the guarantee provided for Anhui Tongfeng World Trade Import and Export Co., Ltd. for the credit application is RMB 10 million. Up to now, the company does not provide guarantee for Anhui Tongfeng WTO Import and Export Limited Company.
l Whether there is a counterguarantee in this guarantee: No
l Total amount of external guarantee: RMB 23.5 million (excluding this guarantee)
l Accumulative amount of overdue external guarantee: none

I. Overview of the guarantee situation

On February 5, 2021, the third meeting of the ninth Board of Directors of Anhui Tongfeng Electronics Co., LTD. (hereinafter referred to as the "Company") deliberated and passed the Proposal on the expected guarantee amount for wholly-owned and controlling subsidiaries in 2021, agreeing that the Company would provide comprehensive credit guarantee for wholly-owned and controlling subsidiaries with a total amount not exceeding 80 million yuan. The company agrees to provide a guarantee limit of not more than 20 million yuan for the wholly-owned subsidiary Anhui Tongfeng WTO Import and Export Co., LTD. (hereinafter referred to as "Tongfeng WTO"). The authorization guarantee shall be valid for one year from the date of approval by the Board of Directors (as detailed in the Company's announcement on the website of Shanghai Stock Exchange and the Company's designated media on February 6, 2021).
Recently, the company and Huishang Bank Tongling Beijing Road branch signed the "guarantee contract", the company will provide the maximum limit for the loan Tongfeng World Trade Organization to provide a guarantee of 10 million yuan, the guarantee period is three years, the guarantee way for the joint liability guarantee.

Ii. Basic Information of the Guaranteed

Anhui Tongfeng World Trade Import and Export Co., Ltd. was established on April 29, 2008. The company is a limited liability company (sole legal person invested or held by no natural person). Its domicile is No. 399, West Section of Cuihu Third Road, Tongling City, Anhui Province. The registered capital of Tongfeng is 40 million yuan, of which the company holds 100% of the total shares of the company. The company is mainly engaged in self-operated and agent import and export trade of various kinds of commodities and technologies, electronics, chemical, machinery equipment, auto parts import, processing, compensation trade (except the import and export of commodities and technologies restricted or prohibited by the state, involving the license or special approval of the business with valid certificates).

According to the audit report issued by Rongcheng Certified Public Accountants (Special General Partnership), as of December 31, 2020, the total assets of Tongfeng WTO were 14,432,0900 yuan, the total liabilities were 11,756,400 yuan, and the owners' equity was 25.564,500 yuan. In 2020, the company achieved operating revenue of 179.1509 million yuan and net profit of -2.6707 million yuan. As of September 30, 2021, the total assets of Tongfeng World Trade Group are RMB 54,044,400, total liabilities are RMB 37.529,800 and owners' equity is RMB 16,516,600. From January to September 2021, the company achieved operating revenue of 28,2,653,000 yuan and net profit of -9,047,900 yuan (data has not been audited).

Iii. Main contents of the guarantee Agreement

The company will provide a guarantee for the loan applied by Tongfeng WTO in Huishang Bank Tongling Beijing Road Branch with a maximum limit of 10 million yuan. The guarantee method is joint and several liability guarantee, and the guarantee period is three years. The specific business elements of the guarantee are subject to the relevant contract text signed with the bank.

Iv. Opinions of the Board of Directors

The board of directors believes that: the wholly-owned subsidiary Tongfeng WTO is currently mainly responsible for the import and export business of the company, acting as the agent for the import of raw materials, equipment and accessories required by the production of the company and the export business of products. The guarantee provided for Tongfeng WTO will mainly be used to meet the company's demand for funds in the relevant import and export business of the agency of the company, so as to guarantee the needs of the company's production and operation, which is conducive to the stable operation of the company's production and operation. Copper Peak World Trade for the company's wholly-owned subsidiary, the relevant security risks can be controlled.

5. The accumulative amount of external guarantees and the overdue amount of guarantees

Up to now, the cumulative total amount of the company's external guarantees is 23.5 million yuan (excluding this guarantee), accounting for 2.10% of the company's audited net assets attributable to the parent company in 2020. All the above guarantees are for the holding subsidiaries. The company has no overdue external guarantee.

Vi. File directory for reference

1. Copy of Business license of Tongfeng World Trade Organization;
2. Annual financial statements of Tongfeng World Trade Center.
This is to announce.