Shenzhen Stock Exchange issues a regulatory letter on Wanfeng Aowei.

On November 7, the Shenzhen Stock Exchange issued a supervision letter on Zhejiang Wanfeng Aowei Steam Turbine Co., Ltd. The details are as follows:

Board of Directors of Zhejiang Wanfeng Aowei Steam Turbine Co., Ltd.

On April 16, 2020, your company completed the acquisition of 55% of the equity interest in Wanfeng aircraft Industry Co., Ltd. (hereinafter referred to as "Wanfeng aircraft"). As of the date of completion of the acquisition, Wanfeng aircraft accumulated a total capital balance of 384.62 million yuan (principal) from the controlling shareholder of the listed company, Wanfengot Holdings Group Co., Ltd. and its related parties, and the above principal and interest have been fully returned by August 2020. The above matters will not be disclosed until April 30, 2021, and your company has failed to fulfill its information disclosure obligations in a timely and complete manner.

The above actions of your company violate the provisions of rules 1.4 and 2.1 of the Stock listing rules (revised in 2018). Ask your company and all directors, supervisors and senior managers to learn lessons and rectify them in a timely manner so as to prevent the recurrence of the above problems.

At the same time, remind your company and all directors, supervisors and senior managers to strictly abide by the Securities Law, Company Law and other laws and regulations, as well as the provisions of the Stock listing rules and guidelines for the standardized Operation of listed companies, truly, accurately, completely, timely and fairly perform the obligation of information disclosure and put an end to the occurrence of such incidents.

I hereby inform you

Shenzhen Stock Exchange

The second Department of Management of listed companies

November 17, 2021