Fenghua Hi-Tech: the stake of 700 million yuan in World Games Circuit has been reduced to 30%.

On July 23, Fenghua Hi-Tech issued an announcement on the progress of capital increase and share expansion of NEC soft Technology Electronics (Zhuhai) Co., Ltd. by introducing strategic investors through public listing.

It has been disclosed that Fenghua Hi-Tech wholly-owned subsidiary Nadian soft Technology Electronics (Zhuhai) Co., Ltd. (hereinafter referred to as "Nadian Technology") increased its capital and shares and introduced strategic investors by way of public listing, with a reserve price of 700 million yuan, of which 155.3428 million yuan was included in the registered capital of NEC Technology, and the rest was included in the capital reserve of NEC Technology.

The capital increase project of Nadian soft Technology Electronics (Zhuhai) Co., Ltd. was publicly listed in Guangdong United property Rights Exchange Center on April 30, 2021 and expired on June 29, 2021. After examination and confirmation, Guangdong World Games Circuit Technology Co., Ltd. (referred to as "World Games Circuit") is the only qualified capital increase party for this project, and the company, World Games Circuit and Nai Dian Technology have signed the "Capital increase contract" and the "Capital increase contract Supplementary contract".

On July 21, 2021, NEC completed the registration procedures for industrial and commercial change and obtained a new business license. Fenghua Hi-Tech's stake in NEC was changed from 100% to 30%, and the proportion of equity held by World Games Circuit was 70%.