Securities code: 688800 Securities abbreviation: Ruida Announcement No.: 2023-043

Announcement of Suzhou Ruieda Connection System Co., Ltd. on the participation of wholly-owned subsidiaries in judicial auction to obtain assets

the company's board of directors and all directors to ensure that the contents of this announcement does not exist any false records, misleading statements or major omissions, and the authenticity, accuracy and completeness of the contents of the legal responsibility.

Overview of the basic situation of the 1.

Suzhou Ruita Connection System Co., Ltd. (hereinafter referred to as the "Company") held the fourth meeting of the fourth board of directors on July 7, 2023, and reviewed and approved the "Regarding the Management Office of Jiangsu Taizhou Port Economic Development Zone, Taizhou Gaogang High-tech Zone Development and Construction Co., Ltd. Proposal on Signing Investment Agreement and Foreign Investment", the company agreed to transfer 100% equity of Jiangsu Feitai Electronics Co., Ltd. (hereinafter referred to as "Feitai Electronics"), and after acquiring 100 percent of the equity of Feitai Electronics, the assets of Jiangsu Yangtai Electronics Co., Ltd. (hereinafter referred to as "Yangtai Electronics") were acquired through judicial auction in the name of Feitai Electronics. On July 24, 2023, the company held a general meeting of shareholders on the above matters and considered and passed relevant bills.

This transaction does not constitute a connected transaction, nor does it constitute a major asset reorganization as stipulated in the Measures for the Administration of Major Asset Reorganization of Listed Companies.

Feitai Electronics became a wholly-owned subsidiary of the company after completing the industrial and commercial changes. On July 25, 2023, Feitai Electronics participated in the public auction conducted by Taizhou Gaogang District People's Court on Taobao's judicial auction network platform. The auction target assets were Yangtai Electronics's non-residential real estate and machinery and equipment located at No. 6 Xingang Avenue, Lingang Industrial Park, Gaogang District, Taizhou City, and Wensheng Henan on the west side of Dongfeng Road. The starting price of the assets in this auction is RMB 154,487,480. Feitai Electronics closed the transaction at the starting price. The transaction process complies with laws and regulations, and there is no behavior that harms the interests of the company and all shareholders, especially small and medium shareholders. On July 26, 2023, Feitai Electronics obtained the "Confirmation of Successful Online Bidding" and received the "Execution Ruling" issued by the People's Court of Gaogang District, Taizhou City on July 28, 2023. The content of the ruling is as follows:

"Jiangsu Yangtai Electronics Co., Ltd. is located at No. 6 Xingang Avenue, Lingang Industrial Park, Gaogang District, Taizhou City. The ownership of non-residential real estate and machinery and equipment on Wensheng Henan side on the west side of Dongfeng Road, Port Street belongs to Jiangsu Feitai Electronics Co., Ltd. (Social Unified Credit Code Certificate 91321291MAC440CHXN), and the ownership will be transferred from the time this ruling is delivered to the buyer."

2. the purpose of this transaction and the impact on the company

The wholly-owned subsidiary Feitai Electronics participated in the auction to obtain assets, which is in line with the company's overall strategic development needs in the future, helps to enhance the company's sustainable development capabilities, and is in line with the interests of all shareholders and the company.

The assets bid for in the judicial auction must be transferred and relevant taxes and fees must be paid. There is a risk of delivery delay in this transaction. Investors are advised to pay attention to the relevant risks.

It is hereby announced.

Board of Directors of Suzhou Ruihe Connect Systems Co., Ltd.

29 July 2023