JOVE recently issued an announcement that according to the needs of the company's business scale development, Shenzhen JOVE Enterprise Limited (hereinafter referred to as the "Company") plans to invest and set up a subsidiary in Thailand. (Subject to the final actual investment amount).

Basic information of the investment target:

Company name: WTT Electronics Co.Ltd (tentative name, subject to the final registration and approval of the relevant local authorities) Total investment: no more than $75 million (subject to the final actual investment amount) Contribution method: cash contribution, sourced from The company's own funds and self-raised funds. Equity structure: JOVEPCB ENTERPRISE LIMITED, a wholly-owned subsidiary of the company, holds 100% of the shares. Company type: limited liability company Business scope: printed circuit board (PCB) and electronic products design, production and sales of services The above information is based on the filing or approval results of the domestic overseas investment authorities (the national development and reform department, the commerce department, the foreign exchange management department, etc.) .

It is understood that the related industrial chain supporting of local printed circuit boards in Thailand has been continuously improved, and it has comparative advantages in terms of cost of land, workshop, manpower and taxation. This foreign investment will better meet the needs of the company's customers, enhance the company's core competitiveness, help the company optimize production costs, and improve the company's economic benefits.

The funds for this external investment come from the company's own funds and self-raised funds, which will not have a significant impact on the company's financial status and operating conditions, and will not harm the interests of the company and shareholders. There is no situation that damages the legitimate interests of the company and its shareholders, which has a positive impact on the development of the company and is in the interests of all shareholders.