On June 25th, 2023, Kinashine Electronic(300903.SZ) announced its plan to acquire 90% equity of Shenzhen Inorsen(a subsidiary of Inorsen Group)in cash, and has signed the "Acquisition Intention Agreement". Following initial negotiations, the total valuation of Shenzhen Inorsen is expected to be no more than RMB 120 million.

Shenzhen Inorsen has extensive expertise in selecting high-frequency materials as well as in RF microwave circuit engineering technology and the application of various frequency products. Thus,this acquisition is expected to enhance Kinashine's competitiveness in the fields of mobile communications, satellite communications, and automotive safety electronics, particularly in product types such as base station antennas, base station filters, satellite high-precision antennas, automotive overspeed warning radar, automotive anti-collision radar, microwave passive devices, and active modules related to mobile communications.

In addition, InorsenVinaCo., LTD, a wholly-owned overseas subsidiary of Shenzhen Inorsen located in Dong Lang Industrial Park, Phu Ninh District, Phu Tho Province Vietnam, has established a stable overseas customer base, providing Kinashine with an opportunity to use Vietnam as a base to offer one-stop high-quality electronic products and services to global customers and lay a solid foundation for expanding into the global electronic market.

About Kingshine Electronic

Guangdong Kingshine Electronic Technology Company Limited (Briefy called Kingshine Electronic) was established in 2001, specializing inR&D, production and sales of Double Side,Multilayer,HDI, Thick Cu,High Frequency8Speed,Aluminum,Rigid8Flex,IC-Substrate Printed Circuit Board.Kingshine Electronic has possessed four ful-process PC manufacturing plants: Guangdong Kingshine Electronic Technology CompaniLimited,TEAN ELECTRONIC (DA YA BAY) CO., LTD, Huizhou Daya Bay Milion Sources PCB Co. Ltd and SINO & HUAYUAN ELECTRONICECHNOLOGY (SHENZHEN) CO. TD.