Further to the announcements made on the 30 June, 28 September, 6 October and 22 October 2020, the Company wishes to announce that GUH Circuit Industry (Suzhou) Co. Ltd. (“GUH Suzhou”), a wholly-owned subsidiary of the Company involved in the manufacturing of printed circuit boards in Suzhou New District, Province of Jiangsu, China has been facing significant risks to its sustainability of business and operations as a consequence arising from the local authorities’ prior announcements on the urbanization of Suzhou New District, including the re-zoning of industrial areas to commercial and/or residential areas.

In light of the negative impact, GUH Suzhou has taken necessary actions by appointing professional valuer to assess and evaluate the current fair market value of its industrial land and all of its related assets.  A team of consultants and negotiator have been appointed to negotiate and work with the relevant government agencies on a win-win approach for resumption of land and compensation.

In the meantime, the Board of Directors resolved that GUH Suzhou to continue its manufacturing operations at a minimal capacity until the negotiations being finalized and successfully mediated to attain a higher compensation value.

This announcement is dated 31 May 2021.