Newfox Optoelectronics Technology (Shanghai) Limited, a wholly-owned subsidiary of New Focus Automotive Technology Holdings Limited (“New Focus”), recently received a land storage notice issued by the Compensation Work Office at Qingpu Industrial Park, Shanghai. The notice indicated that the target properties of Newfox Optoelectronics in the Qingpu district of Shanghai, including land and above-ground buildings, may be seized. The target property is the location of the business of Newfox Optics, which primarily produces automotive electronics. At present, Newfox Optics has not signed a land acquisition agreement with the government and will begin communication and assessment work to reduce adverse effects on operations. The new focus will be based on property acquisition progress and will provide further notice to shareholders and potential investors in due course.

Newfox Optoelectronics Technology (Shanghai) Limited, a wholly-owned subsidiary of New Focus Automotive Technology Holdings Limited (“New Focus”), recently received a land storage notice issued by the Compensation Work Office at Qingpu Industrial Park, Shanghai. The notice indicated that the target properties of Newfox Optoelectronics in the Qingpu district of Shanghai, including land and above-ground buildings, may be seized. The target property is the location of the business of Newfox Optics, which primarily produces automotive electronics. At present, Newfox Optics has not signed a land acquisition agreement with the government and will begin communication and assessment work to reduce adverse effects on operations. The new focus will be based on property acquisition progress and will provide further notice to shareholders and potential investors in due course.