Recently, having received the non-objection letter from Shanghai Stock Exchange, Fujian Electronic & Information (Group) Co., Ltd. ("Fujian Electronic Information Group") successfully issued its 1st Phase assets-backed special plan. The creditor's rights of receivables and affiliated interests held by subsidiaries of Fujian Electronic Information Group are used as the underlying assets of this project, with Nanjing Xinxin Business Factoring Co., Ltd. acting as the originator and CICC Fortune Securities as the administrator.

The company is a wholly state-owned asset management company and investment platform in the electronic information industry established by the People's Government of Fujian Province, ranking 28th in China Top 100 Electronics Enterprises in 2020, 205th in China Top 500 Manufacturing Enterprises and 437th in China Top 500 Enterprises.

Grandall Fuzhou Office has been retained as the legal counsel with Mr. LIN Geng, Mr. ZHU Yi and Ms. LIN Lifen being key lawyers serving the case.