On July 12, 2021, at the 72nd working meeting of the 18th Issuance Review Committee of the China Securities Regulatory Commission in 2021, Nanjing Chervon Auto Precision Technology Co., Ltd. 's application for public issuance of convertible corporate bonds was approved. Mr. Pan Longquan, Chairman of Chervon Auto Co., Ltd.、Mr. Liu Zhiwen, Secretary of the Board of Directors and Chief Financial Officer, Mr. Liang Yong and Mr. Wei Dejun, representatives of CICC, attended the meeting on behalf of the company.

The total amount of the proposed issuance of convertible bonds is not more than RMB620,000,000 (including RMB620,000,000), which is mainly used for the construction of the high-end auto parts intelligent manufacturing project (phase I) of Ma’anshan subsidiary.

The review of the issuance of convertible bonds passed smoothly, which is the first time for the company to conduct refinancing after listing. It is not only conducive to speeding up the construction of the Ma’anshan project, but also will become a new starting point for the company's continuous development in the capital market.