On March 30, 2021, Shenzhen Dawei Innovation Technology Co.,Ltd. Hereinafter referred to as Dawei, held a meeting to review and pass the “Proposal on Capital Increase in Sichuan OALE Smart Industrial Co.,Ltd.” To accelerate company industrial layout and meet the company’s future development requirements, Dawei and OALE have agreed to increase the registered capital of Sichuan OALE Industrial Co., Ltd to 60 million RMB, of which: Dawei subscribe for Sichuan OALE in cash. The registered capital was increased by 36 million RMB, and OALE HK subscribed for 24 million RMB.

OALE Smart Industrial Co.,Ltd, national high-tech enterprise, was established on Dec, 20^th 2016, mainly engaged in smart terminals’ design, research and development, production, sales and brand operation. At present, it has three own brands in H-mobile ( local market for feature phone and smart phone), OALE (mid-end market for smart phone), MAXFONE (mid-end market for feature phones) and related accessories like chargers, batteries, earphone and others. The products have passed CE, CCC, UL certification, mainly exported to HONGKONG, Thailand, India, Dubai, Brazil and other regions, enjoying a good reputation and high-quality sales channels overseas.

For a long time, as a strategic plan, OALE has been developing steadily in mobile area. Till date, it seems developed smoothly and seized the opportunity. The establishment of Sichuan OALE aims to fill some of the technological and product gaps in the mobile industrial chain.

Before capital increase, the actual controller of Sichuan OALE was Shenzhen OALE. On Nov, 2^nd, 2020, OALE and the people’s Government of Lu County, Sichuan province signed the”OALE Luzhou Intelligent Manufacturing Base Annual Production of 20 Million Communication Terminal Project Investment Contract” and related supplementary agreements.

The total investment of the project is about 600 million RMB. It rents about 25,000 square meters of standardized workshops in the Chengxi Industrial Park of Luxian Economic Develoment Zone, which is mainly used for the construction of production lines. It’s planned to compete the decoration in 2021, and the equipment will be installed and commissioned and put into production. After it’s put into production, the goal is to achieve annual sales revenue of more than 600 million RMB in 2021, and reach production in 2022, and achieving annual sales revenue of more than 1 billion RMB. In the first five fiscal years(by 2025), the total sales revenue will reach 5 billion RMB.

The cooperation between Sichuan OALE and Dawei is aim to promote the company’s business development and further meet the company’s future development demands in mobile industry chain, and also to achieve the company’s established strategic goals and enhance the company’s competitiveness. To drive the company’s overall comprehensive, healthy, and sustainable development.