On December 21, 2020, the non-public offering of shares of Corel Electric Group Co., Ltd. was approved by the CSRC.

The total amount of funds raised in this non-public offering is expected to be 0.5 billion yuan, which will be invested in the construction project of intelligent motor and drive control system.

The intelligent motor and drive control system is a new type of motor system produced by the development and integration of the industrial drive control field and the big data platform. It integrates the functions of motor movement, diagnosis, protection, control, and communication, and can realize the self-diagnosis of the motor system., Self-protection, self-regulation, remote control, etc.

As the core components of converting electrical energy into kinetic energy, intelligent motor and drive control system have been widely used in smart home, office automation, security monitoring, robotics, electronic manufacturing equipment, industrial automation, medical equipment, aerospace, military and other fields. With the continuous development of the global economy and scientific and technological progress, as well as the continuous improvement of people's living standards, intelligent motor and drive control system industry is still in the stage of steady growth. With the development of China's equipment manufacturing industry in the direction of high, fine and sharp, and the integration of industrialization and informatization, the intelligent development of motor and drive control system has become a necessary trend. The project will comply with the development trend of the industry and further increase the production capacity and market expansion of high-end products such as intelligent motors and drive control systems with high technical content and high added value.

This refinancing is a major measure for the company to lay out high-end industries. Through the construction of this project, it will help the company to optimize the existing product structure, enhance the competitiveness of the product market, broaden the application fields of existing products, and gradually expand to 3D printing, robots, artificial intelligence, medical equipment, security monitoring, industrial automation and other fields, so as to realize the company's steady, scientific and sustainable development strategy. At the same time, through the implementation of this project, it is beneficial for the company to build an automated production line with high process accuracy, improve the production process, greatly improve the company's production technology level and production efficiency, improve product quality, enhance product comprehensive competitiveness, and reduce operating costs and resources and energy. Consumption, improve corporate management efficiency, and consolidate the company's industry position.