USI Intends to Acquire Asteelflash, Europe’s Second-Largest EMS Company, to Accelerate Its Global Expansion

Universal Scientific Industrial (Shanghai) Co., Ltd. (hereinafter referred to as “USI”) (SSE:601231), a leading electronics designer and manufacturer, formally announced its intention to enter into the Equity Acquisition Agreement with the shareholders of Asteelflash, the second largest EMS company in Europe. It intends to acquire 100% equity of Asteelflash for 450 million US dollars, of which 89.6% is paid in cash, 10.4% is paid by issuing shares of USI to privately owned company of Asteelflash’s founder (i.e. equity swap). The transaction is subject to approval by the relevant competent authorities.

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