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Huada Jiutian announced that China Electronics Group, as the controlling shareholder of the company's largest shareholder, had fully communicated and negotiated with other shareholders and directors of the company, and its shareholders, Beijing Jiuchuanghui New Asset Management Partnership (Limited Partnership) and its recommended directors, Yang Xiaodong, and independent directors, Chen Lijie and Zhou Qiang, agreed to support China Electronics Group in obtaining control of the company by transferring the board seats.It is worth mentioning that the US Department of Commerce announced the latest "Entity List" on December 2, 2024 local time, and Huada Jiutian and its related subsidiaries were included in the list. In this regard, Huada announced the next day that the company is actively responding to the possible risks of being included in the "entity list". The impact of being included in the entity list by the United States is generally controllable. At present, the company's operation and financial situation are normal, and various businesses are progressing steadily. The company will seize the opportunity of development and accelerate the localization process of EDA tools in the whole process.In the announcement, Huada Jiutian said that after China Electronics Group officially acquired the control right of the company, it will give full play to the resource advantages of China Electronics Group, connect with national ministries and commissions, local governments, central enterprises and relevant industry forces, and further play an active role in key target investment, national project undertaking and industrial policy striving, so as to help Huada Jiutian solve its development needs in terms of capital, technology, team and policies as soon as possible, and help Huada Jiutian become a world-class EDA enterprise with strong international competitiveness and influence.

After the directors' adjustment, Huada Jiutian will be included in the consolidated statements of China Electronics Group in terms of financial treatment and managed as a consolidated enterprise of China Electronics Group. At the same time, China Electronics Group plans to adjust Huada Jiutian from a strategic shareholding enterprise to a holding enterprise for management, and the internal management regulations of China Electronics Group on holding enterprises shall apply. The actual controller of Huada Jiutian intends to change from no actual controller to China Electronics Group, the controlling shareholder of the company's largest shareholder.Founded in 2009, Huada Jiutian has been focusing on the development, sales and related services of EDA tools.After the directors' adjustment, Huada Jiutian will be included in the consolidated statements of China Electronics Group in terms of financial treatment and managed as a consolidated enterprise of China Electronics Group. At the same time, China Electronics Group plans to adjust Huada Jiutian from a strategic shareholding enterprise to a holding enterprise for management, and the internal management regulations of China Electronics Group on holding enterprises shall apply. The actual controller of Huada Jiutian intends to change from no actual controller to China Electronics Group, the controlling shareholder of the company's largest shareholder.

For a long time, the EDA market in China has been monopolized by three giants: Cadence, Synopsys and Siemens EDA. According to the report of China Commercial Industry Research Institute, the market share of the top three enterprises exceeds 70%; The market share of Huada Jiutian currently accounts for 5.9%, ranking first in China.Huada Jiutian announced that China Electronics Group, as the controlling shareholder of the company's largest shareholder, had fully communicated and negotiated with other shareholders and directors of the company, and its shareholders, Beijing Jiuchuanghui New Asset Management Partnership (Limited Partnership) and its recommended directors, Yang Xiaodong, and independent directors, Chen Lijie and Zhou Qiang, agreed to support China Electronics Group in obtaining control of the company by transferring the board seats.