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Shanghai Feilo Acoustics Co., Ltd: Announcement on Shareholders’ Pledge of Stock Rights

The company’s Board of Directors and all directors ensure that this announcement does not contain any false, misleading statements or material omissions, and severally and jointly accept responsibility for the truthfulness, accuracy and completeness of its content.

On 15th March, 2016, Shanghai Feilo Acoustics Co., Ltd (hereinafter referred to as the “Company”) received a letter from its second largest shareholder Beijing Shen’an United Co., Ltd. (hereinafter referred to as “Shen’an United”). According to the letter, on 27th January, 2016, Shen’an United pledged its 20 million non-tradable shares of Shanghai Feilo Acoustic Co., Ltd to Huaxin Securities Co., Ltd. in China Securities Depository and Clearing Company Limited Shanghai Branch with a pledge period from the date of pledgee registration to the date when the pledgee relieve pledge in China Securities Depository and Clearing Company Limited Shanghai Branch.

As of now, Shen’an United holds 168,442,082 shares of the company, representing 17.1% of total share capital of the company, of which 29,556,600 shares of unlimited tradable shares, 138,885,482 shares of limited tradable shares. After the pledge of shares this time, Shen’an’s joint cumulative pledge of shares is 49,550,000 shares, representing 5.03% of the company’s total equity.

Hereby Notice.

Shanghai Feilo Acoustics Co., Ltd

Board of Directors