ACON : Announcement on behalf of subsidiary Advanced Connectek (Shen-Zhen) Inc. receiced administrative sanction from tax bureau.

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Provided by: ACON Holding Inc.
SEQ_NO	1	Date of announcement	2022/08/15	Time of announcement	21:08:31
Subject	Announcement on behalf of subsidiary Advanced Connectek (Shen-Zhen) Inc. receiced administrative sanction from tax bureau.
Date of events	2022/08/15	To which item it meets	paragraph 26
Statement	1.Date of occurrence of the event:2022/08/15 2.Cause of occurrence:Advanced Connectek (Shen-Zhen) Inc. receiced administrative sanction from tax bureau. 3.Handling procedure: Advanced Connectek (Shen-Zhen) Inc. was fined by local tax bureau according to tax law, because of the process of handling withholding and transfer of factory buildings during 2013 to 2017, some procedures were different from those determined by the tax bureau. 4.Anticipated possible loss or impact: Basic tax amounting to RMB 21,880,000, fines RMB 6,490,000 and late fees. 5.Amount of insurance claims that might be obtained:None. 6.Improvement status and future countermeasures: Subsidiary will submit administrative reconsideration or appealing to tax bureau. 7.Any other matters that need to be specified: Subsidiary has accrued related liabilities in 2021, No significant impact on the Company's profit in 2022.