The Board resolution dated May 04, 2023, the BOD of Refrigeration Electrical Engineering Corporation approved the record date to pay stock dividend for 2022 with details as follows:

-          Record date: May 22, 2023

-          Expected issue volume: 53,310,385 shares

-          Exercise ratio: 100:15 (Those who own 100 shares will receive 15 new shares)

-          Plan to deal with fractional shares: The distributed shares will be rounded down to units, the fractional shares will be cancelled.

-          Transfer restriction: none.