Lingyi Intelligent Manufacturing: 2026 Semi-annual Report

Full text of the 2026 semi-annual report of Guangdong Lingyi Intelligent Manufacturing Co., Ltd.

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Full text of the 2026 semi-annual report of Guangdong Lingyi Intelligent Manufacturing Co., Ltd.

Section 1 Important Tips, Table of Contents and Definitions

The company's board of directors, directors and senior managers guarantee that the contents of the semi-annual report are true, accurate and complete, and that there are no false records, misleading statements or major omissions, and bear individual and joint legal liability.

The person in charge of the company, Zeng Fangqin, the person in charge of accounting Wang Tao, and the person in charge of the accounting department (accounting officer) Huang Jinrong declare that they guarantee the authenticity, accuracy and completeness of the financial report in this semi-annual report. All directors have attended the board meeting to review this semi-annual report.

The company's future development strategy, business plans and other forward-looking statements involved in this report do not constitute the company's substantive commitment to investors. Whether the relevant business plans can be realized is affected by changes in the internal and external business environment, and there is great uncertainty. Investors are advised to pay attention to investment risks.

The company has elaborated in this report the risks that the company may face in the future. For details, please refer to the content about possible risk factors and countermeasures in "12. Risks and Countermeasures Facing the Company" in Section 3 of this report, "Management Discussion and Analysis".

The company's profit distribution plan reviewed and approved by the board of directors is as follows: based on the company's total share capital of 8,076,077,727 shares as of July 31, 2026, excluding the shares held by the special repurchase account, a cash dividend of 0.2 yuan (including tax) will be distributed to all shareholders for every 10 shares. No bonus shares will be given, and public reserves will not be converted into share capital.

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Directory

Section 1 Important Tips, Table of Contents and Definitions .................................................................................. 2

Section 2 Company Profile and Main Financial Indicators .................................................................................. 6

Section 3 Management Discussion and Analysis ............................................................................................................. 9

Section 4 Corporate Governance, Environment and Society .................................................................................................. 72

Section 5 Important Matters ............................................................................................................................ 77

Section 6 Changes in Shares and Shareholders ............................................................................................. 101

Section 7 Bond-related situations .................................................................................................................. 107

Section 8 Financial Report ............................................................................................................................ 108

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Document directory for reference

1. The 2026 semi-annual report signed by the company’s chairman, Ms. Zeng Fangqin.

2. Financial statements signed and stamped by the company’s legal representative, Ms. Zeng Fangqin, the person in charge of accounting work, Mr. Wang Tao, and the head of the accounting department (accounting officer) Ms. Huang Jinrong.

3. The original copies of all company documents and announcements publicly disclosed in newspapers designated by the China Securities Regulatory Commission during the reporting period.

4. Other relevant information.

5. Place for preparing documents for reference: Securities Department of the Company

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Definition

Interpretation item refers to the interpretation content

Guangdong Lingyi Intelligent Manufacturing Co., Ltd., formerly known as Guangdong Jiangfen Magnetic Materials Company/our company/listed company/Lingyi Intelligent Manufacturing refers to

Co., Ltd.

"Company Law" means "Company Law of the People's Republic of China"

“Securities Law” refers to the “Securities Law of the People’s Republic of China”

China Securities Regulatory Commission refers to China Securities Regulatory Commission

Shenzhen Stock Exchange refers to Shenzhen Stock Exchange

Clearing Company refers to China Securities Depository and Clearing Co., Ltd. Shenzhen Branch

During the reporting period refers to January 1, 2026 to June 30, 2026

The end of the reporting period refers to June 30, 2026

Lingsheng Investment (Jiangsu) Co., Ltd. (former name: Lingsheng Investment Lingsheng Investment refers to

(Shenzhen) Co., Ltd.), the controlling shareholder of the company

Die-Cutting is a method of punching tape, foam, graphite and other tape materials using a flat or round knife machine. It is often used for die cutting in industrial electronics.

Processing of auxiliary materials for product bonding, dustproofing, shockproofing, insulation, shielding, thermal conductivity, etc.

Stamping is a process in which metal materials are punched, stamped, and bent using punches and dies to assist in welding and riveting processes to obtain precision parts.

Computer Numerical Control, computer numerical control processing, CNC refers to the manufacturing method of processing machine tools to mill metal, plastic materials, etc. to form precision parts.

Injection molding is a process for producing structural parts. It refers to injection molding.

A molding method in which plastic is injected into the mold and solidified after cooling.

Module, an electronic component with independent functions, such as a display module

group, motor module, camera module, fingerprint module and other components

The 5th Generation Wireless Systems, the fifth generation of mobile 5G refers to

communication technology

AI refers to Artificial Intelligence, artificial intelligence

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Section 2 Company Profile and Main Financial Indicators

1. Company Profile

002600 (A shares), 01688 (H stock abbreviation Lingyi Zhizao stock code

stock) stock abbreviation before change (if any) Not applicable

Stock exchanges where stocks are listed: Shenzhen Stock Exchange, The Stock Exchange of Hong Kong

The Chinese name of the company: Guangdong Lingyi Intelligent Manufacturing Co., Ltd.

The company’s Chinese abbreviation (if any) Lingyi Zhizao

Company’s foreign name (if any) LINGYI iTECH (GUANGDONG) COMPANY

The abbreviation of the company’s foreign name (such as

LYiTECH

Yes)

The legal representative of the company Zeng Fangqin

2. Contact person and contact information

Secretary of the Board of Directors Name of securities affairs representative Guo Rui Bi Ran, Xiong Junjie Contact address Lingyi Building, Futian District, Shenzhen City, Guangdong Province Lingyi Building, Futian District, Shenzhen City, Guangdong Province Telephone 0755-36882182 0755-36882182 Fax 0750-3506111 0750-3506111 Email [email protected] [email protected]

3. Other situations

1. Company contact information

Whether the company's registered address, company office address and its postal code, company website, e-mail address, etc. have changed during the reporting period?

Applicable □Not applicable

Company's registered address: No. 8, Longwan Road, Pengjiang District, Jiangmen City, Guangdong Province Postal code of the company's registered address: 529000

Company office address Postal code of the company's office address: Lingyi Building, Futian District, Shenzhen City, Guangdong Province 518000

Company website www.lingyiitech.com

Company email: [email protected]

The designated website inquiry date for temporary announcement disclosure (if any) June 10, 2026

"About changes in office address and investment" disclosed by the company on June 10, 2026 in the designated website query index (if any) (www.cninfo.com.cn) disclosed in the temporary announcement of cninfo.com

Announcement of Contact Information for Authors" (Announcement No.: 2026-063)

2. Information disclosure and preparation location

Whether the location of information disclosure and preparation changes during the reporting period

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□Applicable Not applicable

The name and URL of the stock exchange website and media where the company discloses its semi-annual report. The location where the company's semi-annual report is prepared has not changed during the reporting period. For details, please refer to the 2025 annual report.

3. Other relevant information

Whether other relevant information has changed during the reporting period

□Applicable Not applicable

4. Main accounting data and financial indicators

Whether the company needs to retroactively adjust or restate previous years’ accounting data

□Yes No

This reporting period The same period last year This reporting period increased or decreased operating income compared with the same period last year (yuan) 25,149,133,679.37 23,625,285,379.19 6.45% Net profit attributable to shareholders of listed companies

763,630,227.88 929,860,823.22 -17.88% profit (yuan)

Deductions attributable to shareholders of listed companies

Net profit from non-recurring gains and losses 388,767,056.93 605,828,635.05 -35.83% (yuan)

Net cash flow from operating activities

1,709,919,094.31 1,673,167,809.40 2.20% (yuan)

Basic earnings per share (yuan/share) 0.11 0.13 -15.38% Diluted earnings per share (yuan/share) 0.10 0.13 -23.08% Weighted average return on equity 3.14% 4.59% decreased by 1.45 percentage points

End of the reporting period End of the previous year Total assets increased or decreased at the end of the reporting period compared with the end of the previous year (yuan) 65,407,742,651.89 57,900,451,001.32 12.97% of the net assets attributable to shareholders of the listed company

31,518,690,744.94 24,040,141,759.83 31.11% output (yuan)

Companies with equity incentives and employee stock ownership plans can disclose net profits after deducting the impact of share-based payments.

Main accounting data for this reporting period The same period last year Net profit for this period increased or decreased after deducting the impact of share-based payment compared with the same period last year

969,234,259.50 1,085,508,902.91 -10.71% profit (yuan)

5. Differences in accounting data under domestic and foreign accounting standards

1. Differences in net profit and net assets in financial reports disclosed in accordance with both international accounting standards and Chinese accounting standards

□Applicable Not applicable

During the reporting period, there was no difference between the net profit and net assets in the financial reports disclosed in accordance with international accounting standards and Chinese accounting standards.

2. Differences in net profit and net assets in financial reports disclosed in accordance with both foreign accounting standards and Chinese accounting standards

□Applicable Not applicable

During the reporting period, there was no difference between the net profit and net assets in the financial reports disclosed in accordance with foreign accounting standards and Chinese accounting standards.

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6. Non-recurring profit and loss items and amounts

Applicable □Not applicable

Unit: Yuan

Item Amount Description of profits and losses from the disposal of non-current assets (including the write-off of asset impairment provisions) 286,524.90 Government subsidies included in the current profits and losses (closely related to the company’s normal operating business, in compliance with national policies and regulations,

150,139,508.29 (Except for government subsidies that are enjoyed according to determined standards and have a lasting impact on the company’s profits and losses)

In addition to effective hedging business related to the company's normal business operations, non-financial enterprises hold financial assets and

292,206,199.74 Gains and losses from changes in fair value of financial liabilities and gains and losses from the disposal of financial assets and financial liabilities

Reversal of impairment provision for accounts receivable that has been separately tested for impairment 45,915.36 Other non-operating income and expenses other than the above items -8,048,104.04 Other profit and loss items that meet the definition of non-recurring gains and losses 3,525,481.74 Less: Income tax impact 61,178,298.26

Amount of impact on minority shareholders’ equity (after tax) 2,114,056.78 Total 374,863,170.95 Details of other profit and loss items that meet the definition of non-recurring gains and losses:

Applicable □Not applicable

Other profit and loss items that meet the definition of non-recurring profits and losses are mainly tax deductions and tax benefits included in other income.

Explanation on defining the non-recurring profit and loss items listed in the "Explanatory Announcement No. 1 on Information Disclosure of Companies Publicly Offering Securities - Non-recurring Profit and Loss" as recurring profit and loss items

□Applicable Not applicable

The company does not define the non-recurring profit and loss items listed in the "Explanatory Announcement No. 1 on Information Disclosure of Companies that Offer Securities to the Public - Non-recurring Profit and Loss" as recurring profit and loss items.

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Section 3 Management Discussion and Analysis

1. The main business of the company during the reporting period

As the world's leading AI hardware intelligent manufacturing platform, the company relies on its advanced full-stack process manufacturing capabilities such as die-cutting, stamping, CNC, injection molding, MIM, and die-casting to build a comprehensive solution and intelligent manufacturing service system that provides customers with "core components, functional modules, and quality assembly" in many countries and regions around the world, empowering the AI industry from multiple dimensions of end-side AI, physical AI, and AI computing power.

The company's core products are widely used in multiple terminal markets, covering cutting-edge fields such as on-device AI, physical AI, AI computing power, automobiles and low-altitude economy, and comprehensively covering AI mobile phones and folding screen mobile phones, AI glasses and XR wearable devices, AI computers (AI PC), AI data centers (AI DC), robots, automobiles and low-altitude economy and other related hardware products. According to data from research institute Frost & Sullivan, based on revenue in 2025, the company ranks first in the global AI terminal high-precision functional parts industry and third in the global AI terminal high-precision intelligent manufacturing platform.

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(1) Development of each business segment

2026 is the 20th anniversary of the company's establishment, and it is also a critical year for the company to make every effort to move towards the medium- and long-term development goals of 2030. In the first half of 2026, the company faced the profound changes in the global AI+ infrastructure revolution. Focusing on the strategic policy of "doing the right thing, doing things right", the management team continued to delve into the core track of intelligent manufacturing and empower the AI ​​industry from multiple dimensions of device-side AI, physical AI and AI computing power.

The company has made phased progress in new business expansion, product iterative upgrades, corporate governance optimization, and the use of AI tools to reduce costs and increase efficiency, laying a solid foundation for the realization of the medium- and long-term development goals in 2030.

In terms of end-side AI, it has mass-produced and shipped ultra-thin high-performance vapor chambers (TVC) and mid-frame integrated vapor chamber modules to domestic customers, and supplied core precision parts related to new generation terminal products to major North American customers, including hinge precision structural parts, screen support plates, ultra-thin vapor chambers, and ultra-thin stainless steel battery case modules with flanges.

In terms of physical AI, assembly lines at Beijing, Chengdu, Zhengzhou, Dongguan and overseas robot bases have been officially put into production, and humanoid robot core components, joint modules and complete machines have been mass-produced and delivered. The company's influence in the embodied intelligence industry continues to increase. Honor Robot "Lightning" won the championship in the 2026 Beijing Yizhuang Humanoid Robot Half Marathon Competition. The company provides core structural parts, surface treatment and other related products and services for it. The company's embodied intelligent industrial application scenarios have been upgraded again, and multiple varieties of industrial embodied robots have been invested in core production links such as loading and unloading, AOI inspection, and CNC processing. The depth and breadth of applications have been significantly improved.

In terms of AI computing power, server universal redundant power supply (CRPS) related products have been mass-produced and shipped.

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The company's core product matrix

The development status of each business segment of the company is as follows:

(1)AI hardware

As the core segment of the company's business and the cornerstone of building an intelligent AI hardware manufacturing platform, the AI hardware segment focuses on the three cutting-edge directions of AI terminals, robots and enterprise-level servers. The company provides all-round solutions and intelligent manufacturing services from core components, functional modules to high-quality assembly to global industry-leading customers.

1. Device-side AI (AI terminal)

The company's end-side AI segment focuses on the research and development, production, sales and solutions of artificial intelligence technology on the terminal side. The product matrix covers AI mobile phones and folding screen mobile phones, AI glasses and XR wearable devices, AI computers (AI PCs), end-side thermal management (heat dissipation), image display, battery power supply, sensors and related modules, materials, high-quality assembly and other fields.

The main products and services of the company’s AI terminal hardware-related business are as follows:

1.1 Folding screen terminal hardware

In the field of folding screen terminal hardware, the company focuses on providing one-stop hardware manufacturing and solution services to global top customers. The core products include folding screen supports, folding screen hinge modules, vapor chambers, middle frames, die-cut functional parts/structural parts, chargers and other materials made of copper/stainless steel/steel-copper composite/aluminum alloy/titanium, etc., which are widely used in double folding screen hands.

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Terminal electronic products such as mobile phones, wide folding screens, three folding screens, folding screen laptops, etc.

The company focuses on the research and development and processing of a variety of advanced materials for different application scenarios to meet performance, lightweight, strength and other requirements. The company’s folding screen terminal hardware milestones:

year event

Folding screen support R&D team established

2019

Developed the first-generation outward-folding folding screen project, completed the construction of the first-generation semi-automatic mass production line, and mass-produced ultra-thin stainless steel stamping

2020 Introduction of ultra-thin stainless steel etching process

In 2021, ultra-thin titanium alloy etching process will be introduced

In 2022, introduce ultra-thin titanium alloy and ultra-thin carbon fiber material production lines

In 2023, the third generation automatic production line and ultra-thin carbon fiber material production line will be introduced, as well as the carbon fiber PVD process and the M40 grade carbon fiber production process. In 2024, the three-fold carbon fiber support plate will be mass-produced and shipped.

Mass production and shipment of PC folding carbon fiber support plates in 2025

Supply core precision parts related to new generation terminal products to major customers in North America, including hinge precision structural parts, screen support plates, ultra-thin vapor chambers and 2026

Ultra-thin stainless steel battery case module with flange, etc.

The company’s representative products in the field of folding screen terminal hardware:

Serial number Representative product Technical highlights Description

As the core structural group of the folding display • According to the different materials of the support plate, it has a variety of bent stainless steel/ultra-thin titanium alloy/carbon parts. The support plate integrates a variety of functional components. The multi-material design can achieve diversified performance, including laser, chemical, and physical fiber support plates.

• Titanium alloy and carbon fiber can significantly reduce assembly costs compared to stainless steel

Light weight and better performance

High-precision hot pressing with fast heat in and heat out

2 Folding screen hinge door panel • First-line fully automated injection molding process, stable yield

Forming

1.2 End-side thermal management products and solutions

The company targets global head technology customers and provides integrated thermal management solutions ranging from vapor chambers (VC) made of multiple materials to AI terminals. The core product matrix covers products of various materials and forms such as stainless steel, composite materials, aviation-grade titanium and 3D dual heat sources, aiming to significantly enhance

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Terminal heat dissipation performance limit. The company's ultra-thin vapor chamber and overall cooling solution have been successfully installed on a number of mid-to-high-end smartphones and have achieved large-scale mass production and shipment. Among them, the stainless steel VC solution significantly reduces weight while ensuring high structural strength and excellent heat dissipation efficiency, and is widely suitable for high-end flagship models.

Milestones for end-side thermal management products and solutions:

year event

The thermal management business department was established, and the R&D team and laboratory were simultaneously constructed.

2019

Ultra-thin VC (vapor chamber) and HP (heat pipe) were successfully developed, and the first mass production line was built. The cooling fins and stamping structural parts were mass-produced. The heat dissipation module product line and the VC (vapor chamber) and HP (heat pipe) production lines were established. Ultra-thin VC (vapor chamber) and HP (heat pipe) were realized in 2020.

mass production

2021. Mass production of ultra-thin stainless steel VC (vapor chamber)

In 2022, aviation-grade titanium vapor chamber (VC) was successfully developed, and stainless steel vapor chamber (VC) delivery increased

In 2023, the loop vapor chamber (LHPVC) will be mass-produced and delivered, and the delivery of stainless steel vapor chamber (VC) will continue to grow.

Mass production and delivery of aviation-grade titanium vapor chamber (VC) in 2024

In 2025, the industry’s first large-scale application of the ultra-thin new working fluid vapor chamber (VC) solution and the ultra-large-area aluminum-based vapor chamber (VC) solution will be realized

In 2026, high heat dissipation performance vapor chambers will be mass-produced, and the delivery of mid-frame integrated vapor chambers will continue to grow.

The company's representative products in the field of thermal management:

Serial number Representative product Description Technical highlights

• Stainless steel vapor chambers have excellent strength. Under the premise of meeting the same performance and size requirements, stainless steel vapor chambers can achieve a significantly higher maintenance performance than traditional copper vapor chambers. Vapor chambers made of new materials can maintain

Lose weight, lose weight

Stainless steel, steel and copper can increase strength while reducing weight and thickness.

• The steel-copper composite vapor chamber is the first to integrate the smartphone midboard and vapor chamber with 1 composite material and aviation grade, used in high-end smartphones and other AI

A vapor chamber design based on a single component. The integrated solution of vapor chamber and mid-plate using titanium vapor chamber terminals can reduce chip temperature and prevent

solution, significantly improving the overall system heat dissipation performance and structural strength

can fall

• Aviation-grade titanium vapor chamber has ultra-high specific strength and lightweight properties, and is lighter than copper and stainless steel under the same structural design

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Serial number Representative product Description Technical highlights

• Extra large double side wings and surface design provide a wider heat dissipation area and improve the heat dissipation effect. It is used in the flagship machine of domestic head manufacturers.

2 3D dual heat source vapor chamber type, respectively used for system-level chips and cameras • Three-dimensional raised structure to improve heat transfer efficiency

Camera module heat dissipation • Dual-circuit ring pump realizes separate heat dissipation of system-on-chip (SoC) and camera module

hot

As the core component of the vapor chamber module, ultra-thin

The upper and lower cover plates of the vapor chamber adopt new composite materials. • The new composite material takes into account both the ultra-thin structural strength and heat dissipation function.

Material stamping and stretching, vapor chamber heat dissipation improves customer design flexibility

3. Upper and lower cover plates and gold

The special-shaped metal bracket of the module is made of high-precision forging. High-precision forging combined with precision CNC machining provides a bracket with high productivity and reasonable cost.

Pressure combined with precision CNC machining to meet customer functional solutions

For high-precision product requirements

1.3 AI glasses and XR wearable devices

The company is deeply involved in the field of AI glasses and XR wearable devices, covering comprehensive soft functional parts, injection molded parts, cooling solutions, chargers and other core hardware products for smart wearable devices such as AR, VR, MR and AI glasses. It also works closely with terminal brands and is committed to becoming a leading supplier of core hardware and key technologies for smart wearable devices.

The company’s representative products in the field of AI glasses and XR wearable devices:

Serial number Representative product Description Technical highlights

Lightweight AR glasses provide customers with

• Adjustable hinges for a personalized fit

1 AR glasses related products Related product solutions and quality assembly creation

Immersive space interactive experience • Insert injection molding of metal parts increases structural strength

• Rich color options and enhanced visual clarity

High light transmission for VR headsets

2 VR goggles products • Multi-layer film stack design to achieve multi-angle and multi-band high transmittance

• High surface precision to meet strict environmental testing requirements

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Serial number Representative product Description Technical highlights

• Strong and flexible structure suitable for wearable applications

The company’s XR components have entered the core customer base

Supplier sequence, production and sales of such products • Advanced manufacturing technology, including hot and cold pressing of flexible materials 3 XR components

Sales matters have established good cooperation with customers. Integrated molding technology, automatic edge wrapping and multi-layer bonding, special-shaped molding and self-developed thermal cutting technology, and 5-axis laser cutting and dispensing systems

• Adaptive coupling design method and waterproof and dustproof design 4 XR wireless charging module Wireless charging module for XR devices

• Low power standby and coil selection logic

• Meets multiple Class A appearance requirements

5 Wireless headphone shaft Precision shaft for wireless headphone casing

• Achieve stable and smooth opening, closing and rotation

1.4 Other terminal-side AI products:

The company continues to expand its diversified product layout in other end-side AI hardware fields, covering key areas such as image display, battery power, sensors and materials. In terms of materials, the company is driven by innovation and provides one-stop high-precision solutions from research and development to mass production, including carbon fiber composite materials, protective films, foam materials, tapes and magnetic materials, significantly improving the performance, reliability and miniaturization level of AI terminals. In the field of AI terminal power supply, the company focuses on a highly reliable, high-efficiency, and long-lasting battery power management system. It uses advanced power management technology to meet the needs of AI hardware for high-power, continuous and stable power supply, providing strong power for the ultimate experience. In addition, the company also lays out core components such as sensors and related modules, imaging and display to fully support the perception, interaction and presentation capabilities of end-side AI devices.

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2. Physics AI (Robotics)

The company's strategic positioning of robots is to become a "three-in-one" global head-embodied intelligent hardware manufacturer. First, create a global, full-process, full-stack service capability from core components to the assembly of the entire machine body; second, focus on the R&D and design of core components and assemblies; third, provide complete industrial application scenario development for robots.

The company provides a full range of embodied intelligent product solutions for terminal manufacturers, including CNC processing, 3D printing, metal powder injection molding technology (MIM), and die-casting manufacturing services covering full-body structural parts. It focuses on core components such as joint modules, high-power charging, heat dissipation modules, and dexterous hands, as well as body assembly services. Through collaborative cooperation both internally and externally and upstream and downstream of the supply chain, the company actively promotes the innovation and application of robotics technology and contributes new solutions and products to the development of the industry to meet the growing market demand for high-performance robotic products. Up to now, the company has completed thousands of sets of hardware/machine assembly services for a number of head-embodied intelligence companies, and provided application development and machine assembly services for a variety of robots.

The company’s robotics business development milestones are as follows:

year event

Developed Delta robots "Ikaruga", "Little Q", "Pony", "Double D", "Qiaoshou", "Dasheng" and servo drive integrated controller "Dasheng"; 2009-2019

The reducer prototype LRV-20E obtained the national invention patent.

2020 Participated in the development and shipment of Hanson humanoid robot "Sophia"

In 2022, develop the integrated drive and control controller "Desheng" and the 6-axis "Ikaruga" robot

Developed the six-degree-of-freedom magnetic levitation planar motor "Qiangqiang" and the bionic dual-arm robot "Youjia"

2023.

Cooperate with domestic leading customers of humanoid robots for research and development, deepen cooperation with Hanson humanoid robots, and cooperate with overseas customers for research and development of humanoid robots for mass production.

In 2024, develop the "Youjia" wearable teaching pendant, absolute linear magnetic grating reading head, and hollow absolute photoelectric encoder

At the first World Humanoid Robot Games, "Linglong" won the first place in the "Mixing and Sorting Skills Competition" and "Material Handling Skills Competition", and "Panshi" won the third place in the "Material Sorting Skills Competition"

Signed a strategic cooperation agreement with Beijing Humanoid to build a complete assembly and key parts production line for humanoid and embodied robots. Signed strategic cooperation agreements with Qiannao Technology, Stardust Intelligence, Jiutian Innovation, Aoyi Technology, Haohai Starry Sky, Zhejiang Xiantong, and AIRS.

2025

Established a joint venture with Zhiyuan Robot Company, Lingzhi Innovation, to establish the first embodied intelligent production line of Lingyi Intelligent Manufacturing × Zhiyuan Robot

New generation robot assembly production lines including Dongguan Tianxin Robot Base, Chengdu Robot Base, Beijing Robot Base, and Overseas Robot Base have been launched.

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Completed thousands of humanoid (embodied) robot hardware/machine assembly services

The robot assembly production line bases in Beijing, Chengdu, Zhengzhou and overseas robot bases were officially put into operation, and mass production and delivery of humanoid robot core components, joint modules, complete machines and other products were launched.

In 2026, Honor Robot "Lightning" won the championship in the 2026 Beijing Yizhuang Humanoid Robot Half Marathon Competition. The company provided core structural parts, surface treatment and other related products and services for it.

The company's embodied intelligent industrial application scenarios have been upgraded again, and multiple varieties of industrial embodied robots have been invested in core production links such as loading and unloading, AOI appearance inspection, and CNC processing. The depth and breadth of application have been significantly improved.

The company's main products and technical reserves of humanoid robots are as follows (some products are not listed due to confidentiality agreements signed with customers):

Preface

Representative products Product introduction Technical highlights

• Lightweight design

A variety of flagship products are provided for humanoid robots

1 Joint Module • High durability and impact resistance

Full motion coverage

• Deeply customized bearings

Humanoid robot end effector, oriented to precision manufacturing • Lightweight, high-degree-of-freedom imitation of human hand design for precision manufacturing loading and unloading, product testing, packaging

2 • High finger control precision and long service life, enabling dexterous hand assembly, precision assembly and other scenarios to achieve humanoid

Humanized manual operation • Standardized interface compatible with mainstream humanoid robots and collaborative robots

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Preface

Representative products Product introduction Technical highlights

No.

• Protection: anti-impact, waterproof, anti-corrosion, electromagnetic shielding

• Flexibility: hinged, pleated or elastic materials at joints ensure movement

degrees of freedom.

• Lightweight: reduction through structural optimization (e.g. honeycomb structure) and lightweight materials

load.

Humanoid robot suit carbon fiber support + medical grade silicone lamination layer

Clothes + breathable mesh fabric • Bionic shape: imitates the human form

• Modular design: Damaged parts can be quickly replaced or functional modules can be upgraded.

• Thermoplastic polyurethane (TPU) and silicone have good elasticity and wear resistance, and are used for closing

Nodal sheath or bionic skin base

• Fits the curves of the human body, is lightweight, washable and sterilizable, and integrates myoelectric sensing

device.

• Ensure stable performance

4 Cooling module Cooling system for AI processor and joints • Double vapor chamber and hot spot integrated design

• Improved cooling efficiency

Wireless fast charging enables long-lasting operation of the robot, with long-term charging freedom.

Module life and high power charging efficiency

• High safety (isolation, no wear, waterproof)

3. AI computing power related hardware

The company acquired Dongguan Readore Electronic Technology Co., Ltd. (Readore) in January 2026. Its main business includes server liquid cooling quick-disconnect connectors (UQD), liquid cooling manifolds (Manifold), and single-phase liquid cooling modules (server liquid cooling plate Liquid Cooling Plate and optical module cold plate), phase change liquid cooling modules, server vapor chambers (VC and 3DVC) and other thermal management core hardware products, as well as busbars (Busbar), etc. As the core supplier of leading computing power customers in North America, Readore continues to deliver server liquid cooling and power supply related products in batches to leading overseas computing power industry companies and their supply chain related partners, related server foundries, power supply solution companies and other customers.

The company’s AI computing power server-related hardware business development milestones are as follows:

year event

In 2019, the server cooling business department was established, and the R&D team and laboratory were simultaneously built.

2020 Establish a cooling module product line

In 2024, the multi-axis cavity cooling element (Big MAC) will be successfully developed

In 2025, bulk supply of cooling module related products to AMD

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Acquired Dongguan Readore, a core supplier to the leading customer in the North American computing power industry, and quickly entered the field of server liquid cooling and power supply. High-end server liquid cooling and power supply products such as liquid cooling plate (Liquid Cooling Plate), liquid cooling quick connector (UQD/MQD), liquid cooling manifold (Manifold), busbar (busbar) and other high-end server liquid cooling and power supply products continued to be shipped.

In 2026, server universal redundant power supply (CRPS) related products will be mass-produced and shipped.

3.1 AI server liquid cooling and other cooling hardware

The company’s main products of AI server liquid cooling and other cooling hardware are as follows:

Serial number Representative product Description Technical highlights

• Through internal flow channel design and precision machining, the 2700W-liquid cooling plate is in direct contact with the GPU/CPU and realizes heat exchange. 3100W TDP heat dissipation capacity, with low thermal resistance and high heat exchange efficiency1 (Liquid Cooling exchange, and cooperates with the liquid cooling distribution system and quick connectors

efficiency characteristics, providing a stable and efficient direct Plate for high-density AI servers) to complete heat dissipation

Touch cooling solution

• Adopts optimized flow channel design, with high flow rate and low pressure loss.

now. Adapted to international leading customer series cold plates and Manifold liquid circuits, specially designed for high-density liquid cooling systems of high computing power servers

Liquid-cooled quick connector platform. Among them, MQD manual locking plug and pull is simple and reliable. It has 2-made core connection components and provides straight plug and curved plug.

(UQD/MQD) Fool-proof design enables high cooling connection density

Plug-in, Mini and other structural forms

• MQDB can realize blind insertion through the guide mechanism, supporting a certain range

Internal axial and radial misalignment compensation enables efficient hot swapping

• Adopts modular integrated manifold design, with precision blind plug quick-connect tray internal water distributor

The core liquid distribution unit in the tray realizes cooling and internal flow channel optimization, achieving even flow of multiple GPU/CPU cold plates3 (Inner

Liquid is accurately distributed in the tray, evenly distributed and hot-swappable for operation and maintenance, with low thermal resistance, low pressure drop, Manifold)

Features such as zero leakage greatly simplify deployment and maintenance.

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Serial number Representative product Description Technical highlights

• The product adopts a dual-channel parallel architecture to achieve accurate and balanced distribution of traffic throughout the rack; it is equipped with a high-density blind plug quick-connect array to support rack water distributors and establishes cooling with each server through liquid cooling pipelines.

Computing trays can be hot-swapped in minutes, greatly simplifying deployment and operation and maintenance. 4 (Rack loop connection, realizing "trunk-branch" through QD

It has redundant sealing and zero leakage guarantee, low flow resistance, reliable Manifold) and quick connection.

It has high performance and can effectively reduce system power consumption and optimize data center PUE. It is a key infrastructure for large-scale AI liquid cooling deployment.

Designed for the heat dissipation requirements of high-speed optical communication modules

• Adopt high thermal conductivity metal substrate and optimized internal flow channel design, through liquid cooling components, through the key development of the optical module

Through precision machining and sealing technology, efficient heat exchange and direct contact with the hot area of the liquid cooling plate of the light-stabilizing module are achieved, achieving high-speed optical module

5 (Optical Module efficiently exports heat. The product can be applied to AI services to determine liquid flow distribution. The product has good thermal resistance control capabilities and Cold Plate). In servers, switches and high-speed optical communication equipment, the reliable sealing performance can effectively reduce the operating temperature of the optical module and ensure that the optical module operates in high bandwidth and high power density environments.

Improve system stability and long-term operation reliability of communication equipment. Stable operation under the environment

3.2 AI server power hardware

The company's main products and technical reserves of AI server power hardware are as follows:

Serial number Representative product Description Technical highlights

• Using high-purity copper as the base material, it has many products that are specially designed for large current meter solutions in server power systems. It has excellent conductivity and high-current carrying power busbar power transmission and distribution, and is used for high-power electrical capabilities. Through precision stamping, bending and surface coating work sources, power distribution units and various load equipment

(Busbar) technology, effectively reduces contact resistance and power loss, improves equipment, and achieves high efficiency and low loss of power

(Including soft copper row, gold plating, conductive stability and oxidation resistance. Soft copper row structure has transmission. Products are widely used in AI services

Copper row, etc.)

The processor, high-power computing server and data center have good flexible compensation capabilities, which can adapt to equipment thermal expansion, power supply system expansion and assembly tolerance changes, ensuring long-term reliable operation of the system.

• Adopts compact mechanical structure and high-density integrated design to achieve higher power density and significantly save installation space

• Through advanced topology and device optimization, significantly reduce energy module power supply (DC loss and heat load

The power module is a power management module with

2 module) includes an isolated converter for AIDC line communication, suitable for ultra- • Built-in power management bus digital control interface, supports real-time power intermediate

grade computers and high-performance servers.

Monitoring, configuration and system management; input/output fully isolated bus converter (IBC) design enhances electrical safety and anti-interference capabilities

• Supports parallel operation, facilitates flexible power expansion and redundancy backup, and provides efficient, intelligent, and scalable power solutions for systems with high reliability and high power requirements.

• The products cover two mainstream DC buses, 54V and 12V, with power ranges from 800W to 5500W. They all use the company’s standard CRPS (universal redundant power supply) products.

Compact CRPS hot-swappable form factor, supports N+1 or N+N redundant server universal redundant power supply, product line for data center, high-performance services

3 architecture. A full range of AC and high-voltage DC mixers (CRPS), storage and communication systems with a wide range of

Combined input, high conversion efficiency, strict voltage regulation, efficient and reliable front-end power supply solution

, forced air cooling and high reliability, and has obtained major global safety certifications to meet the needs of cost-sensitive edge applications.

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Different needs from equipment to high-density core IT infrastructure

• Used in high-precision stamping, bending and surface treatment processes for structural support and manufacturing in server systems, with excellent structural strength and dimensional stability. Electromagnetic shielding and auxiliary function implementation, including

Other functional parts and structural parts By optimizing structural design and material selection, we can achieve good electromagnetic shielding parts, structural fixing parts, and installation

4 and other products (including the electromagnetic shielding performance and system compatibility of the electromagnetic screen, effectively reducing the bracket, etc., for the internal electronic system of the server

shield, etc.)

Provide stable structural support and electromagnetic compatibility against electromagnetic interference (EMI), ensure stable operation of server systems, and support customized designs for a variety of server platforms

demand

(2) Automobiles and low-altitude economy

Through the acquisition of Zhejiang Xianglong and Jiangsu Keda, the company has comprehensively accelerated its strategic layout in the field of automotive parts, built a diversified product cluster covering automotive transmission systems, interior and exterior trim parts and new energy battery core components, and established its core position in the automotive industry chain. The company's main customers in the automobile segment include new energy and fuel vehicle manufacturers such as Volkswagen, Toyota, Great Wall, BYD, NIO, Leapmotor, GAC, FAW, Chery, Ideal, Geely, JAC, as well as leading global terrain vehicle brands such as Bombardier and Polaris.

The company's related products in the low-altitude economic field include carbon fiber aircraft rotating blades and high-power charging systems.

The company’s automotive and low-altitude economic business development milestones are as follows:

year event

Acquisition of Zhejiang Jintai in 2021 to enter the new energy track

Passed the supplier certification of many leading automobile manufacturers around the world, and signed a "Nomination Agreement" with important German customers

2023

Vietnam factory achieves mass production of automobile-related products

The company's automobile steering motor-related products were delivered in batches to overseas leading customers, successfully entering their supply chain.

2024

The company began to deliver injection molded structural parts, plant protection machine carbon fiber blade products, etc. in batches to leading customers in the low-altitude economy industry.

Acquired first-tier automobile transmission system suppliers (tier-1) Zhejiang Xianglong and Jiangsu Keda to comprehensively accelerate the battle in the field of auto parts by 2025

strategic layout to build a diversified product cluster covering automotive transmission systems, interior and exterior trim parts and new energy battery core components

In 2026, the scale, proportion and profitability of automobile-related income will steadily increase

The company’s main products related to automobiles and low-altitude economy are as follows:

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(2) Introduction to the company’s core technology and manufacturing processes

The company has been deeply involved in the field of CNC and automation for many years, and has built a digital intelligent manufacturing system that is deeply integrated with "AI + automation + industrial robots", fully empowering the entire production process of precision intelligent manufacturing. With self-developed multi-category, multi-functional CNC and automation equipment, the company is committed to building an intelligent, modern smart factory with international competitiveness in terms of equipment precision, operating efficiency and intelligence.

1. Core manufacturing process

As an AI hardware manufacturing platform, the company firmly believes that technological innovation and lean production are the core driving forces for high efficiency and sustainable development. With its profound accumulation in mold development, automation equipment, surface treatment, material science and other fields, the company has deeply integrated cutting-edge lean and intelligent manufacturing technologies and successfully built an industry-leading intelligent manufacturing system. The company's multiple business sectors have achieved efficient implementation and rapid replication, promoting multi-level and in-depth collaboration among various business units, forming a large-scale competitive advantage and ecosystem.

The following is an introduction to some core manufacturing processes:

1.1 Robots empower automated production lines

The company continues to pay attention to the innovation and upgrading of cutting-edge technologies related to robots, and applies the research and development of artificial intelligence and robots to overall industrial solutions for automated production. Combined with independently developed multi-type and multi-functional CNC and automation equipment, it is committed to building an intelligent production workshop with internationally advanced technology and equipment and leading domestically, and creating an efficient modern smart factory.

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The company uses self-developed control systems and robot products to continuously improve the automation of production lines. Since 2006, it has been engaged in the research and development and manufacturing of automation equipment in the field of consumer electronics. Since 2009, its self-developed automation technology has begun to serve the production lines of major customers, and continues to promote the iterative upgrade of industrial robot technology.

At present, the company's industrial robot technology has fully empowered intelligent manufacturing automation production lines: in the field of industrial controllers, the self-developed intelligent controller has the advantages of high integration of drive and control, graphical programming, excellent servo drive performance and fully closed-loop precision positioning. It supports Scara, Delta, six-axis industrial robots and high-end CNC machine tools and other models. It is deeply optimized based on the open source Linux system and integrates PLC and motion control modules with independent intellectual property rights. The size of the electric control box is reduced to that of traditional solutions. Less than one tenth; in the field of automated logistics, AGV can realize fully automatic loading and unloading and long-distance transportation to any site, seamlessly connect to OMS/WMS systems, and operate 24 hours a day, significantly improving OEE output stability and effectively saving labor costs; in the field of precision placement and welding, the clever hand placement solution uses a flip-chip four-axis manipulator and CCD vision; the robot welding solution solves the problem of manual operation of precision parts such as copper sheets and shrapnel; the automatic welding and swinging machine uses a linear small Q robot to cooperate with the turntable

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Achieve flexible distance change, strong flexibility, and high line change efficiency; in the field of display precision assembly, the automatic display support production line covers the entire process of stacking and slicing, appearance inspection, precision lamination, waste removal, and lamination, and overcomes multiple bottlenecks in appearance inspection and precision lamination technology. The automatic folding screen support production line adopts a modular and fully automatic design, giving full play to the advantages of high flexibility and high precision of the robot, effectively coping with various incoming material forms and complex process requirements, and significantly improving production efficiency and product quality consistency.

1.2 AI smart warehouse and logistics system

Each business department of the company promotes the implementation of intelligent logistics projects and comprehensively promotes the automation and system integration of warehousing and logistics links. The company has achieved data interconnection and automatic task scheduling in the factory by connecting the enterprise resource planning system (SAP: Systems, Applications and Products in Data Processing), warehouse management system (WMS: Warehouse Management System), manufacturing execution system (MES: Manufacturing Execution System) and robot scheduling system (RCS: Robot Control System). The system can automatically create and post picking lists, replacing the original manual order placing and approval process. At the hardware level, the automatic sorting of panels after they leave the warehouse is realized by adding a palletizing machine, and deploying AGVs to seamlessly connect with the automated warehouse to complete the automatic removal and transportation of raw materials, significantly reducing labor costs. In addition, water level control and unified scheduling are implemented through MES to automatically call for materials. Materials are accurately pulled in stamping, cleaning, assembly and other links. Jacking AGVs and roller AGVs are introduced to open up the automatic distribution process from assembly to packaging. At the same time, the docking between MES and RCS and the development of the industrial handheld terminal (PDA: Personal Digital Assistant) program were completed, enabling point-to-point automatic distribution of raw materials triggered by AGV through PDA scanning.

The company's intelligent warehouse system can realize real-time monitoring of storage location usage status, and automatically detect material specifications to intelligently allocate optimal storage locations. The warehouse adopts highly flexible designed shelves to ensure the storage adaptability of various stamping materials (such as molds, coils, and parts)

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and maximize space utilization. The system integrates multiple AGVs to perform automated handling tasks between the storage area and the production line. AGV can be seamlessly connected with shelves and loading and unloading equipment, and with the assistance of manipulators and stackers, it can complete the fully automatic transfer of raw materials to the line or finished products to the storage location.

The entire process realizes one-click automatic storage and withdrawal, and completes intelligent turnover and precise access of materials without human intervention, thus significantly improving operation accuracy and efficiency and saving a large amount of storage area and related manpower investment.

1.3 Intelligent AOI appearance inspection system and fully automatic product inspection feedback adjustment system

The company's automatic adjustment system technology is mature and has independent hardware and software patents. The intelligent AOI appearance inspection system introduces the contour method based on AI deep learning for part edge inspection. It reduces the Escape/Overkill ratio through training on its own product data set, achieves 0% missed detection of target functional defects, and realizes the No Touch process. At the same time, the company has designed and developed a unique detection light source illumination system. It designs customized detection light sources and lighting solutions for different products, and verifies them with different filters, dark field microscopes, angles, colors and other lighting methods, which can meet the detection needs of products with complex shapes, different materials and reflective conditions.

The fully automatic CCD and AOI product detection feedback adjustment system realizes real-time feedback adjustment of production. The real-time feedback adjustment mechanism based on the PID algorithm makes real-time adjustments to the production system during the production process based on the CCD and AOI detection results to achieve real-time control of production errors. This system has been widely used in the production of key functional products, products with complex structures and strict requirements for trimming dimensions, ensuring high-precision production while saving a lot of manpower for subsequent inspections.

1.4 High-precision liquid cooling product core manufacturing process and full-process inspection system

The company's Liminda division has made in-depth deployment in the field of liquid cooling and heat dissipation. Focusing on the four core capabilities of micron-level manufacturing, zero-leakage sealing, full-dimensional testing and industry certification barriers, it has built a one-stop liquid cooling product mass production system from raw materials to finished products.

In terms of manufacturing, we rely on high-precision CNC shovel equipment to achieve integrated cutting and molding of micro-channels. The tooth height, tooth pitch, and wall thickness of the flow channels all reach micron-level control, which solves the risk of leakage and uneven flow channels of traditional spliced cold plates. It also cooperates with precision plane finishing to ensure that the cold plates are in perfect contact with the CPU and GPU.

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The flatness of the fit greatly reduces the contact thermal resistance.

In terms of sealing, it integrates a variety of precision welding processes such as vacuum brazing, diffusion welding, laser welding, argon arc welding and high-frequency welding, respectively corresponding to different power levels and material requirements, to achieve high-pressure, leakage-proof, and corrosion-resistant scene coverage.

In terms of testing, a full-dimensional quality inspection system from semi-finished products to finished products has been established. In addition to conventional air tightness and pressure resistance tests, helium mass spectrometry is used to detect leaks and superimposed with 24-hour nitrogen pressure holding verification. Industrial imaging (CT and DR) are simultaneously introduced to the full inspection process to non-destructively identify defects in the internal flow channel structure and raw materials to ensure that each product meets the strict standards of the server industry.

At present, Liminda has obtained international certifications such as CNAS laboratory certification and Intel UQD Alliance certification, which indicates that the company's R&D and quality control capabilities in the field of liquid cooling have been recognized by international leading customers, providing high-performance and high-reliability thermal management products for the stable operation of high-computing power and high-density data centers.

1.5 Die-cutting one-line production line body

The company's die-cutting processing equipment can use a variety of different materials at the same time to produce complex products. Through technological innovation on the die-cutting production line, production efficiency has been greatly improved.

(1) Overcutting process: Overcutting is the simultaneous use of waste materials originally produced in the production of large-sized products to produce small-sized products. In terms of wire design, the same material can be cut into two shapes, thereby maximizing material utilization. In this process, higher requirements are put forward for quality control synchronization.

(2) Non-stop material changing module: Traditional die-cutting equipment must be stopped when each roll of material is used up and replaced with new material, resulting in a low utilization rate of the entire die-cutting industry. The company has developed and implemented non-stop refueling technology for raw materials, waste materials and finished products. This breakthrough technology significantly increases utilization rates.

Conventional die-cutting manufacturing processes will produce waste resin raw materials, but after the company applies recycling granulation technology, the original waste materials can be reused according to the process of "plastic film waste - crushing - granulation - film drawing".

1.6 Unmanned green anode production line

The company's CNC workshop is equipped with automatic guided vehicles (AGVs) and robots to manage the production rhythm in an orderly manner. The AGV automatically implements CNC clamping work and takes out the processed products from the machine through data signal guidance. The AGV will also replace new tools and recycle old tools. Fixture loading and unloading and tool replacement are all carried out accurately under the production management system, greatly improving equipment utilization rate. In addition, the CNC smart workshop is also equipped with a one-click measurement laboratory. In the early stage, each inspection machine will be equipped with an operator to measure parts. The upgraded one-click measurement technology can use AGV to replace the operator for automatic clamping, improving the utilization rate of inspection equipment. After the inspection is completed, the data can be automatically transmitted to the production management system, and the data can be automatically analyzed and the processing parameters automatically compensated, which greatly shortens the debugging time of the machine and saves technical resources.

The company's fully automated anodizing production line enables real-time monitoring of formulations and recycling of chemicals and wastewater. The anodizing production workshop has a large

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A large number of automated guided vehicles (AGVs) are running simultaneously, which can minimize human contact with products. The AGV automatically docks with the loading and unloading equipment when transporting products between production lines. With the cooperation of the robot, the anodized products are transported from the anodizing line to the automatic loading and unloading line. The entire anode production process has realized automated loading and unloading and automated turnover, ensuring higher product quality without manual intervention.

1.7 High-speed precision stamping technology

Stamping speed has always been a technical challenge in the stamping process. High-speed precision stamping technology is a stamping production process that combines stamping speed with high precision and is extremely efficient. High-speed precision stamping is a combination of equipment, mold processing, mold design, intelligent control and other technologies. It can effectively reduce the amount of mold development and is suitable for mass production of precision parts. It can best fully reflect the technical level and software and hardware strength of a modern manufacturing enterprise.

The company's high-speed stamping technology is more than 10 times faster than ordinary punch machines. Its stability relies on professional mold design, mold processing and a complete maintenance system. In order to match the high-speed stamping, the company has also developed a high-speed packaging machine. It integrates automated optical inspection of size and appearance, and simultaneously introduces non-stop material changing technology. High-speed stamping and high-speed packaging can increase production efficiency by more than 10%. The company has fully applied high-speed precision stamping technology in AI hardware, automotive parts, etc., which has the advantages of using one person and multiple machines to reduce costs and improve efficiency. 1.8 Stamping continuous flow production line body

The stamping continuous flow production line is an efficient production method with a high degree of automation and centralized production sites. It is widely used in the field of small stamping continuous mold parts and products that require welding or assembly. It mainly combines strip stamping, cleaning, welding, testing, blanking and other processes to connect operations, and the AOI and pendulum packaging processes are completed in the same area. The connection stations can be added or removed according to the product process. The company uses continuous molding tape to connect all processes, including stamping, cleaning, welding, inspection and packaging.

Typical technological innovations include:

(1) Circulation cleaning system: Water and cleaning fluid are needed to clean products during the stamping production process. The company developed a circulating cleaning system to save water. A red pipe is used to collect used wastewater and centrally transport it to the central treatment system. After filtering, another blue pipe will re-inject it back into the cleaning machine. In addition, the three-layer vertical cleaning machine can increase cleaning efficiency by 3 times and save equipment floor space. By introducing this circulating cleaning system, a total of 70% of water, 60% of cleaning fluid and 30% of floor space can be saved.

(2) Modular welding equipment: Each generation of stamping products will have new features and new requirements for automation, so the versatility of automation equipment is crucial. Modular welding equipment enables the sharing of equipment between different production processes. When the line body needs to be switched from product A to product B, only part of the device needs to be replaced. This design can shorten the line switching time by more than 30% and improve the line utilization rate.

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Reduce equipment investment. The company has extended the modular design concept to related equipment for other processes such as inspection and packaging, which will help further improve the standardization level of the line body.

The stamping one-piece flow has a high degree of automation, fewer operators, and a higher degree of product consistency. The process flow is carried out online through AOI inspection and packaging, without intermediate warehousing and logistics processes. Effective feedback and control of product quality, flexible addition and deletion of work stations, and effective reduction of product costs.

(3) Industry status

The company adheres to technological innovation as its core engine, with excellent product quality, stable operating system, efficient operating system and excellent capital market image. It has long-term cultivation and accumulation in multiple key fields, steadily consolidates its leading position in the industry, fulfills its mission with practical actions, and continues to drive the industry to develop in a high-quality direction.

According to data from research institute Frost & Sullivan, based on revenue in 2025, the company ranks first in the global AI terminal high-precision functional parts industry and third in the global AI terminal high-precision intelligent manufacturing platform.

Global AI terminal high-precision functional parts industry revenue ranking in 2025

Ranking Company Name Revenue (USD Millions) Market Share

1 The Company 2,616.6 7.0% 2 Company E 630.0 1.7% 3 Company F 258.0 0.7% 4 Company G 154.0 0.4%

5 Company H 79.0 0.2%

Data sources: Annual reports of listed companies, Frost & Sullivan interviews with industry experts, Frost & Sullivan

Remarks:

1. Company E is a company listed on the Shenzhen Stock Exchange. It was established in 1993 and focuses on high-precision functional parts and electromagnetic shielding materials.

The R&D and manufacturing of thermal conductive materials are widely used in AI terminals and communications fields.

2. Company F is a company listed on the Shenzhen Stock Exchange. It was established in 1999 and mainly provides precision functional parts and precision structures for AI terminals.

parts and modules.

3. Company G is a company listed on the Shenzhen Stock Exchange. It was established in 2016. Its main products are precision functional parts and intelligent automation equipment.

Deeply cultivate applications such as AI terminals, automobiles and new energy.

4. Company H is a company listed on the Shenzhen Stock Exchange. It was established in 2004 and is mainly engaged in the research and development, production and sales of AI terminal functional parts and structural parts, optical components and wearable components.

The main honors and awards received by the company in the first half of 2026 are as follows:

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Ranked 1 in Fortune China's Top 500 Lingyi Intelligent Manufacturing Fortune Chinese Network

List category

Shenzhen Stock Exchange and Sina Finance

2 Shenzhen Listed Companies ESG Practice English Case Award Lingyi Zhizhi Makes ESG

joint release

3 Top 100 ESG Enterprises in China in 2025 Lingyi Intelligent Manufacturing Sina Finance Financial Media 4 The 7th Corporate ESG Gold Responsibility Award "Best Environmental Responsibility Award" Lingyi Intelligent Manufacturing Sina Finance Financial Media 5 Excellence in Capital Market Communication Award Lingyi Intelligent Manufacturing The 9th China Excellence in IR Financial Media 6 2026 Technology Innovation Gold Award Lingyi Intelligent Manufacturing Hong Kong Institution of Engineers Industry Awards 7 2026 Partner Conference Zhiqi New Chapter Award Lingyi Intelligent Manufacturing Zhiyuan Robot Customer Award 8 Best Listed Company Lingyi Intelligent Manufacturing 2025 New Fortune Magazine Financial Media 9 ESG Best Practice Company Lingyi Intelligent Manufacturing 2025 New Fortune Magazine Financial Media 10 Lenovo "Excellent Service Award" Lingyi Intelligent Manufacturing Lenovo Customer Award 11 Chinese Listed Company Brand Value List·Guangdong-Hong Kong-Macao Greater Bay Area TOP100 Lingyi Intelligent Manufacturing Daily Economic News Financial Media 12 Brand Value List of Chinese Listed Companies·Global Influence TOP100 Lingyi Intelligent Manufacturing Daily Economic News Financial Media 13 Server Liquid Cooling Supplier Outstanding Contribution Award Lingyi Intelligent Manufacturing AI Liquid Cooling Summit Industry Awards 14 The 12th Capek Award "2025 Valuable Brand Award" Lingyi Intelligent Manufacturing Capek Award Committee Industry Awards 15 Gelonghui Intelligent Manufacturing Award Lingyi Intelligent Manufacturing Gelonghui Financial Media 16 Corporate Social Responsibility·Leading Enterprise Lingyi Intelligent Manufacturing Golden Bee Financial Media 17 Outstanding Cases of Female Influence in the 2026 "520 Social Responsibility Day" Lingyi Intelligent Manufacturing SynTao Financial Media 18 ESG New Benchmark Enterprise Award "Overseas ESG Compliance Benchmark Award" Lingyi Intelligent Manufacturing Securities Star Financial Media 19 The 8th China Excellent Management Company Project "China Excellent Management Company" Lingyi Intelligent Manufacturing Deloitte Financial Media

2. Company management system

Focusing on organizational innovation and upgrading, the "four circles" principle is coordinated and linked: in the face of fierce market competition, reducing operating costs and improving innovation capabilities

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Strength is the main driving factor for the sustainable development of enterprises. The company adheres to the work policy of "doing the right thing, doing things right" and has built a "four-circle" collaborative mechanism consisting of four core sectors: business (BD), research and development (R&D), operations, and functions. The four-circle collaborative linkage supports the company's high-quality development.

Core Circle (Business BD): Adhere to the "customer first" concept, closely follow the company's strategy, accurately select high-value tracks and high-quality customers, and establish the direction of strategic attack.

Innovation Circle (R&D): Closely focusing on customer needs and industry trends, leading product iterations with forward-looking technology layout, and building a technology moat.

Execution Circle (Operations): Undertake business and R&D needs and implement all-round implementation; focus on yield improvement, efficiency optimization and cost control to maximize manufacturing value.

Support Circle (Function): Respond to the needs of the entire link, provide strategic guidance, resource guarantee and system construction, and provide solid backing for the efficient operation of the first three circles.

The four circles support each other and collaborate dynamically to jointly promote the company to achieve dual breakthroughs in cost and capabilities in a complex environment.

(1) Production system

The company has always adhered to the spirit of craftsmanship, placed refined production and quality control at the core, strictly controlled all aspects of the production process, and set industry benchmarks in quality, technology, technology and other fields. The company attaches great importance to R&D investment, introduces advanced automation equipment and advanced technology, and continuously breaks through the innovative capabilities of precision mold design, new material application and manufacturing process.

Faced with the high quality requirements for products from internationally renowned AI terminal brands and their supply chains, the company adopts a "make-to-order" model and dynamically formulates production plans based on customer forecast demand to ensure efficient response and accurate delivery.

The company has built a comprehensive digital and intelligent operation and production system, through automated production equipment and parts batch control systems.

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(Traceability), AI optical vision inspection (AOI), centralized monitoring system for order materials and ERP, manufacturing execution system (MES) and warehouse management system (WMS), with the help of multi-dimensional analysis of AI large models, the factory management system is standardized and transparent, significantly improving quality, efficiency and cost reduction. In addition, the company pays close attention to the innovation of cutting-edge technologies related to robots, integrates artificial intelligence and robot research and development into automated production solutions, and combines independently developed numerical control and automation equipment. It is committed to building an internationally advanced and domestically leading intelligent production workshop and building an efficient and modern smart factory.

(2) R&D system

1. Three-level linkage R&D system

The company's research and development directions cover product industrial design and performance development, precision module design and manufacturing technology, as well as automation and intelligent application technology. The company's R&D system consists of a three-level systematic R&D platform of the Industrial Research Institute, BG Technology Center and BU Product Development Center.

ITRI ​​focuses on researching the future development trends of the industry, focusing on areas such as innovative materials, simulation, heat dissipation, energy conservation and emission reduction, and reserves cutting-edge technologies through industry-university-research cooperation to provide future product guidance for business units. The company has established a global R&D system, relies on its technical advantages to deeply participate in the early design and R&D of customers, and provides customized solutions. In response to customers' new product needs, the R&D department starts the research and development process. After successful sample trial production, it is recognized by customers and formulates SOP (standard operating procedures) and SIP (standard inspection procedures) to promote mass production.

2. Lean digital intelligence empowerment

The company has established a lean department and an IE center to promote the transformation and upgrading of the manufacturing model from traditional lean to lean, digital, automated and green. The Lean Department provides technical support for lean and digital applications in production. In order to promote the core concept of lean production of the group, the Lean Department provides employees with the latest production technology and lean concept training through practical teaching and lean guidance, and combines IT digitization to realize benefit data visualization. In the process of lean implementation and empowerment, a large number of lean trainees are trained every year and numerous training sessions are held to benefit a large number of trainees. The IE center organizes lean activities of each BG/BU, implements "lean forward" and "cause engineering" systems, optimizes pre-production processes, explores equipment efficiency, and reduces production costs. In the first half of 2026, the company coordinated to promote lean manufacturing and achieved positive results in the implementation of improvement proposals for all employees, the advancement of implemented improvement projects, and the proportion of improvement amounts in output value. Among them, the improvement and implementation of Lean manufacturing CTQ has achieved significant results in saving man-hours and materials, the overall yield rate and utilization rate have steadily increased, equipment utilization and energy conservation and emission reduction have made outstanding contributions, and the overall lean management level has been systematically enhanced.

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(3) Procurement system

The company purchases production-related raw materials, machinery and equipment, molds, fixtures and other production auxiliary materials on its own. Some suppliers are designated by end customers or selected within the scope recommended by them, while the rest are strictly screened by the company's procurement, quality and other relevant departments. The Purchasing Department is responsible for supplier certification assessment, material pricing and delivery time arrangements, etc.

The company's procurement process is as follows:

1. Based on customer sales forecasts and production plans, the PMC department decomposes raw material requirements based on inventory status, generates material requirements plans, and promotes them to the purchasing department for execution.

2. After the purchase order is issued, the purchasing department dynamically tracks the order execution status through the ERP system and adjusts the purchase order according to the production plan.

3. After the materials arrive, quality inspection personnel will randomly inspect the materials to decide whether to accept them, and enter the random inspection results into the supplier evaluation system. Qualified products are handed over to the warehousing department and then entered into the warehouse for backup.

In order to practice the concept of sustainable development, the company has in-depth cooperation with suppliers to jointly formulate a series of internal management systems such as "Supplier Management Procedures", "Procurement Control Procedures" and "Green Product Management Procedures" to standardize the supply chain management process. At the same time, the company further optimizes its supplier management methods and requires suppliers to actively fulfill social and environmental responsibilities during production and operation. The company has formulated the "Green Product Hazardous Substance Control Standards" to provide the company and suppliers with a unified environmental management basis for products, raw materials, components, semi-finished products, finished products, packaging materials and auxiliary materials, and effectively reduce the impact of products on the ecosystem.

(4) Sales system

The company sells products directly to customers, and the Commerce Department (including business, product management and customer service departments) is responsible for developing new customers and obtaining product orders.

For key projects, the company has established a special project team to track customer needs in real time and communicate in depth with customers in multiple aspects such as R&D, procurement and production. When customers put forward procurement requirements, the project team quickly organizes R&D, production, procurement and other departments to conduct technical and overall project feasibility assessments and prepare quotations. After the customer accepts the quotation and the sample is verified to be qualified, the company will comprehensively consider factors such as production capacity, price, quality and delivery time to determine the order quantity.

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In addition, the company equips each end customer brand with a Customer Focus Team (CFT) system. Each CFT is composed of key members of the product management, engineering, quality and operations teams to provide a one-stop service for the designated end customer brand and its suppliers, ensuring efficient communication and precise service. CFT is formed when a customer initiates a new project, which typically lasts several years and covers the entire lifecycle of a product from design to volume production. During this period, CFT concentrated and coordinated resources to provide customers with full-process services from product design, sampling, mass production to quality control.

(5) Quality management system

The company adheres to the quality management policy of "customer satisfaction as the center, quality first as the focus; technological innovation as the core, and continuous improvement as the perseverance". In order to ensure independence and management efficiency, the company has established a quality center directly under the group headquarters to coordinate quality management work and provide customers with reliable product quality and service quality.

The company continues to improve its multi-dimensional management system, covering international standards such as ISO9001, ISO14001, ISO45001, IATF16949, QC080000, ISO27001, ISO50001, ISO14064-1, and ISO14067. Quality, environment and occupational health and safety management systems have been fully established and effectively operated in all production bases; quality management and hazardous substances management system certifications in the automotive industry have also been widely promoted; information security, energy management and dual-carbon related system certifications have been steadily implemented in major factories; at the same time, multiple production bases have successfully passed the VDA6.3 audit of automotive customers. The breadth and depth of the company's management system certification continue to expand, and standardized governance capabilities continue to increase. The company formulated the "Quality, HSPM Manual" and "EHS Management Manual" based on the above management system, and accurately identified the improvement needs and opportunities of the quality management system through internal and external audits, QCC, Six Sigma, quality lean meetings and management reviews to ensure that the system continues to be appropriate, sufficient and effective.

3. Industry conditions of the company during the reporting period

(1) AI hardware (related to client-side AI, physical AI and AI computing power)

AI hardware mainly refers to intelligent hardware that integrates artificial intelligence technology and has intelligent interaction and perception capabilities, specifically including core components of end-side AI (candy/folding screen mobile phones and PCs, smart wearables and other AI terminal devices), physical AI (robots) and AI computing power (AI servers). Through high-performance computing platforms, intelligent operating systems and multi-modal interaction methods, these core AI hardware promote the innovation of human-computer interaction experience and accelerate the popularization of AI technology in daily life and industrial applications.

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The AI hardware high-precision intelligent manufacturing platform industry refers to an integrated manufacturing system that is oriented to AI terminals, enterprise-level commercial servers and intelligent robots, and integrates advanced intelligent manufacturing processes (precision processing technology, rapid prototyping technology, automatic control technology) and digital technology. Enterprises in this industry focus on the R&D, design, production and processing of high-precision hardware, and build efficient, stable and scalable manufacturing systems through automated production, intelligent quality control and flexible production scheduling, which can support the needs of downstream products in terms of lightweight, durability, thermal management and multi-functional integration. These high-precision hardware are key supports for promoting the development of core AI hardware.

1. Device-side AI related industries

Innovative AI-driven equipment leads the value reconstruction of the AI terminal industry. The device-side AI market has shown a mild recovery recently. Innovative categories represented by folding screen devices, AI glasses, and XR devices are becoming the core driving force for industry growth, and are also driving the continued evolution of high-precision hardware-related technologies. The core value of manufacturers is shifting from cost and efficiency competition to forward-looking technology reserves and collaborative innovation capabilities.

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comprehensive competitiveness.

1.1 Overview and development trends of AI mobile phone industry

With the continued development of generative AI technology, the mobile phone industry has ushered in a new stage of AI technology empowerment. Since the breakthrough progress of large-scale language models in 2023, global mobile phone manufacturers have adopted AI capabilities as the core driving force for product innovation, pushing the industry into a new technological change cycle. The smartphone market has entered the stage of stock competition, and AI capabilities have become the core driver of differentiation. AI mobile phone innovation is no longer limited to computing power improvements and adding functions, but touches the bottom layer of the operating system. The large end-side model is deeply integrated with the mobile operating system to achieve seamless service flow across applications with AI Agent as the core. With its built-in artificial intelligence functions and cutting-edge technologies such as machine learning, deep learning, natural language processing and computer vision, AI mobile phones can accurately analyze user behavior patterns, thereby providing personalized services and intelligent suggestions. It can realize functions such as automatic performance optimization, intelligent voice interaction and efficient image recognition, greatly improving the intelligent and humanized experience of the device. According to research firm Counterpoint Research, generative AI mobile phones will account for 45% of global smartphone shipments in 2026, with shipments expected to exceed 500 million units. The penetration rate of AI mobile phones will further increase to 52% in 2027.

1.2 Folding screen mobile phone industry overview and development trends

Folding screen mobile phones are a high-end innovative category in the field of smartphones, effectively balancing the core contradiction between large-screen experience and device portability. With screen support layers, hinges, and flexible display modules as core components, foldable screen mobile phones have become a new growth point and important development opportunity in the current smartphone market with their high technical threshold and high value-added attributes. Related products continue to make breakthroughs in thinness, durability, performance release, and interactive experience, and the products are deeply optimized around real user usage scenarios. By integrating flexible display screens, multi-axis hinges and screen support layers, foldable screen devices realize screen folding functions, and at the same time put forward new technical requirements for structural components such as screen supports, hinge structural parts, rotating modules and lightweight high-strength materials. The high-precision components of folding screen equipment are complex in design and difficult to assemble, and require extremely high manufacturing accuracy. Therefore, the gradual popularity of folding screen equipment will continue to promote the growth of companies with precision hinge processing, CNC, stamping, MIM processing technology and automated assembly capabilities.

2026 is regarded as the key year for "crease-free" folding screens. Double-sided ultra-thin flexible glass (UTG) technology is expected to be popularized. Ultra-thin glass is used in both the inner and outer layers, and the creases are almost invisible. The thin and light body and the increasing number of internal components have promoted the upgrade of the body structure and manufacturing process. 3D printing, MIM, liquid metal and other processes are expected to further penetrate into the manufacturing field of folding screen mobile phone parts. Taken together, the future competition of foldable screen mobile phones will focus on system adaptation, ecological synergy and in-depth optimization of detailed experience. According to the latest global folding screen smartphone market forecast released by research organization Counterpoint Research, global folding screen smartphone shipments are expected to increase by 21% year-on-year in 2026. Thanks to consumers' continued demand for high-end wide folding devices and increasingly fierce product competition among leading smartphone manufacturers, the folding screen market is expected to continue to expand based on 2025.

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1.3 AI Computer (AI PC) Industry Overview and Development Trends

As AI large models continue to develop, computer (PC) terminals will be able to provide more proactive, more personalized, and more intelligent services, becoming the core driving force for multi-scenario switching, software and hardware coordination, and multi-terminal connections. AI technology will evolve from traditional auxiliary tools to a virtual hub connecting users, large models and hardware ecosystems, building an intelligent interaction bridge. It can flexibly allocate resources according to user needs, provide customized services, broaden application boundaries, and turn PCs into multi-scenario smart terminals, bringing users a more intelligent and personalized experience.

AI PCs (AI PCs) refer to desktops and laptops equipped with chips or modules specifically designed to handle AI workloads (such as NPUs). AI computers are not a simple superposition of AI technology and traditional computers, but through the deep integration and innovation of hardware and software, they have completed an all-round intelligent transformation from the underlying architecture to the application experience. In terms of hardware configuration, AI computers are usually equipped with high-performance chips with powerful computing power, such as processors with integrated neural processing units (NPUs), coupled with powerful graphics processing units (GPUs) and high-speed, large-capacity storage devices to meet the AI ​​algorithm’s requirements for high-speed data processing and storage. According to relevant research reports from Goldman Sachs, global AI PC shipments will reach 150 million units in 2026, a year-on-year increase of 39%. The global market penetration rate will reach 59%, and penetration will continue to accelerate. By 2028, AI PCs will account for 82% of global PC shipments.

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1.4 AI glasses and XR wearable devices

With the deep integration of AI and XR technology, the XR industry has entered the "fast lane" of development from its infancy, and AI glasses are gradually evolving into the core carrier of a new generation of human-computer interaction. In this process, equipment lightweighting, all-weather wear, and functional integration have become the core of the industry, directly driving upstream functional parts, injection molded parts, cooling solutions, chargers and other core hardware to usher in systemic upgrade opportunities. Lightweight processes for precision functional parts and structural parts, surface treatment innovations for injection molded parts, breakthroughs in active cooling solutions, and convenient upgrades in charging solutions, together form the main line of technology iterations on this track. Suppliers that master core processes and system integration capabilities will continue to benefit during the industrial ramp-up stage.

The rapid development of AI is profoundly promoting the innovation of XR equipment. Through technologies such as natural language processing and gesture recognition, AI has greatly improved the interactive experience of XR devices, allowing users to interact with the virtual world in a more natural and intuitive way. At the same time, AI-generated content technology can generate personalized virtual content based on user preferences and behavior patterns, significantly enhancing the personalization and immersion of user experience. The integration of these technologies not only promotes the widespread application of XR devices in gaming, education, medical and other fields, but also provides broad application prospects for smart home, tourism, social networking and other scenarios. According to data from research institute IDC, global XR device shipments will increase by 41.6% in 2025, reaching 14.5 million units, and its compound growth rate from 2025 to 2029 is expected to be 29.3%.

Overview and development trends of the AI ​​smart glasses industry: AI smart glasses combine artificial intelligence technology with traditional glasses, and have functions such as real-time voice interaction, image recognition and navigation, providing a convenient and intelligent experience. With its visual interaction advantages and high compatibility with large AI models, it has become an ideal hardware for AI implementation. With the maturity of device-side AI technology, AI glasses have got rid of the obvious lag caused by early reliance on the cloud, achieving an almost senseless instant interaction effect, and the application experience has achieved a qualitative leap. In addition, AI glasses rely on their all-weather wear characteristics and environmental sensing capabilities. By integrating multiple sensors to capture scenes and needs in real time, they can actively push information. This scenario-based ability to shift from passive response to active service constitutes its unique advantage from other terminals. AI glasses are gradually evolving into the core carrier of a new generation of human-computer interaction.

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2. Overview and development trends of the physics AI (robot) industry

Driven by the continued progress of large-scale AI models, traditional robots are gradually transforming into adaptive machines that can operate in and learn from complex environments, thereby achieving breakthroughs in safety and accuracy. Intelligent robots are rapidly penetrating into industrial, professional services and consumer scenarios with their increasingly realistic perception and interaction capabilities, ergonomically optimized structural design, and natural and smooth movement performance. It is particularly worth noting that the improvements in performance, stability and safety of humanoid robots, coupled with rising global labor costs and the acceleration of industrial automation, have jointly promoted the strong growth of the market.

As technology iteration accelerates, the humanoid robot industry will usher in a critical stage of commercialization in 2026. On the basis of realizing the leap from "0 to 1" to "1 to 10" in 2025, the industry is expected to break through the early bottleneck of scale in 2026 and accelerate towards mass production and widespread commercialization of "10 to 100". The core theme of industry development will shift to "scale mass production and commercialization acceleration." The "Global Humanoid Robot Market Analysis" report released by the research organization IDC pointed out that the global humanoid robot market will grow significantly in 2025, with annual shipments of approximately 18,000 units and sales of approximately US$440 million, a significant year-on-year increase of 508%. During the same period, the cumulative sales orders are expected to exceed 35,000 units, laying the foundation for subsequent deliveries and continued market growth.

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According to investment bank Morgan Stanley, the global installed base of humanoid robots will reach 137 million units by 2040, and the core component market will reach US$780 billion; by 2050, the global installed base of humanoid robots may exceed 1 billion units, and annual market revenue will reach US$7.5 trillion. The global humanoid robot industry is accelerating its evolution from the "broad participation" stage to the "head concentration, echelon differentiation" pattern. According to MARKETS AND MARKETS data, the global humanoid robot market is expected to reach US$5.41 billion in 2026 and will grow to US$50.27 billion by 2035, with a compound annual growth rate (CAGR) of 28.1% from 2026 to 2035.

The humanoid robot industry chain system continues to improve, and the overall system can be divided into three major sectors: upstream core components, midstream body manufacturing, and downstream scenario applications. The upstream includes key hardware such as cameras, bearings, batteries, controllers, lead screws, sensors, motors, and reducers, which is the core foundation that affects the robot's motion performance, control accuracy, perception level, and operational stability; the midstream focuses on the production and manufacturing of the humanoid robot body, involving algorithm models, torso structures, machine integration services, dexterous hands, motion control systems, and joint modules; the downstream covers operations and maintenance services, system integration, subsequent software iterations and upgrades, product sales, and scene deployment and other related links. Industrial development is shifting from the prototype verification stage to the small batch delivery stage, and the division of labor in the industry chain is becoming increasingly clear. However, the development prospects and competitive situation of each segment have shown obvious differences.

In humanoid robots, rotating joints, linear joints and dexterous hands are key components of the execution system, and the demand for high-precision components and functional modules is extremely strong. Since humanoid robots need to achieve balanced walking, precise control and human-computer interaction in complex environments, they have extremely high requirements on the accuracy, consistency and response speed of components. High-precision components can significantly reduce transmission errors, improve control accuracy and dynamic stability, thereby ensuring smooth, safe and reliable movements. With the continuous improvement of robot freedom and structural flexibility, the complexity of system integration has increased. In the future, the reliance on high-precision components and functional modules will be further deepened, and the requirements for accuracy, power density and modular design will also continue to increase. According to research firm Frost & Sullivan, the overall value share of rotary joints, linear joints and dexterous hands is expected to increase from 47.4% in 2024 to 50.0% in 2029.

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From the perspective of core components and functional modules, the high-precision hardware of humanoid robots mainly includes reducers, servo motors, controllers, drivers, planetary roller screws, charging and thermal management modules, etc. These core components play a fundamental role in realizing key functions such as robot motion control, charging and thermal management: the reducer and servo motor determine the accuracy and stability of the robot's motion, the controller and driver ensure the coordination and real-time response of movements, while the charging and thermal management modules ensure system energy efficiency and operational reliability. According to data from research firm Frost & Sullivan, the combined market share of these major core components and functional modules is expected to increase from 36.2% in 2024 to 44.9% in 2029.

3. AI computing industry

The explosion in demand for computing power has driven the growth of enterprise-level commercial servers. With the rapid growth of the demand for large-scale artificial intelligence model training and inference, global computing power demand is rising exponentially, and global AI giants and large cloud service providers are accelerating the deployment of ultra-large-scale, high-power data centers. According to research firm Frost & Sullivan, global data center capital investment is expected to grow from approximately US$450 billion in 2024 to more than US$3 trillion in 2030. The scale of generative AI training and inference has increased the demand for enterprise-level commercial servers, bringing significant impetus to related high-precision hardware such as server cooling and power supply.

With the surge in AI computing power, the cooling requirements of servers have increased significantly, driving the market for high-precision thermal management hardware for enterprise-level commercial servers to grow exponentially. The AI ​​computing power center has higher requirements for the accuracy, thermal management and long-term reliability of core components, which tests the manufacturer's ability in process consistency and yield. According to Frost & Sullivan, the AI ​​server cooling market is expected to maintain strong growth momentum, reaching US$33 billion by 2029, with a compound annual growth rate of 47.1% from 2025. Against the background of increasing data center power density and energy efficiency requirements, liquid cooling solutions are rapidly penetrating, which will further drive the growth in demand for high-precision thermal management hardware and consolidate its strategic position as the core support for sustainable AI infrastructure expansion. Manufacturers that take the lead in deploying related high-precision hardware are expected to seize first-mover advantages in the explosion of the enterprise-level commercial server industry.

3.1 Overview and development trends of AI server liquid cooling industry

Liquid cooling technology is usually divided into two systems based on the contact relationship between the cooling medium and the heat source: indirect contact liquid cooling and direct contact liquid cooling. The former mainly includes single-phase and two-phase cold plate liquid cooling, which uses intermediate heat exchange components to achieve heat transfer, and the cooling medium does not directly contact the heat source. The latter transfers heat through direct contact between the coolant and the heating element, and mainly covers single-phase immersion, two-phase immersion, and spray. In practical applications, cold plate liquid cooling integrates micro-channel enhanced heat exchange technology, showing excellent heat dissipation efficiency, and is the most mature in industrialization. In contrast, immersion and spray liquid cooling have more significant advantages in heat dissipation efficiency and energy efficiency ratio because they realize full liquid encapsulation cooling of the heat source.

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The core components of the liquid cooling system include liquid cooling plates, quick connectors, rack water distributors, etc. The working mechanism of the liquid cooling plate is to tightly fit the sealed metal cold plate with built-in microchannels to the core heating components such as CPU and GPU, allowing the coolant to circulate within the plate and efficiently take away the heat generated by the chip without directly contacting the electronic components. Its core technical barriers are mainly reflected in the structural design of the internal microchannels and the maturity of the precision welding process. The function of quick connectors is to support online hot plugging and quick maintenance of IT equipment such as servers. Its core technical difficulty is to ensure high reliability. At the moment when the joints are connected or disconnected, the internal valves need to open or close in precise synchronization to avoid any leakage of coolant. The function of the rack water distributor is to evenly and stably distribute the coolant delivered by the CDU to each server or each cold plate in the cabinet. Its technical barrier mainly lies in the need to accurately balance the flow resistance of each branch to prevent local overheating or underflow problems due to uneven flow distribution.

Component Installation location Function

1. Responsible for heat exchange and heat transfer between the primary side and the secondary side

2. As an intermediate heat exchange unit, it isolates the liquid-cooled working fluid on the primary side and the secondary side.

Coolant distribution unit Bottom of cabinet or separate

3. Dynamically adjust traffic according to server load and monitor chip temperature in real time to install (CDU) immediately

and liquid cooling flow to ensure that the coolant is distributed as needed

4. Automatically replenish cold liquid, remove impurities, and prevent clogging of cold plate microchannels

Evenly distribute the low-temperature coolant sent from the CDU to the cabinet manifold according to the designed flow rate and place it vertically in the cabinet.

The cold plate of each layer of servers in the server ensures that each GPU/CPU gets a consistent Manifold side

thermal conditions to avoid local overheating

1. Connect the Manifold-piping-liquid cooling plate

Quick connector (UQD) pipe interface 2. Supports hot plugging and can be connected or disconnected under pressure during system operation, which facilitates maintenance.

Liquid cooling plate (Liquid quickly conducts the heat of the heating element into the plate, and uses the liquid cooling medium to keep the heat close to the chip

Cooling Plate) to the remote radiator

The liquid cooling industry is a comprehensive industrial ecosystem with liquid cooling technology as the core driving force, covering the research and development and manufacturing of cooling equipment, system solution integration, and later operation and maintenance. The underlying logic is to use liquid media such as deionized water, alcohol-based solutions, fluorocarbon working fluids, mineral oil/silicone oil, etc. to replace air, and achieve heat transfer through heat exchange and liquid temperature rise or phase change. Thanks to the significant advantages of liquid media in thermal conductivity and specific heat capacity, this technology can effectively break through the heat dissipation bottleneck of traditional air cooling in high power density scenarios, thereby achieving energy efficiency improvement and device design.

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Double optimization of equipment stability. With the exponential growth in the demand for artificial intelligence computing power and the high-density evolution of data center architecture, the liquid cooling industry has become a high-profile high-growth track. For example, the North American computing power leader's leap from a partial liquid-cooled + air-cooled architecture to a fully liquid-cooled architecture is not only a significant increase in computing power, but also a watershed in the transformation of data center infrastructure to fully liquid-cooled. Liquid cooling is no longer a high-end configuration, but a necessary condition for the normal operation of the system. It will fully cover all heating components such as GPU/CPU, switches, optical modules, and power supplies.

3.1.1 Liquid Cooling Plate

The liquid cooling plate realizes heat exchange by contacting the heating element, and is mainly composed of a cold plate base plate, a flow channel cover plate, and a fluid channel. The cold plate substrate is the bottom component of the cold plate and is in direct contact with the heating device through the interface material. The flow channel cover is the top component of the cold plate and is sealed with the substrate to form a closed cavity. The entire cold plate has reserved piping or connecting ports, and the coolant flows through the fluid channel, and heat exchange is achieved through contact with the fluid channel. Cold plates have various design forms and processing techniques, and are mainly divided into stamped cold plates, CNC processed cold plates and round tube cold plates. The internal flow channel of the cold plate can adopt different solutions according to the power of the heating element. The cold plate of low-power components can directly adopt CNC flow channels, metal tube embedded tubes, etc. The cold plate of high-power components mostly adopts the shovel tooth process. Currently, the heat dissipation capabilities of cold plate products can fully cover the TDP (Thermal Design Power) of mainstream chips, leaving a certain margin. Currently, the leading AI servers in North America's computing power are experiencing a leap-forward upgrade in power consumption: the power consumption of mainstream single chips has broken through from the 700W level to more than 1kW, driving the demand for cold plate heat exchange to jump from 3kW to more than 5kW. This quantitative change is triggering a qualitative change in the processing technology of liquid cooling components, thereby reshaping the value distribution pattern of the entire supply chain.

Cold plate liquid cooling schematic diagram

Information source: "White Paper on Liquid Cooling Application Status and Technology Evolution of Intelligent Computing Centers in Asia Pacific"

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3.1.2 Liquid cooling quick connector (UQD/MQD)

Driven by AI computing power, chip power consumption is rising rapidly, and liquid cooling technology is gradually replacing traditional air cooling to meet the cooling needs of servers. As the core interface for efficient heat dissipation in liquid cooling systems, the Universal Quick Disconnect (UQD) is a standardized fluid connector specially designed for liquid cooling systems in data centers and high-performance computing environments. Its process accuracy directly affects the operational safety and energy efficiency of computing centers.

High-flow, high-precision, and corrosion-resistant UQD components are the key foundation for liquid cooling solutions to be implemented on a large scale in large data centers. UQD is used to connect pipes to cold plates, manifolds to racks, allowing for fast and safe flow of coolant. In server liquid cooling systems, UQD needs to achieve "dry disconnection", that is, minimal fluid loss when disconnected, thereby avoiding coolant contamination of sensitive electronic components; at the same time, it needs to meet a long service life to resist fatigue losses caused by high-pressure cycles. UQD can be divided into two categories according to application scenarios: conventional UQD that requires manual plugging and unplugging, and blind plug-in UQDB. The process technology of the two is similar, but there are significant differences in technical requirements such as alignment accuracy.

Schematic diagram of the location of cold plate liquid-cooled blind plug quick connectors

Source: CICC Research Department "Research on Decoupling Issues of Cold Plate Liquid-Cooled Blind Plug Quick Connectors"

3.1.3 Liquid-cooled water distributor (Manifold)

With the explosive growth of artificial intelligence (AI), machine learning (ML) and high-performance computing (HPC), the power density of global data centers is undergoing an unprecedented paradigm shift. Traditional air cooling technology has become insufficient when facing the trend of single cabinet power exceeding 30kW and even evolving to 50kW, 100kW and even 1MW. Against this background, Direct-to-Chip Liquid Cooling technology has become the core means to support the new generation of high-density computing facilities with its heat convection efficiency thousands of times higher than that of air.

In the liquid cooling tiered architecture of modern data centers, the water distributor is at the core of the Technology Cooling System (TCS). It connects to the Cold Distribution Unit (CDU) through pipelines upwards, and connects to the Cold Plate circuit inside the server through Quick Disconnects (QDs) downwards. Liquid cooling hierarchical architecture usually consists of a primary side loop (building side) and a secondary side loop (equipment side). As a key component in the liquid-cooled secondary fluid network (Secondary Fluid Network, SFN),

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The liquid-cooled cabinet water distributor (Manifold) not only undertakes the basic functions of cooling medium distribution and recovery, but also is a precision engineering unit that ensures the long-term reliability of the system, fluid dynamics balance, and convenient operation and maintenance.

The secondary side loop is further refined into three levels: row level, cabinet level and server level. The water distributor plays different roles in these levels.

Level name Core components Main functions

row level row level water separator

Manage the traffic balance between multiple cabinets and serve as the main pipe (Row Level) of the CDU outlet (Row-Based Manifold)

Cabinet level rack water distributor

Evenly distribute the coolant to the servers in each unit in the cabinet (Rack Level) (Rack Manifold)

Server grade internal water distributor

Allocate traffic within the server to multiple cold plates such as CPU and GPU (Server Level) (Inner Manifold)

The water distributor uses a specific pipeline design and structure to evenly and efficiently distribute the coolant through the pipelines to each server or equipment that needs to be cooled, reducing its temperature and ensuring the normal and stable operation of the equipment. The manifold is usually designed to be installed vertically or horizontally according to the cabinet layout, and its internal flow channels are precisely calculated and simulated to achieve the lowest pressure loss and the most uniform flow distribution. The water distributor is the key interface connecting the computer room-level cooling infrastructure and the server-level cold plate. It is the intersection point of the "arteries" (liquid supply) and "veins" (liquid return) of the liquid cooling system. After the coolant is pumped into the liquid supply main pipe through the CDU, it is distributed through several branch nodes to the pipelines connecting the cold plates of each server. After the coolant completes the heat absorption in the cold plate, it flows back through the corresponding node and merges into the liquid return main pipe, and finally returns to the CDU, thus forming a complete closed cycle. This structure is like the shunt-convergence center of the liquid cooling circuit, ensuring that the coolant is accurately distributed to each cold plate as needed, while efficiently collecting the heat-absorbed fluid to ensure the orderly operation of the entire circuit. According to data from precedence research, the global data center liquid cooling water distributor (Manifold) market size will reach US$1.05 billion in 2025 and is expected to grow from US$1.38 billion in 2026 to approximately US$15.99 billion in 2035, with a compound annual growth rate of 31.30% from 2026 to 2035. The market growth is attributed to the increasing popularity of direct liquid cooling technology and rising demand for energy-efficient thermal management solutions for high-density computing infrastructure.

3.2 Overview and development trends of AI server power supply industry

As the power consumption of data center equipment and AI servers continues to increase, AI data centers require more advanced power hardware to support the stable operation of high-power computing loads. The importance of power management in server operations has become increasingly prominent, requiring higher standards for power systems in terms of efficient conversion, compact layout, and heat dissipation optimization. As the core of the data center power supply system, the importance of server power supply continues to escalate with the improvement of AI computing power. AI server power supplies will develop towards higher power density, better energy efficiency ratio, and stronger dynamic response capabilities. With the rise of edge computing and distributed computing, the miniaturization and standardized design of power modules will become particularly important. In addition, the power management system will be deeply integrated with AI algorithms to achieve intelligent prediction, dynamic scheduling and fault warning of power supply, thus providing strong support for the green operation and sustainable development of data centers. Driven by the increase in AI computing power and the trend of thinner and lighter servers, the power requirements for advanced AI will continue to escalate.

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Common Redundant Power Supply (CRPS) industry overview and development trends: Common Redundant Power Supply (CRPS) is a standardized, modular, hot-swappable and highly reliable power module for servers, storage devices and high-performance computing scenarios. CRPS adopts a unified 1U form factor and electrical interface, and supports N+1 or N+N redundant parallel architecture. When a single module fails, the remaining modules can seamlessly take over the load, ensuring that the system continues to run uninterrupted. It also supports hot-swappable replacement, making it easier for data centers to complete operations and maintenance without downtime. It has become one of the mainstream choices for enterprise-class servers and storage systems.

According to market research firm Data Insights Market, with the rapid development of artificial intelligence technology, especially the surge in computing power requirements for large model training and inference, data centers are undergoing a rapid transformation from traditional general-purpose computing architecture to higher density and higher power loads. Compared with traditional general computing servers, the power of a single cabinet of AI servers has increased significantly. Conventional power consumption has jumped from the traditional 10/20kW level to 100kW or even more than 130kW. The power supply power of a single machine has also increased from 1-2kW to the 5-10kW range. The high power consumption requirements of AI are changing the power supply model of data centers, driving simultaneous in-depth changes in the power supply and distribution systems of computer rooms. In this context, the CRPS power supply has been accelerated from an "optional component" to a "standard necessity" - its high power density, redundant fault tolerance and hot-swappable features can accurately match the stringent requirements of high-density GPU clusters for power supply continuity, rapid maintenance and large-scale deployment.

Currently, CRPS is accelerating its evolution in four major directions: First, the power density continues to rise, with single module power rapidly extending from the traditional 0.55kW to 1.6kW to high power segments above 3.2kW, 3.6kW and even 5.5kW to adapt to the power supply requirements of the next generation AI accelerator; second, energy efficiency levels continue to break through, with mainstream products generally reaching 80 PLUS platinum/titanium energy efficiency levels, and conversion efficiency to 97.5% - 98.5% high-level evolution; third, the deep integration of intelligence and modularity, realizing real-time monitoring, remote management and predictive maintenance by integrating digital communication protocols such as PMBus. The new standard of modular CRPS (M-CRPS) is accelerated by the Open Compute Project (OCP), supporting multi-module mixed insertion and cross-vendor compatibility; fourth, liquid cooling compatibility has become inevitable. For ultra-high power density scenarios, CRPS The power supply is forward adapted to the evolution of cold plate and immersed liquid cooling environments, and is designed in conjunction with the liquid cooling system to ensure stable operation under complex thermal envelopes.

Server busbar (Busbar) industry overview and development trends: Busbar is a conductive device used to collect, distribute and transmit large currents in power systems. Compared with traditional wire harnesses, busbars have a more compact structure and can carry greater current under the same cross-section, thereby significantly saving installation space, reducing energy loss and improving heat dissipation performance. The server busbar is a new power distribution system based on modular design. By integrating power transmission, intelligent monitoring and flexible expansion functions, it achieves an efficient upgrade of the data center power supply and distribution system. With the rapid development of artificial intelligence technology, especially the surge in computing power requirements for large model training and inference, data centers are undergoing a rapid transformation from traditional architecture to higher density and higher power loads. Compared with traditional general-purpose servers, the power of single cabinets of AI servers continues to increase significantly. Conventional power consumption has jumped from the traditional 10/20kW level to more than 100/130kW. The high power consumption requirements of AI are changing the power supply model of data centers and driving the computer room power distribution system to simultaneously undergo in-depth changes. Due to its advantages of larger current, more space saving, safer and more reliable, busbar is gradually replacing the application of terminal distribution cables and header cabinets in data centers, becoming a key choice in data center power supply systems.

The rapid development of server busbar systems has provided important support for the upgrade of traditional Tongsuan and AIDC power distribution architectures. The system shows multi-dimensional advantages throughout its life cycle, from improving economics to optimizing operation and maintenance efficiency, from shortening the deployment cycle to improving space energy efficiency, from supporting

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Flexible expansion to promote green and low carbon provides effective support for data centers to cope with urgent challenges such as rising power density and accelerated deployment pace. By integrating intelligent monitoring, precise scheduling, and sustainable design, the busbar system not only accurately matches the power supply needs of the current computing power explosion, but also lays a solid foundation for the future evolution of data centers toward high density, high reliability, and low energy consumption.

(2) Auto parts industry

In 2025, the global automobile industry will move forward steadily amid profound structural changes. As the world's largest automobile producer and consumer market, China's industrial scale and quality have simultaneously improved, providing broad room for growth for industrial chain companies. According to statistics from the China Association of Automobile Manufacturers, my country's automobile production and sales will hit a record high in 2025, with 34.531 million vehicles and 34.4 million vehicles completed respectively, representing year-on-year increases of 10.4% and 9.4% respectively. Production and sales have ranked first in the world for 17 consecutive years. Among them, the leading role of new energy vehicles continues to increase, with annual production and sales exceeding 16 million units. New energy vehicle production and sales have ranked first in the world for 11 consecutive years, marking the electric transformation entering a new stage of large-scale and market-oriented development. As the cornerstone of the industry, the auto parts industry has a development trajectory closely linked to the entire vehicle industry. According to a report by research organization Business Research Insights, the global auto parts market will reach US$1,853.34 billion in 2026, and is expected to increase to US$2,660.79 billion in 2035, with a compound annual growth rate of 4.1% from 2026 to 2035.

The domestic auto parts industry has formed a relatively complete industrial chain system. Parts suppliers are divided into three levels. The first-tier suppliers directly serve the vehicle manufacturers and provide various assemblies for the entire vehicle manufacturers; the second-tier suppliers provide supporting services to the first-tier suppliers and provide key parts or components with higher requirements for the first-tier suppliers; the third-tier suppliers process parts or provide part of the process for the second-tier suppliers, mainly OEM and outsourcing.

1． Automotive transmission system

The transmission system is the core link of automobile power transmission, responsible for transmitting the power output from the engine or electric motor to the driving wheels. It mainly includes drive shafts, transmission shafts, wheel hubs, differentials, clutches and other components, which affect power output efficiency and driving quality.

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Overview of the automobile transmission system industry: As a key component of the automobile transmission system, the drive shaft is an important part of the automobile parts industry. The prosperity of this industry is highly related to the overall trend of the automobile parts industry. In terms of market competition, major manufacturers in the drive shaft industry have established mature product series and standardized production systems, relying on long-term technological accumulation and continuous R&D and innovation capabilities, and have achieved global production networks and market coverage.

Development trend of automobile transmission systems: New energy vehicles bring new development opportunities to the constant velocity drive shaft industry. With the increase in the proportion of front-wheel drive and four-wheel drive vehicles, as well as the rapid development of electrification and hybrid technology, the market's requirements for the core component of the transmission system, namely the constant velocity drive shaft, are also increasing. Modern constant velocity drive shafts must not only transmit power efficiently and smoothly to ensure vehicle driving stability, but also must meet the higher standards for component strength, lightweight and NVH (noise, vibration and harshness) of electric vehicles. This demand is driving continuous innovation in this field in terms of material application, structural design and universal joint technology, and has become an important driving force for the continued growth of the transmission system market. Currently, domestic constant velocity drive shaft manufacturers are taking advantage of the opportunities brought by the changes in the new energy vehicle industry to carry out special research and development based on the characteristics of electric vehicles, accelerating product upgrades and transformation, in order to enhance their market competitiveness and share.

2. Overview of the power battery structural parts industry

As a key component of the power battery system, lithium battery structural components bear multiple functions such as packaging protection, electrical connection, electrical and thermal conductivity, and thermal management. This industry is essentially a technology-intensive field, highly dependent on precise manufacturing processes and multi-link process collaboration, and has strict requirements on product structure fineness and process complexity. Structural parts are mainly divided into two parts: the cover plate and the shell. The cover plate integrates more functional components and the process is more complex, so its technical content and added value are usually much higher than that of the shell. The casing is mostly made of aluminum stamping, which requires a high degree of consistency, dimensional stability and structural reliability, which directly affects the overall safety, performance consistency and production yield of the battery.

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Development trend of power battery structural parts: The continued popularity of new energy vehicles has provided a solid foundation for the demand for lithium batteries. Both the global and Chinese markets have maintained strong growth momentum, and the increasing penetration rate of electric vehicles has directly driven the increase in power battery installations. The lithium battery structural parts industry is closely following the development of new energy vehicles and moving towards a future of technology integration, manufacturing precision and market globalization. As the penetration rate of new energy vehicles continues to increase, the market size of this industry is expected to maintain steady expansion. At the same time, technological evolution shows a clear development trend from single components to highly integrated system solutions to meet the higher requirements of batteries for high safety, high energy density and fast charging performance. At the material and process level, the industry continues to pursue lightweight, high strength and extreme cost reduction, promoting the application of new materials and the continuous improvement of precision manufacturing levels.

4. Core Competitiveness Analysis

(1) The world's leading AI hardware intelligent manufacturing platform empowers the AI industry in multiple dimensions

The company is the world's leading AI hardware intelligent manufacturing platform enterprise. With advanced manufacturing processes and technology accumulation, it has formed an integrated solution platform capability from core materials, precision functional parts, modules to high-quality assembly. Relying on an institutionalized and systematic management system, the company has created a global operating model with leading characteristics, which is efficiently replicated in various business segments and units. It has the ability to provide multi-dimensional AI hardware intelligent manufacturing and efficient product delivery to leading customers in various industries globally.

The market share and shipment volume of the company's related products have been leading the global industry for many years, setting industry standards in quality, process, technology and other aspects. Relying on advanced die-cutting, stamping, CNC, injection molding, MIM, die-casting and other process manufacturing technologies, the company's products are widely used in end-side AI, physical AI, AI computing power, automotive and low-altitude economy industries, and help promote industry innovation and development.

(2) Industry-leading full-stack technology and intelligent manufacturing innovation capabilities

With forward-looking strategic vision, full-stack technology and intelligent manufacturing innovation capabilities, the company has achieved a number of innovative technological breakthroughs from 0 to 1, defined industry standards, comprehensively promoted "one core and four modernizations", taking technology as its core competitiveness and adhering to the manufacturing concept of "lean, automated, digital and green", integrating AI and robots into automated production and core processes, comprehensively improving manufacturing accuracy, operational efficiency and resource utilization levels, and building an efficient and modern smart factory. Facing the rapid iteration and personalized needs brought by AI technology, the company continues to promote the transformation from core process capabilities to overall product capabilities through in-depth integration of material innovation applications, process cutting-edge development and diversified application scenarios.

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Extend and then upgrade to system-level solutions to provide solution capabilities that can be replicated in multiple scenarios. As of June 30, 2026, the company has obtained a total of 2,096 patents, including 561 invention patents, 1,460 utility model patents, and 75 appearance patents.

The company builds an intelligent manufacturing system with AI + robots as the core to achieve the goal of leading the world in intelligent manufacturing:

Intelligent manufacturing: The company’s benchmark production factory in Shenzhen is connected to the AI scheduling system to process massive product images every day. It relies on a huge defect database to realize real-time and flexible adjustments to the production line. It uses AI to accurately predict changes in raw material demand, effectively reducing procurement costs while ensuring the material availability. It also has the ability to continuously upgrade in key links such as manufacturing, handling, testing, and packaging, which can effectively reduce production costs, improve business flexibility, accuracy, and scalability, and maintain efficient operational efficiency and cost control capabilities.

Robot empowerment: The company strives to build an embodied intelligent data asset platform that integrates the entire process of collection, precipitation and application from real machine data, simulation data to Internet data, and realizes the full-link empowerment of industrial scene data assets from perception to intelligence. In terms of application implementation, the company actively promotes the development of application scenarios for embodied intelligent robots, and has built multiple real working scenarios for data collection and real machine training, forming a comprehensive robot layout from industrial to service scenarios. At present, the company has invested in many types of industrial embodied robots in core production links such as loading and unloading, AOI appearance inspection, etc., and the depth and breadth of its application have been significantly improved. This lays the foundation for future intelligent robots with generalization capabilities to participate in manufacturing work.

(3) Deeply bind high-quality customers in the industry to jointly build a long-term and stable strategic customer ecosystem

The company is a hidden champion in the field of precision manufacturing. It has always implemented the "customer-centered" service concept and has established long-term and stable cooperative relationships with leading companies in mainstream end-side AI, physical AI, AI computing power, automotive and low-altitude economy-related industries around the world. Major brand manufacturers have strict standards for supplier certification and only cooperate with suppliers that have passed their certification or have certification from authoritative organizations. The content of the certification is relatively complex, covering multiple aspects such as production capacity, product quality, factory environment and human resources, prompting the company to continue to review and improve its capabilities, relying on full-stack technology from product definition, R&D support to large-scale manufacturing, supply chain management and global delivery to achieve in-depth strategic binding with customers throughout the entire process from concept to mass production.

The company has established a highly sticky and highly synergistic strategic partnership with global leading customers. Through mechanisms such as co-building joint laboratories and sharing R&D resources, the company achieves joint innovation in key areas such as materials, heat dissipation, and structural parts. In order to respond quickly to global customer needs, the company has established localized support centers in Asia, Europe and the Americas to achieve 24-hour cross-time zone collaboration and real-time problem solving mechanisms. Relying on the self-developed digital supply chain platform, the company can comprehensively track customer demand dynamics, continuously optimize production capacity and resource allocation, and ensure efficient collaboration throughout the entire process. We continue to enrich our product portfolio and enhance customer engagement to enhance customer loyalty and deepen strategic partnerships.

(4) Global strategic layout to develop new business growth

The company adheres to the international development strategy of coordinated development in multiple categories and regions, and adheres to localized operations and global delivery to create a business structure with internal and external dual circulation and dual leadership. Through in-depth strategic layout at home and abroad, the company realizes localized management of R&D, production, sales, and delivery, and quickly responds to customer needs around the world. The company is one of the companies with the broadest global presence in the AI ​​hardware high-precision intelligent manufacturing platform.

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The company has built an efficient production and delivery network covering the world, with more than 80 production bases and regional centers in 12 countries around the world. Domestically, the company's production plants are spread across many provinces and cities, ranging from core materials, precision functional parts and modules to high-quality assembly operations. Overseas, the company has established localized production capabilities in major markets around the world. In order to get closer to customers and the market, the company has established special R&D centers, sales branches and delivery centers in major regions around the world to achieve localized operations and rapid delivery, and provide customers with customized overall solutions.

(5) Excellent green smart manufacturing practices define new standards for sustainable development in global industries

The company has always regarded business growth and sustainable development as dual goals of synergy. The company takes "reduce, reuse, and resource" (3R) as its core principles and systematically integrates green concepts into the entire production process. By developing innovative technologies such as nesting cutting processes, roundabout material-saving processes and circulating cleaning systems, the company has significantly improved resource utilization efficiency, achieved water and cleaning fluid savings, and promoted material utilization in key processes.

In terms of green management extension, the company is committed to extending environmental protection responsibilities to the upstream and downstream of the industrial chain, and building a collaborative and symbiotic sustainable development ecosystem. Monitor energy consumption in real time by formulating special management procedures and building an energy Internet of Things (IoT) platform. In terms of supply chain, we have incorporated environmental protection requirements into the supplier assessment system, promoted the use of recycled materials such as recycled aluminum and recycled polycarbonate materials, and led the overall industrial chain to develop green, efficient and high-quality. Facing the future, the company will continue to uphold the concept of long-termism and strive to create broader shared value for partners, the environment and society while pursuing business excellence.

(6) Engineer culture with technological innovation as the core

Talent is the core driving force for enterprise development, and the core of the company is the engineer culture. In recent years, the company has opened up the ranking system and promotion channels for technical personnel, tilting reward, training and welfare resources towards technical talents to ensure that key talents play a key role in key technical positions. The company regularly conducts technical job inventories and draws hierarchical learning maps. By establishing talent training standards, it organically combines job capabilities, career paths and learning activities to provide clear guidance for employee growth. At the same time, the company carries out special improvement plans in technical fields such as R&D, engineering, lean, and quality, and opens rapid promotion channels for outstanding young talents to accelerate the growth of outstanding young talents.

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The company encourages engineers to be innovative and bold in trial and error, and integrates engineering culture into organizational management, making it the core competitiveness for responding to market changes, accurately predicting demand, and promoting product and service iterations, and is committed to promoting the company's sustainable and high-quality development with the highest standards. As a learning organization with an international vision and diverse backgrounds, the company relies on its strong learning and self-iteration capabilities to continuously optimize and reform the management system, review past experience and accurately predict changes in market and customer needs, and keenly grasp the direction of industry development to adapt to the ever-changing business environment.

5. Main business analysis

Overview:

1. The company achieved operating income of 25.149 billion yuan in the first half of 2026, a year-on-year increase of 6.45%. The net profit attributable to shareholders of listed companies was 764 million yuan, a year-on-year decrease of 17.88%. The net operating cash inflow was 1.710 billion yuan, a year-on-year increase of 2.20%. The main reasons are: (1) The company continues to increase its investment in research and development of new products and optimizes its product structure by relying on its technological innovation advantages, driving the overall gross profit to increase by 18.07% year-on-year, and the gross profit margin to increase by 1.65 percentage points year-on-year.

(2) Affected by factors such as exchange rate fluctuations, the company's net profit declined year-on-year.

2. The operating conditions of the segmented business segments in the first half of 2026 are as follows:

(1) AI hardware-related business revenue was approximately 20.464 billion yuan, a year-on-year decrease of 1.92%, and gross profit margin increased by 0.58 percentage points year-on-year. Among them, battery power supply (including terminal side and AI computing power server power supply)-related business revenue was 3.928 billion yuan, a year-on-year increase of 12.73%; thermal management (including terminal-side and AI computing power server cooling) related business revenue was 2.92 billion yuan, a year-on-year increase of 43.46%.

(2) The automobile and low-altitude economic business achieved revenue of 3.528 billion yuan, a year-on-year increase of 198.26%, and the gross profit margin increased by approximately 6.25 percentage points year-on-year.

The income of each segment is as follows:

Half-year revenue in 2026 Half-year revenue in 2025

Industry Product type Change ratio (100 million yuan) (100 million yuan)

Image display 40.31 64.00 -37.01% battery power (including terminal and AI computing power

39.28 34.84 12.73% server power supply)

Material 34.63 34.48 0.44% Thermal management (including terminal side and AI computing power service

29.20 20.35 43.46% AI hardware server cooling)

Sensors and related modules 21.11 20.32 3.88% High-quality assembly and related (including end-side and

22.18 19.43 14.16% physical AI robot)

XR wearable 17.94 15.24 17.72%

Subtotal 204.64 208.65 -1.92%

Automobile and low-altitude economy 35.28 11.83 198.26% Others 11.57 15.77 -26.61%

Total 251.49 236.25 6.45%

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Year-on-year changes in major financial data

Unit: Yuan

This reporting period Same period last year Year-on-year increase or decrease Reason for change Operating income 25,149,133,679.37 23,625,285,379.19 6.45%

Operating costs 20,942,668,062.00 20,062,727,354.37 4.39%

Mainly due to employee compensation sales expenses for the current period 257,253,670.72 190,331,699.28 35.16%

Due to the increase in class expenses

Mainly due to employee compensation management expenses in the current period 1,072,874,158.05 810,078,047.64 32.44%

Due to the increase in class expenses

Mainly due to financial expenses of exchange losses in the current period 619,950,788.47 113,471,729.23 446.35%

caused by increase

Mainly because the total profit reduces income tax expenses 122,171,751.72 281,062,254.67 -56.53%

caused by

Mainly due to investment in research and development of employee compensation in the current period 1,444,582,514.37 1,119,616,394.11 29.02%

Cash generated from operating activities due to increase in expenses

1,709,919,094.31 1,673,167,809.40 2.20%

Net flow

Cash generated from investing activities

-4,178,436,092.85 -3,841,399,759.99 -8.77%

Net flow

Cash generated from financing activities mainly comes from the issuance of H shares in the current period

7,862,427,831.09 917,948,828.48 756.52%

Net flow Net cash and cash equivalents due to receipt of raised funds Mainly due to the issuance of H shares in the current period

5,242,752,218.87 -1,236,269,904.87 524.08%

Increase Significant changes in the company's profit composition or profit sources during the reporting period due to receipt of raised funds

□Applicable Not applicable

There were no major changes in the company's profit composition or profit sources during the reporting period.

Operating income composition

Unit: Yuan This reporting period Same period last year

Year-on-year increase or decrease

Amount % of operating income Amount % of operating income

Total operating income 25,149,133,679.37 100% 23,625,285,379.19 100% 6.45% Industry

AI hardware 20,463,843,050.36 81.37% 20,865,347,729.66 88.32% -1.92% Automobile and low-altitude economy 3,527,792,857.90 14.03% 1,182,777,596.65 5.01% 198.26% Others 1,157,497,771.11 4.60% 1,577,160,052.88 6.67% -26.61% products

AI hardware 20,463,843,050.36 81.37% 20,865,347,729.66 88.32% -1.92% Automobile and low-altitude economy 3,527,792,857.90 14.03% 1,182,777,596.65 5.01% 198.26% Others 1,157,497,771.11 4.60% 1,577,160,052.88 6.67% -26.61% by region

Domestic sales 8,054,516,057.62 32.03% 6,093,772,724.75 25.79% 32.18% Overseas sales 17,094,617,621.75 67.97% 17,531,512,654.44 74.21% -2.49% Industry, product or region accounting for more than 10% of the company's operating revenue or operating profit

Applicable □Not applicable

Unit: Yuan Operating income compared to the previous year Operating cost compared to the previous year Gross profit margin compared to the previous year’s operating income Operating cost Gross profit margin

Increase/decrease over the same period of the year Increase/decrease over the same period of the year Increase/decrease over the same period of the year

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By industry

20,463,843,050 16,888,160,635 Increased by 0.58% AI hardware 17.47% -1.92% -2.62%

.36 .87 Point vehicles and low-altitude economics 3,527,792,857. 3,030,915,273. An increase of 6.25 percent

14.08% 198.26% 178.02%

Economy 90 96 point products

20,463,843,050 16,888,160,635 Increased by 0.58% AI hardware 17.47% -1.92% -2.62%

.36 .87 Point vehicles and low-altitude economics 3,527,792,857. 3,030,915,273. An increase of 6.25 percent

14.08% 198.26% 178.02%

Economic 90 96 points divided into regions

8,054,516,057. 6,980,241,729. Domestic sales increased by 3.33% 13.34% 32.18% 27.29%

62 77 points

17,094,617,621 13,962,426,332 Overseas sales increased by 1.48% 18.32% -2.49% -4.23%

.75 .23 If the statistical caliber of the company's main business data is adjusted during the reporting period, the company's main business data for the most recent period will be adjusted based on the caliber at the end of the reporting period.

□Applicable Not applicable

6. Analysis of non-main business

Applicable □Not applicable

Unit: Yuan

Whether it has a sustainable amount, its proportion to total profits, and an explanation of the reasons for its formation.

sex

Mainly investments obtained from the disposal of trading financial assets

Investment income 241,191,638.80 26.82% No

income

Gains and losses from changes in fair value 72,084,302.83 8.02% Mainly due to changes in fair value of the company’s derivatives investments No

Asset impairment -359,661,330.40 -40.00% Mainly due to inventory depreciation provisions accrued in the current period No

Mainly covers claims, liquidated damages and amounts that do not need to be paid

Non-operating income 5,584,274.24 0.62% No

Etc. income

Mainly due to losses and fines due to damage and scrapping of non-current assets

Non-operating expenses 18,374,343.29 2.04% No

Liquidated damages, etc.

Credit impairment loss 68,940,094.22 7.67% Mainly due to changes in bad debt provisions for accounts receivable No

Asset disposal income 2,237,547.75 0.25% Mainly due to lease changes and losses from disposal of projects under construction No

Other income 174,770,539.10 19.44% Mainly government subsidies No

7. Analysis of assets and liabilities

1. Major changes in asset composition

Unit: Yuan End of the reporting period End of the previous year

Proportion of total assets Proportion of total assets Increase or decrease in proportion Explanation of significant changes Amount

Example Example

Mainly issued in this issue

Growth 6.81

Monetary funds 11,443,051,056.63 17.49% 6,183,127,578.46 10.68% % of the Bank’s H shares received

The main reason for raising funds is due to the opening of the period.

reduced by 5.31

Accounts receivable 12,080,188,639.49 18.47% 13,769,759,950.12 23.78% Receipts received in the current period

money

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End of this reporting period End of previous year

Proportion of total assets Proportion of total assets Increase or decrease in proportion Explanation of significant changes Amount

Example Example

Contract assets 1,640,067.50 0.00% 80,151.50 0.00% Flat Not applicable

The increase in this period mainly decreased by 0.15

Inventory 8,028,299,134.78 12.27% 7,189,891,213.02 12.42% is business growth and percentage points

Increase in mergers and acquisitions

Decrease 0.07

Investment real estate 266,177,106.67 0.41% 275,232,142.89 0.48% Not applicable

percentage points

Decrease by 0.15

Long-term equity investment 802,129,205.80 1.23% 796,950,944.27 1.38% Not applicable

percentage points

Decrease 1.93

Fixed assets 15,058,523,894.11 23.02% 14,444,823,272.09 24.95% Not applicable

percentage points

Decrease 0.21

Construction in progress 3,094,836,769.63 4.73% 2,859,779,949.07 4.94% Not applicable

percentage points

Increase of 0.02 Mainly due to factory lease right assets 1,574,967,390.41 2.41% 1,386,698,847.81 2.39%

percentage point increase in rent

Mainly due to the new growth of 1.77 in this period

Short-term borrowings 6,278,568,438.67 9.60% 4,531,560,030.93 7.83% Increase in short-term borrowings by percentage points

To

Mainly due to the decrease of 0.08 at the beginning of the period

Contract liabilities 49,918,044.81 0.08% 92,664,384.28 0.16% Contract liabilities in percentage points

The revenue recognized in this period increased by 0.33, mainly due to long-term borrowings in this period 5,077,922,049.67 7.76% 4,299,483,172.84 7.43%

percentage points The increase in term loans increased by 0.01, mainly due to factory lease liabilities 1,267,407,801.05 1.94% 1,116,941,539.44 1.93%

percentage point increase in rent

2. Major overseas assets

□Applicable Not applicable

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3. Assets and liabilities measured at fair value

Applicable □Not applicable

Unit: Yuan included in equity

Fair value for the current period Provision for the current period

Item Opening amount Accumulated fair price Purchase amount in the current period Sales amount in the current period Other changes Impairment of gains and losses from changes in the closing amount

value change

financial assets

1. Trading financial assets (not

1,528,566,877.41 12,140,394.96 1,996,900,000.00 1,426,612,378.74 2,110,994,893.63 (including derivative financial assets)

2. Derivative financial assets 835,532.56 60,860,427.91 0.00 39,523,612.59 22,172,347.88 3. Other equity instrument investments 85,325,212.45 67,918,463.45 18,110,000.00 135,243,677.17 4. Other non-current financial assets 18,126,616.36 -916,520.04 60,000,000.00 77,210,096.32 Subtotal of financial assets 1,632,854,238.78 72,084,302.83 67,918,463.45 2,075,010,000.00 1,466,135,991.33 2,345,621,015.00 Receivables financing 403,378,297.24 -46,118,664.58 357,259,632.66Total of the above 2,036,232,536.02 72,084,302.83 67,918,463.45 2,075,010,000.00 1,466,135,991.33 -46,118,664.58 2,702,880,647.66 Financial liabilities 768,768,308.54 237,980,160.00 7,643,651.55 538,431,800.09 Other changes

Financing of receivables: The Group discounts or endorses transfers of some bank acceptance bills before maturity based on its daily capital management needs. The business model for managing relevant bank acceptance bills includes both the goal of collecting contract cash flow and the goal of selling. Therefore, such bank acceptance bills are classified as financial assets measured at fair value and changes are included in other comprehensive income.

Whether there are any significant changes in the measurement attributes of the company's main assets during the reporting period

□Yes No

4. Restrictions on asset rights as of the end of the reporting period

Item Book value Restriction type Restriction situation

Monetary funds 752,787,924.90 Pledge, property preservation Bank acceptance bill deposit and other deposits, property preservation

Notes receivable 176,043,148.89 Pledge Bank acceptance bills pledged, notes receivable endorsed/discounted, not expired and not derecognized

Fixed assets 614,435,066.72 Mortgage Loan mortgage guarantee

Intangible assets 134,773,878.06 Mortgage, pledge Loan mortgage/pledge guarantee

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Item Book value Restricted type Restricted situation investment real estate 203,184,248.60 Property preservation Property preservation

Other current assets 15,075,292.00 Pledge Issued bank acceptance bills to pledge other non-current assets 10,000,000.00 Pledge Issued bank acceptance bills and pledged total 1,906,299,559.17

Note: As of June 30, 2026, 96.15% of the equity of Zhejiang Xianglong Machinery Co., Ltd., 60% of the equity of Jiangsu Keda Stern Automotive Technology Co., Ltd., and 35% of the equity of Dongguan Liminda Electronic Technology Co., Ltd. held by the Group have been pledged for bank loans.

8. Investment status analysis

1. Overall situation

Applicable □Not applicable

Investment amount during the reporting period (yuan) Investment amount during the same period last year (yuan) Change range

983,110,000.00 0.00 100.00%

2. Major equity investments obtained during the reporting period

□Applicable Not applicable

3. Major non-equity investments ongoing during the reporting period

□Applicable Not applicable

4. Financial asset investment

(1) Securities investment situation

Applicable □Not applicable

Unit: Yuan

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Fairly included in equity in the current period

Securities Securities Securities Initial investment cost Accounting measurement Book price at the beginning of the period Sales amount during the period Book price at the end of the period Accounting calculation Changes in capital value Cumulative fair price Purchase Profit and loss during the reporting period

Type Code Abbreviation This Mode Value Amount Value Account Source

Profit and loss value change amount

Domestic and overseas Jiangshun Fair value Other equity Owned

872965 3,200,000.00 2,176,000.00 -2,438,613.72 832,000.00

Stocks, new materials, measurement, tool investment, domestic and overseas funds, Liwang, fair value, trading funds, self-owned

835692 16,000,000.00 19,744,222.22 573,166.68 4,636,055.56 910,141.83 15,681,333.34

Stocks High-Tech Measurement Financial Assets Funds Domestic and Overseas China Fair Value Trading Funds Owned

600536 189,840.00 185,200.00 4,640.00 189,840.00 16,760.00

Stock Software Measurement Financial assets Total funds 19,389,840.00 -- 22,105,422.22 577,806.68 -2,438,613.72 4,825,895.56 926,901.83 16,513,333.34 -- --

(2) Derivatives investment situation

Applicable □Not applicable

1. Derivative investments for the purpose of hedging during the reporting period

Applicable □Not applicable

Unit: 10,000 yuan

The fair price of the current period is included in the cumulative equity. The investment amount at the end of the period accounts for the company's derivative investment type. Initial investment amount. Amount at the beginning of the period. Amount purchased during the reporting period. Amount sold during the reporting period. Amount at the end of the period.

Gains and losses from changes in value Fair value changes Ratio of net assets at the end of the reporting period Foreign exchange forward 0 0 1,574.94 0 1,132,766.94 1,078,007.32 54,759.62 1.71% Foreign exchange swap 0 0 830.52 0 552,067.39 528,234.08 23,833.31 0.74% foreign exchange options 17,572 17,572 3,680.58 0 979,084.91 198,419.43 798,237.48 24.93% Total 17,572 17,572 6,086.04 0 2,663,919.24 1,804,660.83 876,830.41 27.38% Hedging business during the reporting period

The company complies with the Ministry of Finance's "Accounting Standards for Business Enterprises No. 22 - Recognition and Measurement of Financial Instruments", "Accounting Standards for Business Enterprises No. 24 - Hedge Accounting" and "Accounting Standards for Business Enterprises No. 37 - Financial Instrument Listing Policies and Specific Accounting Principles".

According to the relevant regulations and guidelines of the Financial Report, the foreign exchange derivatives trading business to be carried out shall be calculated accordingly, and relevant items of the balance sheet and profit and loss statement shall be reflected. Rules for the company’s derivatives during the reporting period, and comparison with the previous reporting period

There are no significant changes in accounting policies and specific accounting principles compared with the previous reporting period.

Description of whether significant changes have occurred

Explanation of actual profits and losses during the reporting period: The company’s actual profits and losses from derivatives investment contracts for hedging purposes during the reporting period were RMB 257.9476 million.

In order to avoid the exchange rate and interest rate risks faced in daily operations, the company hedges its actual risk exposures through the operation of financial derivatives. Financial derivatives contract profits and losses explain the hedging effect to a certain extent

The changes in the value of assets or liabilities caused by changes in exchange rates and interest rates are offset, and the overall hedging effect is in line with expectations.

Source of funds for derivatives investment Own funds

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1. Market risks and countermeasures

The difference between the exchange rate and interest rate of the foreign exchange derivatives trading contract and the actual exchange rate and interest rate on the maturity date will generate trading profits and losses; during the duration of the foreign exchange derivatives, revaluation profits and losses will occur in each accounting period, and the cumulative value of the revaluation profits and losses by the maturity date is equal to the trading profits and losses.

The company's foreign exchange derivatives transactions will follow the hedging principle and will not engage in speculative arbitrage transactions.

2. Liquidity risks and countermeasures

Unreasonable purchase arrangements for foreign exchange derivatives may cause liquidity risks for the company's funds. Risk score of derivatives positions during the reporting period

Foreign exchange derivatives are based on the company's foreign exchange assets and liabilities, and match actual foreign exchange receipts and payments. Appropriate foreign exchange derivatives are selected in a timely manner, net delivery derivatives are appropriately selected, guarantees and control measures are explained (including but

The certificate has sufficient funds for liquidation at the time of delivery to reduce cash flow needs on the maturity date.

Not limited to market risk, liquidity risk

3. Performance risks and countermeasures

risk, credit risk, operational risk,

Inappropriate selection of counterparties may trigger performance risks when the company purchases foreign exchange derivatives. legal risks, etc.)

The counterparties of the company's foreign exchange derivatives transactions are all banks and financial institutions with good credit and which have established long-term business relationships with the company, so the performance risk is low.

4. Other risks and countermeasures

Changes in relevant laws or violations of relevant legal systems by counterparties may cause the contract to be unable to be executed normally and cause losses to the company. The company will carefully review the terms of contracts signed with qualified banks and financial institutions and strictly implement the risk management system. The company has formulated the "Derivatives Trading Business Management System" to regulate the company's derivatives trading business from aspects such as business operating principles, transaction approval authority, transaction management and operating procedures, internal risk reporting system and risk handling procedures, information disclosure, etc., to protect the legitimate rights and interests of the company and shareholders.

Invested derivatives market during the reporting period

Changes in price or product fair value

The fair value of foreign exchange derivatives is calculated based on the difference between the accounting exchange rate in the month of the delivery date determined by the company and the contract price. The analysis should disclose the specific methods used

and the setting of related assumptions and parameters.

Litigation involvement (if applicable) Not applicable

Announcement of the Board of Directors for Approval of Derivatives Investment

December 06, 2025

Disclosure date (if any)

Announcement of Shareholders Meeting for Approval of Derivatives Investment

December 23, 2025

Disclosure date (if any)

2. Derivative investments for speculative purposes during the reporting period

□Applicable Not applicable

There were no derivative investments for speculative purposes during the reporting period.

5. Usage of raised funds

Applicable □Not applicable

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Applicable □Not applicable

Unit: Ten thousand yuan raised at the end of the reporting period Cumulative changes during the reporting period Two idle

Used in this period Accumulative use Accumulative change use Not yet used Not yet used Total raised funds on securities Net raised funds Use of raised funds Change of purpose Raised funds for more than 10 years

Method of fundraising Use of raised funds Total use of raised funds Year of use of raised funds Amount Amount (1) Proportion (3) = Total funds raised Total amount of funds raised Total amount of funds raised (2) Total amount of funds raised Total amount and destination

(2)/(1) Ratio of total amount of funds The amount of funds is deposited in the company to an unspecified amount.

2024 Fund Raising Special

Object issuance

2024 December 06 213,741.81 211,602.31 19,772.44 152,731.85 72.18% 0 52,682.05 24.90% 58,870.46 accounts and temporary 0 convertible companies

Replenish Current Division Bonds on Days and Hours

funds

Total -- -- 213,741.81 211,602.31 19,772.44 152,731.85 72.18% 0 52,682.05 24.90% 58,870.46 -- 0 Description of the overall use of raised funds:

The company raised a total of RMB 2,137,418,100.00 of funds. After deducting various issuance expenses (excluding value-added tax) of RMB 21,394,999.99, the net amount of funds raised was RMB 2,116,023,100.01. The above-mentioned raised funds will be in place on November 22, 2024. Rongcheng Accounting Firm (Special General Partnership) verified the availability of funds raised this time and issued a "Capital Verification Report" (Rongcheng Yanzi [2024] No. 518Z0130). As of June 30, 2026, the company has invested a total of 1,527,318,501.13 yuan in raised capital projects, including: (1) Before the above-mentioned raised funds are in place, as of November 25, 2024, the company has invested a total of 671,130,327.58 yuan in raised capital projects using self-raised funds. After the raised funds are in place, the company will use the raised funds to replace 671,130,327.58 yuan of self-raised funds that have been invested in the investment projects with raised funds in advance; (2) the amount of the company's direct investment in raised funds projects in 2024 is 78,336,038.55 yuan; (3) the amount of the company's direct investment in raised funds projects in 2025 is 580,127,777.92 yuan; (4) From January to June 2026, the company directly invested 197,724,357.08 yuan in raised capital projects. As of June 30, 2026, the balance of the special account for raised funds was RMB 64,465,372.83. The difference between the due balance of raised funds and the balance of raised funds is 524,239,226.05 yuan, including: (1) idle raised funds of 524,000,000.00 yuan used to temporarily replenish working capital; (2) 795,980.01 yuan of raised funds used for permanent replenishment after project completion; (3) net interest income of 556,753.96 yuan during the storage period of raised funds.

(2) Project status of fund-raising commitments

Applicable □Not applicable

Unit: RMB 10,000. Has the project reached the deadline? Project can raise funds after adjustment. As of the end of the period. This report has reached the deadline.

Commitment investment projects and super-projects on securities. Change items. Investment by the end of the reporting period. Investment by the end of the scheduled reporting period. The activity is the name of the financing project. Commitment investment. Total investment. Cumulative investment. Realization period. Estimated market date. Fund raising investment direction. Nature. Project (including part. Investment amount. Progress (3). Available cumulative actual. Whether the total amount (1) amount (2) has occurred. Benefit score change) = status date. Significant change in effect.

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(2)/(1) period benefit

Commitment to investment projects

Carry out existing product plastic

2024 2027

1. Expansion and production of structural parts in Tianxin Manufacturing

December 06 Yes 47,182.05 16,500 0 15,363.54 93.11% November 25 Not applicable Not applicable Not applicable No construction project New metal structure parts production construction

day day

product line

2. Pinghu Base Construction

Involves power management and conducts research on power products

2024 2027 product expansion project production to further enhance production 86,223.7

December 06 Yes 86,223.76 1,893.09 81,391.18 94.40% November 25 Not applicable Not applicable Not applicable No (formerly: Pinghu Company ODM, FATP construction 6

Japanese manufacturing center construction project and SMT business capabilities

item)

Existing functional parts and structures

3. The expansion of carbon fiber and loose parts categories in 2024 will

Production 74,315.4

Research and development of thermal precision parts December 06 Further improve the company’s performance Yes 26,633.4 17,611.76 32,279.03 43.44% July 05 Not applicable Not applicable Not applicable No

Construction 5

Production Project Day Market Share of Segmented Industry Day

Um

4. Smart wearable devices 2024 Utilizing existing factories 2026

produce

Equipment production line construction December 06 Smart wearable device products Yes 19,920.6 5,781.1 35.66 5,152.76 89.13% November 25 Not applicable Not applicable Not applicable No

construction

Production day of project day

Adding new facilities to the existing factory

5. Precision parts manufacturing process: 2024; advanced intelligent system installation: 2025

produce

Intelligent upgrade project December 06 Prepared to improve the company's production Yes 26,824 16,824 0 16,754.05 99.58% December 26 Not applicable Not applicable Not applicable No

construction

The current level of automation and intelligence of equipment

Improve the Group Headquarters

Management center, covering all

6. Intelligent informatization 2024 2027

Local production and operation branch operation

Platform upgrade and construction December 06 No 6,958 6,958 0 1,201.06 17.26% November 25 Not applicable Not applicable Not applicable No

Organizational information operation body management

Project Japan Japanese department, building the whole group

Industrial Internet system

Comprehensively improve the company’s people

7.Humanoid Robot Level

2024. High-end smart robots and other high-end smartphones. 2027. Research and development of key parts and components.

December 06 Ability to be independent in the manufacturing field No 5,000 231.91 590.23 11.80% July 05 Not applicable Not applicable Not applicable No Machine OEM capacity upgrade project

Japanese R&D and system integration capabilities Japanese-level projects

force

213,741.8 211,602. 152,731.8

Subtotal of committed investment projects -- 19,772.44 -- -- Not applicable Not applicable -- -- 1 31 5

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None

Return of bank loans (if any) -- 0 0 0 0 0.00% -- -- -- -- --Supplementary working capital (if any) -- 0 0 0 0 0.00% -- -- -- -- --Subtotal of investment of excess raised funds -- 0 0 0 0 -- -- 0 0 -- --

213,741.8 211,602. 152,731.8

Total -- 19,772.44 -- -- 0 0 -- --

1 31 5

Sub-project description has not reached the planned progress

degree, expected income and original

Not applicable

Reason (including “whether the expected effect is achieved”)

Reasons for selecting "Not applicable" for "Benefits")

Significant changes in project feasibility

Not applicable

Description of the situation

The amount, purpose and use of excess raised funds

Not applicable

Usage progress

There is any unauthorized change in the use of raised funds.

Not applicable

situation

Place of implementation of investment projects with raised funds

Not applicable

Click on changes

Fund raising investment project implementer

Not applicable

Formula adjustment situation

Raised funds for early investment in investment projects

Not applicable

Entry and replacement status

Applicable

On December 6, 2024, the ninth meeting of the company's sixth board of directors reviewed and approved the "Proposal on Using Part of Idle Raised Funds to Temporarily Supplement Working Capital", agreeing that the company will use idle raised funds of no more than RMB 800 million (inclusive) to temporarily replenish working capital without affecting the construction progress of the investment projects. The use period will not exceed the date of review and approval by the board of directors. Within 12 months, the company promises to promptly return the raised funds to the special account before the expiration date. The sponsor has issued a verification opinion, and the Board of Supervisors has issued a concurring opinion in accordance with relevant regulations. As of November 4, 2025, the company has used idle raised funds to temporarily replenish all the funds previously used to temporarily supplement working capital and returned all the raised funds used for temporary supplementary working capital to the company's relevant special account for raised funds. For details, please refer to the company's "Announcement on the Return of Temporarily Supplementary Working Capital Raised Funds" (announcement number: 2025-184) published on the company's designated information disclosure media on liquidity status and cninfo.com on November 5, 2025.

On November 7, 2025, the company held the 21st meeting of the sixth board of directors and the 15th meeting of the audit committee of the sixth board of directors, and reviewed and approved the "Proposal on Using Part of Idle Raised Funds to Temporarily Supplement Working Capital", agreeing that the company will use idle raised funds not exceeding RMB 600 million (including the original amount) to temporarily supplement working capital without affecting the construction progress of the investment project with raised funds. The use period will not exceed the date of review and approval by the board of directors. Within 12 months, the company promises to promptly return the raised funds to the special account before the expiration date. As of June 30, 2026, idle raised funds were used to temporarily replenish working capital of RMB 524 million.

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On December 26, 2025, the company's "Intelligent Upgrading Project of Precision Parts Manufacturing Process" reached the scheduled usable state. In order to improve the efficiency of the use of raised funds and in accordance with regulatory requirements for the management and use of raised funds, the company will permanently replenish working capital with a total of 792,324.34 yuan of surplus raised funds from the "Precision Parts Process Intelligent Upgrade Project" for the company's daily operations. For details, please refer to the "Announcement on the Closing of Some Fund-raising Projects and the Permanent Replenishment of Working Capital with the Surplus Raised Funds" (Announcement No.: 2025-223), which was published on the company's designated information disclosure media and the cninfo.com website on December 26, 2025, when the company closed the raised funds during project implementation. As of the disclosure date of the remaining amount and reasons of this announcement, the company has completed the payment of permanent supplementary working capital of RMB 795,980.01 of raised funds including bank interest, and the special raised fund accounts opened by China Merchants Bank Co., Ltd. Shenzhen Tairan Jingu Branch and Industrial and Commercial Bank of China Co., Ltd. Shenzhen Fuyong Branch with account numbers 75790000 and 4000******3324 have completed the account cancellation procedures. After the special account for raised funds was cancelled, the "Precision Parts Process Intelligent Upgrading Project" signed by the company and its subsidiary Dongguan Lingjie Metal Precision Manufacturing Technology Co., Ltd., the bank where the raised funds were deposited, and the sponsor signed by Dongguan Lingjie Metal Precision Manufacturing Technology Co., Ltd., which implemented the raised investment project, was terminated.

Use of raised funds that have not yet been used

Not applicable

and destination

Use and disclosure of raised funds

Not applicable

in question or other situation

Note: The difference between the individual sum and the total amount is caused by rounding.

(3) Project changes with raised funds

□Applicable Not applicable

There were no changes in projects with raised funds during the company's reporting period.

9. Sale of major assets and equity

1. Sale of major assets

The company did not sell any major assets during the reporting period.

2. Sale of major equity interests

□Applicable Not applicable

10. Analysis of major holding and participating companies

Applicable □Not applicable

Information about major subsidiaries and joint-stock companies that affect the company's net profit by more than 10%

Unit: Yuan

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Company name Company type Main business Registered capital Total assets Net assets Operating income Operating profit Net profit Shenzhen Linglie CNC Equipment Co., Ltd. Subsidiary Production and sales RMB 200 million 6,546,459,752.99 2,736,345,892.22 2,531,826,069.86 137,030,565.05 122,186,530.23 Dongguan Shengxiang Precision Metal Co., Ltd. Subsidiary Production and sales RMB 240 million 3,158,094,291.96 1,160,644,422.74 2,035,237,939.62 158,196,723.38 142,325,894.24 Suzhou Lingyu Electronic Technology Co., Ltd. Subsidiary Production and sales RMB 769.55 million 2,513,147,869.17 760,810,427.86 940,691,148.88 -117,675,671.71 -95,976,180.37 Lingshengcheng Technology (Jiangsu) Co., Ltd. Subsidiary Production and sales RMB 458 million 4,664,151,841.28 2,004,346,020.91 2,487,441,538.32 207,061,529.96 183,564,248.43 TLG INVESTMENT(HK)LIMITED Subsidiary Trading USD 4.285 million 6,770,242,023.37 1,911,729,921.52 4,036,208,856.41 179,754,105.72 134,773,199.56

investment control

Salcomp Plc subsidiary EUR 9,832,735.12 million 4,631,078,012.28 1,585,604,611.65 2,123,526,860.53 117,214,367.03 111,356,376.96

stocks, trading

Salcomp Technologies India Private

Subsidiaries Production and sales INR 101.5 million 3,565,438,479.64 -1,615,403,406.50 2,695,340,363.91 -290,450,605.99 -288,450,200.47 Limited

662.23721865 yuan

Zhejiang Xianglong Machinery Co., Ltd. Subsidiary Production and Sales 2,261,473,760.87 981,015,773.39 962,809,330.92 107,489,150.11 94,394,452.94

RMB

Acquisition and disposal of subsidiaries during the reporting period

Applicable □Not applicable

Company name Method of acquiring and disposing of subsidiaries during the reporting period Impact on overall production operations and performance Dongguan Liminda Electronic Technology Co., Ltd. Business merger not under common control No significant impact Shanghai Liminda Electronic Technology Co., Ltd. Business merger not under common control No significant impact READORE TECHNOLOGY (HK) LIMITED Business merger not under common control No significant impact Ningbo Longjun Enterprise Management Partnership (Limited Partnership) Asset acquisition in the form of equity No significant impact Beijing Lingyi Robot Co., Ltd. Newly established No significant impact Suzhou Lingchao Robot Intelligent Manufacturing Co., Ltd. New establishment No significant impact Chengdu Lingzhi Innovation Robot Technology Co., Ltd. New establishment No significant impact Zhengzhou Lingzhi Innovation Robot Technology Co., Ltd. New establishment No significant impact Triumph Lead Group (Thailand) Co., Ltd. New establishment No significant impact KOODA STONE (SINGAPORE) PTE. LTD. New establishment No significant impact READORE ITECH (SINGAPORE) PTE. LTD. New establishment No significant impact Kooda Stone Co., Ltd. New establishment No significant impact Ningbo Longsheng Magnesium Technology Co., Ltd. New establishment No significant impact SALCOMP TECHNOLOGY VIETNAM COMPANY LIMITED New establishment No significant impact Chengdu Lingfu New Energy Technology Co., Ltd. Cancellation No significant impact STEELMAG INTERNATIONAL SAS Bankruptcy Liquidation No significant impact Readore Logistics Philippines Inc. New establishment No significant impact

Description of major controlling and joint-stock companies: None

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11. Structured entities controlled by the company

□Applicable Not applicable

12. Risks faced by the company and countermeasures

1. Risk of industry fluctuations

The downstream industry market continues to fluctuate under the influence of various factors. Industry fluctuations may lead to significant changes in the market demand for the company's products, adversely affecting the company's operating performance. Technological changes or the emergence of disruptive innovative products may also cause major changes in the downstream industry structure; consumers' acceptance of new wearable devices and changes in other terminal consumption habits and preferences will also greatly affect the sales and prices of terminal products. In the face of possible industry fluctuation risks, the company will use innovation as the driving force to continuously improve the core competitiveness of its products, actively develop new categories and new businesses, and cultivate new profit growth points.

2. Risk of exchange rate fluctuations

The company's current exchange rate risk mainly comes from foreign currency exposure and exchange rate fluctuations arising from overseas sales, procurement and other operating activities. The exchange rate may be affected by factors such as domestic and foreign political and economic environments, which in turn will have a certain impact on the company's operating performance denominated in local currency. In order to reduce the uncertainty caused by exchange rate fluctuations to the company's operating performance, the company will pay close attention to changes in international foreign exchange market conditions based on its own business development needs and reduce the impact of exchange rate fluctuations on the company by conducting foreign exchange derivatives transactions.

Most of the company's raw material purchases are priced in RMB, while product exports and daily operating currencies of overseas subsidiaries are mainly in US dollars, so exchange rate fluctuations may have an adverse impact on the company. There may be the risk that the company will incur large exchange losses due to significant exchange rate fluctuations in the future. On the premise of ensuring safety and liquidity, the company will use various methods to hedge and reduce exchange rate risks.

3. Risks of international management

As the company's business scale has expanded in recent years, the company needs to face the language environment, legal environment, and business environment of different countries. In response to the differences caused by different cultures, the company will take specific measures in operations management, technology research and development, market development, talent introduction, internal control, etc., strengthen group management and control, and strengthen tracking mechanisms in key management points such as finance and human resources to ensure the company's strategic consistency and reduce the risk of the company's international management.

4. Risks of intensified industry competition

The AI terminal industry is one of the company's main downstream application markets, and market competition is becoming increasingly fierce. If the level of competition further increases in the future, there will be greater downward pressure on product prices, and the company will face greater market competition risks in its subsequent development. The company always pursues excellence and continues to improve processing technology, processing accuracy and assembly capabilities. With precision functional parts as its core business, it continues to extend to the upstream materials field and downstream module and charger fields, and concentrates resources to continuously optimize the company's product structure. The company always pays attention to industry trends, actively deploys related businesses in new fields, continues to vertically integrate the industrial chain, and further optimizes capital allocation and strategic layout.

5. Risks caused by uncertainty in international trade policies

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In recent years, international trade frictions have intensified, and the risk of policy uncertainty has increased. The global market is inevitably affected by this systemic risk. Since some terminal products using the company's products will eventually be exported or sold to domestic and foreign brand customers, the above risks may affect the market demand or price for consumer electronics products, thereby affecting the company's product prices and overall revenue. It may also lead to changes in the geographical distribution of suppliers in the AI ​​terminal hardware industry chain. Terminal brand customers may increase their share of overseas procurement, which will have a certain impact on the company's production and operations.

6. Risks related to investment and mergers and acquisitions

(1) Risk that relevant transactions may be suspended, suspended or canceled

Since the relevant transactions may involve application for review and registration work from relevant regulatory agencies such as the Shenzhen Stock Exchange and the China Securities Regulatory Commission, whether the above work can be successfully completed as scheduled may have a significant impact on the timeline of the transaction. In addition, matters such as possible insider trading, major differences in business negotiations, unforeseen risk events in the underlying assets, etc. may also lead to the suspension, suspension or cancellation of relevant transactions.

(2) Risks of acquisition and integration

After the relevant investment and M&A transactions are completed, the target company will be included in the scope of company management and consolidated statements, and the company will dispatch managers to integrate the target company in terms of organizational structure, management system, business system, corporate culture, etc. If there are differences between the company and the target company in terms of specific products, production operations and management systems, it is uncertain whether the company can maintain the original competitive advantages of the target assets through integration and fully leverage the synergy of mergers and acquisitions after the transaction is completed.

7. Strategic planning risks

Strategic planning risks are risks caused by deviation from the main business, unclear main business, lack of focus, and inappropriate strategies. In view of the continuous changes in factors such as the industry development situation and the company's operating conditions, the company's strategic plan may not be fully realized, and there is also the possibility of making corresponding adjustments to the plan based on market conditions and actual operation and development needs.

The company will continue to pay close attention to changes in the above risk factors, comprehensively assess and actively respond to their impact on the company's financial status, operating results, etc., continuously optimize resource allocation, improve operational efficiency and the ability to respond to emergencies, actively explore new areas and new markets, and ensure effective management of daily business risks. Investors are kindly requested to pay attention to investment risks.

8. Goodwill and asset impairment risk

Based on strategic development needs, the company acquires technology, resources and new markets through mergers and acquisitions, and the goodwill generated in acquisitions will also face the risk of impairment. At the same time, as the company's business scale continues to expand, the company's fixed assets, inventory, accounts receivable and other assets have increased. If there are major changes in the industry in which the company operates in the future, the company will face the risk of goodwill and asset impairment, which will have an adverse impact on the company's financial status and operating results. The company will achieve process improvement through continuous technological innovation, further refine and improve the operation and management system of subsidiaries, strengthen group financial management and control, enhance comprehensive response capabilities, strengthen the operation and management of subsidiaries, improve corporate operating performance, and reduce the risk of impairment of the company's various assets.

9. Accounts receivable recovery risk

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As the company's business scale expands in the future, accounts receivable may increase accordingly. If the company cannot effectively strengthen the management of accounts receivable and improve the efficiency of capital turnover in the future, or the operating conditions of its customers undergo adverse changes, the company will face the risk of difficulty in collecting accounts receivable and the occurrence of bad debts. The company will ensure a reasonable accounts receivable structure, continuously strengthen the management of accounts receivable within the deadline, establish an accounts receivable tracking mechanism, and improve the dynamic management capabilities and comprehensive management level of accounts receivable.

10. Risk of raw material price fluctuations

The raw materials purchased by the company mainly include stainless steel, copper, aluminum, copper foil and other metal materials, as well as various types of tapes, plastics, foams, packaging materials, protective films and electronic components. If raw material prices fluctuate significantly in the future due to fluctuations in the economic cycle, imbalances in market supply and demand, insufficient production capacity of suppliers designated by customers, geopolitical tensions, etc., it will have a greater impact on the company's raw material procurement, which will have a certain adverse impact on the company's profitability. The company will further improve the supply chain system, strengthen strategic cooperation with upstream suppliers, lock in the supply of core raw materials, smooth the impact of price fluctuations, and reduce procurement costs.

11. Risk of brain drain

The company's long-term development cannot be separated from the help of technology and talents. Maintaining the stability of core personnel is the key to the company's survival and development. As competition intensifies, the competition for talents among companies will become more intense. Companies need to continue to build a high-quality professional talent team, especially core technical talent reserves. If it is unable to attract, train and retain sufficient management and technical talents in the future, the company will face the risk of brain drain, and production and operations may be adversely affected. The company will continue to mobilize the enthusiasm of the management team and core backbones, explore and establish a sound long-term incentive and restraint mechanism for the company, cultivate internally and introduce from the outside, retain high-level technical and management talents, ensure the stability and work enthusiasm of the company's core talent team, and provide continuous driving force for the company's long-term development.

12. Risks of large customer dependence

Most terminal product manufacturers around the world have a strict supplier certification system. The certification content is complex, the certification process is rigorous and time-consuming, and regular inspections are required to ensure continued compliance with standards. Therefore, some of the company's products are at risk of high customer concentration. If the operating conditions of some major customers change significantly or the demand for products changes significantly, the company's sales revenue may be adversely affected. On the basis of continuing to deepen cooperation with existing customers, the company will always pay attention to industry trends, actively deploy industries in new fields, continue to invest in technology and R&D, actively develop high-quality customers, and continuously optimize the customer structure.

13. Intellectual property risks

The company attaches great importance to technological innovation and has formed a large number of core technologies with independent intellectual property rights through long-term R&D investment. As the company's globalization strategy advances, the company will face more severe intellectual property risks, including intellectual property disputes and patent infringements. The company's legal and compliance department is responsible for planning and managing the company's innovation achievements and intellectual property rights. By establishing an intellectual property compliance risk control system, it continuously improves the layout of key technologies and product patents, reduces the risk of malicious intellectual property litigation, and avoids the risk of intellectual property leakage by signing confidentiality agreements or prohibiting horizontal competition and other labor contract clauses for key R&D personnel or major confidential personnel.

14. Risks related to investment projects using raised funds

(1) Risks in the implementation of fundraising projects

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The company already has corresponding reserves of technology, talents, patents, materials and equipment. The expected income of the relevant investment projects is estimated based on a cautious and reasonable selection of reference indicators and economic variables. However, with the continuous development of the company's business, the requirements for technological updates and product development have gradually increased, and accordingly the requirements for technology, talents, patents, materials and equipment required for product production have also increased. If the upgrade of the company's corresponding reserves cannot meet the production needs of the new products planned for the relevant investment projects, there will be new product development risks such as failure in research and development of the relevant new products, obstruction of the research and development process, new products that cannot meet customer needs, and new products that cannot be mass-produced smoothly.

In addition, due to the certain uncertainty in the construction progress and whether the market development can proceed smoothly during the project implementation, if there are major adverse changes in the project construction progress, market development, downstream market environment and other factors, there may be risks that the relevant investment projects will be terminated in the short term, unable to be completed as scheduled, or the implementation results will not achieve the expected benefits. The company may make corresponding adjustments to its investment projects based on market conditions and its actual operating and development needs. The company will promptly follow up on the investment project construction plan with raised funds, continue to pay attention to the technology applications, industrial policies, construction cycles, changes in the market environment and the company's business development related to the raised funds, and reduce the risks of the raised investment projects.

(2) The risk that the benefits of the investment project will not be as good as expected

The company's demonstration of the market environment, feasibility and expected income of investment projects with raised funds are mainly based on the current market environment. During the implementation of the investment project, if the relevant circumstances change significantly or are affected by other uncertain factors, or the company's market development does not meet expectations, or other expected events do not progress smoothly, the benefits of the investment project may be different from expectations, which may have an adverse impact on the company's overall operating conditions.

(3) Risks of delays in project construction and changes in the use of raised funds

In the early stage, the company conducted careful and sufficient feasibility studies and demonstrations on the investment projects with raised funds. However, during the implementation process, there may still be situations where the implementation progress is slower than planned, the construction of the raised investment projects needs to be postponed due to industry and market development conditions, or the use of raised funds needs to be adjusted. If the above situation occurs, the company will strictly implement decision-making procedures in accordance with relevant regulations and perform information disclosure obligations in a timely manner.

13. Formulation and implementation of market value management system and valuation improvement plan

Whether the company has formulated a market value management system.

Yes □No

Whether the company has disclosed plans to increase its valuation.

□Yes No

In order to strengthen the company's market value management work, further standardize the company's market value management behavior, and safeguard the legitimate rights and interests of the company, investors and other stakeholders, in accordance with the "Supervisory Guidelines for Listed Companies No. 10 - Market Value Management" and other relevant laws and regulations, the company formulated the "Market Value Management System", which was reviewed and approved at the 15th meeting of the sixth session of the Board of Directors.

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14. Implementation of the “Double Improvement of Quality and Return” action plan

Has the company disclosed an announcement on the action plan of “double improvement of quality and return”?

Yes □No

In the first half of 2026, the company closely focused on its development strategy and achieved remarkable results in focusing on its main business, innovative development, capital operation, and strengthening shareholder returns. The specific progress is announced as follows:

1. Adhere to focusing on the main business, deepen strategic layout, and achieve steady growth in operating performance

In the first half of 2026, the company closely focused on the strategic policy of "strategic focus, consolidating foundation and cultivating talents", relying on its profound process accumulation in the field of precision manufacturing, global production capacity layout and rapid response ability to customer needs, to achieve sustained and steady growth in operating performance.

The company achieved operating income of 25.149 billion yuan in the first half of 2026, a year-on-year increase of 6.45%. The net profit attributable to shareholders of listed companies was 764 million yuan, a year-on-year decrease of 17.88%. The net operating cash inflow was 1.710 billion yuan, a year-on-year increase of 2.20%. The main reasons are:

(1) The company continues to increase its investment in research and development of new products, and relies on its technological innovation advantages to optimize its product structure, driving overall gross profit to increase by 18.07% year-on-year, and gross profit margin to increase by 1.65 percentage points year-on-year.

(2) Affected by factors such as exchange rate fluctuations, the company's net profit declined year-on-year.

The operating conditions of the segmented business segments in the first half of 2026 are as follows:

(1) AI hardware-related business revenue was approximately 20.464 billion yuan, a year-on-year decrease of 1.92%, and gross profit margin increased by 0.58 percentage points year-on-year. Among them, battery power supply (including terminal side and AI computing power server power supply)-related business revenue was 3.928 billion yuan, a year-on-year increase of 12.73%; thermal management (including terminal-side and AI computing power server cooling) related business revenue was 2.92 billion yuan, a year-on-year increase of 43.46%.

(2) The automobile and low-altitude economic business achieved revenue of 3.528 billion yuan, a year-on-year increase of 198.26%, and the gross profit margin increased by approximately 6.25 percentage points year-on-year.

In the core business segment, the company actively seizes the hardware innovation opportunities brought by the wave of AI technology, fully focuses on "people, eyes, folding, and clothing", and conducts systematic layout and investment in four high-potential tracks such as robots, AI glasses and XR wearable devices, smartphone folding screens, and servers.

(1) Physics AI (robot)

During the reporting period, assembly lines at Beijing, Chengdu, Zhengzhou, Dongguan and overseas robot bases were officially put into production, and products such as core humanoid robot components, joint modules and complete machines were mass-produced and delivered. The company's influence in the embodied intelligence industry continued to increase. Honor Robot "Lightning" won the championship in the 2026 Beijing Yizhuang Humanoid Robot Half Marathon Competition. The company provides core structural parts, surface treatment and other related products and services for it. The company's embodied intelligent industrial application scenarios have been upgraded again. Various types of industrial embodied robots have been invested in core production links such as loading and unloading, AOI inspection, and CNC processing. The depth and breadth of applications have been significantly improved.

(2) Device-side AI (AI terminal)

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The company has mass-produced and shipped ultra-thin high-performance vapor chambers (TVC) and mid-frame integrated vapor chamber modules to domestic customers. It also supplies core precision parts related to new generation terminal products to major North American customers, including hinge precision structural parts, screen support plates, ultra-thin vapor chambers, and ultra-thin stainless steel battery case modules with flanges.

(3) AI computing power

The company quickly entered the core track of server thermal management through the acquisition of Dongguan Liminda Electronic Technology Co., Ltd. Liminda's main business includes server liquid cooling quick-disconnect connectors (UQD), liquid cooling manifolds (Manifold), single-phase liquid cooling modules (server liquid cooling plates and optical module cold plates), phase change liquid cooling modules, server vapor chambers (VC and 3DVC) and other thermal management core hardware products, as well as busbars, server racks, etc. As the core supplier of leading computing power customers in North America, Liminda continues to deliver server liquid cooling and power supply-related products in batches to leading overseas computing power industry companies and their supply chain-related partners, and server universal redundant power supply (CRPS)-related products have also been mass-produced and shipped.

(4) Automobile and low-altitude economic business

In the field of automobiles and low-altitude economy, the company successfully entered the field of automotive interior parts and new energy power transmission shaft parts through the acquisition of Jiangsu Keda Stern Automotive Technology Co., Ltd. and Zhejiang Xianglong Machinery Co., Ltd., promoting the company's transition from a single parts supplier to a first-tier supplier that provides multi-category and systematic solutions. The company's main customers in the automotive sector include Volkswagen, Toyota, Great Wall, BYD, NIO, Leapmotor, GAC, FAW, Chery, Ideal, Geely, JAC and other new energy and fuel vehicle manufacturers. In the first half of 2026, the automotive and low-altitude economic business continued to develop well, with market share and profitability continuing to increase.

2. Successfully built the “A+H” dual capital platform to empower global development

In the first half of 2026, the company achieved major milestones in capital operations. On June 26, 2026, the company was successfully listed on the main board of the Hong Kong Stock Exchange with the stock code "01688". The number of H shares issued in this global offering of the company was 811,811,880 shares, the issue price was HK$10.18, and the total funds raised reached HK$8.264 billion. This H-share issuance and listing will build an "A+H" dual capital platform, help the company connect the two major capital markets at home and abroad, expand diversified financing channels, optimize the shareholder structure, attract more international long-term value investors, and further improve corporate governance and international capital operation capabilities. Listing in Hong Kong will significantly enhance the company's global brand awareness and market credibility, provide a strong platform support for the company to deepen its overseas business layout, promote mergers and acquisitions integration, introduce international talents, and accelerate the realization of global production capacity layout and strategic goals of serving global top customers.

3. Practice ESG concepts and build a new pattern of sustainable development

The company has always adhered to the concept of green development and deeply integrated sustainable management into the entire operation process. In terms of green manufacturing, we promote the coordinated development of CNC intelligent workshops and green anode production lines to achieve both intelligent upgrading of production links and green transformation of processes. Related practices were selected into the Shenzhen Stock Exchange's "English Case Collection of ESG Practices of Listed Companies". In the field of social responsibility, the company continues to promote the "Rainbow Project" diversified integration project to create jobs and growth platforms for disabled groups. As of June 30, 2026, the project coverage has expanded to 11 factory sites, providing jobs for a total of 2,081 people with disabilities; during Social Responsibility Month in May 2026, the company has established an online and offline three-dimensional publicity and education system to carry out working hours

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Special training and presentations on management, employee rights protection, occupational health and safety, etc., deeply embed compliance requirements into the entire business process and build a solid foundation for corporate operations. In terms of environmental management, the company insists on attaching equal importance to implementation and capacity building, strengthens the environmental compliance awareness of all employees through environmental protection special training such as hazardous substance control, and steadily promotes low-carbon and sustainable development of the enterprise. With its continuous efforts in the ESG field, the company has continuously obtained A-level rating certifications from the world's leading ESG rating agency, which fully reflects the international community's high recognition of the company's long-term commitment to sustainable development practices.

4. Standardize corporate governance and improve the transparency and effectiveness of information disclosure

Sound corporate governance is the cornerstone of the sustainable development of listed companies and the foundation for protecting the rights and interests of investors. In the first half of 2026, the company continued to consolidate its governance foundation, strictly abided by laws, regulations and the company's articles of association to ensure that the "three meetings and one layer" were in compliance with the law and had effective checks and balances. In combination with business development and regulatory requirements, the company has systematically optimized its internal management system and effectively improved the level of standardized operations and scientific decision-making.

In terms of information disclosure, the company adheres to the principles of "authenticity, accuracy, completeness, timeliness and fairness" and adheres to the orientation of investor needs. Through regular reports, performance briefings and other forms, the company actively communicates business progress and strategic insights to the market to help investors understand the company's value fairly and clearly. With its unremitting pursuit of information disclosure quality, the company has won the "A" grade for three consecutive years in the Shenzhen Stock Exchange's annual letter disclosure evaluation.

5. Pay attention to shareholder returns, strengthen investor relationship management, and effectively enhance investors’ sense of gain

The company firmly believes that respecting and rewarding investors is the core responsibility of listed companies. In the first half of 2026, the company has implemented stable and transparent cash dividends, actively promoted share repurchases, and continued to carry out multi-channel investor communication, effectively implementing the investor-oriented concept and striving to enhance shareholder returns and sense of value gain.

(1) Continuous cash dividends to return investors

The company always adheres to the principle of being investor-oriented and attaches great importance to reasonable investment returns for investors. The company held the 23rd meeting of the sixth board of directors on March 26, 2026, and reviewed and approved the "Proposal on the 2025 Profit Distribution Plan and the 2026 Interim Dividend Authorization". The 2025 profit distribution plan is: a cash dividend of 0.2 yuan (tax included) for every 10 shares, and the actual cash dividend distributed was 145,483,349.60 yuan (tax included). The company held the 28th meeting of the sixth board of directors on August 28, 2026, and reviewed and approved the "Proposal on the 2026 Semi-annual Profit Distribution Plan". The 2026 semi-annual profit distribution plan is: a cash dividend of 0.2 yuan (tax included) for every 10 shares, and a total cash dividend of 161,521,554.54 yuan (tax included) is planned.

(2) Implement share buybacks to boost market confidence

The company held the 23rd meeting of the sixth board of directors on March 26, 2026, and reviewed and approved the repurchase plan. It plans to use its own funds and special repurchase loans to repurchase shares, with the total amount of funds not less than 200 million yuan and no more than 400 million yuan. Based on firm confidence in the company's long-term value, the company held the 27th meeting of the sixth board of directors on July 17, 2026, and raised the total repurchase funds to no less than 400 million yuan and no more than 800 million yuan, and the upper limit of the repurchase price remained unchanged. Calculated based on the adjusted upper limit, approximately 37,950,664 shares are expected to be repurchased, accounting for 0.47% of the company's total share capital. This adjustment will help enhance investor confidence, and the company will continue to implement buybacks based on market conditions to effectively safeguard the interests of shareholders. As of July 31, 2026, the company has repurchased a total of 32,375,800 shares, accounting for 0.40% of the company's total share capital, with the highest transaction price of 14.43 yuan/share.

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The lowest transaction price was 11.97 yuan/share, and the transaction amount was 439,104,518.31 yuan. From the beginning of 2026 to the present, the company's cumulative repurchases and dividends accounted for 76.55% of the net profit attributable to shareholders of listed companies in the first half of 2026.

(3) Pay attention to investor relations management and strengthen communication through multiple channels

The company attaches great importance to investor relations management and actively strengthens communication with investors through various channels such as the investor interactive platform, online performance briefings, investor hotlines, and offline investor activities. On April 16, 2026, the company participated in the 2025 collective performance briefing meeting held by the Shenzhen Stock Exchange on "Strong Empowerment to Set Benchmarks and Create a New Highland for Intelligent Manufacturing in the Bay Area" and had in-depth exchanges with investors. The company responds to investor concerns in a timely and effective manner in various forms, and regularly updates the company's business operations on its official website and WeChat official account, making it easier for capital market investors to obtain company operating information and understand the company's business development.

In the second half of 2026, the company will firmly promote various reform measures and strategic layout with stronger strategic focus and a more open and enterprising mentality; continue to deepen the core track of intelligent manufacturing, consolidate its leading advantages in the field of AI hardware, and accelerate the development of end-side AI terminals, physical The layout of new tracks such as AI, AI computing power, automobiles and low-altitude economy; relying on the dual advantages of full-link technical capabilities and global service systems, with the goal of continuously increasing the revenue share of high value-added products, continuously enhancing core competitiveness in the process of crossing the cycle, improving global market position and sustainable development capabilities, and repaying the trust and support of shareholders with steady and long-term growth.

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Section 4 Corporate Governance, Environment and Society

1. Changes in directors and senior managers of the company

□Applicable Not applicable

There were no changes in the company's directors and senior managers during the reporting period. For details, please refer to the 2025 annual report.

2. Profit distribution and conversion of capital reserve funds into share capital during the reporting period

Applicable □Not applicable

Number of bonus shares for every 10 shares (shares) 0 Number of dividends for every 10 shares (yuan) (tax included) 0.2 Share capital base of the distribution plan (shares) 8,076,077,727 Amount of cash dividends (yuan) (tax included) 161,521,554.54 Amount of cash dividends in other ways (such as share repurchase) (yuan) 311,132,511.58 Total cash dividends (including other methods) (yuan) 472,654,066.12 Distributable profits (yuan) 6,184,462,987.68 Total cash dividends (including other methods) as a proportion of total profit distribution 100%

Cash dividend distribution this time

Others

Detailed explanation of profit distribution or capital reserve conversion plan

According to the principle of the lower of the undistributed profit in the consolidated statement and the parent company's statement, the company's actual distributable profit on June 30, 2026 was 6,184,462,987.68 yuan. In order to actively reward investors and comprehensively consider the company's operating performance and long-term development, the company's board of directors has formulated a profit distribution plan for the first half of 2026 as follows: Based on the company's total share capital of 8,076,077,727 shares as of July 31, 2026, excluding the shares held by the repurchase account, a cash dividend will be distributed for every 10 shares. 0.2 yuan (tax included), no bonus shares will be issued, and the reserve fund will not be converted into share capital. The company plans to distribute a total cash dividend of 161,521,554.54 yuan (tax included). From July 31, 2026 to the equity registration date for equity distribution, if the company's total share capital changes due to share repurchases, equity incentive exercise, etc., it is planned to adjust the total dividend amount accordingly based on the principle that the per share distribution ratio remains unchanged. This cash dividend is denominated and declared in RMB, of which A-share dividends are paid in RMB and H-share dividends are paid in Hong Kong dollars. The actual amount of H-share dividends distributed is calculated based on the central parity rate of RMB to Hong Kong dollars announced by the People's Bank of China on the working day before the 28th meeting of the company's sixth board of directors.

3. Implementation of the company’s equity incentive plan, employee stock ownership plan or other employee incentive measures

Applicable □Not applicable

1. Equity incentives

The company held the 25th meeting of the sixth board of directors on June 9, 2026, and reviewed and approved the "Proposal on Adjusting the Exercise Price of the Initial Grant and Reserved Grant of the 2024 Stock Option Incentive Plan", and agreed that the company would adjust the exercise price of the initial grant and reserved grant of the 2024 Stock Option Incentive Plan to 4.40 yuan/share based on the 2025 profit distribution plan.

2. Implementation of employee stock ownership plan

Applicable □Not applicable

All effective employee stock ownership plans during the reporting period

Shares held account for total share capital of listed companies

Scope of employees Number of employees Changes Ratio of total sources of funds (shares) to implement the plan

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Shares held account for total share capital of listed companies

Scope of employees Number of employees Changes Funding sources to implement the plan

Proportion of total amount (shares)

Directors (excluding independent directors), supervisors

18 18,020,924 Not applicable 0.22% of shareholders, shareholders, actual controllers and other methods permitted by laws and administrative laws. close relatives

The core backbone of the company does not include legal remuneration of shareholding employees, shareholders who raise more than 5% of the total, actual control 95 26,400,000 Not applicable 0.33% funds and other methods permitted by laws, administrative legal persons and their close relatives. Shareholdings of directors and senior managers in employee stock ownership plans during the reporting period

Number of shares held at the beginning of the reporting period Number of shares held at the end of the reporting period Total share capital of listed companies Name Position

Proportion of (shares) (shares) Jia Shuangyi Vice Chairman 780,000 780,000 0.01% Huang Huangrong Employee Representative Director 390,000 390,000 0.01% Wang Tao Financial Manager 780,000 780,000 0.01% Guo Rui Deputy General Manager, Secretary of the Board of Directors 780,000 780,000 0.01% Changes in asset management institutions during the reporting period

□Applicable Not applicable

Changes in equity caused by holders’ disposal of shares during the reporting period

□Applicable Not applicable

Exercise of shareholders’ rights during the reporting period

During the reporting period, the company's 2024 employee stock ownership plan and 2025 employee stock ownership plan participated in the 2025 cash dividend, but did not participate in the company's shareholders' meeting.

Other relevant situations and explanations of the employee stock ownership plan during the reporting period

□Applicable Not applicable

Changes in the membership of the Employee Stock Ownership Plan Management Committee

□Applicable Not applicable

The financial impact of employee stock ownership plans on listed companies during the reporting period and related accounting treatments

Applicable □Not applicable

The amortization amount of the company's employee stock ownership plan in the first half of 2026 is 104,498,148.86 yuan.

Termination of employee stock ownership plans during the reporting period

□Applicable Not applicable

3. Other employee incentives

□Applicable Not applicable

4. Environmental information disclosure

Whether listed companies and their major subsidiaries are included in the list of companies that disclose environmental information in accordance with the law

Yes □No

Companies included in the list of companies that disclose environmental information in accordance with the law

Quantity (home)

Serial number Company name Query index of environmental information disclosure report according to law

Log in to the Guangdong Province Enterprise Environmental Information Disclosure System https://www- 1 Dongguan Lingyi Precision Manufacturing Technology Co., Ltd. app.gdeei.cn/gdeepub/front/dal/dal/newindex

National pollution discharge permit management information platform

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https://permit.mee.gov.cn/permitExt/defaults/default-index

Log in to the Guangdong Province Enterprise Environmental Information Disclosure System https://wwwapp.gdeei.cn/gdeepub/front/dal/dal/newindex

2 Jiangmen Jiangyi Magnetic Materials Co., Ltd.

National pollution discharge permit management information platform https://permit.mee.gov.cn/permitExt/defaults/default-index

Log in to the Guangdong Province Enterprise Environmental Information Disclosure System https://wwwapp.gdeei.cn/gdeepub/front/dal/dal/newindex

3 Dongguan Shengtao Technology Co., Ltd.

National pollution discharge permit management information platform https://permit.mee.gov.cn/permitExt/defaults/default-index

Log in to the Guangdong Province Enterprise Environmental Information Disclosure System https://wwwapp.gdeei.cn/gdeepub/front/dal/dal/newindex

4 Dongguan Shengxiang Precision Metal Co., Ltd.

National pollution discharge permit management information platform https://permit.mee.gov.cn/permitExt/defaults/default-index

Log in to the Guangdong Province Enterprise Environmental Information Disclosure System https://wwwapp.gdeei.cn/gdeepub/front/dal/dal/newindex

5 Lingyi Intelligent Manufacturing Technology (Dongguan) Co., Ltd.

National pollution discharge permit management information platform https://permit.mee.gov.cn/permitExt/defaults/default-index

Log in to the Guangdong Province Enterprise Environmental Information Disclosure System https://wwwapp.gdeei.cn/gdeepub/front/dal/dal/newindex

6 Dongguan Obidi Precision Hardware Co., Ltd.

National pollution discharge permit management information platform https://permit.mee.gov.cn/permitExt/defaults/default-index

Log in to Jiangsu Enterprise “Environmental Protection Facebook” | Disclose corporate environmental information in accordance with the law and fill in http://218.94.78.91:18181//spsarchive-

webapp/web/viewRunner.html?viewId=http://218.94.78.91:18181/spsarchive- 7 Yangzhou Linghuang Technology Co., Ltd.

webapp/web/sps/views/yfpl/views/enterpriseFillingNew/index.js&ticket=36411c f1ad3a49279cc287748b8bd982&spCode=3210710201000386&year=2025&vers ionId=FF0EDE8577AC4E4EBA19FDD218B6F1A4

Log in to the “Environmental Protection Facebook” of Jiangsu Enterprises | Complete and disclose corporate environmental information in accordance with the law

Jiangsu Keda Stern Automotive Technology Co., Ltd. http://ywxt.sthjt.jiangsu.gov.cn:18181/spsarchive-

Ltd. webapp/web/viewRunner.html?viewId=./sps/views/yfpl/views/yfplHomeNew/in dex.js

Login Zhejiang Province Enterprise Environmental Information Disclosure System 9 Ningbo Xianglong Auto Parts Co., Ltd.

https://mlzj.sthjt.zj.gov.cn/eps/index/enterprise-search

5. Social Responsibility

The company regards social responsibility as an important part of corporate strategy, deeply embeds it in the entire process of corporate governance and production and operation, and adheres to economic efficiency.

We develop collaboratively with social benefits, and systematically promote social benefits in areas such as green development, diversity and equality, employee care, social welfare, and compliance governance.

We will practice social responsibility and, while achieving business development, actively respond to the expectations of various stakeholders and fulfill the corporate citizenship responsibilities of listed companies.

1. Adhere to people-oriented and improve employee care and security system

The company always regards employee well-being as an important cornerstone of sustainable development, including living environment, physical and mental health, response to demands, and career development.

We implement employee care in multiple dimensions, continuously optimize workplace experience, and enhance employees’ sense of belonging.

In terms of upgrading living and dining facilities, the company focuses on employees’ daily life scenarios and continues to promote hardware iteration, service optimization and food

Safety management to improve employees’ living standards. In the accommodation field, the company optimizes the spatial layout of dormitories, reasonably reduces residential density, and iterates bathroom,

Security, furniture, network and other supporting hardware, while improving supporting services, implementing relocation assistance, standardized maintenance response, and 24-hour dormitory management

We will ensure compliance and continue to iterate and optimize the living experience based on employee feedback. In the field of dining, the company has established unified canteen construction standards and standardized canteens

Moving lines, space layout and kitchen operation management, create a model canteen in the factory, and enhance the dining experience through environmental upgrades and intelligent services. with this

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At the same time, the company strictly adheres to the bottom line of food safety, improves the standardized management of the back kitchen, implements zoning control of items, gradually builds a rapid food inspection and screening mechanism, orderly promotes the construction of pre-detection capabilities for food safety risks, conducts pre-detection of various food safety risks, and ensures the dietary health and safety of employees from the source.

In terms of employee physical and mental health management, the company organized a series of activities called "Healthy Habits Theme Month". Through health science promotion, habit check-in training camps, special courses, knowledge competitions and other forms, the company popularized health knowledge such as work and rest management, scientific diet, exercise and emotional management to employees, and guided employees to establish a healthy lifestyle. All factories carry out free health clinic services on a regular basis, and collaborate with medical institutions to provide employees with a variety of on-site diagnosis, treatment and consultation services such as traditional Chinese medicine, dentistry, and internal medicine to effectively protect the health of employees. On important occasions such as Women's Day, each factory organizes themed care activities to carry out condolences and interactions to convey respect and care for female employees.

In terms of employee communication and rights protection, the company continues to promote the construction of a full-cycle employee management system. Relying on the one-stop personnel and administrative service center, we have built five major systems: AI interview system, entry and exit system, self-service dormitory room selection, self-allocation of positions PMC system, and self-service functional service systems for consultation and question answering. The time for onboarding processing has been reduced by 85%, and the time for replying to dormitory allocation has been reduced by more than 90%. This efficiency improvement practice ranks first at the group level. During the reporting period, the one-stop personnel and administrative service center continued to leverage its system integration advantages to provide efficient support for employees in handling business. On this basis, the company used the Dongguan Lingyi factory as a pilot and conducted a total of more than 50,000 surveys through onboarding interviews, exit interviews, on-site surveys, grievance express trains, employee satisfaction surveys, etc. to identify key factors affecting employee retention, and specifically implemented measures such as improving the workshop environment, setting up employee care positions, and optimizing performance and subsidies to effectively improve staff retention levels.

The company continues to improve the response mechanism to employee demands and consolidate the foundation of the labor-management communication system. The company has prepared a white paper on employee grievance management to continuously improve the grievance management system: improve the hierarchical case handling and full-cycle notification mechanism, and standardize SOPs for handling various cases; combine high-level direct communication mechanisms such as executive open days to ensure smooth channels for employees and external diverse groups (outsourcing, suppliers, labor, etc.) to appeal; improve employee job competency assessment and training systems, establish a mechanism for grievance data analysis and regular reporting, promote closed-loop management of various issues, and continue to promote harmony and stability in labor relations.

2. Promote diversity and inclusion in the workplace and ensure equal employment and development opportunities

The company actively practices the concept of equality and inclusion in the workplace and continues to implement the "Rainbow Project" diversity integration project to create jobs and growth platforms for the disabled group. The project was launched in 2023. As of June 30, 2026, the project coverage has expanded to 11 factory areas, the number of suitable positions has been expanded to 13 categories, covering 7 types of disabilities, and a total of 2,081 people with disabilities have been provided with employment positions.

The company has established a growth support system such as tutoring and skills certification, enriched cultural activities, and fully guaranteed the quality of work and life of employees with disabilities. Taking advantage of the National Disability Day, each factory carried out a series of theme empowerment and care activities, organized exchanges and discussions, and collected and followed up on employee suggestions. Deepen the diversity and integration ambassador mechanism, complete the first batch of ambassador certifications and continue to carry out special training, enhance the awareness of equal collaboration among all employees, integrate the concepts of anti-discrimination, equality and inclusiveness into daily management, and strive to create a barrier-free and warm workplace environment.

3. Deepen compliance publicity and solidify the foundation of sustainable development management

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May every year is Corporate Social Responsibility Month. In May 2026, the Group collaborated with its subsidiaries to carry out a series of multi-dimensional social responsibility themed activities to promote the concept of social responsibility from institutional provisions to daily practice. During the event, the company established a three-dimensional online and offline publicity and education system: Online, it relied on internal cloud classrooms to push core social responsibility courses such as working hours management, employee rights protection, and occupational health and safety to achieve full coverage; offline, it went to various factories and front-line teams to carry out publicity and video broadcasts, and posted themed posters in workshops, canteens and other places to popularize compliance requirements such as the prohibition of child labor, anti-discrimination, safe production, and environmental protection. During the reporting period, the company organized two social responsibility knowledge training sessions for all employees in March and May to guide the transformation of social responsibility concepts into codes of conduct for all employees.

While strengthening publicity and education, the company has established and improved a social responsibility risk management and control mechanism, and consolidated the bottom line of operations through special audits, regular training, and rigid rewards and punishments. The company has set up a special review team to implement comprehensive social responsibility risk investigation and control, incorporate compliance performance into performance assessments, and support near-miss incident reporting mechanisms to promote the in-depth integration of ESG and social responsibility management requirements into the entire business process and build a solid foundation for corporate compliance operations.

4. Fulfill public welfare responsibilities and actively give back to society

The company actively fulfills its corporate citizenship responsibilities, guides various factory organizations to carry out public welfare practices, and gathers the strength of employees to give back to the society. In the first half of 2026, many factories have organized free blood donation public welfare activities, and employees have actively participated to help supplement clinical blood demand and convey corporate social responsibility through practical actions.

5. Adhere to green manufacturing and help achieve the dual-carbon goal

In compliance with global green transformation and domestic “double carbon” requirements, the company continues to improve its green manufacturing system and integrates environmental compliance and low-carbon operations into the entire production process. The company promotes the coordinated development of intelligent manufacturing and green production, and achieves both intelligent upgrading of production links and green transformation of processes through the dual-core model of CNC intelligent workshops and green anode production lines. In the first half of 2026, the above-mentioned integrated practices were selected into the Shenzhen Stock Exchange's "English Case Collection of ESG Practices for Listed Companies". The relevant practical experience can provide reference for the sustainable development of the manufacturing industry. The company insists on attaching equal importance to implementation and capacity building. By carrying out environmental protection special trainings such as the control of hazardous substances, it strengthens the environmental compliance awareness of all employees, continues to improve environmental management capabilities, and steadily promotes low-carbon and sustainable development of the enterprise.

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Section 5 Important Matters

1. Commitments made by the company’s actual controller, shareholders, related parties, acquirers, the company and other relevant parties that have been fulfilled during the reporting period and have been overdue as of the end of the reporting period.

□Applicable Not applicable

During the reporting period of the company, there were no commitments made by the company's actual controller, shareholders, related parties, acquirers, the company and other relevant parties that were fully fulfilled during the reporting period and that were overdue and unfulfilled as of the end of the reporting period.

2. Non-operating capital occupation of listed companies by controlling shareholders and other related parties □Applicable Not applicable

During the company's reporting period, there was no non-operational occupation of funds by the controlling shareholder or other related parties of the listed company.

3. Illegal external guarantees

□Applicable Not applicable

The company had no illegal external guarantees during the reporting period.

4. Appointment and dismissal of accounting firms

Has the semi-annual financial report been audited?

□Yes No

The company's semi-annual report has not been audited.

5. The board of directors’ explanation of the accounting firm’s “non-standard audit report” for this reporting period □ Applicable  Not applicable

6. Explanation of the Board of Directors on the “Non-standard Audit Report” of the previous year □ Applicable  Not applicable

7. Matters related to bankruptcy and reorganization

□Applicable Not applicable

The company had no bankruptcy or reorganization related matters during the reporting period.

8. Litigation matters

Major litigation and arbitration matters

Applicable □Not applicable

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Whether to wear

Litigation (arbitration) trial

Amount involved Formation Litigation (arbitration) Judgment Disclosure of basic situation of litigation (arbitration) Progress of litigation (arbitration) Results and impact Disclosure index (10,000 yuan) Estimated execution status of judgment Day

ring

Liabilities Juchao Information Network (www.cninf

Sentencing Wang Nandong

As of this announcement (202 o.com.cn)

repay the company

On the open day, the company has been 5 years old. "About the company Guangdong Lingyi Intelligent Manufacturing Co., Ltd. has advance payment and profits."

Cumulative recovery and execution 01 Suing Wang Nandong Guarantee Co., Ltd. v. Wang Nandong Guarantee 111,950.03 - Interest and payment law is in execution

Payments Monthly insurance cases Execution contract dispute cases Teacher fees and property

629,111,585.09 25 progress

preservation insurance

Yuan. Announcement "Announcement fee.

Number: 2025-

4. Other litigation matters

Applicable □Not applicable

Whether to wear

Litigation (arbitration) trial

Amount involved Formation Litigation (arbitration) Judgment Disclosure of basic situation of litigation (arbitration) Progress of litigation (arbitration) Results and impact Disclosure index (10,000 yuan) Estimated execution status of judgment Day

ring

The liability period has not reached major litigation,

Summary of arbitration matters (original

49,249.36 - Unclosed Unclosed case Not applicable

Report) (June 30, 2026

Not yet settled)

No serious litigation,

Summary of arbitration matters (subject to

19,239.46 - Unclosed Unclosed cases Not applicable

Report) (June 30, 2026

Not yet settled)

9. Punishment and Rectification

□Applicable Not applicable

There were no penalties or rectifications during the company's reporting period.

10. Integrity status of the company, its controlling shareholders and actual controllers

□Applicable Not applicable

11. Major related transactions

1. Related transactions related to daily operations

□Applicable Not applicable

The company had no related transactions related to daily operations during the reporting period.

2. Related transactions arising from asset or equity acquisition and sale

□Applicable Not applicable

The company had no related transactions related to asset or equity acquisition or sale during the reporting period.

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3. Related transactions related to joint external investment

□Applicable Not applicable

The company had no related transactions related to joint external investments during the reporting period.

4. Related credit and debt transactions

□Applicable Not applicable

The company had no related creditor's rights or debts during the reporting period.

5. Dealings with related financial companies □Applicable Not applicable

There are no deposits, loans, credit or other financial business between the company and its related financial companies and related parties.

6. Dealings between financial companies controlled by the company and related parties □Applicable Not applicable

There are no deposits, loans, credit or other financial business between the financial companies controlled by the company and related parties.

7. Other major related transactions

□Applicable Not applicable

The company had no other major related transactions during the reporting period.

12. Major contracts and their performance

13. Custody, contracting and leasing matters

(1) Custody situation

□Applicable Not applicable

There was no custody situation during the company's reporting period.

(2) Contracting situation

□Applicable Not applicable

There was no contracting situation during the reporting period of the company.

(3) Leasing situation

□Applicable Not applicable

There was no leasing situation during the company's reporting period.

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2. Major guarantee

Applicable □Not applicable

Unit: 10,000 yuan

External guarantees provided by the company and its subsidiaries (excluding guarantees to subsidiaries)

Counter-guarantee status

The announcement related to the guarantee limit discloses the actual guarantee, the collateral (such as whether it has been fulfilled, whether it is the name of the relevant guarantee object, the guarantee limit, the actual date of occurrence, the type of guarantee, and the status (such as the guarantee period).

Exposure date Amount Yes) Trip completed Co-guaranteed

Yes)

Hunan Liminda Electronic Technology Co., Ltd. November 17, 2023 1,400 Joint and several liability guarantee 2.5 years Yes No Hunan Liminda Electronic Technology Co., Ltd. July 1, 2024 1,600 Joint and several liability guarantee 2 years Yes No Hunan Liminda Electronic Technology Co., Ltd. September 12, 2025 1,000 Joint and several liability guarantee 1 year No No Hunan Liminda Electronic Technology Co., Ltd. July 2, 2025 700 Joint liability guarantee 2 years Yes No

The actual amount of external guarantees incurred during the reporting period

Total external guarantee lines approved during the reporting period (A1) 0 0 Total (A2)

The total balance of external guarantees at the end of the reporting period

The total amount of external guarantees approved at the end of the reporting period (A3) 0 1,000 (A4)

The company’s guarantees for subsidiaries

Counter-guarantee status

The announcement related to the guarantee limit discloses the actual guarantee, the collateral (such as whether it has been fulfilled, whether it is the name of the relevant guarantee object, the guarantee limit, the actual date of occurrence, the type of guarantee, and the status (such as the guarantee period).

Exposure date Amount Yes) Trip completed Co-guaranteed

Yes)

LY INVESTMENT(HK) LIMITED December 07, 2024 2,000,000 August 11, 2025 14,000 Joint liability guarantee 0.5 years Yes No LY INVESTMENT(HK) LIMITED December 06, 2025 2,000,000 December 19, 2025 5,000 Joint liability guarantee 0.33 years Yes No LY INVESTMENT(HK) LIMITED December 06, 2025 2,000,000 June 17, 2026 8,177.64 Joint liability guarantee 1 year No No LY INVESTMENT(HK) LIMITED December 06, 2025 2,000,000 June 17, 2026 11,584.99 Joint and several liability guarantee 1 year No No TLG INVESTMENT(HK)LIMITED December 8, 2023 2,000,000 September 25, 2024 36,700 Joint and several liability guarantee 2 years No No TLG INVESTMENT(HK)LIMITED December 08, 2023 2,000,000 October 18, 2024 22,700 Joint liability guarantee 2 years No No TLG INVESTMENT(HK)LIMITED December 07, 2024 2,000,000 August 9, 2025 15,000 Joint liability guarantee 0.5 years Yes No TLG INVESTMENT(HK)LIMITED December 07, 2024 2,000,000 September 5, 2025 10,000 Joint liability guarantee 0.49 years Yes No TLG INVESTMENT(HK)LIMITED December 07, 2024 2,000,000 September 10, 2025 25,000 Joint liability guarantee 0.48 years Yes No TLG INVESTMENT(HK)LIMITED December 7, 2024 2,000,000 September 26, 2025 15,000 Joint liability guarantee 0.49 years Yes No TLG INVESTMENT(HK)LIMITED December 07, 2024 2,000,000 September 28, 2025 15,000 Joint liability guarantee 1 year No No TLG INVESTMENT(HK)LIMITED December 07, 2024 2,000,000 October 17, 2025 35,000 Joint liability guarantee 0.49 year Yes No TLG INVESTMENT(HK)LIMITED December 06, 2025 2,000,000 December 08, 2025 2,074.6 Joint liability guarantee 0.31 years Yes No TLG INVESTMENT(HK)LIMITED December 06, 2025 2,000,000 December 25, 2025 18,000 Joint liability guarantee 0.32 years Yes No

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Full text of the 2026 semi-annual report of Guangdong Lingyi Intelligent Manufacturing Co., Ltd. TLG INVESTMENT(HK)LIMITED December 06, 2025 2,000,000 December 26, 2025 5,000 Joint liability guarantee 0.30 years Yes No TLG INVESTMENT(HK)LIMITED December 06, 2025 2,000,000 January 15, 2026 13,995 Joint liability guarantee 1 year No No TLG INVESTMENT(HK)LIMITED December 6, 2025 2,000,000 June 8, 2026 20,000 Joint liability guarantee 0.17 years No No TLG INVESTMENT(HK)LIMITED December 6, 2025 2,000,000 June 15, 2026 10,000 Joint liability guarantee 0.16 years No No TLG INVESTMENT(HK)LIMITED December 6, 2025 2,000,000 June 16, 2026 20,000 Joint and several liability guarantee 0.16 years No No Triumph Lead (Singapore) Pte. Ltd. December 07, 2024 2,000,000 June 24, 2025 22,000 Joint and several liability guarantee 3 years No No Triumph Lead (Singapore) Pte. Ltd. December 07, 2024 2,000,000 July 24, 2025 29,900 Joint and several liability guarantee 2 years No No Triumph Lead (Singapore) Pte. Ltd. December 7, 2024 2,000,000 October 24, 2025 20,000 Joint and several liability guarantee 0.49 years Yes No Triumph Lead (Singapore) Pte. Ltd. December 6, 2025 2,000,000 February 14, 2026 30,000 Joint liability guarantee 0.96 years No No Chengdu Lingyi Technology Co., Ltd. January 19, 2023 1,400,000 November 3, 2023 8,750 Joint liability guarantee 3 years No No Chengdu Lingyi Technology Co., Ltd. December 8, 2023 1,500,000 October 9, 2024 7,000 Joint and several liability guarantee 2.95 years No No Dongguan Lingjie Metal Precision Manufacturing Technology Co., Ltd. January 19, 2023 1,400,000 July 27, 2023 7,500 Joint and several liability guarantee 3 years No No Dongguan Lingjie Metal Precision Manufacturing Technology Co., Ltd. December 8, 2023 2,000,000 January 22, 2024 18,000 Joint and several liability guarantee 2 years Yes No Dongguan Lingjie Metal Precision Manufacturing Technology Co., Ltd. December 08, 2023 2,000,000 May 27, 2024 19,950 Joint and several liability guarantee 3 years No No Dongguan Lingjie Metal Precision Manufacturing Technology Co., Ltd. December 7, 2024 2,000,000 November 25, 2025 9,750 Joint and several liability guarantee 1.08 years No No

Joint and several liability guarantee, quality

Dongguan Lingjie Metal Precision Manufacturing Technology Co., Ltd. December 6, 2025 2,000,000 January 1, 2026 5,000 Patent 1 year No No

pledge

Dongguan Lingjie Metal Precision Manufacturing Technology Co., Ltd. December 6, 2025 2,000,000 January 16, 2026 704.26 Joint and several liability guarantee 2 years No No Dongguan Lingjie Metal Precision Manufacturing Technology Co., Ltd. December 6, 2025 2,000,000 January 28, 2026 166.58 Joint and several liability guarantee 1.96 years No No Dongguan Lingjie Metal Precision Manufacturing Technology Co., Ltd. December 06, 2025 2,000,000 February 12, 2026 10,000 Joint and several liability guarantee 2 years No No Dongguan Lingjie Metal Precision Manufacturing Technology Co., Ltd. December 06, 2025 2,000,000 February 27, 2026 1,190.09 Joint and several liability guarantee 1.88 years No No Dongguan Lingjie Metal Precision Manufacturing Technology Co., Ltd. December 06, 2025 2,000,000 March 6, 2026 1,589.43 Joint and several liability guarantee 1.86 years No No Dongguan Lingjie Metal Precision Manufacturing Technology Co., Ltd. December 6, 2025 2,000,000 March 19, 2026 1,329.92 Joint liability guarantee 1.83 years No No Dongguan Lingjie Metal Precision Manufacturing Technology Co., Ltd. December 6, 2025 2,000,000 April 10, 2026 1,671.34 Joint liability guarantee 1.77 years No No Dongguan Lingjie Metal Precision Manufacturing Technology Co., Ltd. December 06, 2025 2,000,000 April 28, 2026 10,000 Joint and several liability guarantee 2 years No No Dongguan Lingjie Metal Precision Manufacturing Technology Co., Ltd. December 06, 2025 2,000,000 May 11, 2026 1,500.52 Joint and several liability guarantee 1.68 years No No Dongguan Lingjie Metal Precision Manufacturing Technology Co., Ltd. December 6, 2025 2,000,000 June 11, 2026 763.33 Joint and several liability guarantee 1.60 years No No Dongguan Lingjie Metal Precision Manufacturing Technology Co., Ltd. December 6, 2025 2,000,000 June 29, 2026 220.36 Joint and several liability guarantee 3 years No No Dongguan Lingrui Technology Co., Ltd. December 06, 2025 2,000,000 December 8, 2025 4,977.6 Joint and several liability guarantee 1.97 years No No Dongguan Lingrui Technology Co., Ltd. December 6, 2025 2,000,000 February 10, 2026 1,091.58 Joint liability guarantee 1.79 years No No Dongguan Lingyi Precision Manufacturing Technology Co., Ltd. January 19, 2023 1,400,000 September 1, 2023 10,000 Joint and several liability guarantee 2.99 years No No Dongguan Lingyi Precision Manufacturing Technology Co., Ltd. December 8, 2023 1,500,000 March 22, 2024 6,000 Joint and several liability guarantee 2.99 years No No

Joint and several liability guarantee, quality

Dongguan Lingyi Precision Manufacturing Technology Co., Ltd. December 6, 2025 2,000,000 January 1, 2026 5,000 Patent 1 year No No

pledge

Dongguan Lingyi Precision Manufacturing Technology Co., Ltd. December 6, 2025 2,000,000 June 29, 2026 241.95 Joint liability guarantee 1.91 years No No Dongguan Shengxiang Precision Metal Co., Ltd. January 19, 2023 1,400,000 September 25, 2023 5,000 Joint liability guarantee 2.99 years No No Dongguan Shengxiang Precision Metal Co., Ltd. January 19, 2023 1,400,000 November 27, 2023 4,800 Joint liability guarantee 2.98 years Yes No Dongguan Shengxiang Precision Metal Co., Ltd. December 8, 2023 1,500,000 March 8, 2024 7,250 Joint liability guarantee 3 years No No

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Full text of the 2026 semi-annual report of Guangdong Lingyi Intelligent Manufacturing Co., Ltd. Dongguan Shengxiang Precision Metal Co., Ltd. December 07, 2024 1,500,000 September 28, 2025 9,000 Joint liability guarantee 1.08 years No No Dongguan Shengxiang Precision Metal Co., Ltd. December 07, 2024 1,500,000 November 25, 2025 9,750 Joint liability guarantee 1.08 years No No

Joint and several liability guarantee, quality

Dongguan Shengxiang Precision Metal Co., Ltd. December 6, 2025 2,000,000 January 16, 2026 5,000 Patent 1 year No No

pledge

Dongtai Lingyu Intelligent Technology Co., Ltd. December 06, 2025 2,000,000 April 9, 2026 6,810.9 Joint liability guarantee 0.5 years No No Guilin Lingyi Manufacturing Co., Ltd. December 07, 2024 2,000,000 October 20, 2025 6,000 Joint liability guarantee 0.93 years No No Guilin Lingyi Manufacturing Co., Ltd. December 07, 2024 2,000,000 November 7, 2025 2,000 Joint liability guarantee 0.99 years No No Guilin Lingyi Manufacturing Co., Ltd. December 07, 2024 2,000,000 November 20, 2025 2,000 Joint liability guarantee 1 year No No Guilin Lingyi Manufacturing Co., Ltd. December 06, 2025 2,000,000 January 16, 2026 5,000 Joint liability guarantee 1 year No No Guilin Sercom Electronic Technology Co., Ltd. December 6, 2025 2,000,000 January 23, 2026 2,500 Joint and several liability guarantee 1 year No No Lingshengcheng Technology (Jiangsu) Co., Ltd. January 19, 2023 1,400,000 February 28, 2023 19,500 Joint and several liability guarantee 2.96 years Yes No Lingshengcheng Technology (Jiangsu) Co., Ltd. December 8, 2023 1,500,000 February 1, 2024 4,400 Joint and several liability guarantee 2.88 years No No Lingshengcheng Technology (Jiangsu) Co., Ltd. December 08, 2023 1,500,000 September 23, 2024 5,500 Joint and several liability guarantee 2.98 years No No Lingshengcheng Technology (Jiangsu) Co., Ltd. December 07, 2024 1,500,000 June 28, 2025 541.12 Joint and several liability guarantee 2.99 years No No Lingshengcheng Technology (Jiangsu) Co., Ltd. December 7, 2024 1,500,000 June 30, 2025 1,307.81 Joint and several liability guarantee 2.98 years No No Ling Sheng City Technology (Jiangsu) Co., Ltd. December 07, 2024 1,500,000 July 30, 2025 697.63 Joint liability guarantee 2.99 years No No Ling Sheng City Technology (Jiangsu) Co., Ltd. December 07, 2024 1,500,000 September 18, 2025 2,196.26 Joint and several liability guarantee 2.76 years No No Lingshengcheng Technology (Jiangsu) Co., Ltd. December 07, 2024 1,500,000 November 28, 2025 716.84 Joint and several liability guarantee 2.57 years No No Lingshengcheng Technology (Jiangsu) Co., Ltd. December 06, 2025 2,000,000 March 16, 2026 10,216.35 Joint and several liability guarantee 0.75 years No No Lingshengcheng Technology (Jiangsu) Co., Ltd. December 6, 2025 2,000,000 March 28, 2026 513.28 Joint and several liability guarantee 2.24 years No No Ling Sheng City Technology (Jiangsu) Co., Ltd. December 6, 2025 2,000,000 May 15, 2026 556.76 Joint liability guarantee 2.11 years No No Ling Sheng City Technology (Jiangsu) Co., Ltd. December 06, 2025 2,000,000 May 22, 2026 413.78 Joint and several liability guarantee 2.09 years No No Lingshengcheng Technology (Jiangsu) Co., Ltd. December 06, 2025 2,000,000 May 28, 2026 812.84 Joint and several liability guarantee 2.07 years No No Lingshengcheng Technology (Jiangsu) Co., Ltd. December 06, 2025 2,000,000 June 18, 2026 1,269.94 Joint and several liability guarantee 2.02 years No No Lingsheng Electronic Technology (Shenzhen) Co., Ltd. December 07, 2024 2,000,000 November 25, 2025 9,750 Joint and several liability guarantee 1.08 years No No Lingsheng Electronic Technology (Shenzhen) Co., Ltd. December 6, 2025 2,000,000 April 23, 2026 14,000 Joint and several liability guarantee 3 years No No Lingyi Technology (Shenzhen) Co., Ltd. January 19, 2023 1,400,000 February 17, 2023 9,500 Joint and several liability guarantee 3 years Yes No Lingyi Technology (Shenzhen) Co., Ltd. January 19, 2023 1,400,000 June 21, 2023 8,500 Joint and several liability guarantee 3 years Yes No Lingyi Technology (Shenzhen) Co., Ltd. January 19, 2023 1,400,000 July 27, 2023 2,500 Joint and several liability guarantee 2.99 years No No Lingyi Technology (Shenzhen) Co., Ltd. January 19, 2023 1,400,000 September 19, 2023 10,000 Joint liability guarantee 3 years No No Lingyi Technology (Shenzhen) Co., Ltd. January 19, 2023 1,400,000 December 25, 2023 8,100 Joint and several liability guarantee 3 years No No Lingyi Technology (Shenzhen) Co., Ltd. December 08, 2023 1,500,000 January 1, 2024 2,500 Joint and several liability guarantee 2.99 years No No Lingyi Technology (Shenzhen) Co., Ltd. December 08, 2023 1,500,000 January 1, 2024 5,000 Joint and several liability

Guarantee 2.99 years No No Lingyi Technology (Shenzhen) Co., Ltd. December 08, 2023 1,500,000 January 25, 2024 9,996 Joint liability guarantee 1.99 years Yes No Lingyi Technology (Shenzhen) Co., Ltd. December 08, 2023 1,500,000 February 22, 2024 9,000 Joint and several liability guarantee 1.98 years Yes No Lingyi Technology (Shenzhen) Co., Ltd. December 08, 2023 1,500,000 February 28, 2024 29,996 Joint and several liability guarantee 2 years Yes No Lingyi Technology (Shenzhen) Co., Ltd. December 08, 2023 1,500,000 June 21, 2024 19,997 Joint and several liability guarantee 2 years Yes No Lingyi Technology (Shenzhen) Co., Ltd. December 8, 2023 1,500,000 August 14, 2024 9,600 Joint and several liability guarantee 2 years No No

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Full text of the 2026 semi-annual report of Guangdong Lingyi Intelligent Manufacturing Co., Ltd. Lingyi Technology (Shenzhen) Co., Ltd. December 08, 2023 1,500,000 December 24, 2024 8,000 Joint and several liability guarantee 3 years Yes No

Joint and several liability guarantee, offset

Lingyi Technology (Shenzhen) Co., Ltd. December 7, 2024 1,500,000 January 2, 2025 73,000 Land, factory building 5 years No No

pledge

Lingyi Technology (Shenzhen) Co., Ltd. December 7, 2024 1,500,000 June 24, 2025 75,000 Joint liability guarantee 3 years No No Lingyi Technology (Shenzhen) Co., Ltd. December 07, 2024 1,500,000 November 26, 2025 1,157.85 Joint and several liability guarantee 1 year Yes No

Joint and several liability guarantee, quality

Lingyi Technology (Shenzhen) Co., Ltd. December 6, 2025 2,000,000 December 18, 2025 18,240 Equity 3 years No No pledge

Joint and several liability guarantee, quality

Lingyi Technology (Shenzhen) Co., Ltd. December 6, 2025 2,000,000 December 22, 2025 78,755 Equity 3 years No No pledge

Joint and several liability guarantee, quality

Linkyi Technology (Shenzhen) Co., Ltd. December 6, 2025 2,000,000 January 13, 2026 10,961.48 Equity 2.94 years No No

pledge

Lingyi Technology (Shenzhen) Co., Ltd. December 6, 2025 2,000,000 January 22, 2026 16,000 Joint liability guarantee 0.77 years No No Lingyi Technology (Shenzhen) Co., Ltd. December 6, 2025 2,000,000 January 23, 2026 25,000 Joint liability guarantee 3 years No No

Joint and several liability guarantee, quality

Linkyi Technology (Shenzhen) Co., Ltd. December 6, 2025 2,000,000 April 23, 2026 15,200 Equity 2.67 years No No

pledge

Salcomp Technologies (Shenzhen) Co., Ltd. December 8, 2023 2,000,000 March 20, 2024 7,000 Joint liability guarantee 2.97 years Yes No Salcomp Technologies (Shenzhen) Co., Ltd. December 6, 2025 2,000,000 April 29, 2026 6,000 Joint liability guarantee 3 years No No

Joint and several liability guarantee, offset

Shenzhen Dongfang Liangcai Precision Technology Co., Ltd. December 8, 2023 1,500,000 June 28, 2024 7,555.37 Real estate 7.00 years No No mortgage

Joint and several liability guarantee, offset

Shenzhen Dongfang Liangcai Precision Technology Co., Ltd. December 8, 2023 1,500,000 December 20, 2024 7,805.37 Real estate 6.52 years No No

pledge

Shenzhen Linglian CNC Equipment Co., Ltd. January 19, 2023 1,400,000 June 13, 2023 6,125 Joint liability guarantee 3 years Yes No Shenzhen Linglian CNC Equipment Co., Ltd. January 19, 2023 1,400,000 June 27, 2023 5,000 Joint liability guarantee 3 years Yes No Shenzhen Linglie CNC Equipment Co., Ltd. December 8, 2023 1,500,000 February 23, 2024 15,000 Joint and several liability guarantee 3 years No No Shenzhen Linglie CNC Equipment Co., Ltd. December 8, 2023 1,500,000 March 21, 2024 19,600 Joint and several liability guarantee 2.99 years No No Shenzhen Linglie CNC Equipment Co., Ltd. December 08, 2023 1,500,000 September 19, 2024 9,700 Joint and several liability guarantee 2.99 years No No Shenzhen Linglie CNC Equipment Co., Ltd. December 07, 2024 1,500,000 December 24, 2024 8,000 Joint and several liability guarantee 3 years Yes No Shenzhen Linglie CNC Equipment Co., Ltd. December 07, 2024 1,500,000 September 28, 2025 7,200 Joint and several liability guarantee 1.08 years No No Shenzhen Linglie CNC Equipment Co., Ltd. December 06, 2025 2,000,000 January 1, 2026 10,000 Joint and several liability guarantee 0.5 years No No Shenzhen Linglie CNC Equipment Co., Ltd. December 6, 2025 2,000,000 February 12, 2026 10,000 Joint and several liability guarantee 3 years No No Shenzhen Linglie CNC Equipment Co., Ltd. December 6, 2025 2,000,000 February 12, 2026 20,000 Joint and several liability guarantee 3 years No No Shenzhen Linglie CNC Equipment Co., Ltd. December 06, 2025 2,000,000 March 17, 2026 222.97 Joint and several liability guarantee 3 years No No Suzhou Linghui New Energy Technology Co., Ltd. December 8, 2023 2,000,000 October 31, 2024 3,500 Joint liability guarantee 1.50 years Yes No Suzhou Lingyu Electronic Technology Co., Ltd. January 19, 2023 1,400,000 May 15, 2023 7,000 Joint liability guarantee 2.98 years Yes No Suzhou Lingyu Electronic Technology Co., Ltd. January 19, 2023 1,400,000 June 30, 2023 3,070 Joint liability guarantee 3 years Yes No Suzhou Lingyu Electronic Technology Co., Ltd. January 19, 2023 1,400,000 September 27, 2023 3,040 Joint liability guarantee 2.76 years Yes No Suzhou Lingyu Electronic Technology Co., Ltd. December 08, 2023 1,500,000 February 29, 2024 1,996 Joint liability guarantee 2.33 years Yes No Suzhou Lingyu Electronic Technology Co., Ltd. December 07, 2024 1,500,000 September 28, 2025 12,500 Joint liability guarantee 3 years No No

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Full text of the 2026 semi-annual report of Guangdong Lingyi Intelligent Manufacturing Co., Ltd. Suzhou Lingyu Electronic Technology Co., Ltd. December 07, 2024 1,500,000 October 29, 2025 5,000 Joint liability guarantee 2.92 years No No Suzhou Lingyu Electronic Technology Co., Ltd. December 07, 2024 1,500,000 October 31, 2025 154.18 Joint liability guarantee 5 years No No Suzhou Lingyu Electronic Technology Co., Ltd. December 07, 2024 1,500,000 November 14, 2025 937.98 Joint liability guarantee 4.96 years No No Suzhou Lingyu Electronic Technology Co., Ltd. December 06, 2025 2,000,000 January 30, 2026 888.75 Joint and several liability guarantee 4.75 years No No Suzhou Lingyu Electronic Technology Co., Ltd. December 6, 2025 2,000,000 April 27, 2026 422.21 Joint and several liability guarantee 4.52 years No No Yangzhou Linghuang Technology Co., Ltd. December 6, 2025 2,000,000 January 22, 2026 7,000 Joint and several liability guarantee 1 year No No Changzhou Lingsheng New Energy Technology Co., Ltd. December 6, 2025 2,000,000 January 21, 2026 320 Joint and several liability guarantee 0.5 year No No Changzhou Lingsheng New Energy Technology Co., Ltd. December 6, 2025 2,000,000 January 21, 2026 311.06 Joint liability guarantee 0.5 years No No Changzhou Lingsheng New Energy Technology Co., Ltd. December 6, 2025 2,000,000 January 21, 2026 8.94 Joint liability guarantee 0.5 years No No Changzhou Lingsheng New Energy Technology Co., Ltd. December 06, 2025 2,000,000 January 21, 2026 1,760 Joint liability guarantee 0.5 years No No Changzhou Lingsheng New Energy Technology Co., Ltd. December 6, 2025 2,000,000 March 18, 2026 1,200 Joint and several liability guarantee 0.5 years No No Dongguan Lingjie Metal Precision Manufacturing Technology Co., Ltd. December 07, 2024 2,000,000 July 29, 2025 4,000 Joint and several liability guarantee 0.49 years Yes No Dongguan Lingjie Metal Precision Manufacturing Technology Co., Ltd. December 07, 2024 2,000,000 August 21, 2025 8,000 Joint and several liability guarantee 0.48 years Yes No Dongguan Lingjie Metal Precision Manufacturing Technology Co., Ltd. December 7, 2024 2,000,000 August 21, 2025 2,000 Joint and several liability guarantee 0.48 years Yes No Dongguan Lingjie Metal Precision Manufacturing Technology Co., Ltd. December 07, 2024 2,000,000 October 24, 2025 15,000 Joint and several liability guarantee 0.24 years Yes No Dongguan Lingjie Metal Precision Manufacturing Technology Co., Ltd. December 06, 2025 2,000,000 February 9, 2026 2,700 Joint and several liability guarantee 0.5 years No No Dongguan Lingjie Metal Precision Manufacturing Technology Co., Ltd. December 06, 2025 2,000,000 February 9, 2026 7,300 Joint and several liability guarantee 0.5 years No No Dongguan Lingjie Metal Precision Manufacturing Technology Co., Ltd. December 06, 2025 2,000,000 March 25, 2026 4,800 Joint and several liability guarantee 0.5 years No No Dongguan Lingjie Metal Precision Manufacturing Technology Co., Ltd. December 6, 2025 2,000,000 March 25, 2026 4,000 Joint and several liability guarantee 0.5 years No No Dongguan Lingjie Metal Precision Manufacturing Technology Co., Ltd. December 6, 2025 2,000,000 April 23, 2026 7,200 Joint and several liability guarantee 0.5 years No No Dongguan Linyi Precision Manufacturing Technology Co., Ltd. December 07, 2024 1,500,000 July 24, 2025 177.7 Joint and several liability guarantee 0.49 years Yes No Dongguan Lingyi Precision Manufacturing Technology Co., Ltd. December 7, 2024 1,500,000 July 24, 2025 485.19 Joint liability guarantee 0.49 years Yes No Dongguan Lingyi Precision Manufacturing Technology Co., Ltd. December 7, 2024 1,500,000 August 21, 2025 9,000 Joint and several liability guarantee 0.5 years Yes No Dongguan Linyi Precision Manufacturing Technology Co., Ltd. December 07, 2024 1,500,000 August 21, 2025 4,000 Joint and several liability guarantee 0.5 years Yes No Dongguan Lingyi Precision Manufacturing Technology Co., Ltd. December 07, 2024 1,500,000 August 25, 2025 80.56 Joint and several liability guarantee 0.5 years Yes No Dongguan Lingyi Precision Manufacturing Technology Co., Ltd. December 6, 2025 2,000,000 January 16, 2026 5,600 Joint and several liability guarantee 0.5 years No No Dongguan Lingyi Precision Manufacturing Technology Co., Ltd. December 6, 2025 2,000,000 March 19, 2026 11,000 Joint and several liability guarantee 0.5 years No No Dongguan Lingyi Precision Manufacturing Technology Co., Ltd. December 6, 2025 2,000,000 March 19, 2026 2,000 Joint and several liability guarantee 0.5 years No No Dongguan Lingyi Precision

Manufacturing Technology Co., Ltd. December 6, 2025 2,000,000 March 24, 2026 5,600 Joint and several liability guarantee 0.5 years No No Dongguan Lingyi Precision Manufacturing Technology Co., Ltd. December 6, 2025 2,000,000 April 23, 2026 4,800 Joint and several liability guarantee 0.5 years No No Dongguan Shengxiang Precision Metal Co., Ltd. December 7, 2024 1,500,000 August 18, 2025 5,000 Joint liability guarantee 0.49 years Yes No Dongguan Shengxiang Precision Metal Co., Ltd. December 7, 2024 1,500,000 August 18, 2025 5,000 Joint liability guarantee 0.49 years Yes No Dongguan Shengxiang Precision Metal Co., Ltd. December 07, 2024 1,500,000 August 18, 2025 8,000 Joint liability guarantee 0.49 years Yes No Dongguan Shengxiang Precision Metal Co., Ltd. December 07, 2024 1,500,000 October 24, 2025 1,700 Joint liability guarantee 0.24 years Yes No Dongguan Shengxiang Precision Metal Co., Ltd. December 07, 2024 1,500,000 October 24, 2025 2,300 Joint liability guarantee 0.24 years Yes No Dongguan Shengxiang Precision Metal Co., Ltd. December 07, 2024 1,500,000 October 24, 2025 1,000 Joint liability guarantee 0.24 years Yes No Dongguan Shengxiang Precision Metal Co., Ltd. December 06, 2025 2,000,000 February 9, 2026 2,200 Joint liability guarantee 0.5 years No No Dongguan Shengxiang Precision Metal Co., Ltd. December 6, 2025 2,000,000 February 9, 2026 6,700 Joint liability guarantee 0.5 years No No

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Full text of the 2026 semi-annual report of Guangdong Lingyi Intelligent Manufacturing Co., Ltd. Dongguan Shengxiang Precision Metal Co., Ltd. December 06, 2025 2,000,000 February 9, 2026 1,100 Joint and several liability guarantee 0.5 years No No Dongguan Shengxiang Precision Metal Co., Ltd. December 06, 2025 2,000,000 May 26, 2026 887.09 Joint and several liability guarantee 0.25 years No No Dongguan Shengxiang Precision Metal Co., Ltd. December 6, 2025 2,000,000 May 26, 2026 4,812.97 Joint and several liability guarantee 0.5 year No No Dongguan Shengxiang Precision Metal Co., Ltd. December 6, 2025 2,000,000 May 27, 2026 1,700 Joint and several liability guarantee 0.5 years No No Dongtai Lingyu Intelligent Technology Co., Ltd. December 07, 2024 1,500,000 December 4, 2025 8,000 Joint and several liability guarantee 0.5 years Yes No Dongtai Lingyu Intelligent Technology Co., Ltd. December 6, 2025 2,000,000 March 13, 2026 12,000 Joint liability guarantee 0.5 years No No Dongtai Lingyu Intelligent Technology Co., Ltd. December 6, 2025 2,000,000 April 14, 2026 5,000 Joint liability guarantee 0.5 years No No Dongtai Lingyu Intelligent Technology Co., Ltd. December 6, 2025 2,000,000 April 14, 2026 5,000 Joint liability guarantee 0.5 years No No Dongtai Lingyu Intelligent Technology Co., Ltd. December 6, 2025 2,000,000 June 26, 2026 1,600 Joint liability guarantee 0.5 years No No Dongtai Lingyu Intelligent Technology Co., Ltd. December 06, 2025 2,000,000 June 26, 2026 2,400 Joint liability guarantee 0.5 years No No Dongtai Lingyu Intelligent Technology Co., Ltd. December 6, 2025 2,000,000 June 26, 2026 2,400 Joint and several liability guarantee 0.5 years No No Dongtai Lingyu Intelligent Technology Co., Ltd. December 06, 2025 2,000,000 June 26, 2026 2,400 Joint and several liability guarantee 0.5 years No No Dongtai Lingyu Intelligent Technology Co., Ltd. December 06, 2025 2,000,000 June 26, 2026 2,400 Joint and several liability guarantee 0.5 years No No Dongtai Lingyu Intelligent Technology Co., Ltd. December 06, 2025 2,000,000 June 26, 2026 2,400 Joint and several liability guarantee 0.5 years No No Dongtai Lingyu Intelligent Technology Co., Ltd. December 6, 2025 2,000,000 June 26, 2026 2,400 Joint liability guarantee 0.5 years No No Fujian Lingfu New Energy Technology Co., Ltd. December 6, 2025 2,000,000 January 26, 2026 2,400 Joint liability guarantee 0.5 years No No Fujian Lingfu New Energy Technology Co., Ltd. December 6, 2025 2,000,000 March 17, 2026 1,200 Joint and several liability guarantee 0.5 years No No Jiangmen Anci Electronics Co., Ltd. December 6, 2025 2,000,000 February 11, 2026 220.75 Joint and several liability guarantee 0.5 years No No Jiangmen Anci Electronics Co., Ltd. December 6, 2025 2,000,000 February 11, 2026 67.42 Joint and several liability guarantee 0.5 years No No Jiangmen Anci Electronics Co., Ltd. December 6, 2025 2,000,000 February 11, 2026 211.29 Joint and several liability guarantee 0.5 years No No Jiangmen Anci Electronics Co., Ltd. December 6, 2025 2,000,000 February 11, 2026 94.61 Joint liability guarantee 0.5 years No No Jiangmen Anci Electronics Co., Ltd. December 6, 2025 2,000,000 February 11, 2026 67.29 Joint and several liability guarantee 0.5 years No No Jiangmen Anci Electronics Co., Ltd. December 06, 2025 2,000,000 February 11, 2026 56.16 Joint and several liability guarantee 0.5 years No No Jiangmen Anci Electronics Co., Ltd. December 6, 2025 2,000,000 February 11, 2026 222.97 Joint liability guarantee 0.5 years No No Lingshengcheng Technology (Jiangsu) Co., Ltd. December 07, 2024 1,500,000 August 6, 2025 800 Joint and several liability guarantee 0.5 years Yes No Lingshengcheng Technology (Jiangsu) Co., Ltd. December 07, 2024 1,500,000 August 06, 2025 1,600 Joint and several liability guarantee 0.5 years Yes No Lingshengcheng Technology (Jiangsu) Co., Ltd. December 07, 2024 1,500,000 August 07, 2025 5,000 Joint and several liability guarantee 0.5 years Yes No Lingshengcheng Technology (Jiangsu) Co., Ltd. December 07, 2024 1,500,000 August 7, 2025 2,000 Joint and several liability guarantee 0.5 years Yes No Lingshengcheng Technology (Jiangsu) Co., Ltd. December 07, 2024 1,500,000 August 7, 2025 3,000 Joint and several liability guarantee 0.5 years Yes No Lingshengcheng Technology

Technology (Jiangsu) Co., Ltd. December 07, 2024 1,500,000 August 7, 2025 7,000 Joint liability guarantee 0.5 years Yes No Lingshengcheng Technology (Jiangsu) Co., Ltd. December 07, 2024 1,500,000 September 25, 2025 1,222.85 Joint and several liability guarantee 0.27 years Yes No Lingshengcheng Technology (Jiangsu) Co., Ltd. December 07, 2024 1,500,000 September 25, 2025 176.55 Joint and several liability guarantee 0.29 years Yes No Lingshengcheng Technology (Jiangsu) Co., Ltd. December 07, 2024 1,500,000 September 25, 2025 168 Joint and several liability guarantee 0.49 years Yes No Lingshengcheng Technology (Jiangsu) Co., Ltd. December 07, 2024 1,500,000 September 25, 2025 199.92 Joint and several liability guarantee 0.5 years Yes No Lingshengcheng Technology (Jiangsu) Co., Ltd. December 07, 2024 1,500,000 October 16, 2025 3,200 Joint and several liability guarantee 0.25 years Yes No Lingshengcheng Technology (Jiangsu) Co., Ltd. December 07, 2024 1,500,000 October 16, 2025 4,000 Joint and several liability guarantee 0.25 years Yes No Lingshengcheng Technology (Jiangsu) Co., Ltd. December 07, 2024 1,500,000 October 17, 2025 13.35 Joint and several liability guarantee 0.48 years Yes No Lingshengcheng Technology (Jiangsu) Co., Ltd. December 07, 2024 1,500,000 October 17, 2025 855.12 Joint and several liability guarantee 0.25 years Yes No

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Full text of the 2026 semi-annual report of Guangdong Lingyi Intelligent Manufacturing Co., Ltd. Lingshengcheng Technology (Jiangsu) Co., Ltd. December 07, 2024 1,500,000 October 17, 2025 128.92 Joint and several liability guarantee 0.28 years Yes No Lingshengcheng Technology (Jiangsu) Co., Ltd. December 07, 2024 1,500,000 October 20, 2025 4,800 Joint and several liability guarantee 0.25 years Yes No Lingshengcheng Technology (Jiangsu) Co., Ltd. December 07, 2024 1,500,000 October 24, 2025 1.13 Joint and several liability guarantee 0.49 years Yes No Lingshengcheng Technology (Jiangsu) Co., Ltd. December 07, 2024 1,500,000 October 24, 2025 119.07 Joint and several liability guarantee 0.25 years Yes No Lingshengcheng Technology (Jiangsu) Co., Ltd. December 07, 2024 1,500,000 December 3, 2025 5,680 Joint and several liability guarantee 0.5 years Yes No Lingshengcheng Technology (Jiangsu) Co., Ltd. December 6, 2025 2,000,000 December 8, 2025 4,400 Joint and several liability guarantee 0.5 years Yes No Lingshengcheng Technology (Jiangsu) Co., Ltd. December 06, 2025 2,000,000 December 10, 2025 142.38 Joint and several liability guarantee 0.21 years Yes Noling Shengcheng Technology (Jiangsu) Co., Ltd. December 6, 2025 2,000,000 December 12, 2025 1,360 Joint liability guarantee 0.5 years Yes Noling Shengcheng Technology (Jiangsu) Co., Ltd. December 6, 2025 2,000,000 January 16, 2026 4,800 Joint and several liability guarantee 0.5 years No No Lingshengcheng Technology (Jiangsu) Co., Ltd. December 06, 2025 2,000,000 January 16, 2026 5,000 Joint and several liability guarantee 0.49 years No No Lingshengcheng Technology (Jiangsu) Co., Ltd. December 06, 2025 2,000,000 February 10, 2026 616 Joint and several liability guarantee 0.5 years No No Lingshengcheng Technology (Jiangsu) Co., Ltd. December 06, 2025 2,000,000 March 5, 2026 850.2 Joint and several liability guarantee 0.49 years No No Lingshengcheng Technology (Jiangsu) Co., Ltd. December 06, 2025 2,000,000 March 5, 2026 2,201.62 Joint and several liability guarantee 0.24 years Yes No Lingshengcheng Technology (Jiangsu) Co., Ltd. December 06, 2025 2,000,000 March 5, 2026 43.95 Joint and several liability guarantee 0.31 years Yes No Ling Sheng City Technology (Jiangsu) Co., Ltd. December 6, 2025 2,000,000 March 5, 2026 9.45 Joint liability guarantee 0.47 years No No Ling Sheng City Technology (Jiangsu) Co., Ltd. December 06, 2025 2,000,000 March 10, 2026 833.11 Joint and several liability guarantee 0.17 years Yes No Lingshengcheng Technology (Jiangsu) Co., Ltd. December 06, 2025 2,000,000 March 10, 2026 40.94 Joint and several liability guarantee 0.08 years Yes No Lingshengcheng Technology (Jiangsu) Co., Ltd. December 06, 2025 2,000,000 March 10, 2026 369.52 Joint and several liability guarantee 0.49 years No No Lingshengcheng Technology (Jiangsu) Co., Ltd. December 06, 2025 2,000,000 March 10, 2026 2,420.03 Joint and several liability guarantee 0.25 years Yes No Lingshengcheng Technology (Jiangsu) Co., Ltd. December 6, 2025 2,000,000 April 28, 2026 5,000 Joint and several liability guarantee 0.5 years No No Lingshengcheng Technology (Jiangsu) Co., Ltd. December 6, 2025 2,000,000 April 28, 2026 5,000 Joint and several liability guarantee 0.5 years No Noling Shengcheng Technology (Jiangsu) Co., Ltd. December 6, 2025 2,000,000 May 18, 2026 8,000 Joint and several liability guarantee 0.5 years No Noling Shengcheng Technology (Jiangsu) Co., Ltd. December 6, 2025 2,000,000 May 22, 2026 8,000 Joint and several liability guarantee 0.5 years No No Lingshengcheng Technology (Jiangsu) Co., Ltd. December 06, 2025 2,000,000 June 23, 2026 2,400 Joint and several liability guarantee 0.5 years No No Lingshengcheng Technology (Jiangsu) Co., Ltd. December 06, 2025 2,000,000 June 23, 2026 1,600 Joint and several liability guarantee 0.5 years No No Lingsheng Electronic Technology (Shenzhen) Co., Ltd. December 07, 2024 2,000,000 August 18, 2025 5,000 Joint and several liability guarantee 0.49 years Yes No Lingsheng Electronic Technology (Shenzhen) Co., Ltd. December 07, 2024 2,000,000 August 21, 2025 10,000 Joint and several liability guarantee 0.48 years Yes No Lingsheng Electronic Technology (Shenzhen) Co., Ltd. December 7, 2024 2,000,000 October 15, 2025 43.43 Joint and several liability guarantee 0.48 years Yes No Lingsheng Electronic Technology (Shenzhen) Co., Ltd. 2

December 07, 2024 2,000,000 October 15, 2025 2,756.38 Joint and several liability guarantee 0.25 years Yes No Lingsheng Electronic Technology (Shenzhen) Co., Ltd. December 07, 2024 2,000,000 October 15, 2025 35.37 Joint and several liability guarantee 0.44 years Yes No Lingsheng Electronic Technology (Shenzhen) Co., Ltd. December 07, 2024 2,000,000 October 15, 2025 256.66 Joint liability guarantee 0.28 years Yes No Lingsheng Electronic Technology (Shenzhen) Co., Ltd. December 07, 2024 2,000,000 November 21, 2025 2,800 Joint and several liability guarantee 0.49 years Yes No Lingsheng Electronic Technology (Shenzhen) Co., Ltd. December 07, 2024 2,000,000 November 21, 2025 2,800 Joint and several liability guarantee 0.49 years Yes No Lingsheng Electronic Technology (Shenzhen) Co., Ltd. December 07, 2024 2,000,000 November 21, 2025 2,400 Joint and several liability guarantee 0.49 years Yes No Lingsheng Electronic Technology (Shenzhen) Co., Ltd. December 6, 2025 2,000,000 January 23, 2026 4,039.95 Joint and several liability guarantee 0.25 years Yes No Lingsheng Electronic Technology (Shenzhen) Co., Ltd. December 6, 2025 2,000,000 January 23, 2026 798.01 Joint and several liability guarantee 0.49 years No No Lingsheng Electronic Technology (Shenzhen) Co., Ltd. December 6, 2025 2,000,000 January 23, 2026 5.85 Joint and several liability guarantee 0.13 years Yes Folingsheng Electronic Technology (Shenzhen) Co., Ltd. December 6, 2025 2,000,000 January 23, 2026 2,087.2 Joint liability guarantee 0.21 years Yes No

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Full text of the 2026 semi-annual report of Guangdong Lingyi Intelligent Manufacturing Co., Ltd. Lingsheng Electronic Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 January 23, 2026 319.29 Joint liability guarantee 0.26 years Yes No Lingsheng Electronic Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 March 24, 2026 807.86 Joint and several liability guarantee 0.21 years Yes No Lingsheng Electronic Technology (Shenzhen) Co., Ltd. December 6, 2025 2,000,000 March 24, 2026 38.86 Joint and several liability guarantee 0.42 years No No Lingsheng Electronic Technology (Shenzhen) Co., Ltd. December 6, 2025 2,000,000 March 24, 2026 3,902.28 Joint and several liability guarantee 0.24 years Yes No Lingsheng Electronic Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 March 24, 2026 757.27 Joint and several liability guarantee 0.48 years No No Lingsheng Electronic Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 March 24, 2026 115.24 Joint liability guarantee 0.34 years No No Lingsheng Electronic Technology (Shenzhen) Co., Ltd. December 6, 2025 2,000,000 March 24, 2026 46.44 Joint and several liability guarantee 0.13 years Yes No Lingsheng Electronic Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 April 9, 2026 19.86 Joint and several liability guarantee 0.49 years No No Lingsheng Electronic Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 April 9, 2026 474.89 Joint and several liability guarantee 0.25 years No No Lingsheng Electronic Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 April 9, 2026 2,268.15 Joint and several liability guarantee 0.25 years No No Lingsheng Electronic Technology (Shenzhen) Co., Ltd. December 6, 2025 2,000,000 April 9, 2026 5.16 Joint and several liability guarantee 0.49 years No No Lingsheng Electronic Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 April 9, 2026 282.13 Joint and several liability guarantee 0.49 years No No Lingsheng Electronic Technology (Shenzhen) Co., Ltd. December 6, 2025 2,000,000 April 9, 2026 72.33 Joint liability guarantee 0.25 years No No Lingsheng Electronic Technology (Shenzhen) Co., Ltd. December 6, 2025 2,000,000 April 21, 2026 2,400 Joint and several liability guarantee 0.5 years No No Lingsheng Electronic Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 April 24, 2026 567.88 Joint and several liability guarantee 0.21 years No No Lingsheng Electronic Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 April 24, 2026 786.74 Joint and several liability guarantee 0.49 years No No Lingsheng Electronic Technology (Shenzhen) Co., Ltd. December 6, 2025 2,000,000 April 24, 2026 254.38 Joint and several liability guarantee 0.34 years No No Lingsheng Electronic Technology (Shenzhen) Co., Ltd. December 6, 2025 2,000,000 April 24, 2026 36.14 Joint and several liability guarantee 0.13 years Yes No Lingsheng Electronic Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 April 24, 2026 2,455.43 Joint and several liability guarantee 0.25 years No No Lingsheng Electronic Technology (Shenzhen) Co., Ltd. December 6, 2025 2,000,000 May 13, 2026 1,580.54 Joint liability guarantee 0.25 years No No Lingsheng Electronic Technology (Shenzhen) Co., Ltd. December 6, 2025 2,000,000 May 21, 2026 14,000 Joint and several liability guarantee 0.5 years No No Lingsheng Electronic Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 May 21, 2026 6,000 Joint and several liability guarantee 0.5 years No No Lingsheng Electronic Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 June 5, 2026 221.94 Joint and several liability guarantee 0.47 years No No Lingsheng Electronic Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 June 5, 2026 262.12 Joint and several liability guarantee 0.49 years No No Lingsheng Electronic Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 June 5, 2026 107.62 Joint and several liability guarantee 0.49 years No No Lingsheng Electronic Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 June 5, 2026 381.18 Joint and several liability guarantee 0.27 years No No Lingsheng Electronic Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 June 5, 2026 1,374.75 Joint and several liability guarantee 0.27 years No No Lingsheng Electronic Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,0

00 June 5, 2026 240.14 Joint and several liability guarantee 0.39 years No No Lingsheng Electronic Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 June 5, 2026 1,296.65 Joint and several liability guarantee 0.27 years No No Lingsheng Electronic Technology (Shenzhen) Co., Ltd. December 6, 2025 2,000,000 June 22, 2026 4.93 Joint and several liability guarantee 0.35 years No No Lingsheng Electronic Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 June 22, 2026 1.44 Joint and several liability guarantee 0.26 years No No Lingsheng Electronic Technology (Shenzhen) Co., Ltd. December 6, 2025 2,000,000 June 22, 2026 905.9 Joint liability guarantee 0.26 years No No Lingsheng Electronic Technology (Shenzhen) Co., Ltd. December 6, 2025 2,000,000 June 22, 2026 36.48 Joint and several liability guarantee 0.49 years No No Lingyi Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 March 25, 2026 4,000 Joint and several liability guarantee 0.5 years No No Lingyi Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 March 25, 2026 3,200 Joint and several liability guarantee 0.5 years No No Lingyi Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 March 25, 2026 3,200 Joint and several liability guarantee 0.5 years No No Lingyi Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 April 21, 2026 6,400 Joint and several liability guarantee 0.5 years No No Lingyi Technology (Shenzhen) Co., Ltd. December 7, 2024 1,500,000 July 29, 2025 4,000 Joint and several liability guarantee 0.49 years Yes No

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Full text of the 2026 semi-annual report of Guangdong Lingyi Intelligent Manufacturing Co., Ltd. Lingyi Technology (Shenzhen) Co., Ltd. December 07, 2024 1,500,000 July 29, 2025 3,200 Joint liability guarantee 0.49 years Yes No Lingyi Technology (Shenzhen) Co., Ltd. December 07, 2024 1,500,000 July 29, 2025 1,600 Joint and several liability guarantee 0.49 years Yes No Lingyi Technology (Shenzhen) Co., Ltd. December 07, 2024 1,500,000 August 1, 2025 5,000 Joint and several liability guarantee 0.5 years Yes No Lingyi Technology (Shenzhen) Co., Ltd. December 07, 2024 1,500,000 September 26, 2025 2,471.96 Joint and several liability guarantee 0.27 years Yes No Lingyi Technology (Shenzhen) Co., Ltd. December 07, 2024 1,500,000 September 26, 2025 456 Joint and several liability guarantee 0.49 years Yes No Lingyi Technology (Shenzhen) Co., Ltd. December 07, 2024 1,500,000 September 26, 2025 419.81 Joint and several liability guarantee 0.49 years Yes No Lingyi Technology (Shenzhen) Co., Ltd. December 07, 2024 1,500,000 October 22, 2025 269.9 Joint and several liability guarantee 0.5 years Yes No Lingyi Technology (Shenzhen) Co., Ltd. December 07, 2024 1,500,000 October 22, 2025 2,507.19 Joint and several liability guarantee 0.22 years Yes No Lingyi Technology (Shenzhen) Co., Ltd. December 07, 2024 1,500,000 October 22, 2025 788.47 Joint and several liability guarantee 0.5 years Yes No Lingyi Technology (Shenzhen) Co., Ltd. December 07, 2024 1,500,000 October 22, 2025 3,201.03 Joint and several liability guarantee 0.25 years Yes No Lingyi Technology (Shenzhen) Co., Ltd. December 07, 2024 1,500,000 November 06, 2025 101.65 Joint and several liability guarantee 0.49 years Yes No Lingyi Technology (Shenzhen) Co., Ltd. December 07, 2024 1,500,000 November 06, 2025 49.48 Joint and several liability guarantee 0.30 years Yes No Lingyi Technology (Shenzhen) Co., Ltd. December 07, 2024 1,500,000 November 6, 2025 471.49 Joint and several liability guarantee 0.25 years Yes No Lingyi Technology (Shenzhen) Co., Ltd. December 07, 2024 1,500,000 November 6, 2025 3,952.39 Joint and several liability guarantee 0.25 years Yes No Lingyi Technology (Shenzhen) Co., Ltd. December 07, 2024 1,500,000 November 20, 2025 650.55 Joint and several liability guarantee 0.49 years Yes No Lingyi Technology (Shenzhen) Co., Ltd. December 07, 2024 1,500,000 November 20, 2025 3,937.25 Joint and several liability guarantee 0.27 years Yes No Lingyi Technology (Shenzhen) Co., Ltd. December 07, 2024 1,500,000 November 20, 2025 2,567.3 Joint and several liability guarantee 0.22 years Yes No Lingyi Technology (Shenzhen) Co., Ltd. December 07, 2024 1,500,000 November 20, 2025 196.6 Joint and several liability guarantee 0.49 years Yes No Lingyi Technology (Shenzhen) Co., Ltd. December 07, 2024 1,500,000 November 20, 2025 516.57 Joint and several liability guarantee 0.15 years Yes No Lingyi Technology (Shenzhen) Co., Ltd. December 07, 2024 1,500,000 December 05, 2025 9.56 Joint and several liability guarantee 0.30 years Yes No Lingyi Technology (Shenzhen) Co., Ltd. December 07, 2024 1,500,000 December 05, 2025 4,157.06 Joint and several liability guarantee 0.25 years Yes No Lingyi Technology (Shenzhen) Co., Ltd. December 07, 2024 1,500,000 December 05, 2025 12.77 Joint and several liability guarantee 0.39 years Yes No Lingyi Technology (Shenzhen) Co., Ltd. December 07, 2024 1,500,000 December 5, 2025 64.76 Joint and several liability guarantee 0.10 years Yes No Lingyi Technology (Shenzhen) Co., Ltd. December 07, 2024 1,500,000 December 5, 2025 160.89 Joint and several liability guarantee 0.49 years Yes No Lingyi Technology (Shenzhen) Co., Ltd. December 07, 2024 1,500,000 December 05, 2025 592.91 Joint and several liability guarantee 0.30 years Yes No Lingyi Technology (Shenzhen) Co., Ltd. December 07, 2024 1,500,000 December 05, 2025 105.78 Joint and several liability guarantee 0.22 years Yes No Lingyi Technology (Shenzhen) Co., Ltd. December 07, 2024 1,500,000 December 05, 2025 19.62 Joint and several liability guarantee 0.49 years Yes No Lingyi Technology (Shenzhen) Co., Ltd. December 07, 2024 1,500,000 December 05, 2025 6.6 Joint and several liability guarantee 0.47 years Yes No Lingyi Technology (Shenzhen) Co., Ltd. December 07, 2024

Day 1,500,000 December 5, 2025 584.79 Joint and several liability guarantee 0.14 years Yes No Lingyi Technology (Shenzhen) Co., Ltd. December 07, 2024 1,500,000 December 05, 2025 359.48 Joint and several liability guarantee 0.25 years Yes No Lingyi Technology (Shenzhen) Co., Ltd. December 6, 2025 2,000,000 December 22, 2025 693.88 Joint and several liability guarantee 0.49 years Yes No Lingyi Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 December 22, 2025 878.46 Joint and several liability guarantee 0.25 years Yes No Lingyi Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 December 22, 2025 1,606.32 Joint liability guarantee 0.21 years Yes No Lingyi Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 December 22, 2025 429.45 Joint and several liability guarantee 0.04 years Yes No Lingyi Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 December 22, 2025 108.56 Joint and several liability guarantee 0.14 years Yes No Lingyi Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 January 9, 2026 320 Joint and several liability guarantee 0.49 years No No Lingyi Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 January 9, 2026 3,970.9 Joint and several liability guarantee 0.25 years Yes No Lingyi Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 January 9, 2026 124.29 Joint liability guarantee 0.49 years No No

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Full text of the 2026 semi-annual report of Guangdong Lingyi Intelligent Manufacturing Co., Ltd. Lingyi Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 January 9, 2026 9.13 Joint liability guarantee 0.30 years Yes No Lingyi Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 January 9, 2026 56.89 Joint liability guarantee 0.21 years Yes No Lingyi Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 February 9, 2026 4,000 Joint and several liability guarantee 0.48 years No No Lingyi Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 February 9, 2026 305.77 Joint liability guarantee 0.48 years No No Lingyi Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 February 9, 2026 3,533.22 Joint and several liability guarantee 0.24 years Yes No Lingyi Technology (Shenzhen) Co., Ltd. December 6, 2025 2,000,000 February 9, 2026 22.49 Joint and several liability guarantee 0.46 years No No Lingyi Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 February 9, 2026 3,200 Joint and several liability guarantee 0.48 years No No Lingyi Technology (Shenzhen) Co., Ltd. December 6, 2025 2,000,000 March 25, 2026 4,800 Joint liability guarantee 0.5 years No No Lingyi Technology (Shenzhen) Co., Ltd. December 6, 2025 2,000,000 April 21, 2026 4,800 Joint liability guarantee 0.5 years No No Lingyi Technology (Shenzhen) Co., Ltd. December 6, 2025 2,000,000 April 21, 2026 2,400 Joint liability guarantee 0.5 years No No Lingyi Technology (Shenzhen) Co., Ltd. December 6, 2025 2,000,000 May 13, 2026 1,994.73 Joint and several liability guarantee 0.25 years No No Lingyi Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 May 13, 2026 67.92 Joint and several liability guarantee 0.28 years No No Lingyi Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 May 13, 2026 73.01 Joint liability guarantee 0.49 years No No Lingyi Technology (Shenzhen) Co., Ltd. December 6, 2025 2,000,000 May 20, 2026 20,000 Joint and several liability guarantee 0.5 years No No Lingyi Technology (Shenzhen) Co., Ltd. December 6, 2025 2,000,000 May 21, 2026 10,000 Joint and several liability guarantee 0.5 years No No Lingyi Technology (Shenzhen) Co., Ltd. December 6, 2025 2,000,000 June 10, 2026 2,000 Joint and several liability guarantee 0.5 years No No Lingyi Technology (Shenzhen) Co., Ltd. December 6, 2025 2,000,000 June 10, 2026 10,000 Joint and several liability guarantee 0.5 years No No Lingyi Technology (Shenzhen) Co., Ltd. December 6, 2025 2,000,000 June 10, 2026 8,000 Joint and several liability guarantee 0.5 years No No Shenzhen Linglan CNC Equipment Co., Ltd. December 7, 2024 1,500,000 August 21, 2025 2,000 Joint and several liability guarantee 0.48 years Yes No Shenzhen Linglan CNC Equipment Co., Ltd. December 07, 2024 1,500,000 August 21, 2025 3,000 Joint liability guarantee 0.48 years Yes No Shenzhen Linglie CNC Equipment Co., Ltd. December 07, 2024 1,500,000 August 22, 2025 5,000 Joint liability guarantee 0.48 years Yes No Shenzhen Linglie CNC Equipment Co., Ltd. December 07, 2024 1,500,000 November 25, 2025 1,300 Joint and several liability guarantee 0.5 years Yes No Shenzhen Linglie CNC Equipment Co., Ltd. December 07, 2024 1,500,000 November 25, 2025 2,100 Joint and several liability guarantee 0.5 years Yes No Shenzhen Linglie CNC Equipment Co., Ltd. December 07, 2024 1,500,000 November 25, 2025 3,600 Joint liability guarantee 0.5 years Yes No Shenzhen Linglie CNC Equipment Co., Ltd. December 07, 2024 1,500,000 November 25, 2025 13,000 Joint liability guarantee 0.5 years Yes No Shenzhen Linglie CNC Equipment Co., Ltd. December 06, 2025 2,000,000 December 24, 2025 424.63 Joint and several liability guarantee 0.49 years Yes No Shenzhen Linglie CNC Equipment Co., Ltd. December 06, 2025 2,000,000 December 24, 2025 170.02 Joint and several liability guarantee 0.13 years Yes No Shenzhen Linglie CNC Equipment Co., Ltd. December 06, 2025 2,000,000 December 24, 2025 3,112.25 Joint liability guarantee 0.24 years Yes No Shenzhen Linglie CNC Equipment Co., Ltd. December 06, 2025 2,000

,000 December 24, 2025 924.5 Joint and several liability guarantee 0.21 years Yes No Shenzhen Linglie CNC Equipment Co., Ltd. December 06, 2025 2,000,000 April 9, 2026 434.13 Joint and several liability guarantee 0.25 years No No Shenzhen Linglie CNC Equipment Co., Ltd. December 6, 2025 2,000,000 May 13, 2026 1,740.88 Joint and several liability guarantee 0.25 years No No Shenzhen Linglie CNC Equipment Co., Ltd. December 06, 2025 2,000,000 May 13, 2026 97.59 Joint and several liability guarantee 0.28 years No No Shenzhen Linglie CNC Equipment Co., Ltd. December 6, 2025 2,000,000 May 13, 2026 124.46 Joint liability guarantee 0.37 years No No Shenzhen Linglie CNC Equipment Co., Ltd. December 6, 2025 2,000,000 May 13, 2026 13.23 Joint liability guarantee 0.45 years No No Shenzhen Linglie CNC Equipment Co., Ltd. December 06, 2025 2,000,000 May 13, 2026 508.36 Joint liability guarantee 0.49 years No No Shenzhen Linglie CNC Equipment Co., Ltd. December 06, 2025 2,000,000 May 22, 2026 11,050 Joint and several liability guarantee 0.5 years No No Shenzhen Linglie CNC Equipment Co., Ltd. December 6, 2025 2,000,000 June 22, 2026 230.08 Joint and several liability guarantee 0.49 years No No Shenzhen Linglie CNC Equipment Co., Ltd. December 6, 2025 2,000,000 June 22, 2026 389.68 Joint liability guarantee 0.49 years No No

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Full text of the 2026 semi-annual report of Guangdong Lingyi Intelligent Manufacturing Co., Ltd. Shenzhen Linglie CNC Equipment Co., Ltd. December 06, 2025 2,000,000 June 22, 2026 565.78 Joint liability guarantee 0.26 years No No Shenzhen Linglie CNC Equipment Co., Ltd. December 06, 2025 2,000,000 June 22, 2026 27.94 Joint and several liability guarantee 0.49 years No No Shenzhen Linglie CNC Equipment Co., Ltd. December 6, 2025 2,000,000 June 22, 2026 530.57 Joint and several liability guarantee 0.26 years No No Shenzhen Linglie CNC Equipment Co., Ltd. December 6, 2025 2,000,000 June 22, 2026 770.92 Joint and several liability guarantee 0.26 years No No Shenzhen Linglie CNC Equipment Co., Ltd. December 6, 2025 2,000,000 June 22, 2026 12.5 Joint and several liability guarantee 0.35 years No No Shenzhen Linghui CNC Equipment Co., Ltd. December 6, 2025 2,000,000 June 25, 2026 352.79 Joint liability guarantee 0.49 years No No Suzhou Linghui New Energy Technology Co., Ltd. December 7, 2024 2,000,000 November 27, 2025 5,000 Joint liability guarantee 0.5 years Yes No Suzhou Linkhui New Energy Technology Co., Ltd. December 06, 2025 2,000,000 April 9, 2026 3,000 Joint liability guarantee 0.5 years No No Suzhou Linkhui New Energy Technology Co., Ltd. December 06, 2025 2,000,000 June 18, 2026 2,700 Joint and several liability guarantee 0.5 years No No Suzhou Lingyu Electronic Technology Co., Ltd. December 07, 2024 1,500,000 August 19, 2025 5,000 Joint and several liability guarantee 0.49 year Yes No Suzhou Lingyu Electronic Technology Co., Ltd. December 07, 2024 1,500,000 October 22, 2025 10,000 Joint liability guarantee 0.25 years Yes No Suzhou Lingyu Electronic Technology Co., Ltd. December 07, 2024 1,500,000 October 22, 2025 3,000 Joint liability guarantee 0.25 years Yes No Suzhou Lingyu Electronic Technology Co., Ltd. December 07, 2024 1,500,000 December 4, 2025 4,000 Joint liability guarantee 0.5 years Yes No Suzhou Lingyu Electronic Technology Co., Ltd. December 6, 2025 2,000,000 March 19, 2026 4,000 Joint liability guarantee 0.5 years No No Suzhou Lingyu Electronic Technology Co., Ltd. December 6, 2025 2,000,000 March 19, 2026 4,000 Joint and several liability guarantee 0.5 years No No Suzhou Lingyu Electronic Technology Co., Ltd. December 06, 2025 2,000,000 April 27, 2026 5,000 Joint and several liability guarantee 0.49 years No No Suzhou Lingyu Electronic Technology Co., Ltd. December 6, 2025 2,000,000 April 27, 2026 3,000 Joint liability guarantee 0.49 years No No Suzhou Lingyu Electronic Technology Co., Ltd. December 6, 2025 2,000,000 June 25, 2026 6,000 Joint liability guarantee 0.5 years No No Suzhou Lingyu Electronic Technology Co., Ltd. December 06, 2025 2,000,000 June 25, 2026 2,000 Joint liability guarantee 0.5 years No No Yangzhou Linghuang Technology Co., Ltd. December 7, 2024 2,000,000 August 19, 2025 4,800 Joint and several liability guarantee 0.5 years Yes No Yangzhou Linghuang Technology Co., Ltd. December 07, 2024 2,000,000 August 22, 2025 1,200 Joint and several liability guarantee 0.5 years Yes No Yangzhou Linghuang Technology Co., Ltd. December 07, 2024 2,000,000 October 31, 2025 4,805.08 Joint liability guarantee 0.5 years Yes No Yangzhou Linghuang Technology Co., Ltd. December 07, 2024 2,000,000 December 03, 2025 2,400 Joint liability guarantee 0.5 years Yes No Yangzhou Linghuang Technology Co., Ltd. December 06, 2025 2,000,000 December 12, 2025 5,000 Joint liability guarantee 0.48 years Yes No Yangzhou Linghuang Technology Co., Ltd. December 06, 2025 2,000,000 April 3, 2026 6,000 Joint liability guarantee 0.5 years No No Yangzhou Linghuang Technology Co., Ltd. December 6, 2025 2,000,000 June 29, 2026 3,200 Joint liability guarantee 0.49 years No No Yangzhou Linkhui New Energy Co., Ltd. December 7, 2024 2,000,000 July 22, 2025 5,000 Joint liability guarantee 0.5 years Yes No Yangzhou Linkhui New Energy Co., Ltd. December 07, 2024 2,000,000 November 25, 2025 2,200 Joint and several liability guarantee 0.5 years Yes No Yangzhou Linkhui New Energy Co., Ltd. December 06, 2025 2,000,000 December 22, 2025 2,800 Joint and several liability guarantee

0.5 years Yes No Yangzhou Linkhui New Energy Co., Ltd. December 6, 2025 2,000,000 March 5, 2026 3,000 Joint liability guarantee 0.5 years No No Yangzhou Linkhui New Energy Co., Ltd. December 6, 2025 2,000,000 May 19, 2026 5,000 Joint and several liability guarantee 0.5 years No No Yangzhou Linkhui New Energy Co., Ltd. December 6, 2025 2,000,000 May 26, 2026 2,000 Joint and several liability guarantee 0.5 years No No Jiangsu Keda Stern Automotive Technology Co., Ltd. April 28, 2026 960 Joint and several liability guarantee 0.5 years No Yes Dongguan Liminda Electronic Technology Co., Ltd. March 24, 2026 1,750 Joint liability guarantee 3 years No No Dongguan Liminda Electronic Technology Co., Ltd. April 24, 2026 2,450 Joint liability guarantee 3 years No No Dongguan Liminda Electronic Technology Co., Ltd. May 18, 2026 88,541.7 Joint liability guarantee 3 years No No Salcomp Industrial Electronica da Amazonia Ltda December 07, 2024 1,500,000 February 25, 2025 1,362.18 Joint and several liability guarantee 2 years No No Triumph Lead (Singapore) Pte. Ltd. December 08, 2023 2,000,000 January 23, 2024 17,027.25 Joint liability guarantee supply agreement No No

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The full text of the 2026 semi-annual report of Guangdong Lingyi Intelligent Manufacturing Co., Ltd. is available within the deadline

Effective (7

years)

TLG INVESTMENT(HK)LIMITED December 07, 2024 2,000,000 June 20, 2025 2,724.36 Joint liability guarantee 2 years No No Chengdu Lingyi Technology Co., Ltd. December 06, 2025 2,000,000 April 13, 2026 200 Joint liability guarantee 1 year No No Dongguan Lingjie Metal Precision Manufacturing Technology Co., Ltd. December 07, 2024 2,000,000 October 27, 2025 1,000 Joint liability guarantee 0.83 years No No Dongguan Shengxiang Precision Metal Co., Ltd. December 07, 2024 1,500,000 September 23, 2025 200 Joint and several liability guarantee 0.83 years Yes No Guilin Salcomp Electronic Technology Co., Ltd. December 07, 2024 2,000,000 June 13, 2025 200 Joint and several liability guarantee 1 year Yes No Guilin Salcomp Electronic Technology Co., Ltd. December 06, 2025 2,000,000 May 08, 2026 200 Joint and several liability guarantee 1 year No No Lingshengcheng Technology (Jiangsu) Co., Ltd. December 07, 2024 1,500,000 November 20, 2025 400 Joint and several liability guarantee 1.16 years No No Lingyi Technology (Shenzhen) Co., Ltd. December 07, 2024 1,500,000 November 26, 2025 1,157.85 Joint and several liability guarantee 1 year No No Lingyi Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 December 12, 2025 72,639.44 Joint and several liability guarantee 0.07 year Yes No Lingyi Technology (Shenzhen) Co., Ltd. December 6, 2025 2,000,000 December 12, 2025 10,280.71 Joint liability guarantee 0.42 years Yes No Lingyi Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 December 12, 2025 10,280.71 Joint liability guarantee 1.8 years No No Lingyi Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 December 12, 2025 13,707.62 Joint liability guarantee 2.8 years No No Lingyi Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 December 23, 2025 951.98 Joint and several liability guarantee 0.77 years Yes No Lingyi Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 December 23, 2025 951.98 Joint and several liability guarantee 1.77 years No No Lingyi Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 December 23, 2025 1,269.31 Joint and several liability guarantee 2.77 years No No Lingyi Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 December 31, 2025 5,711.51 Joint and several liability guarantee 0.75 years Yes No Lingyi Technology (Shenzhen) Co., Ltd. December 6, 2025 2,000,000 December 31, 2025 5,711.51 Joint liability guarantee 1.75 years No No Lingyi Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 December 31, 2025 7,615.34 Joint liability guarantee 2.75 years No No Lingyi Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 December 31, 2025 5,711.51 Joint liability guarantee 0.75 years Yes No Lingyi Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 December 31, 2025 5,711.51 Joint and several liability guarantee 1.75 years No No Lingyi Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 December 31, 2025 7,615.24 Joint and several liability guarantee 2.75 years No No Salcomp Technology (Shenzhen) Co., Ltd. December 06, 2025 2,000,000 December 31, 2025 500 Joint and several liability guarantee 0.83 years No No Shenzhen Linglie CNC Equipment Co., Ltd. December 7, 2024 1,500,000 April 28, 2025 1,500 Joint and several liability guarantee 1 year Yes No Shenzhen Linglie CNC Equipment Co., Ltd. December 6, 2025 2,000,000 April 28, 2026 1,500 Joint and several liability guarantee 1 year No No Suzhou Lingyu Electronic Technology Co., Ltd. December 06, 2025 2,000,000 December 06, 2025 200 Joint and several liability guarantee 7 years No No

During the reporting period, guarantees actually issued to subsidiaries

Total approved guarantee amount for subsidiaries during the reporting period (B1) 0 795,525.61 Total amount (B2)

At the end of the reporting period, the total balance of guarantees for subsidiaries was

Total approved guarantee lines for subsidiaries at the end of the reporting period (B3) 4,000,000 1,482,890.83 (B4)

Guarantees provided by subsidiaries to subsidiaries

Counter-guarantee status

The announcement related to the guarantee limit discloses the actual guarantee, the collateral (such as whether it has been fulfilled, whether it is the name of the relevant guarantee object, the guarantee limit, the actual date of occurrence, the type of guarantee, and the status (such as the guarantee period).

Exposure date, amount (yes), trip completed, joint guarantee (yes)

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Full text of the 2026 semi-annual report of Guangdong Lingyi Intelligent Manufacturing Co., Ltd. LINGYI

December 6, 2025 2,000,000 February 10, 2026 2,724.36 Joint liability guarantee 0.49 years No No VIET NAM COMPANY

SALCOMP

December 6, 2025 2,000,000 June 24, 2026 3,394.45 Joint liability guarantee 0.49 years No No MANUFACTURING INDIA PRIVATE LIMITED

SALCOMP

December 6, 2025 2,000,000 June 24, 2026 3,381.02 Joint liability guarantee 0.49 years No No MANUFACTURING INDIA PRIVATE LIMITED

SALCOMP

December 6, 2025 2,000,000 June 24, 2026 3,322.48 Joint liability guarantee 0.49 years No No MANUFACTURING INDIA PRIVATE LIMITED

SALCOMP

December 6, 2025 2,000,000 June 24, 2026 2,162.89 Joint liability guarantee 0.49 years No No MANUFACTURING INDIA PRIVATE LIMITED

SALCOMP

December 6, 2025 2,000,000 June 24, 2026 319.96 Joint liability guarantee 0.49 years No No MANUFACTURING INDIA PRIVATE LIMITED

SALCOMP

December 6, 2025 2,000,000 June 24, 2026 210.65 Joint liability guarantee 0.49 years No No MANUFACTURING INDIA PRIVATE LIMITED

SALCOMP

December 6, 2025 2,000,000 June 24, 2026 2,279.83 Joint liability guarantee 0.49 years No No MANUFACTURING INDIA PRIVATE LIMITED

SALCOMP

December 6, 2025 2,000,000 June 24, 2026 2,320.7 Joint liability guarantee 0.49 years No No MANUFACTURING INDIA PRIVATE LIMITED

Guangdong Lingyi Intelligent Manufacturing Co., Ltd. January 19, 2023 1,400,000 June 26, 2023 4,500 Joint and several liability guarantee 3 years Yes No Guangdong Lingyi Intelligent Manufacturing Co., Ltd. January 19, 2023 1,400,000 August 24, 2023 7,200 Joint and several liability guarantee 3 years No No Guangdong Lingyi Intelligent Manufacturing Co., Ltd. December 8, 2023 1,500,000 January 2, 2024 11,520 Joint and several liability guarantee 3 years Yes No Guangdong Lingyi Intelligent Manufacturing Co., Ltd. December 07, 2024 1,500,000 May 6, 2025 5,940 Joint and several liability guarantee 3 years No No Guangdong Lingyi Intelligent Manufacturing Co., Ltd. December 07, 2024 1,500,000 May 20, 2025 9,900 Joint liability guarantee 2.96 years No No Guangdong Lingyi Intelligent Manufacturing Co., Ltd. December 07, 2024 1,500,000 May 26, 2025 1,980 Joint liability guarantee 2.95 years No No Guangdong Lingyi Intelligent Manufacturing Co., Ltd. December 7, 2024 1,500,000 June 18, 2025 9,900 Joint liability guarantee 2.88 years No No

Joint and several liability guarantee, quality

Guangdong Lingyi Intelligent Manufacturing Co., Ltd. December 6, 2025 2,000,000 January 22, 2026 28,880 Equity 2.99 years No No pledge

Joint and several liability guarantee, quality

Guangdong Lingyi Intelligent Manufacturing Co., Ltd. December 6, 2025 2,000,000 February 5, 2026 28,511.88 Equity 2.96 years No No

pledge

Guangdong Lingyi Intelligent Manufacturing Co., Ltd. December 6, 2025 2,000,000 April 14, 2026 9,000 Joint and several liability guarantee 3 years No No Guangdong Lingyi Intelligent Manufacturing Co., Ltd. December 6, 2025 2,000,000 April 15, 2026 9,000 Joint and several liability guarantee 3 years No No Guangdong Lingyi Intelligent Manufacturing Co., Ltd. December 6, 2025 2,000,000 April 28, 2026 10,000 Joint liability guarantee 2.96 years No No Guangdong Lingyi Intelligent Manufacturing Co., Ltd. December 6, 2025 2,000,000 May 20, 2026 10,000 Joint liability guarantee 3 years No No Changzhou Lingsheng New Energy Technology Co., Ltd. December 07, 2024 2,000,000 July 25, 2025 1,481 Pledge Note 0.5 year Yes No Changzhou Lingsheng New Energy Technology Co., Ltd. December 07, 2024 2,000,000 November 26, 2025 1,000 Pledge note 0.5 year Yes No Changzhou Lingsheng New Energy Technology Co., Ltd. December 07, 2024 2,000,000 November 26, 2025 500 Pledge note 0.5 year Yes No Changzhou Lingsheng New Energy Technology Co., Ltd. December 07, 2024 2,000,000 November 26, 2025 1,600 Pledge note 0.5 year Yes No Changzhou Lingsheng New Energy Technology Co., Ltd. December 06, 2025 2,000,000 December 23, 2025 1,000 Pledge note 0.5 year Yes No

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Full text of the 2026 semi-annual report of Guangdong Lingyi Intelligent Manufacturing Co., Ltd. Changzhou Lingsheng New Energy Technology Co., Ltd. December 06, 2025 2,000,000 December 23, 2025 1,000 Pledge Note 0.5 years Yes No Changzhou Lingsheng New Energy Technology Co., Ltd. December 06, 2025 2,000,000 January 29, 2026 135.42 Pledge note 0.5 year No No Changzhou Lingsheng New Energy Technology Co., Ltd. December 6, 2025 2,000,000 January 29, 2026 218.72 Pledge note 0.5 year No No Changzhou Lingsheng New Energy Technology Co., Ltd. December 6, 2025 2,000,000 February 11, 2026 17.4 Pledge Note 0.5 year No No Changzhou Lingsheng New Energy Technology Co., Ltd. December 06, 2025 2,000,000 February 11, 2026 33.6 Pledge Note 0.5 year No No Changzhou Lingsheng New Energy Technology Co., Ltd. December 6, 2025 2,000,000 February 11, 2026 18.24 Pledge note 0.5 years No No Changzhou Lingsheng New Energy Technology Co., Ltd. December 6, 2025 2,000,000 February 27, 2026 39.46 Pledge note 0.5 years No No Changzhou Lingsheng New Energy Technology Co., Ltd. December 06, 2025 2,000,000 February 27, 2026 85.39 Pledge note 0.5 year No No Changzhou Lingsheng New Energy Technology Co., Ltd. December 06, 2025 2,000,000 March 11, 2026 24.51 Pledge note 0.5 year No No Changzhou Lingsheng New Energy Technology Co., Ltd. December 06, 2025 2,000,000 March 11, 2026 16.65 Pledge note 0.5 year No No Changzhou Lingsheng New Energy Technology Co., Ltd. December 06, 2025 2,000,000 March 11, 2026 16.8 Pledge note 0.5 year No No Changzhou Lingsheng New Energy Technology Co., Ltd. December 6, 2025 2,000,000 March 26, 2026 9.09 Pledge note 0.5 year No No Changzhou Lingsheng New Energy Technology Co., Ltd. December 6, 2025 2,000,000 March 26, 2026 40.73 Pledge Note 0.5 year No No Changzhou Lingsheng New Energy Technology Co., Ltd. December 06, 2025 2,000,000 April 10, 2026 2.66 Pledge Note 0.5 year No No Changzhou Lingsheng New Energy Technology Co., Ltd. December 6, 2025 2,000,000 April 10, 2026 17.98 Pledge Note 0.5 years No No Changzhou Lingsheng New Energy Technology Co., Ltd. December 6, 2025 2,000,000 April 10, 2026 16.8 Pledge Note 0.5 years No No Changzhou Lingsheng New Energy Technology Co., Ltd. December 06, 2025 2,000,000 April 10, 2026 27.36 Pledge Note 0.5 years No No Changzhou Lingsheng New Energy Technology Co., Ltd. December 06, 2025 2,000,000 May 11, 2026 400 Pledge note 0.5 year No No Changzhou Lingsheng New Energy Technology Co., Ltd. December 6, 2025 2,000,000 May 15, 2026 35.55 Pledge note 0.5 year No No Changzhou Lingsheng New Energy Technology Co., Ltd. December 06, 2025 2,000,000 May 19, 2026 1,500 Pledge note 0.5 year No No Changzhou Lingsheng New Energy Technology Co., Ltd. December 6, 2025 2,000,000 May 26, 2026 16.72 Pledge note 0.5 year No No Changzhou Lingsheng New Energy Technology Co., Ltd. December 6, 2025 2,000,000 June 4, 2026 1,000 Pledge note 0.5 year No No Changzhou Lingsheng New Energy Technology Co., Ltd. December 06, 2025 2,000,000 June 18, 2026 300 Pledge note 0.5 year No No Fujian Lingfu New Energy Technology Co., Ltd. December 7, 2024 2,000,000 July 10, 2025 36.57 Pledge note 0.5 years Yes No Fujian Lingfu New Energy Technology Co., Ltd. December 7, 2024 2,000,000 July 25, 2025 33 Pledge note 0.5 years Yes No Fujian Lingfu New Energy Technology Co., Ltd. December 7, 2024 2,000,000 July 25, 2025 1,778 Pledge Note 0.5 year Yes No Fujian Lingfu New Energy Technology Co., Ltd. December 7, 2024 2,000,000 August 13, 2025 19.6 Pledge note 0.5 years Yes No Fujian Lingfu New Energy Technology Co., Ltd. December 07, 2024 2,000,000 August 28, 2025 2,100 Pledge note 0.5 year Yes No Fujian Lingfu New Energy Technology Co., Ltd. December 07, 2024 2,000,000 August 28, 2025 240 Pledge Note 0.5 years Yes No Fujian Lingfu New Energy Technology Co., Ltd. 2024

December 7, 2024 2,000,000 September 25, 2025 19.6 Pledge Note 0.5 year Yes No Fujian Lingfu New Energy Technology Co., Ltd. December 7, 2024 2,000,000 September 25, 2025 2,000 Pledge Note 0.5 year Yes No Fujian Lingfu New Energy Technology Co., Ltd. December 6, 2025 2,000,000 January 29, 2026 139.48 Pledge Note 0.5 years No No Fujian Lingfu New Energy Technology Co., Ltd. December 6, 2025 2,000,000 January 29, 2026 182.36 Pledge Note 0.5 years No No Fujian Lingfu New Energy Technology Co., Ltd. December 06, 2025 2,000,000 February 11, 2026 19.6 Pledge Note 0.5 years No No Fujian Lingfu New Energy Technology Co., Ltd. December 6, 2025 2,000,000 March 11, 2026 50.4 Pledge Notes 0.5 years No No Fujian Lingfu New Energy Technology Co., Ltd. December 06, 2025 2,000,000 March 26, 2026 1.84 Pledge Notes 0.5 years No No Fujian Lingfu New Energy Technology Co., Ltd. December 6, 2025 2,000,000 March 26, 2026 81.5 Pledged notes 0.5 years No No Fujian Lingfu New Energy Technology Co., Ltd. December 6, 2025 2,000,000 March 26, 2026 37.3 Pledged notes 0.5 years No No

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Full text of the 2026 semi-annual report of Guangdong Lingyi Intelligent Manufacturing Co., Ltd. Fujian Lingfu New Energy Technology Co., Ltd. December 06, 2025 2,000,000 April 28, 2026 85.62 Pledge Note 0.5 years No No Fujian Lingfu New Energy Technology Co., Ltd. December 06, 2025 2,000,000 May 11, 2026 400 Pledge note 0.5 year No No Fujian Lingfu New Energy Technology Co., Ltd. December 6, 2025 2,000,000 May 15, 2026 36.4 Pledge note 0.5 year No No Fujian Lingfu New Energy Technology Co., Ltd. December 6, 2025 2,000,000 May 26, 2026 189.2 Pledge note 0.5 year No No Fujian Lingfu New Energy Technology Co., Ltd. December 6, 2025 2,000,000 June 23, 2026 8.44 Pledge note 0.5 year No No Fujian Lingfu New Energy Technology Co., Ltd. December 06, 2025 2,000,000 June 23, 2026 41.98 Pledge Note 0.5 year No No Guangdong Lingyi Intelligent Manufacturing Co., Ltd. December 07, 2024 1,500,000 July 24, 2025 19.35 Joint liability guarantee 0.49 year Yes No Guangdong Lingyi Intelligent Manufacturing Co., Ltd. December 07, 2024 1,500,000 August 25, 2025 467.83 Joint liability guarantee 0.49 years Yes No Guangdong Lingyi Intelligent Manufacturing Co., Ltd. December 07, 2024 1,500,000 September 10, 2025 81.58 Joint and several liability guarantee 0.5 years Yes No Guangdong Lingyi Intelligent Manufacturing Co., Ltd. December 06, 2025 2,000,000 March 04, 2026 1,199.65 Joint and several liability guarantee 0.25 years Yes No Guangdong Lingyi Intelligent Manufacturing Co., Ltd. December 06, 2025 2,000,000 March 4, 2026 15.35 Joint liability guarantee 0.49 years No No Guangdong Lingyi Intelligent Manufacturing Co., Ltd. December 6, 2025 2,000,000 March 4, 2026 337.15 Joint liability guarantee 0.25 years Yes No Guangdong Lingyi Intelligent Manufacturing Co., Ltd. December 06, 2025 2,000,000 March 4, 2026 12.54 Joint liability guarantee 0.49 years No No Guangdong Lingyi Intelligent Manufacturing Co., Ltd. December 6, 2025 2,000,000 March 10, 2026 305.09 Joint liability guarantee 0.17 years Yes No Guangdong Lingyi Intelligent Manufacturing Co., Ltd. December 6, 2025 2,000,000 March 10, 2026 926.02 Joint and several liability guarantee 0.25 years Yes No Guangdong Lingyi Intelligent Manufacturing Co., Ltd. December 6, 2025 2,000,000 March 10, 2026 38.3 Joint and several liability guarantee 0.49 years No No Guangdong Lingyi Intelligent Manufacturing Co., Ltd. December 6, 2025 2,000,000 March 10, 2026 4.65 Joint liability guarantee 0.46 years No No Guangdong Lingyi Intelligent Manufacturing Co., Ltd. December 6, 2025 2,000,000 May 22, 2026 1,582.91 Joint liability guarantee 0.26 years No No Guangdong Linghui Intelligent Manufacturing Co., Ltd. December 06, 2025 2,000,000 May 22, 2026 171.5 Joint liability guarantee 0.49 years No No Suzhou Linghui New Energy Technology Co., Ltd. December 07, 2024 2,000,000 July 11, 2025 666.39 Pledge note 0.5 year Yes No Suzhou Linkway New Energy Technology Co., Ltd. December 07, 2024 2,000,000 August 12, 2025 386.6 Pledge note 0.5 year Yes No Suzhou Linkway New Energy Technology Co., Ltd. December 07, 2024 2,000,000 September 11, 2025 810 Pledge note 0.5 years Yes No Suzhou Linkhui New Energy Technology Co., Ltd. December 7, 2024 2,000,000 October 20, 2025 1,189.19 Pledge note 0.5 years Yes No

Joint and several liability guarantee, offset

Zhejiang Xianglong Machinery Co., Ltd. April 11, 2023 0.01 Real estate 5.7 years Yes No

Joint and several liability guarantee, offset

Zhejiang Xianglong Machinery Co., Ltd. June 26, 2024 1,350 Real estate 4.49 years Yes No

pledge

Zhejiang Xianglong Machinery Co., Ltd. March 20, 2025 1,200 Joint liability guarantee 1 year Yes No Zhejiang Xianglong Machinery Co., Ltd. March 28, 2025 800 Joint liability guarantee 1.08 years Yes No Zhejiang Xianglong Machinery Co., Ltd. April 2, 2025 1,500 Mortgage Real estate and equipment 1 year Yes No Zhejiang Xianglong Machinery Co., Ltd. April 21, 2025 1,500 Mortgage Real estate and equipment 1 year Yes No Zhejiang Xianglong Machinery Co., Ltd. April 22, 2025 9.46 Joint and several liability guarantee 1 year Yes No Zhejiang Xianglong Machinery Co., Ltd. May 23, 2025 13.24 Joint and several liability guarantee 1 year No No Zhejiang Xianglong Machinery Co., Ltd. July 10, 2025 1,000 Joint liability guarantee 1 year No No Zhejiang Xianglong Machinery Co., Ltd. July 24, 2025 4,000 Joint liability guarantee 1 year No No Zhejiang Xianglong Machinery Co., Ltd. July 25, 2025 2,000 Mortgage plant 0.5 year Yes No Ningbo Xianglong Automotive Parts Co., Ltd. July 29, 2025 1,091.2 Joint and several liability guarantee 0.5 years Yes No Ningbo Xianglong Auto Parts Co., Ltd. July 31, 2025 508.8 Joint and several liability guarantee 0.5 years Yes No

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Full text of the 2026 semi-annual report of Guangdong Lingyi Intelligent Manufacturing Co., Ltd. Zhejiang Xianglong Machinery Co., Ltd. August 6, 2025 1,500 Joint liability guarantee 0.5 years Yes No Ningbo Longjun Import and Export Co., Ltd. August 15, 2025 2,000 Joint liability guarantee 0.5 years Yes No Zhejiang Xianglong Machinery Co., Ltd. August 22, 2025 2,240 Joint liability guarantee 0.5 years Yes No Zhejiang Xianglong Machinery Co., Ltd. September 2, 2025 2,000 Joint liability guarantee 1 year No No Zhejiang Xianglong Machinery Co., Ltd. September 11, 2025 1,600 Joint liability guarantee 0.5 years Yes No Zhejiang Xianglong Machinery Co., Ltd. September 25, 2025 2,400 Joint liability guarantee 0.5 years Yes No Zhejiang Xianglong Machinery Co., Ltd. October 28, 2025 2,400 Joint liability guarantee 0.5 years Yes No Zhejiang Xianglong Machinery Co., Ltd. October 30, 2025 1,600 Joint liability guarantee 0.5 years Yes No Zhejiang Xianglong Machinery Co., Ltd. November 12, 2025 1,000 Pledge Fixed deposit 0.5 years Yes No Zhejiang Xianglong Machinery Co., Ltd. November 21, 2025 1,400 Joint liability guarantee 0.5 year Yes No Zhejiang Xianglong Machinery Co., Ltd. November 21, 2025 1,000 Joint liability guarantee 1 year No No Zhejiang Xianglong Machinery Co., Ltd. November 25, 2025 1,300 Joint liability guarantee 0.5 years Yes No Zhejiang Xianglong Machinery Co., Ltd. November 28, 2025 1,600 Joint liability guarantee 0.5 year Yes No Zhejiang Xianglong Machinery Co., Ltd. December 10, 2025 2,400 Joint liability guarantee 0.5 years Yes No Zhejiang Xianglong Machinery Co., Ltd. December 24, 2025 2,400 Joint liability guarantee 0.5 years Yes No Zhejiang Xianglong Machinery Co., Ltd. March 9, 2026 2,000 Joint liability guarantee 0.5 years No Zhejiang Xianglong Machinery Co., Ltd. March 20, 2026 1,200 Joint liability guarantee 0.5 years No No Zhejiang Xianglong Machinery Co., Ltd. March 26, 2026 5,000 Joint liability guarantee 0.5 years No No

Joint and several liability guarantee, offset

Zhejiang Xianglong Machinery Co., Ltd. April 23, 2026 3,500 Plant and equipment 0.5 years No No

pledge

Zhejiang Xianglong Machinery Co., Ltd. April 23, 2026 3,500 Joint liability guarantee 0.5 years No No Zhejiang Xianglong Machinery Co., Ltd. May 20, 2026 2,500 Joint liability guarantee 0.5 years No No Zhejiang Xianglong Machinery Co., Ltd. May 20, 2026 1,000 Pledge Fixed deposit 0.5 years No No

Joint and several liability guarantee, offset

Zhejiang Xianglong Machinery Co., Ltd. May 21, 2026 3,500 Plant and equipment 0.5 years No No

pledge

Zhejiang Xianglong Machinery Co., Ltd. May 21, 2026 2,000 Joint liability guarantee 0.5 years No No Zhejiang Xianglong Machinery Co., Ltd. May 22, 2026 2,500 Pledge Fixed deposit 0.5 year No No Zhejiang Xianglong Machinery Co., Ltd. June 15, 2026 2,100 Pledge Fixed deposit, margin 0.5 year No No

Joint and several liability guarantee, offset

Zhejiang Xianglong Machinery Co., Ltd. June 18, 2026 3,000 Plant and equipment 0.5 years No No

pledge

Zhejiang Xianglong Machinery Co., Ltd. June 24, 2026 3,000 Joint liability guarantee 0.5 years No No

Joint and several liability guarantee, offset

Jiangsu Keda Stern Automotive Technology Co., Ltd. August 5, 2022 1,200 Land, factory building 3 years No Yes Deposit

Joint and several liability guarantee, offset

Jiangsu Keda Stern Automotive Technology Co., Ltd. April 8, 2022 1,200 Land and factory building 3 years No Yes Deposit

Joint and several liability guarantee, offset

Jiangsu Keda Stern Automotive Technology Co., Ltd. November 16, 2022 600 Land, factory building 3 years No Yes

pledge

Jiangsu Keda Stern Automotive Technology Co., Ltd. May 19, 2023 497.48 Joint liability guarantee, offset Land, factory building 3 years No Yes

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The full text of the 2026 semi-annual report of Guangdong Lingyi Intelligent Manufacturing Co., Ltd.

Joint and several liability guarantee, offset

Jiangsu Keda Stern Automotive Technology Co., Ltd. July 21, 2023 600 Land, factory building 3 years No Yes Deposit

Joint and several liability guarantee, offset

Jiangsu Keda Stern Automotive Technology Co., Ltd. November 9, 2023 360.72 Land, factory building 3 years No Yes Deposit

Joint and several liability guarantee, offset

Jiangsu Keda Stern Automotive Technology Co., Ltd. May 30, 2025 1,500 Land and factory building 1 year Yes Yes Deposit

Joint and several liability guarantee, offset

Jiangsu Keda Stern Automotive Technology Co., Ltd. June 4, 2025 2,000 Land and factory building 1 year Yes Yes Deposit

Joint and several liability guarantee, offset

Jiangsu Keda Stern Automotive Technology Co., Ltd. December 8, 2025 1,000 Land, factory building 1 year No Yes

pledge

Jiangsu Keda Stern Automotive Technology Co., Ltd. March 18, 2025 1,000 Joint and several liability guarantee 1 year Yes Yes Jiangsu Keda Stern Automotive Technology Co., Ltd. October 17, 2025 1,500 Joint and several liability guarantee 1 year No Yes Changzhou Keda Auto Parts Co., Ltd. July 22, 2025 980 Joint and several liability guarantee 1 year No Yes Zhengzhou Keda Stern Auto Parts Co., Ltd. August 14, 2025 980 Joint and several liability guarantee 1 year No Yes Anhui Cohen Auto Parts Co., Ltd. August 6, 2025 980 Joint and several liability guarantee 1 year No Yes Jiangsu Keda Stern Automotive Technology Co., Ltd. September 15, 2025 400 Joint and several liability guarantee 1 year Yes Yes Jiangsu Keda Stern Automotive Technology Co., Ltd. September 25, 2025 300 Joint and several liability guarantee 1 year Yes Yes Jiangsu Keda Stern Automotive Technology Co., Ltd. October 15, 2025 500 Joint and several liability guarantee 1 year Yes Yes Jiangsu Keda Stern Automotive Technology Co., Ltd. October 24, 2025 500 Joint and several liability guarantee 1 year Yes Yes Jiangsu Keda Stern Automotive Technology Co., Ltd. December 11, 2025 500 Joint liability guarantee 1 year Yes Yes Jiangsu Keda Stern Automotive Technology Co., Ltd. July 28, 2025 2,000 Joint liability guarantee 1 year Yes Yes Jiangsu Keda Stern Automotive Technology Co., Ltd. September 26, 2025 1,000 Joint liability guarantee 1 year Yes Yes Jiangsu Keda Stern Automotive Technology Co., Ltd. October 15, 2025 980 Joint liability guarantee 1 year Yes Yes Jiangsu Keda Stern Automotive Technology Co., Ltd. November 27, 2025 449.94 Joint liability guarantee 1 year Yes Yes Jiangsu Keda Stern Automotive Technology Co., Ltd. July 7, 2025 1,000 Joint liability guarantee 1 year Yes Yes Jiangsu Keda Stern Automotive Technology Co., Ltd. July 10, 2025 1,800 Joint liability guarantee 1 year Yes Yes Jiangsu Keda Stern Automotive Technology Co., Ltd. July 28, 2025 1,000 Pledge Deposit 1 year Yes Yes Jiangsu Keda Stern Automotive Technology Co., Ltd. July 28, 2025 200 Pledge Deposit 1 year Yes Yes Jiangsu Keda Stern Automotive Technology Co., Ltd. August 7, 2025 1,000 Pledge Security deposit 1 year Yes Yes Jiangsu Keda Stern Automotive Technology Co., Ltd. August 08, 2025 1,000 Pledge Certificate of Deposit 1 year Yes Yes Jiangsu Keda Stern Automotive Technology Co., Ltd. August 28, 2025 1,000 Pledge Deposit 1 year Yes Yes Jiangsu Keda Stern Automotive Technology Co., Ltd. August 28, 2025 1,000 Pledge Certificate of Deposit 1 year Yes Yes Jiangsu Keda Stern Automotive Technology Co., Ltd. September 04, 2025 1,000 Pledge Certificate of Deposit 1 year Yes Yes Jiangsu Keda Stern Automotive Technology Co., Ltd. September 10, 2025 1,000 Pledge deposit 1 year Yes Yes Jiangsu Keda Stern Automotive Technology Co., Ltd. October 29, 2025 1,000 Pledge deposit 1 year Yes Yes Jiangsu Keda Stern Automotive Technology Co., Ltd. October 30, 2025 2,000 Pledge Certificate of Deposit 1 year Yes Yes Jiangsu Keda Stern Automotive Technology Co., Ltd. November 5, 2025 1,500 Pledge Certificate of Deposit 1 year Yes Yes

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Full text of the 2026 semi-annual report of Guangdong Lingyi Intelligent Manufacturing Co., Ltd. Jiangsu Keda Stern Automotive Technology Co., Ltd. November 26, 2025 1,499 Pledge Deposit 1 year Yes Yes Jiangsu Keda Stern Automotive Technology Co., Ltd. November 27, 2025 1,500 Pledge Certificate of Deposit 1 year Yes Yes Jiangsu Keda Stern Automotive Technology Co., Ltd. December 08, 2025 1 Pledge Deposit 1 year Yes Yes Jiangsu Keda Stern Automotive Technology Co., Ltd. December 12, 2025 1,400 Pledge Deposit 1 year Yes Yes Jiangsu Keda Stern Automotive Technology Co., Ltd. December 29, 2025 900 Pledge Deposit 1 year Yes Yes Jiangsu Keda Stern Automotive Technology Co., Ltd. December 26, 2025 2,700 Pledge Margin 1 year Yes Yes

Joint and several liability guarantee, offset

Jiangsu Keda Stern Automotive Technology Co., Ltd. January 3, 2026 2,000 Land, factory building 1 year No Yes

pledge

Jiangsu Keda Stern Automotive Technology Co., Ltd. February 4, 2026 700 Joint liability guarantee 0.5 years No Yes Jiangsu Keda Stern Automotive Technology Co., Ltd. January 29, 2026 2,000 Joint liability guarantee 0.5 years No Yes Jiangsu Keda Stern Automotive Technology Co., Ltd. March 24, 2026 1,000 Joint liability guarantee 0.5 years No Yes Jiangsu Keda Stern Automotive Technology Co., Ltd. January 13, 2026 2,000 Joint and several liability guarantee 0.5 years No Yes Jiangsu Keda Stern Automotive Technology Co., Ltd. April 3, 2026 2,000 Joint and several liability guarantee 0.5 years No Yes Jiangsu Keda Stern Automotive Technology Co., Ltd. April 14, 2026 1,000 Joint liability guarantee 0.5 years No Yes Jiangsu Keda Stern Automotive Technology Co., Ltd. February 11, 2026 1,500 Pledge Certificate of Deposit 0.5 year No Yes Jiangsu Keda Stern Automotive Technology Co., Ltd. January 12, 2026 1,500 Pledge deposit 0.5 years No Yes Jiangsu Keda Stern Automotive Technology Co., Ltd. April 21, 2026 2,000 Joint and several liability guarantee 0.5 years No Yes Jiangsu Keda Stern Automotive Technology Co., Ltd. May 8, 2026 2,000 Joint and several liability guarantee 0.5 years No Yes Jiangsu Keda Stern Automotive Technology Co., Ltd. May 28, 2026 3,000 Joint and several liability guarantee 0.5 years No Yes Jiangsu Keda Stern Automotive Technology Co., Ltd. June 30, 2026 3,500 Joint liability guarantee 0.5 years No Yes

During the reporting period, guarantees actually issued to subsidiaries

Total approved guarantee amount for subsidiaries during the reporting period (C1) 0 184,348.57 Total amount (C2)

At the end of the reporting period, the total balance of guarantees for subsidiaries was

Total approved guarantee lines for subsidiaries at the end of the reporting period (C3) 0 234,412.11 (C4)

The total amount of company guarantees (i.e. the total of the first three major items)

The total actual amount of guarantees incurred during the reporting period

Total approved guarantee amount during the reporting period (A1+B1+C1) 0 979,874.18 (A2+B2+C2)

The total balance of all guarantees at the end of the reporting period

Total approved guarantee lines at the end of the reporting period (A3+B3+C3) 4,000,000 1,718,302.94

(A4+B4+C4)

The total guarantee balance (i.e. A4+B4+C4) accounts for 54.52% of the company’s net assets.

Among them:

Balance of guarantees provided to shareholders, actual controllers and their related parties (D) 0

Balance of debt guarantee provided directly or indirectly for guaranteed objects with asset-liability ratio exceeding 70% (E) 624,745.7

The amount of the total guarantee exceeding 50% of the net assets (F) 142,368.40

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Full text of the 2026 semi-annual report of Guangdong Lingyi Intelligent Manufacturing Co., Ltd. The total amount of the above three guarantees (D+E+F) 767,114.10 Note: The total amount of intra-group guarantees approved by the company at the end of the reporting period was RMB 40,000,000, including the company's guarantees to subsidiaries, subsidiaries to the company, and subsidiaries to subsidiaries. The company's guarantee to subsidiaries includes the guarantees provided by the company and its subsidiaries as joint guarantors to other subsidiaries, and the guarantees provided by subsidiaries to subsidiaries include the guarantees provided by subsidiaries to the company.

3. Entrusted financial management

Applicable □Not applicable

Unit: RMB 10,000 Product Category Risk Characteristics Balance of entrusted financial management during the reporting period Overdue amount that has not been recovered

Bank wealth management products Medium and low risk 208,490 0 The company, as a single client, entrusts a financial institution to carry out asset management, or invests in high-risk entrusted wealth management with low security and poor liquidity. Specific circumstances

□Applicable Not applicable

4. Other major contracts

□Applicable Not applicable

The company had no other major contracts during the reporting period.

13. Registration form for reception of research, communication, interviews and other activities during the reporting period

Applicable □Not applicable

Reception objects

Reception time Reception place Reception method Reception objects Main content of discussion and information provided Index of basic information of the survey

Type

For details, please refer to the company’s announcement on Juchao Capital on March 5, 2026. Dongguan Liminda Electronic Technology Co., Ltd. on the company’s operating conditions and future development plans, etc.

On-site research, institutions, investors. Communicate on the investor relations activities disclosed by the company on the 5th of March 2020 (www.cninfo.com.cn).

Activity record form (No. 2026-001)

For details, please refer to the company’s announcement on Juchao Capital on April 7, 2026, Shanghai Securities News·China Securities Network, regarding the company’s operating conditions and future development plans, etc.

Network platform for online communication with institutions and investors. Communicate on the investor relations activities disclosed by Information Network (www.cninfo.com.cn) on the 7th of the month https://roadshow.cnstock.com/

Activity record form (No. 2026-002)

For details, please refer to the company’s announcement on Juchao Capital on April 16, 2026 regarding the company’s operating conditions and future development plans.

Exchange information on the investor relations information disclosed by the Shenzhen Stock Exchange on the 8th floor of the Listing Hall on the 8th floor of the Shenzhen Stock Exchange with other institutions and investors on the 16th of the month.

Activity record form (No. 2026-003)

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Full text of the 2026 semi-annual report of Guangdong Lingyi Intelligent Manufacturing Co., Ltd.

Reception objects

Reception time Reception place Reception method Reception objects Main content of discussion and information provided Index of basic information of the survey

Type

For details, please refer to the company’s announcement on Juchao Capital on April 29, 2026 regarding the company’s operating conditions and future development plans.

Online communication Network platform Online communication Institutional investors Communicate on the investor relations activities disclosed by Xinwang (www.cninfo.com.cn) on the 29th of the month

Activity record form (No. 2026-004)

For details, please refer to the company’s announcement on Juchao Capital on July 21, 2026, Huafu Street, Futian District, Shenzhen City, Guangdong Province regarding the company’s operating conditions and future development plans, etc.

On-site research Institutions Investors Exchange information on the investor relations information disclosed by Information Network (www.cninfo.com.cn) on the 21st of the 21st Lingyi Building, No. 1012 Daoshennan Avenue

Activity record form (No. 2026-005)

For details, please refer to the company’s announcement on Juchao Capital on July 22, 2026 at Huafu Street, Futian District, Shenzhen City, Guangdong Province regarding the company’s operating conditions and future development plans, etc.

On-site research Institutions Investors Exchange information on the investor relations activities disclosed by the Information Network (www.cninfo.com.cn) on the 22nd of the 22nd Lingyi Building, No. 1012, Daoshennan Avenue

Activity record form (No. 2026-006)

For details, please refer to the company’s announcement on Juchao Capital on July 23, 2026 at Huafu Street, Futian District, Shenzhen City, Guangdong Province regarding the company’s operating conditions and future development plans, etc.

On-site research Institutions Investors Exchange information on the investor relations activities disclosed by the Information Network (www.cninfo.com.cn) on the 23rd of the 23rd Lingyi Building, No. 1012, Daoshennan Avenue

Activity record form (No. 2026-007)

14. Description of other major matters

Applicable □Not applicable

No. Event Overview Disclosure Date Temporary Report Disclosure Website Query Index The company held the 11th meeting of the sixth board of directors on April 11, 2025 and reviewed and approved the "Proposal on the Plan to Repurchase the Company's Shares". The company separately

On April 15, 2025 and April 19, 2025, the "Announcement on the Plan to Repurchase the Company's Shares" and "On the Completion of the Implementation of the Repurchase of the Company's Shares" were disclosed on the cninfo.com (www.cninfo.com.cn)

2026 1

1 "Repurchase Report". As of January 14, 2026, the company's share repurchase plan has been completed, and the company has accumulated a special securities account for repurchase to concentrate the changes in shares (announcement number:

15th

38,231,900 shares of the company were repurchased through bidding transactions, accounting for 0.52% of the company's total share capital. The highest transaction price was 8.55 yuan/share and the lowest transaction price was 8.06 yuan/2026-004)

shares, with a transaction amount of 319,911,973.82 yuan (excluding transaction costs). The above situation is in line with the company's established repurchase plan and the requirements of laws and regulations.

On December 22, 2025, in order to further leverage the company's strategic synergy, enhance the business scale and profitability of the company's AI hardware server sector, and enhance the company's

Comprehensive competitiveness and sustainable development capabilities in the field of industrial-grade servers, the company and Zhang Qiang, Wu Yan, Wu Yongjun, Xian Juhong, Ma Qi, Shan Xiaojun, Hao Daichao, Tang 2025

"About the Company Signing the Equity Transfer Agreement" Jian, Maodan Investment, Xinyu Decai, and Dongguan Decai signed the "Equity Transfer Agreement." The company will acquire the total holdings of the above shareholders for 875 million yuan in cash on December 23

Announcement", "About the company signing <Equity 2' for 35% of Liminda's equity, and obtaining the voting rights for 17.78% of the target company's equity held by Zhang Qiang through voting rights entrustment, and controlling the target company in total. Date, 2026

Announcement on the Progress of the Transfer Agreement> (Announcement No. 52.78% of the voting rights, thereby obtaining control of the target company. On January 30, 2026, according to the company’s payment progress, Liminda’s board of directors seat arrangement, property January 31

No.: 2025-219, 2026-008)

The company has completed the relevant delivery procedures for this transaction in accordance with the relevant provisions of the rights transfer procedures, Liminda's Articles of Association and compliance with the Accounting Standards for Business Enterprises.

Prior to this, Liminda has become a holding subsidiary of the company and has been included in the company's consolidated statements.

"On the plan to repurchase the company's shares, the company held the 23rd meeting of the sixth board of directors on March 26, 2026 and reviewed and approved the "Proposal on the plan to repurchase the company's shares".

3 Announcement" (Announcement No.: 2026-027), and the "Announcement on the Plan to Repurchase the Company's Shares" and "Repurchase Report" were disclosed on the cninfo.com (www.cninfo.com.cn) on March 28, 2020. March 28

"Repurchase Report"

The company held the 23rd meeting of the sixth board of directors and the 2025 annual shareholders' meeting on March 26, 2026 and April 20, 2026 respectively, and reviewed and approved the "Proposal on the 2025 Profit Distribution Plan and the 2025 Profit Distribution Plan and the 2026 Interim Dividend Authorization". The 2025 profit distribution plan drawn up by the company's board of directors is: Based on the 28 Announcement of 2026 Interim Dividend Authorization",

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Serial number Event summary Disclosure date Temporary report disclosure website query index

On March 10, 2026, the company's total share capital after deducting the repurchased shares in the special repurchase account was 7,296,198,280 shares. As a base, a cash dividend of 0.2 yuan will be distributed for every 10 shares (including the tax on the implementation of equity distribution in 2025 in 2025). No bonus shares will be given, and the public reserve will not be converted into share capital. The company plans to distribute a total of cash dividends. 145,923,965.60 yuan (tax included). From the date of disclosure of this announcement to May 12, 2026 (Announcement No.: 2026-022), if the company's total share capital changes during the equity registration date of the equity distribution, it is planned to adjust the total amount of dividends accordingly based on the principle that the distribution ratio per share remains unchanged. Date 2026-049)

"About resubmitting H to the Hong Kong Stock Exchange. According to the time schedule for this issuance and listing, the company resubmitted its application for this issuance and listing to the Hong Kong Stock Exchange on May 20, 2026, and on the same day published the updated application information for this issuance and listing on the Hong Kong Stock Exchange website. Announcement on March 22nd (Announcement No.: 2026-053)

"About the Issuance of Overseas Listed Shares (Company H received the "About Guangdong Lingyi Intelligent Manufacturing Co., Ltd. May 2026" issued by the China Securities Regulatory Commission (hereinafter referred to as the "China Securities Regulatory Commission") on May 19, 2026

shares) obtained the registration notice for overseas issuance and listing of a public company registered with the China Securities Regulatory Commission (Guohehan [2026] No. 1132) on March 23

Announcement" (Announcement No.: 2026-054)

"About the Hong Kong Stock Exchange's review of the company's issuance. The Hong Kong Stock Exchange held a listing hearing on May 28, 2026 to review the company's application for this issuance and listing. The company’s exclusive sponsor for this issuance and listing has announced in June 2026

The company with overseas listed shares (H shares) received a letter from the Hong Kong Stock Exchange on May 29, 2026, which stated that the Listing Committee of the Hong Kong Stock Exchange had reviewed the company’s listing application, but the letter was dated May 2, 2026.

"Announcement" and "Publication of H Share Issuance Hearing 5" do not constitute formal listing approval. The Hong Kong Stock Exchange still has the power to provide further opinions on the company's listing application. 2026 6

Announcement of the Post-Issuance and Listing Information Set" (Announcement No.: According to the time schedule of this issuance and listing, the company published the post-issuance and listing hearing information set on the website of the Hong Kong Stock Exchange in accordance with relevant regulations. On 9th

2026-057, 2026-060)

"About the publication of the H-share prospectus, H. On June 16, 2026, the company published and distributed the H-share prospectus for this issuance and listing on the website of the Hong Kong Stock Exchange in accordance with relevant regulations. The H-share prospectus 2026 6-share issuance price range and H-share Hong Kong public disclosure are published in accordance with applicable Hong Kong laws and regulations and the relevant norms and requirements of the Hong Kong Stock Exchange and the Hong Kong Securities and Futures Commission. Announcement on Sales and Other Matters on March 17th (Announcement No.

No.: 2026-066)

The number of H shares issued in this global offering of the company is 811,811,880 shares, of which 81,181,320 shares are publicly offered in Hong Kong and 730,630,560 shares are offered internationally. According to

Calculated at an offer price of HK$10.18 per share, and after deducting underwriting commissions and other valuation fees related to the global offering, the net proceeds received by the company from the global offering in June 2026 are estimated to be approximately HK$8.1517 billion in total for the listing and trading of H shares. With the approval of the Hong Kong Stock Exchange, the 811,811,880 H shares issued by the company were listed and traded on the main board of the Hong Kong Stock Exchange on June 27, 2026 (Announcement No.: 2026-071). The company's H shares are abbreviated as "LINGYIITECH" in Chinese and "LINGYIITECH" in English, and the stock code is "01688".

The 811,811,880 overseas listed shares (H shares) issued by the company this time were listed on the main board of The Stock Exchange of Hong Kong Limited on June 26, 2026 and listed for trading, resulting in the company's total share capital increasing from 7,308,198,680 shares to 8,120,010,560 shares. The company's controlling shareholder Lingsheng Investment (Jiangsu) Co., Ltd. and the actual controller Ms. Zeng Fangqin's total shareholding ratio dropped from 58.13% to 52.32% while the number of shares held by the company remained unchanged. Passive dilution touched 1% and multiple times of 5% in 2025. Announcement No. 2026- 072)

15. Major events of the company’s subsidiaries

□Applicable Not applicable

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Section 6 Share changes and shareholder status

1. Changes in shares

1. Changes in shares

Unit: Before this change in share capital Increase or decrease in this change (+, -) After this change

Quantity Proportion Issuance of new shares Bonus shares Conversion of provident funds Others Subtotal Quantity Proportion

1. Shares subject to sales restrictions 108,493,957 1.48% -75 -75 108,493,882 1.34%

2. State shareholding

3. Shareholding by state-owned legal persons

4. Other domestic shareholdings 91,323 0.00% -75 -75 91,248 0.00% of which: shares held by domestic legal persons

Shareholdings held by domestic natural persons 91,323 0.00% -75 -75 91,248 0.00%

4. Foreign shareholding 108,402,634 1.48% 108,402,634 1.34% of which: shareholding by overseas legal persons

Shareholdings held by overseas natural persons 108,402,634 1.48% 108,402,634 1.34%

2. Shares without selling restrictions 7,198,615,295 98.52% 811,811,880 1,089,503 812,901,383 8,011,516,678 98.66%

3. RMB ordinary shares 7,198,615,295 98.52% 1,089,503 1,089,503 7,199,704,798 88.67%

4. Domestic-listed foreign shares

5. Foreign-invested shares listed overseas 811,811,880 811,811,880 811,811,880 10.00%

6. Others

7. Total number of shares 7,307,109,252 100.00% 811,811,880 1,089,428 812,901,308 8,120,010,560 Reasons for changes in shares of 100.00%

Applicable □Not applicable

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1. With the approval of the Hong Kong Stock Exchange, 811,811,880 H shares issued by the company were listed and traded on the main board of the Hong Kong Stock Exchange on June 26, 2026. Therefore, the company increased 811,811,880 overseas listed foreign shares during the reporting period.

2. A total of 1,089,428 stock options were exercised during the first exercise period of the company's 2024 stock option incentive plan during the first exercise period, resulting in an increase of 1,089,428 shares in the company's total number of shares. Approval status of share changes

Applicable □Not applicable

The company's issuance of H shares and listing on the main board of the Hong Kong Stock Exchange were reviewed and approved at the 20th meeting of the company's sixth board of directors and the fifth extraordinary shareholders' meeting in 2025, and has obtained the "Notice on the Overseas Issuance and Listing of Guangdong Lingyi Intelligent Manufacturing Co., Ltd." (Guohe Han [2026] No. 1132) issued by the China Securities Regulatory Commission and the approval or approval of relevant regulatory agencies and stock exchanges such as the Hong Kong Securities and Futures Commission and the Hong Kong Stock Exchange.

Transfer status of changes in shares

□Applicable Not applicable

Implementation progress of share buybacks

Applicable □Not applicable

As of June 30, 2026, the company had repurchased a total of 22,199,300 shares of the company through centralized bidding transactions through the repurchase special securities account, accounting for 0.30% of the company's total share capital. The highest transaction price was 14.43 yuan/share, the lowest transaction price was 13.68 yuan/share, and the transaction amount was 311,132,511.58 yuan (excluding transaction fees). This repurchase complies with the requirements of relevant laws and regulations, and is in line with the company's established share repurchase plan.

Implementation progress of using centralized bidding method to reduce and repurchase shares

□Applicable Not applicable

The impact of changes in shares on financial indicators such as basic earnings per share and diluted earnings per share in the most recent year and period, net assets per share attributable to the company's common shareholders, etc.

Applicable □Not applicable

For the impact of share changes on financial indicators such as basic earnings per share and diluted earnings per share in the most recent year and period, net assets per share attributable to the company's common shareholders, please see "Section 2 Company Profile and Main Financial Indicators No. 4, Main Accounting Data and Financial Indicators" for details.

Other content that the company deems necessary or required to be disclosed by securities regulatory authorities

□Applicable Not applicable

2. Changes in restricted shares

Applicable □Not applicable

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Name of shareholder Number of shares with trading restrictions at the beginning of the period Number of shares with trading restrictions released in the current period Number of shares with trading restrictions increased in the current period Number of shares with trading restrictions at the end of the period Reason for selling restrictions Release date of selling restrictions Ma Lei 75 75 0 0 Departure locked shares Total on January 5, 2026 75 75 0 0 -- --

2. Securities issuance and listing

Applicable □Not applicable

Issuance price of stocks and their derivative securities (or approval to be listed and traded)

Issuance date Issuance quantity Listing date Trading termination date Disclosure index Disclosure date

Name Interest Rate) Transaction Quantity

Stocks

Juchao Information Network

(http://www.cninfo.com.cn/ne

June 26, 2026 June 2026

H shares HKD 10.18 811,811,880 811,811,880 w/index) "About H" disclosed on June 27, 2026 26

Announcement on the Listing and Trading of Stocks"

(Announcement No.: 2026-071)

Convertible corporate bonds, separately traded convertible corporate bonds, corporate bonds

Not applicable

Other derivative securities

Not applicable

Description of securities issuance during the reporting period

With the approval of the Hong Kong Stock Exchange, the 811,811,880 H shares issued by the company were listed and traded on the main board of the Hong Kong Stock Exchange on June 26, 2026.

3. Number of shareholders and shareholding status of the company

Unit: Share

402,139 (including 402,136 A shares, H shares. Total number of preference shareholders whose voting rights were restored at the end of the reporting period (if any)

Total number of common shareholders at the end of the reporting period: 0 registered shareholders (3) (see Note 8)

Shareholding status of shareholders holding more than 5% of the shares or the top 10 shareholders (excluding shares lent through refinancing)

Name of shareholder Nature of shareholder Shareholding ratio Number of shares held at the end of the reporting period Increase or decrease during the reporting period Holding restricted sales Holding no-selling clauses Pledge, mark or freeze status

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Share Status Quantity Quantity

Domestic non-state-owned

Leading Investment (Jiangsu) Co., Ltd. 50.98% 4,139,524,021 0 0 4,139,524,021 Pledge 182,220,000

legal person

HKSCC NOMINEES

Overseas legal person 10.00% 811,810,560 811,810,560 0 811,810,560 Not applicable 0 LIMITED

Hong Kong Securities Clearing Company Limited Overseas legal person 2.11% 171,567,619 41,876,833 0 171,567,619 Not applicable 0Zeng Fangqin Overseas natural person 1.34% 108,536,846 -36,000,000 108,402,634 134,212 Not applicable 0China Construction Bank Co., Ltd.

• E Fund National Certificate Robot Industry Exchange

Others 0.69% 56,196,883 27,915,620 0 56,196,883 Not applicable 0-type open-end index securities investment fund

gold

Xu Guancheng Domestic natural person 0.49% 39,823,688 39,823,688 0 39,823,688 Not applicable 0 Pan Yuhong Domestic natural person 0.45% 36,500,000 36,500,000 0 36,500,000 Not applicable 0 Zhang Qiang Domestic natural person 0.38% 31,000,000 30,849,800 0 31,000,000 Not applicable 0 Guangdong Lingyi Intelligent Manufacturing Co., Ltd.

Others 0.33% 26,400,000 0 0 26,400,000 Not applicable 0-2025 Employee Stock Ownership Plan

China Construction Bank Corporation

• Harvest CSI Rare Earth Industry Trading Others 0.31% 24,951,804 179,700 0 24,951,804 Not applicable 0 Open-end Index Securities Investment Fund

Strategic investors or general legal persons become the top 10 due to placement of new shares

Not applicable

Details of shareholders (if any) (see Note 3)

Ms. Zeng Fangqin is the actual controller of Lingsheng Investment (Jiangsu) Co., Ltd., and Lingsheng Investment and Ms. Zeng Fangqin form a concerted action relationship. In addition, the company does not know the explanations of the related relationships or concerted actions of the top 10 above-mentioned shareholders.

Whether there is an associated relationship between the other shareholders of the ordinary shares and whether there is a relationship of concerted action.

The above-mentioned shareholders involve entrustment/entrusted voting rights and abstention from voting.

Not applicable

Explanation of rights situation

Special note on the existence of special repurchase accounts among the top 10 shareholders. The top ten shareholders of the company include the special repurchase account of Guangdong Lingyi Intelligent Manufacturing Co., Ltd., which is the company's special repurchase account. As of the end of this reporting period, the number of company shares held (if any) (see Note 11) was 34,031,200 shares, accounting for 0.42% of the company's total share capital.

Shareholdings of the top 10 shareholders without sales restrictions (excluding shares lent through refinancing and shares locked by executives)

Share type

Name of shareholder Number of shares without selling restrictions held at the end of the reporting period

Type of shares Quantity Lingsheng Investment (Jiangsu) Co., Ltd. 4,139,524,021 RMB ordinary shares 4,139,524,021

Overseas listed foreign capital

HKSCC NOMINEES LIMITED 811,810,560 811,810,560

shares

Hong Kong Securities Clearing Company Limited 171,567,619 RMB ordinary shares 171,567,619 China Construction Bank Co., Ltd. - E Fund National Certificate Machine 56,196,883 RMB ordinary shares 56,196,883

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Xu Guancheng 39,823,688 RMB ordinary shares 39,823,688 Pan Yuhong 36,500,000 RMB ordinary shares 36,500,000 Zhang Qiang 31,000,000 RMB ordinary shares 31,000,000 Guangdong Lingyi Intelligent Manufacturing Co., Ltd. - 2025 employee ownership

26,400,000 RMB ordinary shares 26,400,000 share plan

China Construction Bank Corporation-Harvest CSI Rare Earth

24,951,804 RMB ordinary shares 24,951,804 Industrial exchange-traded open-end index securities investment funds

Abu Dhabi Investment Authority - Own funds 22,891,741 RMB ordinary shares 22,891,741 Among the top 10 shareholders without sales restrictions, and the top 10

Ms. Zeng Fangqin is the actual controller of Lingsheng Investment (Jiangsu) Co., Ltd., and Lingsheng Investment and Ms. Zeng Fangqin form a concerted action relationship. In addition, the company does not know the relationship between the top 10 shareholders subject to sales moratorium and the top 10 shareholders.

Whether there is an associated relationship between the other shareholders of the ordinary shares and whether there is a relationship of concerted action.

Description of ties or concerted actions

The top 10 ordinary shareholders’ participation in margin trading and securities lending business

Xu Guancheng holds 39,823,688 shares of the company through a credit securities account

Description (if any) (see Note 4)

The situation of shareholders holding more than 5% of the shares, the top 10 shareholders and the top 10 shareholders of unrestricted tradable shares participating in the refinancing business and lending shares

□Applicable Not applicable

The top 10 shareholders and the top 10 shareholders of unrestricted tradable shares have changed from the previous period due to refinancing lending/returning.

□Applicable Not applicable

Whether the company's top 10 ordinary shareholders and the top 10 unrestricted ordinary shareholders conducted agreed repurchase transactions during the reporting period

□Yes No

The company's top 10 common shareholders and the top 10 common shareholders without selling restrictions did not conduct agreed repurchase transactions during the reporting period.

4. Changes in shareholdings of directors and senior managers

Applicable □Not applicable

Number of shares held at the beginning of the period Increase in shares held during the period Decrease in shares held during the period Number of shares held at the end of the period Restrictions granted at the beginning of the period Restrictions granted during the period Name of restricted shares granted at the end of the period Position Position Status

(shares) Quantity (shares) Quantity (shares) (shares) Number of shares (shares) Number of shares (shares) Number of shares (shares)

Chairman,

Zeng Fangqin Current 144,536,846 0 36,000,000 108,536,846 0 0 0General Manager

Total -- -- 144,536,846 0 36,000,000 108,536,846 0 0 0

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5. Changes in controlling shareholders or actual controllers

If the company has previously disclosed that the actual controller is planning a change of control but has not yet completed it, please explain the progress of the change of control. □Applicable Not applicable

Changes in controlling shareholders during the reporting period

□Applicable Not applicable

The company's controlling shareholder did not change during the reporting period. Changes in actual controller during the reporting period

□Applicable Not applicable

The actual controller of the company did not change during the reporting period.

6. Relevant information on preference shares

□Applicable Not applicable

There were no preferred shares in the company during the reporting period.

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Section 7 Bond-related situations □Applicable Not applicable

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Section 8 Financial Report

1. Audit report

Has the semi-annual report been audited?

□Yes No

The company's semi-annual financial report has not been audited.

2. Financial statements

The unit of statements in the financial notes is: Yuan

1. Consolidated balance sheet

Prepared by: Guangdong Lingyi Intelligent Manufacturing Co., Ltd.

June 30, 2026

Unit: Yuan

Item Ending balance Beginning balance

Current assets:

Monetary funds 11,443,051,056.63 6,183,127,578.46 Settlement reserves

Loan funds

Trading financial assets 2,133,167,241.51 1,529,402,409.97 Derivative financial assets

Notes receivable 401,608,559.61 253,945,303.23 Accounts receivable 12,080,188,639.49 13,769,759,950.12 Receivables financing 357,259,632.66 403,378,297.24 Advance payments 174,335,471.53 126,352,737.35 Premiums receivable

Reinsurance accounts receivable

Receivable reinsurance contract reserves

Other receivables 300,178,958.68 426,267,877.26 Including: interest receivable

Dividends receivable 896,107.02

Buy financial assets under resale agreements

Inventory 8,028,299,134.78 7,189,891,213.02

Among them: data resources

Contract assets 1,640,067.50 80,151.50 Assets held for sale

Non-current assets due within one year

Other current assets 1,701,327,702.18 1,400,040,306.39 Total current assets 36,621,056,464.57 31,282,245,824.54

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Item Ending balance Beginning balance

Non-current assets:

Grant loans and advances

debt investment

Other debt investments

long-term receivables

Long-term equity investment 802,129,205.80 796,950,944.27 Other equity instrument investment 135,243,677.17 85,325,212.45 Other non-current financial assets 77,210,096.32 18,126,616.36 Investment real estate 266,177,106.67 275,232,142.89 Fixed assets 15,058,523,894.11 14,444,823,272.09 Construction in progress 3,094,836,769.63 2,859,779,949.07 Productive biological assets

oil and gas assets

Right-of-use assets 1,574,967,390.41 1,386,698,847.81 Intangible assets 1,352,337,448.54 1,261,886,025.89

Among them: data resources

Development expenditure 2,912,412.33

Among them: data resources

Goodwill 3,487,654,996.10 2,703,669,154.54 Long-term deferred expenses 620,504,535.48 529,039,112.62 Deferred income tax assets 782,144,926.59 732,459,945.09 Other non-current assets 1,532,043,728.17 1,524,213,953.70 Total non-current assets 28,786,686,187.32 26,618,205,176.78 Total assets 65,407,742,651.89 57,900,451,001.32 Current liabilities:

Short-term borrowings 6,278,568,438.67 4,531,560,030.93 Borrowings from the central bank

borrowing funds

Trading financial liabilities

Derivative financial liabilities

Notes payable 1,199,458,151.35 1,611,216,404.47 Accounts payable 11,115,328,976.75 12,492,067,797.92 Advance receipts 188,082.71 573,527.77 Contract liabilities 49,918,044.81 92,664,384.28 Financial assets sold and repurchased

Taking deposits and placing deposits with other banks

Agent for buying and selling securities

Agent underwriting securities funds

Employee benefits payable 510,356,968.70 586,495,596.73 Taxes payable 610,347,685.59 690,039,937.01 Other payables 1,005,325,955.31 1,175,817,216.22

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Item Ending balance Beginning balance

Among them: interest payable

Dividends payable 6,351,916.78 6,351,916.78 Handling fees and commissions payable

Reinsurance accounts payable

Liabilities held for sale

Non-current liabilities due within one year 4,537,227,300.86 5,120,134,579.16 Other current liabilities 404,334,130.70 183,943,656.24 Total current liabilities 25,711,053,735.45 26,484,513,130.73 Non-current liabilities:

insurance contract reserves

Long-term borrowings 5,077,922,049.67 4,299,483,172.84 Bonds payable

Among them: preferred shares

perpetual bond

Lease liabilities 1,267,407,801.05 1,116,941,539.44 Long-term payables 6,567,033.63

Long-term employee benefits payable 38,846,865.54 36,812,896.54 Estimated liabilities

Deferred income 584,115,105.36 627,581,893.02 Deferred income tax liabilities 307,104,010.35 340,876,256.99 Other non-current liabilities 397,732,895.92 636,293,850.39 Total non-current liabilities 7,679,695,761.52 7,057,989,609.22 Total liabilities 33,390,749,496.97 33,542,502,739.95 Owners’ equity:

Share capital 2,034,804,445.81 1,830,828,680.30 Other equity instruments

Among them: preferred shares

perpetual bond

Capital reserve 18,528,613,161.10 11,429,755,296.04 Less: treasury shares 715,421,965.17 405,112,535.77 Other comprehensive income -375,724,092.20 -243,601,997.86 Special reserves

Surplus reserve 987,000,000.00 987,000,000.00 General risk reserve

Undistributed profits 11,059,419,195.40 10,441,272,317.12 Total owners’ equity attributable to the parent company 31,518,690,744.94 24,040,141,759.83 Minority shareholders’ equity 498,302,409.98 317,806,501.54 Total owners’ equity 32,016,993,154.92 24,357,948,261.37 Total liabilities and owners’ equity 65,407,742,651.89 57,900,451,001.32 Legal representative: Zeng Fangqin Person in charge of accounting work: Wang Tao Head of accounting department: Huang Huangrong

2. Balance sheet of the parent company

Unit: Yuan Item Ending balance Beginning balance

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Item Ending balance Beginning balance

Current assets:

Monetary funds 7,200,910,498.03 346,780,570.87 Trading financial assets 100,720,000.00 Derivative financial assets

Notes receivable 100,952,039.55 677,764.24 Accounts receivable 563,009,521.51 460,816,412.48 Receivables financing 1,653,926.42 28,247,267.80 Advance payments

Other receivables 8,197,920,063.38 9,124,929,620.35 Including: interest receivable

Dividends receivable 176,107.02

Inventory 50,451,416.02 49,971,866.81

Among them: data resources

contract assets

Assets held for sale

Non-current assets due within one year

Other current assets 6,425,725.91 17,175,166.81 Total current assets 16,121,323,190.82 10,129,318,669.36 Non-current assets:

debt investment

Other debt investments

Long-term receivables 1,800,228,263.36 881,006,263.36 Long-term equity investment 29,396,635,528.68 28,267,983,184.16 Other equity instrument investments 59,404,183.45 27,595,718.73 Other non-current financial assets 77,210,096.32 18,126,616.36 Investment real estate 92,053,468.03 94,236,073.86 Fixed assets 298,420.21 787,304.64 Construction in progress 165,625,139.48 134,083,854.03 Productive biological assets

oil and gas assets

right-of-use assets

Intangible assets 26,596,553.37 27,830,264.60

Among them: data resources

development expenditure

Among them: data resources

goodwill

Long-term deferred expenses 97,489.61 127,448.58 Deferred income tax assets 23,609,005.83 31,561,122.01 Other non-current assets 202,776,523.37 199,920,467.72 Total non-current assets 31,844,534,671.71 29,683,258,318.05 Total assets 47,965,857,862.53 39,812,576,987.41

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Item Ending balance Beginning balance

Current liabilities:

short term borrowing

Trading financial liabilities

Derivative financial liabilities

Notes payable 22,815,681.48 7,109,484.22 Accounts payable 454,625,241.39 332,340,634.32 Advance payments 48,399.31

Contract liabilities

Employee benefits payable 2,528,630.15 3,714,563.37 Taxes payable 2,873,145.04 1,295,052.72 Other payables 1,345,617,793.60 1,019,586,447.12 Including: interest payable

Dividends payable 6,351,916.78 6,351,916.78 Liabilities held for sale

Non-current liabilities due within one year 148,781,383.26 132,142,882.47 Other current liabilities

Total current liabilities 1,977,290,274.23 1,496,189,064.22 Non-current liabilities:

Long-term borrowings 1,155,106,250.00 383,800,000.00 Bonds payable

Among them: preferred shares

perpetual bond

Lease liability

long-term payables

Long-term employee benefits payable

Estimated liabilities

deferred income

Deferred income tax liability

Other non-current liabilities

Total non-current liabilities 1,155,106,250.00 383,800,000.00 Total liabilities 3,132,396,524.23 1,879,989,064.22 Owners’ equity:

Share capital 8,120,010,560.00 7,306,060,977.00 Other equity instruments

Among them: preferred shares

perpetual bond

Capital reserve 30,035,394,633.40 23,544,534,990.95 Less: treasury shares 715,421,965.17 405,112,535.77 Other comprehensive income 29,056,634.73 5,167,257.42 Special reserves

Surplus reserve 1,179,958,487.66 1,179,958,487.66 Undistributed profits 6,184,462,987.68 6,301,978,745.93 Total owners’ equity 44,833,461,338.30 37,932,587,923.19 Total liabilities and owners’ equity 47,965,857,862.53 39,812,576,987.41

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3. Consolidated income statement

Unit: Yuan

Project Half-year 2026 Half-year 2025

1. Total operating income 25,149,133,679.37 23,625,285,379.19 Including: operating income 25,149,133,679.37 23,625,285,379.19 Interest income

Premiums earned

Fee and commission income

2. Total operating costs 24,436,696,613.73 22,397,490,407.26 Including: operating costs 20,942,668,062.00 20,062,727,354.37 Interest expenses

Handling fees and commission expenses

surrender deposit

Net compensation expenses

Net withdrawal of insurance liability reserves

policy dividend payout

Reinsurance cost

Taxes and surcharges 102,279,832.45 93,347,845.26 Sales expenses 257,253,670.72 190,331,699.28 Management expenses 1,072,874,158.05 810,078,047.64 Research and development expenses 1,441,670,102.04 1,127,533,731.48 Financial expenses 619,950,788.47 113,471,729.23 Including: interest expenses 198,184,602.79 174,370,895.79

Interest income 51,045,077.75 40,354,209.09 plus: other income 174,770,539.10 134,876,480.20 investment income (losses are filled in with "-"

241,191,638.80 51,780,505.30 columns)

Of which: for associates and joint ventures

27,449,045.27 30,118,200.08 Enterprise’s investment income

Measured at amortized cost

Income from derecognition of financial assets

Exchange gains (losses are filled in with "-"

column)

Net exposure hedging gain (losses indicated by “—”

(Fill in the number)

Gains from changes in fair value (losses represented by “—

72,084,302.83 85,755,031.04 "Fill in the numbers)

Credit impairment losses (losses are marked with “—”

68,940,094.22 113,707,070.74 fill in the column)

Asset impairment losses (losses are marked with “—”

-359,661,330.40 -426,282,738.50 fill in the column)

Income from asset disposal (losses are marked with “—”

2,237,547.75 34,852,257.31 fill in the column)

3. Operating profit (losses are listed with “—”) 911,999,857.94 1,222,483,578.02

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Project Half-year 2026 Half-year 2025

Add: non-operating income 5,584,274.24 4,602,298.17

Less: Non-operating expenses 18,374,343.29 3,677,004.10

4. Total profit (total loss is filled in with “—”

899,209,788.89 1,223,408,872.09 columns)

Less: Income tax expenses 122,171,751.72 281,062,254.67

5. Net profit (net loss is listed with “—”) 777,038,037.17 942,346,617.42

(1) Classification by business continuity

1. Net profit from continuing operations (net loss is represented by “—”

No. 777,038,037.17 942,346,617.42 (please fill in the list)

2. Net profit from discontinued operations (net loss is represented by “—”

(Fill in the number)

(2) Classification according to ownership ownership

1. Net profit attributable to shareholders of the parent company

763,630,227.88 929,860,823.22 (Net loss is listed with “—”)

2. Profit and loss of minority shareholders (net loss is marked with “—”

13,407,809.29 12,485,794.20 fill in the column)

6. Net after-tax amount of other comprehensive income -132,369,570.11 57,499,984.58 Other comprehensive income attributable to owners of the parent company

-132,122,094.34 57,499,984.58 net amount after tax

(1) Others that cannot be reclassified into profit or loss

25,090,170.24 -1,120,000.00 Comprehensive income

1. Remeasure changes in defined benefit plans

1,233,821.70

Um

2. Others that cannot be transferred to profit or loss under the equity method

Comprehensive income

3. Fair value of other equity instrument investments

23,856,348.54 -1,120,000.00 change

4. Fair value of the company’s own credit risk

change

5.Others

(2) Other comprehensive items that will be reclassified into profit or loss

-157,212,264.58 58,619,984.58 combined income

1. Other comprehensive items that can be transferred to profits and losses under the equity method

-11,434,719.21 -6,955,476.47 combined income

2. Changes in fair value of other debt investments

3. Financial assets are reclassified into other comprehensive

Amount of combined income

4. Credit impairment provisions for other debt investments

5. Cash flow hedging reserve

6. Translation difference of foreign currency financial statements -145,777,545.37 65,575,461.05

7.Others

Other comprehensive income attributable to minority shareholders

-247,475.77

net of tax

7. Total comprehensive income 644,668,467.06 999,846,602.00 Total comprehensive income attributable to owners of the parent company

631,508,133.54 987,360,807.80 amount

Total comprehensive income attributable to minority shareholders 13,160,333.52 12,485,794.20

8. Earnings per share:

(1) Basic earnings per share 0.11 0.13

(2) Diluted earnings per share 0.10 0.13

If a business merger under the same control occurs in this period, the net profit realized by the merged party before the merger is: 0.00 yuan, and the net profit realized by the merged party in the previous period is: 0.00 yuan.

Legal representative: Zeng Fangqin Person in charge of accounting work: Wang Tao Person in charge of accounting department: Huang Jinrong

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4. Income statement of the parent company

Unit: yuan project 2026 half year 2025 half year

1. Operating income 823,276,536.10 819,718,372.96 Less: Operating costs 771,772,065.14 778,477,577.22 Taxes and surcharges 4,175,712.75 2,921,118.93 Sales expenses 779,079.09 133,199.61 Management expenses 8,103,727.11 3,141,522.02 Research and development expenses

Financial expenses 23,231,602.69 29,252,629.60Including: interest expenses 18,197,752.75 32,772,005.49Interest income 2,781,819.64 3,739,662.09Plus: other income 3,015,613.68 195,636.61 investment income (losses are filled in with “—”

34,027,865.02 14,572,160.59 columns)

Of which: for associates and joint ventures

31,151,067.30 10,319,865.57 Investment income from the industry

Money measured at amortized cost

Gains from the derecognition of financial assets (losses are marked with “—”

Fill in the column)

Net exposure hedging gain (losses indicated by “—”

(Fill in the number)

Gains from changes in fair value (losses represented by “—

-716,520.04 -49,367,612.52 "Fill in the number)

Credit impairment losses (losses are marked with “—”

-23,421,623.68 20,301,673.84 fill in the column)

Asset impairment losses (losses are marked with “—”

-1,041,231.77 -583,457.47 fill in the column)

Income from asset disposal (losses are marked with “—”

Fill in the column)

2. Operating profit (losses are listed with "-") 27,078,452.53 -9,089,273.37 plus: non-operating income 889,138.82 206,607.67 minus: non-operating expenses

3. Total profit (total loss is filled in with “—”

27,967,591.35 -8,882,665.70 columns)

Less: Income tax expense 8,433,155.94

4. Net profit (net loss is listed with "—") 27,967,591.35 -17,315,821.64

(1) Net profit from continuing operations (net loss divided by

27,967,591.35 -17,315,821.64 (Fill in “—”)

(2) Net profit from discontinued operations (net loss equal to

Fill in the column with "—" sign)

5. Net after-tax amount of other comprehensive income 23,889,377.31 -1,127,036.92

(1) Others that cannot be reclassified into profit or loss

23,856,348.54 -1,120,000.00 Comprehensive income

1. Remeasure changes in defined benefit plans

Um

2. Others that cannot be transferred to profit or loss under the equity method

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Item 2026 Half Year Comprehensive Income for 2025 Half Year

3. Fair value of other equity instrument investments

23,856,348.54 -1,120,000.00 change

4. Fair value of the company’s own credit risk

change

5.Others

(2) Other comprehensive items that will be reclassified into profit or loss

33,028.77 -7,036.92 combined income

1. Other comprehensive items that can be transferred to profits and losses under the equity method

33,028.77 -7,036.92 combined income

2. Changes in fair value of other debt investments

3. Financial assets are reclassified into other comprehensive

Amount of combined income

4. Credit impairment provisions for other debt investments

5. Cash flow hedging reserve

6. Translation differences of foreign currency financial statements

7.Others

6. Total comprehensive income 51,856,968.66 -18,442,858.56

7. Earnings per share:

(1) Basic earnings per share

(2) Diluted earnings per share

5. Consolidated cash flow statement

Unit: Yuan

Project Half-year 2026 Half-year 2025

1. Cash flow generated from operating activities:

Cash received from sales of goods and provision of services 27,091,968,098.06 24,124,088,041.55 Net increase in customer deposits and deposits from banks

Net increase in borrowing from the central bank

Net increase in borrowing funds from other financial institutions

Cash received from premiums from the original insurance contract

Net cash received from reinsurance business

Net increase in policyholders’ savings and investment funds

Cash collected from interest, fees and commissions

Net increase in borrowing funds

Net increase in repurchase business funds

Net cash received from buying and selling securities on behalf of agents

Tax returns received 1,111,299,104.15 853,620,537.73 Other cash received related to operating activities 195,065,046.95 193,633,373.84 Subtotal of cash inflows from operating activities 28,398,332,249.16 25,171,341,953.12 Cash for purchasing goods and receiving services 19,798,259,435.47 17,783,715,308.94

Net increase in loans and advances to customers

Net increase in deposits with central banks and inter-banks

Cash used to pay compensation from the original insurance contract

Net increase in lending funds

Cash payments for interest, fees and commissions

Cash payment for policy dividends

Cash paid to and for employees 5,554,079,025.68 4,583,921,046.81 Various taxes and fees paid 1,002,472,388.09 885,082,526.02 Cash paid for other operating activities 333,602,305.61 245,455,261.95

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Project Half-year 2026 Half-year 2025

Subtotal of cash outflows from operating activities 26,688,413,154.85 23,498,174,143.72 Net cash flow from operating activities 1,709,919,094.31 1,673,167,809.40

2. Cash flow generated from investing activities:

Cash received from recovery of investment 26,048,915.83

Cash received from investment income 81,763,527.38 21,363,716.70 Disposal of fixed assets, intangible assets and other long-term assets

5,727,418.55 Net cash amount recovered from assets in period 15,580,282.61

Received from disposal of subsidiaries and other business units

net cash

Other cash received related to investing activities 2,395,670,976.14 77,634,140.37 Subtotal of cash inflows from investing activities 2,509,210,837.90 114,578,139.68 Purchase and construction of fixed assets, intangible assets and other long-term assets

2,577,243,911.80 2,292,375,547.43 Cash paid for assets

Cash paid for investment 108,110,000.00

Net increase in mortgage loans

Obtain payment from subsidiaries and other business units

1,179,575,681.16

net cash

Other cash payments related to investing activities 2,822,717,337.79 1,663,602,352.24 Subtotal cash outflows from investing activities 6,687,646,930.75 3,955,977,899.67 Net cash flow generated from investing activities -4,178,436,092.85 -3,841,399,759.99

3. Cash flow generated from financing activities:

Cash received from investment 7,146,557,155.31

Among them: subsidiaries absorb investment income from minority shareholders

16,000,000.00

Cash arrived

Cash received from borrowings 8,300,903,849.26 3,930,272,667.98 Cash received from other financing activities 9,448,647.26 170,000,000.00 Subtotal of cash inflows from financing activities 15,456,909,651.83 4,100,272,667.98 Cash paid to repay debts 6,628,540,005.52 2,307,551,166.61

Distribution of dividends, profits or repayment of interest payments

279,660,742.87 253,558,030.23 cash

Including: shares paid by subsidiaries to minority shareholders

4,841,600.00 2,611,286.23 Profits

Cash payments related to other financing activities 686,281,072.35 621,214,642.66 Subtotal cash outflows from financing activities 7,594,481,820.74 3,182,323,839.50 Net cash flow generated from financing activities 7,862,427,831.09 917,948,828.48

4. The impact of exchange rate changes on cash and cash equivalents

-151,158,613.68 14,013,217.24 impact

5. Net increase in cash and cash equivalents 5,242,752,218.87 -1,236,269,904.87 plus: opening balance of cash and cash equivalents 5,447,510,912.86 6,038,980,458.32

6. Balance of cash and cash equivalents at the end of the period 10,690,263,131.73 4,802,710,553.45

7. Cash flow statement of the parent company

Unit: Yuan

Project Half-year 2026 Half-year 2025

1. Cash flow generated from operating activities:

Cash received from selling goods and providing services 701,439,091.52 936,928,255.79 Tax refunds received

Other cash received related to operating activities 4,714,759.81 16,518,173.78 Subtotal of cash inflows from operating activities 706,153,851.33 953,446,429.57 Cash paid for purchasing goods and receiving services 541,789,131.15 711,124,884.62 Cash paid to and for employees 24,686,591.86 26,446,940.28 Various taxes paid 2,752,834.40 10,180,413.63 Cash paid for other operating activities 7,722,712.83 2,502,082.94

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Project Half-year 2026 Half-year 2025

Subtotal cash outflow from operating activities 576,951,270.24 750,254,321.47 Net cash flow generated from operating activities 129,202,581.09 203,192,108.10

2. Cash flow generated from investing activities:

Cash received from recovery of investment 7,288,232.54

Cash received from investment income 82,305,620.17 21,147,582.89 Disposal of fixed assets, intangible assets and other long-term assets

Net cash amount recovered from assets in period 43,814.95

Received from disposal of subsidiaries and other business units

net cash

Other cash received related to investing activities 1,324,584,042.13 2,683,646,611.28 Subtotal of cash inflows from investing activities 1,414,177,894.84 2,704,838,009.12 Purchase and construction of fixed assets, intangible assets and other long-term assets

129,832,098.35 1,640,410.99 Cash paid for assets

Cash paid for investment 995,000,000.00 333,626,500.00

Obtain payment from subsidiaries and other business units

net cash

Other cash payments related to investing activities 1,429,673,983.70 2,039,707,677.83 Subtotal cash outflow from investing activities 2,554,506,082.05 2,374,974,588.82 Net cash flow generated from investing activities -1,140,328,187.21 329,863,420.30

3. Cash flow generated from financing activities:

Cash received from investment 7,130,557,155.31

Cash received from borrowing 984,125,000.00 280,000,000.00

Other cash received related to financing activities 620,274,694.23 11,909,493.74 Subtotal of cash inflows from financing activities 8,734,956,849.54 291,909,493.74 Cash paid to repay debts 196,606,250.00 23,490,000.00 distributed dividends, profits or paid interest

163,495,134.51 146,134,620.24 cash

Cash payments related to other financing activities 505,461,363.04 820,453,624.20 Subtotal cash outflows from financing activities 865,562,747.55 990,078,244.44 Net cash flow generated from financing activities 7,869,394,101.99 -698,168,750.70

4. The impact of exchange rate changes on cash and cash equivalents

-7,103,362.42 -1,125,102.42 impact

5. Net increase in cash and cash equivalents 6,851,165,133.45 -166,238,324.72

Add: Balance of cash and cash equivalents at the beginning of the period 345,101,142.56 793,520,070.88

6. Closing balance of cash and cash equivalents 7,196,266,276.01 627,281,746.16

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7. Consolidated statement of changes in owners’ equity

Amount of current period

Unit: yuan for the first half of 2026

Owner's equity attributable to parent company

Items Other Equity Instruments Special General Minority Equity Owners’ Equity Total Equity Priority Perpetual Capital Reserve Less: Treasury Stock Other Comprehensive Income Surplus Reserve Risk Undistributed Profit Others Subtotal Others Reserves

Stock Debt Preparation

1. Ending balance of the previous year

1,830,828,680.30 11,429,755,296.04 405,112,535.77 -243,601,997.86 987,000,000.00 10,441,272,317.12 24,040,141,759.83 317,806,501.54 24,357,948,261.37

Add: Accounting

policy change

upfront difference

Error correction

Others

2. Balance at the beginning of the current year

1,830,828,680.30 11,429,755,296.04 405,112,535.77 -243,601,997.86 987,000,000.00 10,441,272,317.12 24,040,141,759.83 317,806,501.54 24,357,948,261.37

3. Increases and decreases in this period

Active amount (decreased by 203,975,765.51 7,098,857,865.06 310,309,429.40 -132,122,094.34 618,146,878.28 7,478,548,985.11 180,495,908.44 7,659,044,893.55 (Fill in “—”)

(1) Comprehensive income

-132,122,094.34 763,630,227.88 631,508,133.54 13,160,333.52 644,668,467.06Total

(2) Owner investment

203,975,765.51 7,098,857,865.06 310,309,429.40 6,992,524,201.17 173,387,574.92 7,165,911,776.09 Capital investment and reduction

1． owner input

203,440,057.13 6,898,684,831.98 7,102,124,889.11 16,644,127.72 7,118,769,016.83 common shares

2. Other equity workers

Tool holder invests

Ben

3. share-based payment plan

535,708.38 200,538,107.48 -888,418.48 201,962,234.34 542,040.58 202,504,274.92 into owner’s equity

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Stock Debt Reserve Amount

4. Others -365,074.40 311,197,847.88 -311,562,922.28 156,201,406.62 -155,361,515.66

(3) Profit distribution -145,483,349.60 -145,483,349.60 -6,052,000.00 -151,535,349.60 1. Withdrawal of surplus

Accumulate

2. extract general wind

Risk preparation

3. to owner

(or shareholders) -145,483,349.60 -145,483,349.60 -6,052,000.00 -151,535,349.60

4. Others

(4) Ownership rights

Profit internally carried forward

1． Capital reserve transfer

Increase capital (or shares

this)

2. Transfer of surplus reserve

Increase capital (or shares

this)

3. surplus reserve

make up for losses

4. defined benefit plan

Transfer balance carry forward

savings income

5. Other comprehensive income

Earnings carried forward to retained earnings

6. Others

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Owner's equity attributable to parent company

Items Other equity instruments Special General Minority interests Total owners’ equity Equity Priority Perpetual Capital reserves Less: treasury shares Other comprehensive income Surplus reserves Risks Undistributed profits Others Subtotal

Other reserves

Stock Debt Preparation

(5) Special reserves

1． Extract this period

2. Used in this issue

(6) Others

4. Balance at the end of this period

2,034,804,445.81 18,528,613,161.10 715,421,965.17 -375,724,092.20 987,000,000.00 11,059,419,195.40 31,518,690,744.94 498,302,409.98 32,016,993,154.92

Amount of previous year

Unit: yuan for the first half of 2025

Owner's equity attributable to parent company

Items Other equity instruments Special General Minority shareholders’ rights Total owners’ equity Share capital Priority Perpetual Capital reserves Less: treasury shares Other comprehensive income Surplus reserves Risks Undistributed profits Others Subtotal Profit Other Reserves

Stock Debt Preparation

Prepare

1. Ending balance of the previous year

1,756,179,160.91 45,700,714.31 8,843,189,779.52 226,749,531.24 -130,936,057.59 987,000,000.00 8,533,285,964.93 19,807,670,030.84 67,329,695.83 19,874,999,726.67

Add: Accounting

policy change

upfront difference

Error correction

Others 72,893,381.17 -94,228,472.66 -21,335,091.49 -4,683,381.17 -26,018,472.66

2. Balance at the beginning of the current year

1,756,179,160.91 45,700,714.31 8,916,083,160.69 226,749,531.24 -130,936,057.59 987,000,000.00 8,439,057,492.27 19,786,334,939.35 62,646,314.66 19,848,981,254.01

3. Increases and decreases in this period

-

Active amount (decreased by 1,044.22 109,009,878.21 318,943,476.38 57,499,984.58 789,697,266.84 625,838,699.99 12,100,940.01 637,939,640.00

11,425,997.48

Fill in the column with "—" sign)

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(1) Comprehensive income

57,499,984.58 929,860,823.22 987,360,807.80 12,485,794.20 999,846,602.00 Total

(2) Owner’s investment -

1,044.22 109,009,878.21 318,943,476.38 -221,358,551.43 2,226,432.04 -219,132,119.39 Capital investment and reduction 11,425,997.48 1. invested by the owner

common stock

2. Other equity instruments

1,044.22 -818.90 37,063.45 37,288.77 -2,549,999.90 -2,512,711.13 Capital invested by holders

3. Share-based payment included

Owner’s equity 143,023,655.37 -968,497.44 143,992,152.81 138,630.12 144,130,782.93

• 4． Others -34,050,840.61 319,911,973.82 -365,387,993.01 4,637,801.82 -360,750,191.19

11,425,178.58

(3) Profit distribution -140,163,556.38 -140,163,556.38 -2,611,286.23 -142,774,842.61 1. Withdrawal from surplus reserve

2. Extract general risk

Prepare

3. to the owner (or

-140,163,556.38 -140,163,556.38 -2,611,286.23 -142,774,842.61 Distribution from shareholders)

4. Others

(4) Ownership rights

Profit internally carried forward

1． Capital reserve transfer to increase

capital (or equity)

2. Transfer of surplus reserve to increase

capital (or equity)

3. Make up surplus reserve

Loss

4. defined benefit plan

Changes carried forward and retained

income

5. other comprehensive income

Carry forward retained earnings

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(5) Special reserves

1． Extract this period

2. Used in this issue

(6) Others

4. Balance at the end of this period

1,756,180,205.13 34,274,716.83 9,025,093,038.90 545,693,007.62 -73,436,073.01 987,000,000.00 9,228,754,759.11 20,412,173,639.34 74,747,254.67 20,486,920,894.01

8. Statement of changes in owner’s equity of the parent company

Amount of current period

Unit: yuan for the first half of 2026

Other equity instruments

Project

Equity Priority Capital Reserve Less: Treasury Stock Other Comprehensive Income Special Reserve Surplus Reserve Undistributed Profits Others Total Owners’ Equity Perpetual Bonds Others

shares

1. End of the previous year 1,179,958

7,306,060,977.00 23,544,534,990.95 405,112,535.77 5,167,257.42 6,301,978,745.93 37,932,587,923.19 Balance, 487.66

Plus: Accounting

Policy changes

Early stage

error correction

Others

2. Beginning of the current year 1,179,958

7,306,060,977.00 23,544,534,990.95 405,112,535.77 5,167,257.42 6,301,978,745.93 37,932,587,923.19 Balance, 487.66

3. Increases and decreases in this period

Change amount (less

813,949,583.00 6,490,859,642.45 310,309,429.40 23,889,377.31 -117,515,758.25 6,900,873,415.11 Please fill in with "—"

column)

(1) Comprehensive collection

23,889,377.31 27,967,591.35 51,856,968.66 Total profit

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Project

Equity Priority Capital Reserve Less: Treasury Stock Other Comprehensive Income Special Reserve Surplus Reserve Undistributed Profits Others Total Owners’ Equity Perpetual Bonds Others

shares

(2) Owner

Investment and reduction of capital 813,949,583.00 6,490,859,642.45 310,309,429.40 6,994,499,796.05

1． owner input

811,811,880.00 6,290,957,136.83 7,102,769,016.83 common shares

2. Other equity workers

Tool holder investment

capital

3. share-based payment plan

Amount entered into owners’ equity 2,137,703.00 199,505,149.83 -888,418.48 202,531,271.31

4. Others 397,355.79 311,197,847.88 -310,800,492.09

(3) Profit sharing

-145,483,349.60 -145,483,349.60 matching

1． Withdrawal of surplus

Accumulate

2. to owner

(or shareholders) -145,483,349.60 -145,483,349.60 distribution

3. Others

(4) Owner

Internal transfer of equity

1． Capital reserve transfer

Increase capital (or shares

this)

2. Transfer of surplus reserve

Increase capital (or shares

this)

3. surplus reserve

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Project

Equity Priority Capital Reserve Less: Treasury Stock Other Comprehensive Income Special Reserve Surplus Reserve Undistributed Profits Others Total Owners’ Equity Perpetual Bonds Others

shares

make up for losses

4. defined benefit plan

Transfer changes carried forward

retained earnings

5. Other comprehensive income

Earnings carried forward and retained

benefit

6. Others

(5) Special storage

Prepare

1． Extract this period

2. Used in this issue

(6) Others

4. End of the current period 1,179,958

8,120,010,560.00 30,035,394,633.40 715,421,965.17 29,056,634.73 6,184,462,987.68 44,833,461,338.30 Balance, 487.66 Previous year’s amount

Unit: Yuan Other equity instruments for the first half of 2025

Items Special equity priority Capital reserve Less: treasury shares Other comprehensive income Surplus reserve Undistributed profits Others Total owners’ equity Perpetual bonds Others Reserves

shares

1. Previous year period

7,008,177,819.00 45,700,714.31 21,144,744,832.44 226,749,531.24 -1,546,370.75 1,178,399,721.45 6,573,458,609.46 Ending balance of 35,722,185,794.67

Add: yes

Changes in accounting policies

before

period error correction

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Other equity instruments

Project Special

Equity Priority Capital Reserve Less: Treasury Shares Other Comprehensive Income Surplus Reserve Undistributed Profits Others Total Owners’ Equity Perpetual Bonds Others Reserves

shares

its

him

2. Current year

7,008,177,819.00 45,700,714.31 21,144,744,832.44 226,749,531.24 -1,546,370.75 1,178,399,721.45 6,573,458,609.46 35,722,185,794.67 Initial balance

3. Added in this issue

Less change amount

4,167.00 -11,425,997.48 142,706,002.82 318,943,476.38 -1,127,036.92 -157,479,378.02 -346,265,718.98 (reduced by “—”

(Fill in the number)

(1) Comprehensive

-1,127,036.92 -17,315,821.64 -18,442,858.56Total income

(2) All

Investors’ investment and reduction 4,167.00 -11,425,997.48 142,706,002.82 318,943,476.38 -187,659,304.04 Less capital

1． owner vote

Common shares invested

2. Other rights and interests

Instrument holders 4,167.00 -818.90 33,940.67 37,288.77Input capital

3. share-based payment

Amount included in owner's equity 143,239,521.59 -968,497.44 144,208,019.03

4. Others -11,425,178.58 -567,459.44 319,911,973.82 -331,904,611.84

(3) Profit

-140,163,556.38 -140,163,556.38 allocation

1． Withdraw surplus

public area

2. to owner

(or shareholders) -140,163,556.38 -140,163,556.38 distribution

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Share 3. Others

(4) Internal carryover of owners’ equity

1． Convert capital reserve to capital (or share capital) 2. Convert surplus reserves to capital (or share capital) 3. Surplus reserve to make up for losses 4. Changes in defined benefit plans are carried forward to retained earnings

5. Other comprehensive income carried forward to retained earnings

6. Others

(5) Special reserves

1． Extract this issue 2. Used in this issue

(6) Others

4. This period

7,008,181,986.00 34,274,716.83 21,287,450,835.26 545,693,007.62 -2,673,407.67 1,178,399,721.45 6,415,979,231.44 Ending balance of 35,375,920,075.69

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3. Basic situation of the company

(1) Company registration place, organizational form and headquarters address

Guangdong Lingyi Intelligent Manufacturing Co., Ltd. (formerly Guangdong Jiangfen Magnetic Materials Co., Ltd., hereinafter referred to as the "Company" or "the Company") was formerly known as Jiangmen Powder Metallurgy Factory (hereinafter referred to as the "Jiang Powder Factory"). It was established in 1975 and is an enterprise owned by the whole people. In 1994, in accordance with the spirit of the Jiangmen Municipal Government's "Opinions on Accelerating the Development of the Mixed Economy Innovative Enterprise System" [Jiangfa (1993) No. 55] and the Jiangmen Municipal Institutional Reform Office's "Reply on the Pilot Measures for the "Transformation" of Jiangmen Powder Metallurgy Plant [Jianggai (1994) No. 12] and other documents, Jiangmen Powder Factory was restructured into Jiangmen Powder Metallurgy Factory Co., Ltd. through employees' collective investment based on the asset appraisal value to redeem the property rights of Jiangmen Powder Metallurgy Factory. The company was listed on the Shenzhen Stock Exchange on July 15, 2011, and currently holds a business license with a unified social credit code of 91440700193957385W. In January 2018, the company purchased 100% of the shares of Lingyi Technology (Shenzhen) Co., Ltd. through the issuance of shares. After the completion of the transaction, the actual controller of the company became Ms. Zeng Fangqin. The company was listed on the Hong Kong Stock Exchange on June 26, 2026, with the code 01688.HK. After years of issuing bonus shares, placing new shares, converting capital, issuing new shares and converting convertible corporate bonds, as of June 30, 2026, the company has issued a total of 8,120,010,560 shares.

Registered address: No. 8, Longwan Road, Jiangmen City, Headquarters address: No. 8, Longwan Road, Jiangmen City.

(2) The company’s business nature and main operating activities

The industries our company operates in: consumer electronics, automotive industry, other industries, etc.

Business scope: Manufacturing and sales: export of magnetic material components and their products, alloy powder products, micromotors, mechanical equipment and parts and related technologies; export of raw and auxiliary materials, mechanical equipment, instruments, spare parts and other commodities required for scientific research and related technologies; undertaking Sino-foreign joint ventures, cooperative production and developing the "three-to-one" industry Business (operated in accordance with Guangdong Economic and Trade Jinzi [94] No. 196); movable and real estate leasing; plastic and electronic precision component manufacturing technology research and development; production, processing and sales of: hardware products, plastic products, plastic electronic products, molds; import and export of goods or technology (except for the import and export of goods and technology prohibited by the state or involving administrative approval). (Projects that require approval according to law can only carry out business activities after approval from relevant departments).

The company's main products: AI hardware, automobiles and low-altitude economy, etc.

(3) Scope of consolidated statements

The scope of the company's consolidated financial statements is determined based on control and includes the financial statements of the company and all its subsidiaries. Subsidiaries refer to enterprises or entities controlled by the company.

For details on the scope of the consolidated financial statements during the reporting period and its changes, please refer to "IX. Changes in the scope of consolidation" and "10. Equity in other entities" of this note.

(4) Approval and issuance of financial statements

This financial statement has been approved by the company's board of directors on August 28, 2026.

4. Basis for preparation of financial statements

1. Basics of preparation

The Company conducts recognition and measurement based on actual transactions and events in accordance with the "Accounting Standards for Business Enterprises - Basic Standards" promulgated by the Ministry of Finance and specific accounting standards for enterprises, application guidelines for accounting standards for enterprises, interpretations of accounting standards for enterprises and other relevant regulations (hereinafter collectively referred to as "Accounting Standards for Business Enterprises"). On this basis, the company prepares financial statements in conjunction with the provisions of the China Securities Regulatory Commission's "Information Disclosure and Preparation Rules for Companies that Offer Securities to the Public No. 15 - General Provisions for Financial Reports" (revised in 2023).

2. Continued operations

The Company evaluated its ability to continue operating in the 12 months from the end of the reporting period and found no matters or circumstances that cast any significant doubt on its ability to continue operating. Therefore, these financial statements have been prepared on the basis of going concern assumption.

5. Important accounting policies and accounting estimates

Specific accounting policies and accounting estimation tips:

The Company has formulated specific accounting policies and accounting estimates based on actual production and operation characteristics, which are mainly reflected in the impairment of financial instruments, inventory valuation methods, inventory depreciation provisions, revenue recognition and measurement, fixed asset depreciation, intangible asset amortization, investment real estate measurement and goodwill impairment, etc.

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1. Statement on compliance with corporate accounting standards

The financial statements prepared by the company comply with the requirements of accounting standards for enterprises and truly and completely reflect the company's financial status, operating results, changes in owner's equity, cash flow and other relevant information during the reporting period.

2. Accounting period

A fiscal year runs from January 1 to December 31 of the Gregorian calendar.

3. Business cycle

There is a business cycle from January 1st to December 31st in the Gregorian calendar.

4. Accounting standard currency

The Company adopts RMB as the standard accounting currency.

Overseas subsidiaries use the currency of the main economic environment in which they operate as their reporting currency and convert them into RMB when preparing financial statements.

5. Determination method and selection basis of importance standards

Applicable □Not applicable

Project Materiality Criteria

The book value of the long-term equity investment of a single invested unit accounts for more than 5% of the net assets and the investment amount exceeds an important joint venture or associated enterprise

RMB 50 million

Important capitalized R&D projects: The capitalized balance of a single capitalized R&D project exceeds RMB 50 million

Important projects under construction. The total investment in a single project exceeds 0.3% of total assets and the ending balance exceeds RMB 50 million. Important individual receivables for bad debt provision. The individual accrual amount exceeds 0.3% of total assets.

Recovery or reversal of important bad debt provisions for receivables The amount of a single recovery or reversal exceeds 0.3% of total assets

Actual write-off of important accounts receivable The amount of a single write-off exceeds 0.3% of total assets

Important dividends receivable aged more than 1 year, the individual amount exceeds 0.3% of total assets

Important other payables aged more than 1 year. The individual amount exceeds 0.3% of total assets.

Important accounts payable aged more than 1 year, the individual amount exceeds 0.3% of total assets

Important contract liabilities aged more than 1 year, the individual amount exceeds 0.3% of total assets

Important subsidiaries: Total assets/total revenue/total profits exceed 15% of the group's total assets/total revenue/total profits. Important contingencies that exist on the balance sheet date. The individual amount exceeds 0.3% of the total assets.

6. Accounting treatment methods for business combinations under the same control and those not under the same control

(1) If the terms, conditions and economic impact of each transaction in the step-by-step enterprise merger process meet one or more of the following conditions, multiple transactions will be accounted for as a package transaction.

(1) These transactions are entered into at the same time or with consideration of mutual effects;

(2) These transactions as a whole can achieve a complete business result;

(3) The occurrence of one transaction depends on the occurrence of at least one other transaction;

(4) A transaction is uneconomical when viewed alone, but is economical when considered together with other transactions.

(2) Merger of enterprises under common control

The enterprises participating in the merger are ultimately controlled by the same party or the same parties before and after the merger, and the control is not temporary. It is a business merger under the same control.

The assets and liabilities acquired by the Company in a business merger are measured based on the book value of the assets and liabilities of the merged party on the date of merger (including the goodwill formed by the ultimate controlling party's acquisition of the merged party) in the consolidated financial statements of the ultimate controlling party. The difference between the book value of the net assets acquired in the merger and the book value of the merger consideration paid (or the total face value of the shares issued) is adjusted to the equity premium in the capital reserve. If the equity premium in the capital reserve is insufficient to offset it, the retained earnings are adjusted.

If there is a contingent consideration and it is necessary to recognize estimated liabilities or assets, the difference between the amount of the estimated liabilities or assets and the subsequent settlement amount of the contingent consideration will be adjusted to the capital reserve (capital premium or equity premium). If the capital reserve is insufficient, the retained earnings will be adjusted.

For enterprise mergers that are finally realized through multiple transactions, if it is a package transaction, each transaction will be accounted for as a transaction that obtains control; if it is not a package transaction, on the date when control is obtained, the difference between the initial investment cost of the long-term equity investment and the sum of the book value of the long-term equity investment before the merger plus the book value of the new consideration for further acquisition of shares on the merger date will be adjusted to the capital reserve; if the capital reserve is insufficient for offset, the retained earnings will be adjusted. For equity investments held before the merger date, other comprehensive income recognized due to accounting using the equity method or financial instrument recognition and measurement standards will not be subject to accounting treatment for the time being.

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Until the investment is disposed of, accounting treatment will be carried out on the same basis as the investee's direct disposal of relevant assets or liabilities; other changes in the owner's equity other than net profits and losses, other comprehensive income and profit distribution in the net assets of the investee recognized due to the use of equity method accounting will not be subject to accounting treatment until the investment is disposed and transferred to the current profit and loss.

(3) Business merger not under common control

The enterprises participating in the merger are not ultimately controlled by the same party or the same parties before and after the merger, and it is a business merger not under the same control.

The assets paid and liabilities incurred or assumed by the company as consideration for the business combination are measured at fair value on the purchase date, and the difference between the fair value and its book value is included in the current profit and loss.

The Company recognizes the difference between the merger cost and the fair value share of the acquiree's identifiable net assets acquired in the merger as goodwill; if the merger cost is less than the fair value share of the acquiree's identifiable net assets acquired in the merger, the company first reviews the fair value of the acquiree's identifiable assets, liabilities and contingent liabilities and the measurement of the merger cost. If the merger cost is still less than the fair value share of the acquiree's identifiable net assets acquired in the merger after the review, it is included in the current profit and loss.

If the merger of enterprises not under the same control is realized step by step through multiple exchange transactions, and it is a package transaction, each transaction will be accounted for as a transaction to obtain control; if it is not a package transaction, the equity investment held before the merger date is accounted for using the equity method, and the equity of the purchased party held before the purchase date is accounted for. The sum of the book value of the investment and the new investment cost on the date of purchase shall be regarded as the initial investment cost of the investment; other comprehensive income recognized due to the equity method accounting for equity investments held before the date of purchase shall be accounted for on the same basis as when the invested unit directly disposes relevant assets or liabilities when disposing of the investment. If the equity investment held before the merger date is accounted for using the financial instrument recognition and measurement standards, the sum of the fair value of the equity investment on the merger date plus the new investment cost shall be the initial investment cost on the merger date. The difference between the fair value and book value of the original equity holdings and the cumulative fair value changes originally included in other comprehensive income should all be transferred to the investment income of the current period on the merger date.

(4) Relevant expenses incurred for the merger

Intermediary fees such as auditing, legal services, evaluation consulting, and other directly related expenses incurred for a business merger shall be included in the current profits and losses when incurred; transaction costs for the issuance of equity securities for a business merger may be deducted from equity if they are directly attributable to equity transactions.

7. Judgment standards for control and preparation methods of consolidated financial statements

(1) Judgment criteria for control

Control means that the investor has power over the investee, enjoys variable returns by participating in the investee's relevant activities, and has the ability to use its power over the investee to affect the amount of its returns.

The Company makes a judgment on whether to control the investee based on comprehensive consideration of all relevant facts and circumstances. Once changes in relevant facts and circumstances lead to changes in the relevant elements involved in the definition of control, the company will reassess. Relevant facts and circumstances mainly include:

(1) The establishment purpose of the investee.

(2) Related activities of the investee and how to make decisions on related activities.

(3) Whether the rights enjoyed by the investor currently enable it to dominate the relevant activities of the investee.

(4) Whether the investor enjoys variable returns by participating in the relevant activities of the investee.

(5) Whether the investor has the ability to use its power over the investee to affect its return amount.

(6) Relationship between investors and other parties.

(2) Scope of consolidation

The scope of the company's consolidated financial statements is determined on the basis of control, and all subsidiaries (including separate entities controlled by the company) are included in the consolidated financial statements.

(3) Merger procedures

The company prepares consolidated financial statements based on its own and its subsidiaries' financial statements and other relevant information. The company prepares consolidated financial statements, treating the entire enterprise group as an accounting entity, and reflecting the overall financial status, operating results and cash flow of the enterprise group in accordance with the recognition, measurement and presentation requirements of relevant accounting standards for enterprises and in accordance with unified accounting policies.

The accounting policies and accounting periods adopted by all subsidiaries included in the scope of the consolidated financial statements are consistent with the Company's. If the accounting policies and accounting periods adopted by the subsidiaries are inconsistent with the Company's, necessary adjustments shall be made in accordance with the Company's accounting policies and accounting periods when preparing consolidated financial statements.

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When consolidating financial statements, the impact of internal transactions between the company and its subsidiaries and between subsidiaries on the consolidated balance sheet, consolidated income statement, consolidated cash flow statement, and consolidated statement of changes in shareholders' equity are eliminated. If the identification of the same transaction is different from the perspective of the consolidated financial statements of the enterprise group and the accounting entity of the company or subsidiary, the transaction will be adjusted from the perspective of the enterprise group.

The owner's equity of subsidiaries, current net profit and loss and current comprehensive income belonging to minority shareholders are presented separately under the owner's equity item in the consolidated balance sheet, the net profit item and the total comprehensive income item in the consolidated income statement. If the current losses shared by the minority shareholders of a subsidiary exceed the minority shareholders' share of the opening owner's equity of the subsidiary, the balance is offset against the minority shareholders' equity.

For a subsidiary acquired through a business combination under common control, its financial statements will be adjusted based on the book value of its assets and liabilities (including the goodwill formed by the ultimate controller's acquisition of the subsidiary) in the financial statements of the ultimate controller.

For subsidiaries acquired through business combinations not under common control, their financial statements will be adjusted based on the fair value of the identifiable net assets on the date of acquisition.

(1) Add subsidiaries or businesses

During the reporting period, if a subsidiary or business is added due to a business merger under the same control, the opening balance of the consolidated balance sheet will be adjusted; the income, expenses, and profits from the beginning of the current period to the end of the reporting period of the subsidiary or business combination will be included in the consolidated income statement; the cash flow from the beginning of the current period to the end of the reporting period of the subsidiary or business combination will be included in the consolidated cash flow statement, and relevant items in the comparative statement will be adjusted at the same time. The post-merger reporting entity will be deemed to have existed from the time when the ultimate controlling party began to control.

If it is possible to exercise control over an investee under the same control due to additional investment or other reasons, the parties involved in the merger will be deemed to have existed in their current state when the final controlling party began to control and adjustments will be made. For equity investments held before acquiring control of the merged party, relevant profits and losses, other comprehensive income and changes in other net assets have been recognized between the date of acquisition of the original equity and the date when the merging party and the merged party are under the same control, whichever is later, to the date of merger, and shall be offset against the opening retained earnings or current profits and losses during the comparative statement period respectively.

During the reporting period, if a subsidiary or business is added due to a business combination not under common control, the opening balance of the consolidated balance sheet will not be adjusted; the income, expenses, and profits of the subsidiary or business from the date of acquisition to the end of the reporting period will be included in the consolidated income statement; the cash flow of the subsidiary or business from the date of acquisition to the end of the reporting period will be included in the consolidated cash flow statement.

If it is able to exercise control over an investee that is not under the same control due to additional investment or other reasons, the Company will remeasure the equity of the purchased party held before the acquisition date based on the fair value of the equity on the acquisition date, and the difference between the fair value and its book value will be included in the investment income of the current period. If the equity of the purchased party held before the purchase date involves other comprehensive income under equity method accounting and other changes in owner's equity other than net profit and loss, other comprehensive income and profit distribution, the related other comprehensive income and changes in other owner's equity will be converted into investment income for the current period on the purchase date, except for other comprehensive income arising from the investee's remeasurement of the net liabilities or changes in net assets of the defined benefit plan.

(2) Disposal of subsidiaries or businesses

1. General processing methods

During the reporting period, if the company disposes of a subsidiary or business, the income, expenses and profits of the subsidiary or business from the beginning of the period to the date of disposal will be included in the consolidated income statement; the cash flow of the subsidiary or business from the beginning of the period to the date of disposal will be included in the consolidated cash flow statement.

When the company loses control over the investee due to the disposal of part of the equity investment or other reasons, the company will remeasure the remaining equity investment after the disposal according to its fair value on the date of loss of control. The difference between the sum of the consideration obtained for disposing of the equity and the fair value of the remaining equity, minus the sum of the share of the original subsidiary's net assets calculated continuously from the date of purchase or merger based on the original shareholding ratio and the sum of goodwill, shall be included in the investment income in the period when control is lost. Other comprehensive income related to the equity investment in the original subsidiary or other changes in owner's equity other than net profit and loss, other comprehensive income and profit distribution will be converted into investment income for the current period when control is lost, except for other comprehensive income arising from the investee's remeasurement of the net liabilities or changes in net assets of the defined benefit plan.

2. Dispose of subsidiaries step by step

If the equity investment in a subsidiary is disposed of step by step through multiple transactions until the control is lost, the terms, conditions and economic impact of each transaction to dispose of the equity investment in the subsidiary meet one or more of the following circumstances, which usually indicates that multiple transactions should be accounted for as a package deal:

A. These transactions were entered into at the same time or with consideration of mutual effects;

B. These transactions as a whole can achieve a complete business result;

C. The occurrence of one transaction depends on the occurrence of at least one other transaction;

D. A transaction that is uneconomical on its own is economical when considered together with other transactions.

If the various transactions involving the disposal of equity investments in subsidiaries until the loss of control belong to a package transaction, the Company will account for each transaction as a transaction in which the subsidiary is disposed of and the control is lost; however, the difference between the price of each disposal and the share of the net assets of the subsidiary corresponding to the disposal investment before the loss of control is recognized as other comprehensive income in the consolidated financial statements, and is transferred to the profit and loss of the current period when control is lost.

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If the various transactions involving the disposal of equity investments in subsidiaries until the loss of control do not belong to a package deal, before the loss of control, accounting treatment will be carried out according to the relevant policies for partial disposal of equity investments in subsidiaries without losing control; when control is lost, accounting treatment will be carried out according to the general treatment method for disposal of subsidiaries.

3. Purchase minority shares in subsidiaries

The difference between the company's newly acquired long-term equity investment due to the purchase of minority shares and the share of the subsidiary's net assets calculated continuously from the purchase date (or merger date) calculated based on the new shareholding ratio, shall be adjusted to the equity premium in the capital reserve in the consolidated balance sheet. If the equity premium in the capital reserve is insufficient to offset, the retained earnings shall be adjusted.

4. Partially dispose of equity investments in subsidiaries without losing control

Without losing control, the difference between the disposal price obtained from the partial disposal of the long-term equity investment in the subsidiary and the share of the subsidiary's net assets calculated continuously from the date of purchase or merger corresponding to the disposal of the long-term equity investment shall be adjusted to the equity premium in the capital reserve in the consolidated balance sheet. If the equity premium in the capital reserve is insufficient to offset, the retained earnings shall be adjusted.

8. Classification of joint arrangements and accounting treatment methods for joint operations

(1) Classification of joint arrangements

The Company classifies joint arrangements into joint operations and joint ventures based on factors such as the structure and legal form of the joint arrangement, the terms agreed in the joint arrangement, and other relevant facts and circumstances. A joint operation refers to a joint arrangement in which the joint venture party enjoys the relevant assets of the arrangement and assumes the relevant liabilities of the arrangement. A joint venture is a joint arrangement in which the parties only have rights to the net assets of the arrangement.

(2) Accounting treatment method for joint operations

The company recognizes the following items related to the company in the interest share in joint operations, and performs accounting treatments in accordance with the relevant accounting standards for enterprises: (1) Recognize individually held assets, and recognize jointly held assets based on their shares;

(2) Recognize the liabilities borne individually and recognize the liabilities borne jointly according to their shares;

(3) Recognize the income generated from the sale of its share of joint operating output;

(4) Recognize the income generated by the joint operation from the sale of output according to its share;

(5) Recognize the expenses incurred individually, and recognize the expenses incurred by joint operations according to their share;

The company invests or sells assets, etc. to a joint operation (except where the assets constitute a business). Before the assets, etc. are sold by the joint operation to a third party, only the portion of the profits and losses arising from the transaction that are attributable to the other participants in the joint operation is recognized. If an asset impairment loss occurs on an investment or sale of an asset, the Company shall recognize the loss in full.

The Company purchases assets, etc. from a joint operation (except where the assets constitute a business), and before selling the assets, etc. to a third party, only recognizes the portion of the profits and losses arising from the transaction that are attributable to other participants in the joint operation. If an asset impairment loss occurs on a purchased asset, the Company shall recognize this part of the loss based on its share.

9. Determination standards for cash and cash equivalents

When preparing the cash flow statement, the company's cash on hand and deposits that can be used for payment at any time are recognized as cash. Investments that meet the four conditions of short term (generally due within three months from the date of purchase), strong liquidity, easy conversion into known amounts of cash, and small risk of value changes are determined as cash equivalents.

10. Foreign currency business and foreign currency statement conversion

(1) Foreign currency business

When foreign currency business transactions are initially recognized, the spot exchange rate on the date of transaction is used as the conversion rate and is converted into RMB for accounting.

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On the balance sheet date, foreign currency monetary items are translated at the spot exchange rate on the balance sheet date. The resulting exchange differences, except for the exchange differences arising from special foreign currency borrowings related to the acquisition and construction of assets that meet capitalization conditions, are treated in accordance with the principle of capitalization of borrowing costs, and are included in the current profit and loss. Foreign currency non-monetary items measured at historical cost are still converted using the spot exchange rate on the date of transaction, and their recording currency amount does not change.

Foreign currency non-monetary items measured at fair value are converted using the spot exchange rate on the date when the fair value is determined. The difference between the converted accounting functional currency amount and the original accounting functional currency amount is treated as a change in fair value (including exchange rate changes), and is included in the current profit and loss or recognized as other comprehensive income.

(2) Conversion of foreign currency financial statements

Assets and liability items in the balance sheet are translated using the spot exchange rate on the balance sheet date; owners' equity items, except for "undistributed profits" items, are translated using the spot exchange rate at the time of occurrence. Income and expense items in the income statement are translated using the spot exchange rate on the date of transaction. The translation difference of foreign currency financial statements resulting from the above translation is included in other comprehensive income.

When an overseas operation is disposed of, the foreign currency financial statement translation differences listed in other comprehensive income items in the balance sheet and related to the overseas operation will be transferred from the other comprehensive income items to the current profit and loss of the disposal; when the proportion of equity held in the overseas operation is reduced due to the disposal of part of the equity investment or other reasons but the control of the overseas operation is not lost, the foreign currency statement translation difference related to the disposal part of the overseas operation will be attributed to the minority shareholders' equity and will not be transferred to the current profit and loss. When disposing of part of the equity of an overseas operation that is an associate or joint venture, the translation difference of foreign currency statements related to the overseas operation shall be transferred to the current profit and loss of the disposal in proportion to the disposal of the overseas operation.

11. Financial instruments

The Company recognizes a financial asset or financial liability when it becomes a party to a financial instrument contract.

The effective interest rate method refers to the method of calculating the amortized cost of financial assets or financial liabilities and allocating interest income or interest expenses into each accounting period. The actual interest rate refers to the interest rate used to discount the estimated future cash flows of a financial asset or financial liability during the expected duration of the financial asset or the amortized cost of the financial liability. When determining the actual interest rate, the expected cash flow is estimated based on taking into account all contractual terms of the financial asset or financial liability (such as early repayment, extension, call options or other similar options, etc.), but does not take into account expected credit losses.

The amortized cost of a financial asset or financial liability is the initial recognition amount of the financial asset or financial liability minus the repaid principal, plus or minus the cumulative amortization amount formed by amortizing the difference between the initial recognition amount and the maturity amount using the effective interest method, and then deducting the accumulated loss provisions (only applicable to financial assets).

(1) Classification, recognition and measurement of financial assets

The Company divides financial assets into the following three categories based on the business model of the financial assets under management and the contractual cash flow characteristics of the financial assets:

(1) Financial assets measured at amortized cost.

(2) Financial assets measured at fair value with changes included in other comprehensive income.

(3) Financial assets measured at fair value with changes included in current profits and losses.

Financial assets are measured at fair value upon initial recognition. However, if accounts receivable or notes receivable arising from the sale of goods or provision of services do not contain a significant financing component or do not consider the financing component that does not exceed one year, they will be initially measured based on the transaction price.

For financial assets measured at fair value and whose changes are included in the current profit and loss, the relevant transaction costs are directly included in the current profit and loss, and the relevant transaction costs of other types of financial assets are included in their initial recognition amount.

The subsequent measurement of financial assets depends on their classification. If and only if the company changes the business model of managing financial assets, all affected related financial assets will be reclassified.

(1) Financial assets classified as measured at amortized cost

If the contractual terms of a financial asset stipulate that the cash flow generated on a specific date is only the payment of principal and interest based on the outstanding principal amount, and the business model for managing the financial asset is to collect contractual cash flow as the goal, then the company will classify the financial asset as a financial asset measured at amortized cost. Financial assets classified by the Company as measured at amortized cost include monetary funds, notes receivable, accounts receivable, other receivables, etc.

The Company uses the actual interest rate method to recognize interest income on such financial assets, and conducts subsequent measurement at amortized cost. Gains or losses arising from impairment or derecognition or modification are included in the current profit and loss. Except for the following circumstances, the Company calculates and determines interest income based on the book balance of financial assets multiplied by the actual interest rate: 1) For purchased or originated financial assets that have suffered credit impairment, the Company determines its interest income based on the amortized cost of the financial asset and the credit-adjusted actual interest rate from the initial recognition.

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2. For purchased or originated financial assets that have not been credit-impaired but become credit-impaired in subsequent periods, the Company will calculate and determine its interest income based on the amortized cost and actual interest rate of the financial assets in subsequent periods. If the financial instrument no longer has credit impairment due to its credit risk improvement in the subsequent period, the company will calculate and determine interest income by multiplying the actual interest rate by the book balance of the financial asset.

(2) Financial assets classified as measured at fair value and changes included in other comprehensive income

If the contractual terms of a financial asset stipulate that the cash flows generated on a specific date are only the payment of principal and interest based on the outstanding principal amount, and the business model for managing the financial asset aims at both collecting contractual cash flows and selling the financial asset, then the Company classifies the financial asset as a financial asset measured at fair value with changes included in other comprehensive income.

The Company uses the effective interest rate method to recognize interest income on such financial assets. Except for interest income, impairment losses and exchange differences, which are recognized as current profits and losses, other changes in fair value are included in other comprehensive income. When the financial asset is derecognised, the accumulated gains or losses previously included in other comprehensive income are transferred out of other comprehensive income and included in the current profit and loss.

Notes receivable and accounts receivable measured at fair value with changes included in other comprehensive income are presented as receivable financing, and other such financial assets are presented as other debt investments. Among them: other debt investments due within one year from the balance sheet date are presented as non-current assets due within one year, and other debt investments with original maturity dates within one year are presented as other current assets.

(3) Financial assets designated as measured at fair value and changes included in other comprehensive income

At the time of initial recognition, the Company may irrevocably designate non-trading equity instrument investments as financial assets measured at fair value with changes included in other comprehensive income on a single financial asset basis.

Changes in the fair value of such financial assets are included in other comprehensive income, and no impairment provisions are required. When the financial asset is derecognised, the accumulated gains or losses previously included in other comprehensive income are transferred out of other comprehensive income and included in retained earnings. During the period when the company holds the equity instrument investment, when the company's right to receive dividends has been established, the economic benefits related to the dividends are likely to flow into the company, and the amount of dividends can be reliably measured, dividend income is recognized and included in the current profit and loss. The Company reports such financial assets under other equity instrument investment items.

If an equity instrument investment meets one of the following conditions, it is a financial asset measured at fair value and its changes are included in the current profit and loss: the purpose of acquiring the financial asset is mainly for the recent sale; when initially recognized, it is part of a portfolio of identifiable financial assets that are centrally managed, and there is objective evidence that there is an actual short-term profit model in the near future; it is a derivative instrument (except for derivatives that meet the definition of a financial guarantee contract and are designated as effective hedging instruments).

(4) Financial assets classified as measured at fair value and changes included in current profits and losses

Financial assets that do not meet the conditions for classification as financial assets measured at amortized cost or at fair value through other comprehensive income, and are not designated as measured at fair value through other comprehensive income, are classified as financial assets at fair value through profit or loss for the current period.

The Company uses fair value for subsequent measurement of such financial assets, and includes gains or losses arising from changes in fair value as well as dividends and interest income related to such financial assets into current profits and losses.

The Company presents such financial assets in trading financial assets and other non-current financial assets based on their liquidity.

(5) Financial assets designated as measured at fair value and changes included in current profits and losses

At the time of initial recognition, in order to eliminate or significantly reduce accounting mismatches, the company can irrevocably designate financial assets as financial assets measured at fair value and whose changes are included in current profits and losses on a single financial asset basis.

If a hybrid contract contains one or more embedded derivatives, and its main contract does not belong to the above financial assets, the company may designate the entire contract as a financial instrument measured at fair value with changes included in current profits and losses. Except for the following circumstances:

1. Embedded derivatives will not significantly change the cash flows of hybrid contracts.

2. When initially determining whether a similar hybrid contract needs to be unbundled, little analysis is needed to make it clear that the embedded derivatives it contains should not be unbundled. For example, if a prepayment right is embedded in a loan, allowing the holder to repay the loan early at an amount close to the amortized cost, the prepayment right does not need to be split.

The Company uses fair value for subsequent measurement of such financial assets, and includes gains or losses arising from changes in fair value as well as dividends and interest income related to such financial assets into current profits and losses.

The Company presents such financial assets in trading financial assets and other non-current financial assets based on their liquidity.

(2) Classification, recognition and measurement of financial liabilities

The company classifies the financial instrument or its components as financial liabilities or equity instruments upon initial recognition based on the contractual terms of the financial instruments issued and the economic substance reflected rather than just the legal form, combined with the definitions of financial liabilities and equity instruments. Financial liabilities are classified upon initial recognition as: financial liabilities at fair value through profit or loss, other financial liabilities, and derivatives designated as effective hedging instruments.

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Financial liabilities are measured at fair value upon initial recognition. For financial liabilities measured at fair value and whose changes are included in the current profit and loss, the relevant transaction costs are directly included in the current profit and loss; for other types of financial liabilities, the relevant transaction costs are included in the initial recognition amount.

The subsequent measurement of financial liabilities depends on their classification:

(1) Financial liabilities measured at fair value and changes included in current profits and losses

Such financial liabilities include trading financial liabilities (including derivatives that are financial liabilities) and financial liabilities designated as measured at fair value with changes included in current profits and losses upon initial recognition.

Financial liabilities that meet one of the following conditions are classified as trading financial liabilities: the purpose of assuming relevant financial liabilities is mainly to sell or repurchase in the near future; they are part of a portfolio of identifiable financial instruments that are centrally managed, and there is objective evidence that the enterprise has recently adopted a short-term profit-making model; they are derivatives, except for derivatives that are designated and are effective hedging instruments and derivatives that comply with financial guarantee contracts. Trading financial liabilities (including derivatives belonging to financial liabilities) are subsequently measured at fair value. Except for those related to hedging accounting, all changes in fair value are included in the current profit and loss.

At the time of initial recognition, in order to provide more relevant accounting information, the Company irrevocably designates financial liabilities that meet one of the following conditions as financial liabilities measured at fair value and whose changes are included in current profits and losses:

1. Ability to eliminate or significantly reduce accounting mismatches.

2. According to the enterprise risk management or investment strategies stated in formal written documents, manage and perform performance evaluation of financial liability portfolios or financial assets and financial liability portfolios based on fair value, and report to key management personnel on this basis within the enterprise.

The company uses fair value for subsequent measurement of such financial liabilities. Except for changes in fair value caused by changes in the company's own credit risk, which are included in other comprehensive income, other changes in fair value are included in current profits and losses. Unless the changes in fair value caused by changes in the company's own credit risk are included in other comprehensive income, which will cause or expand the accounting mismatch in profit and loss, the company will include all changes in fair value (including the amount affected by changes in its own credit risk) into profit and loss for the current period. (2) Other financial liabilities

In addition to the following items, the company classifies financial liabilities as financial liabilities measured at amortized cost. The actual interest rate method is used for such financial liabilities and subsequent measurement is carried out at amortized cost. Gains or losses arising from derecognition or amortization are included in the current profit and loss:

1. Financial liabilities measured at fair value with changes included in current profits and losses.

2. The transfer of financial assets does not meet the conditions for derecognition or the financial liabilities formed by continuing to be involved in the transferred financial assets.

3. Financial guarantee contracts that do not fall into the first two categories of this article, and loan commitments for loans at lower than market interest rates that do not fall into category 1) of this article. A financial guarantee contract refers to a contract that requires the issuer to pay a specific amount of compensation to the contract holder who has suffered a loss when a specific debtor is unable to repay the debt in accordance with the terms of the original or modified debt instrument when due. Financial guarantee contracts that are not designated as financial liabilities at fair value through profit or loss shall, after initial recognition, be measured according to the higher of the loss reserve amount and the initial recognition amount less accumulated amortization during the guarantee period, whichever is higher.

(3) Derecognition of financial assets and financial liabilities

(1) If a financial asset meets one of the following conditions, the financial asset will be derecognized, that is, it will be written off from its account and balance sheet:

1. The contractual right to receive cash flows from the financial asset terminates.

2. The financial asset has been transferred, and the transfer meets the requirements for derecognition of financial assets.

(2) Conditions for derecognition of financial liabilities

If the current obligation of a financial liability (or part thereof) has been discharged, the financial liability (or part thereof) shall be derecognised.

The Company signs an agreement with the lender to replace the original financial liability by assuming a new financial liability, and if the contract terms of the new financial liability are substantially different from the original financial liability, or if the contract terms of the original financial liability (or part thereof) are substantially modified, the original financial liability will be derecognized and a new financial liability will be recognized. The difference between the book value and the consideration paid (including non-cash assets transferred out or liabilities assumed) will be included in the current profit and loss.

If the company repurchases part of a financial liability, the overall book value of the financial liability will be allocated based on the proportion of the fair value of the continued recognition part and the derecognition part on the repurchase date to the overall fair value on the repurchase date. The difference between the book value allocated to the derecognized part and the consideration paid (including non-cash assets transferred out or liabilities assumed) shall be included in the current profit and loss.

(4) Recognition basis and measurement method of financial asset transfer

When the company transfers financial assets, it evaluates the degree of risks and rewards in retaining ownership of the financial assets, and handles the following situations respectively:

(1) If substantially all the risks and rewards of ownership of a financial asset are transferred, the financial asset will be derecognised, and the rights and obligations arising or retained in the transfer will be separately recognized as assets or liabilities.

(2) If almost all risks and rewards of ownership of the financial asset are retained, the financial asset will continue to be recognized.

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(3) If substantially all the risks and rewards of ownership of a financial asset are neither transferred nor retained (i.e. other situations other than (1) and (2) of this article), the following situations will be dealt with based on whether it retains control of the financial asset:

1. If control of the financial asset is not retained, the financial asset will be derecognised, and the rights and obligations arising or retained in the transfer will be separately recognized as assets or liabilities.

2. If control of the financial assets is retained, the relevant financial assets will continue to be recognized to the extent of its continued involvement in the transferred financial assets, and relevant liabilities will be recognized accordingly. The degree of continued involvement in the transferred financial assets refers to the extent to which the company bears the risks or rewards of changes in the value of the transferred financial assets.

When judging whether the transfer of financial assets meets the above conditions for derecognition of financial assets, the principle of substance over form is adopted. The company distinguishes the transfer of financial assets into overall transfer and partial transfer of financial assets.

(1) If the overall transfer of financial assets meets the conditions for derecognition, the difference between the following two amounts will be included in the current profit and loss:

1. The book value of the transferred financial assets on the date of derecognition.

2. The sum of the consideration received for the transfer of financial assets and the amount corresponding to the derecognition portion of the cumulative amount of changes in fair value that was originally directly included in other comprehensive income (the financial assets involved in the transfer are financial assets measured at fair value and their changes are included in other comprehensive income).

(2) If a financial asset is partially transferred and the transferred part as a whole meets the conditions for derecognition, the book value of the entire financial asset before the transfer will be apportioned between the derecognized part and the continued recognition part (in this case, the retained service assets shall be regarded as part of the continued recognition of the financial assets) according to their respective relative fair values on the date of transfer, and the difference between the following two amounts shall be included in the current profit and loss:

1. The book value of the derecognized part on the date of derecognition.

2. The sum of the consideration received for the derecognized part and the amount corresponding to the derecognized part of the cumulative amount of changes in fair value originally included in other comprehensive income (the financial assets involved in the transfer are financial assets measured at fair value and their changes are included in other comprehensive income).

If the transfer of financial assets does not meet the conditions for derecognition, the financial assets will continue to be recognized, and the consideration received will be recognized as a financial liability.

(5) Method for determining the fair value of financial assets and financial liabilities

For financial assets or financial liabilities that have an active market, their fair value is determined based on the quoted price in the active market, unless the financial asset has a sales restriction period on the asset itself. For financial assets with sales restrictions on the asset itself, it is determined based on the quoted price in the active market after deducting the amount of compensation required by market participants for assuming the risk of being unable to sell the financial asset on the open market within a specified period. Quotes in active markets include quotes for relevant assets or liabilities that are easily and regularly obtainable from exchanges, dealers, brokers, industry groups, pricing agencies or regulatory agencies, etc., and can represent actual and frequent market transactions on an arm's length basis. For financial assets initially acquired or derived or financial liabilities assumed, the market transaction price is used as the basis for determining their fair value.

For financial assets or financial liabilities for which there is no active market, valuation techniques are used to determine their fair value. When valuing, the Company adopts valuation techniques that are applicable under the current circumstances and supported by sufficient available data and other information, selects input values ​​that are consistent with the characteristics of the assets or liabilities considered by market participants in transactions of related assets or liabilities, and gives priority to the use of relevant observable input values ​​whenever possible. Unobservable input values ​​are used when relevant observable input values ​​cannot be obtained or are impracticable to obtain.

(6) Impairment of financial instruments

Based on expected credit losses, the Company performs impairment accounting and recognizes loss provisions for financial assets classified as measured at amortized cost, financial assets classified as measured at fair value with changes included in other comprehensive income, and financial guarantee contracts.

Expected credit losses refer to the weighted average of the credit losses of financial instruments with the risk of default as the weight. Credit loss refers to the difference between all contractual cash flows receivable under the contract and all cash flows expected to be received by the company, discounted at the original actual interest rate, that is, the present value of all cash shortfalls. Among them, credit-impaired financial assets purchased or originated by the company should be discounted according to the credit-adjusted actual interest rate of the financial assets.

For purchased or originated financial assets that have suffered credit impairment, only the cumulative change in expected credit losses during the entire duration since initial recognition will be recognized as loss provisions on the balance sheet date. On each balance sheet date, the change in expected credit losses during the entire duration is included in the current profit and loss as impairment losses or gains. Even if the expected credit losses during the entire duration determined on the balance sheet date are less than the amount of expected credit losses reflected in the estimated cash flows at initial recognition, favorable changes in expected credit losses will be recognized as impairment gains.

In addition to the above-mentioned simplified measurement methods and other financial assets that have incurred credit impairment when purchased or originated, the company evaluates on each balance sheet date whether the credit risk of relevant financial instruments has increased significantly since initial recognition, and measures its loss provisions, recognizes expected credit losses and changes according to the following circumstances:

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(1) If the credit risk of the financial instrument has not increased significantly since initial recognition and is in the first stage, its loss provision will be measured based on an amount equivalent to the expected credit losses of the financial instrument in the next 12 months, and interest income will be calculated based on the book balance and actual interest rate.

(2) If the credit risk of the financial instrument has increased significantly since initial recognition but has not yet suffered credit impairment and is in the second stage, its loss provision will be measured based on an amount equivalent to the expected credit losses during the entire duration of the financial instrument, and interest income will be calculated based on the book balance and actual interest rate.

(3) If the financial instrument has been credit-impaired since initial recognition and is in the third stage, the company will measure its loss provision based on an amount equivalent to the expected credit losses during the entire duration of the financial instrument, and calculate interest income based on the amortized cost and actual interest rate.

The amount of increase or reversal of credit loss provision for financial instruments is included in the current profit and loss as impairment loss or gain. Except for financial assets classified as at fair value through other comprehensive income, the allowance for credit losses is reduced by the carrying balance of the financial asset. For financial assets classified as measured at fair value with changes included in other comprehensive income, the Company recognizes its credit loss provisions in other comprehensive income without reducing the book value of the financial assets listed in the balance sheet.

The Company has measured loss provisions in the previous accounting period at an amount equivalent to the expected credit losses for the entire duration of the financial instrument. However, on the current balance sheet date, if the financial instrument no longer has a significant increase in credit risk since initial recognition, the Company will measure the loss provisions for the financial instrument at an amount equivalent to the expected credit losses within the next 12 months on the current balance sheet date. The resulting reversal amount of the loss provisions is included in the current profit and loss as impairment gain.

(1) Credit risk increases significantly

The Company uses the reasonable and evidence-based forward-looking information available to determine whether the credit risk of a financial instrument has increased significantly since initial recognition by comparing the risk of default of the financial instrument on the balance sheet date with the risk of default on the initial recognition date. For financial guarantee contracts, when the Company applies the provisions on impairment of financial instruments, the date when the Company becomes the party making the irrevocable commitment shall be the date of initial recognition.

The company will consider the following factors when assessing whether credit risk has increased significantly:

1. Whether the actual or expected operating results of the debtor have changed significantly;

2. Whether there have been significant adverse changes in the regulatory, economic or technological environment in which the debtor operates;

3. Whether the value of the collateral used as collateral for the debt or the quality of the guarantee or credit enhancement provided by a third party has changed significantly. These changes are expected to reduce the debtor's economic motivation to repay within the time limit specified in the contract or affect the probability of default;

4. Whether the debtor’s expected performance and repayment behavior have changed significantly;

5. Whether the company’s credit management methods for financial instruments have changed, etc.

On the balance sheet date, if the Company determines that a financial instrument has only low credit risk, the Company assumes that the credit risk of the financial instrument has not increased significantly since initial recognition. If the default risk of a financial instrument is low, the borrower has a strong ability to fulfill its contractual cash flow obligations in the short term, and even if there are adverse changes in the economic situation and operating environment in the longer term, it may not necessarily reduce the borrower's ability to fulfill its contractual cash flow obligations, then the financial instrument is considered to have lower credit risk.

(2) Financial assets that have suffered credit impairment

When one or more events that have an adverse impact on the expected future cash flows of a financial asset occur, the financial asset becomes a credit-impaired financial asset. Evidence that a financial asset has been credit-impaired includes the following observable information:

1. The issuer or debtor encounters major financial difficulties;

2. The debtor violates the contract, such as default or overdue payment of interest or principal;

3. The creditor grants concessions to the debtor that the debtor would not make under any other circumstances due to economic or contractual considerations related to the debtor's financial difficulties; 4) The debtor is likely to go bankrupt or undergo other financial reorganization;

4. Financial difficulties of the issuer or debtor cause the active market for the financial asset to disappear;

5. Purchase or originate a financial asset at a substantial discount that reflects the fact that a credit loss has occurred.

Credit impairment of financial assets may be caused by the combined effect of multiple events and may not be caused by an individually identifiable event.

(3) Determination of expected credit losses

The Company evaluates the expected credit losses of financial instruments individually and collectively. When evaluating expected credit losses, it considers reasonable and well-founded information about past events, current conditions, and forecasts of future economic conditions.

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The Company divides financial instruments into different combinations based on common credit risk characteristics. The common credit risk characteristics used by the company include: type of financial instrument, credit risk rating, aging portfolio, industry of the debtor, etc. For details on the individual evaluation standards and combined credit risk characteristics of relevant financial instruments, please refer to the accounting policies of relevant financial instruments.

The company determines the expected credit losses of relevant financial instruments according to the following methods:

1. For financial assets, credit loss is the present value of the difference between the contractual cash flow that the company should receive and the cash flow that is expected to be received;

2. For lease receivables, credit loss is the present value of the difference between the contractual cash flow that the company should receive and the cash flow that is expected to be received;

3. For financial guarantee contracts, credit losses are the present value of the difference between the company’s expected payment to the contract holder for credit losses incurred, minus the amount the company expects to collect from the contract holder, debtor or any other party;

4. For financial assets that have been credit-impaired on the balance sheet date but were not purchased or originated from credit-impairment, the credit loss is the difference between the book balance of the financial asset and the present value of the estimated future cash flows discounted at the original effective interest rate.

The Company's method of measuring expected credit losses of financial instruments reflects factors including: the unbiased probability weighted average amount determined by evaluating a series of possible outcomes; the time value of money; reasonable and well-founded information about past events, current conditions and forecasts of future economic conditions that can be obtained without unnecessary additional cost or effort on the balance sheet date.

(4) Write down financial assets

When the company no longer reasonably expects that the contractual cash flows of a financial asset can be fully or partially recovered, the book balance of the financial asset will be directly written down. Such a write-down constitutes the derecognition of the relevant financial asset.

(7) Offset of financial assets and financial liabilities

Financial assets and financial liabilities are presented separately in the balance sheet without offsetting each other. However, if the following conditions are met at the same time, the net amount after offsetting each other will be presented in the balance sheet:

(1) The company has the legal right to offset the confirmed amount, and such legal right is currently enforceable;

(2) The company plans to settle on a net basis, or to realize the financial assets and pay off the financial liabilities at the same time.

12. Notes receivable

Please refer to Note 11, (6) Impairment of financial instruments for details of the Company’s determination method and accounting treatment method of expected credit losses on notes receivable.

The Company separately determines the credit losses of notes receivable that have sufficient evidence to assess expected credit losses at a reasonable cost at the individual instrument level.

When there is insufficient evidence to assess expected credit losses at a reasonable cost at the individual instrument level, the Company refers to historical credit loss experience, combined with current conditions and judgments of future economic conditions, divides notes receivable into several portfolios based on credit risk characteristics, and calculates expected credit losses on a portfolio basis. The basis for determining the combination is as follows:

Combination name Basis for determining combination Provision method

The issuer has a high credit rating and has never had a bill default in history.

Risk-free bank undertakings refer to historical credit loss experience and combine the current situation with

The risk of loss is extremely low and the ability to fulfill its contractual cash flow obligations in the short term

The bill portfolio and expectations for future economic conditions are very strong in measuring bad debt provisions.

With reference to accounts receivable, the acceptor of commercial acceptance bills is expected to be an enterprise with higher credit risk based on aging and the entire duration.

Credit loss rate comparison table accrual

13. Accounts receivable

Please refer to Note 11, (6) Impairment of financial instruments for details of the Company’s determination method and accounting treatment method of expected credit losses on accounts receivable.

The Company separately determines the credit losses of accounts receivable that have sufficient evidence to assess expected credit losses at a reasonable cost at the individual instrument level.

When there is insufficient evidence to assess expected credit losses at a reasonable cost at the individual instrument level, the Company refers to historical credit loss experience, combined with current conditions and judgments of future economic conditions, divides receivables into several combinations based on credit risk characteristics, and calculates expected credit losses on a combination basis. The basis for determining the combination is as follows:

Combination name Basis for determining combination Provision method

Those included in the scope of consolidation refer to historical credit loss experience, combined with the current situation and

Related party combinations included in the scope of consolidation

Related party portfolio and expected measurement of future economic conditions, bad debt provisions

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Combination name Basis for determining combination Provision method

Based on past historical experience, the Company makes the best provision for receivables ratio by comparing the aging analysis combination with the expected credit loss rate throughout the duration.

Estimation, credit risk portfolio classification with reference to the aging of receivables. table accrual

14. Accounts receivable financing

Please refer to Note 11, (6) Impairment of financial instruments for details of the Company’s determination method and accounting treatment method of expected credit losses for receivables financing.

15. Other receivables

Determination method and accounting treatment method of expected credit losses of other receivables

Please refer to Note 11, (6) Impairment of financial instruments for details of the Company’s determination method and accounting treatment method of expected credit losses of other receivables.

The Company separately determines credit losses for receivables that have sufficient evidence to assess expected credit losses at a reasonable cost at the individual instrument level.

When there is insufficient evidence to assess expected credit losses at a reasonable cost at the individual instrument level, the Company refers to historical credit loss experience, combined with current conditions and judgments of future economic conditions, divides receivables into several combinations based on credit risk characteristics, and calculates expected credit losses on a combination basis. The basis for determining the combination is as follows:

Combination name Basis for determining combination Provision method

With reference to historical credit loss experience and current status, it is included in the scope of consolidation

The status of related party combinations included in the scope of consolidation and the expected measurement of future economic conditions. Bad related party combinations

Account preparation

The company makes the best estimate of the accrual ratio of receivables based on past historical experience and analyzes the combination of aging and expected credit loss rate throughout the duration.

The credit risk portfolio is classified based on the aging of accounts receivable. Comparison table accrual

16. Contract assets

Consideration that the Company has a right to receive for transferring goods or providing services to a customer (and that right is dependent on factors other than the passage of time) is shown as a contract asset.

Please refer to Note 11, (6) Impairment of financial instruments for details of the Company’s determination method and accounting treatment method of expected credit losses on contract assets.

Contract assets and contract liabilities are presented separately in the balance sheet. Please refer to Note 26, Contract Liabilities of this Note for details of the company’s recognition methods and standards for contract liabilities.

Contract assets and contract liabilities under the same contract are listed in a net amount. If the net amount is a debit balance, it is listed in the "contract assets" or "other non-current assets" item according to its liquidity; if the net amount is a credit balance, it is listed in the "contract liabilities" or "other non-current liabilities" item based on its liquidity. Contract assets and contract liabilities under different contracts cannot be offset against each other.

17. Inventory

(1) Classification of inventory

Inventories refer to the finished products or commodities held by the company for sale in daily activities, products in progress during the production process, materials and supplies consumed in the production process or the provision of labor services, etc. It mainly includes raw materials, products in progress, self-made semi-finished products, low-value consumables, commissioned processing materials, materials in transit and finished products, etc. (2) Valuation method of inventory

When inventories are acquired, they are initially measured at cost, including purchase costs, processing costs and other costs. Inventories are valued based on the weighted average method when shipped. (3) Basis for determining net realizable value of inventories and method of accruing inventory depreciation reserves

After conducting a comprehensive inventory of the inventory at the end of the period, the inventory depreciation reserve is withdrawn or adjusted based on the lower of the inventory cost and the net realizable value. For inventory of goods that are directly for sale, such as finished goods, inventory, and materials for sale, in the normal production and operation process, the net realizable value is determined by the estimated selling price of the inventory minus the estimated sales expenses and related taxes; for material inventories that need to be processed, in the normal production and operation process, the net realizable value is determined by the estimated selling price of the finished products minus the estimated costs to be incurred upon completion, the estimated sales expenses, and related taxes; for the execution of sales contracts or labor contracts

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For inventories held simultaneously, the net realizable value is calculated based on the contract price. If the quantity of inventory held is greater than the quantity ordered in the sales contract, the net realizable value of the excess inventory is calculated based on the general sales price.

At the end of the period, inventory depreciation provisions are made based on individual inventory items; however, for inventories with large quantities and low unit prices, inventory depreciation provisions are made based on inventory categories; inventory depreciation provisions are made on a consolidated basis for inventories that are related to product series produced and sold in the same region, have the same or similar end use or purpose, and are difficult to measure separately from other items.

If the factors that caused the previous write-down of the inventory value have disappeared, the amount of the write-down will be restored and reversed within the amount of the inventory depreciation provision that was originally accrued, and the reversed amount will be included in the current profit and loss.

(4) Inventory inventory system

The inventory inventory system is a perpetual inventory system.

(5) Amortization method for low-value consumables and packaging materials

1. Low-value consumables are amortized using the one-time write-off method;

2. Packaging materials are amortized using the one-time write-off method;

3. Other turnover materials are amortized using the one-time write-off method.

18. Long-term equity investment

(1) Determination of initial investment cost

1. For long-term equity investments formed by business mergers, please refer to Note 6 of this note for specific accounting policies. Accounting treatment methods for business mergers under the same control and those not under the same control.

2. Long-term equity investment obtained through other means

For long-term equity investments obtained by paying cash, the actual purchase price paid shall be regarded as the initial investment cost. Initial investment costs include fees, taxes and other necessary expenses directly related to obtaining long-term equity investment.

For long-term equity investments obtained by issuing equity securities, the initial investment cost shall be the fair value of the equity securities issued; transaction costs incurred when issuing or acquiring its own equity instruments can be deducted from equity if they are directly attributable to equity transactions.

Under the premise that the non-monetary asset exchange has commercial substance and the fair value of the assets exchanged or the assets exchanged can be reliably measured, the initial investment cost of the long-term equity investment exchanged in the non-monetary asset exchange shall be determined based on the fair value of the assets exchanged, unless there is conclusive evidence that the fair value of the assets exchanged is more reliable; for non-monetary asset exchanges that do not meet the above premise, the book value of the assets exchanged and the relevant taxes payable shall be used as the initial investment cost of the long-term equity investment exchanged.

For long-term equity investments obtained through debt restructuring, the book value is determined based on the fair value of the relinquished claims and taxes and other costs directly attributable to the asset, and the difference between the fair value of the relinquished claims and the book value is included in the current profit and loss.

(2) Subsequent measurement and profit and loss recognition

1. Cost method

The long-term equity investment that the company can control over the invested unit is accounted for using the cost method, and is priced according to the initial investment cost, and the cost of the long-term equity investment is adjusted by adding or withdrawing the investment.

In addition to the actual price paid when acquiring the investment or the cash dividends or profits included in the consideration that have been declared but not yet distributed, the company shall recognize the cash dividends or profits declared by the invested unit as investment income for the current period.

2. Equity method

The Company adopts the equity method to account for long-term equity investments in associates and joint ventures; for some of the equity investments in associates indirectly held through venture capital institutions, mutual funds, trust companies or similar entities including investment-linked insurance funds, they are measured at fair value and changes are included in profit and loss. If the initial investment cost of a long-term equity investment is greater than the fair value share of the investee's identifiable net assets at the time of investment, the initial investment cost of the long-term equity investment will not be adjusted; the difference between the initial investment cost and the fair value share of the investee's identifiable net assets at the time of investment shall be included in the current profit and loss. After the company obtains a long-term equity investment, it shall recognize investment income and other comprehensive income respectively according to its share of the net profit or loss and other comprehensive income realized by the investee, and at the same time adjust the book value of the long-term equity investment; and calculate the share of the company based on the profits or cash dividends declared by the investee.

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The book value of the long-term equity investment will be reduced accordingly; for other changes in the owner's equity of the invested unit other than net profit and loss, other comprehensive income and profit distribution, the book value of the long-term equity investment will be adjusted and included in the owner's equity.

When the company confirms its share of the investee's net profits and losses, it adjusts and confirms the investee's net profit based on the fair value of the investee's identifiable assets when the investment was obtained. Unrealized gains and losses from internal transactions between the Company and its associates and joint ventures are offset according to the proportion attributable to the Company, and investment gains and losses are recognized on this basis.

When the company confirms that it should share the losses incurred by the invested unit, it will proceed in the following order: first, offset the book value of the long-term equity investment. Secondly, if the book value of the long-term equity investment is not sufficient to offset it, investment losses will continue to be recognized to the extent of the book value of other long-term interests that essentially constitute a net investment in the investee, and the book value of long-term receivable items, etc. will be offset. Finally, after the above processing, if the enterprise still bears additional obligations according to the investment contract or agreement, estimated liabilities will be recognized based on the estimated obligations and included in the current investment losses.

If the invested unit realizes profits in the subsequent period, the company will proceed in the opposite order to the above after deducting the unrecognized loss sharing amount, write down the book balance of the recognized estimated liabilities, restore the book value of other long-term equities and long-term equity investments that essentially constitute a net investment in the invested unit, and then resume recognition of investment income.

(3) Conversion of long-term equity investment accounting methods

1. Fair value measurement converted to equity method accounting

The equity investment originally held by the Company that has no control, joint control or significant influence on the invested unit and is accounted for according to the financial instrument recognition and measurement standards, if it can exert significant influence or implement joint control on the invested unit due to additional investment or other reasons but does not constitute control, the sum of the fair value of the originally held equity investment plus the new investment cost determined in accordance with the "Accounting Standards for Business Enterprises No. 22 - Recognition and Measurement of Financial Instruments" shall be regarded as the initial investment cost that is calculated according to the equity method.

If the initial investment cost calculated according to the equity method is less than the difference between the fair value share of the investee's identifiable net assets on the date of the additional investment calculated based on the new shareholding ratio after the additional investment, the book value of the long-term equity investment will be adjusted and included in the non-operating income of the current period.

2. Fair value measurement or equity method accounting converted to cost method accounting

If the company originally held equity investments that had no control, joint control or significant influence over the investee and were accounted for in accordance with the financial instrument recognition and measurement standards, or originally held long-term equity investments in associates and joint ventures, and were able to exercise control over investees not under common control due to additional investments or other reasons, when preparing individual financial statements, the sum of the book value of the original equity investment plus the cost of the new investment will be used as the initial investment cost to be accounted for using the cost method.

Other comprehensive income recognized due to equity method accounting for equity investments held before the acquisition date will be accounted for on the same basis as the investee's direct disposal of relevant assets or liabilities when disposing of the investment.

If the equity investment held before the acquisition date is accounted for in accordance with the relevant provisions of "Accounting Standards for Business Enterprises No. 22 - Recognition and Measurement of Financial Instruments", the cumulative fair value changes originally included in other comprehensive income will be transferred to the current profit and loss when the cost method is used.

3. Conversion from equity method accounting to fair value measurement

If the company loses joint control or significant influence on the investee due to the disposal of part of its equity investment or other reasons, the remaining equity after disposal will be accounted for in accordance with the "Accounting Standards for Business Enterprises No. 22 - Recognition and Measurement of Financial Instruments", and the difference between its fair value and book value on the date of loss of joint control or significant influence shall be included in the current profit and loss.

Other comprehensive income recognized as a result of the original equity investment being accounted for using the equity method will be accounted for on the same basis as if the investee directly disposed of relevant assets or liabilities when the equity method is terminated.

4. Conversion from cost method to equity method

If the company loses control of the invested unit due to the disposal of part of its equity investments or other reasons, when preparing individual financial statements, if the remaining equity after disposal can jointly control or exert significant influence on the invested unit, it shall be accounted for according to the equity method instead, and the remaining equity shall be deemed to have been accounted for using the equity method since the time of acquisition and adjustments shall be made.

5. Conversion from cost method to fair value measurement

If the company loses control of the invested unit due to the disposal of part of its equity investments and other reasons, when preparing individual financial statements, if the remaining equity after disposal cannot jointly control or exert significant influence on the invested unit, the accounting treatment shall be carried out in accordance with the relevant provisions of "Accounting Standards for Business Enterprises No. 22 - Recognition and Measurement of Financial Instruments", and the difference between the fair value and the book value on the date of loss of control shall be included in the current profit and loss.

(4) Disposal of long-term equity investments

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When disposing of a long-term equity investment, the difference between its book value and the actual price obtained shall be included in the current profit and loss. When disposing of a long-term equity investment accounted for using the equity method, the same basis as the investee's direct disposal of relevant assets or liabilities will be used, and the portion originally included in other comprehensive income will be accounted for in a corresponding proportion.

If the terms, conditions and economic impact of various transactions related to the disposal of equity investments in subsidiaries meet one or more of the following circumstances, multiple transactions will be accounted for as a package deal:

1. These transactions were entered into at the same time or with consideration of mutual effects;

2. These transactions as a whole can achieve a complete business result;

3. The occurrence of a transaction depends on the occurrence of at least one other transaction;

4. A transaction is uneconomical on its own but is economical when considered together with other transactions.

If the control over the original subsidiary is lost due to the disposal of part of the equity investment or other reasons, and it does not belong to a package deal, the relevant accounting treatment shall be carried out separately between individual financial statements and consolidated financial statements:

1. In individual financial statements, for the equity disposed of, the difference between its book value and the actual price obtained is included in the current profit and loss. If the remaining equity after disposal can jointly control or exert significant influence on the invested unit, it shall be accounted for according to the equity method, and the remaining equity shall be deemed to have been accounted for by the equity method since the time of acquisition. If the remaining equity after disposal cannot jointly control or exert significant influence on the invested unit, it shall be accounted for in accordance with the relevant provisions of "Accounting Standards for Business Enterprises No. 22 - Recognition and Measurement of Financial Instruments", and the difference between its fair value and book value on the date of loss of control shall be included in the current profit and loss. 2) In the consolidated financial statements, for the transactions before the loss of control over the subsidiary, the difference between the disposal price and the long-term equity investment in the disposal of the subsidiary's share of net assets continuously calculated from the date of purchase or merger is adjusted to the capital reserve (equity premium). If the capital reserve is insufficient for offset, the retained earnings are adjusted; when the control of the subsidiary is lost, the remaining equity is remeasured according to its fair value on the date of loss of control. The difference between the sum of the consideration obtained for disposing of the equity and the fair value of the remaining equity, minus the share of the original subsidiary's net assets calculated continuously from the date of purchase based on the original shareholding ratio, shall be included in the investment income in the period when control is lost, and the goodwill shall be offset at the same time. Other comprehensive income related to the equity investment in the original subsidiary will be converted into current investment income when control is lost.

If the various transactions involving the disposal of the subsidiary's equity investment until the loss of control belong to a package transaction, each transaction will be accounted for as a transaction of disposal of the subsidiary's equity investment and loss of control, and the relevant accounting treatment will be distinguished between individual financial statements and consolidated financial statements:

1. In individual financial statements, the difference between the price of each disposal before the loss of control and the book value of the long-term equity investment corresponding to the equity disposed of is recognized as other comprehensive income, and is transferred to the profit and loss of the current period when control is lost;

2. In the consolidated financial statements, the difference between each disposal price and the share of the subsidiary's net assets corresponding to the disposal investment before the loss of control is recognized as other comprehensive income, and is transferred to the profit and loss of the current period when control is lost.

(5) Criteria for judging joint control and significant influence

If the Company collectively controls an arrangement with other participants in accordance with relevant agreements, and decisions on activities that have a significant impact on the returns of the arrangement require the unanimous consent of the participants sharing control rights, then the Company and other participants are deemed to jointly control an arrangement, and the arrangement is a joint arrangement. If a joint venture arrangement is reached through an independent entity, when it is determined based on the relevant agreement that the company has rights to the net assets of the independent entity, the independent entity will be treated as a joint venture and accounted for using the equity method. If it is judged based on the relevant agreement that the company does not have rights to the net assets of the separate entity, the separate entity will be treated as a joint operation, and the company will confirm the items related to the joint operation interest share and conduct accounting treatment in accordance with the relevant accounting standards for enterprises.

Significant influence means that the investor has the power to participate in decision-making on the financial and operating policies of the invested unit, but it is not able to control or jointly control the formulation of these policies with other parties. The company determines that it has a significant impact on the investee through one or more of the following situations and after comprehensive consideration of all facts and circumstances:

(1) Have representatives on the board of directors or similar authority of the investee;

(2) Participate in the financial and operating policy formulation process of the invested unit;

(3) Important transactions occur with the invested unit;

(4) Dispatch management personnel to the invested unit;

(5) Provide key technical information to invested units.

19. Investment real estate

Investment real estate measurement model

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Cost method measurement

Depreciation or amortization method

Investment real estate refers to real estate held for the purpose of earning rentals or capital appreciation, or both, including leased land use rights, land use rights held and prepared to be transferred after appreciation, and leased buildings. In addition, for vacant buildings held by the company for operating leasing, if the board of directors makes a written resolution clearly stating that the building will be used for operating leasing and the holding intention will not change in the short term, it will also be reported as investment real estate.

The Company's investment real estate is recorded at its cost. The cost of purchased investment real estate includes the purchase price, relevant taxes and other expenses directly attributable to the asset; the cost of self-constructed investment real estate consists of the necessary expenses incurred before the asset reaches its intended usable state. The Company adopts the cost model for subsequent measurement of investment real estate, and accrues depreciation or amortization for buildings and land use rights based on their estimated useful lives and net residual value rates. The estimated service life, net residual value rate and annual depreciation (amortization) rate of investment properties are listed as follows:

Category Estimated service life (years) Estimated net residual value rate (%) Annual depreciation (amortization) rate (%) Houses and buildings 20 - 50 5 - 10 1.80 - 4.75

Land use rights 30 - 50 0 2.00 - 3.33

When the purpose of investment real estate is changed to self-use, the Company will convert the investment real estate into fixed assets or intangible assets from the date of change. When the purpose of self-used real estate is changed to earn rent or capital appreciation, the company will convert fixed assets or intangible assets into investment real estate from the date of change. When conversion occurs, the book value before conversion will be used as the entry value after conversion.

When the investment real estate is disposed of, or is permanently withdrawn from use and no economic benefits are expected to be obtained from its disposal, the investment real estate shall be derecognized. The amount of income from the sale, transfer, scrapping or damage of investment real estate after deducting its book value and relevant taxes is included in the current profit and loss.

20. Fixed assets

(1) Confirmation conditions

Fixed assets refer to tangible assets held for the purpose of producing goods, providing labor services, leasing or operating management, and whose useful life exceeds one accounting year. Fixed assets are recognized when the following conditions are met at the same time:

1. The economic benefits related to the fixed asset are likely to flow into the enterprise;

2. The cost of the fixed asset can be measured reliably.

(2) Depreciation method

Category Depreciation method Depreciation period Residual value rate Annual depreciation rate Houses and buildings Year-averaged method 20-50 5-10 1.80-4.75

Machinery and equipment Average age method 2-15 0-10 6.00-50.00

Electronics and other equipment Average age method 3-10 0-10 9.00-33.33

Transportation equipment average age method 3-10 5-10 9.00-31.67

(3) Impairment of fixed assets

Please refer to Note 24, Impairment of Long-term Assets for details on the impairment testing method and impairment provision accrual method of fixed assets.

21. Projects under construction

(1) The construction-in-progress constructed by the Company itself is valued at actual cost. The actual cost consists of the necessary expenditures incurred before the asset reaches its intended usable state, including the cost of project materials, labor costs, relevant taxes paid, borrowing costs that should be capitalized, and indirect costs that should be apportioned. (2) For projects under construction, all expenditures incurred before the asset reaches its intended usable state shall be regarded as the recorded value of the fixed assets. If the construction in progress has reached the intended usable state, but the final settlement of completion has not yet been processed, from the date it reaches the intended usable state, the estimated value will be transferred to fixed assets based on the project budget, cost or actual cost of the project, etc., and the depreciation of the fixed assets will be accrued in accordance with the company's fixed asset depreciation policy. After the final settlement of completion has been processed, the original estimated value will be adjusted based on the actual cost, but the originally accrued depreciation amount will not be adjusted.

The specific standards and timing for converting the company's construction-in-progress into fixed assets are as follows:

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Category Criteria and timing for converting construction in progress into fixed assets

Houses and buildings meet construction completion acceptance standards

After installation and commissioning, the machinery and equipment meet the design requirements or the acceptance standards stipulated in the contract.

Please refer to Note 24, Impairment of Long-term Assets for details on the impairment testing method and impairment provision method for projects under construction.

22. Borrowing costs

(1) Recognition principles for capitalization of borrowing costs

If the borrowing costs incurred by the company can be directly attributed to the acquisition, construction or production of assets that meet the capitalization conditions, they will be capitalized and included in the cost of the relevant assets; other borrowing costs will be recognized as expenses based on the amount incurred when they are incurred and included in the current profits and losses.

Assets that meet the conditions for capitalization refer to fixed assets, investment real estate, inventories and other assets that require a considerable period of acquisition, construction or production activities to reach the intended usable or salable state.

Capitalization of borrowing costs begins when the following conditions are met at the same time:

(1) Asset expenditures have occurred. Asset expenditures include expenditures in the form of cash payments, transfers of non-cash assets or interest-bearing debts for the acquisition, construction or production of assets that meet capitalization conditions;

(2) Borrowing costs have been incurred;

(3) The purchase, construction or production activities necessary to bring the asset to its intended usable or salable state have begun.

(2) Capitalization period of borrowing costs

The capitalization period refers to the period from the time when borrowing costs start to be capitalized to the time when capitalization stops. The period during which the capitalization of borrowing costs is suspended is not included. When the acquisition, construction or production of assets that meet the capitalization conditions reaches the intended usable or salable state, the capitalization of borrowing costs ceases.

When part of the projects in the acquisition, construction or production of assets that meet the capitalization conditions are completed and can be used independently, the capitalization of the borrowing costs of this part of the assets will cease. If each part of an asset purchased, constructed or produced is completed separately, but it cannot be used or sold until the overall completion, the capitalization of borrowing costs will stop when the entire asset is completed.

(3) Capitalization suspension period

If an abnormal interruption occurs during the acquisition, construction or production of assets that qualify for capitalization, and the interruption lasts for more than 3 months, the capitalization of borrowing costs will be suspended; if the interruption is a necessary procedure for the acquisition, construction or production of assets that qualify for capitalization to reach the intended usable or salable state, the borrowing costs will continue to be capitalized. Borrowing costs incurred during the interruption period are recognized as current profits and losses, and the borrowing costs continue to be capitalized until the acquisition, construction or production activities of the assets restart.

(4) Calculation method of capitalized amount of borrowing costs

Interest expenses on special borrowings (deducting interest income from unused borrowed funds deposited in banks or investment income from temporary investments) and their auxiliary expenses shall be capitalized before the assets purchased, constructed or produced that meet the capitalization conditions reach the intended usable or salable state.

The amount of interest that should be capitalized on general borrowings is calculated and determined based on the weighted average of the asset disbursements that exceed the portion of the special borrowings multiplied by the capitalization rate of the occupied general borrowings. The capitalization rate is calculated and determined based on the weighted average interest rate of general borrowings.

If there is a discount or premium on the loan, the amount of discount or premium that should be amortized in each accounting period shall be determined according to the actual interest rate method, and the interest amount of each period shall be adjusted.

23. Intangible assets

(1) Useful life and its basis for determination, estimation, amortization method or review procedure

1. Initial measurement of intangible assets

Intangible assets refer to identifiable non-monetary assets without physical form owned or controlled by the company, including land use rights, patent rights, software, customer relationships, proprietary technology and others.

The cost of outsourced intangible assets includes the purchase price, relevant taxes and other expenses directly attributable to achieving the intended use of the asset. If the purchase price of intangible assets is deferred beyond normal credit conditions and is essentially financing in nature, the cost of the intangible assets shall be determined based on the present value of the purchase price.

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Debt restructuring obtains intangible assets from the debtor to offset debts, and determines its book value based on the fair value of the relinquished claims and taxes and other costs directly attributable to the asset, and the difference between the fair value of the relinquished claims and the book value is included in the current profit and loss.

Under the premise that the exchange of non-monetary assets has commercial substance and the fair value of the assets exchanged or exchanged can be measured reliably, the intangible assets exchanged in the exchange of non-monetary assets shall be valued based on the fair value of the assets exchanged, unless there is conclusive evidence that the fair value of the assets exchanged is more reliable; for non-monetary asset exchanges that do not meet the above premise, the book value of the assets exchanged and the relevant taxes payable shall be used as the cost of the intangible assets exchanged, and no profit or loss shall be recognized. The entry value of intangible assets acquired through the merger of enterprises under the same control shall be determined based on the book value of the merged party; the entry value of intangible assets acquired through the merger of enterprises under the same control shall be determined based on the fair value.

The cost of intangible assets developed internally includes: materials used in developing the intangible assets, labor costs, registration fees, amortization of other patent rights and franchises used in the development process, interest expenses that meet the capitalization conditions, and other direct costs incurred before the intangible assets reach their intended use.

2. Subsequent measurement of intangible assets

The company analyzes and determines the service life of intangible assets when acquiring them, and divides them into intangible assets with limited service life and intangible assets with uncertain service life.

A. Intangible assets with limited useful life

Intangible assets with limited service life are amortized on a straight-line basis over the period of time they bring economic benefits to the enterprise. The estimated life and basis of intangible assets with limited useful life are as follows:

Category Depreciation method Depreciation life (years) Residual value rate (%) Annual depreciation rate (%) Land use rights Average life method 30-50 0 2.00-3.33 Patent rights Average life method 3-10 0 10.00-33.33 Software Average life method 5-10 0 10.00-20.00

It is an intangible asset recognized in the merger of enterprises not under common control of the company. It is recorded at the fair value determined by evaluation and is expected to be affected by customer relationships and proprietary technology.

Average amortization during the profit period.

Others Average life method 5-10 0 10.00-20.00 At the end of each period, the service life and amortization method of intangible assets with limited service life are reviewed. If there is any difference from the original estimate, make corresponding adjustments.

After review, the useful life and amortization method of the intangible assets at the end of the current period are no different from previous estimates.

B. Intangible assets with indefinite service life

If the period during which an intangible asset can bring economic benefits to the enterprise cannot be foreseen, it is regarded as an intangible asset with an indefinite useful life.

For intangible assets with indefinite service life, they are not amortized during the holding period, and the life of the intangible assets is reviewed at the end of each period. If it is still uncertain after re-examination at the end of the period, impairment testing will continue to be performed in each accounting period.

After review, the useful life of this type of intangible assets is still uncertain.

(2) Scope of aggregation of R&D expenditures and related accounting treatment methods

1. Scope of R&D expenditure collection

The company classifies expenses directly related to the development of R&D activities as R&D expenditures, including R&D personnel salaries, material investment costs, depreciation expenses and amortization expenses, water and electricity expenses, office expenses, other expenses, etc.

2. Delineate specific standards for dividing the research stage and development stage of the company’s internal research and development projects

Research stage: The stage of original planned investigation and research activities to obtain and understand new scientific or technical knowledge.

Development stage: A stage in which research results or other knowledge are applied to a plan or design to produce new or substantially improved materials, devices, products, etc. before commercial production or use.

Expenditures in the research phase of internal research and development projects are included in the current profits and losses when incurred.

3. Expenditures during the development phase meet specific standards for capitalization

Expenditures during the development phase of internal research and development projects are recognized as intangible assets when the following conditions are met:

(1) It is technically feasible to complete the intangible asset so that it can be used or sold;

(2) Have the intention to complete the intangible asset and use or sell it;

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(3) The way in which intangible assets generate economic benefits includes being able to prove that there is a market for the products produced using the intangible assets or that the intangible assets themselves have a market. If the intangible assets will be used internally, their usefulness can be proven;

(4) It has sufficient technical, financial and other resource support to complete the development of the intangible asset and has the ability to use or sell the intangible asset; (5) Expenditures attributable to the development stage of the intangible asset can be measured reliably.

Expenditures in the development phase that do not meet the above conditions are included in the current profits and losses when incurred. Development expenditures that have been recognized in profit or loss in previous periods will not be re-recognized as assets in subsequent periods. Capitalized expenditures in the development phase are listed as development expenditures on the balance sheet and are converted into intangible assets from the date the project reaches its intended use.

24. Impairment of long-term assets

The Company determines whether there are signs of possible impairment of long-term assets on the balance sheet date. If there are signs of impairment of a long-term asset, its recoverable amount is estimated on the basis of an individual asset; if it is difficult to estimate the recoverable amount of an individual asset, the recoverable amount of the asset group to which the asset belongs is determined based on it.

The estimate of the recoverable amount of an asset is determined based on the higher of its fair value minus disposal costs and the present value of the asset's expected future cash flows.

The measurement results of the recoverable amount show that if the recoverable amount of a long-term asset is lower than its book value, the book value of the long-term asset will be written down to the recoverable amount, and the reduced amount will be recognized as asset impairment loss and included in the current profit and loss, and corresponding asset impairment provisions will be made. Once an asset impairment loss is recognized, it cannot be reversed in subsequent accounting periods.

After the asset impairment loss is recognized, the depreciation or amortization expenses of the impaired asset will be adjusted accordingly in the future period, so that the adjusted book value of the asset (deducting the estimated net residual value) will be systematically allocated to the asset within its remaining useful life.

Goodwill and intangible assets with indefinite useful lives formed due to business combinations are tested for impairment every year regardless of whether there are signs of impairment.

When conducting an impairment test on goodwill, the book value of goodwill is allocated to the asset groups or combinations of asset groups that are expected to benefit from the synergies of the business combination. When conducting an impairment test on a relevant asset group or combination of asset groups that contains goodwill, if there are signs of impairment in the asset group or combination of asset groups that are related to goodwill, first conduct an impairment test on the asset group or combination of asset groups that does not contain goodwill, calculate the recoverable amount, and compare it with the relevant book value to confirm the corresponding impairment loss. Then conduct an impairment test on the asset group or asset group combination containing goodwill, and compare the book value of these related asset groups or asset group combinations (including the book value portion of the allocated goodwill) with their recoverable amount. If the recoverable amount of the relevant asset group or asset group combination is lower than its book value, the impairment loss of goodwill is recognized.

25. Long-term deferred expenses

Long-term deferred expenses refer to various expenses that have been incurred by the company but should be borne by the current and subsequent periods with an amortization period of more than one year. Long-term deferred expenses are amortized on a straight-line basis during the beneficial period.

26. Contract liabilities

The Company recognizes the portion of the obligation to transfer goods to customers for consideration received or receivable from customers as contract liabilities.

27. Employee compensation

(1) Accounting treatment method for short-term compensation

Employee compensation refers to various forms of remuneration or compensation given by the company to obtain services provided by employees or to terminate labor relations. Employee compensation includes short-term compensation, post-employment benefits, termination benefits and other long-term employee benefits.

Short-term compensation refers to the employee compensation that the company needs to pay in full within twelve months after the end of the annual reporting period in which employees provide relevant services, excluding post-employment benefits and termination benefits. During the accounting period when employees provide services, the company recognizes the short-term remuneration payable as a liability, and includes it into relevant asset costs and expenses based on the beneficiaries of the services provided by the employees.

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(2) Accounting treatment of post-employment benefits

Post-employment benefits refer to various forms of remuneration and benefits provided by the company in order to obtain the services provided by employees after the employees retire or terminate the labor relationship with the enterprise, excluding short-term remuneration and dismissal benefits.

The Company's post-employment benefit plans are classified into defined contribution plans and defined benefit plans.

Post-employment welfare defined contribution plans mainly involve participation in basic social pension insurance, unemployment insurance, etc. organized and implemented by local labor and social security agencies; during the accounting period when employees provide services to the company, the deposit amount payable calculated based on the defined contribution plan is recognized as a liability and included in the current profit and loss or related asset costs. After the company regularly pays the above amounts in accordance with the standards and annuity plans stipulated by the state, it will have no other payment obligations.

Post-employment benefit defined benefit plans mainly provide clear and standard benefits outside the overall plan paid to retirees and living expenses paid to the survivors of deceased employees. For the obligations assumed in the defined benefit plan, an independent actuary uses the expected cumulative welfare unit method to perform actuarial calculation on the balance sheet date. The welfare obligations arising from the defined benefit plan are attributed to the period during which the employees provide services, and included in the current profit and loss or related asset costs, among which: Unless other accounting standards require or allow employee benefits Interest costs are included in the asset cost, and the service costs of the defined benefit plan and the net interest on the net liabilities or net assets of the defined benefit plan are included in the current profit and loss in the current period; changes caused by the remeasurement of the net liabilities or net assets of the defined benefit plan are included in other comprehensive income in the current period and are not allowed to be transferred back to profit or loss in subsequent accounting periods.

(3) Accounting treatment method for dismissal benefits

Dismissal benefits refer to the compensation given to employees by the company when the company terminates the labor relationship with employees before the expiration of the employee's labor contract, or to encourage employees to voluntarily accept redundancy. When the company cannot unilaterally withdraw the labor relationship termination plan or layoff proposal or when the company recognizes the costs and expenses related to the restructuring involving the payment of dismissal benefits, whichever is earlier, the liability arising from the compensation for the termination of the labor relationship with employees is recognized, and is included in the current profit and loss.

(4) Accounting treatment methods for other long-term employee benefits

Other long-term employee benefits refer to all employee benefits except short-term salary, post-employment benefits, and termination benefits.

For other long-term employee benefits that meet the conditions of the defined contribution plan, the amount payable is recognized as a liability during the accounting period when the employee provides services to the company, and is included in the current profit and loss or related asset costs; other long-term employee benefits other than the above situations are actuated by an independent actuary using the expected cumulative welfare unit method on the balance sheet date, and the welfare obligations arising from the defined benefit plan are attributed to the period in which the employee provides services, and included in the current profit and loss or related asset costs.

28. Estimated liabilities

(1) Recognition standards for estimated liabilities

When the obligations related to contingencies meet the following conditions at the same time, the company shall recognize them as estimated liabilities:

The obligation is a present obligation of the Company;

Fulfillment of this obligation is likely to result in an outflow of economic benefits from the Company;

The amount of the obligation can be measured reliably.

(2) Measurement method of estimated liabilities

The Company's estimated liabilities are initially measured based on the best estimate of the expenditures required to fulfill the relevant current obligations.

When determining the best estimate, the company comprehensively considers factors such as risks, uncertainties and time value of money related to contingencies. For those that have a significant impact on the time value of money, the best estimate is determined by discounting the relevant future cash outflows.

The best estimate is processed in the following situations:

If there is a continuous range (or interval) of required expenditures, and various outcomes within the range are equally likely to occur, the best estimate shall be determined based on the middle value of the range, that is, the average of the upper and lower limits.

If the required expenditure does not exist in a continuous range (or interval), or although there is a continuous range, the likelihood of occurrence of various results within the range is not the same. If the contingency involves a single project, the best estimate is determined based on the most likely amount; if the contingency involves multiple projects, the best estimate is calculated and determined based on various possible results and related probabilities.

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If all or part of the company's expenses required to settle estimated liabilities are expected to be compensated by a third party, the compensation amount will be recognized separately as an asset when it is basically certain that it can be received, and the recognized compensation amount will not exceed the book value of the estimated liabilities.

29. Share-based payment

(1) Types of share-based payment

The Company's share-based payment is divided into equity-settled share-based payment and cash-settled share-based payment.

(2) Method for determining the fair value of equity instruments

For equity instruments such as options granted in an active market, the fair value shall be determined based on the quoted price in the active market. For equity instruments such as options granted for which there is no active market, an option pricing model is used to determine the fair value. The option pricing model selected takes into account the following factors: 1) the exercise price of the option; 2) the validity period of the option; 3) the current price of the underlying shares; 4) the expected volatility of the stock price; 5) the expected dividends of the shares; 6) the risk-free interest rate during the validity period of the option.

When determining the fair value of the equity instrument on the grant date, the impact of market conditions and non-vestigation conditions in the vesting conditions stipulated in the share-based payment agreement shall be considered. If there are non-exercisable conditions for share-based payment, as long as the employees or other parties meet all the non-market conditions (such as service period, etc.) among the exercisable conditions, the corresponding costs and expenses for the services will be confirmed.

(3) Basis for determining the best estimate of exercisable equity instruments

On each balance sheet date during the waiting period, the best estimate is made based on the latest changes in the number of vested employees and other subsequent information, and the number of equity instruments expected to be vested is revised. On the vesting date, the final expected number of vested equity instruments is consistent with the actual number of vested equity instruments.

(4) Accounting treatment method

1. Accounting treatment of equity-settled and cash-settled share-based payments

Equity-settled share-based payments are measured at the fair value of the equity instruments granted to employees. If the rights become exercisable immediately after grant, the fair value of the equity instrument on the grant date will be included in the relevant costs or expenses, and the capital reserve will be increased accordingly. If the vesting cannot be vested until the services within the waiting period are completed or the specified performance conditions are met, on each balance sheet date during the waiting period, based on the best estimate of the number of vested equity instruments and the fair value of the equity instrument on the grant date, the services obtained in the current period will be included in the relevant costs or expenses and capital reserves. No adjustments will be made to the recognized related costs or expenses and the total owner's equity after the vesting date.

Cash-settled share-based payments are measured based on the fair value of the liability calculated and determined based on shares or other equity instruments assumed by the company. If the rights become exercisable immediately after grant, the fair value of the liability assumed by the Company on the date of grant will be included in the relevant costs or expenses, and the liability will be increased accordingly. For cash-settled share-based payments that are exercisable after completing services during the waiting period or meeting specified performance conditions, on each balance sheet date during the waiting period, based on the best estimate of the vesting situation and the fair value of the liability borne by the company, the services obtained in the current period will be included in costs or expenses and corresponding liabilities. On each balance sheet date and settlement date before the settlement of relevant liabilities, the fair value of the liability is remeasured, and its changes are included in the current profit and loss.

2. Accounting treatment for modifications to the terms and conditions of share-based payment

For adverse modifications, the Company will treat the change as if it had never occurred and continue to account for the services obtained.

For favorable modifications, the company handles them in accordance with the following regulations: If the modification increases the fair value of the equity instruments granted, the enterprise shall recognize the increase in services obtained according to the increase in the fair value of the equity instruments. If the modification occurs during the waiting period, when the fair value of the service is obtained between the modification date and the modified vesting date, it shall include both the service amount determined based on the fair value of the original equity instrument grant date during the remaining original waiting period, and the increase in the fair value of the equity instrument. If the modification occurs after the vesting date, the increase in the fair value of the equity instrument should be recognized immediately. If the share-based payment agreement requires employees to complete a longer period of service before they can obtain modified equity instruments, the company should recognize the increase in the fair value of the equity instruments throughout the waiting period.

If the modification increases the number of equity instruments granted, the enterprise will recognize the fair value of the increased equity instruments as an increase in the services obtained accordingly. If the modification occurs during the waiting period, when the fair value of the service is obtained between the date of confirmation of the modification and the vesting date of the increased equity instrument, it shall include both the service amount determined based on the fair value of the original equity instrument granting date during the remaining original waiting period, and the increase in the fair value of the equity instrument.

If an enterprise modifies the vesting conditions in a way that is beneficial to employees, such as shortening the waiting period, changing or canceling performance conditions (rather than market conditions), the enterprise should consider the modified vesting conditions when handling the vesting conditions.

3. Accounting treatment for cancellation of share-based payment

If the granted equity instruments are canceled during the waiting period, the company will treat the cancellation of the granted equity instruments as accelerated exercise, and the amount that should be recognized during the remaining waiting period will be immediately included in the current profit and loss, and the capital reserve will be recognized at the same time. If employees or other parties can choose to meet the non-vesting conditions but fail to do so within the waiting period, the company will treat it as the cancellation of the equity instruments granted.

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30. Income

Disclose accounting policies adopted for revenue recognition and measurement by business type

The company's revenue mainly comes from the following business types: AI hardware, automobiles and low-altitude economy, etc.

(1) General principles of revenue recognition

When the company fulfills its performance obligations in the contract, that is, when the customer obtains control of the relevant goods or services, revenue is recognized based on the transaction price allocated to the performance obligation.

Performance obligations refer to the company's commitment in the contract to transfer clearly distinguishable goods or services to customers.

Obtaining control over relevant goods means being able to direct the use of the goods and obtain almost all economic benefits from them.

The Company evaluates the contract on the contract inception date, identifies each individual performance obligation contained in the contract, and determines whether each individual performance obligation will be performed within a certain period of time or at a certain point in time. If one of the following conditions is met, it is a performance obligation performed within a certain period of time, and the company will recognize revenue over a period of time according to the performance progress: 1) The customer obtains and consumes the economic benefits brought by the company's performance while the company is performing the contract; 2) The customer can control the goods under construction during the company's performance; 3) The goods produced during the company's performance have irreplaceable uses, and the company has the right to collect payment for the cumulative performance part that has been completed so far during the entire contract period. Otherwise, the Company recognizes revenue at the point when the customer obtains control of the relevant goods or services.

For performance obligations to be fulfilled within a certain period of time, the Company uses the input method to determine the appropriate performance progress based on the nature of the goods and services. The investment method determines the performance progress based on the company's investment to fulfill its performance obligations. When the progress of contract performance cannot be reasonably determined, if the costs incurred by the company are expected to be compensated, revenue will be recognized based on the amount of costs incurred until the progress of contract performance can be reasonably determined.

For performance obligations fulfilled at a certain point in time, the Company recognizes revenue at the point when the customer obtains control of the relevant goods or services. When judging whether the customer has obtained control of the goods or services, the company will consider the following signs:

1. The company has the current right to receive payment for the goods or services;

2. The company has transferred the physical object of the commodity to the customer;

3. The company has transferred the legal ownership or the main risks and rewards of ownership of the goods to the customer;

4. The customer has accepted the goods or services, etc.

The company's sales of goods are performance obligations performed at a certain point in time. When the goods are delivered to the customer's site and the customer has accepted the goods, the customer obtains control of the goods. At the same time, the company recognizes revenue.

The company determines whether the company is the principal responsible person or agent when engaging in transactions based on whether it has control over the goods or services before transferring them to the customer. If the company is able to control the goods or services before transferring them to the customer, the company is the principal responsible person and recognizes revenue based on the total consideration received or receivable; otherwise, the company acts as the agent and recognizes revenue based on the amount of commissions or fees that it is expected to be entitled to receive. The amount is determined based on the net amount of the total consideration received or receivable after deducting the price payable to other related parties, or based on the established commission amount or ratio.

For sales with a sales return clause, when the customer obtains control of the relevant goods, the company recognizes revenue based on the amount of consideration that it is expected to be entitled to receive for transferring the goods to the customer (i.e., excluding the amount expected to be refunded due to sales returns), and recognizes revenue based on the amount expected to be refunded due to sales returns. Liabilities; at the same time, the balance after deducting the expected cost of recovering the goods (including the value impairment of the returned goods) based on the book value of the goods that are expected to be returned at the time of transfer is recognized as an asset. The book value of the transferred goods at the time of transfer, less the net amount of the cost of the above assets, is carried forward.

(2) Specific method of revenue recognition

In addition to the above-mentioned conditions for sales revenue recognition, the company's product sales revenue will be recognized when it meets the following conditions based on different ways of delivery and acceptance of goods to different customers:

1. Domestic sales are performance obligations performed at a certain point in time. According to the contract signed with the customer, revenue is recognized after the product is delivered to the customer for acceptance or confirmed with the other party.

2. Export sales are performance obligations performed at a certain point in time. Revenue is recognized when a special export invoice is issued, the goods have gone through departure procedures and the export declaration form is obtained, or after confirmation with the other party.

Similar business adopts different business models and involves different revenue recognition methods and measurement methods.

31. Contract costs

(1) Contract performance costs

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The company's costs incurred to perform the contract are recognized as an asset as contract performance costs if they do not fall within the scope of other business accounting standards other than the revenue standards and meet the following conditions:

1. The cost is directly related to a current or expected contract, including direct labor, direct materials, manufacturing overhead (or similar expenses), costs clearly borne by the customer, and other costs incurred solely because of the contract;

2. This cost increases the company’s resources for fulfilling its performance obligations in the future;

3. The cost is expected to be recovered.

The asset is reported in inventory or other non-current assets based on whether its amortization period at initial recognition exceeds one normal operating cycle.

(2) Contract acquisition cost

The incremental costs incurred by the Company to obtain the contract are expected to be recovered and are recognized as an asset as the contract acquisition cost. Incremental costs refer to costs that the company would not incur without obtaining the contract, such as sales commissions, etc. If the amortization period does not exceed one year, it will be included in the current profit and loss when incurred.

(3) Amortization of contract costs

The above-mentioned assets related to contract costs are amortized on the same basis as the revenue from goods or services related to the assets, and are amortized at the time when the performance obligation is fulfilled or according to the performance progress of the performance obligation, and included in the current profit and loss.

(4) Impairment of contract costs

If the book value of the above-mentioned assets related to contract costs is higher than the difference between the remaining consideration that the company expects to obtain from the transfer of the goods related to the asset and the estimated cost to be incurred for the transfer of the related goods, the excess shall be provided for impairment and recognized as asset impairment losses.

After the impairment provision is made, if the factors of impairment in the previous period change, causing the difference between the above two items to be higher than the book value of the asset, the asset impairment provision that was originally made will be reversed and included in the current profit and loss, but the book value of the asset after the reversal shall not exceed the book value of the asset on the date of reversal if no impairment provision is made.

32. Government subsidies

(1) Type

Government subsidies are monetary assets and non-monetary assets that the company obtains free of charge from the government. According to the subsidy objects specified in relevant government documents, government subsidies are divided into asset-related government subsidies and income-related government subsidies.

For government subsidies that do not specify the subsidy objects in government documents, the company divides them into asset-related government subsidies or income-related government subsidies based on the actual subsidy objects. For details of the relevant judgment basis, please see the notes on deferred income/other income items in Note 7 of this financial statement.

Asset-related government subsidies refer to government subsidies obtained by the company and used to purchase, construct or otherwise form long-term assets. Government subsidies related to income refer to government subsidies other than government subsidies related to assets.

(2) Confirmation of government subsidies

If there is evidence at the end of the period that the company can meet the relevant conditions stipulated in the financial support policy and is expected to receive financial support funds, the government subsidy will be recognized based on the amount receivable. In addition, government subsidies are recognized when they are actually received.

If government subsidies are monetary assets, they shall be measured based on the amount received or receivable. If the government subsidy is a non-monetary asset, it shall be measured at fair value; if the fair value cannot be obtained reliably, it shall be measured at the nominal amount (RMB 1). Government subsidies measured according to the nominal amount are directly included in the current profit and loss.

(3) Accounting treatment method

The company determines whether a certain type of government subsidy business should adopt the gross method or the net method for accounting treatment based on the essence of the economic business. Under normal circumstances, the Company only chooses one method for the same or similar government subsidy business, and uses this method consistently for this business.

Government subsidies related to assets should be offset against the book value of the relevant assets or recognized as deferred income. If government subsidies related to assets are recognized as deferred income, they shall be included in profits and losses in installments in a reasonable and systematic manner within the useful life of the assets constructed or purchased.

If government subsidies related to income are used to compensate the enterprise for relevant expenses or losses in the future period, they are recognized as deferred income, and are included in the current profit and loss or offset the relevant costs during the period when the relevant expenses or losses are recognized; if they are used to compensate the enterprise for the relevant expenses or losses that have already occurred, they are directly included in the current profits and losses or offset the relevant costs when they are obtained.

Government subsidies related to the daily activities of the enterprise are included in other income or offset related costs and expenses; government subsidies unrelated to the daily activities of the enterprise are included in non-operating income and expenses.

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Government subsidies related to policy-based preferential loan interest discounts are received to offset related borrowing costs; if a policy-based preferential interest rate loan is obtained from a lending bank, the actual loan amount received is used as the entry value of the loan, and the relevant borrowing costs are calculated based on the loan principal and the policy-based preferential interest rate.

When a confirmed government subsidy needs to be returned, if the book value of the relevant assets is offset at the time of initial recognition, the book value of the assets is adjusted; if there is a balance of relevant deferred income, the book balance of the relevant deferred income is offset, and the excess is included in the current profit and loss; if there is no relevant deferred income, it is directly included in the current profit and loss.

33. Deferred income tax assets/deferred income tax liabilities

Deferred income tax assets and deferred income tax liabilities are calculated and recognized based on the difference (temporary difference) between the tax basis of assets and liabilities and their book value. On the balance sheet date, deferred income tax assets and deferred income tax liabilities are measured according to the applicable tax rate during the period when the asset is expected to be recovered or the liability is settled.

(1) Basis for recognizing deferred income tax assets

The Company recognizes deferred income tax assets arising from deductible temporary differences to the extent that it is likely to obtain taxable income that can be used to offset the deductible temporary differences and can be carried forward to deductible losses and tax credits in future years. However, deferred income tax assets arising from the initial recognition of assets or liabilities in transactions with the following characteristics will not be recognized: 1) The transaction is not a business combination; 2) When the transaction occurs, it neither affects accounting profits nor taxable income or deductible losses.

For deductible temporary differences related to investments in associates, corresponding deferred income tax assets are recognized if the following conditions are met: the temporary differences are likely to be reversed in the foreseeable future, and it is likely to be taxable income that can be used to offset the deductible temporary differences in the future.

(2) Basis for recognizing deferred income tax liabilities

The company recognizes the taxable temporary differences payable and unpaid between the current period and previous periods as deferred income tax liabilities. But does not include:

1. Temporary differences caused by the initial recognition of goodwill;

2. Transactions or events that are not formed by a business combination, and when such transactions or events occur, they will neither affect accounting profits nor temporary differences resulting from taxable income (or deductible losses);

3. For taxable temporary differences related to investments in subsidiaries and associates, the time of reversal of the temporary differences can be controlled and the temporary differences are likely not to be reversed in the foreseeable future.

(3) When the following conditions are met at the same time, deferred income tax assets and deferred income tax liabilities will be presented as the net amount after offsetting

1. The enterprise has the legal right to settle current income tax assets and current income tax liabilities on a net basis;

2. Deferred income tax assets and deferred income tax liabilities are related to the income tax levied by the same tax collection and administration department on the same taxable entity or to different taxable entities. However, in each future period when important deferred income tax assets and deferred income tax liabilities are reversed, the taxable entity involved intends to settle the current income tax assets and current income tax liabilities with a net amount or to obtain assets and pay off debts at the same time.

34. Leasing

(1) Accounting treatment method for leasing as lessee

On the contract inception date, the Company evaluates whether the contract is a lease or contains a lease. A contract is or contains a lease if one party transfers the right to control the use of one or more identified assets for a certain period in exchange for consideration.

On the start date of the lease period, except for short-term leases and low-value asset leases that apply simplified treatment, the company recognizes right-of-use assets and lease liabilities for leases. 1) Short-term leasing and leasing of low-value assets

A short-term lease is a lease that does not include an option to purchase and has a term of no more than 12 months. Low-value asset leases refer to leases with a lower value when a single leased asset is a new asset.

The company does not recognize right-of-use assets and lease liabilities for the following short-term leases and low-value asset leases. The relevant lease payments are included in the relevant asset cost or current profit and loss according to the straight-line method or other systematic and reasonable methods during each period during the lease term.

Project Adopting Simplified Treatment of Lease Asset Classes

Short-term lease A lease with a lease term of less than one year (inclusive)

Leasing of low-value assets Leasing of office and machinery equipment with low unit value

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The Company recognizes right-of-use assets and lease liabilities for short-term leases and low-value asset leases other than the above.

2. Right-of-use assets

The company initially measures right-of-use assets at cost, which includes:

a) The initial measurement amount of the lease liability;

b) The lease payment amount paid on or before the start date of the lease period, if there is a lease incentive, will be deducted from the amount related to the lease incentive that has been enjoyed; c) The initial direct costs incurred by the company;

d) The costs that the company expects to incur to dismantle and remove the leased assets, restore the site where the leased assets are located, or restore the leased assets to the state agreed upon in the lease terms (excluding costs incurred for the production of inventories).

After the start date of the lease period, the Company adopts the cost model for subsequent measurement of right-of-use assets.

If it is reasonably certain that the ownership of the leased asset will be obtained at the expiration of the lease term, the Company will accrue depreciation over the remaining useful life of the leased asset. If it is not reasonably certain that the ownership of the leased asset will be obtained at the expiration of the lease term, the Company will accrue depreciation during the shorter of the lease term and the remaining useful life of the leased asset. For right-of-use assets for which impairment provisions have been made, depreciation will be made in future periods based on the book value after deducting impairment provisions in accordance with the above principles.

The Company determines whether the right-of-use assets have been impaired in accordance with the provisions of "Accounting Standards for Business Enterprises No. 8 - Impairment of Assets" and conducts accounting treatment for the identified impairment losses. For details, please see Note 24, Impairment of long-term assets.

3. Lease liabilities

The Company initially measures lease liabilities based on the present value of the unpaid lease payments on the start date of the lease term. When calculating the present value of lease payments, the Company uses the interest rate implicit in the lease as the discount rate; if the interest rate implicit in the lease cannot be determined, the Company's incremental borrowing rate is used as the discount rate. Lease payments include: a) fixed payments and substantive fixed payments after deducting lease incentive related amounts;

b) Variable lease payments that depend on an index or rate;

c) The lease payment includes the exercise price of the purchase option if the Company is reasonably certain that the option will be exercised;

d) When the lease term reflects that the Company will exercise the option to terminate the lease, the lease payment includes the payment required to exercise the option to terminate the lease; e) The amount expected to be paid based on the residual value of the guarantee provided by the Company.

The company calculates the interest expense of the lease liability in each period during the lease term based on a fixed discount rate, and includes it in the current profit and loss or related asset costs. Variable lease payments that are not included in the measurement of lease liabilities should be included in the current profit and loss or related asset costs when actually incurred.

(2) Accounting treatment method for leasing as lessor

1. Classification of leasing

The Company divides leases into finance leases and operating leases on the lease commencement date. A finance lease refers to a lease that substantially transfers substantially all the risks and rewards associated with ownership of the leased asset, and the ownership may or may not ultimately be transferred. Operating leases refer to leases other than finance leases. If a lease has one or more of the following circumstances, the Company usually classifies it as a finance lease:

a) At the expiration of the lease term, ownership of the leased asset is transferred to the lessee.

b) The lessee has an option to purchase the leased asset, and the purchase price established is sufficiently low compared to the fair value of the leased asset when the option is expected to be exercised, so that it is reasonably certain that the lessee will exercise the option on the lease commencement date.

c) Although the ownership of the asset is not transferred, the lease period accounts for the majority of the useful life of the leased asset.

d) At the inception of the lease, the present value of the lease payments is approximately equal to the fair value of the leased asset.

e) The leased assets are of special nature and can only be used by the lessee without major modifications.

If a lease has one or more of the following signs, the Company may also classify it as a finance lease:

a) If the lessee cancels the lease, the loss caused to the lessor by the cancellation of the lease shall be borne by the lessee.

b) Gains or losses arising from fluctuations in the fair value of the asset's residual value belong to the lessee.

c) The lessee has the ability to continue the lease to the next period at a rent well below market levels.

2. Accounting treatment of financial leases

On the start date of the lease period, the Company recognizes finance lease receivables for finance leases and terminates the recognition of finance lease assets.

When the financial lease receivable is initially measured, the sum of the unguaranteed residual value and the present value of the lease receipts that have not been received at the beginning of the lease term discounted at the interest rate implicit in the lease is the entry value of the financial lease receivable. Lease receipts include:

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a) The fixed payment amount and the actual fixed payment amount after deducting the amount related to the lease incentive;

b) Variable lease payments that depend on an index or rate;

c) When it is reasonably certain that the lessee will exercise the purchase option, the lease receipts include the exercise price of the purchase option;

d) The lease term reflects the situation where the lessee will exercise the option to terminate the lease, and the lease receipts include the payment required by the lessee to exercise the option to terminate the lease; e) The residual value of the guarantee provided to the lessor by the lessee, a party related to the lessee and an independent third party with the financial ability to fulfill the guarantee obligations.

The company calculates and recognizes interest income for each period during the lease term based on the fixed interest rate implicit in the lease. The variable lease payments obtained that are not included in the measurement of the net lease investment are included in the current profit and loss when they actually occur.

3. Accounting treatment of operating leases

The company uses the straight-line method or other systematic and reasonable methods in each period of the lease term to recognize the lease receipts from the operating lease as rental income; the initial direct expenses related to the operating lease are capitalized, and are amortized on the same basis as the rental income recognition during the lease period, and included in the current profit and loss in installments; the variable lease payments related to the operating lease that are not included in the lease receipts are included in the current profit and loss when they actually occur.

(3) Sale and leaseback transactions

The company evaluates and determines whether the asset transfer in the sale and leaseback transaction is a sale in accordance with the principles stated in "30. Revenue" of the accounting policy.

(1) As a lessee

If the asset transfer in a sale and leaseback transaction does not constitute a sale, the company will continue to recognize the transferred assets and at the same time recognize a financial liability equal to the transfer income, and perform accounting treatment on the financial liability in accordance with accounting policy "11. Financial Instruments". If the asset transfer is a sale, the company measures the right-of-use assets formed by the sale and leaseback based on the portion of the original asset's book value related to the right-of-use obtained through the leaseback, and only recognizes relevant gains or losses for the rights transferred to the lessor. (2) As a lessor

If the asset transfer in a sale and leaseback transaction does not constitute a sale, the company does not recognize the transferred asset, but recognizes a financial asset equal to the transfer income, and performs accounting treatment on the financial asset in accordance with accounting policy "11. Financial Instruments". If the asset transfer is a sale, the company will account for the asset purchase and the asset leasing in accordance with other applicable business accounting standards.

35. Other important accounting policies and accounting estimates

(1) Termination of operations

The Company will recognize an individually distinguishable component that meets one of the following conditions and that component has been disposed of or classified as held for sale as a discontinued operating component:

1. This component represents an independent major business or a separate major operating area.

2. The component is part of an associated plan to dispose of an independent major business or an independent major operating area. 3) The component is a subsidiary acquired exclusively for resale.

Impairment losses and reversal amounts from discontinued operations and other operating gains and losses and disposal gains and losses are presented in the income statement as gains and losses from discontinued operations.

In the balance sheet, the Company presents non-current assets held for sale or assets in the disposal group held for sale separately from other assets, and liabilities in the disposal group held for sale separately from other liabilities. Non-current assets held for sale or assets in a disposal group held for sale and liabilities in a disposal group held for sale are not offset against each other and are presented as current assets and current liabilities respectively. The company separately lists the profit and loss from continuing operations and the profit and loss from discontinued operations in the income statement. For discontinued operations reported in the current period, the company will re-present the information originally presented as profits and losses from continuing operations as profits and losses from discontinued operations in the comparable accounting period in the current financial statements. If the discontinued operations no longer meet the conditions for classification into held-for-sale categories, the company will re-present the information originally presented as profits and losses from discontinued operations as profits and losses from continuing operations in the comparable accounting period in the current financial statements.

(2) Repurchase the company’s shares

If the company repurchases the company's shares for reasons such as reducing registered capital or rewarding employees, the actual amount paid will be treated as treasury shares and will be registered for future reference. If the repurchased shares are cancelled, the difference between the total par value of the shares calculated based on the par value of the canceled shares and the number of canceled shares and the actual amount paid for repurchase will be offset against the capital reserve. If the capital reserve is insufficient for offset, the retained earnings will be offset; if the repurchased shares are awarded to the company The employee is an equity-settled share-based payment. When the employee exercises his option to purchase the company's shares and receives the price, the cost of the treasury shares delivered to the employee and the accumulated amount of capital reserve (other capital reserve) during the waiting period are written off, and at the same time, the capital reserve (equity premium) is adjusted according to the difference.

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(3) Dividend distribution

After the balance sheet date, dividends or profits planned to be distributed in the profit distribution plan that has been reviewed and approved will not be recognized as liabilities on the balance sheet date and will be disclosed separately in the notes.

(4) Related parties

If one party controls or jointly controls the other party or exerts significant influence on the other party, and two or more parties are controlled or jointly controlled by one party, they constitute related parties. Related parties can be individuals or businesses. Enterprises that are only controlled by the state and have no other related party relationships do not constitute related parties. In addition, the Group also determines the related parties of the Group or the Company in accordance with the "Measures for the Administration of Information Disclosure of Listed Companies" promulgated by the China Securities Regulatory Commission. (5) Segment report

Based on the functional characteristics of the products and the segmented industries, the company defines the reporting segments into three major categories, specifically: "AI Hardware" segment, "Automotive and Low-altitude Economy" segment and "Others" segment. The Company classifies and summarizes all operating income according to these three categories.

36. Changes in important accounting policies and accounting estimates

(1) Changes in important accounting policies

Applicable □Not applicable

Unit: Yuan Contents and reasons for changes in reported accounting policies that are significantly affected Amount affected

Table item name On December 5, 2025, the Ministry of Finance issued the "Notice on Issuing the Interpretation No. 19 of Accounting Standards for Business Enterprises"

Notice" (Financial Accounting [2025] No. 32), which stipulates "the accounting of compensating assets in business combinations not under common control".

"Accounting Treatment" "Accounting Treatment Regarding the Disposal of Capital Reserves Related to the Acquisition of a Subsidiary through a Business Merger Under Common Control"

"About the Derecognition of Financial Liabilities Settled by Electronic Payment Systems" "About the Contractual Cash Flows of Financial Assets"

"Evaluation and related disclosure of quantitative characteristics" and "Disclosure of equity instruments designated as measured at fair value through other comprehensive income. This accounting policy change" and other contents will be effective from January 1, 2026. The implementation of the above regulations did not have a significant impact on the company's financial report and the company's financial statements for the period. Table has no impact

On June 4, 2026, the Ministry of Finance issued the "Notice on Issuing the Interpretation No. 20 of Accounting Standards for Business Enterprises".

"Notice" (Cai Kuai [2026] No. 7), on "Assessment of Cash Flow Characteristics of Financial Asset Contracts" and "On Currency Shortage"

Further standardize and clarify content such as "Accounting Treatment and Related Disclosures on Lack of Convertibility". This explanation is published since

It came into effect on the date of implementation. The implementation of the above regulations did not have a significant impact on the company's financial statements during the reporting period.

(2) Changes in important accounting estimates

□Applicable Not applicable

(3) Adjustments to relevant items in the financial statements at the beginning of the year when the new accounting standards are implemented for the first time in 2026.

□Applicable Not applicable

37. Others

None

6. Taxes

1. Main tax types and tax rates

Tax Type Tax Calculation Basis Rate Value Added Tax Calculate output tax based on sales of goods or provision of taxable services 24%, 20%, 13%, 10%, 9%, 7%, 6%, 5%,

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Type of tax Tax calculation basis Tax rate

3%

Urban maintenance and construction tax actual paid turnover tax 5%, 7%

0%, 14%, 15%, 16.5%, 17%, 17.16%, corporate income tax taxable income

20%, 21%, 23.2%, 24%, 25%, 25.17% education fee surcharge, actual paid turnover tax 3%

Local education surcharge paid turnover tax 2%

Property tax 1. levied on an ad valorem basis; 2. levied on an ad valorem basis 1.2%, 12%

If there are taxpayers with different corporate income tax rates, a description of the disclosure

Name of tax payer Income tax rate

Lingyi Technology (Shenzhen) Co., Ltd. 25% Lingsheng Electronic Technology (Shenzhen) Co., Ltd. 25% Shenzhen Linglie CNC Equipment Co., Ltd. (Note 1) 15% Dongguan Shengxiang Precision Metal Co., Ltd. (Note 2) 15% Dongguan Lingyi Precision Manufacturing Technology Co., Ltd. 25% Dongguan Lingjie Metal Precision Manufacturing Technology Co., Ltd. (Note 3) 15% Chengdu Lingyi Technology Co., Ltd. (Note 4) 15% LY INVESTMENT (HK) LIMITED 16.5% Dongguan Xinyan Precision Tool Co., Ltd. (Note 5) 20% TLG INVESTMENT (HK) LIMITED 16.5% TRIUMPH LEAD GROUP USA, INC. 21% TRIUMPH LEAD GROUP LIMITED (registered in BVI) 0% HONG KONG CRYSTALYTE LIMITED 16.5% Dongguan Linghui Precision Manufacturing Technology Co., Ltd. 25% Lingsheng City Technology (Jiangsu) Co., Ltd. (Note 6) 15% Zhengzhou Lingsheng Technology Co., Ltd. (Note 7) 15% Suzhou Lingyu Electronic Technology Co., Ltd. (Note 8) 15% Zhengzhou Lingye Technology Co., Ltd. 25% Chengdu Lingtai Technology Co., Ltd. 25% Shenzhen Lingyi Technology Supply Chain Management Co., Ltd. 25% Guangdong Lingyi Intelligent Manufacturing Co., Ltd. 25% Jiangmen Anci Electronics Co., Ltd. (Note 9) 15% Jiangmen Jiangyi Magnetic Materials Co., Ltd. 25% Jiangmen Enfuxin Electronic Materials Co., Ltd. (Note 5) 20% Jiangfen Magnetic Materials (Wuhan) Technology R&D Co., Ltd. (Note 5) 20% Jiangmen Jinci Magnetic Materials Co., Ltd. (Note 5) 20% Heshan Jiangfen Magnetic Materials New Materials Co., Ltd. (Note 5) 20% Jiangmen Zhengxi Mechanical Equipment Co., Ltd. (Note 5) 20% Shenzhen Qianhai Fangyuan Commercial Factoring Co., Ltd. 25% Jiangmen Chuangfu Investment Management Co., Ltd. (Note 5) 20% Jiangfen Magnetic Materials International Holdings Co., Ltd. 16.5% Lingchao (Guangzhou) Private Equity Investment Fund Management Co., Ltd. (Note 5) 20% Shenzhen Dongfang Liangcai Precision Technology Co., Ltd. 25% Lingyi Intelligent Manufacturing Technology (Dongguan) Co., Ltd. 25% Dongguan Oubidi Precision Hardware Co., Ltd. 25% Leading Technology (Dongtai) Co., Ltd. 25% Suzhou Lingyi Trading Co., Ltd. 25% Salcomp Plc (Note 11) 20% Salcomp Manufacturing Oy (Note 11) 20% Salcomp Industrial Eletronica da Amazonia Ltda (hereinafter referred to as "Salcomp Brazil") (Note 12) 14% Salcomp Technology (Shenzhen) Co., Ltd. (Note 13) 15% Salcomp (Guigang) Co., Ltd. (Note 14) 15% Salcomp Manufacturing India Private Limited (hereinafter referred to as "Salcomp India") (Note 15) 25.17% Salcomp Taiwan Co., Ltd 20% Isallom India Private Limited 25.17%

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Name of tax payer Income tax rate

Mianyang Weiwei Electronic Technology Co., Ltd. (Note 16) 15% Shenzhen Lingtao Technology Co., Ltd. (Note 17) 15% Shenzhen Lingpeng Intelligent Technology Co., Ltd. (Note 18) 15% Triumph Lead (Singapore) Pte. Ltd (Note 19) 15% SALCOMP HOLDINGS PTE. LTD 17% SALCOMP TURKEY TEKNOLOJİ SANAYİ VE TİCARET ANONİM ŞİRKETİ (Note 20) 24% LingYi iTech Investment (HK) Limited 16.5% Dongguan Lingbo Industrial Co., Ltd. 25% Suzhou Lingding New Energy Technology Co., Ltd. 25% Guilin Lingyi Manufacturing Co., Ltd. (Note 21) 15% Huangshan Lingyi Communication Technology Co., Ltd. (Note 5) 20% Lingyi Industrial (Zhuhai) Co., Ltd. 25% Suzhou Lingyi Intelligent Technology Co., Ltd. 25% Zhejiang Jintai Electronics Co., Ltd. 25% Dongguan Shengtao Technology Co., Ltd. 25% Suzhou Linkhui New Energy Technology Co., Ltd. 25% Fujian Lingfu New Energy Technology Co., Ltd. 25% Yitao Technology (Dongguan) Co., Ltd. (Note 5) 20% Dongtai Lingyu Intelligent Technology Co., Ltd. 25% Yangzhou Linghuang Technology Co., Ltd. 25% Salcomp Technologies India Private Limited 17.16% Yangzhou Lingsheng New Energy Co., Ltd. 25% Changzhou Lingsheng New Energy Technology Co., Ltd. 25% Chengdu Lingtao New Energy Technology Co., Ltd. 25% Guilin Salcomp Electronic Technology Co., Ltd. (Note 22) 15% Dongguan Lingrui Technology Co., Ltd. 25% Salcomp Energy USA Inc. 21% Salcomp Manufacturing USA Corp. 21% Valor Log Armazem Geral Ltda (Note 23) 24% LINGYI VIET NAM COMPANY LIMITED (Note 24) 0% Zhuhai Lingyi Communication Technology Co., Ltd. 25% Yangzhou Lingtao Technology Co., Ltd. (Note 5) 20% Yangzhou Linghui New Energy Co., Ltd. 25% Triumph Lead (Finland) Pte.Ltd Oy (Note 11) 20% Wenzhou Core Shell Technology Co., Ltd. (Note 5) 20% Dongtai Lingtao Electronics Co., Ltd. (Note 5) 20% Shenzhen Huazhiyi Automation Technology Co., Ltd. 25% Linghui Precision Manufacturing Co., Ltd. (Note 25) 23.2% LINGHUI SG NEW ENERGY PTE.LTD. 17% LINGYI THAI NGUYEN VIET NAM COMPANY LIMITED (Note 26) 0% Jiangsu Lingyicheng Electronic Technology Development Co., Ltd. (Note 5) 20% Shenzhen Lingyi Liangcai Trading Co., Ltd. 25% Suzhou Lingye Intelligent Technology Co., Ltd. (Note 5) 20% Salcomp Electronics (Suzhou) Co., Ltd. 25% Shenzhen Lingyi Robot Technology Co., Ltd. 25% Dongguan Lingzhi Innovation Robot Technology Co., Ltd. (Note 5) 20% Shenzhen Lingfu Robot Technology Co., Ltd. (Note 5) 20% Dongguan Jieying Precision Silicone Technology Co., Ltd. 25% ANSHUN (ASIA) INVESTMENT LIMITED 16.5% THE CARE LABS COMPANY LIMITED 16.5% Jiangsu Keda Stern Automotive Technology Co., Ltd. (Note 27) 15% Changzhou Keda Auto Parts Co., Ltd. 25% Anhui Keda Auto Parts Co., Ltd. 25% Anqing Keda Auto Parts Co., Ltd. 25% Hefei Stern Auto Parts Co., Ltd. (Note 5) 20%

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Name of tax payer Income tax rate Zhengzhou Keda Stern Auto Parts Co., Ltd. 25%

Xiangtan Keda Automotive Trim System Co., Ltd. (Note 5) 20%

Ningde Keda Stern Automotive Interior Systems Co., Ltd. (Note 5) 20%

Jinan Keen Auto Parts Co., Ltd. (Note 5) 20%

Shenyang Keda Stern Automotive Parts Co., Ltd. (Note 5) 20%

Ningbo Stern Automotive Trim Co., Ltd. (Note 5) 20%

Zhejiang Xianglong Machinery Co., Ltd. (Note 28) 15%

Ningbo Xianglong Auto Parts Co., Ltd. 25%

Ningbo Longjun Import and Export Co., Ltd. 25%

Xianglong Manufacturing (Thailand) Co., Ltd. (Note 29) 0%, 20% Beijing Lingyi Robot Co., Ltd. (Note 5) 20%

Suzhou Lingchao Robot Intelligent Manufacturing Co., Ltd. 25%

Chengdu Lingzhi Innovation Robot Technology Co., Ltd. 25%

Dongguan Liminda Electronic Technology Co., Ltd. (Note 10) 15%

Shanghai Liminda Electronic Technology Co., Ltd. (Note 5) 20%

READORE TECHNOLOGY (HK) LIMITED 16.5%

Zhengzhou Lingzhi Innovation Robot Technology Co., Ltd. 25%

Triumph Lead Group (Thailand) Co., Ltd. 20%

KOODA STONE (SINGAPORE) PTE. LTD. 17%

READORE ITECH (SINGAPORE) PTE. LTD. 17%

Kooda Stone Co., Ltd. 20%

Ningbo Longsheng Magnesium Technology Co., Ltd. (Note 5) 20%

SALCOMP TECHNOLOGY VIETNAM COMPANY LIMITED 20%

Readore Logistics Philippines Inc. (Note 30) 0%

2. Tax incentives

Note 1: On November 7, 2023, Shenzhen Science and Technology Innovation Commission, Shenzhen Finance Bureau, and State Administration of Taxation Shenzhen Taxation Bureau recognized Shenzhen Linglie CNC Equipment Co., Ltd. as a high-tech enterprise. The certificate number is GR202344202307. It is valid for three years. From January to June 2026, it will temporarily pay corporate income tax at a rate of 15%.

Note 2: On December 19, 2025, the Guangdong Provincial Department of Science and Technology, the Guangdong Provincial Department of Finance, and the State Administration of Taxation Guangdong Provincial Taxation Bureau recognized Dongguan Shengxiang Precision Metal Co., Ltd. as a high-tech enterprise. The certificate number is GR202544000356. It is valid for three years. From January to June 2026, it will pay corporate income tax at a rate of 15%.

Note 3: On December 11, 2024, the Guangdong Provincial Department of Science and Technology, the Guangdong Provincial Department of Finance, and the State Administration of Taxation Guangdong Provincial Taxation Bureau recognized Dongguan Lingjie Metal Precision Manufacturing Technology Co., Ltd. as a high-tech enterprise. The certificate number is GR202444001533. It is valid for three years. From January to June 2026, it will pay corporate income tax at a rate of 15%.

Note 4: According to the document spirit of the "Announcement of the State Administration of Taxation on Corporate Income Tax Issues Related to the Deep Implementation of the Western Development Strategy" (State Administration of Taxation Announcement No. 12, 2012) and the "Announcement of the Ministry of Finance and the State Administration of Taxation and the National Development and Reform Commission on the Continuation of the Corporate Income Tax Policy for the Western Development Strategy" (Ministry of Finance Announcement No. 23, 2020), Chengdu Lingyi Technology Co., Ltd. is subject to a 15% income tax, and a 15% corporate income tax rate will be applicable in 2025.

Note 5: According to the "Enterprise Income Tax Law of the People's Republic of China" and its implementation regulations, and the "Announcement of the Ministry of Finance and the State Administration of Taxation on Tax Policies for Further Supporting the Development of Small and Micro Enterprises and Individual Industrial and Commercial Households" (Announcement No. 12 of the Ministry of Finance and the State Administration of Taxation of 2023): small and low-profit enterprises will calculate taxable income at a reduced rate of 25% and pay corporate income tax at a rate of 20%. The policy will be implemented until December 31, 2027. The company meets the conditions of a small and low-profit enterprise from January to June 2026, and a preferential corporate income tax rate of 20% is applicable.

Note 6: On November 11, 2024, the Jiangsu Provincial Department of Science and Technology, the Jiangsu Provincial Department of Finance, and the State Administration of Taxation Jiangsu Provincial Taxation Bureau recognized Lingshengcheng Technology (Jiangsu) Co., Ltd. as a high-tech enterprise. The certificate number is GR202432000307 and is valid for three years. From January to June 2026, it will pay corporate income tax at a rate of 15%.

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Note 7: On December 13, 2023, the Henan Provincial Department of Science and Technology, the Henan Provincial Department of Finance, and the State Administration of Taxation Henan Provincial Taxation Bureau recognized Zhengzhou Lingsheng Technology Co., Ltd. as a high-tech enterprise. The certificate number is GR202341000867. It is valid for three years. From January to June 2026, it will temporarily pay corporate income tax at a rate of 15%.

Note 8: On December 19, 2025, the Jiangsu Provincial Department of Science and Technology, the Jiangsu Provincial Department of Finance, and the State Administration of Taxation Jiangsu Provincial Taxation Bureau recognized Suzhou Lingyu Electronic Technology Co., Ltd. as a high-tech enterprise. The certificate number is GR202532006519 and is valid for three years. From January to June 2026, it will pay corporate income tax at a rate of 15%.

Note 9: On December 27, 2023, the Guangdong Provincial Department of Science and Technology, the Guangdong Provincial Department of Finance, and the State Administration of Taxation Guangdong Provincial Taxation Bureau recognized Jiangmen Anci Electronics Co., Ltd. as a high-tech enterprise. The certificate number is GR202344000820 and is valid for three years. From January to June 2026, it will temporarily pay corporate income tax at a rate of 15%.

Note 10: On December 28, 2023, the Guangdong Provincial Department of Science and Technology, the Guangdong Provincial Department of Finance, and the Guangdong Provincial Taxation Bureau of the State Administration of Taxation recognized Dongguan Liminda Electronic Technology Co., Ltd. as a high-tech enterprise. The certificate number is GR202344003176. It is valid for three years. From January to June 2026, it will temporarily pay corporate income tax at a rate of 15%.

Note 11: This subsidiary is located in Finland, and the effective tax rate for this period is 20%.

Note 12: Salcomp Brazil’s effective tax rate for the current period is 14%.

Note 13: On November 7, 2023, the Shenzhen Science and Technology Innovation Commission, the Shenzhen Finance Bureau, and the State Administration of Taxation Shenzhen Taxation Bureau recognized Salcomp Technologies (Shenzhen) Co., Ltd. as a high-tech enterprise. The certificate number is GR202344202644 and is valid for three years. From January to June 2026, it will temporarily pay corporate income tax at a rate of 15%.

Note 14: According to the document spirit of the "Announcement of the State Administration of Taxation on Corporate Income Tax Issues Related to the In-depth Implementation of the Western Development Strategy" (State Administration of Taxation Announcement No. 12 of 2012) and the "Announcement of the Ministry of Finance and the State Administration of Taxation and the National Development and Reform Commission on the Continuation of the Corporate Income Tax Policy for the Western Development Strategy" (Ministry of Finance Announcement No. 23 of 2020), Salcomp (Guigang) Co., Ltd. applies a 15% income tax, and a 15% corporate income tax rate will apply from January to June 2026.

Note 15: Salcomp India’s effective tax rate for the current period is 25.17%.

Note 16: On October 16, 2023, the Sichuan Provincial Department of Science and Technology, the Sichuan Provincial Department of Finance, and the State Administration of Taxation Sichuan Provincial Taxation Bureau recognized Mianyang Weiwei Electronic Technology Co., Ltd. as a high-tech enterprise. The certificate number is GR202351001623 and is valid for three years. From January to June 2026, it will temporarily pay corporate income tax at a rate of 15%.

Note 17: On December 25, 2025, Shenzhen Municipal Bureau of Industry and Information Technology, Shenzhen Municipal Finance Bureau, and State Administration of Taxation Shenzhen Municipal Taxation Bureau recognized Shenzhen Lingtao Technology Co., Ltd. as a high-tech enterprise. The certificate number is GR202544203409. It is valid for three years. From January to June 2026, it will pay corporate income tax at a rate of 15%.

Note 18: On December 25, 2025, Shenzhen Municipal Bureau of Industry and Information Technology, Shenzhen Municipal Finance Bureau, and State Administration of Taxation Shenzhen Municipal Taxation Bureau recognized Shenzhen Lingpeng Intelligent Technology Co., Ltd. as a high-tech enterprise. The certificate number is GR202544207080 and is valid for three years. From January to June 2026, it will pay corporate income tax at a rate of 15%.

Note 19: The effective tax rate under the influence of Pillar 2 is 15%.

Note 20: The effective tax rate for this period is 24%.

Note 21: According to the document spirit of the "Announcement of the State Administration of Taxation on Corporate Income Tax Issues Related to the In-depth Implementation of the Western Development Strategy" (State Administration of Taxation Announcement No. 12, 2012) and the "Announcement of the Ministry of Finance and the State Administration of Taxation and the National Development and Reform Commission on the Continuation of the Corporate Income Tax Policy for the Western Development Strategy" (Ministry of Finance Announcement No. 23, 2020), Guilin Lingyi Manufacturing Co., Ltd. applies a 15% income tax, and a 15% corporate income tax rate will apply from January to June 2026.

Note 22: According to the document spirit of the "Announcement of the State Administration of Taxation on Corporate Income Tax Issues Related to the Deep Implementation of the Western Development Strategy" (State Administration of Taxation Announcement No. 12 of 2012) and the "Announcement of the Ministry of Finance and the State Administration of Taxation and the National Development and Reform Commission on the Continuation of the Corporate Income Tax Policy for the Western Development Strategy" (Ministry of Finance Announcement No. 23 of 2020), Guilin Sercomp Electronic Technology Co., Ltd. applies a 15% income tax, and a 15% corporate income tax rate will apply from January to June 2026.

Note 23: The company’s effective tax rate for the current period is 24%.

Note 24: Enjoying the local preferential policy of two exemptions and four half reductions, the corporate income tax rate of 0% is applicable for this period.

Note 25: The effective tax rate of Linghang Precision Manufacturing Co., Ltd. for the current period is 23.2%.

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Note 26: Enjoying the local preferential policy of two exemptions and four half reductions, a 0% corporate income tax rate is applicable for this period.

Note 27: On November 6, 2024, the Jiangsu Provincial Department of Science and Technology, the Jiangsu Provincial Department of Finance, and the State Administration of Taxation Jiangsu Provincial Taxation Bureau recognized Jiangsu Keda Stern Automotive Technology Co., Ltd. as a high-tech enterprise. The certificate number is GR202432001204 and is valid for three years. From January to June 2026, a corporate income tax rate of 15% will apply.

Note 28: On December 6, 2024, the Ningbo Municipal Science and Technology Bureau, the Ningbo Municipal Finance Bureau, and the State Administration of Taxation Ningbo Municipal Taxation Bureau recognized Zhejiang Xianglong Machinery Co., Ltd. as a high-tech enterprise. The certificate number is GR202433100212 and is valid for three years. From January to June 2026, a corporate income tax rate of 15% will apply.

Note 29: According to the "Investment Promotion Law" promulgated by the Thailand Investment Promotion Board and its subsequent amendments, the operating profits of eligible foreign-invested BOI companies in Thailand that meet the major categories of BOI products can be exempted from corporate income tax for up to six years. The company's subsidiary Xianglong Machinery (Thailand) Co., Ltd. obtained a BOI certificate issued by the Thailand Investment Promotion Board on May 22, 2020. In compliance with the above preferential policies, it will pay corporate income tax at the rate of 0% and 20% from January to June 2026.

Note 30: As a PEZA-registered export enterprise, the company enjoys local preferential policies and applies a 0% corporate income tax rate for this period.

7. Notes on Consolidated Financial Statement Items

1. Monetary funds

Unit: Yuan

Item Ending balance Beginning balance

Cash on hand 296,831.03 41.26 Bank deposits 10,689,966,300.70 5,446,689,037.44 Other monetary funds 752,787,924.90 736,438,499.76 Total 11,443,051,056.63 6,183,127,578.46

Including: Total amount deposited abroad 8,052,798,316.83 2,274,500,022.54 Other instructions

Item Ending balance Beginning balance

Bank acceptance bill deposit 596,952,425.66 558,939,006.98 Bank frozen funds 94,854,155.56 107,019,306.57 Time deposits used to provide pledge/guarantee for bills of exchange 39,000,000.00 20,010,246.58 Guarantee deposit 12,774,387.26 20,881,452.13 Transfer check 0.00 20,000,000.00 Others 9,206,956.42 8,766,653.34 Total 752,787,924.90 735,616,665.60

2. Trading financial assets

Unit: Yuan

Item Ending balance Beginning balance

Measured at fair value with changes included in current profit and loss

2,133,167,241.51 1,529,402,409.97 beneficial financial assets

Among them:

Bank wealth management products 2,095,313,560.29 1,495,521,489.82 Derivative financial assets 22,172,347.88 835,532.56 Equity instrument investment 15,681,333.34 19,929,422.22 Performance compensation 0.00 13,115,965.37

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Item Ending balance Beginning balance

Total 2,133,167,241.51 1,529,402,409.97Other instructions

The balance of the performance compensation payment at the beginning of the period is the performance compensation payment recognized by the original shareholders due to failure to meet the performance commitments in accordance with the "Equity Purchase Agreement Regarding the Acquisition of 80% Equity Interests Each of Dongguan Jieying Precision Silicone Technology Co., Ltd. and Anshun (Asia) Investment Co., Ltd." and has been received in this period.

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3. Notes receivable

(1) Classified presentation of notes receivable

Unit: Yuan

Item Ending balance Beginning balance

Bank acceptance notes 265,662,011.44 204,687,009.26 Commercial acceptance notes 143,101,629.65 51,850,835.77 Less: Bad debt provisions -7,155,081.48 -2,592,541.80 Total 401,608,559.61 253,945,303.23

(2) Classified disclosure according to bad debt accrual method

Unit: Yuan Ending balance Beginning balance

Category Book balance Bad debt provision Book balance Bad debt provision

Book value Book value amount Proportion Amount Provision proportion Amount Proportion Amount Provision proportion

Among them:

Bad provision based on combination

Account provisions receivable 143,101,629.65 100.00% 7,155,081.48 5.00% 135,946,548.17 51,850,835.77 100.00% 2,592,541.80 5.00% 49,258,293.97 bills

Among them:

Commercial acceptance notes 143,101,629.65 100.00% 7,155,081.48 5.00% 135,946,548.17 51,850,835.77 100.00% 2,592,541.80 5.00% 49,258,293.97 Total 143,101,629.65 100.00% 7,155,081.48 5.00% 135,946,548.17 51,850,835.77 100.00% 2,592,541.80 5.00% 49,258,293.97 Category name of bad debt provisions accrued by combination:

Unit: Yuan ending balance

Name

Book balance Bad debt provision Provision ratio

Provision for bad debts on a portfolio basis

Including: Commercial acceptance notes 143,101,629.65 7,155,081.48 5.00%

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Name

Book balance Bad debt provision Provision ratio

Total 143,101,629.65 7,155,081.48

Description of what this combination is based on:

None

If bad debt provisions for notes receivable are made according to the general expected credit loss model:

□Applicable Not applicable

(3) Bad debt provisions accrued, recovered or reversed in the current period

Bad debt provisions for the current period:

Unit: Yuan Amount of changes in the current period

Category Beginning Balance Ending Balance

Provision Recovery or transfer Write-off Others

Commercial acceptance notes portfolio 2,592,541.80 7,155,081.48 2,592,541.80 7,155,081.48 Total 2,592,541.80 7,155,081.48 2,592,541.80 7,155,081.48 Among them, the amount of bad debt provision recovery or reversal in the current period is important:

□Applicable Not applicable

(4) Notes receivable pledged by the company at the end of the period

Unit: Yuan Project Amount pledged at the end of the period

Bank acceptance notes 89,881,254.76 Total 89,881,254.76

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Unit: Yuan

Item Amount derecognized at the end of the period Amount not derecognized at the end of the period

Bank acceptance notes 74,346,891.09 Total 74,346,891.09

4. Accounts receivable

(1) Disclosure based on aging

Unit: Yuan

Aging Book balance at the end of the period Book balance at the beginning of the period

Within 1 year (including 1 year) 12,667,004,235.50 14,475,705,502.89 1 to 2 years 52,789,429.43 19,532,859.58 2 to 3 years 13,153,072.16 14,590,540.27 More than 3 years 85,205,319.59 82,250,585.07 3 to 4 years 15,683,308.84 12,610,430.39 4 to 5 years 1,116,862.66 1,155,101.06

More than 5 years 68,405,148.09 68,485,053.62 Total 12,818,152,056.68 14,592,079,487.81

(2) Classified disclosure according to bad debt accrual method

Unit: Yuan Ending balance Beginning balance

Book balance Provision for bad debts Book balance Provision for bad debts

Category

Provision Book value Book value amount Proportion Amount Amount Proportion Amount Provision proportion

Proportion

Provision based on individual items 96,441,379.69 0.75% 94,664,205.85 98.16 1,777,173.84 91,657,803.69 0.63% 91,657,803.69 100.00% 0.00

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Accounts receivable

Among them:

Provision based on combination

Provision for bad debts 12,721,710,676.99 99.25% 643,299,211.34 5.06% 12,078,411,465.65 14,500,421,684.12 99.37% 730,661,734.00 5.04% 13,769,759,950.12Accounts receivable

Among them:

Combination 1: Aging

12,721,710,676.99 99.25% 643,299,211.34 5.06% 12,078,411,465.65 14,500,421,684.12 99.37% 730,661,734.00 5.04% 13,769,759,950.12 analysis combination

Total 12,818,152,056.68 100.00% 737,963,417.19 5.76% 12,080,188,639.49 14,592,079,487.81 100.00% 822,319,537.69 5.64% 13,769,759,950.12 Category name of bad debt provision for individual items: Accounts receivable for which bad debt provision is made for individual items

Unit: Yuan

Beginning balance Closing balance

Name

Book balance Bad debt provision Book balance Bad debt provision Provision ratio Reason for provision Accounts receivable for which bad debt provision is made individually 91,657,803.69 91,657,803.69 96,441,379.69 94,664,205.85 98.16% Total that is not expected to be recovered in full 91,657,803.69 91,657,803.69 96,441,379.69 94,664,205.85

Category name of provision for bad debts by combination: Aging analysis combination

Unit: Yuan

Ending balance

Name

Book balance Bad debt provision Provision ratio

Within 1 year (including 1 year) 12,665,398,532.94 633,269,919.01 5.00% 1-2 years (including 2 years) 43,173,528.12 4,317,352.81 10.00% 2-3 years (including 3 years) 8,355,673.79 1,671,134.76 20.00% 3-4 years (including 4 years) 1,160,325.56 580,162.78 50.00% 4-5 years (including 5 years) 323,949.20 161,974.60 50.00% More than 5 years 3,298,667.38 3,298,667.38 100.00% Total 12,721,710,676.99 643,299,211.34

Description of basis for determining this combination: None

If provision for bad debts of accounts receivable is made according to the general expected credit loss model: not applicable

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Bad debt provisions for the current period:

Unit: Yuan Amount of changes in the current period

Category Beginning Balance Ending Balance

Provision Recovery or transfer Write-off Others

Accounts receivable with single provision for expected credit losses 91,657,803.69 3,466,861.56 4,704.45 24,291.06 -431,463.89 94,664,205.85 Accounts receivable with collective provision for expected credit losses

Including: Aging analysis combination 730,661,734.00 119,224,356.12 216,432,930.50 0.00 9,846,051.72 643,299,211.34 Total 822,319,537.69 122,691,217.68 216,437,634.95 24,291.06 9,414,587.83 737,963,417.19 Among them, the amount of bad debt provision recovery or reversal in the current period is important: None

(4) Accounts receivable actually written off in the current period

Unit: Yuan

Item Write-off Amount

Actual write-off of accounts receivable 24,291.06 Among them, the write-off of important accounts receivable: None

(5) Accounts receivable and contract assets with the top five closing balances collected by debtors

Unit: Yuan Accounts receivable and contract assets account for the period Accounts receivable and contract assets Bad debt provision for accounts receivable and contract capital unit name Ending balance of accounts receivable Ending balance of contract assets

Closing balance Proportion of total closing balance First place in the closing balance of production impairment provision 1,586,814,164.14 1,586,814,164.14 12.38% 79,340,708.35 Second place 1,396,588,278.94 1,396,588,278.94 10.89% 69,829,413.99 Third place 848,204,641.40 848,204,641.40 6.62% 42,422,594.84 Fourth place 710,007,385.34 710,007,385.34 5.54% 35,500,369.27Fifth place 539,118,809.17 539,118,809.17 4.21% 26,955,940.45Total 5,080,733,278.99 5,080,733,278.99 39.64% 254,049,026.90

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5. Contract assets

(1) Contract assets

Unit: Yuan Ending balance Beginning balance

Project

Book balance Provision for bad debts Book value Book balance Provision for bad debts Book value

Unexpired warranty deposit 1,726,386.84 86,319.34 1,640,067.50 84,370.00 4,218.50 80,151.50Total 1,726,386.84 86,319.34 1,640,067.50 84,370.00 4,218.50 80,151.50

(2) Classified disclosure according to bad debt accrual method

Unit: Yuan Ending balance Beginning balance

Category Book balance Bad debt provision Book balance Bad debt provision

Book value Book value amount Proportion Amount Provision proportion Amount Proportion Amount Provision proportion

Among them:

Provision for bad debts by combination 1,726,386.84 100.00% 86,319.34 5.00% 1,640,067.50 84,370.00 100.00% 4,218.50 5.00% 80,151.50

Among them:

Aging analysis combination 1,726,386.84 100.00% 86,319.34 5.00% 1,640,067.50 84,370.00 100.00% 4,218.50 5.00% 80,151.50Total 1,726,386.84 100.00% 86,319.34 5.00% 1,640,067.50 84,370.00 100.00% 4,218.50 5.00% 80,151.50 Category name of bad debt provision by group:

Unit: Yuan ending balance

Name

Book balance Bad debt provision Provision ratio

Aging analysis portfolio 1,726,386.84 86,319.34 5.00% Total 1,726,386.84 86,319.34

Description of basis for determining this combination: None

Provision for bad debts based on the general expected credit loss model

□Applicable Not applicable

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6. Accounts receivable financing

(1) Classified presentation of financing receivables

Unit: Yuan Item Ending balance Beginning balance

Bank acceptance notes 357,259,632.66 403,378,297.24 Total 357,259,632.66 403,378,297.24

(2) Financing of the company’s pledged receivables at the end of the period

Unit: Yuan Project Amount pledged at the end of the period

Bank acceptance notes 11,815,003.04 Total 11,815,003.04

(3) Financing of receivables that have been endorsed or discounted by the company at the end of the period and have not yet matured on the balance sheet date

Unit: Yuan Item Amount derecognized at the end of the period Amount not derecognized at the end of the period

Bank acceptance notes 1,177,847,376.64

Total 1,177,847,376.64

7. Other receivables

Unit: Yuan Item Ending balance Beginning balance

Dividends receivable 896,107.02

Other receivables 299,282,851.66 426,267,877.26 Total 300,178,958.68 426,267,877.26

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1. Classification of dividends receivable

Unit: yuan project (or invested unit) Closing balance Opening balance

Jiangmen Martin Motor Technology Co., Ltd. 720,000.00

Jiaxing Chaoxi Hongtai Equity Investment Partnership (Limited Partnership) 176,107.02

Jiangmen Jianghai District Huitong Small Loan Co., Ltd. (Note) 0.00

Total 896,107.02

Note: Bad debt provisions have been fully accrued in the previous period

2. Important dividends receivable aged more than 1 year

None

3. Classified disclosure according to bad debt accrual method

Applicable □Not applicable

Unit: Yuan Ending balance Beginning balance

Category Book balance Bad debt provision Book balance Bad debt provision

Book value Book value amount Proportion Amount Provision proportion Amount Proportion Amount Provision proportion Provision for bad debts is made individually 5,000,000.00 100.00% 5,000,000.00 100.00% 5,000,000.00 100.00% 5,000,000.00 100.00% of which:

Total 5,000,000.00 100.00% 5,000,000.00 100.00% 5,000,000.00 100.00% 5,000,000.00 100.00% Bad debt provisions are accrued individually:

Unit: Yuan Beginning balance Ending balance

Name

Book balance Bad debt provision Book balance Bad debt provision Provision ratio Reason for provision Jiangmen City Jianghai District Huitong Small Loan Co., Ltd. 5,000,000.00 5,000,000.00 5,000,000.00 5,000,000.00 100.00% Expected to be unrecoverable

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Total 5,000,000.00 5,000,000.00 5,000,000.00 5,000,000.00

Changes in book balances with significant changes in loss provision for the current period: Not applicable

4. Bad debt provisions accrued, recovered or reversed in the current period

Unit: Yuan Amount of changes in the current period

Category Beginning Balance Ending Balance

Provision Recovery or reversal Write-off or write-off Other changes

Jiangmen Jianghai District Huitong Small Loan Co., Ltd. 5,000,000.00 5,000,000.00 Total 5,000,000.00 5,000,000.00 Among them, the amount of bad debt provision recovery or reversal in the current period is important: None

(2) Other receivables

1. Classification of other receivables according to nature of payment

Unit: Yuan

Nature of payment Book balance at the end of the period Book balance at the beginning of the period

Prepayment for bulk trade 477,297,922.02 477,297,922.02 Export tax rebate 123,937,066.81 268,562,543.29 Deposit and security deposit 175,887,160.69 152,110,230.00 Refund for cancellation of land use rights transfer contract 65,280,000.00 65,280,000.00 Current accounts 48,517,050.35 17,875,574.19 Government subsidies receivable 14,519,237.12 14,519,237.12 Disposal of long-term equity investments 13,574,033.21 Transactions between related entities within the non-consolidated scope 4,431,781.40 Taxes and security deposits payable by the government 76,191.69 82,495.33 Reserve funds 2,766,440.60 1,721,269.15 Others 638,144.05 451,309.13 Total 908,919,213.33 1,015,906,394.84

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Unit: Yuan

Aging Book balance at the end of the period Book balance at the beginning of the period

Within 1 year (including 1 year) 226,869,017.65 328,320,656.50 1 to 2 years 32,857,181.50 36,443,259.78 2 to 3 years 86,246,941.49 82,230,597.70 More than 3 years 562,946,072.69 568,911,880.86 3 to 4 years 20,952,361.33 20,672,416.44 4 to 5 years 21,857,933.10 38,269,146.47

More than 5 years 520,135,778.26 509,970,317.95 Total 908,919,213.33 1,015,906,394.84

3. Classified disclosure according to bad debt accrual method

Applicable □Not applicable

Unit: Yuan Ending balance Beginning balance

Category Book balance Bad debt provision Book balance Bad debt provision

book value book value

Amount Proportion Amount Provision proportion Amount Proportion Amount Provision proportion

Provision for bad debts made individually 539,983,249.59 59.41% 539,983,249.59 100.00% 0.00 511,446,949.92 50.34% 511,446,949.92 100.00% 0.00 Of which:

Provision for bad debts by combination 368,935,963.74 40.59% 69,653,112.08 18.88% 299,282,851.66 504,459,444.92 49.66% 78,191,567.66 15.50% 426,267,877.26 of which:

Portfolio 1: Aging analysis portfolio 368,935,963.74 40.59% 69,653,112.08 18.88% 299,282,851.66 504,459,444.92 49.66% 78,191,567.66 15.50% 426,267,877.26

1,015,906,394.8

Total 908,919,213.33 100.00% 609,636,361.67 67.07% 299,282,851.66 100.00% 589,638,517.58 58.04% 426,267,877.26 Category name of bad debt provision made on an individual basis: Other receivables with bad debt provision made on an individual basis

Unit: Yuan Name Beginning balance Ending balance

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Book balance Bad debt provision Book balance Bad debt provision Provision ratio Reason for provision Other receivables for which bad debt provision is made individually 511,446,949.92 511,446,949.92 539,983,249.59 539,983,249.59 100.00% Total that is not expected to be recovered in full 511,446,949.92 511,446,949.92 539,983,249.59 539,983,249.59

Category names of bad debt provisions accrued by portfolio:

Unit: Yuan ending balance

Name

Book balance Bad debt provision Provision ratio

Within 1 year (including 1 year) 197,933,946.39 9,895,381.89 5.00% 1-2 years (including 2 years) 31,353,632.91 3,135,363.29 10.00% 2-3 years (including 3 years) 86,246,941.49 17,249,388.30 20.00% 3-4 years (including 4 years) 20,718,232.73 10,359,116.37 50.00% 4-5 years (including 5 years) 7,338,695.98 3,669,347.99 50.00% More than 5 years 25,344,514.24 25,344,514.24 100.00% Total 368,935,963.74 69,653,112.08

Description of basis for determining this combination: None

Provision for bad debts is made based on the general expected credit loss model:

Unit: Yuan Phase 1 Phase 2 Phase 3

Provision for bad debts Total

Expected credit losses for the next 12 months Expected credit losses for the entire duration (no credit impairment has occurred) Expected credit losses for the entire duration (credit impairment has occurred)

Balance on January 1, 2026 78,191,567.66 511,446,949.92 589,638,517.58 Balance on January 1, 2026

period

Provision in the current period 4,988,752.41 29,150,442.63 34,139,195.04 Transfer in the current period 13,854,200.76 41,210.91 13,895,411.67 Write-off in the current period 0.00 351,227.26 351,227.26 Other changes 326,992.77 -221,704.79 105,287.98 Balance on June 30, 2026 69,653,112.08 539,983,249.59 609,636,361.67 Basis for division of each stage and proportion of bad debt provision: None

Changes in book balances with significant changes in loss provision during the period

□Applicable Not applicable

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Bad debt provisions for the current period:

Unit: Yuan Amount of changes in the current period

Category Beginning Balance Ending Balance

Provision Recovery or transfer Write-off or write-off Others

Provision for bad debts on an individual basis 511,446,949.92 29,150,442.63 41,210.91 351,227.26 -221,704.79 539,983,249.59 Provision for bad debts on a collective basis 78,191,567.66 4,988,752.41 13,854,200.76 0.00 326,992.77 69,653,112.08Total 589,638,517.58 34,139,195.04 13,895,411.67 351,227.26 105,287.98 609,636,361.67 Note: Others are mainly merger increases and exchange rate changes

Among them, the amount of bad debt provision for the current period that is reversed or recovered is important: None

5. Other receivables actually written off in the current period

Unit: Yuan

Item Write-off Amount

Other receivables actually written off 351,227.26 Among them, the write-off status of important other receivables: None

6. Other receivables with the top five closing balances based on debtors

Unit: Yuan accounted for other receivables at the end of the period

Unit name Nature of payment Closing balance Account age Closing balance of bad debt provision

Proportion of total balance

First place: Prepaid bulk trade amount 380,590,393.79 More than 5 years 41.87% 380,590,393.79 Second place: Prepaid bulk trade amount 96,707,528.23 More than 5 years 10.64% 96,707,528.23 Third place Refund for cancellation of land use rights transfer contract 65,280,000.00 2-3 years 7.18% 13,056,000.00 Fourth place export tax rebate 46,973,503.91 Within 1 year 5.17% 2,348,675.20 Fifth place export tax rebate 38,834,124.39 Within 1 year 4.27% 1,941,706.22Total 628,385,550.32 69.13% 494,644,303.44

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8. Prepayment

(1) Prepayments are listed based on aging

Unit: Yuan Ending balance Beginning balance

Aging

Amount Proportion Amount Proportion Within 1 year 162,288,281.27 93.09% 117,022,067.48 92.62% 1 to 2 years 6,514,268.31 3.74% 4,630,957.31 3.67% 2 to 3 years 2,654,935.50 1.52% 2,840,605.14 2.25% More than 3 years 2,877,986.45 1.65% 1,859,107.42 1.47% Total 174,335,471.53 126,352,737.35

Explanation on the reasons why prepayments with an aging of more than 1 year and significant amounts were not settled in a timely manner: None

(2) Prepayments with the top five ending balances by prepayment objects

Item Amount in June 2026 (yuan) Proportion of total prepayments Time of advance payment No. 1 reason for non-settlement 12,120,404.18 6.95% Within 1 year No. 2 goods have not arrived 11,403,670.58 6.54% Within 1 year No. 3 goods have not arrived 10,009,251.63 5.74% Within 1 year, the goods have not arrived at the fourth place 6,404,760.41 3.67% Within 1 year, the goods have not arrived at the fifth place 5,685,831.58 3.26% Within 1 year, the total goods have not arrived 45,623,918.38 26.16%

9. Inventory

Whether the company needs to comply with the real estate industry’s disclosure requirements

No

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Unit: Yuan Ending balance Beginning balance

Item Inventory depreciation provision or contract performance Inventory depreciation provision or contract

Book balance Book value Book balance Book value

Provision for impairment of contract costs Provision for impairment of performance costs

Raw materials 1,862,550,704.86 123,840,921.26 1,738,709,783.60 1,480,086,340.09 109,925,587.89 1,370,160,752.20 Products in progress 824,355,565.72 1,200,572.09 823,154,993.63 691,787,332.67 2,585,407.72 689,201,924.95 Inventory goods 4,947,343,431.77 461,079,488.54 4,486,263,943.23 4,705,831,383.28 392,347,544.73 4,313,483,838.55 Entrusted processing materials 119,066,602.96 4,222,708.85 114,843,894.11 96,062,544.50 3,335,749.88 92,726,794.62 Low-value consumables 41,425,770.37 4,517,733.31 36,908,037.06 18,116,496.22 1,512,152.69 16,604,343.53 Self-made semi-finished products 689,909,469.97 56,479,282.55 633,430,187.42 572,503,123.88 40,309,788.68 532,193,335.20 Materials in transit 194,988,295.73 0.00 194,988,295.73 175,520,223.97 0.00 175,520,223.97Total 8,679,639,841.38 651,340,706.60 8,028,299,134.78 7,739,907,444.61 550,016,231.59 7,189,891,213.02

(2) Provision for inventory depreciation and provision for impairment of contract performance costs

Unit: Yuan Increase amount in this period Decrease amount in this period

Item Beginning balance Closing balance

Provision Others Reversal or write-off Others

Raw materials 109,925,587.89 48,379,350.41 2,273,060.58 33,057,135.30 3,679,942.32 123,840,921.26 Products in progress 2,585,407.72 213,068.06 740,866.55 2,309,504.40 29,265.84 1,200,572.09 Goods in stock 392,347,544.73 260,590,622.27 21,543,435.11 211,214,212.47 2,187,901.10 461,079,488.54 Entrusted processing materials 3,335,749.88 2,143,389.58 1,253,062.83 3,367.78 4,222,708.85 Low-value consumables 1,512,152.69 3,162,964.11 154,385.39 2,998.10 4,517,733.31 Self-made semi-finished products 40,309,788.68 37,499,202.28 21,160,887.42 168,820.99 56,479,282.55Total 550,016,231.59 351,988,596.71 24,557,362.24 269,149,187.81 6,072,296.13 651,340,706.60 Note: Other increases in this period are consolidated increases, and other decreases in this period are exchange rate changes.

Provision for inventory decline in value on a group basis

Unit: Yuan Combination name End of period Beginning of period

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Ratio of provision for price decline. Closing balance of provision for decline in price. Provision for decline in price. Opening balance. Provision for decline in price.

Example: Proportional Net Realizable Value Portfolio

Raw materials 1,862,550,704.86 123,840,921.26 6.65% 1,480,086,340.09 109,925,587.89 7.43% Work in progress 824,355,565.72 1,200,572.09 0.15% 691,787,332.67 2,585,407.72 0.37% Inventory goods 4,947,343,431.77 461,079,488.54 9.32% 4,705,831,383.28 392,347,544.73 8.34% Commissioned processing materials 119,066,602.96 4,222,708.85 3.55% 96,062,544.50 3,335,749.88 3.47% Low-value consumables 41,425,770.37 4,517,733.31 10.91% 18,116,496.22 1,512,152.69 8.35% Self-made semi-finished products 689,909,469.97 56,479,282.55 8.19% 572,503,123.88 40,309,788.68 7.04% Materials in transit 194,988,295.73 0.00 0.00% 175,520,223.97 0.00 0.00%Total 8,679,639,841.38 651,340,706.60 7.50% 7,739,907,444.61 550,016,231.59 7.11%

The standard for accruing inventory depreciation provisions on a group basis:

Compare the cost of the inventory with the net realizable value, and accrue inventory depreciation reserves based on the difference between the inventory cost and the net realizable value. The net realizable value of inventory is determined by the estimated selling price of the inventory minus the costs (if necessary) required to bring the inventory to a completed and salable state, estimated sales expenses and related taxes.

10. Other current assets

Unit: Yuan

Item Ending balance Beginning balance

Cost of returns receivable 4,584,485.50 4,781,526.03 Value-added tax to be deducted 639,325,855.98 524,972,897.22 Assets to be amortized 607,880,898.76 419,244,849.61 Prepaid corporate income tax 41,320,560.22 66,379,193.63 Inventories entrusted for processing 358,265,799.15 256,343,110.91 Prepaid duties 18,723,038.85 14,508,995.41 Prepaid overseas taxes and others 16,151,771.72 16,409,369.77 Prepaid listing fees 17,175,166.81 Large-denomination certificates of deposit within one year 15,075,292.00 80,225,197.00 Total 1,701,327,702.18 1,400,040,306.39

Other instructions: none

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11. Investment in other equity instruments

Unit: Yuan Designated as fair value included in its current period, included in its current period, accumulated in this period, accumulated in this period,

Measurement recognized in the current period and its changes included in the project name Opening balance Other comprehensive income Other comprehensive income Other comprehensive income Other comprehensive income Closing balance

Dividend income, loss of original gain of other comprehensive income, gain of gain, loss of gain

Because

Zhongke Dihong (Shandong) Technology Co., Ltd. (formerly used for strategic purposes) 57,658,880.00 0.00 0.00 29,214,280.00 0.00 57,658,880.00

Name: Hefei Zhongke Dihong Automation Co., Ltd.) Long-term holding

Guangdong Jiangshun New Material Technology Co., Ltd. for strategic purposes 2,176,000.00 0.00 1,344,000.00 0.00 2,438,613.72 832,000.00

long-term holding

Hangzhou Platinum Electronics Co., Ltd. for strategic purposes 25,490,332.45 33,152,464.72 0.00 41,142,797.17 0.00 58,642,797.17

long-term holding

Developed for strategic purposes Shanghai Zhidrive Yuanshu Technology Co., Ltd. 18,110,000.00

long-term holding

Total 85,325,212.45 33,152,464.72 1,344,000.00 70,357,077.17 2,438,613.72 0.00 135,243,677.17

Disclosure of non-trading equity instrument investments in the current period by items

Unit: Yuan

Transfer-in of other comprehensive income Designated as measured at fair value and its change Name of item transferred into other comprehensive income Recognized dividend income Cumulative gain Cumulative loss

The amount of retained earnings is automatically included in other comprehensive income. The reason for retained earnings is Kedihong (Shandong) Technology Co., Ltd. (formerly used

29,214,280.00 0.00 Long-term holding for strategic purposes

Name: Hefei Zhongke Dihong Automation Co., Ltd.)

Guangdong Jiangshun New Material Technology Co., Ltd. 0.00 2,438,613.72 Long-term holding for strategic purposes

Hangzhou Puke Electronics Co., Ltd. 41,142,797.17 0.00 Long-term holding for strategic purposes

Shanghai Zhiquyuanshu Technology Co., Ltd. 0.00 0.00 Long-term holding for strategic purposes

12. Long-term equity investment

Unit: Yuan Increase or decrease in the current period

Beginning balance (book value of impairment provision at the beginning of the period) Closing balance (book value of impairment provision at the end of the period) Invested unit recognized under the equity method Other comprehensive income Other changes in equity Announcement of cash distribution

Value) Balance Additional investment Decrease in investment Impairment Others Value) Balance of investment gains and losses Adjustment Dividends or profits

Prepare

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Increases and decreases in the current period

Beginning balance (book value of impairment provision at the beginning of the period) Closing balance (book value of impairment provision at the end of the period) Invested unit recognized under the equity method Other comprehensive income Other changes in equity Announcement of cash distribution

Value) Balance Additional investment Decrease in investment Impairment Others Value) Balance of investment gains and losses Adjustment Dividends or profits

Prepare

1. Joint ventures

None

2. Joint ventures

Jiangmen Jiefuyi Magnetic Materials Co., Ltd.

48,012,997.97 1,110,429.41 49,123,427.38 Company

Huitong Small Amount, Jianghai District, Jiangmen City

26,140,092.03 0.00 26,140,092.03 Loan Co., Ltd.

Guangdong Dongmu New Materials Co., Ltd.

92,448,784.02 2,647,939.26 397,355.79 4,800,000.00 90,694,079.07 Division

Jiangmen Martin Motor Technology Co., Ltd.

6,857,605.30 1,120,926.92 720,000.00 7,258,532.22Company

Nanjing Coolco Electronic Technology Co., Ltd.

40,708,640.94 9,114,425.70 33,028.77 49,856,095.41Company

Guanghong Technology (Investment) Co., Ltd.

335,553,126.34 6,245,960.79 -11,467,747.98 -10,912,125.34 319,419,213.81Company

Ningbo Hexi Industrial Investment Partnership

98,497,665.40 -10,766,179.88 87,731,485.52 Enterprise (limited partnership)

Ningbo Jinxi Venture Capital Partnership

18,353,599.24 -3,137,482.83 15,216,116.41 Enterprise (limited partnership)

Jiaxing Chaoxi Hengyu Equity Investment

2,510,057.07 2,404,213.07 4,914,270.14 Partnership (limited partnership)

Jiaxing Chaoxihehou Equity Investment

42,079,288.07 1,203,282.20 43,282,570.27 Partnership (limited partnership)

Jiaxing Chaoxi Hongtai Equity Investment

34,531,293.94 7,288,232.54 18,278,272.93 17,513,062.44 28,008,271.89 Partnership (limited partnership)

Hunan Saibo Electronics Co., Ltd. 4,000,000.00 -29,008.65 3,970,991.35 Haining Aotong Auto Parts Co., Ltd.

73,397,885.98 -744,044.09 72,653,841.89Company

Hangzhou Bohua Xinda Technology Co., Ltd.

0.00 30,000,000.00 310.44 30,000,310.44Company

Subtotal 796,950,944.27 26,140,092.03 30,000,000.00 7,288,232.54 27,449,045.27 -11,434,719.21 397,355.79 23,033,062.44 0.00 -10,912,125.34 802,129,205.80 26,140,092.03Total 796,950,944.27 26,140,092.03 30,000,000.00 7,288,232.54 27,449,045.27 -11,434,719.21 397,355.79 23,033,062.44 0.00 -10,912,125.34 802,129,205.80 26,140,092.03

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13. Other non-current financial assets

Unit: Yuan

Item Closing balance Opening balance Financial assets at fair value through profit and loss for the current period - Cost 80,000,000.00 20,000,000.00 Financial assets at fair value through profit and loss for the current period - Changes in fair value -2,789,903.68 -1,873,383.64 Total 77,210,096.32 18,126,616.36

14. Investment real estate

(1) Investment real estate using cost measurement model

Applicable □Not applicable

Unit: Yuan

Projects Houses and buildings Land use rights Construction in progress Total

1. Original book value

1. Opening balance 448,912,707.02 14,179,674.57 463,092,381.59 2. Increase in current period 15,433,316.51 80,744.87 15,514,061.38 (1) Outsourcing

(2) Transfer of inventories\fixed assets\projects under construction

15,433,316.51 80,744.87 15,514,061.38

(3) Increase in business mergers

3. Reduction amount in this period

(1) Disposal

(2) Other transfer-out

4. Closing balance 464,346,023.53 14,260,419.44 478,606,442.97

2. Accumulated depreciation and accumulated amortization

1. Balance at the beginning of the period 181,712,559.13 6,147,679.57 187,860,238.70 2. Increase in the current period 24,389,800.37 179,297.23 24,569,097.60

(1) Provision or amortization 12,349,997.91 151,000.27 12,500,998.18 (2) Transfer of fixed assets/intangible assets 12,039,802.46 28,296.96 12,068,099.42 3. Reduction amount in the current period

(1) Disposal

(2) Other transfer-out

4. Closing balance 206,102,359.50 6,326,976.80 212,429,336.30

3. Impairment provision

1. Opening balance

2. Increase amount in this period

(1) Provision

3. Reduction amount in this period

(1) Disposal

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Projects Houses and buildings Land use rights Construction in progress Total

(2) Other transfer-out

4. Ending balance

4. Book value

1. Book value at the end of the period 258,243,664.03 7,933,442.64 266,177,106.67 2. Book value at the beginning of the period 267,200,147.89 8,031,995.00 275,232,142.89

2. Fixed assets

Unit: Yuan

Item Ending balance Beginning balance

Fixed assets 15,058,523,894.11 14,444,823,272.09 Total 15,058,523,894.11 14,444,823,272.09

(1) Fixed assets

Unit: Yuan

Items Houses and buildings Machinery and equipment Transportation equipment Electronics and other equipment Total

1. Original book value:

1. Opening balance 5,713,813,878.46 18,392,110,180.72 111,632,215.07 1,032,683,627.72 25,250,239,901.97 2. Increase in this period

626,930,482.23 1,228,207,254.62 6,298,210.43 -4,475,151.51 1,856,960,795.77Amount

(1) Purchase 92,806,585.91 5,305,717.95 21,958,834.11 120,071,137.97 (2) Transfer of projects under construction

679,709,523.30 1,238,401,047.43 17,061,071.47 1,935,171,642.20

(3) Business merger increases

34,020,873.21 1,259,378.43 2,099,788.78 37,380,040.42 plus

(4) Exchange rate conversion difference

-52,779,041.07 -137,021,251.93 -266,885.95 -45,594,845.87 -235,662,024.82

3. Reduction in this period

37,943,216.16 355,725,944.42 3,672,217.52 12,980,942.53 410,322,320.63Amount

(1) Disposal or scrapping 163,826,753.09 3,519,949.29 10,685,352.79 178,032,055.17 (2) Transfer to investment property

15,433,316.51 15,433,316.51Real estate

(3) Transfer to projects under construction

151,783,861.90 151,783,861.90

Cheng

(4) Business merger less

22,509,899.65 40,115,329.43 152,268.23 2,295,589.74 65,073,087.05

less

4. Closing balance 6,302,801,144.53 19,264,591,490.92 114,258,207.98 1,015,227,533.68 26,696,878,377.11

2. Accumulated depreciation

1. Opening balance 1,303,050,445.72 8,329,937,239.94 67,371,837.82 556,207,336.34 10,256,566,859.82 2. Increase in this period

119,846,769.59 910,242,723.77 6,864,342.00 44,430,175.73 1,081,384,011.09Amount

(1) Provision 132,279,557.29 962,392,989.72 6,976,011.29 62,722,316.95 1,164,370,875.25 (2) Exchange rate translation difference

-12,432,787.70 -52,150,265.95 -111,669.29 -18,292,141.22 -82,986,864.16

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Items Houses and buildings Machinery and equipment Transportation equipment Electronics and other equipment Total 3. Decrease in this period

17,222,940.19 191,632,028.69 3,426,306.40 11,066,192.90 223,347,468.18Amount

(1) place

118,868,969.09 3,307,101.23 9,627,908.67 131,803,978.99 Disposal or scrapping

(2) Transfer to investment property

12,039,802.46 12,039,802.46Real estate

(3) Transfer to projects under construction

40,586,894.82 40,586,894.82 Cheng

(4) Business merger less

5,183,137.73 32,176,164.78 119,205.17 1,438,284.23 38,916,791.91 less

4. Closing balance 1,405,674,275.12 9,048,547,935.02 70,809,873.42 589,571,319.17 11,114,603,402.73

3. Impairment provision

1. Opening balance 1,968,412.60 533,271,339.16 2,893,636.37 10,716,381.93 548,849,770.06 2. Increase in this period

-141,893.23 6,312,795.10 37,929.67 -453,444.88 5,755,386.66 Amount

(1) Provision 7,471,649.81 38,364.27 80,618.77 7,590,632.85 (2) Exchange rate translation difference

-141,893.23 -1,158,854.71 -434.60 -534,063.65 -1,835,246.19

3. Reduction in this period

30,411,532.38 8,749.41 433,794.66 30,854,076.45 Amount

(1) Disposal or scrapping 28,693,017.32 8,749.41 433,794.66 29,135,561.39 (2) Transfer to projects under construction

1,718,515.06 1,718,515.06 Cheng

4. Closing balance 1,826,519.37 509,172,601.88 2,922,816.63 9,829,142.39 523,751,080.27

4. Book value

1. Closing accounts

4,895,300,350.04 9,706,870,954.02 40,525,517.93 415,827,072.12 15,058,523,894.11Value

2. Opening accounts

4,408,795,020.14 9,528,901,601.62 41,366,740.88 465,759,909.45 14,444,823,272.09Value

(2) Temporarily idle fixed assets

Unit: Yuan

Item Original book value Accumulated depreciation Impairment provision Book value Remarks Machinery and equipment 1,200,909,675.29 588,862,952.02 509,172,601.88 102,874,121.39

Transportation equipment 6,976,620.05 3,650,942.97 2,922,816.63 402,860.45

Electronic and other equipment 35,047,790.70 24,813,475.15 9,829,142.39 405,173.16

Total 1,242,934,086.04 617,327,370.14 521,924,560.90 103,682,155.00

(3) Fixed assets leased through operating leases

Unit: Yuan

Item Closing book value

Houses and buildings 7,853,949.25 Transportation equipment 73,400.49

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(4) Fixed assets whose property rights certificates have not been obtained

Unit: Yuan Item Book value Reasons for not completing the property rights certificate

Houses and buildings 2,044,003,018.85 In process

(5) Impairment testing of fixed assets

Applicable □Not applicable

The recoverable amount is determined as the net amount after fair value minus disposal costs.

Applicable □Not applicable

Units: Yuan Fair Value and Disposal

Item Book value Recoverable amount Impairment amount Key parameters Key parameters are determined based on how expenses are determined.

Market transaction price Market transaction price: same and similar fair value less disposal

Machinery and equipment 8,125,950.49 654,300.68 7,471,649.81 Price, disposal fee Asset market price; disposal fee: expense method

Use market transaction price such as taxes and fees related to asset disposal Market transaction price: same and similar fair value less disposal

Transportation equipment 42,218.72 3,854.45 38,364.27 Price, disposal fee Asset market price; disposal fee: expense method

Use market transaction prices such as taxes and fees related to asset disposal Market transaction prices: same and similar electronics and others Fair value less disposal

83,527.93 2,909.16 80,618.77 Price and disposal fee Asset market price; disposal fee: equipment expense method

Total taxes and fees related to asset disposal 8,251,697.14 661,064.29 7,590,632.85

The recoverable amount is determined based on the present value of expected future cash flows.

□Applicable Not applicable

Reasons for the obvious inconsistency between the aforementioned information and the information used in impairment testing in previous years or external information

Not applicable

Reasons for the discrepancy between the information used in the company's impairment testing in previous years and the actual situation of that year.

Not applicable

Other notes:

None

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16. Projects under construction

Unit: Yuan

Item Ending balance Beginning balance

Construction in progress 3,094,836,769.63 2,859,779,949.07 Total 3,094,836,769.63 2,859,779,949.07

(1) Projects under construction

Unit: Yuan Ending balance Beginning balance

Project

Book balance Impairment provision Book value Book balance Impairment provision Book value Production line equipment 2,212,684,299.64 238,936.40 2,212,445,363.24 1,539,303,175.68 238,936.40 1,539,064,239.28 Factory building engineering 550,305,875.49 550,305,875.49 1,048,879,512.27 1,048,879,512.27 Others 332,085,530.90 332,085,530.90 271,836,197.52 271,836,197.52 Total 3,095,075,706.03 238,936.40 3,094,836,769.63 2,860,018,885.47 238,936.40 2,859,779,949.07

(2) Changes in important projects under construction during the current period

Unit: Yuanli

principal and interest its

Futures capital:

The project accrues profit in this issue

This period is transferred to fixed. Other deductions for this period include project income, project income, budget number, opening balance, increase amount for this period, ending balance, interest

Amount of assets Small amount Accounted for in budget Resource accumulation Capital

Proportion of this plan

Amount

rate

Raised funds for Dongguan Lingrui Factory Building Project 1,292,923,409.12 780,598,719.65 72,998,410.19 677,509,301.25 176,087,828.59 86.90% 86.90% Capital and self-owned funds

Recruiting senior Shenzhen Lingyi factory project 863,218,630.56 34,540,059.64 6,218,727.52 40,758,787.16 88.84% 88.84%

gold, self

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principal and interest its

Futures capital:

The project accrues profit in this issue

This period is transferred to fixed. Other deductions for this period include project income, project income, budget number, opening balance, increase amount for this period, ending balance, interest

Amount of assets Small amount Accounted for in budget Resource accumulation Capital

Proportion of this plan

Amount

rate

Have funds

Self-owned Lingyi Technology Building Project 284,433,600.00 103,058,886.46 42,941,783.97 146,000,670.43 51.33% 51.33%

Jin India charger production line construction Self-owned capital 108,365,677.24 17,458,722.18 2,526,936.56 18,872,825.24 890,362.91 222,470.59 96.26% 96.26%

Total project gold 2,548,941,316.92 935,656,387.93 124,685,858.24 696,382,126.49 890,362.91 363,069,756.77

Note: Other decreases in this period are due to exchange rate changes.

(3) Provision for impairment of projects under construction in the current period

Unit: Yuan Item Beginning balance Increase in the current period Decrease in the current period Ending balance Reason for provision

Production line equipment 238,936.40 238,936.40 The estimated recoverable amount of the asset is lower than its book value

Total 238,936.40 238,936.40 --

Other notes:

None

(4) Impairment testing of projects under construction

□Applicable Not applicable

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17. Right-of-use assets

(1) Right-of-use assets

Unit: Yuan Item Houses and buildings Machinery and equipment Transportation equipment Total

1. Original book value

1. Opening balance 2,299,087,462.66 0.00 2,299,087,462.66

2. Increased amount in this period 451,311,250.24 6,693,425.94 248,275.21 458,252,951.39 (1) New addition 408,301,550.87 6,693,425.94 251,679.89 415,246,656.70 (2) Increase in business combination 51,243,805.23 51,243,805.23 (3) Exchange rate translation difference -9,329,598.78 -3,404.68 -9,333,003.46 (4) Lease change 1,095,492.92 1,095,492.92

3. Reduction amount in the current period 381,495,648.22 381,495,648.22 (1) Lease change 97,923,460.38 97,923,460.38 (2) Lease expiration 283,572,187.84 283,572,187.84

4. Ending balance 2,368,903,064.68 6,693,425.94 248,275.21 2,375,844,765.83

2. Accumulated depreciation

1. Balance at the beginning of the period 912,388,614.85 912,388,614.85 2. Increase in the current period 191,619,992.13 273,447.40 34,482.62 191,927,922.15

(1) Provision 195,500,628.37 273,447.40 34,955.49 195,809,031.26 (2) Exchange rate translation difference -3,880,636.24 -472.87 -3,881,109.11 3. Decrease amount in the current period 303,439,161.58 303,439,161.58

(1) Disposal

(2) Lease change 19,866,973.74 19,866,973.74 (3) Lease expiration 283,572,187.84 283,572,187.84

4. Ending balance 800,569,445.40 273,447.40 34,482.62 800,877,375.42

3. Impairment provision

1. Opening balance

2. Increase amount in this period

(1) Provision

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3. Reduction amount in this period

(1) Disposal

4. Ending balance

4. Book value

1. Book value at the end of the period 1,568,333,619.28 6,419,978.54 213,792.59 1,574,967,390.41 2. Book value at the beginning of the period 1,386,698,847.81 1,386,698,847.81

(2) Impairment testing of right-of-use assets

□Applicable Not applicable

18. Intangible assets

(1) Intangible assets

Unit: Yuan

Projects Land use rights Patent rights Non-patented technology Software Customer relations Proprietary technology Others Total

1. Original book value

1. Opening balance 1,300,132,361.81 325,322,113.92 229,141,194.78 75,233,863.08 65,110,571.37 45,253,548.85 2,040,193,653.81

2. Increase in the current period -1,249,431.04 31,741,584.15 7,645,838.75 97,148,000.00 -40,356.96 135,245,634.90 (1) Purchase 4,788,824.82 4,788,824.82 (2) Internal research and development

(3) Increase in business combination 31,741,584.15 5,403,400.83 97,148,000.00 134,292,984.98 (4) Exchange rate translation difference -1,249,431.04 -2,546,386.90 -40,356.96 -3,836,174.90

3. Decrease amount in the current period 80,744.87 1,000,000.00 3,356,805.53 999,892.52 5,437,442.92 (1) Disposal 1,000,000.00 3,356,805.53 4,356,805.53 (2) transferred to investment housing

80,744.87 80,744.87 Real estate-construction in progress

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Items Land use rights Patent rights Non-patented technology Software Customer relations Proprietary technology Others Total (3) Consolidated decrease 999,892.52 999,892.52 4. Closing balance 1,298,802,185.90 356,063,698.07 233,430,228.00 172,381,863.08 65,110,571.37 44,213,299.37 2,170,001,845.79

2. Accumulated amortization

1. Opening balance 183,027,572.65 301,829,104.73 149,104,219.59 54,465,810.74 65,110,571.37 19,241,328.00 772,778,607.08 2. Increase in the current period 15,697,805.57 5,626,597.72 12,339,368.94 8,538,030.02 2,256,620.89 44,458,423.14 (1) Provision 15,697,805.57 5,626,597.72 14,485,205.88 8,538,030.02 2,296,338.85 46,643,978.04 (4) Exchange rate conversion difference -2,145,836.94 -39,717.96 -2,185,554.90 3. Decrease amount in the current period 28,296.96 1,000,000.00 3,063,520.95 984,060.52 5,075,878.43 (1) Disposal 1,000,000.00 3,063,520.95 4,063,520.95 (2) Transfer to investment properties

28,296.96 28,296.96 Real estate-construction in progress

(3) Consolidated decrease 984,060.52 984,060.52 4. Closing balance 198,697,081.26 306,455,702.45 158,380,067.58 63,003,840.76 65,110,571.37 20,513,888.37 812,161,151.79

3. Impairment provision

1. Opening balance 3,385,325.40 2,143,695.44 5,529,020.84 2. Increase in the current period

(1) Provision

3. Decrease amount in the current period 25,775.38 25,775.38 (1) Disposal 20,720.85 20,720.85 (2) Exchange rate changes 5,054.53 5,054.53 4. Ending balance 3,385,325.40 2,117,920.06 5,503,245.46

4. Book value

1. Book value at the end of the period 1,100,105,104.64 46,222,670.22 72,932,240.36 109,378,022.32 0.00 23,699,411.00 1,352,337,448.54 2. Book value at the beginning of the period 1,117,104,789.16 20,107,683.79 77,893,279.75 20,768,052.34 0.00 26,012,220.85 1,261,886,025.89 The ratio of intangible assets formed through the company’s internal research and development at the end of the period to the balance of intangible assets was 13.44%

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None

(3) Land use rights for which property rights certificates have not been obtained

None

(4) Impairment testing of intangible assets

□Applicable Not applicable

19. Goodwill

(1) Original book value of goodwill

Unit: Yuan

Increase in this period Decrease in this period

Name of the invested unit or events that formed goodwill. Beginning balance. Closing balance.

Disposal resulting from business combination

Zhejiang Xianglong business 1,364,992,933.34 1,364,992,933.34 Structural parts business 1,104,293,724.99 1,104,293,724.99 Salcomp Plc charger business 695,375,038.62 695,375,038.62 Magnetic materials business 370,993,560.30 370,993,560.30 Dongguan Jieying business 165,231,772.26 165,231,772.26 Shenzhen Zhicheng Communication Co., Ltd. 5G business 65,621,200.00 65,621,200.00 Protective film business 54,073,610.95 54,073,610.95 Jiangsu Keda business 42,036,726.19 42,036,726.19 Mianyang Weiwei Electronic Technology Co., Ltd. business 33,977,693.98 33,977,693.98 Mianyang Lingyi Communication Technology Co., Ltd. 5G business 20,456,011.66 20,456,011.66 Wenzhou Core Shell Technology Co., Ltd. business 1,336,466.59 1,336,466.59 Others 64,244.29 64,244.29 Liminda business 783,985,841.56 783,985,841.56 Total 3,918,452,983.17 783,985,841.56 4,702,438,824.73

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Unit: Yuan

Increase in this period Decrease in this period

Name of the invested unit or events that formed goodwill. Beginning balance. Closing balance.

Provision Disposal

Structural parts business 667,885,273.95 667,885,273.95 Magnetic materials business 370,993,560.30 370,993,560.30 Salcomp Plc charger business 89,827,782.72 89,827,782.72 Shenzhen Zhicheng Communications Co., Ltd. 5G business 65,621,200.00 65,621,200.00 Mianyang Lingyi Communication Technology Co., Ltd. 5G business 20,456,011.66 20,456,011.66 Total 1,214,783,828.63 1,214,783,828.63

(3) Relevant information about the asset group or asset group combination where the goodwill is located

Name The composition and basis of the asset group or portfolio it belongs to The operating segment it belongs to and its basis Whether it is consistent with previous years

The cash inflows generated by the asset group are substantially independent of the cash inflows generated by other assets or asset groups.

Zhejiang Xianglong's business automobile and low-level economy is an investment, consisting of long-term assets belonging to the asset group

The cash inflows generated by the asset group are substantially independent of the cash inflows generated by other assets or asset groups.

Structural parts business AI hardware is an investment, consisting of long-term assets belonging to the asset group

The cash inflows generated by the asset group are substantially independent of the cash inflows generated by other assets or asset groups.

Salcomp Plc Charger Business AI Hardware is an investment consisting of long-term assets belonging to the asset group

The cash inflows generated by the asset group are substantially independent of the cash inflows generated by other assets or asset groups.

Magnetic materials business AI hardware is an investment, consisting of long-term assets belonging to the asset group

The cash inflows generated by the asset group are substantially independent of the cash inflows generated by other assets or asset groups.

Dongguan Jieying Business AI Hardware Yes

Income, consisting of long-term assets belonging to the asset group

Shenzhen Zhicheng Communications Co., Ltd. 5G The cash inflows generated by this asset group are basically independent of the cash flows generated by other assets or asset groups.

Others are business income, consisting of long-term assets belonging to the asset group

The cash inflows generated by the asset group are substantially independent of the cash inflows generated by other assets or asset groups.

Protective film business AI hardware is an investment, consisting of long-term assets belonging to the asset group

The cash inflows generated by the asset group are substantially independent of the cash inflows generated by other assets or asset groups.

Jiangsu Keda Business Automobile and Low-altitude Economy Yes

Income, consisting of long-term assets belonging to the asset group

Mianyang Weiwei Electronic Technology Co., Ltd. The cash inflows generated by this asset group are basically independent of the cash inflows generated by other assets or asset groups.

Others are the company's business income, consisting of long-term assets belonging to the asset group.

Mianyang Lingyi Communication Technology Co., Ltd. The cash inflows generated by this asset group are basically independent of the cash flows generated by other assets or asset groups.

Others are 5G business income, consisting of long-term assets belonging to the asset group

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The cash inflow generated by this asset group is basically independent of the cash inflow generated by other assets or asset groups. Business of Wenzhou Core Shell Technology Co., Ltd. Automobile and Low-altitude Economy is an inflow and consists of long-term assets belonging to the asset group.

The cash inflow generated by this asset group is basically independent of the cash inflow generated by other assets or asset groups. Liminda Business AI Hardware is not applicable and consists of long-term assets belonging to the asset group.

The cash inflows generated by this asset group are substantially independent of the cash inflows generated by other assets or asset groups. Other AI hardware Yes

Income, consisting of long-term assets belonging to the asset group

Changes in asset group or asset group combination

None

(4) Specific determination method of recoverable amount

The recoverable amount is determined as the net amount after fair value minus disposal costs.

□Applicable Not applicable

The recoverable amount is determined based on the present value of expected future cash flows.

□Applicable Not applicable

Reasons for the obvious inconsistency between the aforementioned information and the information used in impairment testing in previous years or external information

Not applicable

Reasons for the discrepancy between the information used in the company's impairment testing in previous years and the actual situation of that year.

Not applicable

(5) Completion of performance commitments and corresponding impairment of goodwill

There is a performance commitment when goodwill is formed and the reporting period or the previous period of the reporting period is within the performance commitment period

□Applicable Not applicable

Other instructions: none

20. Long-term deferred expenses

Unit: Yuan

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Decoration, repair projects and others 529,039,112.62 283,719,663.34 190,776,898.85 1,477,341.63 620,504,535.48

Total 529,039,112.62 283,719,663.34 190,776,898.85 1,477,341.63 620,504,535.48

21. Deferred income tax assets/deferred income tax liabilities

(1) Deferred income tax assets without offset

Unit: Yuan Ending balance Beginning balance

Project

Deductible temporary differences Deferred income tax assets Deductible temporary differences Deferred income tax assets

Asset impairment provision 716,652,623.70 120,115,554.78 660,511,067.89 103,742,655.84 Unrealized profits from internal transactions 432,200,274.74 75,099,061.30 614,650,668.04 99,393,843.00 Deductible losses 2,900,857,312.03 587,275,611.99 2,517,021,694.10 535,419,205.62 Credit impairment provision 590,529,405.18 108,928,688.29 626,182,781.42 101,620,105.76 Deferred income 400,065,492.96 62,516,450.84 422,836,158.71 66,036,836.75 Lease liabilities 1,646,870,308.77 326,085,652.99 1,433,956,688.13 269,597,030.53 Changes in fair value of trading financial instruments 439,775.60 70,553.05 3,937,974.12 649,696.13 Others 421,207,967.64 70,842,106.35 260,465,781.01 45,351,544.91Total 7,108,823,160.62 1,350,933,679.59 6,539,562,813.42 1,221,810,918.54

(2) Deferred income tax liabilities without offset

Unit: Yuan Ending balance Beginning balance

Project

Taxable temporary differences Deferred income tax liabilities Taxable temporary differences Deferred income tax liabilities Increase in asset valuation from business combinations not under common control 620,408,703.27 105,365,412.85 534,836,183.97 97,562,991.28 Changes in fair value of other equity instrument investments 67,918,463.45 14,058,187.86 36,109,998.73 6,106,071.68 Depreciation of fixed assets 2,660,472,914.20 409,539,925.33 2,767,506,442.09 427,871,230.89 Changes in fair value of trading financial instruments 48,987,812.77 9,163,703.21 64,699,515.50 12,180,383.44 Right-of-use assets 1,574,967,390.41 314,075,347.29 1,385,318,819.14 261,710,032.45 Investment income from joint ventures 76,977,989.95 19,244,497.49 86,978,959.34 21,744,739.84

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Project

Taxable temporary differences Deferred income tax liabilities Taxable temporary differences Deferred income tax liabilities Others 18,070,239.18 4,445,689.32 12,225,299.56 3,051,780.86 Total 5,067,803,513.23 875,892,763.35 4,887,675,218.33 830,227,230.44

(3) Deferred income tax assets or liabilities presented on a net basis after offsetting

Unit: Yuan Deferred income tax assets and liabilities at the end of the period After offsetting, deferred income tax assets or liabilities

Item: Amount of offset of deferred income tax assets and liabilities at the beginning of the period Opening balance of deferred income tax assets or liabilities after offset

Offsetting amount Debt balance at the end of the period

Deferred income tax assets 568,788,753.00 782,144,926.59 489,350,973.45 732,459,945.09 Deferred income tax liabilities 568,788,753.00 307,104,010.35 489,350,973.45 340,876,256.99

(4) Details of deferred income tax assets not recognized

Unit: Yuan

Item Ending balance Beginning balance

Deductible temporary differences 1,382,912,057.18 1,453,538,686.82 Deductible losses 5,735,455,240.64 5,614,882,740.58 Total 7,118,367,297.82 7,068,421,427.40

(5) Deductible losses that have not been recognized as deferred income tax assets will expire in the following years

Unit: Yuan

Year Ending amount Beginning amount Remarks

2026 814,773,351.98 839,955,889.13

2027 1,405,009,402.77 1,434,809,671.84

2028 1,236,638,118.27 1,243,239,256.40

2029 1,131,518,931.36 1,131,518,931.36

2030 and beyond 1,147,515,436.26 965,358,991.85

Total 5,735,455,240.64 5,614,882,740.58

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At the end of each period, the Group reassesses the taxable income that each subsidiary is likely to obtain in the future based on the actual profits of each subsidiary, and accordingly recognizes deferred income tax assets arising from deductible temporary differences, resulting in changes in the deductible losses of unrecognized deferred income tax assets at the end of each period.

22. Other non-current assets

Unit: Yuan Ending balance Beginning balance

Project

Book balance Impairment provision Book value Book balance Impairment provision Book value Prepaid equipment and engineering funds 318,991,888.36 318,991,888.36 334,149,558.64 334,149,558.64 Fixed deposits and large certificates of deposit for more than one year 1,213,051,839.81 1,213,051,839.81 1,190,064,395.06 1,190,064,395.06Total 1,532,043,728.17 1,532,043,728.17 1,524,213,953.70 1,524,213,953.70

Information related to compensating assets: None

23. Assets whose ownership or use rights are restricted

Unit: End of Yuan period Beginning of period

Project

Book value Restricted type Restricted situation Book value Restricted type Restricted situation Bank acceptance bill deposit and other guarantees Bank acceptance bill deposit and other monetary funds 752,787,924.90 Pledge, property preservation 735,616,665.60 Pledge, property preservation

Security deposit, property preservation, security deposit, property preservation, bank acceptance bill pledge, notes receivable, bank acceptance bill pledge, notes receivable, notes receivable 176,043,148.89 Pledge Endorsed/Discounted, unexpired and unfinished 202,771,966.46 Pledge Endorsed/Discounted, unexpired and undeclared Derecognition

Fixed assets 614,435,066.72 Mortgage Loan mortgage guarantee 665,698,106.88 Mortgage Loan mortgage guarantee

Intangible assets 134,773,878.06 Mortgage, pledge Loan mortgage/pledge guarantee 141,299,203.33 Mortgage, pledge Borrow mortgage/pledge guarantee investment real estate 203,184,248.60 Property preservation Property preservation 211,991,265.98 Property preservation Property preservation

Other current assets 15,075,292.00 Pledge Issuance of bank acceptance bills as pledge 80,225,197.00 Pledge Issuance of bank acceptance bills as pledge Other non-current assets 10,000,000.00 Pledge Issuance of bank acceptance bills as pledge 10,000,000.00 Pledge Issuance of bank acceptance bills as pledge

Total 1,906,299,559.17 2,047,602,405.25

Note: As of June 30, 2026, 96.15% of the equity of Zhejiang Xianglong Machinery Co., Ltd., 60% of the equity of Jiangsu Keda Stern Automotive Technology Co., Ltd., and 35% of the equity of Dongguan Liminda Electronic Technology Co., Ltd. held by the Group have been pledged for bank loans.

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24. Short-term borrowing

(1) Classification of short-term loans

Unit: Yuan

Item Ending balance Beginning balance

Mortgage loan 30,000,000.00 Guaranteed loan 2,344,312,259.56 2,047,145,991.97 Credit loan 25,000,000.00 35,000,000.00 Bill discount 3,626,287,671.62 2,374,199,080.29 Pledge and guaranteed loan 129,000,000.00 45,000,000.00 Pledge and guaranteed loan 150,000,000.00

Undue interest 3,968,507.49 214,958.67 Total 6,278,568,438.67 4,531,560,030.93 Description of short-term loan classification:

Note 1: The guaranteed loan at the end of the period is guaranteed by the company and its subsidiaries.

Note 2: The mortgage plus guaranteed loan at the end of the period is pledged by the fixed assets and intangible assets of the subsidiary, and is guaranteed by the company and the subsidiary.

Note 3: The pledged and guaranteed loan at the end of the period is pledged by the patent of the subsidiary, and is guaranteed by the company.

25. Notes payable

Unit: Yuan

Category Ending balance Beginning balance

Bank acceptance bill 1,199,458,151.35 1,611,216,404.47 Total 1,199,458,151.35 1,611,216,404.47 The total amount of bills payable that has expired and not been paid at the end of this period is RMB 0.00.

26. Accounts payable

(1) Presentation of accounts payable

Unit: Yuan

Item Ending balance Beginning balance

Payables for materials 8,370,350,439.33 9,427,731,680.38 Payables for equipment and projects 1,848,329,216.89 1,737,552,524.06 Processing fees payable 760,455,866.22 1,066,311,087.65 Others 136,193,454.31 260,472,505.83 Total 11,115,328,976.75 12,492,067,797.92

(2) Disclosure based on aging

Aging Closing balance Opening balance

Within 1 year (including 1 year) 10,782,555,921.09 12,245,906,260.90 1 to 2 years 249,386,821.96 150,598,642.85 2 to 3 years 45,521,738.57 26,862,340.34

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Aging Closing balance Opening balance

More than 3 years 37,864,495.13 68,700,553.83 Total 11,115,328,976.75 12,492,067,797.92

27. Other payables

Unit: Yuan

Item Ending balance Beginning balance

Dividends payable 6,351,916.78 6,351,916.78 Other payables 998,974,038.53 1,169,465,299.44 Total 1,005,325,955.31 1,175,817,216.22

(1) Dividends payable

Unit: Yuan

Item Ending balance Beginning balance

Ordinary stock dividends 6,351,916.78 6,351,916.78 Total 6,351,916.78 6,351,916.78 Other instructions, including important dividends payable that have not been paid for more than 1 year, the reason for non-payment should be disclosed: Not applicable

(2) Other payables

1. List other payables according to the nature of the payment

Unit: Yuan

Item Ending balance Beginning balance

Equity acquisition amount 0.00 115,384,000.00 Accrued expenses 592,496,506.05 549,768,213.45 Equity incentive and employee stock ownership plan 179,111,560.52 189,092,949.60 Withholding individual tax on exercise of stock ownership plan 0.00 93,394,550.56 Government subsidies and fund occupation fees to be returned 188,271,811.51 185,891,537.54 Current funds 7,680,920.13 8,744,275.96 Deposit 29,896,484.10 26,313,114.96 Transactions between related entities within the non-consolidated scope 1,516,756.22 6,529.82 Others 0.00 870,127.55 Total 998,974,038.53 1,169,465,299.44

2. Important other payables aged more than 1 year or overdue

None

28. Advance payments

(1) Presentation of advance receipts

Unit: Yuan

Item Ending balance Beginning balance

Rent received in advance 188,082.71 573,527.77

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Item Ending balance Beginning balance

Total 188,082.71 573,527.77

29. Contract liabilities

Unit: Yuan

Item Ending balance Beginning balance

Advance payment 49,918,044.81 92,664,384.28 Total 49,918,044.81 92,664,384.28

30. Payable to employees’ salaries

(1) Presentation of employee benefits payable

Unit: Yuan

Item Opening balance Increase in the current period Decrease in the current period Ending balance

1. Short-term salary 515,662,637.87 5,145,335,981.32 5,204,443,265.95 456,555,353.24

2. Post-employment benefits - defined contribution plan 13,882,918.81 399,598,983.68 400,983,848.18 12,498,054.31

3. Dismissal benefits 56,950,040.05 41,887,081.33 57,533,560.23 41,303,561.15 Total 586,495,596.73 5,586,822,046.33 5,662,960,674.36 510,356,968.70

(2) Presentation of short-term remuneration

Unit: Yuan

Item Opening balance Increase in the current period Decrease in the current period Ending balance

1. Salaries, bonuses, allowances and subsidies 500,905,339.27 4,694,589,706.06 4,755,602,354.92 439,892,690.41

2. Employee welfare fees 623,190.47 209,693,562.70 208,164,476.12 2,152,277.05

3. Social insurance premiums 3,273,716.42 160,227,605.93 159,622,960.93 3,878,361.42 Including: medical insurance premiums 3,196,137.47 139,191,391.17 138,891,085.05 3,496,443.59 Work-related injury insurance premium 77,578.95 15,289,257.22 14,984,918.34 381,917.83

Maternity insurance premium 5,746,957.54 5,746,957.54

4. Housing provident fund 211,540.88 70,179,952.53 69,676,159.05 715,334.36

5. Trade union funds and employee education funds 10,648,850.83 10,645,154.10 11,377,314.93 9,916,690.00 Total 515,662,637.87 5,145,335,981.32 5,204,443,265.95 456,555,353.24

(3) Display of defined contribution plan

Unit: Yuan

Item Opening balance Increase in the current period Decrease in the current period Ending balance

1. Basic pension insurance 11,029,528.09 379,942,326.16 379,299,382.81 11,672,471.44

2. Unemployment insurance premium 831,315.20 19,097,345.08 19,249,333.34 679,326.94

3. Others 2,022,075.52 559,312.44 2,435,132.03 146,255.93Total 13,882,918.81 399,598,983.68 400,983,848.18 12,498,054.31

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31. Taxes payable

Unit: Yuan

Item Ending balance Beginning balance

Value-added tax 205,193,824.24 143,619,290.80 Corporate income tax 303,108,009.55 373,596,861.04 Personal income tax 16,633,474.14 28,610,139.61 Urban maintenance and construction tax 5,760,864.14 25,189,312.02 Overseas indirect tax 39,872,114.97 66,845,260.24 Education surcharge (including local) 5,637,952.91 23,422,802.18 Real estate tax 16,687,738.31 12,216,967.52 Land use tax 3,052,048.46 2,009,283.04 Others 14,401,658.87 14,530,020.56 Total 610,347,685.59 690,039,937.01

32. Non-current liabilities due within one year

Unit: Yuan

Item Ending balance Beginning balance

Long-term borrowings due within one year 3,807,433,782.48 4,510,995,067.88 Long-term payables due within one year 7,670,454.13

Lease liabilities due within one year 488,279,024.14 385,133,445.66 Other non-current liabilities due within one year 233,844,040.11 224,006,065.62 Total 4,537,227,300.86 5,120,134,579.16

33. Other current liabilities

Unit: Yuan

Item Ending balance Beginning balance

Returns payable 5,976,291.07 7,324,585.18 Estimated liabilities 19,241,543.04 18,977,543.58 Output tax to be written off 1,045,009.19 728,548.01 Payment for entrusted processing materials 378,071,287.40 156,912,979.47 Total 404,334,130.70 183,943,656.24

34. Long-term borrowing

(1) Classification of long-term loans

Unit: Yuan

Item Ending balance Beginning balance

Guaranteed loan 6,146,193,325.27 6,747,344,195.97 Credit loan 9,900,000.00 Pledge plus guaranteed loan 1,805,483,550.00 1,021,000,000.00 Pledge plus guaranteed loan 928,189,332.00 1,025,369,762.00 Undue interest payable 5,489,624.88 6,864,282.75 Less: Long-term borrowings due within one year -3,807,433,782.48 -4,510,995,067.88

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Item Ending balance Beginning balance

Total 5,077,922,049.67 4,299,483,172.84 Description of long-term loan classification:

Note 1: The guaranteed loans at the end of the period are loans obtained with guarantees provided by the company and its subsidiaries.

Note 2: The pledged and guaranteed loans at the end of the period are pledged by the equity of the company and its subsidiaries, and guaranteed by the company and its subsidiaries.

Note 3: The mortgaged and guaranteed loans at the end of the period are pledged by the fixed assets and intangible assets of the company and its subsidiaries, and are guaranteed by the company and its subsidiaries.

35. Lease liabilities

Unit: Yuan

Item Ending balance Beginning balance

Lease liabilities 1,755,686,825.19 1,502,074,985.10 Less: Lease liabilities due within one year -488,279,024.14 -385,133,445.66 Total 1,267,407,801.05 1,116,941,539.44

36. Long-term payables

Unit: Yuan

Item Ending balance Beginning balance

Long-term payables 6,567,033.63

Total 6,567,033.63

(1) List long-term payables according to the nature of the payment

Unit: Yuan

Item Ending balance Beginning balance

Long-term payables 15,259,729.69

Long-term payables - unrecognized financing costs -1,022,241.93

Subtotal 14,237,487.76

Less: Long-term payable within one year -7,670,454.13

Total 6,567,033.63

37. Long-term employee compensation payable

(1) Long-term employee salary payable table

Unit: Yuan

Item Ending balance Beginning balance

1. Post-employment benefits-net liabilities of defined benefit plan 27,357,209.67 25,323,240.67

2. Other long-term benefits 11,489,655.87 11,489,655.87 Total 38,846,865.54 36,812,896.54

3. Deferred income

Unit: Yuan Item Beginning balance Increase in the current period Decrease in the current period Ending balance Reasons for formation

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Item Opening balance Increase in the current period Decrease in the current period Ending balance Reason for formation

Asset-related government subsidies 601,825,135.50 50,197,323.10 68,551,255.34 583,471,203.26

Government project subsidies

Government subsidies related to income 25,756,757.52 78,902.10 25,191,757.52 643,902.10

Total government project subsidies 627,581,893.02 50,276,225.20 93,743,012.86 584,115,105.36

Other instructions: none

39. Other non-current liabilities

Unit: Yuan

Item Ending balance Beginning balance

Minority equity acquisition payment 93,145,135.94 91,531,607.47 Long-term equity payment payable 304,587,759.98 544,762,242.92 Total 397,732,895.92 636,293,850.39

40. Share capital

Unit: Yuan Increase or decrease in this change (+, -)

Balance at the beginning of the period Provident Fund Balance at the end of the period Issuance of new shares Bonus shares Option exercise Subtotal

Share transfer

Total number of shares 1,830,828,680.30 203,440,057.13 535,708.38 203,975,765.51 2,034,804,445.81Other instructions:

The above changes in share capital are reverse mergers and revert to changes in the share capital of Lingyi Technology (Shenzhen) Co., Ltd. The changes in the actual shares issued by the listed company are detailed in the table below:

This change increases or decreases (+, -)

Item Beginning balance Closing balance

Issuance of new shares Buyback and cancellation Option exercise Subtotal

Total number of shares 7,306,060,977.00 811,811,880.00 2,137,703.00 813,949,583.00 8,120,010,560.00

41. Capital reserve

Unit: Yuan

Item Opening balance Increase in the current period Decrease in the current period Ending balance Capital premium (equity premium) 10,721,244,540.15 6,908,239,881.83 17,629,484,421.98 Other capital reserves 708,510,755.89 192,051,537.54 1,433,554.31 899,128,739.12 Total 11,429,755,296.04 7,100,291,419.37 1,433,554.31 18,528,613,161.10 Other explanations, including changes in increases and decreases in the current period and explanations of reasons for changes:

1. The company issued H shares and was listed on the main board of the Stock Exchange of Hong Kong Limited in this period and restored the reverse merger share capital. The total capital reserve (equity premium) increased by 6,899,328,959.70 yuan;

2. The company's 2024 stock option incentive plan granted stock options for the first time in the first exercise period this year and reversely restored the merger and acquisition of share capital. The total capital reserve (equity premium) increased by 8,910,922.13 yuan;

3. Equity incentive expenses this year were RMB 192,196,222.33, other capital reserves increased by RMB 191,654,181.75, and the rest were included in minority shareholders' equity;

4. Lingyi Intelligent Manufacturing’s long-term equity investment in Guangdong Dongmu was adjusted, and the company’s other capital reserves increased accordingly by RMB 397,355.79;

5. The income tax impact caused by the difference between the pre-tax deductible amount of share-based payment this year and the costs and expenses related to share-based payment reduces other capital reserves.

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26,996.40 yuan;

6. After the acquisition of Liminda in this period, due to the increase in capital by minority shareholders, other capital reserves decreased by RMB 644,127.72;

7. With the acquisition of Ningbo Longjun in this period, other capital reserves decreased by RMB 762,430.19.

8. Treasury stocks

Unit: Yuan

Item Opening balance Increase in the current period Decrease in the current period Ending balance Equity incentive and employee stock ownership plan 405,112,535.77 311,197,847.88 888,418.48 715,421,965.17 Total 405,112,535.77 311,197,847.88 888,418.48 715,421,965.17 Other explanations, including changes in increases and decreases in the current period and explanation of reasons for changes:

1. In this period, the company repurchased 22,199,300 shares of the company through centralized bidding transactions through a special repurchase securities account, accounting for 0.30% of the company's total share capital. The highest transaction price was 14.43 yuan/share, the lowest transaction price was 13.68 yuan/share, and the transaction amount was 311,132,511.58 yuan (excluding transaction fees), including transaction fees.

311,197,847.88 yuan;

2. The decrease in treasury capital during the period was due to the current dividend distribution during the reporting period.

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43. Other comprehensive income

Unit: Yuan Amount incurred in the current period

Less: Included in the previous period Less: Included in the previous period

Item Opening balance before income tax for the current period Less: income tax After-tax attributable to parent After-tax attributable to Closing balance Other comprehensive income Other comprehensive income for the current period

Amount incurred Expenses Company Minority shareholders

Transfer to profit and loss for the current period Transfer to retained earnings

1. Other comprehensive income that cannot be reclassified into profit and loss 19,459,264.44 33,239,765.97 8,149,595.73 25,090,170.24 44,549,434.68 Among them: Changes in remeasurement of defined benefit plans -10,544,662.61 1,431,301.25 197,479.55 1,233,821.70 -9,310,840.91 Changes in fair value of other equity instrument investments 30,003,927.05 31,808,464.72 7,952,116.18 23,856,348.54 53,860,275.59

2. Other comprehensive income that will be reclassified into profit and loss -263,061,262.30 -155,379,258.69 2,080,481.66 -157,212,264.58 -247,475.77 -420,273,526.88 Among them: other comprehensive income that can be converted into profit and loss under the equity method -13,718,287.32 -11,434,719.21 -11,434,719.21 -25,153,006.53 Translation difference of foreign currency financial statements -249,342,974.98 -143,944,539.48 2,080,481.66 -145,777,545.37 -247,475.77 -395,120,520.35 Total other comprehensive income -243,601,997.86 -122,139,492.72 2,080,481.66 8,149,595.73 -132,122,094.34 -247,475.77 -375,724,092.20

3. Surplus reserve

Unit: Yuan

Item Opening balance Increase in the current period Decrease in the current period Ending balance

Statutory surplus reserve 987,000,000.00 987,000,000.00 Total 987,000,000.00 987,000,000.00

45. Undistributed profits

Unit: Yuan

Projects in this issue Previous issue

Undistributed profits at the end of the previous period before adjustment 10,441,272,317.12 8,533,285,964.93 Total undistributed profits at the beginning of the adjustment period (increase +, decrease -) -94,228,472.66 Undistributed profits at the beginning after adjustment 10,441,272,317.12 8,439,057,492.27 plus: Net profit attributable to owners of the parent company for the current period 763,630,227.88 2,287,723,584.28

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Common stock dividends payable 145,483,349.60 285,520,137.92 Plus: Others (Note 1) 11,378.49 Undistributed profits at the end of the period 11,059,419,195.40 10,441,272,317.12 Other notes:

Note 1: Others in the previous year were the exercise of the third phase of the 2022 Employee Stock Ownership Plan, of which 52,800 shares did not meet the exercise conditions, and the corresponding undistributed profits corresponding to the dividends from previous years were reversed and included in the current period.

46. Operating income and operating costs

Unit: Yuan Amount of current period Amount of previous period

Project

revenue cost revenue cost

Main business 24,267,321,501.78 20,395,193,534.77 23,180,278,788.35 19,801,038,973.49 Other businesses 881,812,177.59 547,474,527.23 445,006,590.84 261,688,380.88 Total 25,149,133,679.37 20,942,668,062.00 23,625,285,379.19 20,062,727,354.37 Decomposition information of operating income and operating costs:

Unit: Yuan AI Hardware Automobile and Low-altitude Economy Others Total

Contract classification

Operating income Operating cost Operating income Operating cost Operating income Operating cost Operating income Operating cost classified by operating region 20,463,843,050.36 16,888,160,635.87 3,527,792,857.90 3,030,915,273.96 1,141,042,872.41 1,015,783,345.64 25,132,678,780.67 20,934,859,255.47

Among them:

Domestic sales 4,811,597,039.63 4,169,724,275.82 3,121,740,823.44 2,725,698,860.36 104,723,295.85 77,009,787.06 8,038,061,158.92 6,972,432,923.24 Overseas sales 15,652,246,010.73 12,718,436,360.05 406,052,034.46 305,216,413.60 1,036,319,576.56 938,773,558.58 17,094,617,621.75 13,962,426,332.23 According to the time of transfer of goods

20,463,843,050.36 16,888,160,635.87 3,527,792,857.90 3,030,915,273.96 1,141,042,872.41 1,015,783,345.64 25,132,678,780.67 20,934,859,255.47 categories

Among them:

Transferred at a certain point in time 20,463,843,050.36 16,888,160,635.87 3,527,792,857.90 3,030,915,273.96 1,141,042,872.41 1,015,783,345.64 25,132,678,780.67 20,934,859,255.47 Total 20,463,843,050.36 16,888,160,635.87 3,527,792,857.90 3,030,915,273.96 1,141,042,872.41 1,015,783,345.64 25,132,678,780.67 20,934,859,255.47

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47. Taxes and surcharges

Unit: Yuan

Item Amount for the current period Amount for the previous period

Urban maintenance and construction tax 27,288,069.68 27,611,716.21 Education surcharge 13,612,376.08 13,740,524.16 Property tax 23,360,622.47 18,475,723.88 Land use tax 4,569,421.18 3,582,873.23 Stamp duty 21,685,556.67 14,563,641.32 Local education surcharge 9,749,394.64 9,160,349.47 Others 2,014,391.73 6,213,016.99 Total 102,279,832.45 93,347,845.26

48. Management expenses

Unit: Yuan

Item Amount for the current period Amount for the previous period

Employee compensation 728,335,803.53 508,693,368.94 Depreciation and amortization expenses 162,062,957.47 164,118,488.26 Service fees 58,506,110.66 49,245,587.06 Office expenses 62,177,008.53 50,454,598.83 Material consumption 7,426,856.05 4,513,584.88 Travel expenses 12,565,746.30 5,859,197.80 Maintenance and inspection fees 6,671,425.46 4,771,676.31 Business expenses 7,672,208.32 2,943,171.52 Other expenses 27,456,041.73 19,478,374.04 Total 1,072,874,158.05 810,078,047.64

49. Sales expenses

Unit: Yuan

Item Amount for the current period Amount for the previous period

Employee compensation 196,469,504.68 150,125,304.82 Material consumption 1,055,646.93 1,441,155.98 Business expenses 23,964,878.12 18,016,951.48 Travel expenses 9,947,364.47 8,149,025.99 Depreciation and amortization expenses 2,599,555.47 1,520,908.21 Office expenses 3,272,701.65 2,017,899.47 Other expenses 19,944,019.40 9,060,453.33 Total 257,253,670.72 190,331,699.28

50. Research and development expenses

Unit: Yuan

Item Amount for the current period Amount for the previous period

Employee compensation 802,956,078.48 624,043,096.70 Material consumption 556,582,962.09 436,335,547.07 Depreciation and amortization expenses 34,810,833.29 36,834,010.86 Power expenses 8,345,878.91 8,172,643.62 Office expenses 6,841,661.33 5,908,545.82

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Item Amount for the current period Amount for the previous period

Maintenance and inspection fees 9,616,305.58 5,450,705.76 Vehicle expenses 6,880,610.95 4,319,391.00 Other expenses 15,635,771.41 6,469,790.65 Total 1,441,670,102.04 1,127,533,731.48

51. Financial expenses

Unit: Yuan

Item Amount for the current period Amount for the previous period

Interest expense 198,184,602.79 174,370,895.79 Less: Interest income 51,045,077.75 40,354,209.09 Exchange gains and losses 466,445,960.35 -23,722,167.29 Handling fees and others 6,365,303.08 3,177,209.82 Total 619,950,788.47 113,471,729.23

52. Other income

Unit: Yuan

Sources of other income Amount incurred in the current period Amount incurred in the previous period

1. Amortization of government subsidies related to assets 62,293,945.80 83,385,603.11

2. Amortization of government subsidies related to income 2,184,384.48 2,910,181.89

3. Compensation for costs and expenses incurred related to income

110,292,208.82 48,580,695.20 or losses and others

Total 174,770,539.10 134,876,480.20

53. Gains from changes in fair value

Unit: Yuan

Sources of income from changes in fair value Amount incurred in the current period Amount incurred in the previous period

Trading financial assets 73,000,822.87 135,185,136.33 Including: fair value generated by derivative financial instruments

60,860,427.91 127,913,049.14 Income from changes in value

Changes in fair value of other non-current financial assets -916,520.04 -55,392,442.38 Others 5,962,337.09 Total 72,084,302.83 85,755,031.04

54. Investment income

Unit: Yuan

Item Amount for the current period Amount for the previous period

Income from long-term equity investments accounted for using the equity method 27,449,045.27 30,118,200.08 Investment income from disposal of long-term equity investments 2,790,942.16

Investment income from disposal of trading financial assets 197,436,283.45 -168,907.16 Others 13,515,367.92 21,831,212.38 Total 241,191,638.80 51,780,505.30

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55. Credit impairment losses

Unit: Yuan

Item Amount for the current period Amount for the previous period

Bad debt losses on notes receivable -4,562,539.68 -206,440.12 Bad debt losses on accounts receivable 93,746,417.27 17,024,800.44 Bad debt losses on other receivables -20,243,783.37 96,888,710.42 Total 68,940,094.22 113,707,070.74

56. Asset impairment losses

Unit: Yuan

Item Amount for the current period Amount for the previous period

1. Inventory depreciation losses and contract performance cost deductions

-351,988,596.71 -368,055,675.76 value loss

4. Impairment losses on fixed assets -7,590,632.85 -53,664,417.85

5. Impairment losses on projects under construction -4,501,093.73

6. Impairment losses on intangible assets -61,551.16

11. Impairment loss of contract assets -82,100.84

Total -359,661,330.40 -426,282,738.50

57. Income from asset disposal

Unit: Yuan

Source of asset disposal income Amount incurred in the current period Amount incurred in the previous period

Loss on disposal of construction in progress -3,079,646.02 -5,772,818.77 Loss or gain on disposal of fixed assets 1,647,742.54 2,914,723.73 Gain on disposal of intangible assets 5,500.04 Lease change 3,669,451.23 37,704,852.31 Total 2,237,547.75 34,852,257.31

58. Non-operating income

Unit: Yuan Financial items included in non-recurring gains and losses for the current period Amount incurred in the current period Amount incurred in the previous period

Um

Penalty income 459,426.91 583,551.30 459,426.91 Claims and liquidated damages, etc. 1,148,705.98 1,884,015.64 1,148,705.98 Amounts that do not need to be paid 3,056,231.34 1,696,428.03 3,056,231.34 Others 919,910.01 438,303.20 919,910.01 Total 5,584,274.24 4,602,298.17 5,584,274.24

59. Non-operating expenses

Unit: Yuan Financial items included in non-recurring gains and losses for the current period Amount incurred in the current period Amount incurred in the previous period

Um

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Gold items included in non-recurring profits and losses for the current period Amount incurred in the current period Amount incurred in the previous period

Um

External donations 10,633.50 100,000.00 10,633.50 Loss from loss 65,638.39 68,397.78 65,638.39 Loss from damage and scrapping of non-current assets 5,391,011.65 2,585,446.10 5,391,011.65 Fines and liquidated damages, etc. 10,241,655.48 610,203.01 10,241,655.48 Others 2,665,404.27 312,957.21 2,665,404.27 Total 18,374,343.29 3,677,004.10 18,374,343.29

60. Income tax expenses

(1) Income tax expense schedule

Unit: Yuan

Item Amount for the current period Amount for the previous period

Current income tax expense 220,128,854.39 219,250,893.26 Deferred income tax expense -97,957,102.67 61,811,361.41 Total 122,171,751.72 281,062,254.67

(2) Adjustment process of accounting profits and income tax expenses

Unit: Yuan

Item Amount incurred in this period

Total profit 899,209,788.89 Income tax expense calculated according to statutory/applicable tax rates 224,802,447.22 Impact of different tax rates applicable to subsidiaries -125,648,662.07 Impact of adjusting income tax in previous periods 7,855,276.73 Impact of non-taxable income 0.00 Impact of non-deductible costs, expenses and losses 44,439,022.96 Effect of using deductible losses that have not been recognized in the previous period of deferred income tax assets -28,649,505.25 Deductible temporary differences or deductible losses that have not been recognized in the current period with deferred income tax assets

119,354,257.57 Impact of loss

R&D super deduction and others -119,981,085.44 Income tax expense 122,171,751.72

61. Other comprehensive income

Please see Note 43, other comprehensive income for details.

62. Cash flow statement items

(1) Cash related to operating activities

Other cash received related to operating activities

Unit: Yuan

Item Amount for the current period Amount for the previous period

Government subsidies 129,157,272.13 52,002,511.94

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Item Amount for the current period Amount for the previous period

Interest income 51,045,077.75 39,852,884.39 Current accounts 2,678,037.38 101,493,049.72 Others 12,184,659.69 284,927.79 Total 195,065,046.95 193,633,373.84

Other cash paid related to operating activities

Unit: Yuan

Item Amount for the current period Amount for the previous period

Operating expenses paid 290,433,270.97 196,181,354.58 Security deposit paid for operating activities 28,300,626.42 11,218,106.93 Bank fees and others 4,626,752.74 2,403,890.35 Others 10,241,655.48 35,651,910.09Total 333,602,305.61 245,455,261.95

(2) Cash related to investing activities

Other cash received related to investing activities

Unit: Yuan

Item Amount for the current period Amount for the previous period

Recovery of financial management funds 2,140,162,222.12 77,634,140.37 Derivative financial instruments 242,392,788.65 0.00 Gambling funds received 13,115,965.37 0.00 Total 2,395,670,976.14 77,634,140.37

Other cash paid related to investing activities

Unit: Yuan

Item Amount for the current period Amount for the previous period

Financial management funds and time deposit certificates paid 2,821,441,166.66 1,656,876,172.12 Cash paid to dispose of subsidiaries 1,276,171.13 0.00 Derivative financial instruments 0.00 6,726,180.12 Total 2,822,717,337.79 1,663,602,352.24

(3) Cash related to financing activities

Other cash received related to financing activities

Unit: Yuan

Item Amount for the current period Amount for the previous period

Equity incentive exercise payment 9,448,647.26 0.00 Fund-raising deposit recovered 0.00 170,000,000.00 Total 9,448,647.26 170,000,000.00

Other cash payments related to financing activities

Unit: Yuan

Item Amount for the current period Amount for the previous period

Repurchase shares 311,197,847.88 319,979,159.13 Repay lease liabilities 166,808,725.12 159,541,347.05 Pay personal income tax and others 102,805,690.29 0.00 Pay financing deposit 92,990,101.32 72,944,397.28 Listing agency fees paid 11,038,615.58 0.00 Acquisition of minority shareholders’ interests 1,440,092.16 0.00

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Item Amount for the current period Amount for the previous period

Repayment of related party loans 0.00 29,500,000.00 Return of investment from minority shareholders 0.00 2,549,999.90 Cash consideration paid for business combination under common control 0.00 28,800,000.00 Others 0.00 7,899,739.30 Total 686,281,072.35 621,214,642.66

Changes in various liabilities arising from financing activities

Applicable □Not applicable

Unit: Yuan

Increase in this period Decrease in this period

Item Beginning balance Closing balance

Cash changes Non-cash changes Cash changes Non-cash changes

Short-term borrowings 4,531,560,030.93 5,859,369,577.51 169,062,057.06 4,281,423,226.83 0.00 6,278,568,438.67 Long-term borrowings (including one

Long-term loans due within the year 8,810,478,240.72 2,441,534,271.76 106,032,572.98 2,472,689,253.31 0.00 8,885,355,832.15 loans)

Lease liabilities (including one

Lease due within the year 1,502,074,985.10 0.00 420,420,565.21 166,808,725.12 0.00 1,755,686,825.19 Liabilities)

Dividends payable 6,351,916.78 0.00 151,535,349.60 150,324,949.60 1,210,400.00 6,351,916.78 Long-term payables 0.00 0.00 18,000,806.41 3,763,318.65 0.00 14,237,487.76 Other payables 282,487,500.16 0.00 0.00 102,775,701.03 600,238.61 179,111,560.52 Total 15,132,952,673.69 8,300,903,849.27 865,051,351.26 7,177,785,174.54 1,810,638.61 17,119,312,061.07

(4) Explanation on presenting cash flow in net amount

Item Relevant facts and circumstances Basis for net presentation Financial impact

Other receipts/payments and business activities Other collections, payments and transactions in other transactions

The amount is large, the cycle is short, and the turnover is fast. It has no impact on the net cash flow from operating activities and related cash payments.

Other financing activities received/paid

Bill margin is large in amount, short in cycle, and fast in turnover. It has no impact on the net cash flow of financing activities and affects the relevant cash.

Other investment activities received/paid

Wealth management products within three months have large amounts, short cycles, and fast turnover. They have no impact on the net cash flow of investment activities and affect the relevant cash.

Sales of goods and provision of services received

Cash/purchase of goods, acceptance of services, raw materials purchased on behalf of customers, cash received or paid on behalf of customers, cash paid for services that has no impact on net cash flow from operating activities

(5) Major activities and financial impacts that do not involve current cash receipts and payments but affect the company's financial status or may affect the company's cash flow in the future

None

63. Supplementary information for cash flow statement

(1) Supplementary information for cash flow statement

Unit: Yuan

Supplementary information Amount for the current period Amount for the previous period 1. Reconcile net profit to cash flow from operating activities:

Net profit 777,038,037.17 942,346,617.42

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Supplementary information Amount for the current period Add to the amount for the previous period: asset impairment provision 290,721,236.18 312,575,667.76 Depreciation of fixed assets, depreciation of oil and gas assets, depreciation of productive biological assets 1,176,720,873.16 912,870,992.12 Depreciation of right-of-use assets 195,809,031.26 152,324,315.95 Amortization of intangible assets 46,794,978.31 49,551,838.14 Amortization of long-term prepaid expenses 190,776,898.85 185,503,847.78 Loss on disposal of fixed assets, intangible assets and other long-term assets (income is represented by "-"

-2,237,547.75 -34,852,257.31 (Fill in the numbers)

Losses from scrapping of fixed assets (income is listed with "-") 4,741,965.01 2,585,446.10 Loss from changes in fair value (income is listed with "-") -72,084,302.83 -85,755,031.04 Financial expenses (income is listed with "-") 301,124,098.16 140,635,184.60 Investment losses (income is shown with "-") -241,191,638.80 -51,780,505.30 Decrease in deferred income tax assets (increase is shown with "-") -37,876,494.18 86,159,405.24 Increase in deferred income tax liabilities (decrease is shown with "-") -60,080,608.49 -13,478,244.22 Decrease in inventory (increases are indicated by "-") -1,066,529,719.44 -519,716,968.89 Decrease in operating receivables (increases are indicated by "-") 1,958,521,161.00 181,768,290.84 Increase in operating payables (decreases are listed with "-") -1,944,525,095.63 -730,733,075.28 Others 192,196,222.33 143,162,285.49 Net cash flow generated from operating activities 1,709,919,094.31 1,673,167,809.40 2． Major investing and financing activities that do not involve cash receipts and payments:

Debt converted to capital 0.00

Convertible corporate bonds due within one year 0.00

Financing leased fixed assets 415,246,656.70

3. Net changes in cash and cash equivalents:

Closing balance of cash 10,690,263,131.73 4,802,710,553.45 Less: Opening balance of cash 5,447,510,912.86 6,038,980,458.32 Add: Closing balance of cash equivalents

Less: Opening balance of cash equivalents

Net increase in cash and cash equivalents 5,242,752,218.87 -1,236,269,904.87

(2) Net cash paid in the current period to acquire subsidiaries

Unit: Yuan

Amount

Cash or cash equivalents paid in the current period for the business merger that occurred during the current period 875,000,000.00, of which:

Dongguan Liminda Electronic Technology Co., Ltd. and related companies 875,000,000.00 minus: Cash and cash equivalents held by the company on the date of purchase 48,788,478.84 of which:

Dongguan Liminda Electronic Technology Co., Ltd. and related companies 48,788,478.84 plus: cash or cash paid in the current period for business mergers that occurred in previous periods

353,364,160.00 price

Among them:

Zhejiang Xianglong Machinery Co., Ltd. and its subsidiaries 353,364,160.00

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Amount

Net cash paid to acquire subsidiaries 1,179,575,681.16

(3) Net cash received from disposal of subsidiaries in the current period

Unit: Yuan

Amount

Cash or cash equivalents received from disposal of subsidiaries in the current period 0.00 Among them:

STEELMAG INTERNATIONAL SAS 0.00 minus: Cash and cash equivalents held by the company on the date of loss of control 1,276,171.13 of which:

STEELMAG INTERNATIONAL SAS 1,276,171.13 of which:

Net cash received from disposal of subsidiaries -1,276,171.13

(4) Composition of cash and cash equivalents

Unit: Yuan

Item Ending balance Beginning balance

1. Cash 10,690,263,131.73 5,447,510,912.86 Including: Cash on hand 296,831.03 41.26 Bank deposits that can be used for payment at any time 10,689,966,300.70 5,446,689,037.44

Other monetary funds available for payment at any time 821,834.16

3. Balance of cash and cash equivalents at the end of the period 10,690,263,131.73 5,447,510,912.86

(5) Situations where the scope of use is limited but still represents cash and cash equivalents

None

(6) Monetary funds that are not cash and cash equivalents

Unit: Yuan Items that are not cash and cash equivalents Amount for the current period Amount for the previous period

Reason

Bank acceptance bill deposit 596,952,425.66 558,939,006.98 Restricted monetary funds

Bank frozen funds 94,854,155.56 107,019,306.57 Restricted monetary funds

Used to provide pledge/security for bills of exchange

39,000,000.00 20,010,246.58 Restricted monetary funds

of time deposits

Guarantee deposit 12,774,387.26 20,881,452.13 Restricted monetary funds

Transfer check 0.00 20,000,000.00 Restricted monetary funds

Others 9,206,956.42 8,766,653.34 Restricted monetary funds

Total 752,787,924.90 735,616,665.60

Other instructions: none

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(7) Description of other major activities

None

64. Foreign currency monetary items

(1) Foreign currency monetary items

Unit: Yuan

Items Foreign currency balance at the end of the period Conversion exchange rate RMB conversion balance at the end of the period

Monetary funds 8,434,291,966.50

Including: USD 137,946,643.84 6.8109 939,540,796.53

Euro 4,217,848.16 7.7671 32,760,448.44

Hong Kong dollars 8,286,999,547.50 0.86855 7,197,673,456.98 Japanese yen 3,963,953,249.00 0.042045 166,664,414.35 Korean won 127,394,398.00 0.004403 560,917.53 Vietnamese Dong 7,556,537,571.00 0.000259 1,957,143.23 Singapore Dollar 2,766,778.63 5.2605 14,554,638.98 Turkish Lira 552,638,025.22 0.14581 80,580,150.46 Accounts receivable 7,247,226,938.94

Including: USD 1,061,243,438.31 6.8109 7,228,022,933.99

Euro 2,068,349.23 7.7671 16,065,075.30

Hong Kong dollars 2,479,221.43 0.86855 2,153,327.77 Vietnamese dong 3,805,412,646.00 0.000259 985,601.88 Other receivables 267,553,705.29 Including: US dollars 32,594,751.96 6.8109 221,999,596.12 Euros 2,842,136.83 7.7671 22,075,160.97 Hong Kong dollars 160,243.00 0.86855 139,179.06 Japanese yen 15,100.00 0.042045 634.88 Vietnamese Dong 34,617,181,872.00 0.000259 8,965,850.10 Singapore Dollar 68,694.00 5.2605 361,364.79 Korean Won 182,606,363.00 0.004403 804,015.82 reals 10,029,694.09 1.31688 13,207,903.55 Long-term receivables 1,378,389,447.08 Including: US dollars 201,189,695.55 6.8109 1,370,282,897.42 rupees 112,361,562.70 0.072147 8,106,549.66 Accounts payable 4,487,785,749.38 Including: USD 652,538,018.16 6.8109 4,444,371,187.89 Euro 75,344.85 7.7671 HKD 585,210.98 500.00 0.86855 434.28 JPY 83,541,960.00 0.042045 3,512,521.71 VND 151,792,913,916.00 0.000259 39,314,364.70 Singapore dollars 385.86 5.2605 2,029.82 Other payables 341,850,435.23 Including: US dollars 45,919,728.26 6.8109 312,754,677.21 Hong Kong dollars 276,880.00 0.86855 240,484.12 Euros 2,614,105.51 7.7671 20,304,018.91 Vietnamese Dong 11,709,223,766.00 0.000259 3,032,688.96 Singapore Dollars 1,045,497.85 5.2605 5,499,841.44 Korean won 1,172,093.00 0.004403 5,160.73 reals 10,300.00 1.31688 13,563.86 Short-term borrowings 170,272,500.00

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Item Foreign currency balance at the end of the period Conversion exchange rate RMB conversion balance at the end of the period - US dollars 25,000,000.00 6.8109 170,272,500.00 Long-term payables 1,853,643,817.42 Including: US dollars 272,010,217.61 6.8109 1,852,634,391.12 Euros 129,961.80 7.7671 1,009,426.30

(2) The nature of the lack of currency convertibility and its financial impact, the spot exchange rate used and its estimation process, and the risks faced by the enterprise due to the lack of currency convertibility

□Applicable Not applicable

(3) Description of overseas operating entities, including for important overseas operating entities, their main overseas business location, accounting standard currency and basis for selection should be disclosed. If the accounting standard currency changes, the reasons should also be disclosed.

□Applicable Not applicable

(4) Lack of convertibility between the accounting standard currency of overseas operations and the enterprise’s presentation currency

□Applicable Not applicable

65. Leasing

(1) The company serves as the lessee

Applicable □Not applicable

Variable lease payments not included in the measurement of lease liabilities

□Applicable Not applicable

Simplified treatment of short-term leases or lease payments for low-value assets

Applicable □Not applicable

Items Half-year 2026 Short-term lease expenses for the first half of 2025 28,196,270.09 22,389,231.69 Low-value asset lease expenses 944,235.41 1,945,930.10 Cash outflows related to simplified short-term leases and low-value asset leases 21,016,359.23 13,293,309.34 Interest on lease liabilities 26,857,758.87 20,245,577.17 Situations involving sale and leaseback transactions:

The Group signed a sale and leaseback agreement with the lease of machinery and equipment. After the lease period expires, the company has the option to purchase the leased assets for RMB 1.00. The right to use and manage the assets does not change during the lease period. In essence, the assets are pledged to obtain financing. For assets sold and leased back by the Group, according to the "Accounting Standards for Business Enterprises No. 14 - Revenue", the control of the relevant underlying assets has not been transferred, so it is not considered a sale. At the end of the reporting period, long-term payables of RMB 14,237,487.76 were contracted in the form of sale and leaseback of fixed assets, which in essence were financing obtained with fixed assets as collateral. Among them, RMB 7,670,454.13 will mature within one year after the end of the period, and are listed as non-current liabilities due within one year.

(2) The company as the lessor

Operating lease as lessor

Applicable □Not applicable

Unit: Yuan

Item Lease income Including: Income related to variable lease payments not included in lease receipts Buildings and buildings 16,022,422.39

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Item Lease income Including: Income related to variable lease payments not included in lease receipts Equipment 432,476.31

Total 16,454,898.70

Finance lease as lessor

□Applicable Not applicable

Undiscounted lease payments for each of the next five years

Applicable □Not applicable

Unit: Yuan Annual undiscounted lease receipts

Project

Ending amount Beginning amount

First year 25,032,341.83 19,456,975.61 Second year 24,752,287.01 22,000,522.66 Third year 24,846,285.89 22,459,867.50 Fourth year 25,650,104.18 22,889,707.64 The fifth year 25,847,294.54 23,265,751.67 Total undiscounted lease receipts after five years 232,063,059.01 231,280,217.27

8. R&D expenditures

Unit: Yuan

Item Amount for the current period Amount for the previous period

Employee compensation 804,727,639.64 618,648,142.49 Material consumption 556,801,502.71 435,243,088.65 Depreciation and amortization expenses 34,810,833.29 35,665,872.75 Power expenses 8,345,878.91 8,142,593.87 Office expenses 6,841,661.33 5,883,198.75 Maintenance and inspection fees 9,616,305.58 5,443,345.82 Vehicle expenses 6,880,610.95 4,270,708.52 Other expenses 16,558,081.96 6,319,443.26 Total 1,444,582,514.37 1,119,616,394.11 Including: expensed R&D expenditures 1,441,670,102.04 1,127,533,731.48

Capitalized R&D expenditure 2,912,412.33 -7,917,337.37

1. R&D projects that meet capitalization conditions

Unit: Yuan Increase amount in this period Decrease amount in this period

balance at the beginning of the period

Item Internal development expenses Confirmed as N/A Transferred to current period Closing balance Others

Profit and loss of tangible assets

Robot research

2,912,412.33 2,912,412.33 development projects

Total 2,912,412.33 2,912,412.33 Important capitalized R&D projects: None

Impairment provision for development expenditure: None

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2. Important outsourced research projects:

None

9. Changes in consolidation scope

1. Business merger not under common control

(1) Business mergers not under common control that occurred during the current period

Unit: Yuan

Purchase date Purchase date to the end of the period Purchase date to the period Purchase date to the end of the period Purchased party Equity acquisition Equity acquisition Equity acquisition

Determination of equity acquisition cost, purchase date, acquisition ratio of the purchased party, current name of the purchased party, acquisition ratio method

Net profit based on income Cash flow Dongguan Limin

2026 01 2026 01 Control

Reaching and related 875,000,000.00 36.75% Cash purchase 405,405,883.57 445,169.25 2,039,601.96

Month 31 Month 31 Transfer

company

Other notes:

Dongguan Liminda and related companies include: Dongguan Liminda Electronic Technology Co., Ltd., Shanghai Liminda Electronic Technology Co., Ltd., READORE

TECHNOLOGY (HK) LIMITED. On December 22, 2025, the company signed the "Equity Transfer Agreement Regarding Dongguan Liminda Electronic Technology Co., Ltd." with Zhang Qiang, Wu Yan, Wu Yongjun, Xian Juhong, Ma Qi, Shan Xiaojun, Hao Daichao, Tang Jian, Dongguan Maodan Investment Co., Ltd., Xinyu Decai Migu Venture Capital Center (Limited Partnership) and Dongguan Decai Juntai Venture Capital Fund (Limited Partnership). The company acquired the 35% equity of Dongguan Liminda Electronic Technology Co., Ltd. held by the above-mentioned shareholders in cash at a price of RMB 875 million, and obtained the voting rights of Zhang Qiang's 17.78% stake in Liminda through voting rights entrustment, controlling a total of 52.78% of the voting rights in Liminda, thus gaining control over Liminda. In January 2026, based on the company's payment progress, Liminda's board of directors seat arrangement, property rights transfer procedures, Liminda's articles of association and compliance with relevant regulations of corporate accounting standards, the company has completed the relevant delivery procedures for this transaction as agreed, and Liminda has become a holding subsidiary of the company and has been included in the scope of the company's consolidated statements. Taking into account the fact that some minority shareholders have not paid in full their capital contribution, and after recalculating according to the actual capital contribution ratio of each shareholder, it was confirmed that the company held 36.75% of Liminda's equity on the purchase date. Minority shareholders have completed their capital contribution during this period, and the company's shareholding ratio at the end of the period was 35%.

(2) Merger costs and goodwill

Unit: Yuan

Merger costs Dongguan Liminda and related companies

--Cash 875,000,000.00 --Fair value of non-cash assets

--Fair value of debt issued or assumed

--Fair value of equity securities issued

--Fair value of contingent consideration

--The fair value of the equity held before the purchase date on the purchase date

--Others

Total merger cost 875,000,000.00 Less: The fair value share of identifiable net assets acquired 91,014,158.44 The amount of goodwill/merger cost less than the fair value share of identifiable net assets acquired 783,985,841.56 Determination method of fair value of merger cost:

According to Jinzheng Appraisal No. [2025] No. 0754 "Asset Valuation Report on the Value of All Equity Shareholders of Dongguan Liminda Electronic Technology Co., Ltd. Involved in the Planned Equity Acquisition of Guangdong Lingyi Intelligent Manufacturing Co., Ltd." issued by Jinzheng (Shanghai) Asset Appraisal Co., Ltd., 100% of the equity of Dongguan Liminda and related companies as of the appraisal date

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The assessed value on September 30, 2025, the base date of assessment, was 2.51 billion yuan. With reference to the assessed value and after equal negotiation, the transaction price of 35% equity of Dongguan Liminda and related companies was determined to be 875 million yuan.

Description of contingent consideration and changes: None

The main reasons for the formation of large amounts of goodwill:

The company's large amount of goodwill in this period was formed through the acquisition of the fair value share of the identifiable net assets of Dongguan Liminda and related companies through business mergers not under common control.

Other instructions: none

(3) The identifiable assets and liabilities of the purchased party on the purchase date

Unit: Yuan Dongguan Liminda and related companies

Fair value on the date of purchase Book value on the date of purchase

Assets:

Monetary funds 49,891,697.57 49,891,697.57 Accounts receivable 459,941,824.88 459,941,824.88 Inventory 111,278,238.35 101,619,628.88 Fixed assets 40,082,999.30 37,809,233.21 Intangible assets 134,292,984.98 3,341,904.64 Right-of-use assets 51,243,805.23 51,243,805.23 Other current assets 14,951,030.49 14,951,030.49 Other non-current assets 27,562,460.01 27,562,460.01Liabilities:

Borrowings 160,987,838.39 160,987,838.39 Accounts payable 379,801,479.58 379,801,479.58 Deferred income tax liabilities 21,460,523.02

Lease liabilities 45,873,568.66 45,873,568.66 Other current liabilities 23,723,918.28 23,723,918.28 Other non-current liabilities 9,740,138.87 9,926,836.47 Net assets 247,657,574.01 126,047,943.53 Less: Minority shareholders’ equity 156,643,415.57

Net assets acquired 91,014,158.44

Method for determining the fair value of identifiable assets and liabilities:

The fair value of the identifiable assets and liabilities of Dongguan Liminda and related companies is determined with reference to the asset-based method and valuation increment in the asset-based method of assessment in Shenzhen Zhongqi Huapingbao Zi (2026) No. 031 "Asset Valuation Report on the Fair Value Project of Identifiable Assets and Liabilities of Dongguan Liminda Electronic Technology Co., Ltd. Involved in the Merger Consideration Apportionment of Guangdong Lingyi Intelligent Manufacturing Co., Ltd. for Financial Reporting Purposes".

Contingent liabilities of the acquiree assumed in business combination: None

Other instructions: none

2. Changes in the scope of consolidation due to other reasons

Explain the changes in the scope of consolidation caused by other reasons (such as the establishment of new subsidiaries, liquidation of subsidiaries, etc.) and their related circumstances:

1. Newly established companies in this issue: Beijing Lingyi Robot Co., Ltd., Suzhou Lingchao Robot Intelligent Manufacturing Co., Ltd., Chengdu Lingzhi Innovation Robot Technology Co., Ltd., Zhengzhou Lingzhi Innovation Robot Technology Co., Ltd., Triumph Lead Group (Thailand) Co., Ltd., KOODA STONE (SINGAPORE) PTE. LTD., READORE ITECH (SINGAPORE) PTE. LTD., Kooda Stone Co., Ltd., Ningbo Longsheng Magnesium Technology Co., Ltd., SALCOMP TECHNOLOGY VIETNAM COMPANY LIMITED, Readore Logistics Philippines Inc.

2. Company canceled in this issue: Chengdu Lingfu New Energy Technology Co., Ltd.

3. Asset acquisition in the form of equity: Ningbo Longjun Enterprise Management Partnership (Limited Partnership)

4. Bankrupt company in this issue: STEELMAG INTERNATIONAL SAS

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10. Interests in other entities

1. Interests in subsidiaries

(1) Composition of enterprise groups

Unit: Yuan

Shareholding ratio

Name of subsidiary company Registered capital Main place of business Place of registration Nature of business How to obtain

direct indirect

Lingsheng Electronic Technology (Shenzhen) Co., Ltd. 216.50696 million yuan Shenzhen, Guangdong Guangdong Shenzhen Production and sales 100.00% 0.00% Merger with Shenzhen Linglie CNC Equipment Co., Ltd. 200 million yuan Shenzhen, Guangdong Guangdong Shenzhen Production and sales 100.00% 0.00% Merger with Dongguan Shengxiang Precision Metal Co., Ltd. 240 million yuan Dongguan, Guangdong Dongguan, Guangdong Production and sales 100.00% 0.00% Establishment of Dongguan Lingyi Precision Manufacturing Technology Co., Ltd. 403.73365 million yuan Dongguan, Guangdong Dongguan, Guangdong Production and sales 100.00% 0.00% Merger of Dongguan Xinyan Precision Tool Co., Ltd. 18 million yuan Dongguan, Guangdong Dongguan, Guangdong Production and sales 0.00% 100.00% Merger of Lingshengcheng Technology (Jiangsu) Co., Ltd. 458 million yuan Jiangsu Dongtai Jiangsu Dongtai Production and sales 100.00% 0.00% Establishment of TLG INVESTMENT(HK)LIMITED 4.285 million US dollars Hong Kong, China Hong Kong, China Trade 0.00% 100.00% Established Zhengzhou Lingsheng Technology Co., Ltd. 50 million yuan Zhengzhou, Henan Zhengzhou, Henan Production and sales 100.00% 0.00% Established Zhengzhou Lingye Technology Co., Ltd. 10 million yuan Zhengzhou, Henan Zhengzhou, Henan No operations for the time being 0.00% 100.00% Established Dongguan Lingjie Metal Precision Manufacturing Technology Co., Ltd. 300 million yuan Dongguan, Guangdong Dongguan, Guangdong Production and sales 100.00% 0.00% Establishment of Suzhou Lingyu Electronic Technology Co., Ltd. 769.55 million yuan Suzhou, Jiangsu Suzhou, Jiangsu Production and sales 100.00% 0.00% Merger of Chengdu Lingyi Technology Co., Ltd. 179.35856 million yuan Chengdu, Sichuan Chengdu, Sichuan Production and sales 100.00% 0.00% Establishment of LY INVESTMENT (HK) LIMITED US$900,000 Hong Kong, China Trade 100.00% 0.00% Establishment of TRIUMPH LEAD GROUP USA, INC US$92,000,001 United States of America Services 0.00% 100.00% Establishment of TRIUMPH LEAD GROUP LIMITED (registered in BVI) US$10,000 British Virgin Islands British Virgin Islands No operations at the moment 0.00% 100.00% Merger with HONG KONG CRYSTALYTE LIMITED 263 million Hong Kong dollars Hong Kong, China Hong Kong with no operations at the moment 0.00% 100.00% Merger with Dongguan Linkway Precision Manufacturing Technology Co., Ltd. 32 million US dollars Dongguan, Guangdong Dongguan, Guangdong Leasing services 0.00% 100.00% Merger with Guangdong Lingyi Intelligent Manufacturing Co., Ltd. RMB 7307,109,252 Jiangmen, Guangdong Jiangmen, Guangdong Trade 100.00% 0.00% Merger with Jiangmen Jiangyi Magnetic Materials Co., Ltd. RMB 403,635,600 Jiangmen, Guangdong Jiangmen, Guangdong Production and sales 0.00% 100.00% Merger of Heshan Jiangfen Magnetic New Materials Co., Ltd. 77,332,565 RMB Jiangmen, Guangdong Jiangmen, Guangdong Rental services 0.00% 100.00% Merger of Jiangfen Magnetic Materials International Holdings Co., Ltd. HKD 46,167,452, Hong Kong, China, Hong Kong, China Investment Holding 0.00% 100.00% Merger of Jiangmen Anci Electronics Co., Ltd. 3 million US dollars Jiangmen, Guangdong Jiangmen, Guangdong Production and sales 0.00% 91.50% Merge Jiangmen Enfuxin Electronic Materials Co., Ltd. 2 million yuan Jiangmen, Guangdong Jiangmen, Guangdong No operations yet 0.00% 100.00% Merge Jiangmen Chuangfu Investment Management Co., Ltd. 35 million yuan Jiangmen, Guangdong Jiangmen, Guangdong Investment management 0.00% 100.00% Merger Trend Leader (Guangzhou) Private Equity Investment Fund Management Co., Ltd. RMB 3.69 million Guangzhou, Guangdong Guangzhou, Guangdong Investment Management 0.00% 100.00% Merger

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Shareholding ratio

Name of subsidiary company Registered capital Main place of business Place of registration Nature of business How to obtain

direct indirect

Jiangmen Zhengxi Machinery Equipment Co., Ltd. RMB 23.977009 Jiangmen, Guangdong Jiangmen, Guangdong Not operating yet 0.00% 100.00% Merge Shenzhen Qianhai Fangyuan Commercial Factoring Co., Ltd. RMB 100 million Shenzhen, Guangdong Guangdong Shenzhen Supply chain management 0.00% 100.00% Merge Jiangmen Jinci Magnetic Materials Co., Ltd. RMB 10 million Jiangmen, Guangdong Jiangmen, Guangdong Not operating yet 0.00% 55.00% Merge Jiangfen Magnetic Materials (Wuhan) Technology R&D Co., Ltd. RMB 20 million Wuhan, Hubei Wuhan, Hubei Leasing services 0.00% 100.00% Merge Shenzhen Dongfang Liangcai Precision Technology Co., Ltd. RMB 1,048,250,500 Shenzhen, Guangdong Guangdong Shenzhen Trade 0.00% 100.00% Merger with Lingyi Intelligent Manufacturing Technology (Dongguan) Co., Ltd. 240 million yuan Dongguan, Guangdong Dongguan, Guangdong Production and sales 0.00% 100.00% Merger with Dongguan Oubidi Precision Hardware Co., Ltd. 905 million yuan Dongguan, Guangdong Dongguan, Guangdong Production and sales 0.00% 100.00% Merge Shenzhen Lingyi Technology Supply Chain Management Co., Ltd. RMB 10 million Shenzhen, Guangdong Shenzhen, Guangdong Logistics services 0.00% 100.00% Establish Chengdu Lingtai Technology Co., Ltd. RMB 100 million Chengdu, Sichuan Chengdu, Sichuan Production and sales 0.00% 100.00% Establish Suzhou Lingyi Trading Co., Ltd. (former name: Suzhou Lingyi Precision Technology Co., Ltd.

RMB 250 million Suzhou, Jiangsu Suzhou, Jiangsu Production and sales 100.00% 0.00% Establishment Division)

Leading Technology (Dongtai) Co., Ltd. RMB 100 million Dongtai, Jiangsu Dongtai, Jiangsu Production and sales 0.00% 100.00% Establishment LingYi iTech Investment (HK) Limited USD 84,340,000 + RMB 24 million Hong Kong, China Hong Kong Investment Holding 0.00% 100.00% Establishment

Investment holding, trading

Salcomp Plc €9,832,735,120,000 Finland Finland 0.00% 100.00% Consolidated

easy

Salcomp Manufacturing Oy 9,096,650 euros Finland Finland Investment Holding 0.00% 100.00% Merge Salcomp Technologies (Shenzhen) Co., Ltd. 68.1 million US dollars Shenzhen, Guangdong Guangdong Shenzhen Production and Sales 0.00% 100.00% Merger Salcomp Industrial Eletronica da Amazonia Ltda 215,938,034 reais Brazil Brazil Production and sales 0.00% 100.00% Merger with Salcomp Manufacturing India Private Ltd 117.9 million INR India India Production and sales 0.00% 100.00% Merger with Salcomp Taiwan Co,. Guigang, Guangxi Production and sales 0.00% 100.00% Merger with Isallom India Private Limited 290,000,000 INR India India Production and sales 0.00% 100.00% Merger with Salcomp Technologies India Private Limited 101,500,000 INR India India Production and sales 0.00% 100.00% Establishment of Mianyang Weiwei Electronic Technology Co., Ltd. 21,150,000 RMB Mianyang, Sichuan Mianyang, Sichuan Production and sales 0.00% 69.74% Merged Triumph Lead (Singapore) Pte. Ltd. US$89.175 million Singapore Singapore Trading 0.00% 100.00% Established Shenzhen Lingtao Technology Co., Ltd. 20 million yuan Shenzhen, Guangdong Shenzhen, Guangdong Production and sales 100.00% 0.00% Establish

Asset Collection Yi Industrial (Zhuhai) Co., Ltd. in the form of equity 410.0422 million yuan Zhuhai, Guangdong Zhuhai, Guangdong Leasing services 0.00% 100.00%

Purchased Guilin Lingyi Manufacturing Co., Ltd. RMB 200 million Guilin, Guangxi Guilin, Guangxi Production and sales 0.00% 100.00% Established Huangshan Lingyi Communication Technology Co., Ltd. RMB 20 million Huangshan, Anhui Huangshan, Anhui No operations for the time being 0.00% 100.00% Established Suzhou Lingding New Energy Technology Co., Ltd. 150 million yuan Suzhou, Jiangsu Suzhou, Jiangsu Trade 100.00% 0.00% Establishment of Chengdu Lingyi Communication Technology Co., Ltd. 5 million yuan Chengdu, Sichuan Chengdu, Sichuan Production and sales 0.00% 100.00% Establishment of Dongguan Lingbo Industrial Co., Ltd. 50 million yuan Dongguan, Guangdong Dongguan, Guangdong Production and sales 100.00% 0.00% Established Suzhou Linglian Intelligent Technology Co., Ltd. RMB 720 million Suzhou, Jiangsu Suzhou, Jiangsu Production and sales 0.00% 100.00% Established Zhejiang Jintai Electronics Co., Ltd. RMB 71,665,871.63 Huzhou, Zhejiang Huzhou, Zhejiang Trade 95.00% 0.00% Merger

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Shareholding ratio

Name of subsidiary company Registered capital Main place of business Place of registration Nature of business How to obtain

direct indirect

Shenzhen Lingpeng Intelligent Technology Co., Ltd. 50 million yuan Shenzhen, Guangdong Shenzhen, Guangdong Production and sales 0.00% 100.00% Establishment of Suzhou Linkhui New Energy Technology Co., Ltd. 40 million yuan Suzhou, Jiangsu Suzhou, Jiangsu Production and sales 0.00% 95.00% Establishment of Dongguan Shengtao Technology Co., Ltd. 50 million yuan Dongguan, Guangdong Dongguan, Guangdong Production and sales 0.00% 100.00% Establishment of Fujian Lingfu New Energy Technology Co., Ltd. 10 million yuan Ningde, Fujian Ningde, Fujian Production and sales 0.00% 57.00% Establishment of Yitao Technology (Dongguan) Co., Ltd. 20 million yuan Dongguan, Guangdong Dongguan, Guangdong Production and sales 0.00% 100.00% Established Dongtai Lingyu Intelligent Technology Co., Ltd. 436 million yuan Jiangsu Dongtai Jiangsu Dongtai Production and sales 0.00% 100.00% Established Yangzhou Linghuang Technology Co., Ltd. 208.8 million yuan Yangzhou, Jiangsu Jiangsu Yangzhou Production and sales 47.8927% 52.1073% Established Salcomp Holdings PTE.LTD. US$23 million Singapore Singapore Trading 0.00% 100.00% Establishment of SALCOMP TURKEY TEKNOLOJI SANAYI VE TICARET

3.5 million liras Türkiye Turkey Production and sales 0.00% 100.00% Establishment of ANONIM SIRKETI

Chengdu Lingtao New Energy Technology Co., Ltd. 100 million yuan Chengdu, Sichuan Chengdu, Sichuan Production and sales 0.00% 95.00% Establishment of Yangzhou Lingsheng New Energy Technology Co., Ltd. 60.5263 million yuan Yangzhou, Jiangsu Jiangsu Yangzhou Trade 0.00% 57.00% Establishment of Changzhou Lingsheng New Energy Technology Co., Ltd. 20 million yuan Changzhou, Jiangsu Changzhou, Jiangsu Production and sales 0.00% 57.00% Establishment of Guangzhou Lingyu Equity Investment Partnership (Limited Partnership) 16.01 million yuan Guangzhou, Guangdong Guangzhou, Guangdong Investment management 0.00% 50.0313% Establishment of Dongguan Lingrui Technology Co., Ltd. 100 million yuan Dongguan, Guangdong Dongguan, Guangdong Production and sales 0.00% 100.00% Establishment of Guilin Salcomp Electronic Technology Co., Ltd. RMB 81.011 million Guilin, Guangxi Guilin, Guangxi Production and sales 0.00% 100.00% Establishment of Zhuhai Lingyi Communication Technology Co., Ltd. 20 million yuan Zhuhai, Guangdong Zhuhai, Guangdong Production and sales 0.00% 100.00% Establishment of Salcomp Energy USA Inc. USD 7 million United States United States Leasing services 0.00% 100.00% Establishment of Salcomp Manufacturing USA Corp. US$10 million United States United States Production and sales 0.00% 100.00% Establishment of LINGYI VIET NAM COMPANY LIMITED US$37 million Vietnam Vietnam Production and sales 0.00% 100.00% Establishment of Valor Log Armazem Geral Ltda R$ 13,068,449 Brazil Brazil Logistics Services 0.00% 100.00% Establishment of Yangzhou Leadtao Technology Co., Ltd. 10 million RMB Jiangsu Yangzhou Jiangsu Yangzhou Trade 0.00% 100.00% Establishment of Triumph Lead (Finland) Pte.Ltd Oy 0 Finland Finland Investment Holding 0.00% 100.00% Established Yangzhou Linkhui New Energy Co., Ltd. 10 million yuan Yangzhou, Jiangsu Yangzhou, Jiangsu Production and sales 0.00% 95.00% Established Dongtai Lingtao Electronics Co., Ltd. 10 million yuan Dongtai, Jiangsu Jiangsu Dongtai Production and sales 100.00% 0.00% Established Shenzhen Huazhiyi Automation Technology Co., Ltd. 20 million yuan Shenzhen, Guangdong Shenzhen, Guangdong Production and sales 0.00% 100.00% Establishment of Linghang Precision Manufacturing Co., Ltd. 2 million yen Japan Japan No operation for the time being 0.00% 100.00% Establishment of LINGHUI SG NEW ENERGY PTE.LTD. SGD 50,000 Singapore Singapore No operation for the time being 0.00% 95.00% Establishment of Wenzhou Core Shell Technology Co., Ltd. 1 million yuan Wenzhou, Zhejiang Wenzhou, Zhejiang Production and sales 0.00% 66.50% Merged with Jiangsu Lingyicheng Electronic Technology Development Co., Ltd. 20 million yuan Jiangsu Dongtai Jiangsu Dongtai No operation yet 0.00% 100.00% Established Shenzhen Lingyi Liangcai Trading Co., Ltd. 10 million yuan Shenzhen, Guangdong Guangdong Shenzhen Trade 0.00% 100.00% Established

Enterprises under common control and Suzhou Lingye Intelligent Technology Co., Ltd. RMB 55,555,600 Suzhou, Jiangsu Suzhou, Jiangsu Production and sales 100.00% 0.00%

Merged with LINGYI THAI NGUYEN VIET NAM COMPANY LIMITED 5 million US dollars Vietnam Vietnam Production and sales 0.00% 100.00% Establishment of Salcomp Technology (Dongguan) Co., Ltd. 100,000 yuan Dongguan, Guangdong Dongguan, Guangdong Production and sales 0.00% 100.00% Establishment

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Name of subsidiary company Registered capital Main place of business Place of registration Nature of business How to obtain

direct indirect

Shenzhen Lingyi Robot Technology Co., Ltd. 20 million yuan Shenzhen, Guangdong Shenzhen, Guangdong Production and sales 0.00% 100.00% Establishment

Salcomp Electronics (Suzhou) Co., Ltd. 30 million yuan Suzhou, Jiangsu Suzhou, Jiangsu Production and sales 0.00% 100.00% Establishment

Dongguan Lingzhi Innovation Robot Technology Co., Ltd. 20 million yuan Dongguan, Guangdong Dongguan, Guangdong Production and sales 80.00% 0.00% Establishment

Shenzhen Lingfu Robot Technology Co., Ltd. 10 million yuan Shenzhen, Guangdong Shenzhen, Guangdong Production and sales 0.00% 100.00% Establishment

Enterprises not under common control Dongguan Jieying Precision Silicone Technology Co., Ltd. RMB 66.8 million Dongguan, Guangdong Dongguan, Guangdong Production and sales 0.00% 80.00%

merge

Enterprises not under common control ANSHUN (ASIA) INVESTMENT LIMITED HKD 5 million Hong Kong, China Hong Kong, China Trade 0.00% 80.00%

merge

Enterprises not under common control THE CARE LABS COMPANY LIMITED HKD 500,000 Hong Kong, China Hong Kong, China Not currently operating 0.00% 80.00%

merge

Enterprises not under common control Jiangsu Keda Stern Automotive Technology Co., Ltd. RMB 59,143,636 Changzhou, Jiangsu Changzhou, Jiangsu Production and sales 60.00% 0.00%

merge

Enterprises not under common control Changzhou Keda Auto Parts Co., Ltd. RMB 8 million Changzhou, Jiangsu Changzhou, Jiangsu Trade 0.00% 60.00%

merge

Anhui Cohen Auto Parts Co., Ltd., an enterprise not under common control RMB 5 million Anhui Wuhu Anhui Wuhu Production and sales 0.00% 60.00%

merge

Anqing Keda Auto Parts Co., Ltd., an enterprise not under common control RMB 5 million Anqing, Anhui Anqing, Anhui Production and sales 0.00% 60.00%

merge

Enterprises not under common control Hefei Stern Auto Parts Co., Ltd. RMB 1 million Hefei, Anhui Hefei, Anhui Production and sales 0.00% 60.00%

merge

Enterprises not under common control Zhengzhou Keda Stern Auto Parts Co., Ltd. RMB 20 million Zhengzhou, Henan Zhengzhou, Henan Production and sales 0.00% 60.00%

merge

Xiangtan Keda Automotive Trim System Co., Ltd., an enterprise not under common control RMB 1 million Xiangtan, Hunan Xiangtan, Hunan Production and sales 0.00% 60.00%

merge

Enterprises not under common control Ningde Keda Stern Automotive Interior Systems Co., Ltd. RMB 3 million Ningde, Fujian Ningde, Fujian Production and sales 0.00% 60.00%

merge

Jinan Keen Auto Parts Co., Ltd., an enterprise not under common control RMB 2.5 million Jinan, Shandong Jinan, Shandong Production and sales 0.00% 60.00%

merge

Enterprises not under common control Shenyang Keda Stern Auto Parts Co., Ltd. RMB 2.5 million Shenyang, Liaoning Shenyang, Liaoning Production and sales 0.00% 60.00%

merge

Enterprises not under common control Ningbo Stern Automotive Trim Co., Ltd. RMB 5 million Ningbo, Zhejiang Ningbo, Zhejiang Production and sales 0.00% 60.00%

merge

Zhejiang Xianglong Machinery Co., Ltd., an enterprise not under common control, RMB 662,237,218,650, Ningbo, Zhejiang Ningbo, Zhejiang Production and sales 96.1536% 0.0576%

merge

Ningbo Xianglong Auto Parts Co., Ltd. 110 million yuan Ningbo, Zhejiang Ningbo, Zhejiang Production and sales 0.00% 96.2112% Enterprises not under common control

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Subsidiary name Registered capital Main place of business Registration place Nature of business Acquisition method Direct Indirect

Merger of enterprises not under common control Ningbo Longjun Import and Export Co., Ltd. US$10 million Ningbo, Zhejiang Ningbo, Zhejiang Trade 0.00% 96.1679%

Merger of enterprises not under common control Xianglong Manufacturing (Thailand) Co., Ltd. 525.175 million baht Thailand Thailand Production and sales 0.00% 96.1679%

Merge Beijing Lingyi Robot Co., Ltd. 30 million yuan Beijing Beijing Production and sales 0.00% 100.00% Establish Suzhou Lingchao Robot Intelligent Manufacturing Co., Ltd. 100 million yuan Suzhou, Jiangsu Suzhou, Jiangsu production and sales 0.00% 100.00% Establish Chengdu Lingzhi Innovation Robot Technology Co., Ltd. 20 million yuan Chengdu, Sichuan Chengdu, Sichuan Production and sales 0.00% 80.00% Establishment of Dongguan Liminda Electronic Technology Co., Ltd., an enterprise not under common control, RMB 13,369,631 Dongguan, Guangdong Dongguan, Guangdong Production and sales 0.00% 35.00%

Merger of enterprises not under common control Shanghai Liminda Electronic Technology Co., Ltd. RMB 5 million Shanghai Shanghai R&D Center 0.00% 35.00%

Merger of enterprises not under common control READORE TECHNOLOGY (HK) LIMITED HKD 10 million Hong Kong, China Hong Kong, China Trade 0.00% 35.00%

Merge Zhengzhou Leadzhi Innovation Robot Technology Co., Ltd. 15 million yuan Zhengzhou, Henan Zhengzhou, Henan Production and sales 0.00% 80.00% Establish Triumph Lead Group (Thailand) Co., Ltd. 5 million baht Thailand Thailand No operations 0.00% 100.00% Establish investment holding, trading

KOODA STONE (SINGAPORE) PTE. LTD. US$500,000 Singapore Singapore 0.00% 60.00% Easy to set up

READORE ITECH (SINGAPORE) PTE. LTD. US$500,000 Singapore Singapore Trading 0.00% 35.00% Establishment of Kooda Stone Co., Ltd. 5 million baht Thailand Thailand Production and sales 0.00% 59.9996% Establishment of Ningbo Longsheng Magnesium Technology Co., Ltd. 1 million RMB Ningbo, Zhejiang Ningbo, Zhejiang Production and sales 0.00% 67.3478% Establishment of SALCOMP TECHNOLOGY VIETNAM COMPANY LIMITED USD 5 million Vietnam Vietnam Production and Sales 0.00% 100.00% Establishment of Ningbo Longjun Enterprise Management Partnership (Limited Partnership) in the form of equity 58.2355163 yuan Ningbo, Zhejiang Ningbo, Zhejiang Investment platform 1.4976% 0.0000%

Purchased Readore Logistics Philippines Inc. for Php 12 million Philippines Philippines Logistics services 0.00% 35% Establishment

Note that the shareholding ratio in subsidiaries is different from the voting right ratio: the company holds 35% of the equity of Dongguan Liminda Electronic Technology Co., Ltd., and obtained the voting rights of Zhang Qiang’s 17.78% stake in Liminda through voting rights entrustment. It controls a total of 52.78% of the voting rights of Liminda, thus gaining control over Liminda.

Other notes:

According to the "Ningbo Longjun Enterprise Management Partnership (Limited Partnership) Partnership Agreement", Lingyi Technology (Shenzhen) Co., Ltd. is the general partner of Ningbo Longjun Enterprise Management Partnership (Limited Partnership) (hereinafter referred to as "Ningbo Longjun"), and serves as the executive affairs partner of Ningbo Longjun. It has actual control over Ningbo Longjun, so it is included in the scope of group consolidation.

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None

(3) Significant restrictions on the use of enterprise group assets and repayment of enterprise group debts

None

(4) Financial support or other support provided to structured entities included in the scope of consolidated financial statements

None

2. Transactions in which the owner’s equity share in the subsidiary changes and the subsidiary still controls the subsidiary

(1) Description of changes in owner’s equity shares of subsidiaries

At the end of April 2026, the company paid RMB 1,440,092.16 in cash to the third-party partner of Ningbo Longjun Enterprise Management Partnership (Limited Partnership) (hereinafter referred to as "Ningbo Longjun") to purchase 1.4976% of Ningbo Longjun's equity. The indirect shareholding in Zhejiang Xianglong Machinery Co., Ltd. (hereinafter referred to as "Zhejiang Xianglong") increased by 0.0576%. Ningbo Longjun has completed the industrial and commercial change registration, and the company's shareholding ratio in Zhejiang Xianglong increased from 96.1536% to 96.2112%. The net asset share of the subsidiary calculated based on the equity ratio obtained in this transaction was RMB 677,661.97, which was used to offset the capital reserve of RMB 762,430.19.

(2) The impact of the transaction on minority shareholders’ equity and owner’s equity attributable to the parent company

Unit: Yuan

Zhejiang Xianglong and its related companies

Purchase cost/disposal consideration

--Cash 1,440,092.16 --Fair value of non-cash assets

Total purchase cost/disposal consideration 1,440,092.16 Less: Net asset share of the subsidiary calculated based on the proportion of equity acquired/disposed 677,661.97 Difference 762,430.19 Including: Adjusted capital reserve 762,430.19

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Adjust undistributed profits

Other instructions: none

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3. Interests in joint ventures or associated enterprises

(1) Important joint ventures or associates

None

(2) Main financial information of important associates

None

(3) Summary financial information of unimportant joint ventures and associates

Unit: Yuan

Ending balance/Amount incurred in the current period Opening balance/Amount incurred in the previous period Joint ventures:

The total of the following items calculated based on shareholding ratio

Associates:

Total book value of investments 802,129,205.80 796,950,944.27 Total of the following items calculated based on shareholding ratio

--Net profit 27,449,045.27 30,118,200.08 --Other comprehensive income -11,434,719.21 -6,955,476.47 --Total comprehensive income 16,014,326.06 23,162,723.61Other explanation: None

4. Important joint operations

None

5. There are no interests in structured entities that are not included in the scope of consolidated financial statements.

11. Government subsidies

1. Government subsidies recognized according to the amount receivable at the end of the reporting period

Applicable □Not applicable

The ending balance of accounts receivable: 14,519,237.12 yuan.

Reasons for failure to receive the estimated amount of government subsidy at the estimated time

□Applicable Not applicable

2. Liability items involving government subsidies

Applicable □Not applicable

Unit: Yuan

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Included in this period

New additions in this period are transferred to other and assets/receipt accounting accounts in this period. Opening balance Non-operating income Other changes in this period Closing balance

Amount of subsidy Amount of other income Interest related

Deposit amount

Deferred income 601,825,135.50 50,197,323.10 62,293,945.80 6,257,309.54 583,471,203.26 Deferred income related to assets 25,756,757.52 78,902.10 2,184,384.48 23,007,373.04 643,902.10 Total related to income 627,581,893.02 50,276,225.20 64,478,330.28 29,264,682.58 584,115,105.36

3. Government subsidies included in current profits and losses

Applicable □Not applicable

Unit: Yuan

Accounting accounts Amount for the current period Amount for the previous period

Other income 150,139,508.29 113,819,525.48 Other instructions: None

12. Risks related to financial instruments

1. Various risks arising from financial instruments

The company's main financial instruments include monetary funds, trading financial assets, notes receivable, accounts receivable, receivable financing, other receivables, short-term loans, notes payable, accounts payable, other payables, non-current liabilities due within one year and long-term loans, etc. See Note 7 for details of each financial instrument. The risks associated with these financial instruments, and the risk management policies adopted by the Company to mitigate these risks, are described below. The company's management manages and monitors these risk exposures to ensure that the above risks are controlled within limited limits.

(1) Credit risk

Credit risk refers to the risk that the counterparty fails to perform its contractual obligations, resulting in financial losses for the Company. Management has formulated appropriate credit policies and continuously monitors credit risk exposure.

The Company has adopted a policy of only entering into transactions with creditworthy counterparties. For notes receivable, accounts receivable and other receivables, the Company sets relevant policies to control credit risk exposure. The company evaluates the customer's credit qualifications and sets corresponding credit periods based on the customer's financial status, the possibility of obtaining guarantees from third parties, credit records and other factors such as current market conditions. The Company continuously monitors the recovery of notes receivable, accounts receivable balances and other receivables. For customers with poor credit records, the Company will use written reminders, shorten the credit period or cancel the credit period to ensure that the Company does not face major credit losses. In addition, the Company reviews the recovery of financial assets on each balance sheet date to ensure that sufficient provisions for expected credit losses have been made for relevant financial assets.

The Company's other financial assets include monetary funds, trading financial assets, other receivables, etc. The credit risk of these financial assets originates from the default of the counterparty. The maximum credit risk exposure is the carrying amount of each financial asset in the balance sheet. The monetary funds held by the Company are mainly deposited in financial institutions such as state-owned banks and other large and medium-sized commercial banks. The management believes that these commercial banks have high reputation and asset status, do not have major credit risks, and will not incur any major losses due to default by counterparties. The company's policy is to control the amount of deposits placed in each well-known financial institution based on its market reputation, operating scale and financial background, in order to limit the amount of credit risk to any single financial institution.

As of June 30, 2026, the accounts receivable of the company's top five customers accounted for 39.64% of the company's total accounts receivable.

As part of the Company's credit risk asset management, the Company uses aging to assess impairment losses on accounts receivable and other receivables. The Company's accounts receivable and other receivables involve a large number of customers, and aging information can reflect the solvency and bad debt risks of these customers for accounts receivable and other receivables. The company calculates the historical actual bad debt rates for different aging periods based on historical data, and takes into account forecasts of current and future economic conditions, such as national GDP growth, total infrastructure investment, national monetary policy and other forward-looking information, and adjusts the expected loss rate to arrive at the expected loss rate. For long-term receivables, the Company comprehensively considers the settlement period, the payment period stipulated in the contract, the financial status of the debtor and the economic situation of the industry in which the debtor is located, and makes reasonable assessments of expected credit losses after making adjustments based on the above-mentioned forward-looking information.

As of June 30, 2026, the book balance and expected credit impairment losses of related assets are as follows:

Unit: Yuan

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Item Book balance Impairment provision

Notes receivable 408,763,641.09 7,155,081.48 Accounts receivable 12,818,152,056.68 737,963,417.19 Other receivables 914,815,320.35 614,636,361.67 Total 14,141,731,018.12 1,359,754,860.34

(2) Liquidity risk

Liquidity risk refers to the risk of a shortage of funds when an enterprise fulfills its obligations to settle by delivering cash or other financial assets. The Company is responsible for its own cash management, including the short-term investment of cash surpluses and the raising of loans to meet anticipated cash needs (approval of the Company's Board of Directors is required if borrowing amounts exceed certain preset authorization limits). The Company's policy is to regularly monitor short-term and long-term liquidity requirements and compliance with the provisions of the borrowing agreement to ensure that it maintains adequate cash reserves and marketable securities that are readily liquidated, while obtaining commitments from major financial institutions to provide sufficient reserve funds to meet short-term and longer-term liquidity requirements.

(3) Market risk

1. Exchange rate risk

Foreign exchange risk refers to the risk of losses due to changes in exchange rates. The Company's exposure to foreign exchange risks mainly arises from accounts receivable, accounts payable, and short-term borrowings denominated in foreign currencies due to purchases, sales, and lending businesses. The currency causing this risk is mainly the U.S. dollar. As of June 30, 2026, the balance of the company's foreign currency monetary assets and liabilities is detailed in Note 7, Note (64). The foreign exchange risk arising from the assets and liabilities with such foreign currency balances may have an impact on the Group's operating results.

With other variables unchanged, the company's exchange rate changes of RMB against the U.S. dollar, euro, Hong Kong dollar, and Vietnamese Dong on June 30, 2026 caused the RMB to appreciate/depreciate by 5%, resulting in a decrease/increase in the company's shareholders' equity and net profit of RMB 62,009,298.70.

2. Interest rate risk

Interest-bearing financial instruments with fixed interest rates and floating interest rates expose the Group to fair value interest rate risk and cash flow interest rate risk respectively. The Group determines the ratio of fixed-rate and floating-rate instruments based on market conditions, and maintains an appropriate mix of fixed-rate and floating-rate instruments through regular review and monitoring. When necessary, the Company will use interest rate swap instruments to hedge interest rate risks.

2. Financial assets

(1) Classification of transfer methods

Applicable □Not applicable

Unit: Yuan transferred Finance transferred Finance transferred Termination confirmation information

Basis for judgment on termination of confirmation

Method Nature of assets Amount of output Status

Notes Receivables Financing Bank acceptance bills used for discounting or endorsement are accepted by banks with higher credit ratings.

893,346,043.11 Termination of confirmation

Endorsement and redemption, the credit risk and deferred payment risk related to the bill are relatively small, so the bill is derecognized. The bank acceptance bill used for discount or endorsement is accepted by a bank with a higher credit rating.

284,501,333.53 Termination of confirmation

Discounted capital, the credit risk and deferred payment risk related to the bill are relatively small, so the recognition is terminated

The acceptance bill used for discounting or endorsement is a bill accepted by a bank or enterprise with a low credit rating.

Notes receivable 46,259,219.47 Not derecognized. Redemption, discount or endorsement does not affect the right of recourse, credit risk related to the note and deferred payment endorsement.

The risk of payment has not been transferred yet

The acceptance bill used for discounting or endorsement is a bill accepted by a bank or enterprise with a low credit rating.

Notes receivable 28,087,671.62 Not derecognized. Redemption, discount or endorsement does not affect the recourse rights, credit risks related to the notes and deferred payment of discounts.

The risk of payment has not been transferred yet

1,252,194,267.7

total

(2) Financial assets derecognized due to transfer

Applicable □Not applicable

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Unit: Yuan

Item Method of transfer of financial assets Amount of financial assets derecognized Gains or losses related to derecognition Receivables Financing Bill endorsement 893,346,043.11

Accounts receivable financing Bill discount 284,501,333.53 -1,188,140.04

Total 1,177,847,376.64 -1,188,140.04

(3) Asset transfer financial assets that continue to be involved

Applicable □Not applicable

Unit: Yuan

Item Asset transfer method Amount of assets formed by continued involvement Amount of liabilities formed by continued involvement Notes receivable Bill endorsement 46,259,219.47 46,259,219.47 Notes receivable Bill discount 28,087,671.62 28,087,671.62

Total 74,346,891.09 74,346,891.09

13. Disclosure of fair value

1. Closing fair value of assets and liabilities measured at fair value

Unit: Yuan Ending Fair Value

Item Level 1 Fair Value Measurement Level 2 Fair Value Measurement Level 3 Fair Price

total

Fair value measurement Volume measurement

1. Continuous fair value measurement -- -- -- --

(1) Trading financial assets 2,133,167,241.51 2,133,167,241.51 1. Measured at fair value with changes included in current profits and losses

2,133,167,241.51 2,133,167,241.51 financial assets

(1) Bank wealth management products 2,095,313,560.29 2,095,313,560.29 (2) Equity instrument investment 15,681,333.34 15,681,333.34 (3) Derivative financial assets 22,172,347.88 22,172,347.88

(3) Investment in other equity instruments 135,243,677.17 135,243,677.17

(6) Accounts receivable financing 357,259,632.66 357,259,632.66

(7) Other non-current financial assets 77,210,096.32 77,210,096.32 Total assets continuously measured at fair value 2,345,621,015.00 357,259,632.66 2,702,880,647.66

(8) Non-current liabilities due within one year 233,844,040.11 233,844,040.11

(9) Other non-current liabilities 304,587,759.98 304,587,759.98 Total liabilities continuously measured at fair value 538,431,800.09 538,431,800.09

2. Non-continuous fair value measurement -- -- -- --

2. Basis for determining the market price of continuous and non-continuous first-level fair value measurement items

An unadjusted quoted price in an active market for identical assets or liabilities.

3. Continuous and non-continuous second-level fair value measurement items, valuation techniques used and qualitative and quantitative information on important parameters

The fair value of bank wealth management products is determined by the discounted future cash flow method calculated based on the agreed expected rate of return.

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Guangdong Lingyi Intelligent Manufacturing Co., Ltd. 2026 Semi-annual Report Full Text The fair value of equity instrument investments and other equity instrument investments and other non-current financial assets is determined based on the closing price of shares of less liquid companies in the open market in the National Equities Exchange and Quotations in the National Equities Exchange and Quotations, adding observable input values or based on the prices of external investors newly introduced in this period.

The fair value of forward foreign exchange contracts in derivative financial assets is determined by discounting the difference between the exercise price of the forward foreign exchange contract and the market forward price.

4. Continuous and non-continuous third-level fair value measurement projects, valuation techniques used and qualitative and quantitative information on important parameters

Level 3 input values are unobservable input values for related assets or liabilities.

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5. Continuous third-level fair value measurement items, reconciliation information between the opening and closing book values and sensitivity analysis of unobservable parameters

Buy, issue, sell and settle

Profit for the year: Assets and commitments held at the end of the year are transferred to the third party and others.

Item Balance at the beginning of 2026 Balance as of June 30, 2026 Liabilities are included in profit and loss at the third level of the current year and are included in other comprehensive

Included in profit or loss Net sales of purchases Realized gain

income

financial assets

Trading financial assets 13,115,965.37 - - - - -13,115,965.37 - - Receivables financing 403,378,297.24 - - - - -46,118,664.58 357,259,632.66 - Subtotal of financial assets 416,494,262.61 - - - - -59,234,629.95 357,259,632.66 -Financial liabilities

Other non-current liabilities

(Including 768,768,308.54 - - 7,643,651.55 - -237,980,160.00 538,431,800.09 7,643,651.55 other non-current liabilities due within one year)

Subtotal of financial liabilities 768,768,308.54 - - 7,643,651.55 - -237,980,160.00 538,431,800.09 7,643,651.55Total -352,274,045.93 - - -7,643,651.55 - 178,745,530.05 -181,172,167.43 -7,643,651.55

6. For ongoing fair value measurement items, if there is a conversion between various levels during the current period, the reasons for the conversion and the policy for determining the time of conversion

None

7. Valuation technology changes that occurred during the current period and reasons for the changes

None

8. Fair value of financial assets and financial liabilities not measured at fair value

The Group has evaluated monetary funds, accounts receivable, notes receivable, other receivables, other current assets, notes payable, accounts payable, other payables, etc., and believes that most of them are current assets and current liabilities. Since the remaining term is not long, their book value is close to the fair value of these assets and liabilities.

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14. Related parties and related transactions

1. Information about the parent company of this enterprise

Parent company to this enterprise Parent company to this enterprise Parent company name Place of registration Nature of business Registered capital

Proportion of shareholding Proportion of voting rights Lingsheng Investment (Jiangsu) Co., Ltd. Dongtai City, Yancheng City, Jiangsu Province Investment 50 million yuan 50.98% 50.98% Explanation of the parent company of this enterprise

January 17, 2018 On the same day, the company received the "Reply on Approval of Guangdong Jiangfen Magnetic Materials Co., Ltd.'s Issuance of Shares to Lingsheng Investment (Shenzhen) Co., Ltd. and Others" (CSRC License [2018] No. 139) issued by the China Securities Regulatory Commission, approving the company's purchase of assets from Lingsheng Investment (Shenzhen) Co., Ltd. Shenzhen) Co., Ltd., Shenzhen Lingshang Investment Partnership (Limited Partnership), and Shenzhen Lingjie Investment Partnership (Limited Partnership) issued a total of 4,429,487,177.00 shares to purchase 100% of the equity held by them in Lingyi Technology (Shenzhen) Co., Ltd. On January 19, 2018, Lingyi Technology (Shenzhen) Co., Ltd. completed the industrial and commercial change registration procedures for the asset transfer of this transaction. On February 13, 2018, the company completed the registration of new share issuance, and the controlling shareholder was changed to Lingsheng Investment (Shenzhen) Co., Ltd. In July 2023, the name of Leading Investment (Shenzhen) Co., Ltd. was changed to Leading Investment (Jiangsu) Co., Ltd.

The ultimate controller of this enterprise is Zeng Fangqin.

Other instructions: none

2. Information about the company’s subsidiaries

Please refer to Note 10.1 for details of the company's subsidiaries.

3. Information on joint ventures and associated enterprises of the enterprise

Please refer to Note 10.3 for details of the company's important joint ventures or associates.

The situation of other joint ventures or associates that have related party transactions with the company in the current period, or related party transactions with the company in previous periods that resulted in balances is as follows:

Name of joint venture or associated enterprise Relationship with this enterprise

Nanjing Coolco Electronic Technology Co., Ltd. and its subsidiaries (Note 1) The company’s associates

Jiangmen Jiefuyi Magnetic Materials Co., Ltd. An associated company of our company

Guangdong Dongmu New Materials Co., Ltd. An associate of our company

Jiangmen Jianghai District Huitong Small Loan Co., Ltd. An associate of the Company

Jiangmen Martin Motor Technology Co., Ltd. An associate of our company

Jiaxing Chaoxi Hongtai Equity Investment Partnership (Limited Partnership) An associate of the Company

Hunan Saibo Electronics Co., Ltd. An associate of our company

Haining Aotong Auto Parts Co., Ltd. An associated enterprise of our company

Note 1: Nanjing Coolco Electronic Technology Co., Ltd. and its subsidiaries include: Nanjing Coolco Electronic Technology Co., Ltd., Nanjing Coolco Technology Co., Ltd.

4. Other related parties

Names of other related parties Relationship between other related parties and the company

Shenzhen Bochi Electronics Co., Ltd. and its subsidiaries (Note 1) Enterprises indirectly controlled by the actual controller of the company

Leading Investment (Jiangsu) Co., Ltd. and its subsidiaries (Note 2) Enterprises directly controlled by the actual controller of the company

Shenzhen Xiaochen Technology Co., Ltd. is an enterprise over which the controlling shareholder of the company exerts significant influence

Suzhou Huagong Automation Technology Co., Ltd. is an enterprise over which the controlling shareholder of the company exerts significant influence

Guanghong Technology (Investment) Co., Ltd. and its subsidiaries (Note 3) The actual controller of the company and close family members serve as directors and other senior managers of the company. Key management personnel

Note 1: Shenzhen Bochi Electronics Co., Ltd. and its subsidiaries include: Chengdu Bochi Electronic Technology Co., Ltd.; Suzhou Maige New Material Technology Co., Ltd.; Suzhou Bozhenxing Electronics Co., Ltd.; Ningbo Qihe New Material Technology Co., Ltd.; Shenzhen Bochi Electronics Co., Ltd.; Chengdu Bozhenxing Electronic Technology Co., Ltd.

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Note 2: Lingsheng Investment (Jiangsu) Co., Ltd. and its subsidiaries include: Lingsheng Investment (Jiangsu) Co., Ltd.; Bocai Intelligent Technology (Dongtai) Co., Ltd.; Suzhou Lingdao Electronic Technology Co., Ltd.; LS (HK) INVESTMENT LIMITED.

Note 3: Guanghong Technology (Investment) Co., Ltd. and its subsidiaries include: Guanghong Technology (Investment) Co., Ltd.; Guanghong Technology (Vietnam) Co., Ltd.

5. Related transactions

(1) Related transactions related to the purchase and sale of goods, provision and receipt of services

Procurement of goods/service acceptance form

Unit: Yuan

Whether the approved transaction amount exceeds

Related parties Related party transaction content Amount incurred in the current period Amount incurred in the previous period

Transaction amount

Shenzhen Bochi Electronics Co., Ltd. and its purchase of goods and acceptance of labor

212,373,169.75 547,000,000.00 No 231,782,360.10 Subsidiary companies

Leading Investment (Jiangsu) Co., Ltd. and

Purchase goods 45,315.00 45,315.00 No

its subsidiaries

Guangdong Dongmu New Materials Co., Ltd. Purchase of goods 185,414.67 600,000.00 No 230,192.01

Buy goods, receive labor

Suzhou Huagong Automation Technology Co., Ltd. 38,617,643.54 75,000,000.00 No 7,538,719.37

service

Shenzhen Xiaochen Technology Co., Ltd. Purchase of goods 500,000.00 No 3,514.60 Nanjing Coolco Electronic Technology Co., Ltd. and

Purchase of goods 479,227.59 500,000.00 No 54,960.06 Its subsidiaries

Haining Aotong Auto Parts Co., Ltd. Purchase of goods 8,035,130.43 36,000,000.00 No

Total 259,735,900.98 659,645,315.00 239,609,746.14 Other notes: The corresponding execution amount of goods purchased from related parties Lingsheng Investment (Jiangsu) Co., Ltd. and its subsidiaries and Haining Aotong Auto Parts Co., Ltd. in the above table has been approved within the scope of authorization by the general manager.

List of goods sold/services provided

Unit: Yuan

Related parties Related party transaction content Amount incurred in the current period Amount incurred in the previous period

Shenzhen Bochi Electronics Co., Ltd. and

Selling goods and providing services 938,521.65 1,084,138.89 Its subsidiaries

Leading Investment (Jiangsu) Co., Ltd.

Sales of goods 13,804.68 and its subsidiaries

Jiangmen Martin Motor Technology Co., Ltd. Sales of goods 4,212,955.71 3,650,667.21 Jiangmen Jiefuyi Magnetic Materials Co., Ltd. Provision of services 54,920.80 82,381.20 Guangdong Dongmu New Materials Co., Ltd. Sales of goods and provision of services 22,500.36 5,659.51 Suzhou Huagong Automation Technology Co., Ltd.

Provision of labor services 1,404.71 578.39 divisions

Nanjing Coolco Electronic Technology Co., Ltd.

Sales of goods 10,762,973.24 29,364,442.87 and its subsidiaries

Hunan Saibo Electronics Co., Ltd. Sales of goods 40,217.70

Haining Aotong Auto Parts Co., Ltd. Sales of goods 14,679.87

Total 16,048,174.04 34,201,672.75

(2) Related leasing situation

As a lessor, our company:

Unit: Yuan

Name of the lessee Type of leased assets Lease income recognized in the current period Lease income recognized in the previous period Jiangmen Jiefuyi Magnetic Materials Co., Ltd. Factory lease 1,098,831.50 1,071,371.10

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Name of lessee Type of leased assets Lease income recognized in the current period Lease income recognized in the previous period Suzhou Huagong Automation Technology Co., Ltd. Dormitory leasing 5,504.58 5,504.58 Total 1,104,336.08 1,076,875.68 The company as the lessee:

Unit: Yuan

Simplified short-term treatment not included in lease liabilities

Leases and variable leases measured for low-value assets

Rent paid Interest expense on lease liabilities Increased right-of-use assets

Rental fee payment for property lease (if applicable

Lessor Lease capital

Use (if applicable)

Name Product Category

This issue, this issue, the previous issue, the previous issue, the previous issue, this issue

Occurrence Occurrence Amount for the current period Amount for the previous period Amount for the previous period Amount for this period Amount for the current period Amount for the current period

uh uh uh lead the winning bet

Capital (Jiangsu)

Factory rent

limited company

Rental and accommodation 1,799,559.30 845,764.64 32,071,929.77 Company and its

Accommodation rental

Subordinate company

Division

Guang Hongke

Skill (throwing)

Capital) Factory rent

11,243,659.16 1,105,472.69

Co., Ltd. leasing

and below

Belonging to a company

(3) Asset transfer and debt restructuring of related parties

Unit: Yuan

Related parties Contents of related transactions Amount for the current period Amount for the previous period Lingsheng Investment (Jiangsu) Co., Ltd.

Purchase of assets 830,738.00 203,539.98 and its subsidiaries

Total 830,738.00 203,539.98

(4) Remuneration of key management personnel

Unit: Yuan

Item Amount for the current period Amount for the previous period

Remuneration of key management personnel 6,629,422.04 9,644,075.68 The company's key management personnel confirmed share-based payment expenses due to the shares granted to the employee stock ownership plan. These expenses were not included in the above-mentioned remuneration of key management personnel. Among them, the share-based payment expenses confirmed from January to June 2026 were RMB 3,150,875.04. Among the above-mentioned remuneration of key management personnel, the amount from January to June 2025 includes the remuneration received by the supervisors during their tenure.

(5) Other related transactions

From January to June 2026, the company, as the lessee, collected and paid water and electricity bills of RMB 2,190,098.13 due to the leasing business with its related party Lingsheng Investment (Jiangsu) Co., Ltd. and its subsidiaries.

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6. Accounts receivable and payable from related parties

(1) Items receivable

Unit: Yuan

Closing balance Beginning balance item name Related parties

Book balance Provision for bad debts Book balance Provision for bad debts

Accounts receivable Shenzhen Bochi Electronics Co., Ltd. and its subsidiaries 210,165.73 10,508.29 272,481.80 13,624.09 Accounts receivable Jiangmen Martin Electric Technology Co., Ltd. 4,910,543.63 245,527.18 4,965,058.49 248,252.92 Accounts receivable Nanjing Coolco Electronic Technology Co., Ltd. and its subsidiaries 9,709,017.96 485,923.35 8,647,239.47 432,361.97 Accounts receivable Guangdong Dongmu New Materials Co., Ltd. 9,627.80 481.39

Accounts receivable Haining Aotong Auto Parts Co., Ltd. 16,588.26 829.41

Accounts receivable Hunan Saibo Electronics Co., Ltd. 45,446.00 2,272.30

Subtotal 14,901,389.38 745,541.92 13,884,779.76 694,238.98 Prepaid accounts Shenzhen Bochi Electronics Co., Ltd. and its subsidiaries 348,591.46

Prepaid accounts Lingsheng Investment (Jiangsu) Co., Ltd. and its subsidiaries 15,361.79

Subtotal 0.00 0.00 363,953.25

Other receivables Guanghong Technology (Investment) Co., Ltd. and its subsidiaries 4,431,781.40 221,589.07 Subtotal 0.00 0.00 4,431,781.40 221,589.07 Other non-current assets Suzhou Huagong Automation Technology Co., Ltd. 765,486.73

Other non-current assets Lingsheng Investment (Jiangsu) Co., Ltd. and its subsidiaries 187,016.70

Subtotal 0.00 0.00 952,503.43

Dividends receivable Jiangmen Jianghai District Huitong Small Loan Co., Ltd. 5,000,000.00 5,000,000.00 5,000,000.00 5,000,000.00 Dividends receivable Jiaxing Chaoxi Hongtai Equity Investment Partnership (Limited Partnership) 176,107.02

Dividends receivable Jiangmen Martin Electric Technology Co., Ltd. 720,000.00

Subtotal 5,896,107.02 5,000,000.00 5,000,000.00 5,000,000.00

(2) Items payable

Unit: Yuan

Project name Related party Book balance at the end of the period Book balance at the beginning of the period

Accounts payable Leading Investment (Jiangsu) Co., Ltd. and its subsidiaries 868,286.04 134,983.83 Accounts payable Shenzhen Bochi Electronics Co., Ltd. and its subsidiaries 77,913,670.30 77,151,716.18 Accounts payable Guangdong Dongmu New Materials Co., Ltd. 122,804.69 158,193.08

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Project name Related parties Book balance at the end of the period Book balance at the beginning of the period Accounts payable Nanjing Coolco Electronic Technology Co., Ltd. and its subsidiaries 457,916.49 53,607.04 Accounts payable Suzhou Huagong Automation Technology Co., Ltd. 30,233,264.18 15,772,224.10 Accounts payable Shenzhen Xiaochen Technology Co., Ltd. 305.50 Accounts payable Haining Aotong Auto Parts Co., Ltd. 4,515,293.18

Subtotal 114,111,234.88 93,271,029.73 Other payables Suzhou Huagong Automation Technology Co., Ltd. 1,000.00 1,000.00 Other payables Lingsheng Investment (Jiangsu) Co., Ltd. and its subsidiaries 1,515,756.22 5,529.82Subtotal 1,516,756.22 6,529.82 Accounts received in advance Suzhou Huagong Automation Technology Co., Ltd. 1,000.00 1,000.00 Subtotal 1,000.00 1,000.00

15. Share-based payment

1. Overall situation of share-based payment

Applicable □Not applicable

Unit: Yuan

Granted in this period, exercised in this period, unlocked in this period, expired in this period, category of grant objects

Quantity Amount Quantity Amount Quantity Amount Quantity Amount 2024 stock option incentive plan: for the company’s core backbone 4,056,000.00 6,465,782.96 2024 employee stock ownership plan: for the company’s directors (excluding independent directors), supervisors, senior managers and the company

core backbone

2025 Stock Option Incentive Plan: For the core backbone of the company 4,818,500.00 23,575,040.25 2025 Employee Stock Ownership Plan: For the core backbone of the company

Total 8,874,500.00 30,040,823.21

Stock options or other equity instruments outstanding at the end of the period

Applicable □Not applicable

Stock options outstanding at the end of the period Other equity instruments outstanding at the end of the period

Category of Awarded Objects Contract Remaining Range of Exercise Prices of Remaining Contracts Range of Exercise Prices

Term Remaining term 2024 Stock Option Incentive Plan: First vested on September 18, 2024 (2024 Stock Option Incentive Plan) 15 months

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Stock options outstanding at the end of the period Other equity instruments outstanding at the end of the period

Category of Awarded Objects Contract Remaining Range of Exercise Prices of Remaining Contracts Range of Exercise Prices

term remaining term

The first exercise price of stock options for the company's core backbone is 4.46 yuan/share, and the unlocking time points are

The first delivery 12 months, 24 months, and 36 months from the date of first grant

From the trading day to the last trading day within 24 months from the date of grant,

The proportions of underlying stocks unlocked in each period are 40%, 30%, and 30% respectively.

The grant price of the restricted shares first granted under the 2024 Employee Stock Ownership Plan is 3.48 yuan/share for the company. The underlying stocks held by the Employee Stock Ownership Plan will be unlocked in three phases.

After 12 months, 24 months, and 36 months from the date when the 16-month plan is approved by the senior management and the company and the company announces that the last tranche of the underlying stock is transferred to the name of the key personnel of the employee stock ownership plan, the proportion of the underlying stock unlocked in each period will be 40%, 30%, and 30% respectively.

Reserved shares granted on August 6, 2025 (2024 Stock Option Incentive Plan)

The first exercise price of the option is 4.44 yuan/share, and the unlocking time is surrender.

2025 Stock Option Incentive Plan:

The first trading day after 12 months, 24 months, and 36 months from the date of grant 25 months

As the core backbone of the company

Starting from the last trading day within 24 months from the date of grant, each period

The proportions of underlying stocks unlocked are 40%, 30%, and 30% respectively.

The grant price of the restricted stock first granted under the Employee Stock Ownership Plan in 2025 is

4.47 yuan/share. The underlying stocks held by this employee stock ownership plan will be unlocked in three phases. The 2025 employee stock ownership plan: the company’s unlocking time points will be after the draft of the employee stock ownership plan is reviewed by the company’s shareholders’ meeting.

12 months, 24 months, and 36 months after the 29-month core backbone meeting is passed and the company announces the transfer of the last underlying stock to the name of the employee stock ownership plan, the proportion of underlying stocks unlocked in each period will be 30%, 30%, and 40% respectively.

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Other notes:

Note 1: On July 26, 2024, the company held the second meeting of the sixth board of directors, and reviewed and approved the "Proposal on the Company's "2024 Stock Option Incentive Plan (Revised Draft)" and its Summary, "The Proposal on the Company's "2024 Stock Option Incentive Plan Implementation Assessment and Management Measures (Revised Draft)" and other proposals. On August 14, 2024, the company held the third extraordinary general meeting of shareholders in 2024, and passed the "Proposal on the Company's 2024 Stock Option Incentive Plan (Revised Draft)" and its Summary with a special resolution. Date of first grant: September 18, 2024; Number of registrations for first grant: 188.61 million; First exercise price: 4.46 yuan/share; Incentive objects and number of stock options granted: A total of 1,410 incentive objects were granted for the first time, and the number of first grants was 188.61 million.

Note 2: The company held the second meeting of the sixth board of directors and the third extraordinary general meeting of shareholders in 2024 on July 26, 2024 and August 14, 2024 respectively, and reviewed and approved the "Proposal on the Company's "2024 Employee Stock Ownership Plan (Draft)" and its Summary" and related proposals, and agreed to the company's implementation of the employee stock ownership plan. The company has received the "Securities Transfer Registration Confirmation" issued by the Shenzhen Branch of China Securities Depository and Clearing Co., Ltd., and the 30.034872 million company stocks held in the company's special securities account for repurchase have been repurchased in November 2024. On March 5, non-trading transfers were made to the special securities account of "Guangdong Lingyi Intelligent Manufacturing Co., Ltd.-2024 Employee Stock Ownership Plan" opened by the company. The number of transferred shares accounted for 0.43% of the company's total share capital, and the transfer price was 3.48 yuan/share.

Note 3: The company held the 6th meeting of the Remuneration and Assessment Committee of the 6th Board of Directors and the 16th meeting of the 6th Board of Directors on August 6, 2025, and reviewed and approved the "Proposal on Granting Reserved Stock Options for the 2024 Stock Option Incentive Plan to Incentive Objects" and determined 2 The grant date of reserved stock options under the 024 Stock Option Incentive Plan (hereinafter referred to as the "Incentive Plan") is August 6, 2025. 47.1625 million stock options will be granted to 395 incentive targets who meet the grant conditions, with an exercise price of 4.44 yuan per share.

Note 4: The company held the 7th meeting of the Remuneration and Assessment Committee of the 6th Board of Directors and the 18th meeting of the 6th Board of Directors on September 8, 2025, and reviewed and approved the "Proposal on the Achievement of the Exercise Conditions for the First Exercise Period of the First Grant of Stock Options under the 2024 Stock Option Incentive Plan". According to the relevant provisions of the "Measures for the Administration of Equity Incentives for Listed Companies" and "Guangdong Lingyi Intelligent Manufacturing Co., Ltd. 2024 Stock Option Incentive Plan (Revised Draft)", the board of directors believes that the conditions for the exercise of the first exercise period of the stock options first granted under the company's 2024 stock option incentive plan (hereinafter referred to as the "Incentive Plan") have been met. A total of 1,299 incentive objects are eligible for the first exercise period of the initial grant of stock options this time, corresponding to a total of 66.706 million exercisable stock options.

Note 5: On October 28, 2025, the company held the 20th meeting of the sixth board of directors and the eighth meeting of the remuneration and assessment committee of the sixth board of directors. The meeting reviewed and approved the "Regulations on the Expiration of the First Lock-up Period and Achievement of Unlocking Conditions of the Employee Stock Ownership Plan in 2024" "Proposal", the board of directors believes that the company-level performance assessment indicators for 2024 in the first lock-up period meet the standards. After review, the target number of unlocked shares in the first lock-up period of this employee stock ownership plan is 12,013,948 shares, and the shares that meet the unlocking conditions are 12,013,948 shares.

Note 6: The company held the 14th meeting of the sixth board of directors and the third extraordinary shareholders' meeting in 2025 on June 17, 2025 and September 16, 2025 respectively, and reviewed and approved the "Proposal on the Company's "2025 Employee Stock Ownership Plan (Draft)" and its Summary" and related proposals, and agreed to the company's implementation of the employee stock ownership plan. The company has opened a special securities account for this employee stock ownership plan at the Shenzhen Branch of China Securities Depository and Clearing Co., Ltd. The name of the securities account is "Guangdong Lingyi Intelligent Manufacturing Co., Ltd.-2025 Employee Stock Ownership Plan". The 26,400,000 shares of the company held in the company's special securities account for repurchase have been transferred to the "Guangdong Lingyi Intelligent Manufacturing Co., Ltd.-2025 Employee Stock Ownership Plan" special securities account opened by the company on December 19, 2025. The number of transferred shares accounts for 0.36% of the company's total share capital, and the transfer price is 4.47 yuan/share.

2. Equity-settled share-based payment

Applicable □Not applicable

Unit: Yuan

Method for determining the fair value of equity instruments on the grant date Black-Scholes model/stock trading price on the grant date

Important parameters of fair value of equity instruments on grant date Closing price of stock on grant date

The basis for determining the number of exercisable equity instruments is based on the industry and company turnover rate.

Reasons for significant differences between the current period’s estimate and the previous period’s estimate None

The cumulative amount of equity-settled share-based payments included in capital reserves 827,461,215.14

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Total expenses recognized for equity-settled share-based payment in the current period 192,196,222.33 Other notes: None

3. Share-based payment settled in cash

□Applicable Not applicable

4. Share-based payment expenses for this period

Applicable □Not applicable

Unit: Yuan

Category of grant objects Equity-settled share-based payment expenses Cash-settled share-based payment expenses 2024 stock option incentive plan: for the company’s core backbone

2024 Employee Stock Ownership Plan: For company directors (excluding independent directors), supervisors

officers, senior managers and core members of the company 192,196,222.33

2025 Stock Option Incentive Plan: For the core backbone of the company

2025 Employee Stock Ownership Plan: Core Backbone of the Company

Total 192,196,222.33

Other instructions

None

16. Commitments and contingencies

1. Important commitments

Important commitments existing at the balance sheet date

Unit: Yuan

Item Ending balance Beginning balance

Contracted 2,247,345,230.94 4,762,264,748.31 Authorized but not contracted 273,601,756.55 570,304,394.67

Total 2,520,946,987.49 5,332,569,142.98

2. Contingent matters

(1) Important contingencies existing on the balance sheet date

Other matters

On February 8, 2021, Lingyi Industrial (Zhuhai) Co., Ltd. (hereinafter referred to as "Zhuhai Lingyi") and the Doumen District People's Government of Zhuhai City (hereinafter referred to as Doumen District Government) signed the "Lingyi Intelligent Manufacturing Machine Assembly Project Support Fund Use and Supervision Agreement" (hereinafter referred to as the "Support Fund Fund Agreement"), it was agreed that the Doumen District Investment Promotion Bureau (now known as Zhuhai Doumen District Investment Promotion Center), an administrative department under the jurisdiction of the Doumen District Government, would allocate a one-time project support fund of RMB 160 million to Zhuhai Lingyi, specifically to support Lingyi's Zhuhai complete machine assembly project. Since the construction progress of the complete machine assembly project was not as expected, Zhuhai Lingyi received the "Administrative Decision" from the Doumen District Government on January 21, 2025, requiring Zhuhai Lingyi to return the relevant support funds of 160 million yuan and compensate for the loss of fund occupation.

On July 9, 2025, Zhuhai Lingyi filed an administrative lawsuit against the Doumen District People's Government of Zhuhai City and the Zhuhai Municipal People's Government in the Zhuhai Intermediate People's Court. On March 12, 2026, Zhuhai Lingyi received the "Administrative Judgment" from the Zhuhai Intermediate People's Court. The first-instance judgment rejected Zhuhai Lingyi's lawsuit. At present, Zhuhai Lingyi has taken action on this matter

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Xiang appealed to the Guangdong Provincial Higher People's Court and received the appeal acceptance notice from the Guangdong Provincial Higher People's Court on July 22, 2026.

As of the disclosure date of this report, the cumulative amount of other income recognized for this government subsidy is 1.4691 million yuan. The remaining amount is reported in other payables, and relevant fund occupation fees have been accrued.

(2) If the company has no important contingencies that need to be disclosed, this should also be explained.

The company has no important contingencies that need to be disclosed.

3. Others

None

17. Events after the balance sheet date

1. Profit distribution

Proposed dividend distribution per 10 shares (yuan) 0.2 In order to actively reward investors and comprehensively consider the company's operating performance and long-term development, the company's board of directors has formulated a profit distribution plan for the first half of 2026 as follows: As of July 31, 2026, the company deducts repurchases The total share capital held by the special account is 8,076,077,727 shares. A cash dividend of 0.2 yuan (tax included) will be distributed for every 10 shares. No bonus shares will be given, and no public reserve will be converted into share capital. The company plans to distribute a total of cash dividends.

161,521,554.54 yuan (tax included). Profit distribution plan from July 31, 2026 until the implementation of equity distribution equity registration date

During the period, if the company's total share capital changes due to share repurchases, equity incentive exercise, etc., it is planned to adjust the total dividend accordingly based on the principle that the distribution ratio per share remains unchanged. This cash dividend is denominated and declared in RMB, of which A-share dividends are paid in RMB and H-share dividends are paid in Hong Kong dollars. The actual amount of H-share dividends distributed is calculated based on the central parity rate of RMB to Hong Kong dollars announced by the People's Bank of China on the working day before the 28th meeting of the company's sixth board of directors.

18. Other important matters

1. Branch information

(1) Determination basis and accounting policies of reporting segments

Combining the company's product customer application fields, business distribution and future strategies, in order to reflect the company's business situation more scientifically and accurately, the company adjusted the business classification caliber and divided the products into three major categories: AI hardware, automobiles and low-altitude economy.

(2) Financial information of reporting segments

Unit: Yuan Project AI Hardware Automobile and Low-altitude Economy Others Inter-segment eliminations Total

Operating income 20,463,843,050.36 3,527,792,857.90 1,157,497,771.11 25,149,133,679.37 Operating costs 16,888,160,635.87 3,030,915,273.96 1,023,592,152.17 20,942,668,062.00

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19. Notes on main items of the parent company’s financial statements

1. Accounts receivable

(1) Disclosure based on aging

Unit: Yuan

Aging Book balance at the end of the period Book balance at the beginning of the period

Within 1 year (including 1 year) 589,744,393.13 483,157,939.66 1 to 2 years 268,723.80 241,584.97 2 to 3 years 0.00 0.00 More than 3 years 31,803,566.95 31,803,566.95 3 to 4 years 0.00 0.00 4 to 5 years 0.00 0.00

More than 5 years 31,803,566.95 31,803,566.95 Total 621,816,683.88 515,203,091.58

(2) Classified disclosure according to bad debt accrual method

Unit: Yuan Ending balance Beginning balance

Book balance Provision for bad debts Book balance Provision for bad debts

Category

Provision Ratio Book Value Provision Ratio Book Value Amount Ratio Amount Amount Ratio Amount

Example Example

Provision based on individual items

Provision for bad debts 31,803,566.95 5.11% 31,803,566.95 100.00% 0.00 31,803,566.95 6.17% 31,803,566.95 100.00% 0.00 Accounts receivable

Among them:

Provision based on combination

Provision for bad debts 590,013,116.93 94.89% 27,003,595.42 4.58% 563,009,521.51 483,399,524.63 93.83% 22,583,112.15 4.67% 460,816,412.48 Accounts receivable

Among them:

Combination 1: Account

539,803,184.62 86.82% 27,003,595.42 5.00% 512,799,589.20 451,420,658.03 87.62% 22,583,112.15 5.00% 428,837,545.88 Age analysis combination

Combination 2: Top

City company merger

50,209,932.31 8.07% 0.00 0.00% 50,209,932.31 31,978,866.60 6.21% 0.00 0.00% Related within the range of 31,978,866.60

Square

Total 621,816,683.88 100.00% 58,807,162.37 9.46% 563,009,521.51 515,203,091.58 100.00% 54,386,679.10 10.56% 460,816,412.48 Category name of bad debt provision for individual items: Accounts receivable for which bad debt provision is made for individual items

Unit: Yuan

Beginning balance Closing balance

Name

Book balance Bad debt provision Book balance Bad debt provision Provision ratio Reason for provision Accounts receivable for which bad debt provision is made individually 31,803,566.95 31,803,566.95 31,803,566.95 31,803,566.95 100.00% Total that is not expected to be recovered in full 31,803,566.95 31,803,566.95 31,803,566.95 31,803,566.95

Category names of bad debt provisions accrued by portfolio:

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Unit: Yuan ending balance

Name

Book balance Bad debt provision Provision ratio

Portfolio 1: Aging analysis portfolio 539,803,184.62 27,003,595.42 5.00% Portfolio 2: Related parties within the consolidated scope of listed companies 50,209,932.31 0.00% Total 590,013,116.93 27,003,595.42

Description of what this combination is based on:

None

If bad debt provisions for accounts receivable are made according to the general expected credit loss model:

□Applicable Not applicable

(3) Bad debt provisions accrued, recovered or reversed in the current period

Bad debt provisions for the current period:

Unit: Yuan Amount of changes in the current period

Category Beginning Balance Ending Balance

Provision Recovery or transfer Write-off Others

Individual provision for expected credit losses

31,803,566.95 31,803,566.95 Lost accounts receivable

Provision of expected credit on a portfolio basis

22,583,112.15 4,420,483.27 27,003,595.42 Lost accounts receivable

Total 54,386,679.10 4,420,483.27 58,807,162.37 Among them, the amount of bad debt provision recovery or reversal in the current period is important:

None

(4) Accounts receivable actually written off in the current period

None

(5) Accounts receivable and contract assets with the top five closing balances collected by debtors

Unit: yuan accounts receivable and combined accounts receivable, bad debts, quasi-accounts receivable, ending balance, contract assets, ending balance, accounts receivable and contracts

Unit name Closing balance of same assets Provision and contract asset reduction balance Closing balance of assets

Proportion of the total amount Value preparation closing balance No. 1 416,692,467.31 416,692,467.31 67.01% 20,834,623.37 No. 2 70,025,653.10 70,025,653.10 11.26% 3,501,282.66 No. 3 44,043,287.59 44,043,287.59 7.08%

Fourth place 40,704,976.51 40,704,976.51 6.55% 2,035,248.83 Fifth place 18,189,209.30 18,189,209.30 2.93% 18,189,209.30 Total 589,655,593.81 589,655,593.81 94.83% 44,560,364.16

2. Other receivables

Unit: Yuan

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Item Ending balance Beginning balance Dividends receivable 176,107.02

Other receivables 8,197,743,956.36 9,124,929,620.35 Total 8,197,920,063.38 9,124,929,620.35

(1) Dividends receivable

1. Classification of dividends receivable

Unit: Yuan

Project (or invested unit) Closing balance Opening balance Jiaxing Chaoxi Hongtai Equity Investment Partnership (Limited Partnership) 176,107.02

Jiangmen Jianghai District Huitong Small Loan Co., Ltd. (Note)

Total 176,107.02

Note: Bad debt provisions have been fully accrued in the previous period

2. Important dividends receivable aged more than 1 year

None

3. Classified disclosure according to bad debt accrual method

Applicable □Not applicable

Unit: Yuan Ending balance Beginning balance

Book balance Bad debt provision Book balance Bad debt provision category

Book value Provision ratio Book value amount Proportion Amount Provision proportion Amount Proportion Amount

For example, accrue 100.00 on a single basis

5,000,000.00 5,000,000.00 100.00% 0.00 5,000,000.00 100.00% 5,000,000.00 100.00% 0.00Bad debt provision %

Among them:

Among them:

100.00

Total 5,000,000.00 5,000,000.00 100.00% 0.00 5,000,000.00 100.00% 5,000,000.00 100.00% 0.00

%

Category name of bad debt provision for individual items:

Unit: Yuan Beginning balance Ending balance

Name

Book balance Bad debt provision Book balance Bad debt provision Provision ratio Reason for provision Jianghai District, Jiangmen City

Huitong Small Loan 5,000,000.00 5,000,000.00 5,000,000.00 5,000,000.00 100.00% It is expected that the joint stock company cannot be recovered

Total 5,000,000.00 5,000,000.00 5,000,000.00 5,000,000.00

Provision for bad debts based on the general expected credit loss model: None

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(2) Other receivables

1. Classification of other receivables according to nature of payment

Unit: Yuan

Nature of payment Book balance at the end of the period Book balance at the beginning of the period

Accounts with related parties 8,197,332,023.71 9,124,819,783.72 Prepaid bulk trade accounts 74,471,740.67 74,471,740.67 Accounts with external units 22,042,558.04 8,082,586.85 Deposit guarantee 435,020.56 405,020.56 Total 8,294,281,342.98 9,207,779,131.80

2. Disclosure based on aging

Unit: Yuan

Aging Book balance at the end of the period Book balance at the beginning of the period

Within 1 year (including 1 year) 8,211,343,511.51 9,124,861,300.33 1 to 2 years 24,452.00 4,452.00 2 to 3 years 74,250.00 74,250.00 More than 3 years 82,839,129.47 82,839,129.47 3 to 4 years 11,818.10 4 to 5 years 13,978.10 2,160.00

More than 5 years 82,825,151.37 82,825,151.37 Total 8,294,281,342.98 9,207,779,131.80

3. Classified disclosure according to bad debt accrual method

Unit: Yuan

Ending balance Beginning balance

Category Book balance Bad debt provision Book balance Bad debt provision

book value book value

Amount Proportion Amount Provision proportion Amount Proportion Amount Provision proportion

Provision for bad debts on an individual basis 96,134,005.42 1.16% 96,134,005.42 100.00% 82,463,082.67 0.90% 82,463,082.67 100.00%

Among them:

Provision of expected credit on an individual basis

96,134,005.42 1.16% 96,134,005.42 100.00% 82,463,082.67 0.90% 82,463,082.67 100.00%

Loss of other receivables

Provision for bad debts on a group basis 8,198,147,337.56 98.84% 403,381.20 0.01% 8,197,743,956.36 9,125,316,049.13 99.10% 386,428.78 0.01% 9,124,929,620.35 of which:

Combination 1: Aging analysis group

815,313.85 0.01% 403,381.20 49.48% 411,932.65 496,265.41 0.01% 386,428.78 77.87% 109,836.63 combined

Portfolio 2: listed companies

8,197,332,023.71 98.83% 8,197,332,023.71 9,124,819,783.72 99.09% 9,124,819,783.72 Related parties within the scope

Total 8,294,281,342.98 100.00% 96,537,386.62 1.16% 8,197,743,956.36 9,207,779,131.80 100.00% 82,849,511.45 0.90% 9,124,929,620.35 Category name of bad debt provision accrued on an individual basis: Other receivables with expected credit losses accrued on an individual basis

Unit: Yuan Beginning balance Ending balance

Name

Book balance Bad debt provision Book balance Bad debt provision Provision ratio Reason for provision Expected credit losses on an individual basis 82,463,082.67 82,463,082.67 96,134,005.42 96,134,005.42 100.00% It is not expected to be fully recovered

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of other receivables

Total 82,463,082.67 82,463,082.67 96,134,005.42 96,134,005.42

Category names of bad debt provisions accrued by portfolio:

Unit: Yuan ending balance

Name

Book balance Bad debt provision Provision ratio

Portfolio 1: Aging analysis portfolio 815,313.85 403,381.20 49.48% Portfolio 2: Related parties within the consolidated scope of listed companies 8,197,332,023.71

Total 8,198,147,337.56 403,381.20

Description of what this combination is based on:

Provision for bad debts is made based on the general expected credit loss model:

Unit: Yuan Phase 1 Phase 2 Phase 3

Lifetime expectations letter Lifetime expectations

Provision for bad debts Expected letter for next 12 months Total

loss of use (credit has not occurred) credit loss (issued

use loss

credit impairment)

Balance on January 1, 2026 386,428.78 82,463,082.67 82,849,511.45 Balance on January 1, 2026 in the current period

Provision for the current period 16,952.42 13,670,922.75 13,687,875.17 Balance on June 30, 2026 403,381.20 96,134,005.42 96,537,386.62 Basis for division of each stage and provision ratio for bad debts

4. Bad debt provisions accrued, recovered or reversed in the current period

Bad debt provisions for the current period:

Unit: Yuan

Amount of changes in the current period

Category Beginning Balance Ending Balance

Provision Recovery or transfer Write-off or write-off Others

Other receivables with expected credit losses accrued on a single basis 82,463,082.67 13,670,922.75 96,134,005.42 Other receivables with expected credit losses accrued on a group basis 386,428.78 16,952.42 403,381.20Total 82,849,511.45 13,687,875.17 96,537,386.62 Among them, the amount of bad debt provision reversed or recovered in the current period is important: None

5. Other receivables with the top five closing balances collected by debtors

Unit: Yuan accounted for other receivable period

Name of the unit with the ending balance of bad debt provision Nature of the payment Ending balance Aging Total ending balance

Um

Proportion

No. 1 Related party transactions 1,574,761,760.31 Within 1 year 18.99%

Second place: Funds from related parties 918,388,801.60 Within 1 year 11.07%

Third place Accounts with related parties 628,000,000.00 Within 1 year 7.57%

Fourth place: Accounts with related parties 613,270,000.00 Within 1 year 7.39%

Fifth place: Current accounts with related parties 564,071,568.00 Within 1 year 6.80%

Total 4,298,492,129.91 51.82%

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3. Long-term equity investment

Unit: Yuan

Ending balance Beginning balance

Project

Book balance Impairment provision Book value Book balance Impairment provision Book value

Investment in subsidiaries 29,184,453,654.93 5,500,000.00 29,178,953,654.93 28,057,781,467.29 5,500,000.00 28,052,281,467.29

Investment in associates and joint ventures

243,821,965.78 26,140,092.03 217,681,873.75 241,841,808.90 26,140,092.03 215,701,716.87 capital

Total 29,428,275,620.71 31,640,092.03 29,396,635,528.68 28,299,623,276.19 31,640,092.03 28,267,983,184.16

(1) Investment in subsidiaries

Unit: Yuan

Increases and decreases in the current period

The opening balance (book price and impairment provision at the beginning of the period) and the ending balance (book price and impairment provision at the end of the period) of the invested unit reduce investment.

Value) Balance Additional investment Provision for impairment Others Value) Balance

Capital

Lingyi Technology (Shenzhen) Co., Ltd. 21,594,000,000.00 21,594,000,000.00 Dongguan Xinyan Precision Tool Co., Ltd. 21,052,506.30 21,052,506.30 Jiangmen Jiangyi Magnetic Materials Co., Ltd. 403,635,600.00 403,635,600.00 Heshan Jiangfen Magnetic Materials New Materials Co., Ltd. 75,000,000.00 75,000,000.00 Jiangfen Magnetic Materials International Holdings Co., Ltd. 37,897,217.03 37,897,217.03 Jiangmen Anci Electronics Co., Ltd. 38,998,810.03 38,998,810.03 Jiangmen Enfuxin Electronic Materials Co., Ltd. 3,067,021.92 3,067,021.92 Jiangmen Chuangfu Investment Management Co., Ltd. 36,135,744.51 36,135,744.51 Jiangmen Zhengxi Mechanical Equipment Co., Ltd. 40,565,900.00 40,565,900.00 Shenzhen Qianhai Fangyuan Commercial Factoring Co., Ltd. 100,000,000.00 100,000,000.00 Jiangmen Jinci Magnetic Materials Co., Ltd. 5,500,000.00 5,500,000.00 Jiangfen Magnetic Materials (Wuhan) Technology Research and Development Co., Ltd. 20,000,000.00 20,000,000.00 Lingchao (Guangzhou) Private Equity Investment Fund Management

2,695,579.46 2,695,579.46 Co., Ltd.

Zhengzhou Lingye Technology Co., Ltd. 10,000,000.00 10,000,000.00 Shenzhen Lingyi Technology Supply Chain Management Co., Ltd. 10,000,000.00 10,000,000.00

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8,000,000.00 8,000,000.00 units)

Dongguan Lingrui Technology Co., Ltd. 100,000,000.00 100,000,000.00

191,6

Equity incentive confirmed long-term investment 602,321,675.22 72,18 793,993,862.86

7.64

Shenzhen Lingyi Robot Technology Co., Ltd. 15,000,000.00 5,000,000.00 20,000,000.00 Shenzhen Lingfu Robot Technology Co., Ltd. 10,000,000.00 10,000,000.00 Dongguan Liminda Electronic Technology Co., Ltd. 875,000,000.00 875,000,000.00

191,6

Total 28,052,281,467.29 5,500,000.00 935,000,000.00 72,18 29,178,953,654.93 5,500,000.00

7.64

(2) Investment in associates and joint ventures

Unit: Yuan

Increases and decreases in the current period

Beginning balance (book value of impairment provision at the beginning of the period, impairment provision at the end of the period) Investment unit additional investment recognized under the equity method Other comprehensive income Declared cash dividends or accrued less value of its closing balance (book value) Amount of investment reduction Other changes in equity

Investment Profit and Loss Adjustment Profit Value Provision He

1. Joint ventures

2. Joint ventures

Jiangmen Jiefuyi Magnetic Materials

48,012,997.97 1,110,429.41 49,123,427.38 Co., Ltd.

Huitong, Jianghai District, Jiangmen City

Small Loan Co., Ltd. 26,140,092.03 26,140,092.03 Company

Guangdong Dongmu New Materials Co., Ltd.

92,448,784.02 2,647,939.26 397,355.79 4,800,000.00 90,694,079.07 Co., Ltd.

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40,708,640.94 9,114,425.70 33,028.77 49,856,095.41 Co., Ltd.

Jiaxing Chaoxi Hongtai Equity

Investment partnership (34,531,293.94 7,288,232.54 18,278,272.93 17,513,062.44 28,008,271.89 limited partnership)

Subtotal 215,701,716.87 26,140,092.03 7,288,232.54 31,151,067.30 33,028.77 397,355.79 22,313,062.44 217,681,873.75 26,140,092.03

Total 215,701,716.87 26,140,092.03 7,288,232.54 31,151,067.30 33,028.77 397,355.79 22,313,062.44 217,681,873.75 26,140,092.03

The recoverable amount is determined as the net amount after fair value minus disposal costs.

□Applicable Not applicable

The recoverable amount is determined based on the present value of the estimated future cash flows. The recoverable amount is determined based on the present value of the estimated future cash flows.

□Applicable Not applicable

(3) Other instructions

None

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4. Operating income and operating costs

Unit: Yuan Amount of current period Amount of previous period

Project

Revenue Cost Revenue Cost Main business 790,191,264.32 767,420,969.57 794,304,167.66 775,948,856.53 Other business 33,085,271.78 4,351,095.57 25,414,205.30 2,528,720.69 Total 823,276,536.10 771,772,065.14 819,718,372.96 778,477,577.22

5. Investment income

Unit: Yuan

Item Amount for the current period Amount for the previous period

Long-term equity investment income calculated using the equity method 31,151,067.30 10,319,865.57 Others 2,876,797.72 4,252,295.02 Total 34,027,865.02 14,572,160.59

20. Supplementary information

1. Detailed statement of non-recurring profits and losses for the current period

Applicable □Not applicable

Unit: Yuan

Item Amount Description Profit and loss from disposal of non-current assets 286,524.90

Government subsidies included in the current profit and loss (closely related to the company's normal business operations, in compliance with national policies and regulations, and in accordance with

150,139,508.29

Except for government subsidies that are enjoyed according to determined standards and have a lasting impact on the company’s profits and losses)

In addition to the effective hedging business related to the company's normal operating business, non-financial enterprises hold financial assets and financial assets.

292,206,199.74

Gains and losses from changes in fair value of financial liabilities and gains and losses from the disposal of financial assets and financial liabilities

Reversal of impairment provision for accounts receivable subject to separate impairment test 45,915.36

Other non-operating income and expenses other than the above items -8,048,104.04

Other profit and loss items that meet the definition of non-recurring profits and losses 3,525,481.74

Less: Income tax impact 61,178,298.26

Amount of impact on minority shareholders’ equity (after tax) 2,114,056.78

Total 374,863,170.95 --Details of other profit and loss items that meet the definition of non-recurring profits and losses:

Applicable □Not applicable

Other profit and loss items that meet the definition of non-recurring profits and losses are mainly tax deductions and tax benefits included in other income.

Explanation on defining the non-recurring profit and loss items listed in the "Explanatory Announcement No. 1 on Information Disclosure of Companies Publicly Offering Securities - Non-recurring Profit and Loss" as recurring profit and loss items

□Applicable Not applicable

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2. Return on net assets and earnings per share

Weighted average net assets, earnings per share, profit for the reporting period

Profit rate Basic earnings per share (yuan/share) Diluted earnings per share (yuan/share) Net profit attributable to the company’s ordinary shareholders 3.14% 0.11 0.10 After deducting non-recurring gains and losses, net profit attributable to the company’s ordinary shareholders

1.60% 0.05 Net profit of 0.05 shareholders

3. Differences in accounting data under domestic and foreign accounting standards

Not applicable

4. Others

None

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