Stock code: 688390 Stock abbreviation: Goodway Announcement No.: 2024-032.

Goodway Technologies, Inc.

Announcement on Cancelling the Amount of Guarantee Provided to External Countries for Conducting Distributed Business

the company's board of directors and all directors to ensure that the contents of this announcement does not exist any false records, misleading statements or major omissions, and the authenticity, accuracy and completeness of the contents of the legal responsibility.

Important Content Tips:

The guarantor of the cancellation of the guarantee: Goodway Technology Co., Ltd. (hereinafter referred to as the "Company"), the guarantor: the individual or organization that meets the conditions for purchasing distributed photovoltaic power generation products and services (hereinafter referred to as the "financier"), There is no relationship with the company.

The amount of guarantee canceled this time and the balance of guarantee actually provided for it: the amount of guarantee canceled this time is 0.2 billion yuan. As of the date of this announcement, the company and its subsidiaries have actually provided guarantees for the amount of 0.

Accumulated amount of overdue external guarantee: 0 yuan.

This matter has been deliberated at the 23rd meeting of the third board of directors of the company and needs to be submitted to the general meeting of shareholders for deliberation.

Summary of 1. previous guarantee

The company held the 26th meeting of the second board of directors on December 21, 2021, in 2022

On January 7, the first extraordinary general meeting of shareholders in 2022 was held, and the "On the development of new factors" was considered and approved.

The bill on the amount of guarantee provided by the cloth business to the outside world, by the financial institutions to provide financing services for the financier, the funds are used to pay the financier to the company's designated agents, companies or subsidiaries to purchase photovoltaic distributed power generation products and services, the company to the actual amount of financing to provide guarantees for the financier, new guarantee amount

No more than RMB 0.2 billion yuan. For details, please refer to the Company's disclosure in Shanghai Securities on December 22, 2021.

The Exchange's website (www.sse.com.cn) "Announcement on New Guarantees for the Conduct of Distributed Business" (Announcement No. 2021-064).

Overview of 2. cancellation of guarantees

The company held the 23rd meeting of the third board of directors on June 26, 2024.

The "Proposal on Canceling the External Guarantee Provided by Distributed Business", due to changes in financing arrangements, the guarantee agreement related to the above-mentioned financial leasing matters has not been signed, and the above-mentioned guarantee behavior has not actually occurred. The company decided to cancel the guarantee provided by the above-mentioned company for the financier, It is helpful to arrange the financing guarantee work reasonably, and there is no situation that harms the interests of the company and all shareholders.

Accumulated amount of external guarantee and overdue amount of 3. guarantee

As of the disclosure date of this announcement, the company and its holding subsidiaries do not exist in the case of external guarantee overdue. The approved effective amount of external guarantees of the Company and its subsidiaries (excluding the Company's guarantees to its subsidiaries) is $3.535 billion, accounting for 115.52 of the Company's audited net assets at the end of 2023 and 49.71 of the audited total assets; the Company and its subsidiaries

The balance of the company's external guarantee is 0.834 billion yuan, accounting for 27.25 of the company's audited net assets at the end of 2023, accounting

11.72 of the total audited assets; the approved effective amount of the Company's guarantee to its subsidiaries is $1.588 billion, accounting for 51.90 of the Company's audited net assets at the end of 2023 and 22.33 of the total audited assets; the Company's guarantee to its subsidiaries

The company's guarantee balance is 0.712 billion yuan, accounting for 23.25 of the company's audited net assets at the end of 2023, accounting for the total audited.

10.01 per cent of assets.

4. Board Opinion

Due to changes in the company's financing arrangements, the above-mentioned financing matters related to the guarantee agreement has not been signed, the above-mentioned guarantee behavior has not actually occurred, the company decided to cancel the guarantee amount, which is conducive to reasonable arrangements for financing guarantee work, there is no harm to the interests of the company and all shareholders.

It is hereby announced.

Goodway Technologies, Inc.

Board of Directors

27 June 2024