Stock code: 688299 Stock abbreviation: Changyang Technology

Ningbo Changyang Technology Co., Ltd

Meeting materials of the first extraordinary general meeting of shareholders in 2025

January 2025

Ningbo Changyang Technology Co., Ltd

2025 First Extraordinary General Meeting of Shareholders Meeting Materials Catalogue

Ningbo Changyang Technology Co., Ltd. 2025 First Extraordinary General Meeting of Shareholders Meeting Notice ...... 3

Ningbo Changyang Technology Co., Ltd. 2025 First Extraordinary General Meeting of Shareholders Meeting Agenda ...... 5

Proposal 1: Proposal on the completion of part of the fund-raising project and the permanent replenishment of liquidity with the surplus raised funds...... 7

Proposal 2: Proposal on changing the "annual output of 80,000 tons of optical grade polyester base film project" ...... 12

Proposal 3: Proposal on providing guarantee for wholly-owned subsidiaries to apply for comprehensive credit lines from banks...... 16

Ningbo Changyang Technology Co., Ltd

Notice to the First Extraordinary General Meeting of Shareholders in 2025

In order to safeguard the legitimate rights and interests of all shareholders, ensure the normal order and efficiency of the general meeting of shareholders, and ensure the smooth progress of the general meeting, in accordance with the "Company Law of the People's Republic of China", "Securities Law of the People's Republic of China", "Rules of the General Meeting of Shareholders of Listed Companies", "Articles of Association of Ningbo Changyang Technology Co., Ltd.", "Rules of Procedure of the General Meeting of Shareholders of Ningbo Changyang Technology Co., Ltd." and other relevant regulations, the first extraordinary general meeting of shareholders in 2025 is hereby formulated:

1. In order to ensure the seriousness and normal order of the meeting, and effectively safeguard the legitimate rights and interests of the shareholders (or shareholders' representatives) attending the meeting, the company has the right to refuse other unrelated personnel to enter the venue in accordance with the law, except for the shareholders (or shareholders' representatives) attending the meeting, the company's directors, supervisors, senior managers, witness lawyers and persons invited by the board of directors.

2. Shareholders and shareholders' representatives attending the meeting must go through the sign-in procedures at the meeting site 15 minutes before the meeting, and please present the securities account card, identity document or copy of the business license/registration certificate of the enterprise (with official seal), power of attorney, etc., and receive the meeting materials after verification. After the start of the meeting, the presiding officer of the meeting announces the number of shareholders present at the meeting and the total number of shares with voting rights held by them, and shareholders who enter the meeting after this time are not entitled to participate in the on-site voting.

3. The meeting shall deliberate and vote on the motions in the order listed in the notice of the meeting.

4. Shareholders and their representatives participate in the general meeting of shareholders and enjoy the right to speak, question, vote and other rights in accordance with the law. Shareholders and their representatives participating in the general meeting of shareholders shall conscientiously perform their statutory obligations, shall not infringe upon the legitimate rights and interests of the company and other shareholders and shareholders' representatives, and shall not disturb the normal order of the general meeting of shareholders.

5. Shareholders and their representatives who request to speak shall speak only with the permission of the presiding officer of the meeting in accordance with the agenda of the meeting. If more than one shareholder and the shareholder's representative request to speak at the same time, the one who raises his hand first shall speak; If the presiding officer cannot be determined, the moderator shall designate the speaker. Shareholders and shareholders' representatives should speak or ask questions on the topics of this shareholders' meeting, concisely and concisely, and the time should not exceed 5 minutes.

6. When shareholders and their representatives request to speak, they shall not interrupt the report of the rapporteur of the meeting or the speeches of other shareholders and their representatives, and the shareholders and their representatives shall not speak when voting at the general meeting of shareholders. If the shareholders and their representatives violate the above provisions, the presiding officer has the right to refuse or stop them.

7. The moderator may arrange for the company's directors, supervisors and senior managers to answer the questions raised by shareholders. The moderator or the relevant personnel designated by the moderator have the right to refuse to answer questions that may disclose the company's trade secrets and/or insider information and damage the common interests of the company and shareholders.

8. Shareholders and shareholders' representatives attending the general meeting of shareholders shall express one of the following opinions on the proposal submitted for voting: agree, oppose or abstain. Votes that are not filled, filled in incorrectly, illegible, or not cast are deemed to have waived the voting rights of the voter, and the voting results of the shares held by the voter shall be counted as "abstention".

9. The general meeting of shareholders adopts a combination of on-site voting and online voting, and issues an announcement on the resolution of the general meeting of shareholders in combination with the voting results of on-site voting and online voting.

10. The general meeting of shareholders will be witnessed and issued by the practicing lawyers of the law firm hired by the company on the spot.

11. During the meeting, participants should pay attention to maintaining the order of the venue, do not move around at will, adjust the mobile phone to mute state, refuse personal audio recording, video recording and photography, and the meeting staff has the right to stop the behavior that interferes with the normal procedures of the meeting or infringes on the legitimate rights and interests of other shareholders, and reports to the relevant departments for processing.

12. The expenses incurred by shareholders attending the general meeting of shareholders shall be borne by the shareholders. The Company does not distribute gifts to shareholders attending shareholders' meetings, and is not responsible for arranging accommodations for shareholders attending shareholders' meetings, and treats all shareholders equally.

13. For the specific content of the registration method and voting method of this general meeting of shareholders, please refer to the company's announcement in 2024

On December 20, the "About Convening the First Extraordinary Shareholders in 2025" disclosed on the website of the Shanghai Stock Exchange

Notice of the General Assembly (Announcement No. 2024-056).

Ningbo Changyang Technology Co., Ltd

Agenda for the 1st Extraordinary General Meeting of Shareholders in 2025

1. Time, place and voting method of the meeting

1. On-site meeting time: 2:00 p.m. on January 6, 2025

2. On-site meeting place: conference room on the first floor of the company, No. 999 Qingfeng Road, Jiangbei District, Ningbo City

3. Meeting method: a combination of on-site voting and online voting

Internet voting system and voting time: Shanghai Stock Exchange network voting system is adopted, through the trading system

The voting time of the unified voting platform is the trading time on the day of the general meeting of shareholders (06.01.2025).

segments, i.e. 9:15-9:25, 9:30-11:30, 13:00-15:00; through the Internet voting platform

The voting time is 9:15-15:00 on the day of the general meeting of shareholders (January 6, 2025).

4. Convener of the meeting: Board of Directors of Ningbo Changyang Technology Co., Ltd

2. Agenda of the meeting

(1) Participants sign in, receive meeting materials, and shareholders register for speeches

(2) The presiding officer announces the opening of the meeting and reports to the general meeting the number of shareholders attending the on-site meeting and the number of voting rights held

(3) Read out the instructions for the general meeting of shareholders

(4) Elect members for vote counting and scrutineers

(5) To deliberate on the motions of the meeting

Serial Number Name of the motion

1 "Proposal on the Completion of Part of the Fund-raising Projects and the Permanent Replenishment of Liquidity with the Surplus Raised Funds"

2 "Proposal on Changing the "Annual Output of 80,000 Tons of Optical Polyester Base Film Project"

3 Proposal on Providing Guarantee for Wholly-owned Subsidiaries' Application for Comprehensive Credit Line from Banks

(6) Shareholders and shareholders' representatives at the meeting make speeches and ask questions

(7) Shareholders and shareholders' representatives at the meeting vote on the proposal

(8) Adjourn the meeting and count the results of on-site voting

(9) Resume the meeting and read out the voting results of the on-site meeting

(10) Adjournment and statistics on on-site voting results and online voting results

(11) The presiding officer reads out the resolution of the general meeting of shareholders

(12) Witness the lawyer's reading of the legal opinion

(13) Sign the documents of the meeting

(14) End of the meeting

Proposal 1: On the completion of part of the fund-raising projects and the permanent replenishment of liquidity with the surplus raised funds

of motions

Dear Shareholders and Shareholders' Representatives,

The company intends to complete the "R&D Center Project", which is committed to the investment project of the raised funds, and the surplus raised funds will permanently supplement the working capital. The details are as follows:

First, the basic situation of the funds raised

(1) The basic situation of the funds raised

Approved by the China Securities Regulatory Commission (CSRC) on the approval of the registration of the initial public offering of shares of Ningbo Changyang Technology Co., Ltd. (Zheng Jian Xu Xu [2019] No. 1886), the company issued 70,642,200 RMB ordinary shares (A shares) for the first time at an issue price of RMB 13.71 per share, raising a total of RMB 968,504,562.00, and the actual net amount of funds raised after deducting various issuance expenses was RMB 856. 718,202.80 yuan. The above-mentioned raised funds have been in place on October 30, 2019, and Lixin Certified Public Accountants (Special General Partnership) has verified the receipt of the raised funds for this issuance on October 30, 2019, and issued the "Capital Verification Report" of Xinhuishi Bao Zi [2019] No. ZA15720.

The company has adopted a special account storage system for the raised funds and set up a special account for the relevant raised funds. After the raised funds are received, all of them have been deposited in the special account for raised funds, and the "Tripartite Supervision Agreement on the Storage of Special Accounts for Raised Funds" and the "Four-Party Supervision Agreement on the Storage of Special Accounts for Raised Funds" have been signed with the sponsor institutions and commercial banks that store the raised funds in the special account.

(2) The basic information of the promised investment project

1. Commitment to investment projects

According to the Company's Prospectus for Initial Public Offering of Shares and Listing on the Science and Technology Innovation Board, the funds raised from the Company's initial public offering of shares are intended to be used for the following items after deducting the issuance expenses:

Unit: 10,000 yuan

Project Name Total Project Investment The amount of funds to be invested

With an annual output of 90 million square meters, BOPET high-end reflection 28,722 28,722

type of functional film project

With an annual output of 50.4 million square meters, the deep-processed functional film items are 9,174 9,174

eye

R&D Center Project 8,892 8,892

With an annual output of 30 million square meters, 4,187 4,187 are used for semiconductor packaging

Membrane project

Annual output of 10 million pieces of high-end optical diaphragm project 1,962 1,962

Total 52,937 52,937

On September 14, 2021, the 23rd meeting of the second board of directors and the second meeting of the second board of supervisors of the company

The 12th meeting deliberated and approved the "Proposal on the Completion of Part of the Fund-raising Projects and the Use of the Surplus Raised Funds for New Projects", and agreed that the company will raise funds to invest in the projects "BOPET high-end reflective functional film project with an annual output of 90 million square meters", "50.4 million square meters of deep-processing functional film project" and "high-end optical film project with an annual output of 10 million pieces", and use the surplus raised funds for "an annual output of 80,000 tons of optical grade polyester".

Base Film Project". On October 8, 2021, the company's second extraordinary general meeting of shareholders in 2021 reviewed the matter

adopted.

Unit: 10,000 yuan

Project Name Total Project Investment The amount of funds to be invested

The annual output of 80,000 tons of optical grade polyester base film project 122,448 23,290

Note: The actual amount to be invested with raised funds is subject to the balance of the special account on the day of fund transfer.

On December 30, 2022, the 10th meeting of the 3rd Board of Directors and the 8th meeting of the 3rd Board of Supervisors of the Company

The meeting deliberated and approved the "Proposal on the Change and Completion of Part of the Fund-raising Projects and the Permanent Replenishment of Liquidity with the Surplus Raised Funds", and agreed that the company will change the investment project of the raised funds from "release film project with an annual output of 30 million square meters for semiconductor packaging" to "release film project with an annual output of 20 million square meters for semiconductor packaging" and conclude the project.

The surplus proceeds permanently replenish liquidity. On January 30, 2023, the company will be in Pro for the first time in 2023

The general meeting of shareholders deliberated and approved the matter.

2. Over-raised investment projects

On November 18, 2019, the Company held the 7th meeting of the 2nd Board of Directors and the 7th meeting of the 2nd Board of Supervisors, at which the "Proposal on Using Part of the Over-raised Funds to Repay Bank Loans" was deliberated and approved, and the Company agreed to use part of the over-raised funds of RMB 98.00 million to repay the bank loans (Announcement No.: 2019-003). 2020

On February 27, the company held the ninth meeting of the second board of directors and the eighth meeting of the second board of supervisors, and deliberated and approved the "Proposal on Using the Remaining Over-raised Funds to Invest in the Construction of the "High-end Optical Deep Processing Film Project with an Annual Output of 30 Million Meters", and agreed that the Company would use the remaining over-raised funds (including interest) of 229.9416 million yuan to invest in the construction of the "High-end Optical Deep Processing Film Project with an annual output of 30 million square meters" (Announcement No.: 2020-004).

Unit: 10,000 yuan

Project Name Total Project Investment The amount of funds to be invested

Repayment of bank loan 9,800.00 9,800.00

With an annual output of 30 million square meters, high-end optical deep processing 50,061.00 22,994.16

Thin film project

Total 59,861.00 32,794.16

2. Project completion and plan for the use of surplus raised funds

The company has completed the construction of the "R&D Center Project", a project that has raised funds and committed to investment, and has been selected as a national enterprise technology center and a key enterprise research institute in Zhejiang Province.

1. As of December 10, 2024, the storage of the raised funds of the "R&D Center Project" is as follows:

Name of the corresponding investment project Bank account number Unused funds raised

Weighing amount (unit: 10,000 yuan)

R&D Center Project China Guangfa Bank Co., Ltd. 9550880027452400468 4,821.37

Business Department of Ningbo Branch

2. As of December 10, 2024, the specific use and savings of the R&D center project are as follows:

Unit: 10,000 yuan

Raised Funds Accumulated Invested Interest Income Signed Contract Raised Funds

Project Name Total Investment Proposed Funds Raised Deduction Procedures Same as to be paid Remaining amount Project progress

Amount (A) Amount (B) Net Amount After Fees (D) (A-B+C-D) Situation

（C）

R&D Center 8,892 4,893.98 823.35 745.30 4,076.07 Closed

project

Note: The estimated remaining amount of raised funds does not include bank interest income that has not yet been received; The amount to be paid after the signed contract will continue to be paid through the original special account for raising funds.

3. The main reason for the surplus of funds raised by the R&D center project

(1) The original plan used imported experimental equipment, and then in the actual construction, considering the cost performance of state-owned experimental equipment, increased the procurement of state-owned experimental equipment, and comprehensively considered the company's existing technology and product planning, adjusted the procurement of some experimental equipment. The original planned equipment purchase cost was 59.15 million yuan, and the actual investment was 36.2253 million yuan.

(2) The other expenses of the original planned project construction were 17.05 million yuan, and the actual investment was 587,000 yuan.

(3) The original planning reserve fee was 3.42 million yuan, but the actual use reserve fee was not involved.

(4) In order to improve the efficiency of the use of idle raised funds, the company carried out cash management on the temporarily idle raised funds on the premise of ensuring that the construction of the fund-raising project and the safety of the raised funds were not affected, and achieved certain income.

(5) In the process of project implementation, the company strictly follows the relevant regulations on the use of raised funds, uses the raised funds prudently in line with the principles of reasonableness, effectiveness and economy, and reasonably allocates resources and strictly controls various expenditures under the premise of ensuring the quality and smooth implementation of the project.

4. Plan for the use of surplus raised funds

In view of the completion of the basic construction of the fund-raising project, in order to improve the efficiency of the use of raised funds and enhance the operating efficiency of the company, according to the regulatory requirements for the management and use of raised funds, the company intends to permanently replenish the working capital of 40.7607 million yuan (the actual amount is subject to the balance of the special account on the day of the transfer of funds) after the completion of the "R&D center project".

3. The impact of the completion of part of the fund-raising project and the permanent replenishment of the working capital by the surplus raised funds on the company

The completion of part of the fund-raising project and the permanent replenishment of liquidity with the surplus raised funds is a reasonable decision made by the company according to the actual situation, which is conducive to improving the efficiency of the use of the company's raised funds, meeting the company's daily operation of the demand for working capital, and there is no disguised change in the investment direction of the raised funds and damage to the interests of shareholders.

The proposal has been the 27th meeting of the third board of directors and the 23rd meeting of the third board of supervisors of the company

Adopted by the meeting. For details, please refer to the Company's website on the Shanghai Stock Exchange on December 20, 2024

(www.sse.com.cn) The disclosed "Announcement on the Completion of Part of the Fund-raising Projects and the Permanent Replenishment of Liquidity with the Surplus Raised Funds".

It is now submitted to the general meeting of shareholders of the company for deliberation.

Board of Directors of Ningbo Changyang Technology Co., Ltd

2025-01-06

Proposal 2: Proposal on changing the "annual output of 80,000 tons of optical grade polyester base film project" Shareholders and shareholders' representatives:

The company plans to change the "80,000-ton-a-year optical-grade polyester-based film project" to "20,000-ton-a-year optical-grade polyester-based film project", and extend the construction period to June 30, 2025, as follows:

First, the basic situation of the funds raised

(1) The basic situation of the funds raised

Approved by the China Securities Regulatory Commission (CSRC) on the approval of the registration of the initial public offering of shares of Ningbo Changyang Technology Co., Ltd. (Zheng Jian Xu Xu [2019] No. 1886), the company issued 70,642,200 RMB ordinary shares (A shares) for the first time at an issue price of RMB 13.71 per share, raising a total of RMB 968,504,562.00, and the actual net amount of funds raised after deducting various issuance expenses was RMB 856. 718,202.80 yuan. The above-mentioned raised funds have been in place on October 30, 2019, and Lixin Certified Public Accountants (Special General Partnership) has verified the receipt of the raised funds for this issuance on October 30, 2019, and issued the "Capital Verification Report" of Xinhuishi Bao Zi [2019] No. ZA15720.

The company has adopted a special account storage system for the raised funds and set up a special account for the relevant raised funds. After the raised funds are received, all of them have been deposited in the special account for raised funds, and the "Tripartite Supervision Agreement on the Storage of Special Accounts for Raised Funds" and the "Four-Party Supervision Agreement on the Storage of Special Accounts for Raised Funds" have been signed with the sponsor institutions and commercial banks that store the raised funds in the special account.

(2) The basic information of the promised investment project

1. Commitment to investment projects

According to the Company's Prospectus for Initial Public Offering of Shares and Listing on the Science and Technology Innovation Board, the funds raised from the Company's initial public offering of shares are intended to be used for the following items after deducting the issuance expenses:

Unit: 10,000 yuan

Project Name Total Project Investment The amount of funds to be invested

With an annual output of 90 million square meters, BOPET high-end reflection 28,722 28,722

type of functional film project

With an annual output of 50.4 million square meters, the deep-processed functional film items are 9,174 9,174

eye

R&D Center Project 8,892 8,892

With an annual output of 30 million square meters, 4,187 4,187 are used for semiconductor packaging

Membrane project

Annual output of 10 million pieces of high-end optical diaphragm project 1,962 1,962

Total 52,937 52,937

On September 14, 2021, the 23rd meeting of the second board of directors and the second meeting of the second board of supervisors of the company

The 12th meeting deliberated and approved the "Proposal on the Completion of Part of the Fund-raising Projects and the Use of the Surplus Raised Funds for New Projects", and agreed that the company will raise funds to invest in the projects "BOPET high-end reflective functional film project with an annual output of 90 million square meters", "50.4 million square meters of deep-processing functional film project" and "high-end optical film project with an annual output of 10 million pieces", and use the surplus raised funds for "an annual output of 80,000 tons of optical grade polyester".

Base Film Project". On October 8, 2021, the company's second extraordinary general meeting of shareholders in 2021 reviewed the matter

adopted.

Unit: 10,000 yuan

Project Name Total Project Investment The amount of funds to be invested

The annual output of 80,000 tons of optical grade polyester base film project 122,448 23,290

Note: The actual amount to be invested with raised funds is subject to the balance of the special account on the day of fund transfer.

On December 30, 2022, the 10th meeting of the 3rd Board of Directors and the 8th meeting of the 3rd Board of Supervisors of the Company

The meeting deliberated and approved the "Proposal on the Change and Completion of Part of the Fund-raising Projects and the Permanent Replenishment of Liquidity with the Surplus Raised Funds", and agreed that the company will change the investment project of the raised funds from "release film project with an annual output of 30 million square meters for semiconductor packaging" to "release film project with an annual output of 20 million square meters for semiconductor packaging" and conclude the project.

The surplus proceeds permanently replenish liquidity. On January 30, 2023, the company will be in Pro for the first time in 2023

The general meeting of shareholders deliberated and approved the matter.

2. Over-raised investment projects

On November 18, 2019, the Company held the 7th meeting of the 2nd Board of Directors and the 7th meeting of the 2nd Board of Supervisors, at which the "Proposal on Using Part of the Over-raised Funds to Repay Bank Loans" was deliberated and approved, and the Company agreed to use part of the over-raised funds of RMB 98.00 million to repay the bank loans (Announcement No.: 2019-003). On February 27, 2020, the company held the ninth meeting of the second board of directors and the eighth meeting of the second board of supervisors

The "Proposal on Using the Remaining Over-raised Funds to Invest in the Construction of the "High-end Optical Deep Processing Film Project with an Annual Output of 30 Million Square Meters" was passed, and it was agreed that the company would use the remaining over-raised funds (including interest) of 229.9416 million yuan to invest in the construction of the "High-end Optical Deep Processing Film Project with an Annual Output of 30 Million Square Meters" (Announcement No.: 2020-004).

Unit: 10,000 yuan

Project Name Total Project Investment The amount of funds to be invested

Repayment of bank loan 9,800.00 9,800.00

With an annual output of 30 million square meters, high-end optical deep processing 50,061.00 22,994.16

Thin film project

Total 59,861.00 32,794.16

2. Project changes

The company changed the "annual output of 80,000 tons of optical grade polyester base film project" to "an annual output of 20,000 tons of optical grade polyester".

Base Film Project" and extended the construction period until June 30, 2025.

1. The reason for the change of the project

In the process of promoting the project, the downstream market environment has undergone great changes, affected by the macro environment and market supply and demand, the gross profit margin of the company's original optical base film production line does not meet expectations, although since this year, the company's original optical base film gross profit margin has continued to improve, but considering the increase in uncertainties at the macro level, the pressure of domestic and foreign economic development is greater, after the company's prudent assessment, it was decided to temporarily reduce the investment scale of the "annual output of 80,000 tons of optical grade polyester base film project", and the "annual output of 80,000 tons of optical grade polyester base film project" Changed to "Annual Production 2

10,000 tons of optical grade polyester base film project", and at the same time extend the construction period to June 30, 2025. Follow-up Ruogen

If it is necessary to expand production capacity according to market and customer demand, the company will separately review and invest with its own funds.

2. The use of funds raised by the project

As of December 10, 2024, the funds raised from the project have been used as follows:

Unit: 10,000 yuan

Cumulative Actual Inputs Where: Cumulative Actual Inputs

Project Name Total amount of funds to be raised and planned to be invested Total amount of funds (including the amount of funds raised.)

Funded)

The fund-raising project has an annual output of 90 million square meters

With an annual output of 80,000 tons of optical grade BOPET high-end reflective functional film items

Polyester-based film project (variant), "annual output of 50.4 million square meters

Last: annual output of 20,000 tons of deep processing functional film project" and "annual 59,315.91 23,334.33

Optical grade polyester base film Produces 10 million pieces of high-end optical film

project) of $232.9 million

(The actual amount is based on the day the funds are transferred out.)

The balance of the special account shall prevail. ）

3. The impact of project changes on the company

This time, the "annual output of 80,000 tons of optical grade polyester base film project" was changed to "an annual output of 20,000 tons of optical grade polyester".

The "base film project" and extend the construction period is a prudent decision made by the company based on the actual needs of production and operation and the current market environment, which does not harm the interests of shareholders and will not adversely affect the company's production and operation, and is in line with the company's development strategy and actual needs. The decision-making and approval procedures are in line with relevant laws and regulations such as the Regulatory Guidelines for Listed Companies No. 2 - Regulatory Requirements for the Management and Use of Funds Raised by Listed Companies, the Self-Regulatory Guidelines for Listed Companies on the Science and Technology Innovation Board of the Shanghai Stock Exchange No. 1 - Standardized Operation, and the provisions of the Company's Management System for Raised Funds.

The proposal has been the 27th meeting of the third board of directors and the 23rd meeting of the third board of supervisors of the company

Adopted by the meeting. For details, please refer to the Company's website on the Shanghai Stock Exchange on December 20, 2024

(www.sse.com.cn) Announcement on changing the "annual output of 80,000 tons of optical grade polyester base film project" disclosed.

It is now submitted to the general meeting of shareholders of the company for deliberation.

Board of Directors of Ningbo Changyang Technology Co., Ltd

2025-01-06

Proposal 3: Proposal on providing guarantee for a wholly-owned subsidiary to apply for a comprehensive credit line from the bankShareholders and shareholders' agents:

The Company intends to provide guarantees for its wholly-owned subsidiaries, Hefei Changyang New Energy Technology Co., Ltd. (hereinafter referred to as "Hefei New Energy"), Hefei Changyang New Material Technology Co., Ltd. (hereinafter referred to as "Hefei New Materials") and Zhejiang Changyang Technology Co., Ltd. (hereinafter referred to as "Zhejiang Changyang"), to apply for a comprehensive credit line from the bank in 2025, with a total guarantee of no more than RMB 1 billion. The details are as follows:

1. Overview of the guarantee

In order to meet the construction and operation development needs of its wholly-owned subsidiaries Hefei New Energy, Hefei New Materials and Zhejiang Changyang, the Company intends to provide a guarantee for the above-mentioned wholly-owned subsidiaries to apply for a comprehensive credit line from the bank in 2025, with a total guarantee of no more than RMB 1 billion. The specific guarantee amount, guarantee period, guarantee method and other contents shall be subject to the officially signed guarantee documents. The above guarantee amount is not equal to the actual financing amount of the wholly-owned subsidiary.

2. Basic information of the guarantor

The objects to be guaranteed this time are all wholly-owned subsidiaries of the company, and the guarantors are as follows:

(1) Hefei Changyang New Energy Technology Co., Ltd

Date of establishment September 2021

Place of registration: No. 999, Gushui Road, Xinzhan District, Hefei City

Legal representative: Lu Li

General projects: R&D of emerging energy technologies; manufacturing of new membrane materials; New membranes

material sales; technology import and export; import and export of goods; business management consulting; Technical suits

service, technology development, technical consultation, technology exchange, technology transfer, technology promotion;

Business Scope: R&D of machinery and equipment; mechanical and electrical equipment manufacturing; Manufacture of special equipment (not included.)

can be classified as professional equipment manufacturing); sales of machinery and equipment; sales of electrical equipment; Electrons

Sales of devices and electromechanical components and equipment (except for licensed business, can be operated independently in accordance with the law.)

Items that are not prohibited or restricted by laws and regulations)

The association between the guarantor and the listed company is a wholly-owned subsidiary of the company

relationship or otherwise

There is no major impact on the ability of the guarantor to repay debts

Major contingencies

Judgment defaulters do not belong to judgment defaulters

(2) Hefei Changyang New Material Technology Co., Ltd

Date of establishment September 2021

Place of registration: No. 999, Gushui Road, Xinzhan District, Hefei City

Legal representative: Lu Li

General projects: new material technology research and development; research and development of special electronic materials; Machinery and equipment

R&D; manufacturing of plastic products; sales of plastic products; Photovoltaic equipment and components

Make; sales of photovoltaic equipment and components; Synthetic manufacturing (free of hazardous chemicals

Business Scope Products); sales of synthetic materials; mold making; mold sales; Special equipment for plastic processing

Manufacturing; sales of special equipment for plastic processing; non-residential real estate leases; enterprise

management consulting; Technical services, technology development, technical consultation, technical exchanges, technology

technology transfer and technology promotion; manufacturing of new membrane materials; Sales of new membrane materials (except

In addition to the licensed business, it can independently operate projects that are not prohibited or restricted by laws and regulations in accordance with the law)

The association between the guarantor and the listed company is a wholly-owned subsidiary of the company

relationship or otherwise

There is no major impact on the ability of the guarantor to repay debts

Major contingencies

Judgment defaulters do not belong to judgment defaulters

(3) Zhejiang Changyang Technology Co., Ltd

Date of establishment April 2023

Place of registration: No. 999, Free Trade Avenue, Dinghai District, Zhoushan City, China (Zhejiang) Pilot Free Trade Zone

1 building

Legal representative: Sun Fei

General projects: new material technology research and development; new material technology promotion services; Emerging energy

source technology research and development; photovoltaic equipment and components manufacturing; Photovoltaic equipment and component pins

Sell; manufacturing of special electronic materials; sales of special electronic materials; Special materials for electronics

Business Scope: R&D; manufacturing of plastic products; sales of plastic products; Manufactured by special equipment for plastic processing

Make; sales of special equipment for plastic processing; Synthetic manufacturing (free of hazardous chemicals

products); sales of synthetic materials; Technical services, technology development, technical consulting, technology

exchange, technology transfer, technology promotion; Enterprise management consulting (except for approval in accordance with the law.)

In addition to the quasi-project, independently carry out business activities with a business license in accordance with the law).

The association between the guarantor and the listed company is a wholly-owned subsidiary of the company

relationship or otherwise

There is no major impact on the ability of the guarantor to repay debts

Major contingencies

Judgment defaulters do not belong to judgment defaulters

3. The main content of the security agreement

As of the disclosure date of this announcement, the company has not signed the relevant guarantee agreement for the above-mentioned 2025 bank credit, the company, as the guarantor of a wholly-owned subsidiary, provides joint and several liability guarantee within the scope of the above-mentioned guarantee amount, and the main content of the guarantee agreement signed by the company is determined by the guarantor and the guaranteed person and the bank through negotiation, and the specific guarantee amount, guarantee period, guarantee method and other contents are subject to the officially signed guarantee documents.

4. The reason and necessity of the guarantee

The above-mentioned guarantee matters are conducive to enhancing the financing ability of the wholly-owned subsidiary, ensuring that the funds required for the construction and operation of the wholly-owned subsidiary are in place in a timely manner, and are conducive to the steady development of the production and operation of the wholly-owned subsidiary, which is in line with the company's overall development plan, and the guarantee risk is controllable, and there is no damage to the interests of the company and shareholders.

5. The cumulative amount of external guarantee and the amount of overdue guarantee

On February 9, 2022, the company held the 27th meeting of the second board of directors, and deliberated and approved the "Guan

In the proposal to provide guarantee for a wholly-owned subsidiary to apply for a comprehensive credit line from the bank, the board of directors agreed that the company will provide joint and several liability for the wholly-owned subsidiary Hefei New Energy to apply for a comprehensive credit line of no more than RMB 500 million from the bank

Any warranty. On March 24, 2022, the Company and Bank of Communications Co., Ltd. Ningbo Beilun Sub-branch signed the "Guarantee".

The company provides joint and several liability guarantee for Hefei New Energy, a wholly-owned subsidiary, to apply for comprehensive credit from the bank.

Secured claims are claims incurred between 2022 and 2029, with a maximum amount of RMB 319 million.

On March 8, 2022 and March 24, 2022, the company held the 28th meeting of the second session of the board of directors

At the meeting and the first extraordinary general meeting of shareholders in 2022, the "Proposal on Providing Guarantee for Wholly-owned Subsidiaries to Apply for Comprehensive Credit Line from Banks" was deliberated and approved, and the board of directors agreed that the company would be a wholly-owned subsidiary of Hefei New Materials

Banks apply for comprehensive credit lines of no more than RMB 1 billion to provide joint and several liability guarantees. August 18, 2022

On Sunday, the Company signed the "China Banking Association Syndicated Loan Guarantee Contract" with Agricultural Bank of China Co., Ltd. Hefei Xinzhan High-tech Zone Sub-branch and China Everbright Bank Co., Ltd. Hefei Branch, and the company provided joint and several liability for the "China Banking Association Syndicated Loan Contract" signed by Hefei New Materials, a wholly-owned subsidiary, Hefei Xinzhan High-tech Zone Sub-branch of Agricultural Bank of China Co., Ltd. and Hefei Branch of China Everbright Bank Co., Ltd

Guaranteed claims are secured claims that occur between August 18, 2022 and August 17, 2030

The maximum amount is 800 million yuan.

On February 26, 2024 and March 13, 2024, the 21st meeting of the 3rd Board of Directors of the Company

and the first extraordinary general meeting of shareholders in 2024 deliberated and passed the "Proposal on Providing Guarantee for Wholly-owned Subsidiaries to Apply for Comprehensive Credit Line from Banks", and agreed that the company will provide guarantees for wholly-owned subsidiaries Hefei New Energy, Hefei New Materials and Zhejiang Changyang to apply for comprehensive credit lines from banks in 2024, with a total guarantee of no more than 1.1 billion yuan

Renminbi. On March 25, 2024, the company signed a contract with Shanghai Pudong Development Bank Co., Ltd. Ningbo Branch

The company applied to Shanghai Pudong Development Bank for Hefei New Energy, a wholly-owned subsidiary, for the "Maximum Guarantee Contract".

The company provides joint and several liability guarantees for various types of financing business, and the secured claims are from March 25, 2024 to March 2027

If a claim arises during the 25-day period, the maximum amount of secured claim shall not exceed the equivalent of RMB 50 million. April 2024

On the 7th, the company signed the "Guarantee Contract" with Ningbo Jiangbei Branch of China Construction Bank Corporation, and the company provided the "RMB Working Capital Loan Contract" signed between Hefei New Energy, a wholly-owned subsidiary, and China Construction Bank

With liability guarantee, the guarantee amount is 10 million yuan, and the guarantee period is from April 7, 2024 to April 2028

May 7th. On May 8, 2024, the company signed a contract with China Construction Bank Corporation Ningbo Jiangbei Branch

Signing the "Guarantee Contract", the company signed the "RMB Flow" with China Construction Bank, a wholly-owned subsidiary of Hefei New Energy

The Fund Loan Contract provides a joint and several liability guarantee with a guarantee amount of 9.9 million yuan and a guarantee period from May 2024

From May 8 to May 8, 2028. On May 29, 2024, the Company and China Construction Bank Co., Ltd

The company Ningbo Jiangbei Sub-branch signed the "Guarantee Contract", and the company provided joint and several liability guarantee for the "RMB Working Capital Loan Contract" signed by Hefei New Energy, a wholly-owned subsidiary, and China Construction Bank, with a guarantee amount of 9.9 million yuan

The warranty period is from May 29, 2024 to May 29, 2028. On August 30, 2024, the company and in

China Construction Bank Co., Ltd. Ningbo Jiangbei Sub-branch signed the "Guarantee Contract", and the company provided joint and several liability guarantee for the "RMB Working Capital Loan Contract" signed between Hefei New Energy, a wholly-owned subsidiary, and China Construction Bank

The insured amount is 5 million yuan, and the guarantee period is from August 30, 2024 to September 2, 2028. October 2024

On January 14, the company signed the "Guarantee Contract" with Ningbo Jiangbei Branch of China Construction Bank Corporation, and the company provided the "RMB Working Capital Loan Contract" signed between Hefei New Energy, a wholly-owned subsidiary, and China Construction Bank

Joint and several liability guarantee, with a guarantee amount of 9.9 million yuan, and the guarantee period is from October 14, 2024 to 2028

October 16th.

As of the disclosure date of this announcement, the total amount of external guarantee agreements being performed by the Company and its wholly-owned subsidiaries is RMB1213.7 million, all of which are guarantees provided by the Company to its wholly-owned subsidiaries. The actual guarantee balance was 631.6937 million yuan (of which the actual guarantee balance for Hefei New Energy was 304.8309 million yuan; The actual balance of the guarantee for Hefei New Materials is 326.8628 million yuan), and the unused guarantee amount is 582.0063 million yuan. The actual balance of guarantee accounts for 28.96% and 18.93% of the company's latest audited net assets and total assets, respectively, and there is no overdue guarantee and no litigation guarantee is involved.

The proposal has been the 27th meeting of the third board of directors and the 23rd meeting of the third board of supervisors of the company

Adopted by the meeting. For details, please refer to the Company's website on the Shanghai Stock Exchange on December 20, 2024

(www.sse.com.cn) Announcement on Providing Guarantee for Wholly-owned Subsidiaries' Application for Comprehensive Credit Line from Banks.

It is now submitted to the general meeting of shareholders of the company for deliberation.

Board of Directors of Ningbo Changyang Technology Co., Ltd

2025-01-06