Securities code: 688819 Securities abbreviation: Tianneng shares Announcement No.: 2025-005

Tianneng Battery Group Co., Ltd

Announcement on the postponement of some fundraising projects

The board of directors and all directors of the company guarantee that there are no false records, misleading statements or material omissions in the content of this announcement, and assume legal responsibility for the authenticity, accuracy and completeness of its content in accordance with the law.

Important Content Notes:

●Projects to be extended: It is proposed to extend the use period of the funds raised by the original fund-raising project "Comprehensive Digital Support Platform Construction Project", and extend the date when the project reaches the scheduled usable state to December 2026.

●The postponement of some of the fundraising projects has been deliberated and approved by the 21st meeting of the second board of directors and the 17th meeting of the second board of supervisors of the company.

1. Overview of the fundraising project

(1) The basic situation of the funds raised

According to the "Reply on Agreeing to the Registration of the Initial Public Offering of Shares of Tianneng Battery Group Co., Ltd." issued by the China Securities Regulatory Commission (Zheng Jian Xu Xu [2020] No. 3173), it is agreed that the company will submit shares to the company

It will issue 116.6 million RMB ordinary shares (A shares) to the public at an issue price of RMB41.79 per share

(RMB, the same below), the total amount of funds raised was 4872.714 million yuan, the actual net amount of funds raised after deducting the issuance expenses was 4729.7331 million yuan, and the actual amount received was 4751.7597 million yuan. Zhonghui Certified Public Accountants (Special General Partnership) reviewed the funds in place for the company's initial public offering of shares

and on January 11, 2021, Zhonghui Huiyan [2021] No. 0026 "Capital Verification Report" was issued.

In order to standardize the management of the company's raised funds and protect the rights and interests of small and medium-sized investors, in accordance with the Company Law, the Securities Law, and the Regulatory Guidelines for Listed Companies No. 2 - Regulatory Requirements for the Management and Use of Raised Funds by Listed Companies

In accordance with the provisions of relevant laws, regulations and normative documents such as the Rules for the Listing of Stocks on the Science and Technology Innovation Board of the Shanghai Stock Exchange and the Self-Regulatory Guidelines for Listed Companies on the Science and Technology Innovation Board of the Shanghai Stock Exchange No. 1 - Standardized Operation, the Company has formulated the Administrative Measures for the Raised Funds of Tianneng Battery Group Co., Ltd. (hereinafter referred to as the "Administrative Measures for the Raised Funds"), which has made specific and clear provisions on the deposit, use and supervision of the raised funds. The company manages and uses the raised funds in strict accordance with the provisions of the company's "Measures for the Management of Raised Funds", and the deposit, use and management of the raised funds do not violate the provisions of the "Regulatory Guidelines for Listed Companies No. 2 - Regulatory Requirements for the Management and Use of Raised Funds by Listed Companies", "Rules for the Listing of Stocks on the Science and Technology Innovation Board of the Shanghai Stock Exchange", "Self-Regulatory Guidelines for Listed Companies on the Science and Technology Innovation Board of the Shanghai Stock Exchange No. 1 - Standardized Operation" and other regulatory documents, as well as the company's "Measures for the Management of Raised Funds" and other systems. At the same time, the Company adopts a special account storage system for raised funds, sets up a special account for raised funds in banks, and signs the Tripartite Supervision Agreement on the Storage of Special Accounts for Raised Funds, the Four-Party 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 and the Five-Party Supervision Agreement on the Storage of Special Accounts for Raised Funds with the sponsor institutions and the depository banks of the raised funds.

As of November 30, 2024, the use of proceeds from the Company's initial public offering is as follows:

Unit: RMB 10,000 yuan

Preface Project Name Raised Funds Investment Adjusted Raised Cumulative Investment Progress of Investment

Capital Investment (%)

1 Informatization and intelligent manufacturing of new high-energy lead-acid batteries 32,498.38 32,498.38 32,495.14 99.99

Industrialization upgrading and transformation projects

2 Green Intelligent Manufacturing Technology Transformation and Construction Project 26,162.01 26,162.01 17,199.13 65.74

3. Annual output of 9.12 million KVAh lead-acid battery technical equipment 25,277.43 13,104.94 13,147.72 100.33

Retrofit projects

4 High-energy power lithium battery cells and PACK items 85,261.56 30,415.88 30,418.02 100.01

5 Large-capacity and high-reliability start-stop battery construction items 43,370.55 5,162.72 5,162.72 100.00

eye

6 Comprehensive digital support platform construction project 31,303.96 7,286.95 3,078.51 42.25

7 National Technology Center Innovation Capability Improvement Project 15,581.59 1,034.78 1,034.78 100.00

8 Huzhou South Taihu Lake Base with an annual output of 10GWh lithium battery project 113,517.83 139,305.55 104,419.76 74.96

9 High-performance battery phase II project 0 39,994.04 36,219.89 90.56

Construction of 10 major lithium battery R&D platforms 0 14,029.31 0 0

11 Tianneng sodium-ion battery test line technical transformation project 0 1,200.00 170.99 14.25

12 Replenishment of liquidity 100,000.00 100,000.00 100,059.46 100.06

Total 472,973.31 410,194.56 343,406.11 83.72

Note: The above data is unaudited, and if there is any difference in the mantissa between the sum of the partial total and the detailed number, it is due to rounding.

(2) This time involves a deferred fundraising project

According to the pace of the construction of the comprehensive digital support platform, the company intends to extend the period of use of the funds raised by the original fund-raising project "comprehensive digital support platform construction project", and extend the date when the project reaches the scheduled usable state to December 2026.

On January 10, 2025, the 21st meeting of the 2nd Board of Directors and the 10th meeting of the 2nd Board of Supervisors of the Company

The seventh meeting deliberated and passed the "Proposal on the Extension of Some Fundraising and Investment Projects", and agreed to postpone the "Comprehensive Digital Support Platform Construction Project" to December 2026. The sponsor, CITIC Securities Co., Ltd. (hereinafter referred to as "CITIC Securities"), issued a clear verification opinion on this matter.

2. The specific circumstances and reasons for the postponement of some of the fundraising projects

(1) The postponement of the planned progress of the fundraising project

Combined with the actual construction situation and investment progress of the company's raised funds investment project, under the condition that the implementation subject, implementation method, investment purpose and investment scale of the raised funds are not changed, the time for some projects to reach the predetermined usable state is adjusted, the details are as follows:

Serial Number Project Name Reach Scheduled Before Adjustment Reach Scheduled Available After Adjustment

Time with state Time with state

1 Comprehensive digital support platform construction project January 2025 December 2026

(2) The reasons for the postponement of the planned progress of the fundraising project

The construction content of the "comprehensive digital support platform construction project" mainly includes the purchase of software and hardware, and the implementation of the project is conducive to improving the company's manufacturing and management efficiency, and realizing intelligent manufacturing and digital management.

During the implementation of the project, as the company's headquarters will be relocated from Changxing Huaxi to Huzhou South Taihu Lake, the company has accordingly reduced the scale of investment in information equipment in Changxing headquarters. At the same time, the informatization construction of the computer room of the new headquarters building in Huzhou selected some customized software and hardware equipment, which led to the slow down of the project investment progress due to the long procurement cycle and high degree of customization, and the construction period was also extended compared with the original plan.

In addition, the upgrading of the digital system and the construction of the industrial Internet platform involves the integration and application of a variety of cutting-edge technologies, in order to ensure the effective use of the raised funds and the continued competitiveness of the company's digital system and industrial Internet platform, the company has carried out strict selection of software and hardware to be purchased, and plans to promote the construction of the project in stages and steadily. As a result, the investment progress of the project has slowed down and the construction period has been extended accordingly.

Based on the internal and external business environment and the pace of implementation of digital projects, the company has prudently slowed down the investment progress of the raised funds, which is conducive to reducing the risk of the implementation of the fundraising and investment projects, which is in line with the overall interests of the company.

(3) The necessity and feasibility of the continued implementation of the fundraising project

In accordance with the relevant provisions of the Self-Regulatory Guidelines for Listed Companies on the Science and Technology Innovation Board of the Shanghai Stock Exchange No. 1 - Standardized Operation, the Company re-demonstrated the necessity and feasibility of the fundraising and investment projects, and believed that the fundraising and investment projects were in line with the Company's strategic planning, and it was still necessary and feasible for the continued implementation of the projects.

1. The necessity of project implementation

With the rapid development of digital information technology, the industrial Internet, as the crystallization of the deep integration of information technology and manufacturing, has become the core pillar of the new industrial revolution and a solid cornerstone to promote the in-depth development of "Internet + advanced manufacturing", which has had a comprehensive, profound and revolutionary impact on the transformation of enterprises and industries. Tianneng Co., Ltd.'s fundraising project "Comprehensive Digital Support Platform Construction Project" aims to comprehensively improve the digital system, build an advanced industrial Internet platform system, and promote the deep integration of the company's digital technology and industrial manufacturing. The project not only reshapes and upgrades the company's infrastructure, information security, and operations through digital means

Improve operational efficiency and gain insight into new market demands. The implementation of the project will comprehensively enhance the company's operational capabilities, enhance the company's comprehensive competitiveness in the industry, and strengthen market expansion capabilities, laying a solid foundation for the company's sustainable and high-quality development.

2. Feasibility of project implementation

This project is built and implemented under the same condition as the company's previous main business, business model, business process, suppliers, customer groups, etc., mainly based on the company's existing business needs to upgrade and transform the digital system, and form an advanced industrial Internet platform system to promote the deep integration of the company's digital technology and industrial manufacturing.

The development of China's industrial Internet is showing a trend of accelerated iterative evolution, and has entered a period of rapid growth in an all-round way. At the policy level, the Ministry of Industry and Information Technology and other departments have issued a number of industrial support policies aimed at promoting the development of the industrial Internet, providing strong support for the further popularization of industrial Internet applications and industrial development. The implementation of these policies indicates that the application of industrial Internet will be further popularized, and the development of the industry will also enter a period of rapid development. As a leading enterprise in the industry, Tianneng has rich industrialization experience and management experience, and is equipped with a professional and stable digital team. The core members of the company's existing digital team have rich experience in system development, in terms of system application, after the application and long-term maintenance of the company's digital center, each system has played an important role in the company's previous business process, the current system operation is normal, and the company's technical team has also accumulated rich experience in system application. Such a team configuration provides a strong guarantee for the smooth implementation of the comprehensive digital support platform construction project. It is highly feasible for the company to continue to implement the comprehensive digital support platform construction project, which is not only in line with the development trend of the industrial Internet, but also helps the company optimize internal management, improve marketing efficiency and enhance market competitiveness.

3. Demonstration conclusion of the fundraising project

The company believes that the fundraising project "comprehensive digital support platform construction project" is in line with the company's strategic plan, and has the necessity and feasibility of investment, and the company will continue to implement the above projects. At the same time, the company will pay close attention to the relevant environmental changes and make timely arrangements for the investment of raised funds.

3. The impact of the postponement of some fundraising projects on the company

The postponement of some fund-raising projects is a prudent decision made based on the actual situation in the implementation of the fund-raising project, which only involves the adjustment of the date when the project reaches the predetermined usable state, and does not involve the change of the project implementation entity, the investment purpose and investment scale of the raised funds, and there is no change or disguised change in the investment direction of the raised funds and other circumstances that damage the interests of shareholders, and will not adversely affect the normal production and operation of the company.

4. Relevant approval and approval procedures

(1) Resolution of the Board of Directors

The Company held the 21st meeting of the second session of the Board of Directors on January 10, 2025, and the Board of Directors considered that:

The postponement of some of the company's fundraising projects is adjusted based on the actual situation of the company, which is in line with the company's development plan and actual needs, which will help improve the efficiency of the use of raised funds, further enhance the company's core competitiveness and profitability, and realize the company's sustainable and stable development. Therefore, the Board of Directors agreed to postpone some of the fundraising projects by the Company.

(2) Opinions of the Board of Supervisors

The Company held the 17th meeting of the second session of the Board of Supervisors on January 10, 2025, and the Board of Supervisors considered that:

The postponement of some of the company's fundraising projects is adjusted based on the actual situation, which is in line with the company's development plan and actual needs, which will help improve the efficiency of the use of raised funds, further enhance the company's core competitiveness and profitability, and achieve the company's sustainable and stable development. Therefore, the Board of Supervisors agreed to postpone some of the fundraising projects by the Company.

(3) Opinion of the sponsor

After verification, the sponsor CITIC Securities Co., Ltd. believes that the postponement of some of the company's fundraising projects has been deliberated and approved by the board of directors and the board of supervisors of the company, and complies with the relevant laws and regulations such as the Rules for the Listing of Stocks on the Science and Technology Innovation Board of the Shanghai Stock Exchange and the Self-Regulatory Guidelines for Listed Companies on the Science and Technology Innovation Board of the Shanghai Stock Exchange No. 1 - Standardized Operation. The sponsor has no objection to the postponement of part of the fundraising project of Tianneng shares.

5. Attachment to the online announcement

1. "CITIC Securities Co., Ltd. on Part of the Fundraising Projects of Tianneng Battery Group Co., Ltd."

Verification opinion on the extension》

The announcement is hereby made.

Board of Directors of Tianneng Battery Group Co., Ltd

January 10, 2025