China Securities Co., Ltd

About Shanghai Peneng Energy Technology Co., Ltd

Verification opinions on the resignation of senior management personnel and core technical personnel

China Securities Co., Ltd. (hereinafter referred to as "CSC Securities" or "Sponsor"), as the sponsor of Shanghai Peneng Energy Technology Co., Ltd. (hereinafter referred to as "Peneng Technology" or the "Company") to issue shares to specific targets in 2022, has verified the resignation of the company's senior management and core technical personnel in accordance with the requirements of laws, regulations and normative documents such as the Administrative Measures for the Sponsorship Business of Securities Issuance and Listing, the Listing Rules of the Science and Technology Innovation Board of the Shanghai Stock Exchange, etc. The details are as follows:

First, the specific situation of the resignation of core technical personnel

The board of directors of the company recently received the resignation report of Mr. Shi Lu, vice president and core technical personnel. Mr. Shi Lu applied for resignation as vice president of the Company for personal reasons, and will no longer hold any position in the Company after his resignation, effective from the date when the resignation report is delivered to the Board of Directors of the Company.

1. The specific situation of core technical personnel

Shi Lu, male, born in 1981, Chinese nationality, no right of permanent residence abroad. In 2003, he graduated from Harbin Institute of Technology with a bachelor's degree in test and measurement technology and instruments. In 2006, he graduated from Harbin Institute of Technology with a master's degree in instrument science and technology. From July 2006 to July 2009, he worked as a software engineer in New H3C Information Technology Co., Ltd.; From October 2009 to July 2016, he worked in Shanghai ZTE Peneng Energy Technology Co., Ltd. as the chief software engineer and the general manager of the energy storage system division. From August 2016 to March 2025, he served as the vice president of the company and the general manager of the energy storage system division.

As of the date of issuance of this verification opinion, Mr. Shi Lu directly held 27,300 shares of the Company, and indirectly held the shares of the Company through Shanghai Zhongpai Yuntu Enterprise Management Partnership (Limited Partnership) and Shanghai Zhengqi Enterprise Management Partnership (Limited Partnership). Mr. Shi Lu promised that after his resignation, he would continue to abide by the relevant laws, regulations and regulations such as the Rules for the Listing of Stocks on the Science and Technology Innovation Board of the Shanghai Stock Exchange, the Measures for the Continuous Supervision of Listed Companies on the Science and Technology Innovation Board (for Trial Implementation), the Interim Measures for the Administration of Shareholding Reduction by Shareholders of Listed Companies, the Rules for the Management of the Company's Shares Held by Directors, Supervisors and Senior Managers of Listed Companies and Their Changes, and the Self-Regulatory Guidelines for Listed Companies on the Shanghai Stock Exchange No. 15 - Reduction of Shareholdings by Shareholders, Directors, Supervisors and Senior Managers. The relevant provisions of the normative documents on the share transfer of senior managers and core technical personnel of listed companies, as well as the initial public offering of shares in the company

Pledges made at the time of the ticket.

2. Participate in R&D projects and patents

Mr. Shi Lu participated in the company's technology research and development during his tenure as a core technical personnel, and the relevant patents applied for by him as an inventor during his tenure are all non-single inventors and the ownership belongs to the company, there are no disputes or potential disputes involving job results, intellectual property rights and other matters, and there is no situation affecting the integrity of the company's intellectual property ownership, and his resignation will not have a significant adverse impact on the company's business development and technological innovation.

3. Fulfillment of confidentiality obligations

According to the confidentiality agreement signed between the Company and Mr. Shi Lu, the two parties have clearly agreed on the confidentiality obligations that Mr. Shi Lu should abide by. After resigning from the above positions, Mr. Shi Lu is obliged to keep confidential the trade secrets and confidential information (including but not limited to technical information, business information and management information) of the Company that he knows. As of the date of issuance of this verification opinion, the Company has not found that Mr. Shi Lu has violated the relevant terms of the confidentiality agreement.

Second, the impact of the resignation of core technical personnel on the company

The company attaches great importance to R&D work, and has established a complete R&D innovation system through long-term technology accumulation and development. The company's R&D team has a stable structure, rich experience, strong scientific research force and reasonable professional allocation. As a concrete embodiment of the company's scientific research achievements: as of June 30, 2024, the company has obtained a total of 629 patents, including 71 invention patents, 437 utility model patents, 61 design patents, 49 software copyrights, and 11 integrated circuit layout designs.

The company has always paid attention to the introduction and training of talents, and gradually established a talent introduction and reserve training mechanism that is compatible with the company's development needs, and there is no important dependence on specific technical personnel. As of June 30, 2024, the company has 731 R&D personnel, accounting for 37.80% of the company's total employees. Mr. Shi Lu's resignation will not have a material adverse impact on the Company's overall R&D strength, nor will it have an adverse impact on the Company's business development, technology research and development, product innovation, etc.

After Mr. Shi Lu's resignation, the company's core technical personnel changed from 5 to 4. After this change, the company's core technical personnel are Cai Xuefeng, Zhu Guangyan, Hu Xueping, and Ji Linfeng. The details before and after the change are as follows:

Period: Name of core technical personnel

Before this change, Cai Xuefeng, Shi Lu, Zhu Guangyan, Hu Xueping, Ji Linfeng

After this change, Cai Xuefeng, Zhu Guangyan, Hu Xueping, Ji Linfeng

3. Measures taken by the company

As of the date of issuance of this verification opinion, Mr. Shi Lu has completed the handover of relevant work, and the company's various R&D activities are in a normal and orderly state.

The company adheres to independent innovation to ensure the competitiveness and innovation of core technologies. The company's R&D team has a sound structure, a sound management system, sufficient technical reserves, a high level of scientific research and strong independent R&D capabilities, and the existing R&D team and core technical personnel have a solid foundation to support the continuous progress and development of the company's core technology in the future. In the future, the company will maintain R&D investment, continue to optimize the R&D team, focus on strengthening core technologies, and continuously improve the level of scientific and technological innovation, so as to consolidate and enhance the company's technological leading position in the industry.

4. Verification opinions of the sponsor institution

Upon verification, the Sponsor is of the view that:

The company's existing R&D team and core technical personnel are generally stable, and Mr. Shi Lu has completed the relevant work handover, and his departure will not have a significant adverse impact on the company's business development and technological innovation. There are no disputes or potential disputes involving job results, intellectual property rights and other matters arising from Mr. Shi Lu's resignation, and there is no situation that affects the integrity of the company's intellectual property ownership. As of the date of issuance of this verification opinion, the Company's R&D activities are progressing in a normal and orderly manner, and the resignation of Mr. Shi Lu has not had a material adverse impact on the Company's ability to continue operations.

(There is no text on this page, it is the signed and stamped page of the "Verification Opinions of China Securities Co., Ltd. on the Resignation of Senior Managers and Core Technical Personnel of Shanghai Peneng Energy Technology Co., Ltd.")

Signature of the Sponsor Representative:

Luo Guijun Yang Enliang

China Securities Co., Ltd

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