CITIC Securities Co., Ltd

About Tianneng Battery Group Co., Ltd. will continue to supervise the on-site inspection of work in 2024

Results and reminders to the company

Tianneng Battery Group Co., Ltd.:

CITIC Securities Co., Ltd. (hereinafter referred to as the "Sponsor"), as the sponsor of the continuous supervision of your company, has conscientiously performed the duties of continuous supervision of your company in accordance with the relevant requirements of the Self-Regulatory Guidelines for Listed Companies on the Shanghai Stock Exchange No. 11 - Continuous Supervision.

Based on the 2024 annual on-site inspection, this sponsor brings the following matters to your company's attention:

1. Fundraising projects

As of the end of this continuous supervision period, the construction of the "large lithium battery R&D platform" has not yet started. The reasons for the announcement are as follows: in the second half of 2023, due to the expiration of the joint venture agreement between the company and Tianneng Shuaifude Energy Co., Ltd., the main body of the original lithium battery business, the company and the partner will negotiate the follow-up cooperation plan. As a result, it is expected that the project will reach full serviceability, adjusted to December 2025.

Although the company has fulfilled the statutory review procedures for the postponement of the fundraising project on March 28, 2024, and

On March 29, 2024, the postponement announcement of the aforementioned project was disclosed to explain the relevant reasons. This sponsor still submits

The company shall complete the demonstration and selection of the above-mentioned fundraising and investment projects as soon as possible, and disclose information in a timely manner in accordance with regulations.

2. Declining performance

This year, the company's net profit deducted from non-attributable to the parent company decreased by 41.7% compared with the previous year, although it did not reach 50%. The sponsor draws the Company's attention to whether there is a risk of further decline in the Company's profitability if the price of raw materials continues to rise, the market competition is further intensified, and the terminal selling price is further reduced. At the same time, if there are major events such as the need for a large amount of impairment, the company also needs to fully assess the adequacy of the provision and actively fulfill the information disclosure obligation.

Attachment: "CITIC Securities Co., Ltd. 2024 Annual On-site Inspection Report on Continuous Supervision Work of Tianneng Battery Group Co., Ltd."

(There is no text on this page, it is the stamped page of "CITIC Securities Co., Ltd. on the on-site inspection results of Tianneng Battery Group Co., Ltd. in 2024 and the precautions for the company")

Sponsor: CITIC Securities Co., Ltd

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