Securities Code: 688006 Securities Abbreviations: Hangke Technology Announcement No.: 2023-011

One of the actual controllers of Zhejiang Hangke Technology Co., Ltd.

Announcement on Progress of Share Reduction

The board of directors, all directors and relevant shareholders of the company guarantee that there are no false records in the contents of this announcement,

misleading statements or material omissions, and bear the legal responsibility for the truthfulness, accuracy and completeness of their contents.

Responsibility.

Important note:

The basic situation of the actual controller

Before the implementation of this reduction plan, Zhejiang Hangke Technology Co., Ltd. (hereinafter referred to as the "Company") actually

Mr. Cao Zheng, the international controller, directly holds 4,242,102 shares of the company, accounting for 1.05 percent of the company's total share capital,

Indirect holding of 964,114 shares of the company through Hangzhou Hangke Intelligent Equipment Group Co., Ltd. (rounded off)

whole), accounting for 0.24% of the company's total share capital. The above shares are derived from the shares held before the company's initial public offering.

Shares.

Progress of the Reduction Plan

On November 4, 2022, the Company disclosed the "Actual Controller of Zhejiang Hangke Technology Co.

Announcement of a Share Reduction Plan (Announcement No. 2022-070).

Recently, the company received a "notification letter of progress of the share reduction plan" issued by Mr. Cao Zheng, and this reduction plan

The reduction has been more than half of the time, and the reduction plan has not yet been completed.

The basic situation of the main body of the 1. reduction before the reduction.

Shareholder name Shareholder identity Number of shares held (shares) Shareholding ratio Current shareholding source

Cao Zheng Other Shareholders: Actual 5,206,216 1.29% Obtained before IPO: 5,206,216

Controller Unit

The above-mentioned reduction subject has no concerted action person.

Progress in the Implementation of the 2. Reduction Plan

Major shareholders and directors and supervisors of the (I) disclosed the progress of the implementation of the reduction plan for the following reasons:

The reduction time is more than half.

The number of shareholders to reduce their holdings is less than the price range to reduce the total current holding.

Name (shares) Example Reduction Period Method (yuan/share) Amount Number of shares Proportion of shares

(RMB) (shares)

Cao Zheng 293,570 0.07% 2022/12/1 Centralized 47.10 -59.39 15,766 4,912, 1.14%

~ Bid, 354.2 646

2023/2/15 Transaction 8

Note: As of the disclosure date of this announcement, Mr. Cao Zheng directly holds 3,948,532 shares of the company's unrestricted shares,

Indirect holding of 964,114 shares of the company through Hangzhou Hangke Intelligent Equipment Group Co., Ltd. (rounded off)

whole), holding a total of 4,912,646 shares of the company.

(II) whether this reduction is consistent with the plans and commitments previously disclosed by major shareholders or directors and supervisors.

√ Yes □ No

(III), within the time range of the reduction, whether the listed company discloses major matters such as high transfer or planning for mergers and acquisitions.

□ Yes √ No

(IV) the impact of this reduction on the company

The reduction was made by the shareholders of the company due to their own capital needs, and the actual controllers of the company are Mr. Cao Ji, Mr,

Mr. Cao Zheng, of which Mr. Cao Ji is the controlling shareholder of the company and Mr. Cao Zheng is the son of Mr. Cao Ji.

The implementation of the holding plan will not result in a change in the company's control, nor will it affect the company's governance structure and sustainability.

Operations have an impact.

(V) other matters required by this Exchange

None

3. related risk warning

The risk of uncertainty in the implementation of the (I) reduction plan, such as the preconditions, restrictive conditions and

The specific circumstances of the achievement or elimination of the relevant conditions, etc.

During the reduction period, the above-mentioned reduction entities will choose whether to implement and how to implement the reduction plan according to market conditions, the company's stock price and other factors. The implementation of this reduction plan has uncertainties such as the reduction time, reduction quantity, and reduction price. Investors are requested to invest rationally and pay attention to investment risks.

Whether the implementation of the (II) reduction plan will lead to the risk of a change in the control of a listed company.

□ Yes √ No

(III) other risks

As of the disclosure date of this announcement, this reduction plan has not yet been implemented. The company will continue to pay attention to the progress of the implementation of the shareholder share reduction plan, and fulfill its information disclosure obligations in a timely manner in accordance with relevant laws and regulations.

It is hereby announced.

One of the actual controllers of Zhejiang Hangke Technology Co., Ltd. Board of Directors

1 March 2023