Securities code: 688006 Securities abbreviation: Hangke Technology Announcement No.: 2023-016

Zhejiang Hangke Technology Co., Ltd.

Announcement on the Voluntary Disclosure of the Company's Receipt of the Letter of Intent for Winning the Bid

the company's board of directors and all directors to ensure that the contents of this announcement does not exist any false records, misleading statements or major omissions, and the authenticity, accuracy and completeness of the contents of the legal responsibility.

Important Content Tips:

Hangke Electronic Trading Hong Kong Co., Ltd. (hereinafter referred to as "Hong Kong Hangke"), a wholly-owned subsidiary of Zhejiang Hangke Technology Co., Ltd. (hereinafter referred to as "the Company" or "Hangke Technology"), recently received a letter of intent sent by Vision Power Technology (Jiangsu) Co., Ltd. (hereinafter referred to as "Vision Power") by email. The company won the bid Vision Power in the United Kingdom and France to expand the procurement of lithium battery back equipment projects, the total amount of 117.4528 million U.S. dollars (excluding tax). The corresponding formal contract of the letter of intent has not been signed, and in the actual performance process, if the market, economy and other unpredictable or force majeure factors, there may be a risk that the contract can not be fully performed, please pay attention to the investment risk.

This bid is conducive to improving the company's revenue scale and profitability, and is expected to have a positive impact on the company's operating performance this year and future years. The specific amount and time of impact will depend on the specific circumstances of the transaction.

1. bid-winning projects

Hong Kong Hangke, a wholly-owned subsidiary of the company, recently received a letter of intent to win the bid from Vision Power via email, and the company won the bid for the lithium battery back-channel equipment project purchased by Vision Power in the UK and France.

US $117.4528 million (excluding tax), the company sells lithium battery post-processing system equipment such as fixture machines to Vision Power.

2. Counterparty Situation

(I) basic information

1. Company Name: Vision Power Technology (Jiangsu) Co., Ltd.

2. Legal Representative: Zhao Weijun

3. Registered capital: US $200 million

4. Registered Address: 66 Shentai Road, Shengang Street, Jiangyin City, Wuxi City

5. Business scope: research and development of power technology, battery management system, wind and solar energy storage system; R & D, production and sales of AC uninterruptible power supply equipment, inverter equipment, charging equipment and their parts; R & D, design, production and sales of power batteries, lithium ion batteries, lithium polymer batteries, fuel cells, energy storage batteries, super capacitors and rechargeable battery packs; technology transfer, technical consultation and technology development in the fields of new energy technology, battery technology and energy storage technology; self-management and agency of import and export business of all kinds of commodities and technologies, except for commodities and technologies whose import and export are restricted or prohibited by the state. (For projects subject to approval according to law, business activities can only be carried out after approval by relevant departments)

6. The Company's transactions with Vision Dynamics for the last three fiscal years are as follows:

Annual sales revenue ($million) as a percentage of current year's operating income

2019 Annual 6.83 0.00%

2020 190.42 0.13%

2021 3519.17 1.42%

7, Vision Power is a world-leading intelligent battery technology company, with strong financial strength, strong performance capabilities.

3. review process

The receipt of the letter of intent to win the bid this time does not require the board of directors, the general meeting of shareholders to consider, nor does it require independent directors and lawyers to express their opinions.

The amount of the winning bid did not meet the disclosure standard stipulated in the Rules for the Listing of Stocks on the Science and Technology Board of the Shanghai Stock Exchange, but it has reached the standard for voluntary disclosure by the Company: if the daily operating contract exceeds 30% of the audited operating income of the Company in the previous year, it shall be disclosed.

The impact of 4. transaction performance on listed companies.

1. This transaction belongs to the company's daily business. This bid is conducive to the company's business expansion in the global new energy battery field, especially in the European market. It is also conducive to improving the company's revenue scale and profitability. It is expected to have a positive impact on the company's operating performance this year and the future year. The specific amount and time of impact will depend on the specific circumstances of the transaction.

2, this bid will not have an impact on the company's business independence, the company will not be due to the future performance of the contract on the long-term power of the formation of business dependence.

5. Risk Alert

According to the Company's revenue recognition policy, the Company will recognize revenue after the final acceptance of the equipment, and there is uncertainty as to whether it will have an impact on the current results in 2023. The corresponding formal contract of the letter of intent has not been signed, and in the actual performance process, if the market, economy and other unpredictable or force majeure factors, there may be a risk that the contract can not be fully performed, please pay attention to the investment risk.

It is hereby announced.

Board of Directors of Zhejiang Hangke Technology Co., Ltd.

7 March 2023