Securities Code: 688299 Securities abbreviation: Changyang Technology Bulletin No.: 2024-033

Ningbo Changyang Technology Co., Ltd. 2023 annual equity distribution implementation announcement.

the company's board of directors and all directors to ensure that the contents of the 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:

Whether it involves differential dividend transfer: Yes

Distribution per share

Cash dividend per share 0.05 yuan (tax included)

Relevant Date

Share registration date Ex-rights (dividend) date Cash dividend payment date

2024/6/13 2024/6/14 2024/6/14

The number and date of the shareholders' meeting 1. to adopt the distribution plan.

The profit distribution plan was approved by the company's 2023 annual general meeting on April 29, 2024. 2. allocation scheme

1. Year of issuance: 2023

2. Assign objects:

As of the closing of the Shanghai Stock Exchange in the afternoon of the equity registration date, all shareholders of the company registered in the Shanghai Branch of China Securities Depository and Clearing Co., Ltd. (hereinafter referred to as "China Clearing Shanghai Branch"). (Except for the special securities account for repurchase of Ningbo Changyang Technology Co., Ltd.).

According to the "the People's Republic of China Company Law", "the People's Republic of China Securities Law" and "Shanghai Stock Exchange Self-Regulatory Guidelines for Listed Companies No. 7-Share Repurchase" and other relevant laws, regulations, departmental rules and other regulatory documents, as well as the "Articles of Association" The relevant provisions of the company do not enjoy the rights of voting rights at the general meeting of shareholders, profit distribution, conversion of provident fund to share capital, subscription of new shares and allotment.

3. Differentiated dividend transfer scheme:

(1) Differentiated dividend scheme

According to the Company's 2023 Annual General Meeting of Shareholders, the Company's 2023 Annual Profit Distribution Forecast was approved.

The company intends to distribute a cash dividend of 0.50 yuan (including tax) to all shareholders for every 10 shares on the basis of deducting the balance of shares in the company's repurchase account from the total share capital registered on the date of equity distribution.

Gold to increase the share capital, not to send red shares. As of March 31, 2024, the total share capital of the Company was 290,496,916 shares,

After deducting the balance of 8,197,318 shares in the company's repurchase account, the number of shares to be allocated is 282,299,598 shares, which is used to calculate the total proposed cash dividend of 14,114,979.90 yuan (including tax), accounting for 14.79 of the company's net profit attributable to shareholders of the listed company in the 2023 consolidated statement. If the total share capital of the Company changes due to the conversion of convertible bonds/share repurchase/share repurchase/share repurchase/share incentive grant share repurchase and cancellation/major asset restructuring share repurchase and cancellation before the registration date of the implementation of equity distribution, the Company intends to maintain the distribution ratio per share and adjust the total distribution accordingly.

From April 1, 2024 to the disclosure date of this announcement, the Company has not repurchased shares, and the Company has repurchased shares in the special account.

The balance remains at 8,197,318 shares.

As of the disclosure date of this announcement, the company's total share capital is 290,496,916 shares. After deducting the balance of 8,197,318 shares in the company's repurchase account, the actual number of shares participating in the distribution this time is 282,299,598 shares, which is used to calculate the total proposed cash dividend of 14,114,979.90 yuan (including tax).

(2) The basis for the calculation of the differential dividend ex-dividend.

In accordance with the relevant provisions of the Shanghai Stock Exchange, the Company calculates the ex-rights and ex-dividend opening reference price according to the following formula:

Ex-dividend (dividend) reference price = (previous closing price-cash dividend) ÷(1 + percentage change in outstanding shares).

As the Company's dividend is a differentiated dividend, the above cash dividend represents the cash dividend per share calculated on the basis of the actual distribution adjusted for dilution of the total share capital. According to the profit distribution plan adopted by the resolution of the company's 2023 annual general meeting of shareholders, the company only pays cash dividends this time, and there is no capital reserve to increase share capital and bonus shares. As a result, there will be no change in the Company's outstanding shares and the percentage change in outstanding shares is zero.

Cash dividend per share = (total share capital distributed x cash dividend per share actually distributed) ÷ total share capital 282,299,598 x 0.05 ÷ 290,496,916 ≈ $0.05 per share.

That is, the company's ex-rights (dividend) reference price = previous closing price -0.05 yuan/share.

3. relevant date

Share registration date Ex-rights (dividend) date Cash dividend payment date

2024/6/13 2024/6/14 2024/6/14

Implementation Measures for 4. Allocation

1. Implementation method

In addition to the self-distributed objects, the cash dividends of the remaining shareholders of the company are entrusted to China Clearing Shanghai Branch through its capital clearing system to shareholders who have registered after the closing of the Shanghai Stock Exchange on the equity registration date and have handled designated transactions on the Shanghai Stock Exchange. Investors who have handled designated transactions can receive cash dividends at their designated securities business department on the dividend payment date. Shareholders' dividends that have not handled designated transactions are temporarily kept by China Clearing Shanghai Branch and will be distributed after the designated transactions are handled.

2. Self-issued object

The cash dividends of the Company's shareholders Jin Yadong, Ningbo Changyang Yonghui Investment Management Partnership (Limited Partnership) and Ningbo Changyang Industrial Holdings Co.

3. Tax deduction instructions

(1) For natural person shareholders and securities investment funds who hold the company's unrestricted tradable shares, according to the "Notice on Issues Concerning the Differentiated Individual Income Tax Policies for Dividends and Dividends of Listed Companies" (Caishui [2015] No. 101) and "About the Implementation of Listed Companies Notice on Issues Concerning Differentiated Individual Income Tax Policies for Dividends and Dividends (Caishui [2012] No. 85), individuals (including securities investment funds) who have acquired shares of listed companies from the public offering and transfer market for a period of more than one year shall be temporarily exempted from personal income tax on their dividend income.

The actual distribution of cash dividends of RMB 0.05 yuan; If the holding period is less than 1 year (including 1 year), the company will temporarily

No personal income tax is withheld, and a cash dividend of RMB 0.05 per share is actually distributed. When the stock is transferred, China Clearing Shanghai Branch will calculate the tax payable according to its shareholding period, and the securities company and other share custodian institutions will deduct from its capital account. And to China Clearing Shanghai Branch, China Clearing Shanghai Branch will pay the company within 5 working days of the following month, and the company will report and pay the tax to the competent tax authority within the statutory reporting period of the month. The specific actual tax burden is: if the shareholder's holding period is less than 1 month (including 1 month), the full amount of dividend income is included in the taxable income, and the actual tax burden is 20%; the holding period is more than 1 month to 1

Year (including 1 year), the temporary reduction of 50% is included in the taxable income, the actual tax burden is 10%.

(2) For qualified foreign institutional investors ("QFII") shareholders, in accordance with the "Notice on Issues Concerning the Withholding and Payment of Corporate Income Tax by Chinese Resident Enterprises to QFII" issued by the State Administration of Taxation (Guoshuihan [2009] No. 47), the company shall uniformly withhold and pay corporate income tax at a tax rate of 10%, and the actual cash dividend per share after tax shall be RMB 0.045. If the relevant shareholders believe that the dividend income they receive is subject to any tax treaty (arrangement) treatment or other tax incentives, they may do so on their own in accordance with the relevant regulations.

(3) For shareholders of the Stock Exchange of Hong Kong Limited (including enterprises and individuals) who hold shares of the Company through the Shanghai Stock Connect, their cash dividends will be distributed in RMB by the Company through the Shanghai Branch of China Clearing in accordance with the account of the nominal holder of the shares. According to the "Notice on Tax Policies for the Pilot Interconnection Mechanism of Shanghai and Hong Kong Stock Markets" (Caishui [2014] No. 81), the cash dividend will be withheld and remitted by the Company at a tax rate of 10%, with a cash dividend of RMB 0.045 per share after tax. If the relevant shareholders believe that the dividend income they receive is subject to any tax treaty (arrangement) treatment or other tax incentives, they may do so on their own in accordance with the relevant regulations.

(4) For other corporate shareholders and institutional investors, the company will not withhold and pay corporate income tax, and its cash dividend income tax will be declared and paid by itself. The actual cash dividend paid by the company is RMB 0.05 per share before tax.

5. relevant advisory measures

If you have any questions about the distribution of rights and interests, please follow the following contact information:

Contact Department: Securities Affairs Department

Tel: 0574-56205386

It is hereby announced.

Board of Directors of Ningbo Changyang Technology Co., Ltd.

7 June 2024