Securities Code: 688063 Securities Abbreviation: Pateng Technology Announcement No.: 2024-043

Shanghai Power Energy 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:

The company has an initial strategic placement of shares, the initial strategic placement of shares has been fully listed and circulated.

Whether differential dividend transfer is involved: Yes

Per share distribution ratio, per share conversion ratio

Cash dividend per share 1.04 yuan (tax included)

Conversion to 0.4 shares per share

Relevant Date

Equity registration date ex-rights (interest) date new unlimited sale condition flow cash dividend payment date.

Share listing date

2024/6/20 2024/6/21 2024/6/21 2024/6/21

The number and date of the general meeting of shareholders of the 1. to adopt the distribution and conversion of the share capital plan.

The profit distribution and share capital increase plan was approved by Shanghai Energy Technology Co., Ltd. (hereinafter referred to

"Company") for consideration and approval at the 2023 Annual General Meeting on May 16, 2024.

2. distribution and share capital increase plan

1. Issuance year: 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 repurchase-specific securities account of Shanghai Energy Technology Co., Ltd.).

In accordance with the relevant provisions of the the People's Republic of China Company Law, the the People's Republic of China Securities Law, and the Shanghai Stock Exchange Self-Regulatory Guidelines for Listed Companies No. 7-Share Repurchase, the company repurchases the shares in the special securities account and does not enjoy profit distribution and provident fund The right to increase share capital does not participate in this profit distribution and capital reserve conversion to share capital.

3. Differentiated dividend transfer scheme:

(1) This differentiated equity distribution scheme

According to the "Profit Distribution and Capital for the Year 2023" approved by the Company's Annual General Meeting of Shareholders in 2023.

In 2023, the Company intends to distribute profits and increase the share capital based on the total share capital registered on the date of the equity registration of the implementation of the equity distribution, deducting the shares in the Company's special securities account for repurchase, as follows:

① The company intends to distribute a cash dividend of 10.40 yuan (including tax) to all shareholders for every 10 shares.

On the open day, the company's total share capital is 175,626,333 shares, and 174,332,290 shares of the company's share capital after deducting the number of 1,294,043 shares in the company's special securities account for repurchase is used as the base to calculate the total proposed cash dividend of RMB 181,305,581.60 (including tax), accounting for the company's 2023 Annual 35.16 of the net profit attributable to shareholders of listed companies.

② The Company intends to transfer 4 shares for every 10 shares to all shareholders with the capital reserve fund. As of the disclosure date of this announcement, the public

The company's total share capital is 175,626,333 shares, and the company's share capital is calculated on the basis of 174,332,290 shares after deducting 1,294,043 shares in the company's special securities account for repurchase. The total share capital is to be increased by 69,732,916 shares. After this increase, the company's total share capital is changed to 245,359,249 shares (The actual registration results of China Securities Depository and Clearing Co., Ltd. Shanghai Branch shall prevail).

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

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

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

Due to the Company's differential dividend transfer, the cash dividend and the change ratio of shares in circulation in the above formula are calculated on the basis of the dilution adjustment of the total share capital.

Virtual cash dividends = (total share capital distributed x actual cash dividends per share) ÷ total share capital =(174,332,290 x 1.04)÷ 175,626,333 ≈ $1.03 per share (two decimal places retained)

Percentage of change in circulating shares of virtual distribution = (total number of share capital involved in distribution x transfer ratio of actual distribution) ÷ total share capital =(174,332,290 x 0.40)÷ 175,626,333 ≈ 0.40 (two decimal places reserved)

In summary, the company's equity distribution ex-rights (interest) reference price = (previous closing price -1.03)÷(1+0.40) yuan/share

3. relevant date

Equity registration date ex-rights (interest) date new unlimited sale condition flow cash dividend payment date.

Share listing date

2024/6/20 2024/6/21 2024/6/21 2024/6/21

Implementation Measures for 4. Distribution and Conversion of Share Capital

1. Implementation method

(1) In addition to the self-distributed objects, the dividends of the remaining shareholders of the company are entrusted to China Clearing Shanghai Branch through its capital clearing system to be registered after the closing of the Shanghai Stock Exchange on the equity registration date and the members of the Shanghai Stock Exchange have handled the designated transactions. The distribution of shareholders. 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) Where bonus shares are distributed or the share capital is increased, the Shanghai Branch of China Clearing shall, in proportion to the number of shares held by registered shareholders after the closing of the Shanghai Stock Exchange on the date of share registration, be directly credited to the shareholders' account on a pro rata basis.

(3) The shares in the Company's repurchase special securities account will not participate in the profit distribution and capitalization of capital reserve.

2. Self-issued object

The cash dividends of the shares held by Zhongxing New Communications Co., Ltd., Shanghai Cuan Enterprise Management Partnership (Limited Partnership), Gongqingcheng Xinwei Investment Partnership (Limited Partnership) and Shanghai Chute Enterprise Management Partnership (Limited Partnership) shall be paid by the Company itself.

3. Tax deduction instructions

(1) For natural person shareholders and securities investment funds holding the company's unrestricted tradable shares, according to the "Notice on Issues Concerning the Implementation of the Differentiated Individual Income Tax Policy on Dividends and Dividends of Listed Companies" (Caishui [2012]85

No.) and the relevant provisions of the "Notice on Issues Concerning the Differentiated Individual Income Tax Policies for Dividends and Dividends of Listed Companies" (Caishui [2015] No. 101), individuals (including securities investment funds) obtain listed company stocks from the public offering and transfer market, Where the holding period (referring to the holding time from the date of obtaining the company's stock in the public offering and transfer market to the day before the transfer and delivery of the stock) exceeds one year, its dividend income is temporarily exempt from the levy.

Personal income tax, actual cash dividend of RMB 1.04 per share; The holding period is less than 1 year (including 1 year)

Yes, the dividend company will not withhold personal income tax for the time being, and the actual cash dividend per share will be 1.04 yuan. When individuals (including securities investment funds) transfer their shares, China Clearing Shanghai Branch will calculate the tax payable according to their shareholding period, and the securities company and other share custodian institutions will deduct and transfer it to China Clearing Shanghai Branch from its capital account. China Clearing Shanghai Branch will transfer the company within 5 working days of the following month, the company shall report and pay the tax to the competent tax authorities within the statutory reporting period of the month in which the tax is received. The specific actual tax burden is: if the holding period is less than 1 month (including 1 month), the full amount of dividend income is included in the taxable income.

The tax burden is 20%; if the holding period is more than one month to one year (including one year), the temporary reduction shall be included in the tax payable at 50%.

The amount of income, the actual tax burden is 10%, the holding period of more than 1 year, the dividend income is temporarily exempt from personal income tax.

(2) For qualified foreign institutional investor (QFII) shareholders, in accordance with the "Notice of the State Administration of Taxation on Issues Concerning the Withholding of Corporate Income Tax on Dividends, Dividends, and Interest Paid by Chinese Resident Enterprises to QFII" (Guoshuihan [2009] No. 47) According to the regulations, the company withholds and pays 10% cash dividend income tax, and the actual cash dividend after tax deduction is RMB 0.936 per share. If the relevant shareholders believe that the dividends and bonus income they receive need to enjoy tax treaty (arrangement) treatment or other preferential tax policies, they may apply to the competent tax authorities on their own in accordance with the provisions.

(3) For shareholders of Hong Kong market investors (including enterprises and individuals) who hold shares of the company, their dividends will be distributed by the company through China Clearing Shanghai Branch in RMB according to the account of the nominal holder of the shares, and the tax deduction shall be implemented in accordance with the Notice of the Ministry of Finance, the State Administration of Taxation and the Securities Regulatory Commission on the relevant tax policies for the pilot of the Shanghai-Hong Kong Stock Market Trading Interconnection Mechanism (Caishui [2014] No. 81), the Company withheld income tax at a tax rate of 10% and actually paid a cash dividend of RMB 0.936 per share after tax. For Hong Kong investors who are tax residents of other countries and the tax agreement signed between their country and China stipulates that the dividend income tax rate is less than 10%, the relevant enterprise or individual may submit an application to the competent tax authority of the company to enjoy the treatment of tax treaty, After examination, the competent tax authority shall refund the tax according to the difference between the tax collected and the tax payable calculated according to the tax agreement tax rate.

(4) For other institutional investors and corporate shareholders who hold the company's shares, 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 per share of the company is RMB per share before tax. 1.04 yuan.

(5) According to the Notice of the State Administration of Taxation on Certain Tax Issues Concerning the Implementation of the Enterprise Income Tax Law (Guo Shui Han [2010] No. 79), the source of the share capital increase is the capital provident fund formed by the income from the issuance of shares at a premium, and no tax deduction is involved.

5. statement of changes in share capital structure

Whether the company's initial strategic placement shares have been fully listed and circulated: Yes.

Unit: Unit

Number of changes before this change After this change

Turned up

1. limited sale conditions outstanding shares (non-tradable shares) 0 0 0

2. unrestricted sale conditions outstanding shares (outstanding shares) 175,626,333 69,732,916 245,359,249

1. A shares175,626,333 69,732,916 245,359,249

Total 3. shares 175,626,333 69,732,916 245,359,249

6. Diluted EPS Description

2023 per share based on 245,359,249 diluted shares of total new share capital after the implementation of the transfer program

The proceeds are $2.12.

7. relevant advisory measures

If you have any questions about this distribution, please contact us through the following contact information:

Contact Department: Securities Investment Department.

Contact number: 021-31590029

E-mail: ir@pylontech.com.cn

It is hereby announced.

Board of Directors of Shanghai Energy Technology Co., Ltd.

14 June 2024