Greenworks (Jiangsu) Co., Ltd.

Greenworks (Jiangsu) Co., Ltd. is a manufacturing company listed on the ChiNext board of the Shenzhen Stock Exchange in 2023. The company specializes in the research and development, design, production, and sales of new energy garden machinery. Its product portfolio includes lawn mowers, pruners, chain saws, hair dryers, and intelligent lawn mower robots, among others. Greenworks has been recognized as a "National High-tech Enterprise" and a "National Green Factory," reflecting its commitment to innovation and sustainability. The company has established a strong market position as a leader in the new energy garden machinery industry, focusing on key components such as lithium batteries and electric controls. Greenworks has developed a comprehensive supply chain management system and operates manufacturing bases in China, Vietnam, and the United States. Its innovative products, including the Optimus Z series lawn mower, have set new standards in power output and intelligence, while the company continues to expand its offerings in both commercial and household segments. The upcoming launch of intelligent lawn cutting robots further underscores its commitment to technological advancement.

(1) Research and development advantages The company has always attached importance to research and development investment, successfully built a global research and development system, and increased investment in research and development after the successful listing this year. In the first half of the year, the company was successfully evaluated as the National Enterprise Technology Center, the National Intellectual Property Advantage Enterprise, and the National green supply chain Management Enterprise. The company's core three power technology in the industry leading position, especially high-power motor electronic control, car gauge battery PACK research and development and production, so that the company's leading position in the new energy garden machinery industry has been further consolidated. In the second half of the year, the company will closely focus on the development pulse of technology electrification, intelligence and interconnection, and expand its investment in the field of intelligent driving technology. At the same time, the company will actively layout the energy storage circuit, plans to introduce the use of advanced two-way inverter technology, high-power, large-capacity new categories of mobile power and a series of home storage products, so as to broaden the product ecology, create a more comprehensive lithium battery ecosystem, the company's product richness will far exceed competitors. (2) Strong innovation ability As a pioneer and leader in the new energy garden machinery industry, the company actively implements the new energy strategy, through the layout of key components such as lithium batteries, motors, electric controls, and continuous high-intensity research and development investment in the core technology field, and continuously improves the supply chain security capability, the new energy garden machinery product system has been rapidly expanded, and innovative products leading the industry have been introduced to the market. Build strong barriers to market competition. In the first half of 2023, the company officially launched lithium electric commercial garden machinery products with Optimus Z series lawn mower as the core, which are superior to gasoline products in terms of power output, intelligence, endurance, safety, reliability and comfort, thus providing users with epoch-making products in the field of commercial garden machinery. It has created a good situation for the company to explore the commercial field. In the field of household products, the company continues to maintain a leading position. During the reporting period, the company's home zero-steering mounted lawn mower was rated by Consumer Reports as one of the TOP in its category, and a series of new home products are expected to be launched next year. In terms of intelligence, the company's efforts in the field for more than two years will bear fruit, and in the fourth quarter of 2023, six intelligent lawn cutting robots will come out, and the new products will integrate RTK and vision technology to reach the advanced level in the industry. (3) Complete supply chain system Based on the main business, focusing on key core components, practicing professional cooperation, the company has established a global supply chain management system with China as the core, and has established good cooperative relations with thousands of suppliers around the world to ensure the safety and stability of the supply chain. The company has established three manufacturing bases in China, Vietnam and the United States, among which the Vietnam base has gradually emerged after more than five years of operation, and has successfully offset the impact of US tariffs. During the reporting period, the company officially opened a factory in the United States, specializing in the production of high value-added products, which is of great significance for the localization of greenworks brand and service, and customer satisfaction has increased. While expanding the scale of production and operation, it has improved the visibility of the enterprise to obtain more market share and enhance the strategic position of the industry. (4) omni-channel sales system The company adopts a comprehensive channel model, which is a combination of official website independent station and APP, third-party e-commerce platform and offline retail to achieve global sales. The company's main customers include Lowe's, Costco, Amazon, CTC, TSC, Harbor Freight Tools, Bestbuy, Leroy Merlin, WALMART, Target and other large supermarkets, e-commerce, As well as STIHL, Toro, ECHO and other well-known brands.