Hangzhou Hetai Electromechanical Co., Ltd. (hereinafter referred to as "Hetai Electromechanical" or "the Company") received notification on February 11, 2026, from its actual controller Mr. Xu Qing and his concerted actors Ms. Xu Ying and Ms. Feng Yilin. Given that the original "Concerted Action Agreement" is about to expire, and to maintain the stability of the company's actual control and ensure the continuity and stability of operations, all parties renewed the "Concerted Action Agreement" on February 11, 2026. After this renewal, the actual control of the company will not change, and the actual controller remains Mr. Xu Qing. The specific circumstances are announced as follows:
I. Background of the Renewal of the Concerted Action Agreement
On September 15, 2017, the actual controller Mr. Xu Qing and his concerted actors Ms. Xu Ying and Ms. Feng Yilin signed the "Concerted Action Agreement regarding Hangzhou Hetai Electromechanical Co., Ltd." (hereinafter referred to as "the Original Concerted Action Agreement"): During the validity period of the agreement, Xu Ying and Feng Yilin would act in concert with Xu Qing (including Hetai Holdings controlled by him) regarding matters related to Hetai Electromechanical. The agreement is valid until thirty-six months after the company's stock is publicly issued and listed in China. On February 22, 2023, the company was publicly listed on the Shenzhen Stock Exchange, thus the validity of the Original Concerted Action Agreement will expire on February 21, 2026. Since the signing of the Original Concerted Action Agreement, all parties have fully complied with the commitments and agreements of concerted action, with no violations of the agreement.