Listing Announcement for Zhejiang Bofay Electric Co., Ltd. on Main Board via Simplified Procedure for Specific Objects in 2025

Special Reminder

1. Number and Price of Shares Issued

• (1) Number of shares issued: 5,166,184 shares

• (2) Issue price: 27.68 RMB/share

• (3) Total funds raised: 142,999,973.12 RMB

• (4) Net funds raised: 137,558,822.86 RMB

1. Arrangement for New Stock Listing

• (1) Number of shares listed: 5,166,184 shares

• (2) Listing date: November 27, 2025 (first trading day), stock price will not be adjusted, and trading will have price fluctuation limits.

1. Lock-up Period for Issued Shares

The shares issued via simplified procedures to specific objects cannot be transferred within six months from the listing date, starting from November 27, 2025. After the lock-up period, the relevant regulations of the China Securities Regulatory Commission and Shenzhen Stock Exchange will apply.

1. After the issuance, the company's equity distribution will meet the listing requirements of the Shenzhen Stock Exchange and will not lead to any non-compliance with stock listing conditions.

Table of Contents

• Special Reminder ....................................................................................................................... 1

• Table of Contents ....................................................................................................................... 1

• Definitions .................................................................................................................................... 1

• I. Basic Information of the Company ......................................................................................... 2

• II. Issuance of New Shares ......................................................................................................... 2

• III. Listing of New Shares .......................................................................................................... 14

• IV. Changes in Shares and Their Impact .................................................................................. 14

• V. Financial Information Analysis ............................................................................................. 16

• VI. Related Institutions for This Issuance ............................................................................... 19

• VII. Sponsor's Listing Recommendation Opinion ....................................................................... 20

• VIII. Other Important Matters ................................................................................................... 21

• IX. Documents for Reference .................................................................................................... 21

Definitions

In this listing announcement, unless otherwise specified, the following abbreviations have the following meanings:

• Company, Issuer, Bofay Electric refers to Zhejiang Bofay Electric Co., Ltd.

• This issuance refers to the act of issuing shares via simplified procedures to specific objects.

• Listing announcement refers to "Listing Announcement for Zhejiang Bofay Electric Co., Ltd. on Main Board via Simplified Procedure for Specific Objects in 2025."

• Sponsor, Lead Underwriter, Caitong Securities refers to Caitong Securities Co., Ltd.

• Issuer's Lawyer, Junyue Law Firm refers to Shanghai Junyue Law Firm.

• Issuer's Accountant, Zhongxi CPA refers to Zhongxi Certified Public Accountants (Special General Partnership).

• Verification Agency refers to Zhongxi Certified Public Accountants (Special General Partnership).

• CSRC refers to the China Securities Regulatory Commission.

• SZSE refers to the Shenzhen Stock Exchange.

• Company Law refers to the Company Law of the People's Republic of China.

• Securities Law refers to the Securities Law of the People's Republic of China.

• Management Measures refers to the Measures for the Administration of Securities Issuance and Underwriting.

• Registration Management Measures refers to the Measures for the Administration of Securities Issuance Registration of Listed Companies.

• Review Rules refers to the Review Rules for Securities Issuance and Listing of Listed Companies on the Shenzhen Stock Exchange.

• Shareholders' Meeting refers to the shareholders' meeting of Zhejiang Bofay Electric Co., Ltd.

• Board of Directors refers to the Board of Directors of Zhejiang Bofay Electric Co., Ltd.

• Reporting Period refers to the years 2022, 2023, 2024, and the first half of 2025.

• RMB, ten thousand refers to Renminbi Yuan, ten thousand.