Announcement on Major Contract for Wholly-Owned Subsidiary's Daily Operations

Shanghai Hongying Intelligent Technology Co., Ltd.

Announcement on Major Contract for Wholly-Owned Subsidiary's Daily Operations

The company and all members of its board of directors guarantee the truthfulness, accuracy, and completeness of the information disclosed, and that there are no false records, misleading statements, or significant omissions.

Special Notes:

1. The implementation of this project has a certain cycle. During the performance of the contract, it may be affected by factors such as relevant policies and regulations, macroeconomic conditions, and market environment changes, which may lead to risks such as construction period delays, changes, suspensions, or terminations, or failure to achieve expected returns. The impact of the project on the company's future financial condition and operating performance depends on the specific progress and implementation of the project. The company will actively take corresponding measures to ensure the normal performance of the contract. If this project is successfully implemented, it will have a positive impact on the company's future operating performance. Due to the uncertainty of the project implementation progress and acceptance time, the specific impact of this project on the company's financial condition and operating results for the current year is uncertain.
2. Contract effective conditions: The contract shall take effect from the date it is affixed with the official seal or special contract seal of all parties.
3. Investors are advised to make decisions cautiously and be aware of investment risks.

I. Background and Signing of the Contract

1. Shanghai Hongying Intelligent Technology Co., Ltd. (hereinafter referred to as "the Company"), its wholly-owned subsidiary Shanghai Hongying New Energy Technology Co., Ltd. (hereinafter referred to as "Hongying New Energy" or "Consortium Lead"), Ningxia Communications Construction Co., Ltd., and Inner Mongolia Yinhe Electric Power Installation Engineering Co., Ltd. (hereinafter collectively referred to as "the Consortium" or "the Contractor") signed the "Yinghua Gansu Baiyin 200MW/800MWh Independent Energy Storage Power Station Project EPC General Contracting Contract" (Contract No.: HYXNY-YZLN-2026001) with Yingzhuo Green Energy (Gansu) New Energy Development Co., Ltd. (hereinafter referred to as "Yingzhuo Green Energy" or "the Employer") on June 18, 2026. The total contract price (including tax) is RMB 664,000,000.00 (in words: Six Hundred and Sixty-Four Million Yuan). Among them, the cost for Hongying New Energy to supply equipment and complete the work content stipulated in the general contracting contract is RMB 532,321,350.00 in total (including tax) (in words: Five Hundred and Thirty-Two Million, Three Hundred and Twenty-One Thousand, Three Hundred and Fifty Yuan).

2. This contract is a daily operating contract of the company and does not require approval from the company's board of directors and shareholders' meeting.

II. Introduction of Parties to the Cooperation