Hefei Xueqi Electric Co., Ltd.
Simplified Report on Changes in Equity
Section 1 Definitions
In this report, unless otherwise specified, the following terms have the meanings set forth below:
| Term | Meaning |
|---|---|
| Information Disclosure Obligor | Liu Xiang |
| Company, Listed Company, Xueqi Electric | Hefei Xueqi Electric Co., Ltd. |
| This Equity Change | The act of the Information Disclosure Obligor acquiring shares of the Company through an agreement transfer, with the number of acquired shares accounting for 12.6481% of the Company's total share capital. |
| Simplified Report on Changes in Equity, Report, This Report | "Hefei Xueqi Electric Co., Ltd. Simplified Report on Changes in Equity" |
| China Securities Regulatory Commission, CSRC | China Securities Regulatory Commission |
| Stock Exchange | Shenzhen Stock Exchange |
| RMB, Ten Thousand Yuan | Renminbi Yuan, Renminbi Ten Thousand Yuan |
Section 2 Introduction of the Information Disclosure Obligor
I. Basic Information of the Information Disclosure Obligor
As of the date of signing this report, the basic information of the Information Disclosure Obligor, Liu Xiang, is as follows:
| Name | Liu Xiang |
|---|---|
| Gender | Male |
| Nationality | China |
| Identity Card Number | 310104197911****** |
| Mailing Address | No. 95 Waihuan West Road, Ningguo City, Xuancheng City, Anhui Province |
| Whether holding residency rights in other countries or regions | No |
The Information Disclosure Obligor is not a person subject to enforcement for dishonesty.
II. Circumstances where the Information Disclosure Obligor holds shares in domestic and overseas listed companies reaching or exceeding 5% of the issued shares of such companies
As of the date of signing this report, in addition to holding shares in Xueqi Electric, the Information Disclosure Obligor does not hold shares in any other domestic or overseas listed company reaching or exceeding 5% of the issued shares of such companies.
Section 3 Purpose of Equity Change and Subsequent Plans
I. Purpose of This Equity Change
The purpose of this equity change is that the Information Disclosure Obligor, based on recognition of the Company's future development prospects and investment value, intends to acquire shares of the Company through an agreement transfer using its own funds, to support the Company's long-term, healthy, and stable sustainable development.
II. Shareholding Plan of the Information Disclosure Obligor in the Next 12 Months
The Information Disclosure Obligor undertakes not to reduce its holdings of the transferred shares of the listed company within 18 months from the completion of the transfer registration of the equity change.
The Information Disclosure Obligor undertakes not to seek control of the listed company in any way, and there are no arrangements or plans to seek control.
As of the date of signing this report, the Information Disclosure Obligor has no definite plan to increase its holdings of shares in the listed company within the next 12 months, but it does not rule out the possibility of changes in its equity interests within the next 12 months. If relevant equity change matters occur, the Information Disclosure Obligor will strictly fulfill its information disclosure and other relevant obligations in accordance with laws and regulations.
Section 4 Method of Equity Change
I. Method of This Equity Change
The method of this equity change is that the Information Disclosure Obligor will acquire 23,149,900 shares of the listed company held by Anhui Zhidao Investment Co., Ltd. through an agreement transfer, accounting for 12.6481% of the Company's total share capital. The parties to the transaction signed the "Share Transfer Agreement" on July 3, 2026. The final equity change will occur on the date of completion of the share transfer registration procedures by China Securities Depository and Clearing Corporation Limited Shenzhen Branch.