Announcement Regarding Share Transfer by Shareholder Holding Over 5% and Change in Equity

Securities Code: 001387

Securities Abbreviation: Xueqi Electric

Announcement Number: 2026-034

Announcement Regarding Share Transfer by Shareholder Holding Over 5% and Change in Equity

The Company and all members of the Board of Directors guarantee that the information disclosed is true, accurate, and complete, and that there are no false records, misleading statements, or significant omissions.

Key Content Reminder:

1. Hefei Xueqi Electric Co., Ltd. (hereinafter referred to as the "Company") has learned that Anhui Zhidao Investment Co., Ltd. (hereinafter referred to as the "Transferor" or "Zhidao Investment"), a shareholder holding over 5% of the shares, signed a "Share Transfer Agreement of Hefei Xueqi Electric Co., Ltd." (hereinafter referred to as the "Share Transfer Agreement") with Liu Xiang (hereinafter referred to as the "Transferee") on July 3, 2026. Zhidao Investment intends to transfer 23,149,900 shares of the Company (accounting for 12.6481% of the Company's total share capital) to Liu Xiang through an agreement transfer.

2. This agreement transfer does not trigger a mandatory bid, does not involve related party transactions, will not result in a change of the Company's controlling shareholder or actual controller, will not result in a change of the Company's control, and will not have a significant impact on the Company's governance structure and future sustainable operations.

3. The transferee, Liu Xiang, in this agreement transfer, undertakes that within 18 months from the date of completion of the transfer registration of the subject shares, he will not reduce the listed company shares acquired in this transfer in any form. He will not seek to control the listed company in any way, and there are no arrangements or plans to seek control.

4. The transfer of the Company's shares through this agreement is subject to compliance confirmation by the Shenzhen Stock Exchange and the completion of share transfer procedures at China Securities Depository and Clearing Corporation Limited.

5. The completion of this share transfer matter is still uncertain. The Company will closely monitor the progress of this share transfer matter and urge both parties to the transaction to fulfill their information disclosure obligations in a timely manner in accordance with relevant laws and regulations. Investors are advised to be aware of investment risks and invest rationally!

I. Overview of the Agreement Transfer

(I) Basic Situation of This Agreement Transfer

1. Anhui Zhidao Investment Co., Ltd.

Shareholder Name: Anhui Zhidao Investment Co., Ltd.

Unified Social Credit Code: 91340100065204899D

Legal Representative: Ren Xinjing

Registered Address and Principal Place of Business: 15th Floor, Block A, Zhengqi Financial Plaza, Linquan Road, Luyang District, Hefei City

Enterprise Type: Limited Liability Company (Wholly Owned by Non-natural Person Investment or Holding Legal Person)

Registered Capital: RMB 600 million

Date of Establishment: March 25, 2013

Business Term: March 25, 2013 to March 21, 2043

Business Scope: Equity investment, project investment (excluding licensed projects), asset management; enterprise mergers and acquisitions and restructuring; investment management and consulting. (Projects subject to approval according to law shall be carried out after approval by relevant departments)

As of the disclosure date of this announcement, the shareholder structure of Zhidao Investment is as follows:

The Transferor does not fall under the circumstances stipulated in Article 5, Article 6, and Article 9 of the "Shenzhen Stock Exchange Listed Company Self-Regulatory Guidelines No. 18 - Reduction of Shares by Shareholders and Directors, Supervisors, and Senior Management."

(II) Transferee Information

Name: Liu Xiang

Gender: Male

Nationality: China

ID Number: 310104197911******

Mailing Address: Ningguo City, Xuancheng City, Anhui Province, Waihuan West Road No. 95

Whether to Obtain Residency in Other Countries or Regions: No