Announcement on Wholly-Owned Subsidiary's Investment in Establishing a Joint Venture Company

Securities Code: 002196 Securities Abbreviation: Founder Motor Announcement No.: 2026-027

Zhejiang Founder Motor Co., Ltd.

Announcement on Wholly-Owned Subsidiary's Investment in Establishing a Joint Venture Company

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 material omissions.

I. Overview of External Investment

1. Basic Situation of External Investment

Shanghai Hainen Automotive Electronics Co., Ltd. (hereinafter referred to as "Shanghai Hainen"), a wholly-owned subsidiary of Zhejiang Founder Motor Co., Ltd., has signed a "Joint Venture Agreement" with Guangxi Jukong Industrial Investment Co., Ltd. (hereinafter referred to as "Guangxi Jukong") to jointly establish a joint venture company. The registered capital of the joint venture company is RMB 35 million. Guangxi Jukong will contribute RMB 21.35 million in cash, accounting for 61% of the total investment. Shanghai Hainen will contribute RMB 13.65 million in cash, accounting for 39% of the total investment.

1. Board of Directors' Deliberation and Voting Situation:

The Company's Ninth Board of Directors held its Second Meeting on August 10, 2026, and deliberated and approved the "Proposal on Wholly-Owned Subsidiary Shanghai Hainen Automotive Electronics Co., Ltd. Investing Externally to Establish a Joint Venture Company". According to the "Articles of Association" and the "Shenzhen Stock Exchange Stock Listing Rules" and other relevant regulations, this investment matter does not require submission to the shareholders' meeting for deliberation and will be registered for the establishment of the new company in accordance with the relevant regulations of its place of registration.

1. Whether it Constitutes a Related Party Transaction

This external investment matter does not involve related party transactions and does not constitute a major asset restructuring as stipulated in the "Measures for the Major Asset Restructuring of Listed Companies".

II. Basic Information of the Counterparty to the Transaction

1. Company Name: Guangxi Jukong Industrial Investment Co., Ltd.

2. Unified Social Credit Code: 91450902MAKHTHLX7C

3. Legal Representative: Ling Guangjian

4. Registered Capital: Twenty-one million three hundred and fifty thousand Yuan

5. Registered Address: No. 2, Yuchai Road, Yuzhou District, Yulin City, Guangxi

6. Business Scope: Engaging in investment activities with its own funds; enterprise management consulting; technology services, technology development, technology consulting, technology exchange, technology transfer, technology promotion (except for projects subject to approval according to law, business activities can be carried out independently with a business license).

7. Major Shareholder Information: Guangxi Yuchai Machinery Group Co., Ltd. holds 80%, and Yulin Zhikong Investment Partnership (Limited Partnership) holds 20%.

(II) Other Descriptions of the Counterparty to the Transaction

The main shareholders and actual controllers of Guangxi Jukong Industrial Investment Co., Ltd. are not listed as dishonest persons subject to enforcement, and they have no relationship with the Company, the Company's controlling shareholder and actual controller, shareholders holding more than 5% of the shares, or the Company's directors and senior management.

III. Basic Information of the Investment Target