Dongguan Securities Co., Ltd. Trustee Management Report on Bear Electric Co., Ltd.'s Issuance of Convertible Corporate Bonds to Non-Specific Targets (2025 Annual)

Securities Abbreviation: Bear Electric; Securities Code: 002959 Bond Abbreviation: Bear Convertible Bonds; Bond Code: 127069

Dongguan Securities Co., Ltd. Trustee Management Report on Bear Electric Co., Ltd.'s Issuance of Convertible Corporate Bonds to Non-Specific Targets (2025 Annual)

Bond Trustee: Dongguan Securities Co., Ltd. (Address: No. 1 Keyuan South Road, Guancheng District, Dongguan City) June 2026

Important Statement

In accordance with the "Administrative Measures for the Issuance and Trading of Corporate Bonds" (hereinafter referred to as the "Trading Management Measures"), the "Administrative Measures for Convertible Corporate Bonds" (hereinafter referred to as the "Management Measures"), the "Trustee Management Agreement between Bear Electric Co., Ltd. and Dongguan Securities Co., Ltd. regarding Bear Electric Co., Ltd.'s Issuance of Convertible Corporate Bonds to Non-Specific Targets" (hereinafter referred to as the "Trustee Management Agreement"), the "Prospectus for Bear Electric Co., Ltd.'s Issuance of Convertible Corporate Bonds to Non-Specific Targets," the "Guidelines for the Professional Conduct of Corporate Bond Trustees," and other relevant regulations and agreements, Dongguan Securities Co., Ltd. (hereinafter referred to as "Dongguan Securities"), as the trustee, has prepared this periodic trustee management report based on public disclosure documents, relevant explanatory documents issued by the issuer, and professional opinions issued by third-party intermediary agencies.

This report does not constitute a recommendation for investors to perform or refrain from any specific action. Investors should make independent judgments on relevant matters and should not rely on any content in this report as a commitment or statement made by Dongguan Securities. Without the written permission of Dongguan Securities, this report may not be used for any other purpose.

Table of Contents

1. Important Statement
2. Table of Contents
3. Definitions
4. Section 1: Basic Information of the Current Bonds
5. Section 2: Performance of Duties by the Bond Trustee
6. Section 3: Issuer's Operations and Financial Status
7. Section 4: Use of Proceeds and Operation and Verification of Special Accounts
8. Section 5: Analysis of the Effectiveness of Internal and External Credit Enhancement Mechanisms and Debt Repayment Safeguards
9. Section 6: Execution of Debt Repayment Safeguards and Payment of Principal and Interest
10. Section 7: Meetings of Bondholders
11. Section 8: Follow-up Rating of the Bonds
12. Section 9: Other Matters Significantly Affecting Bondholders' Rights and Interests

Definitions

In this report, unless the context otherwise requires, the following terms have the following meanings:

Section 1: Basic Information of the Current Bonds

1. Approval Documents