2023 Annual Report (Corrected Version)

Important Notes, Directory, and Definitions

The Board of Directors, Supervisory Board, and senior management of the company guarantee that the content of the annual report is true, accurate, and complete, with no false records, misleading statements, or significant omissions, and they bear individual and joint legal responsibilities. The responsible person, Hu Baoquan, the head of accounting, Chen Yashu, and the head of the accounting institution (accounting supervisor), Zhang Huiying, declare that they ensure the truthfulness, accuracy, and completeness of the financial report in this annual report. All directors have attended the board meeting to review this report. Forward-looking statements regarding future plans in this annual report do not constitute substantial commitments to investors, and investors are advised to pay attention to investment risks. Risks that the company may face are detailed in Section 3 "Management Discussion and Analysis" under "11. Outlook for the Company's Future Development." The company plans not to distribute cash dividends, issue bonus shares, or increase capital from reserves.

Directory

1. Important Notes, Directory, and Definitions ....................................................................................................................... 2
2. Company Profile and Key Financial Indicators .................................................................................................................. 6
3. Management Discussion and Analysis .................................................................................................................................. 11
4. Corporate Governance .......................................................................................................................................................... 28
5. Environmental and Social Responsibility .......................................................................................................................... 52
6. Important Matters .................................................................................................................................................................. 55
7. Changes in Shares and Shareholder Information ............................................................................................................... 67
8. Preferred Shares Information ............................................................................................................................................... 76
9. Bond Information .................................................................................................................................................................. 77
10. Financial Report .................................................................................................................................................................... 78

Documents for Reference

1. The text of the 2023 Annual Report signed by the company's legal representative;
2. Financial statements signed and stamped by the responsible person, head of accounting, and head of the accounting institution;
3. Original audit report stamped by the accounting firm and signed by the certified public accountant;
4. All original documents and announcements publicly disclosed on the information disclosure platform designated by the China Securities Regulatory Commission during the reporting period. The above reference documents are kept at the Securities Department office of Hangzhou Gaoxin Materials Technology Co., Ltd.

Definitions