2025 Special Report on the Storage, Management, and Use of Raised Funds

Securities Code: 300953 Securities Abbreviation: Zhenyu Technology Announcement Number: 2026-033 Ningbo Zhenyu Technology Co., Ltd. 2025 Special Report on the Storage, Management, and Use of Raised Funds The Company and the entire Board of Directors guarantee that the information disclosed is true, accurate, and complete, and contains no false records, misleading statements, or material omissions. In accordance with the "Supervision Regulations on the Management of Raised Funds by Listed Companies," the "Shenzhen Stock Exchange GEM Stock Listing Rules," and the "Shenzhen Stock Exchange Listed Company Self-Regulatory Management Guide No. 2—Normative Operation of GEM Listed Companies," among other relevant regulations, and as reviewed and approved by the twelfth meeting of the fifth Board of Directors of Ningbo Zhenyu Technology Co., Ltd. (hereinafter referred to as the "Company," "this Company," or "Zhenyu Technology"), the "2025 Special Report on the Storage, Management, and Use of Raised Funds" has been compiled as follows: I. Basic Situation of Raised Funds (I) Status of Raised Funds from the Issuance of Convertible Bonds to Unspecified Objects With the approval of the China Securities Regulatory Commission's "Approval on the Registration of Ningbo Zhenyu Technology Co., Ltd. for the Issuance of Convertible Bonds to Unspecified Objects" (Zhengjian Xu Ke (2023) No. 1995), the Company issued 11.95 million convertible bonds to unspecified objects on October 20, 2023. Each bond had a face value of RMB 100, raising a total of RMB 119,500.00 million. After deducting issuance expenses of RMB 1,231.26 million (excluding tax), the net amount of raised funds was RMB 118,268.74 million. These raised funds were transferred to the Company's designated account on October 26, 2023. The above status of raised funds has been audited by Huizhong Certified Public Accountants (Special General Partnership), who issued the "Capital Verification Report" (Zhonghui Hui Yan [2023] No. 9625). (II) Use and Balance of Raised Funds As of December 31, 2025, the balance of unused raised funds was RMB 16,822.60 million (including RMB 16,742.60 million for cash management of raised funds), as detailed in the table below: Item Amount (RMB million) Net amount of raised funds 118,268.74 Less: Amount of self-raised funds used to replace advance investment 8,401.36 Less: Investment in raised fund projects 93,875.74 Less: Idle raised funds temporarily used for working capital 28,000.00 Less: Handling fees 0.07 Less: Balance of raised funds transferred out 11.30 Add: Interest income 842.33 Add: Repayment of idle raised funds temporarily used for working capital 28,000.00 Balance of unused raised funds 16,822.60 Of which: Balance at the end of the period for cash management 16,742.60 Note: As of December 31, 2025, the Company's structural deposits for cash management of raised funds amounted to RMB 5,000 million, and the agreed deposit amount was RMB 11,742.60 million. II. Storage and Management of Raised Funds (I) Establishment of Management System for Raised Funds To standardize the management of raised funds, improve the efficiency and effectiveness of their use, ensure fund security, and protect the legitimate rights and interests of investors, in accordance with the "Company Law of the People's Republic of China," the "Securities Law of the People's Republic of China," the "Supervision Regulations on the Management of Raised Funds by Listed Companies," the "Shenzhen Stock Exchange GEM Stock Listing Rules," the "Shenzhen Stock Exchange Listed Company Self-Regulatory Management Guide No. 2—Normative Operation of GEM Listed Companies," and other relevant laws, regulations, and normative documents, and in conjunction with the Company's actual situation, the Company has formulated the "Management Measures for the Use of Raised Funds." (II) Implementation of Management System for Raised Funds The Company has established special accounts for raised funds. The Company has signed "Raised Funds Tripartite Supervision Agreements" with the Ninghai Branch of Industrial and Commercial Bank of China, the Ninghai Branch of China Construction Bank, the Ningbo Ninghai Branch of Bank of Communications, and the sponsor, Guolian MinSheng Securities Underwriting and Sponsorship Co., Ltd. (hereinafter referred to as "Guolian MinSheng Sponsorship"). The Company and its wholly-owned subsidiary, CATL Ningbo Zhenyu Automotive Parts Co., Ltd., have signed a "Raised Funds Quadrip