Announcement on Using Raised Funds to Acquire Equity and Increase Capital

Guangdong LvTong New Energy Electric Vehicle Technology Co., Ltd.

Announcement on Using Raised Funds to Acquire Equity and Increase Capital

The company and all members of its board of directors guarantee that the content of this information disclosure is true, accurate, and complete, and that there are no false records, misleading statements, or major omissions.

Special Reminder:

1. Amount of Raised Funds to be Used: 10,026.8251 million yuan.

2. Risk Warning: Suzhou Chengrui Technology Co., Ltd. (hereinafter referred to as "Chengrui Technology" or the "target company") had operating revenue of 17.6520 million yuan and net profit attributable to the parent company of -247.85 million yuan in 2025. These figures represent 1.78% and -5.63% of Guangdong LvTong New Energy Electric Vehicle Technology Co., Ltd.'s (hereinafter referred to as the "Company" or the "listed company") operating revenue and net profit attributable to the parent company in 2025, respectively. Currently, its overall business scale is small and has little impact on the company's production and operation. As of March 31, 2026, the balance of net assets attributable to the parent company of the target company was 7.7608 million yuan, with a valuation of 143.00 million yuan, representing an appreciation of 1742.59%. The valuation increase is significant. If this transaction is completed and included in the consolidated financial statements of the company, it may face risks such as asset valuation impairment, goodwill impairment, technological obsolescence, high customer concentration, acquisition integration and standardization, and failure to achieve performance commitments. For specific details of the risks related to this transaction, please refer to "VI. Major Risk Warnings" in this announcement. Investors are advised to make cautious decisions and be aware of investment risks.

3. Purpose of Using Raised Funds: The company plans to use 4,026.8251 million yuan of raised funds to acquire a 29.4773% equity interest in Chengrui Technology from Jiang Jianjun and Suzhou Rongxiang Venture Capital Partnership (Limited Partnership) (hereinafter referred to as "Suzhou Rongxiang") (corresponding to a registered capital of 98.2577 million yuan in the target company). On the basis of the above equity transfer, the company will use 6,000 million yuan of raised funds to increase capital in Chengrui Technology, obtaining a 30.5188% equity interest after the capital increase (corresponding to a registered capital of 146.4129 million yuan in the target company). The total amount of raised funds used in this transaction is 10,026.8251 million yuan (hereinafter referred to as "this transaction"). After the completion of this transaction, the company will hold a total of 51% equity interest in Chengrui Technology (corresponding to a registered capital of 244.6706 million yuan after the capital increase in the target company). The target company will become a controlling subsidiary of the listed company and will be included in the consolidated financial statements of the listed company.

4. Deliberation Procedures for Using Raised Funds: This transaction has been reviewed and approved by the tenth meeting of the fourth board of directors of the company.

The board meeting was convened and approved. In accordance with the "Supervision Measures for the Management of Raised Funds of Listed Companies," "Shenzhen Stock Exchange Listed Company Self-Regulatory Guidelines No. 2 - Norms for the Operation of GEM Companies," and other relevant regulations, this transaction still needs to be submitted for approval by the company's shareholders' meeting. The board of directors agrees to submit this matter to the shareholders' meeting for deliberation and requests the shareholders' meeting to authorize the company's management to handle relevant matters related to this investment. The completion of this transaction is uncertain.