2025 Annual Report

Important Notes, Directory, and Definitions

The Board of Directors and senior management of Shenzhen UUGreenPower Co., Ltd. guarantee that the content of the annual report is true, accurate, and complete, with no false records, misleading statements, or significant omissions, and bear individual and joint legal responsibilities. The responsible person Bai Jianguo, the head of accounting Chen Nailiang, and the head of the accounting institution (accounting supervisor) Guo Rui declare: 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.

During the reporting period, the company's net profit significantly declined year-on-year, mainly due to:
1. Increased domestic industry competition and adjustments in overseas regional policies. In terms of domestic sales, the sales volume of charging modules in 2025 increased compared to the same period last year, but the selling price of major products gradually decreased during the reporting period, leading to a significant decline in the gross profit margin of some products compared to the same period last year. In terms of exports, the economic environment in Europe and the United States and adjustments in regional new energy-related subsidy policies led to a slowdown in customer demand, resulting in a significant decline in the relatively high-gross-margin export market year-on-year.
2. During the reporting period, the proportion of the company's domestic sales business increased, coupled with intensified domestic industry competition and relatively long customer payment cycles, resulting in a significant increase in accounts receivable balance. The provision for credit impairment losses on accounts receivable in 2025 increased significantly compared to the same period last year.
3. The company continued to introduce key R&D personnel and increased R&D investment, leading to a year-on-year increase in R&D expenses.
For details on the industry situation, main business, core competitiveness, and measures to improve profitability, please refer to "Section 3 Management Discussion and Analysis" of this report. The company's main financial indicators can be found in "Section 2 Company Profile and Main Financial Indicators" of this report. The company does not face significant risks in continuing operations. Forward-looking statements regarding future development plans in this report do not constitute substantial commitments to investors. Investors and related parties should maintain sufficient awareness of risks and understand the differences between plans, forecasts, and commitments. Investors are advised to read carefully and pay attention to investment risks regarding the risks the company may face, as stated in "Section 3 Management Discussion and Analysis" under "11. Outlook for Future Development."

The profit distribution plan approved by the board of directors is: based on 42,053,128 shares, a cash dividend of 8.00 RMB (including tax) will be distributed for every 10 shares to all shareholders, with no bonus shares (including tax), and 4 bonus shares will be distributed for every 10 shares from the capital reserve.

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Important Notes, Directory, and Definitions

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