During the Year, the Group continued to empower high quality development with technological innovation, kept consolidating its core enterprise competitiveness, upholding its market- and customer-oriented principles, with a focus on refined management. Its business made steady progress, including:

• Revenue reached approximately RMB50,341 million.
• Profit attributable to owners of the Company amounted to approximately RMB290 million.
• The Group’s comprehensive strength and market presence have long been recognised by industry and authoritative institutions. The Group continued to ranked among the “Top 500 Chinese Enterprises” (中國企業500強), “Top 500 Chinese Private-owned Enterprises” (中國民營企業500強) and “Top 500 Private-owned Enterprises in China’s Manufacturing Industry” (中國製造業民營企業500強), and also claimed a place on heavyweight lists such as the “Top 500 Chinese Energy Enterprises (Group)” (中國能源企業(集團)500強), “Fortune Top 500 Chinese Companies” (《財富》中國500強), “Global Top 500 New Energy Enterprises” (全球新能源企業500強) and “China’s Top 500 New Economy Enterprises” (中國新經濟企業500強). Furthermore, with its distinct technological innovation capability, brand influence and operational efficiency, the Group has been successfully included on the list of the “Top 500 National Technological Innovation Enterprises” (全國科技創新企業500強) and “China Brand Value Evaluation Information List” (中國品牌價值評價信息榜), and was granted the title of “National Leading Per- Acre Efficiency Enterprise” (全國畝均效益領跑者企業), speaking volumes to its brand image as an industry leader.

During the Year, with the gradual implementation of the “Safety Technical Specifications for Electric Bicycles” (《電動自行車安全技術規範》) (the “New National Standards”) in provinces and cities across the People’s Republic of China (the “PRC” or “China”), as well as the introduction of the “Implementation Plan for the Promotion of Electric Bicycles Trade-in” (推動電動自行車以舊換新實施方案), electric bike products and its consumption market had seen an acceleration in their transformation and upgrading process, and the demand for electric bikes continued to increase, thereby pushing up the demand for high-quality electric bike batteries. This development had propelled further consolidation of the industry, which was favorable to the development of leading enterprises in the production of lead-acid motive batteries for electric bikes. In addition, the ongoing growth of the e-commerce and logistics industries continued to drive the widespread adoption of electric bikes, while the “cycling craze” had led to waves of surging consumption on electric bikes, contributing to the steady development of the Group’s business.

During the Year, building on its outstanding technological strengths and product quality, coupling with well-established market channels and a strong brand, the Group had been able to maintain its leadership in the lead-acid motive battery industry. By implementing a technological innovation model that integrates multiple systems, frameworks, and approaches, and focusing on “new technologies, new materials and new products”, the Group has taken the lead in cutting-edge technologies, accelerating the commercialization process and transforming technological achievements across various motive and storage batteries made from diverse raw materials. This year saw the milestone release of its latest “CHILWEE Yen-Black Gold Series Supercar Batteries”, exemplifying its fervent drive for high-quality enterprise development through technological advancements. Focusing on market demand, the Group also devoted significant efforts to innovations in product, marketing and services, and worked on expanding its distribution network, strengthening brand building, and giving new meanings and adding values to its brand, which has further enhanced its brand influence and competitive strength.

On behalf of the Group, I would like to express my sincere gratitude to all shareholders, customers and business partners for their long-term trust and support. I would also like to thank the Board, the management and all employees for their outstanding contribution. In 2025, the Group will continue pursuing its ambitious mission of “advocating green energy and perfecting human life” (倡導綠色能源，完美人類生活). Capitalising on opportunities presented by China’s “dual-carbon” strategy in the sector, we will actively work toward our “zero-carbon CHILWEE” and “Smart CHILWEE” initiatives, making strong progress toward green development. Furthermore, we will strengthen our efforts in pursuing the “go global” strategy, exploring overseas markets, and expanding into overseas industries through various means. We will continue working towards building a global new energy platform, with the ambition of reaching new heights and opening a new chapter in its development, ultimately delivering greater returns to our shareholders.