Dear Sunwoda Family,

Happy New Year to all of you!

As time marches forward and our striving never ceases, the year 2025 has quietly arrived. Standing at the forefront of the new energy industry in this era, we at Sunwoda embrace the new year with full passion and aspiration. On behalf of Sunwoda, I would like to extend my most sincere New Year greetings to every member of the Sunwoda family who has worked diligently and strived for progress. I also want to express my deepest gratitude and respect to our global customers who have given us firm support and trust for a long time, our upstream and downstream partners who have walked side by side and made progress together with us, and the family members of our employees who have made silent contributions and provided full support behind the scenes!

The year 2024 marked the first year of our efforts to anchor the new five-year strategic plan and achieve leapfrog development.

In this year, the new energy battery industry witnessed drastic changes, with accelerated technological iteration and reshaped market pattern. Faced with the constantly changing external environment, all Sunwoda employees rose to the challenge, actively responded to various difficulties. All business segments of the company worked in synergy to continuously improve the quality of operations. The consumer battery business achieved steady growth, the power battery business made remarkable progress, the energy storage system business achieved key breakthroughs, the smart hardware business thrived, and the innovation and ecological business also maintained a sound development momentum.

Over the past year, our brand strength has been continuously enhanced. The company ranked 17th in the Global New Energy Top 500. Our 3C consumer battery business continued to maintain its global leading position. The energy storage system was awarded as a BNEF Tier 1 global top-tier energy storage manufacturer and won the "First Prize of Electric Power Science and Technology Progress Award", which demonstrates our profound accumulation and unremitting innovation in the new energy field.

In the past year, we made steady progress in our industrial layout. The Zhejiang Lixin Industrial Park was put into operation, 4 subsidiaries were certified as the first batch of "carbon-neutral" parks, and the construction of several overseas industrial parks was in full swing. Our pace of going global has become more firm and powerful.

Over the past year, we received frequent good news in market cooperation. The 1,000,000th HEV hybrid vehicle battery and the 100,000th battery pack for Li Auto rolled off the production line one after another... We have won continuous recognition from customers with our outstanding performance.

In the past year, we achieved fruitful results in product innovation. Surprises came one after another, including the Flash Charge Battery 3.0, the 600+Ah new energy storage cell, and the 10-meter integrated mobile energy storage vehicle. New products such as the Yifeng series batteries, the Dianjing intelligent cell sensors, and the commercial vehicle ultra-fast charging batteries also emerged in succession. In addition, the business scope of power cells was further expanded, and relevant products obtained the certification of China Classification Society. The 3C consumer battery business made continuous breakthroughs, with new materials and new technologies emerging one after another, and energy density constantly improving. We have continued to lead the industry forward through innovation.

Looking back on 2024, every step of Sunwoda was full of challenges, and every achievement was the crystallization of the team's wisdom and hard work. Thank you to every family member for your hard work; you have all worked so hard!

Looking forward to 2025, the competition in the new energy market will become more fierce, and technological changes will be more profound. Faced with new challenges, we should carry forward the spirit of diligence and courage - "striving for progress without being urged", and march forward bravely towards the goal of "becoming a respected world-class new energy enterprise", making greater contributions to the industry and society.

In the face of escalating technological challenges, we will increase R&D investment and build innovation capabilities from four dimensions: management model, R&D team, platform construction, and knowledge application. In the face of increasingly fierce industry competition, we will focus on industrial integration, coordinated development, orderly competition, and efficient cooperation, and work together with partners in the industrial chain to achieve common development. In the face of the ever-changing global market, we will accelerate the establishment of a multi-level cooperation network that is globalized, green, and source-oriented, so as to maintain long-term competitiveness through open cooperation.

Striding forward on Sunwoda's journey, we will meet extraordinary achievements. In 2025, let us take practical actions to deliver a satisfactory answer that lives up to ourselves, the industry, and the times!

Finally, I wish you all a happy family, all the best, and good health in the new year!

Sunwoda Electronics Co., Ltd.