Shouhang High-tech Energy Technology Co., Ltd. (hereinafter referred to as the "Company") held the 46th meeting of the third board of directors on November 27, 2019 and the third extraordinary general meeting of shareholders in 2019 held on December 13, 2019 The "Plan on Repurchase of Company Shares" was reviewed and approved. The company intends to use its own funds and funds that meet the requirements of regulatory policies and regulations to repurchase some company shares through centralized bidding transactions, the total repurchase amount shall not be less than 460 million yuan and not more than 920 million yuan, and the repurchase price shall not exceed 5.38 yuan/share. The Company has disclosed the Repurchase Report in the designated disclosure media on December 14, 2019.

I. Progress in the repurchase of the Company's shares

According to the "Implementation Rules for the Repurchase of Shares by Listed Companies on the Shenzhen Stock Exchange" (hereinafter referred to as the "Implementation Rules") and other relevant laws and regulations, listed companies shall announce the progress of the repurchase as of the end of last month within the first 3 trading days of each month during the repurchase period, including the number and proportion of repurchased shares, the highest and lowest prices purchased, and the total amount paid. The repurchase progress is now announced as follows:

As of January 31, 2020, the company repurchased shares through a centralized bidding transaction through a special securities account for stock repurchase. The number of repurchased shares was 26,684,190.00 shares, accounting for about 1.051 of the company's current total share capital. The highest purchase price was 3.55 yuan/share, the lowest purchase price was 3.15 yuan/share, and the total payment amount was 93,590,376.48 yuan (excluding transaction costs). This repurchase meets the requirements of the Company's repurchase program.

II. Other Notes

The time for the Company to repurchase shares, the number of shares to be repurchased and the entrusted period for centralized bidding transactions are in compliance with the relevant provisions of Articles 17, 18 and 19 of the Rules for the Implementation of Share Repurchase by Listed Companies on the Shenzhen Stock Exchange.

1. The Company did not repurchase shares during the following periods:

(1) Within ten trading days prior to the announcement of the company's periodic report, performance forecast or performance bulletin;

(2) From the date of occurrence of material events that may have a material impact on the trading price of the Company's shares or in the course of decision-making, to two trading days after disclosure in accordance with the law;

(3) Other circumstances prescribed by the CSRC.

2. The cumulative trading volume of the company's shares in the five trading days before the date of the company's first share repurchase (December 17, 2019) was 137,115,100 shares, and the number of shares repurchased by the company every 5 trading days did not exceed the fact of the first share repurchase 25% of the cumulative trading volume of the company's shares in the 5 trading days before the date of occurrence (I. e. 34,278,775 shares).

3. The Company did not entrust the repurchase of shares at the following trading times:

(1) Open pooled bidding;

(2) Within half an hour before the closing;

(3) There is no limit on the price of shares. The price at which the Company repurchases shares does not exceed the price at which the Company's shares are traded on the same day.

4. The company will continue to implement the repurchase plan within the repurchase period according to market conditions, and perform information disclosure obligations in a timely manner in accordance with relevant laws, regulations and regulatory documents. Please the majority of investors to pay attention to investment risk.

It is hereby announced.

Shouhang Gaoke Energy Technology Co., Ltd.

Board of Directors

February 3, 2020