Whereas, in October 2022, Shouhang High-tech Energy Technology Co., LTD. (hereinafter referred to as the "Company" or "Shouhang High-tech") applied for Gansu Financial Holding Financing Guarantee Group Co., LTD to entrust Huaxia Bank Co., LTD. Lanzhou Branch to issue entrusted loans to the Company, with a principal amount of RMB 28,000.00 yuan (in words: Two hundred and eighty million yuan) for a period of 12 months. Due to the expiration of the term, the company intends to continue to apply for entrusted loans.

At the fourth meeting of the fifth session of the Board of Directors held on November 8, 2023, the Company deliberated and passed the Motion on the Company's continued application for entrusted Loans and the Motion on authorizing the Chairman to handle and sign entrusted loans. On November 9, 2023, the company issued the Announcement on Continuing to apply for entrusted Loans to disclose (Announcement number: 2023-074).

Due to the company's business needs and the requirements of the bank, it is decided to adjust the purpose of the entrusted loan. The original purpose of the entrusted loan is to meet the company's normal working capital and daily production and operation needs, and the purpose of the entrusted loan after this adjustment is to repay the entrusted loan issued by Huaxia Bank Lanzhou Branch on October 21, 2022. According to the requirements of the bank, the adjustment of the purpose of the entrusted loan needs to be implemented after deliberation and approval by the board of directors of the company.

After the approval of this Board of Directors, the "Motion on the Company's continued application for entrusted Loans" and the "Motion on authorizing the Chairman to handle and sign entrusted loans" approved by the fourth meeting of the fifth Board of Directors held on November 8, 2023 will no longer be performed. Subsequent entrusted loans shall be performed on matters considered by this board of Directors. The relevant matters are hereby announced as follows:

I. Overview of the loan situation

The Company held the sixth meeting of the fifth Board of Directors on January 24, 2024, and reviewed and passed the Motion on the Company's continued application for entrusted loans. In order to meet the needs of normal production and operation and normal working capital turnover, Gansu Financial Holding Financing Guarantee Group Co., Ltd. entrusts Huaxia Bank Co., LTD. Lanzhou Branch to issue entrusted loans to the Company with a principal of RMB 26,000.00 yuan (in words: Two hundred and sixty million yuan only) with a term of 12 months. The interest rate and effective date of the loan are subject to the signing of the contract. For the above loan company, the full amount of legal property owned or actually controlled shall be pledged as a guarantee measure for the debts under this Agreement.

The principal purpose of this entrusted loan is to repay the entrusted loan issued by Huaxia Bank Lanzhou Branch on October 21, 2022.

This entrusted loan has been reviewed and approved at the sixth meeting of the fifth session of the Board of Directors of the Company, and authorized the chairman of the company to handle the signing of specific entrusted loans and asset mortgage matters, without the need to submit to the company's general meeting for consideration.

Ii. Matters authorized for this entrusted loan

In order to ensure that the entrusted loan work can be carried out orderly and efficiently, the Board of directors of the company authorizes the chairman to sign and handle the relevant materials and matters related to the entrusted loan, including but not limited to: signing the contracts, agreements and documents related to the entrusted loan; Handle all other necessary matters related to the entrusted loan.

Third, the impact on the company

The company applied for entrusted loans to adjust the debt structure, to maintain the company's normal production and business activities have a role in promoting the company's long-term sustainable development, in line with the company's overall, long-term interests.

It is hereby announced.

First Hang high-tech Energy Technology Co., LTD

Board of directors

January 24, 2024