Stock code: 688567 Stock abbreviation: Funeng Technology Announcement No.: 2025-009

Funeng Technology (Ganzhou) Co., Ltd

Announcement on the use of part of the idle raised funds to temporarily replenish liquidity

The board of directors and all directors of the company guarantee that there is no false record, misleading statement or material omission in the content of this announcement, and assume legal responsibility for the authenticity, accuracy and completeness of its content in accordance with the law.

On February 7, 2025, Funeng Technology (Ganzhou) Co., Ltd. (hereinafter referred to as the "Company" or "Funeng Technology") held the 39th meeting of the second board of directors and the 28th meeting of the second board of supervisors respectively, and deliberated and passed the "Proposal on Using Part of the Idle Raised Funds to Temporarily Replenish Liquidity", and agreed that the Company will use the idle raised funds of no more than RMB 70,000 (inclusive) to temporarily replenish the liquidity on the premise of ensuring the normal progress of the investment project of the raised funds. The period of use shall not exceed 10 months from the date of this Board of Directors' deliberation and approval. The company will return it to the special account for raised funds in a timely manner according to the progress and demand of the raised funds investment project. The company's sponsor, Soochow Securities Co., Ltd. (hereinafter referred to as the "sponsor"), issued a verification opinion on this matter with clear consent. The relevant situation is hereby announced as follows:

First, the basic situation of the funds raised

With the approval of the China Securities Regulatory Commission (CSRC) on agreeing to the registration of Funeng Technology (Ganzhou) Co., Ltd.'s issuance of shares to specific targets (Zheng Jian Xu Xu [2022] No. 1472), the company issued 140,000,000 RMB ordinary shares (A shares) to specific targets at an issue price of RMB 23.70 per share. levy

The total amount of funds raised was RMB3,318,000,000.00, net of funds raised after deducting the issuance fee

3,256,480,253.05 RMB. The above funds have been fully funded, November 3, 2022 by Dahua Certified Public Accountants

(Special General Partnership) issued the "Capital Verification Report on the Paid-in Share Capital of Funeng Technology (Ganzhou) Co., Ltd. after Issuing 140 Million RMB Ordinary Shares (A Shares)" (Dahua Xianzi [2022] No. 000757).

2. The investment project of the raised funds

Since the net amount of funds raised in this issuance is less than the amount originally planned to be invested in the fund-raising project, the eighth meeting of the second board of directors and the seventh meeting of the second board of supervisors of the company deliberated and passed the "Proposal on Adjusting the Amount of Raised Funds to be Invested in the Investment Project of Raised Funds", and the specific situation after the adjustment of the amount of funds raised by each project is as follows:

Unit: 10,000 yuan

Serial No. Project Name Total Investment Amount Originally Proposed to Raise Funds After Adjustment

1 High-performance power lithium battery project 525,625.90 392,000.00 275,648.03

2 Science and technology reserve funds 60,000.00 60,000.00 50,000.00

Total 585,625.90 452,000.00 325,648.03

In view of the strategic development needs of Funeng Technology, the second session of the board of directors of the company was held on August 7, 2023

The 21st meeting and the 17th meeting of the second session of the Board of Supervisors, as well as on August 24, 2023

At the second extraordinary general meeting of shareholders in 2023, the "Proposal on Terminating Part of the Fund-raising Projects and Using the Remaining Raised Funds for New Projects" was deliberated and approved, and it was agreed that the company would terminate the "high-performance power lithium battery project" by issuing shares to specific objects, and invest the remaining raised funds of the project of 265,262.90 yuan in the new projects "Ganzhou 30GWh New Energy Battery Project (Phase I)" and "30GWh Power Battery Production Base Project (Phase I)". The details of the project after the change are as follows:

Unit: 10,000 yuan

Preface Project Name Implementing Entity Total Investment Proposed Use of Raised Construction Period

No. Funds (Month)

1 Ganzhou's annual output of 30GWh new energy Funeng Technology (Ganzhou) new 227,361.79 132,631.45 18

Source Battery Project (Phase I) Energy Limited

2 Annual output of 30GWh power battery Guangzhou Funeng Technology Co., Ltd. 206,428.11 132,631.45 18

Production base project (phase I) company

Total -- 433,789.90 265,262.90

For details, please refer to the company's website on the Shanghai Stock Exchange on August 8, 2023

(www.sse.com.cn) Announcement of Funeng Technology (Ganzhou) Co., Ltd. on Terminating Part of the Fundraising Projects and Using the Remaining Raised Funds for New Projects (Announcement No.: 2023-052) disclosed by Funeng Technology (Ganzhou) Co., Ltd.

Combined with the actual progress of some of the current fundraising projects, the company will hold the second meeting on February 7, 2025

The 39th meeting of the board of directors and the 28th meeting of the second board of supervisors deliberated and passed the "Proposal on the Extension of Part of the Raised Funds Investment Project", and adjusted the date when the fund-raising projects "Ganzhou 30GWh annual output new energy battery project (phase I)" and Guangzhou "annual output 30GWh power battery production base project (phase I)" reach the scheduled usable state under the premise that the project implementation subject, implementation method, and investment purpose of the raised funds will not change.

For details, please refer to the company's website on the Shanghai Stock Exchange on February 11, 2025

(www.sse.com.cn) The announcement of Funeng Technology (Ganzhou) Co., Ltd. on the postponement of part of the raised funds investment projects (Announcement No.: 2025-008) was disclosed.

3. The return of the funds raised in the previous period for temporary replenishment of liquidity

On May 8, 2024, the Company held the 31st meeting of the second session of the board of directors and the second session of the board of directors respectively

At the 24th meeting of the Board of Directors, the "Proposal on Using Part of the Idle Raised Funds to Temporarily Replenish Liquidity" was deliberated and approved, and it was agreed that the Company would use no more than RMB 70,000 (inclusive) of idle raised funds to temporarily replenish liquidity on the premise of ensuring the normal progress of the investment projects of the raised funds, and the use period shall not exceed 9 months from the date of deliberation and approval of the Board of Directors.

As of February 6, 2025, the company has used idle proceeds to temporarily replenish liquidity

The 70,000 yuan will be returned to the special account for raising funds, as detailed in the company's announcement on February 7, 2025

Announcement of Funeng Technology (Ganzhou) Co., Ltd. on the Return of Idle Raised Funds Temporarily Replenished by Liquidity (Announcement No.: 2025-007) disclosed on the website of the Shanghai Stock Exchange (www.sse.com.cn).

Fourth, the use of part of the idle raised funds to temporarily supplement the liquidity plan

In order to improve the efficiency of the use of raised funds, reduce the company's operating costs, and safeguard the interests of the company and shareholders, according to the current business development needs of the company and its subsidiaries, combined with the actual production, operation and financial situation, and on the premise of ensuring that the investment projects of the raised funds can be implemented normally in accordance with the established schedule, the company intends to use the idle raised funds with a quota of no more than RMB 70,000 (inclusive) to temporarily supplement the working capital, and the use period is from the beginning

No more than 10 months from the date of approval by the Board of Directors of the Company. The company will return it to the special account for raised funds in a timely manner according to the progress and demand of the raised funds investment project.

The use of part of the idle raised funds to temporarily supplement the working capital is limited to the company's business development, daily operation and other production and operation related to the main business, will not be directly or indirectly arranged for new share placement, subscription, or for stocks and their derivatives, convertible corporate bonds, etc., do not carry out securities investment and other risk investment, do not provide financial assistance to objects other than holding subsidiaries, will not conflict with the implementation plan of the raised funds investment project, will not change the use of raised funds in disguise. It will not affect the normal progress of the investment project of the raised funds.

5. The review procedure for using part of the idle raised funds to temporarily supplement the working capital

On February 7, 2025, the Company held the 39th meeting of the second session of the board of directors and the second session of the board of directors respectively

At the 28th meeting of the Board of Directors, the "Proposal on Using Part of the Idle Raised Funds to Temporarily Replenish Liquidity" was deliberated and approved, and it was agreed that the Company would use no more than RMB 70,000 (inclusive) of idle raised funds to temporarily replenish liquidity on the premise of ensuring the normal progress of the investment projects of the raised funds, and the use period shall not exceed 10 months from the date of deliberation and approval of the Board of Directors.

6. Explanation of special opinions

(1) Opinions of the Board of Supervisors

The Board of Supervisors believes that the company's use of idle raised funds to temporarily replenish liquidity will not affect the normal progress of the company's fund-raising plan, and there is no disguised change in the use of raised funds. The company's use of idle raised funds to supplement liquidity is conducive to improving the efficiency of the use of raised funds, reducing the company's financial costs, accelerating business development, in line with the interests of the company and all shareholders, there is no harm to the company and the company's shareholders, especially the interests of small and medium-sized shareholders, the review and voting procedures are in line with the "Regulatory Guidelines for Listed Companies No. 2 - Regulatory Requirements for the Management and Use of Raised Funds by Listed Companies", "Self-Regulatory Guidelines for Listed Companies on the Science and Technology Innovation Board of the Shanghai Stock Exchange No. 1 - Standardized Operation", "Articles of Association" and the company's " Measures for the Management of Raised Funds" and other relevant provisions.

The Board of Supervisors approved the Company to use part of the idle raised funds to temporarily replenish liquidity.

(2) Opinions of the sponsor institution

The board of directors and the board of supervisors of the company have deliberated and approved the use of idle raised funds to temporarily supplement the working capital, and the board of supervisors has issued a concurring opinion. Funeng Technology has fulfilled the necessary approval procedures for the use of idle raised funds to temporarily replenish liquidity, and complies with the provisions of the "Regulatory Guidelines for Listed Companies No. 2 - Regulatory Requirements for the Management and Use of Raised Funds by Listed Companies", "Listing Rules for Stocks on the Science and Technology Innovation Board of the Shanghai Stock Exchange", and "Self-Regulatory Guidelines for Listed Companies on the Science and Technology Innovation Board of the Shanghai Stock Exchange No. 1 - Standardized Operation". The above-mentioned matters do not have a disguised change in the use of the raised funds, do not affect the normal progress of the investment plan of the raised funds, and are in line with the interests of the listed company and all shareholders.

To sum up, the sponsor has no objection to the use of part of the idle raised funds by Funeng Technology to temporarily supplement the working capital.

The announcement is hereby made.

Board of Directors of Funeng Technology (Ganzhou) Co., Ltd

February 11, 2025