Summary of the 2024 Annual Report for YN Technology Co., Ltd.

Company Code: 688348

Company Name: YN Technology Co., Ltd.

The board of directors and all directors of the company guarantee that this announcement does not contain any false records, misleading statements, or significant omissions, and they are legally responsible for the authenticity, accuracy, and completeness of the content.

1. Key Financial Data

(1) Major Accounting Data and Financial Indicators

Unit: Yuan

Currency: Renminbi

(2) Non-recurring Profit and Loss Items

Applicable

Unit: Yuan

Currency: Renminbi

(3) Changes in Major Accounting Data and Financial Indicators

Applicable

2. Shareholder Information

(1) Total Number of Common Shareholders

Unit: Shares

As of the end of this reporting period, among the top 10 unrestricted shareholders, the company has a repurchase account holding 1,743,788 shares, accounting for 1.12% of the total share capital.

(2) Information on Share Lending

Applicable

3. Other Important Notices

Applicable

4. Quarterly Financial Statements

(1) Audit Opinion Type

Not Applicable

(2) Consolidated Balance Sheet as of March 31, 2025

Unit: Yuan

Currency: Renminbi

Audit Type: Unaudited

(3) Consolidated Income Statement for Q1 2025

Unit: Yuan

Currency: Renminbi

Audit Type: Unaudited

(4) Consolidated Cash Flow Statement for Q1 2025

Unit: Yuan

Currency: Renminbi

Audit Type: Unaudited

5. Important Reminders

• This report summary is derived from the full annual report. For a comprehensive understanding of the company’s operational results, financial condition, and future development plans, investors should carefully read the full annual report.
• Significant Risk Warning: The company has described potential risks in this report. Please refer to Section 3 “Management Discussion and Analysis” for “Risk Factors.”
• The board of directors and management confirm the authenticity, accuracy, and completeness of the annual report.
• All directors attended the board meeting.
• Tianjian Accounting Firm provided a standard unqualified audit report for the company.
• The company was not profitable at the time of listing.
• Profit Distribution Plan: The board proposes a cash dividend of 4 yuan (before tax) for every 10 shares based on the total share capital minus the shares held in the repurchase account.

6. Company Overview

1. Company Profile

1.1 Stock Information

Applicable

1.2 Depository Receipts Information

Not Applicable

1.3 Contact Information

For inquiries, please contact the company.

2. Overview of Main Business

2.1 Main Products and Services

The company focuses on photovoltaic power generation and energy storage, mainly engaging in the R&D and industrialization of component-level power electronics technology and household and commercial energy storage technology. The company offers a full range of distributed photovoltaic + energy storage solutions centered around micro-inverters.

2.2 Main Operating Model

The company’s revenue primarily comes from the direct sales of micro-inverters, energy communication devices, energy storage products, and smart control disconnectors.

2.3 Industry Situation

In 2024, the global renewable energy market is expected to grow significantly, with solar PV continuing to be a driving force. The company remains well-positioned within the industry, leveraging its advanced technology and extensive experience to meet growing market demands.

7. Financial Highlights

3.1 Key Financial Data from the Last Three Years

Unit: Yuan

Currency: Renminbi

3.2 Quarterly Financial Data

Unit: Yuan

Currency: Renminbi

8. Shareholder Information

4.1 Shareholder Structure

Unit: Shares

4.2 Company and Major Shareholder Relations

Applicable

4.3 Company and Actual Controller Relations

Applicable

4.4 Preferred Shareholder Information

Not Applicable

9. Important Matters

The company achieved revenue of 1.771 billion yuan, a year-on-year increase of 24.70%, and a net profit attributable to shareholders of 140 million yuan, a year-on-year decrease of 36.41%. The increase in revenue is attributed to rapid growth in the commercial energy storage business and recovery in household storage demand.

As of the end of the reporting period, the total assets were 4.618 billion yuan, a decrease of 2.77% from the beginning of the year.

This announcement was made by the board of directors of YN Technology Co., Ltd. on April 29, 2025.