Summary of the 2024 Annual Report for Daye Intelligent Electric Co., Ltd. (Stock Code: 300670)

1. Important Notes

This annual report summary is derived from the full annual report. To gain a comprehensive understanding of the company’s operational results, financial condition, and future development plans, investors should carefully read the complete annual report published in designated media by the China Securities Regulatory Commission.
All board members attended the meeting where this report was reviewed. Tianheng Accounting Firm (Special General Partnership) provided an audit opinion on this year’s financial report, which is a standard unqualified opinion.
Changes in the accounting firm this reporting period: the company’s accounting firm has changed to Tianheng Accounting Firm (Special General Partnership).
Non-standard audit opinion indication: Not applicable
The company has not achieved profitability since its listing: Applicable
The board’s profit distribution plan or capital reserve transfer plan during the reporting period: Not applicable
The company plans not to distribute cash dividends, issue bonus shares, or transfer capital reserves to increase share capital.
Preferred stock profit distribution plan approved by the board: Not applicable

<h2>2. Company Overview</h2>
<h3>1. Company Profile</h3>
<b>Stock Name:</b> Daye Intelligent <br>
<b>Stock Code:</b> 300670 <br>
<b>Stock Exchange:</b> Shenzhen Stock Exchange
<b>Contact Information:</b> <br>
<b>Board Secretary:</b> Ren Changgen <br>
<b>Securities Affairs Representative:</b> Lin Zhongjie <br>
<b>Office Address:</b> No. 223, Jiangjun Avenue, Jiangning District, Nanjing <br>
<b>Fax:</b> 025-871633260 <br>
<b>Phone:</b> 025-871633060 <br>
<b>Email:</b> <a href='mailto:tzzgx@dayedq.com'>tzzgx@dayedq.com</a>

<h3>2. Overview of Main Business and Products</h3>
<h4>(a) Main Business</h4>
The core business of the company includes the research, development, production, and sales of intelligent power distribution equipment. After over a decade of development, the company has established a complete industrial chain integrating design, R&D, manufacturing, construction, and service, enabling it to provide targeted solutions from product equipment to platform applications.
In the context of the "dual carbon" goals and the global energy structure transformation, the company actively develops its new energy and energy storage businesses while maintaining intelligent power distribution equipment as its manufacturing core. The specifics of each business are as follows:
<ul>
    <li><b>Intelligent Power Distribution:</b> This includes integrated overhead circuit breakers and environmentally-friendly gas-insulated switchgear. The company closely follows future trends in the power distribution network, continuously exploring technological innovations to optimize product offerings and enhance industry competitiveness.</li>
    <li><b>New Energy Business:</b> This encompasses photovoltaic power generation, photovoltaic construction, and offshore construction. The photovoltaic power generation business operates self-owned solar power stations based on the "self-use, surplus power to the grid" model, selling generated electricity primarily to rooftop resource owners.</li>
    <li><b>Energy Storage Business:</b> The company's energy storage products include storage batteries, hybrid inverters, and solar-storage integration machines, primarily targeting overseas markets. The products have passed various certifications by authoritative overseas institutions.</li>
</ul>

<h4>(b) Main Products or Services</h4>
<table>
    <tr>
        <th>Product Name</th>
        <th>Product Description</th>
    </tr>
    <tr>
        <td>Intelligent Power Distribution Equipment</td>
        <td>Includes integrated overhead circuit breakers and gas-insulated switchgear, designed for high reliability in various environments.</td>
    </tr>
    <tr>
        <td>Photovoltaic Power Generation</td>
        <td>Involves the investment, construction, and operation of solar power stations, providing green electricity and efficient energy management solutions.</td>
    </tr>
    <tr>
        <td>Energy Storage Solutions</td>
        <td>Combines storage batteries and hybrid inverters to offer environmentally friendly and efficient power solutions for users.</td>
    </tr>
</table>

<h3>3. Key Financial Data and Indicators</h3>
<h4>(1) Major Financial Data Over the Past Three Years</h4>
<table>
    <tr>
        <th>Item</th>
        <th>2024</th>
        <th>2023</th>
        <th>Change (%)</th>
        <th>2022</th>
    </tr>
    <tr>
        <td>Total Assets</td>
        <td>2,037,140,089.57</td>
        <td>2,150,302,114.74</td>
        <td>-5.26</td>
        <td>2,109,098,280.90</td>
    </tr>
    <tr>
        <td>Net Assets Attributable to Shareholders</td>
        <td>641,049,436.36</td>
        <td>641,628,122.71</td>
        <td>-0.09</td>
        <td>786,197,474.99</td>
    </tr>
    <tr>
        <td>Operating Revenue</td>
        <td>337,398,591.38</td>
        <td>442,813,319.29</td>
        <td>-23.81</td>
        <td>267,302,846.89</td>
    </tr>
    <tr>
        <td>Net Profit Attributable to Shareholders</td>
        <td>7,935,695.95</td>
        <td>-144,569,352.28</td>
        <td>105.49</td>
        <td>-170,151,948.33</td>
    </tr>
</table>

<h4>(2) Quarterly Financial Data</h4>
<table>
    <tr>
        <th>Quarter</th>
        <th>Operating Revenue</th>
        <th>Net Profit Attributable to Shareholders</th>
        <th>Net Cash Flow from Operating Activities</th>
    </tr>
    <tr>
        <td>Q1</td>
        <td>109,200,635.64</td>
        <td>5,786,440.06</td>
        <td>-35,701,324.00</td>
    </tr>
    <tr>
        <td>Q2</td>
        <td>125,956,261.15</td>
        <td>4,025,717.99</td>
        <td>31,358,423.39</td>
    </tr>
    <tr>
        <td>Q3</td>
        <td>46,057,916.97</td>
        <td>-8,632,235.30</td>
        <td>16,811,147.22</td>
    </tr>
    <tr>
        <td>Q4</td>
        <td>56,183,777.62</td>
        <td>6,755,773.20</td>
        <td>8,226,843.06</td>
    </tr>
</table>

<h2>4. Share Capital and Shareholder Information</h2>
<h3>(1) Shareholder Information</h3>
As of the end of the reporting period, the total number of ordinary shareholders is <b>17,067</b>. The top 10 shareholders hold the following amounts:
<table>
    <tr>
        <th>Shareholder Name</th>
        <th>Type</th>
        <th>Shareholding Percentage</th>
        <th>Number of Shares</th>
    </tr>
    <tr>
        <td>Chen Jie</td>
        <td>Individual</td>
        <td>36.39%</td>
        <td>115,317,000</td>
    </tr>
    <tr>
        <td>Nanjing Mingzhao Investment Management Co., Ltd.</td>
        <td>Corporate</td>
        <td>7.28%</td>
        <td>23,079,995</td>
    </tr>
    <tr>
        <td>Lin Kongzhou</td>
        <td>Individual</td>
        <td>1.55%</td>
        <td>4,898,100</td>
    </tr>
    <tr>
        <td>Wang Guohua</td>
        <td>Individual</td>
        <td>1.54%</td>
        <td>4,893,568</td>
    </tr>
    <tr>
        <td>Wu Guodong</td>
        <td>Individual</td>
        <td>1.06%</td>
        <td>3,352,121</td>
    </tr>
</table>

<h3>(2) Other Shareholder Information</h3>
As of the end of the reporting period, there are no preferred shareholders.

<h2>5. Bond Information</h2>
As of the date of approval of this annual report, there are no outstanding bonds.

<h2>6. Significant Events</h2>
<b>Not applicable</b>