Notice of Shareholding Changes for Shanghai Pylon Energy Technology Co., Ltd. Triggering 1% and 5% Thresholds by Major Shareholders

Shanghai Pylon Energy Technology Co., Ltd. has issued a notice regarding changes in the equity stakes of shareholders holding over 5% of the company’s shares, specifically addressing fluctuations that reach 1% and 5% thresholds.

Important Content Summary:

• This equity change is due to Shanghai Pylon Energy Technology Co., Ltd. (hereafter referred to as “the Company”) and its major shareholder, Paili (Ningbo) Venture Capital Partnership (Limited Partnership) (hereafter referred to as “Rongke Chuangtou”), along with its acting party, Beijing Rongtong High-tech Venture Capital Center (Limited Partnership) (hereafter referred to as “Rongtong Gaoke”). They have reduced their shareholding in the Company through centralized bidding transactions to meet their operational funding needs. This reduction is also attributed to the passive dilution of shares due to the Company issuing A-shares to specific investors for the fiscal year 2022, and the occurrence of stock incentives.
• As of the date of this announcement, Rongke Chuangtou holds 24,535,941 shares, representing 10.00% of the Company’s total shares. Together with Rongtong Gaoke, they hold a combined total of 24,535,941 shares, which is also 10.00% of the Company’s total shares. This change touches the 1% and 5% integer thresholds.
• Rongke Chuangtou is still in the process of executing its share reduction plan, which has not yet been completed.
• This equity change will not result in a change in the Company’s controlling shareholder, nor will it significantly impact the Company’s governance structure or ongoing operations.

On April 30, 2025, the Company received notices from Rongke Chuangtou regarding the share reduction and an equity change report. The relevant details are as follows:

1. Basic Information about the Equity Change

(a) Information on Disclosure Obligations

• Paili (Ningbo) Venture Capital Partnership (Limited Partnership)
• Beijing Rongtong High-tech Venture Capital Center (Limited Partnership)

(b) Explanation of the Acting Relationship

Both Rongke Chuangtou and Rongtong Gaoke are controlled by He Zhonglin and have an acting relationship. As of the date of this announcement, Rongtong Gaoke holds 0 shares in the Company.

2. Specifics of the Equity Change

• From June 23, 2022, to July 8, 2022, Rongtong Gaoke reduced its holdings by a total of 1,654,830 shares through centralized bidding transactions. After this reduction, the combined shareholding of Rongke Chuangtou and Rongtong Gaoke was 23,245,489 shares, with Rongke Chuangtou owning 21,873,364 shares and Rongtong Gaoke owning 1,372,125 shares, which represented 15.01% of the total shares at that time.
• From February 8, 2023, to February 15, 2023, the Company issued 20,060,180 A-shares and completed the vesting of 721,620 shares from its 2021 stock incentive plan, increasing total shares to 175,626,333. This led to a dilution of the shareholding percentage from 15.01% to 13.24%.
• From April 27, 2023, to May 18, 2023, Rongtong Gaoke reduced its holdings by 1,372,125 shares, resulting in a shareholding percentage decrease to 12.45%.
• On May 16, 2024, Rongke Chuangtou further reduced its holdings by 2,000,000 shares, bringing the combined shareholding percentage down to 11.32%.
• On June 21, 2024, the Company conducted a rights distribution, granting 4 new shares for every 10 shares held, affecting the total share count to 245,359,249, which adjusted the shareholding percentage to 11.34%.
• From April 24, 2025, to April 29, 2025, Rongke Chuangtou reduced its holdings by 3,286,769 shares, resulting in a current holding of 24,535,941 shares, which is 10.00% of the total shares.

3. Additional Information

• The changes in equity are driven by operational funding needs and the passive dilution of shareholding due to the Company’s actions.
• There will be no changes to the Company’s controlling shareholder, ensuring stability in governance and operations.
• As of the date of this announcement, the Company has complied with all regulations regarding disclosure of these changes.
• Rongke Chuangtou continues to have shares pledged totaling 24,317,435 shares, which is approximately 9.91% of the total shares.

For further details, please refer to the Shanghai Stock Exchange website.