Xingdesheng Technology (Suzhou) Co., Ltd. Announcement on the Progress of Share Repurchase

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Stock code: 603344 Stock abbreviation: Xingdesheng Announcement No.: 2026-010

Xingdesheng Technology (Suzhou) Co., Ltd.

Announcement on Progress of Share Repurchase

The board of directors of this company and all directors hereby guarantee that the contents of this announcement contain no false records, misleading statements, or material omissions, and assume legal responsibility for the truthfulness, accuracy, and completeness of the contents.

Key Matters Highlighted:

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I. Basic Information on the Repurchased Shares

Xingdesheng Technology (Suzhou) Co., Ltd. (hereinafter referred to as the “Company”) held the 10th meeting of the second session of the board of directors on August 28, 2025, which reviewed and approved the “Proposal on a Share Repurchase Plan by Means of Centralized Competitive Trading.” The Company agreed to repurchase the Company’s shares from the secondary market by means of centralized competitive trading using its own funds, for an employee share ownership plan or equity incentives. The total repurchase funds shall be not less than RMB 15.00 million (inclusive) and not more than RMB 30.00 million (inclusive). The repurchase price shall not exceed RMB 39 per share. The repurchase period shall be within 12 months from the date the board of directors reviews and approves the share repurchase plan.

For details, please refer to the “Share Repurchase Plan by Means of Centralized Competitive Trading” (Announcement No. 2025-028) disclosed by the Company on August 30, 2025 on the website of the Shanghai Stock Exchange (www.sse.com.cn), and the “Share Repurchase Report” (Announcement No. 2025-032) disclosed on September 6, 2025 on the website of the Shanghai Stock Exchange (www.sse.com.cn).

II. Progress of the Repurchase of Shares

Pursuant to the relevant provisions of the “No. 7 Guidelines for Self-Regulation of Listed Companies on the Shanghai Stock Exchange—Repurchasing Shares,” the progress of the repurchase of shares is hereby announced as follows:

In March 2026, the Company repurchased 55,000 shares through centralized competitive trading, representing 0.0283% of the Company’s total share capital. The highest transaction price was RMB 27.86 per share, and the lowest transaction price was RMB 25.43 per share. The total amount paid was RMB 1.4765 million (excluding transaction commissions, handling fees, and other transaction costs).

As of March 31, 2026, the Company had cumulatively repurchased 255,000 shares through centralized competitive trading, representing 0.1311% of the Company’s total share capital. The highest purchase price was RMB 27.86 per share, and the lowest purchase price was RMB 24.29 per share. The total amount paid was RMB 6.4026 million (excluding transaction commissions and other transaction costs).

The above repurchased shares comply with relevant laws and regulations and the requirements of the Company’s share repurchase plan.

III. Other Matters

The Company will strictly comply with relevant provisions such as the “Rules for Share Repurchases of Listed Companies” and the “No. 7 Guidelines for Self-Regulation of Listed Companies on the Shanghai Stock Exchange—Repurchasing Shares,” make repurchase decisions and implement them as and when appropriate during the repurchase period based on market conditions, and at the same time promptly fulfill its information disclosure obligations in accordance with the progress of the repurchase of shares. Investors are kindly reminded to pay attention to investment risks.

This announcement is hereby issued.

Board of Directors of Xingdesheng Technology (Suzhou) Co., Ltd.

April 1, 2026

Stock code: 603344 Stock abbreviation: Xingdesheng Announcement No.: 2026-009

Xingdesheng Technology (Suzhou) Co., Ltd.

Announcement on Adding the Implementation Entity and Implementation Location for a New Funded Project (for MPT)

The board of directors of this company and all directors hereby guarantee that the contents of this announcement contain no false records, misleading statements, or material omissions, and assume legal responsibility for the truthfulness, accuracy, and completeness of the contents.

Key Matters Highlighted:

● Xingdesheng Technology (Suzhou) Co., Ltd. (hereinafter referred to as the “Company” or “Xingdesheng”)—the original implementation entity for the project in the Company’s initial public offering stock proceeds investment projects, namely the “Annual production of 30 million sets of brushless motors and control systems, and an expansion project for 5 million sets of battery packs,” is Suzhou Xingdesheng Intelligent Electrical Co., Ltd. (hereinafter referred to as “Xingdesheng Intelligent”). Now, Taixing Xingdesheng Motor Co., Ltd., Taixing Xingdesheng Electrical Co., Ltd., Taixing Xingdesheng Power Technology Co., Ltd., and Taixing Xingdesheng Electrical Engineering Co., Ltd. (all wholly-owned subsidiaries of the Company; hereinafter referred to as “Xingdesheng Motor,” “Xingdesheng Electrical,” “Xingdesheng Power,” and “Xingdesheng Electrical Engineering” respectively) are added as implementation entities. Correspondingly, the following are added as implementation locations: Taixing City, Shanhuzhen, Group 14 of Village 8; Taixing City, Huangqiao Industrial Park, Tongzhan Road, No. 8; Taixing City, Yuanzhu Town, Industrial Agglomeration Area, Shenyuan Road, No. 1; and Taixing City, Guxi Town, Yangguang Avenue, No. 5. The addition of implementation entities and implementation locations is a prudent decision made by the Company based on objective circumstances; it does not change the use of the proceeds or the method of implementation, and will not have any adverse impact on the Company’s normal production and operations and business development.

I. Overview of the Funded Projects

(I) Basic Information on the Proceeds

With approval from the China Securities Regulatory Commission for the “Reply on Approving the Registration of Xingdesheng Technology (Suzhou) Co., Ltd.’s Initial Public Offering of Stock” (CSRC License [2023] No. 2485), the Company was approved to register for an initial public offering of 48,632,745 shares of RMB ordinary shares. The total amount of proceeds raised was RMB 932.7760 million. After deducting various issuance expenses of RMB 100.9596 million, the actual net proceeds were RMB 831.8164 million. The receipt of the above funds has been verified by Tianjian Certified Public Accountants (Special General Partnership), and on March 15, 2024, it issued the Tianjian Verifica[2024] No. 76 “Capital Verification Report,” verifying that the proceeds had all been received. All of the above proceeds have been deposited in proceeds special accounts and, together with the sponsor and the commercial banks where the proceeds are deposited, signed a “Tripartite (Quadripartite) Supervision Agreement for the Deposit of Proceeds Special Accounts.”

(II) Basic Information on the Funded Projects

According to the “Prospectus for the Initial Public Offering of Xingdesheng Technology (Suzhou) Co., Ltd. and Listing on the Main Board,” after deducting issuance expenses from the proceeds of the Company’s initial public offering of shares, the Company will invest in the following projects in the order of priority in terms of importance and urgency:

Unit: RMB ten thousand

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Note: The amounts of proceeds intended to be invested shown in the table above have been adjusted based on the “Proposal on Adjusting the Amount of Proceeds Intended to Be Used for the Proceeds Investment Projects,” which was approved at the 14th meeting of the first session of the board of directors and the 9th meeting of the first session of the board of supervisors. This adjustment is made because the actual net proceeds are lower than the originally planned amount of proceeds; the funding gap will be resolved through the Company’s own funds or bank borrowings.

On August 28, 2025, the Company held the 10th meeting of the second session of the board of directors and the 7th meeting of the second session of the board of supervisors, respectively, and reviewed and approved the “Proposal on Adding the Implementation Entity and Implementation Location for a New Funded Project.” The implementation entities Xingdesheng Motor and Xingdesheng Electrical were added; correspondingly, the implementation locations Taixing City, Shanhuzhen, Group 14 of Village 8, and Taixing City, Huangqiao Industrial Park, Tongzhan Road, No. 8 were added. The details before and after the change are as follows:

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II. Actual Utilization of Proceeds

As of February 28, 2026 (unaudited), the Company’s use of proceeds from its initial public offering of shares is as follows:

Unit: RMB ten thousand

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III. Circumstances and Reasons for Adding the Implementation Entity and Implementation Location for the Proceeds Investment Project

With the Company’s business expansion and scaling up, to implement the Company’s future development strategy plans more effectively, better capture industry development trends, further enhance the Company’s profitability level, and also considering location advantages in terms of labor costs, the Company decided to add its wholly-owned subsidiaries, Xingdesheng Motor, Xingdesheng Electrical, Xingdesheng Power, and Xingdesheng Electrical Engineering, as implementation entities for the “Annual production of 30 million sets of brushless motors and control systems, and an expansion project for 5 million sets of battery packs” within the Company’s initial public offering stock proceeds investment projects. This layout will optimize the direction of proceeds investment, improve the efficiency of proceeds utilization, promote the project’s implementation and results to be realized as soon as possible, accelerate the progress and commencement of production and operation of the proceeds investment project(s), and ensure that the expected benefits of the project are successfully achieved.

The details before and after the change are as follows:

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The Company will, according to the construction arrangements of the proceeds investment project and the actual needs for funds, and within the limit of not exceeding the amounts of proceeds intended to be invested in the above proceeds investment project(s), implement the proceeds investment project(s) by having Xingdesheng Intelligent Electrical purchase equipment and lease the equipment to Xingdesheng Motor, Xingdesheng Electrical, Xingdesheng Power, and Xingdesheng Electrical Engineering.

The Company will strictly comply with relevant provisions such as the “Rules for the Supervision of Proceeds of Listed Companies,” the “Shanghai Stock Exchange Stock Listing Rules,” the “No. 1 Guidelines for Self-Regulation of Listed Companies on the Shanghai Stock Exchange—Standardized Operation,” and other relevant regulations, strengthen internal and external supervision over the use of proceeds, ensure that the use of proceeds is lawful and effective, and strictly and timely fulfill information disclosure obligations in accordance with the relevant laws and requirements.

IV. Impact of This Addition on the Company

This addition of the implementation entity and implementation location for the proceeds investment project(s) is a prudent decision made by the Company based on objective circumstances; it does not change the use of proceeds or the implementation method. There is no situation of indirectly changing the direction of proceeds investment or harming the interests of the Company and all its shareholders. It will not have any adverse impact on the Company’s normal production and operations and business development.

V. Examination and Approval Procedures

On March 30, 2026, the Company convened the 13th meeting of the second session of the board of directors, which reviewed and approved the “Proposal on Adding the Implementation Entity and Implementation Location for a New Funded Project.” This proposal does not require submission to the shareholders’ meeting for review.

VI. Explanation of the Sponsor’s Special Opinion

After verification, the sponsor believes that: the matter of adding implementation entities and implementation locations for this proceeds investment project(s) has been deliberated and approved at the 13th meeting of the second session of the board of directors, and the necessary procedures have been fulfilled. The addition fully takes into account the Company’s actual situation, is based on the real needs of the Company’s business development, and is conducive to the smooth progress of the proceeds investment project(s). It aligns with the Company’s overall development strategy and does not affect the normal implementation of the proceeds investment plan. It complies with requirements such as the “Measures for the Administration of Sponsorship Business for Securities Issuance and Listing,” the “Rules for the Supervision of Proceeds of Listed Companies,” the “Shanghai Stock Exchange Stock Listing Rules,” the “No. 11 Guidelines for Self-Regulation of Listed Companies on the Shanghai Stock Exchange—Continuous Supervision,” and the “No. 1 Guidelines for Self-Regulation of Listed Companies on the Shanghai Stock Exchange—Standardized Operation,” as well as the requirements of the Company’s proceeds management system. The sponsor has no objection to the Company’s addition of implementation entities and implementation locations for this proceeds investment project.

This announcement is hereby issued.

Board of Directors of Xingdesheng Technology (Suzhou) Co., Ltd.

April 1, 2026

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