Tianbao Group's first overseas factory officially opened in Hungary, marking a new milestone in overseas business

Tianbao Group Holdings Limited (hereinafter referred to as "Tianbao" or "the Group"; Hong Kong Stock Code: 1979), an industry-leading one-stop intelligent power solution provider, officially opened its first overseas factory in Hungary on October 5, marking a new milestone in the Group's overseas business.

The opening ceremony was attended by many parliamentary officials and senior government officials from Miskolc, including Hungarian Parliament Member Katalin Csöbör, Deputy Mayor of Miskolc Mr. Péter Pfliegler, BAZ County Council President Mr. Török Dezső and representatives from the Hungarian Investment Promotion Agency. The Group's strategic partner BOSCH and other business partners from all over the world, local community groups, associations and local media also attended the opening ceremony. Mr. Hong Guangyi, Chairman, Executive Director and CEO of Tianbao, led a group of management to personally welcome the guests and celebrate the official opening of the new plant.

From left to right: Executive Director and Vice President Mr. Hong Guangdai, Executive Director Mr. Hong Ruide, Chairman, Executive Director and Chief Executive Officer Mr. Hong Guangyi, Independent Non-executive Director Mr. Li Junxiong, Independent Non-executive Director Mr. Zhu Yipeng, Chief Financial Officer, Financial Controller and Company Secretary Mr. Xie Zhongcheng

Expanding production bases overseas is one of Tianbao's business development strategies. In 2013, President Xi Jinping proposed the vision of the "Belt and Road" initiative, encouraging traditional industries to enter the "Belt and Road" market, including Hungary. In response to national policies, Tianbao took the initiative to set up a new factory in Hungary. The new factory in Miskolc is an ideal location, as many of the Group's major customers have started new businesses in Eastern Europe, and the Group has made strategic arrangements to expand the European market. In addition, the favorable policies of the Hungarian government (including the issuance of a total of more than 1 billion forint cash subsidies) provide strong incentives for overseas investment. The factory has also obtained TS16949, IS014001 and ISO9001 certifications to meet the Group's production goals. As the factory's capacity matures, the Group is able to make better logistics arrangements and expand the supply chain of European customers. Not only will it enable Tianbao to become a major supplier to European customers, but the geographical advantages of the new plant can also greatly shorten the production and delivery cycle, thereby responding quickly and flexibly to customer needs, being closer to customers, and providing customers with more considerate services. This is a win-win situation for the group and its international customers, laying a solid foundation for the group's rapid business expansion in the future.

Tianbao's first overseas factory officially opened in Hungary on October 5

Mr. Hong Guangyi, Chairman, Executive Director and Chief Executive Officer of Tianbao, said: "The official opening of Tianbao's first overseas factory is of special significance to the development of the Group. We would like to thank the Chinese and Hungarian governments for their full support for our overseas factory establishment, which has strengthened our confidence in expanding our overseas business. We believe that with the commissioning of the Hungarian factory, Tianbao's production efficiency will be effectively improved and we will be committed to cooperating with the development of our partners. In the future, we will continue to develop the market in Hungary and neighboring places, and strive to expand our customer base and geographical coverage to lay a solid foundation for future profitability."