Hanchuan Intelligent received a 394 million yuan lithium battery equipment order, and its lithium battery equipment business accelerated its development

Mianyang Hi-Tech Exxon New Energy Technology Co., Ltd. (hereinafter referred to as the "Buyer" or "Mianyang Exxon") intends to purchase lithium battery production supporting equipment from Suzhou Hanchuan Intelligent Technology Co., Ltd. (hereinafter referred to as the "Company" or "Seller") for a purchase amount of RMB 394.34 million (including tax).

Main terms of the contract

(1) Contract Amount: RMB394.34 million (tax inclusive).

(2) Payment method and payment schedule: Payment will be made in stages according to the equipment production and delivery progress.

(3) Place of performance: the place designated by the buyer.

(4) Implementation period: Delivery and acceptance to be completed in 2023.

(5) Contract effectiveness conditions: This contract shall come into effect after both parties seal it.

(6) Liability for breach of contract: The parties have agreed on the liability for breach of contract that each party shall bear for situations such as unauthorized termination of the contract, late delivery of equipment, late payment of purchase price, failure to complete product installation and commissioning and pass acceptance within the agreed time, and product quality issues.

(7) Dispute Resolution Method: When a dispute arises between the two parties, they shall resolve it through negotiation. If negotiation fails, the two parties shall file a lawsuit with the People’s Court where the contract was signed.