Narada Power plans to set up Narada Hydrogen Energy to focus on the development of hydrogen energy storage and its downstream application projects

In accordance with the company's future development plan and business expansion needs, in order to further strengthen the layout of its hydrogen energy business, Zhejiang Narada Power Co., Ltd. (hereinafter referred to as the "Company" or "Narada Power") intends to jointly establish Zhejiang Narada Hydrogen Energy Technology Co., Ltd. (hereinafter referred to as "Narada Hydrogen Energy") (tentative name, subject to final industrial and commercial registration) with Hangzhou Hydrogen Source Enterprise Consulting Partnership (Limited Partnership) (hereinafter referred to as the "Hydrogen Source Partnership") and Tan Yibo.

The registered capital of Narada Hydrogen Energy is RMB 100 million, of which Narada Power Supply subscribed RMB 51 million, accounting for 51% of the registered capital; Hydrogen Source Partnership subscribed RMB 39 million, accounting for 39% of the registered capital; and Tan Yibo subscribed RMB 10 million, accounting for 10% of the registered capital.

Basic information of the company to be jointly invested

1. Company name: Zhejiang Narada Hydrogen Energy Technology Co., Ltd. (hereinafter referred to as “Narada Hydrogen Energy”) (tentative name, subject to final industrial and commercial registration).

2. Company type: Limited Liability Company

3. Registered capital: RMB 100 million

4. Company address: Room 326, Building 6, Yunchuang Gallium Valley R&D Center, No. 428, Zhiqiang Road, Sandun Town, Xihu District, Hangzhou City, Zhejiang Province

5. Business scope: General projects: gas, liquid separation and purification equipment manufacturing; gas, liquid separation and purification equipment sales; station hydrogenation and hydrogen storage facility sales; battery manufacturing; battery sales; battery parts and components production; battery parts and components sales; mechanical and electrical equipment manufacturing; mechanical and electrical equipment sales; energy storage technology services; emerging energy technology research and development; general equipment manufacturing (excluding special equipment manufacturing); electrical equipment repair;

General equipment repair; engineering and technical research and experimental development; technical services, technical development, technical consultation, technical exchanges, technology transfer, and technology promotion; import and export of goods; import and export of technology (except for projects that require approval according to law, business activities can be carried out independently in accordance with the law with a business license) (subject to the final approval of the industrial and commercial system).