威胜信息(688100)_公司公告_威胜信息：Corporate Value and Return Enhancement Action Plan2025_公司公告

威胜信息：Corporate Value and Return Enhancement Action Plan2025（下载公告）
公告日期:2025-03-11
Stock Code:688100 Willfar Information Technology Co., Ltd. Web：https://www.willfar.com/Tel：0731-88619798Add：No.468 Wasion Science & Technology Park, West Tongzipo Road,High-Tech Development Zone, Changsha, Hunan, P.R.China Willfar Information Technology Co., Ltd Corporate Value and Return EnhancementAction Plan 2025 Focusing on Core Business to DriveValue and Eciency, Building a Path toHigh-Quality Development Willfar deeply understands that strengthening and expanding itscore business while enhancing operational quality is the foundationfor achieving sustained high-quality development and deliveringgreater returns to investors. In 2024, under the operating theme of "Steady Progress withInnovative Development". The Company continued to implement"Value and Return Enhancement" initiatives, leveraging technologicalinnovation as a key driver to cultivate new quality productivity. Byfocusing on improving operational quality and asset efficiency,deepening domestic market penetration, advancing the "threeinternationalization strategies" (organizational, ideological, andstrategic), and accelerating its global expansion, the Companysignificantly expanded its market share, achieving new highs in bothrevenue and profitability. In 2025, Willfar will adhere to a development path that balances"organic growth with strategic expansion, and efficiencyimprovements with innovation-driven progress". With “Value andReturn Enhancement” as the guiding principle, the Company willadvance its internationalization efforts, ensuring the robustimplementation of this action plan to elevate operational quality tonew heights and build a more resilient and dynamic path to high-quality development. ???? Highlights and Performance 0302 2.75 Billion Yuan Operating Revenue+23.35%YoYGrowth 22.98 % +20.07% Net Prot Attributableto Parent Company Million Yuan YoYGrowth Net Prot MarginAttributable to ParentCompany 20.39 % 1.47% 26.66 % Return on Equity (ROE)YoYGrowth Total Shareholder ReturnSince listing, cumulative dividends and sharerepurchases have totaled Million yuan %32313.02 8.31 Cash DividendPayout Ratio CumulativeRepurchase Amount Million yuan Cumulative Number ofRepurchased Shares MillionRepurchase and Cancellation MillionShares(representing 1.66% of the totalshare capital)，Equivalent to approximately Million yuanin cash dividends Inclusion in the SSE STAR MarketESG IndexInclusion in the SSE 380 IndexInclusion in the STAR AI Index Inclusion in the STAR 100 IndexWind ESG Rating "A" LevelNational-Level Specialized, Rened,Distinctive, and Innovative 'Little Giant'EnterprisesNational Intellectual PropeyAdvantage EnterpriseChina Patent Excellence Award e Highest AAA-level Ceication of theIntegration of Informatization andIndustrialization Management System in2024 by the Minist of Indust andInformation TechnologyTop 100 Internet Companies in China byComprehensive Strength in 2024Top 50 Chinese Listed Companies in NewQuality Productive ForcesConsecutive Two-Year Highest A-Level Ratingfor Information Disclosure by the SSEBest Practice of the Board of Directors by the CAPCOBest Practice of Earnings Presentation by the CAPCO WillfarInformationTechnologyCo.,Ltd.Corporate Value and Return Enhancement Action Plan 2025loT Connects the World Chip Enables the Futrue Strengthening FoundationsLaying the Groundwork for High-Quality Development Operating Revenue 2.75 23.35% 2024 20.07% 2024 20.39% 2024 22.98% %%% 84.6284.6284.62 Accounting for Accounting for Accounting for %%% 15.3815.3815.38 2.314 16.4% OperatingRevenue 85.4% Overseas Income 770million yuan becoming the top revenue-generatingproduct. 18% 28.39% In 2024, Willfar Achieved Significant Value and Return Enhancement, Creating New Performance Highs. 2024 Billion Yuan YoY GrowthYoY Growth Net Prot Attributableto Parent CompanyMillion Yuan Net Prot MarginAttributable toParent Company Return onEquity (ROE) Domestic Business Grew Steadily while Overseas Business Achieved Leapfrog Growth. Domestic Income Million Yuan OperatingRevenue Billion YuanYoY GrowthYoY Growth Accounting for Accounting for Accounting for In 2024, we secured over e chip module business demonstratedrobust growth, achieving 776 million yuan in revenue, year on year growth ofaccounting for In the context of global manufacturing restructuring,surging AI computing demands, and the transformationof new energy systems. 49% in bids for electricity informationcollection equipment during centralizedprocurement tenders by the State Gridand Southern Grid, ranking rst in theindust by bid share. The Company successfully launched nearly 50 new products and solutions which accounted for of core business income. 1.338 billion yuan generating in new product revenue, In 2024，Operational Quality and Cash FlowOptimization YoY Improvement of 13.52% Net Cash Flow from Operating Activities474 million yuan The order book remained robust,as of December 31, 2024 4.017Billion Yuan 15.35% Net Cash Flow from Operating ActivitiesYoY Growth WillfarInformationTechnologyCo.,Ltd.Corporate Value and Return Enhancement Action Plan 2025loT Connects the World Chip Enables the Futrue Strengthening FoundationsLaying the Groundwork for High-Quality Development Operating Revenue 2.75 23.35% 2024 20.07% 2024 20.39% 2024 22.98% %%% 84.6284.6284.62 Accounting for Accounting for Accounting for %%% 15.3815.3815.38 2.314 16.4% OperatingRevenue 85.4% Overseas Income 770million yuan becoming the top revenue-generatingproduct. 18% 28.39% In 2024, Willfar Achieved Significant Value and Return Enhancement, Creating New Performance Highs. 2024 Billion Yuan YoY GrowthYoY Growth Net Prot Attributableto Parent CompanyMillion Yuan Net Prot MarginAttributable toParent Company Return onEquity (ROE) Domestic Business Grew Steadily while Overseas Business Achieved Leapfrog Growth. Domestic IncomeMillion Yuan OperatingRevenue Billion YuanYoY GrowthYoY Growth Accounting for Accounting for Accounting for In 2024, we secured over e chip module business demonstratedrobust growth, achieving 776 million yuan in revenue, year on year growth ofaccounting for In the context of global manufacturing restructuring,surging AI computing demands, and the transformationof new energy systems. 49% in bids for electricity informationcollection equipment during centralizedprocurement tenders by the State Gridand Southern Grid, ranking rst in the indust by bid share. The Company successfully launched nearly 50 new products and solutions which accounted for of core business income. 1.338 billion yuan generating in new product revenue, In 2024，Operational Quality and Cash FlowOptimization YoY Improvement of 13.52% Net Cash Flow from Operating Activities474 million yuan The order book remained robust,as of December 31, 2024 4.017Billion Yuan 15.35% Net Cash Flow from Operating ActivitiesYoY Growth WillfarInformationTechnologyCo.,Ltd.Corporate Value and Return Enhancement Action Plan 2025loT Connects the World Chip Enables the Futrue In 2024, Willfar made significant strides in its global expansion through organizationalinternationalization, ideological internationalization, and strategic internationalization,achieving breakthroughs in its overseas business. OverseasIncome YoYGrowth421Million Yuan 85.4% emergingasakeydriverofthecompany'sperformancegrowth. Theproportionofoverseasrevenueincreasedfromin2023to By the end of 2024, the Company had established over 10 overseas subsidiaries and sales offices, with factories under construction in Saudi Arabia and Indonesia, set tocommence operations in 2025. Leveraging the global energy transition,Willfar secured multiple product certificationsacross Asia, Europe, and North America, layinga solid foundation for its internationalizationstrategy. These achievements enableWillfar to deliver reliable, high-quality products and services toglobal customers. 2025 marks the culmination year of Willfar Information’s “5-5” strategic plan. Amid profound changes in the global energylandscape, policy guidance, and market demands, the Company isseizing these strategic opportunities to optimize its industrylayout, accelerate technological innovation, and expand marketpresence. Willfar will closely align with these directions to drivesynergistic growth and unlock new industry momentum. 10.24% 15.38% 0706 Expanding Globally, Building New CompetitiveAdvantages in International Markets In 2024, the Company obtained keyinternational certifications, including the U.S.FCC certification, CE-RED (EU Radio EquipmentDirective) certification, MID/OIML metrologycertification, and STS prepaid productcertification. In software development, Willfar achievedthe highest level of the Capability MaturityModel Integration (CMMI-ML5) certification,positioning it among the few companies globallycapable of delivering high-quality softwareintegration services to international markets. Unleashing SynergiesActivating New Indust Dynamics In 2025, the Company will proactively optimize resources and reducecosts. In business expansion, organizational restructuring, and budgetplanning, Willfar will sharpen its focus on core operations throughcomprehensive budget management. This will integrate revenue-enhancinginitiatives—such as international expansion, new product development,technology application, and market breakthroughs—with cost-savingmeasures, including cost reduction, managing bad receivables andinventory, and improving per-capita productivity and operational efficiency.These efforts will ensure efficient resource utilization and robust execution.Willfar will reinforce accountability, prioritize key performance indicators,and advance internationalization while focusing on major projects.In 2025, the Company will continue to enhance operational quality and innovation capabilities,strengthen talent development, and aggressively recruit top talent. Key initiatives include: Accelerating international marketexpansion through prudentoverseas site development,enhanced management of keyinternational projects, andoptimized operations of overseasfactories. The Company will alsoexpand innovative business lineswhile elevating theinternationalization andprofessionalism of managementfunctions, including humanresources, finance, legal, and riskcontrol, to support long-termstrategic depth. Adopting a customer-centric,market-driven approach todrive product and technologyinnovation, continuouslylaunching new products andsolutions in response tomarket needs. Willfar willpioneer new industries,business models, andmarkets, cultivating newgrowth drivers andestablishing competitiveadvantages. Concentrating on corebusinesses, targetingopportunities to complement,strengthen, and extendindustry chains. The Companywill prioritize high-synergy,high-barrier acquisitions andstrategic investments, aimingto complete at least onestrategic M&A project in 2025to achieve a balance oforganic growth and strategicexpansion, as well asefficiency improvements andinnovation-driven progress. WillfarInformationTechnologyCo.,Ltd.Corporate Value and Return Enhancement Action Plan 2025loT Connects the World Chip Enables the Futrue In 2024, Willfar made significant strides in its global expansion through organizationalinternationalization, ideological internationalization, and strategic internationalization,achieving breakthroughs in its overseas business.OverseasIncomeYoYGrowth421Million Yuan 85.4% emergingasakeydriverofthecompany'sperformancegrowth. Theproportionofoverseasrevenueincreasedfromin2023to By the end of 2024, the Company had established over 10 overseas subsidiaries and sales offices, with factories under construction in Saudi Arabia and Indonesia, set tocommence operations in 2025. Leveraging the global energy transition,Willfar secured multiple product certificationsacross Asia, Europe, and North America, layinga solid foundation for its internationalizationstrategy. These achievements enableWillfar to deliver reliable, high-quality products and services toglobal customers. 2025 marks the culmination year of Willfar Information’s “5-5” strategic plan. Amid profound changes in the global energylandscape, policy guidance, and market demands, the Company isseizing these strategic opportunities to optimize its industrylayout, accelerate technological innovation, and expand marketpresence. Willfar will closely align with these directions to drivesynergistic growth and unlock new industry momentum. 10.24% 15.38% 0706 Expanding Globally, Building New CompetitiveAdvantages in International Markets In 2024, the Company obtained keyinternational certifications, including the U.S.FCC certification, CE-RED (EU Radio EquipmentDirective) certification, MID/OIML metrologycertification, and STS prepaid productcertification. In software development, Willfar achievedthe highest level of the Capability MaturityModel Integration (CMMI-ML5) certification,positioning it among the few companies globallycapable of delivering high-quality softwareintegration services to international markets. Unleashing SynergiesActivating New Indust Dynamics In 2025, the Company will proactively optimize resources and reducecosts. In business expansion, organizational restructuring, and budgetplanning, Willfar will sharpen its focus on core operations throughcomprehensive budget management. This will integrate revenue-enhancinginitiatives—such as international expansion, new product development,technology application, and market breakthroughs—with cost-savingmeasures, including cost reduction, managing bad receivables andinventory, and improving per-capita productivity and operational efficiency.These efforts will ensure efficient resource utilization and robust execution.Willfar will reinforce accountability, prioritize key performance indicators,and advance internationalization while focusing on major projects.In 2025, the Company will continue to enhance operational quality and innovation capabilities,strengthen talent development, and aggressively recruit top talent. Key initiatives include: Accelerating international marketexpansion through prudentoverseas site development,enhanced management of keyinternational projects, andoptimized operations of overseasfactories. The Company will alsoexpand innovative business lineswhile elevating theinternationalization andprofessionalism of managementfunctions, including humanresources, finance, legal, and riskcontrol, to support long-termstrategic depth. Adopting a customer-centric,market-driven approach todrive product and technologyinnovation, continuouslylaunching new products andsolutions in response tomarket needs. Willfar willpioneer new industries,business models, andmarkets, cultivating newgrowth drivers andestablishing competitiveadvantages. Concentrating on corebusinesses, targetingopportunities to complement,strengthen, and extendindustry chains. The Companywill prioritize high-synergy,high-barrier acquisitions andstrategic investments, aimingto complete at least onestrategic M&A project in 2025to achieve a balance oforganic growth and strategicexpansion, as well asefficiency improvements andinnovation-driven progress. WillfarInformationTechnologyCo.,Ltd.Corporate Value and Return Enhancement Action Plan 2025loT Connects the World Chip Enables the Futrue Willfar Information viewscash dividends as a criticalway to reward investors.Dividend Distribution per ShareYoY GrowthTotal Cash Dividend Distribution 0.43 Yuan 30% 211Million Yuan In September 2024, the Company completed a pivotal initiative by canceling 8.31 million shares(1.66% of total share capital) repurchased for approximately 200 million yuan. This action optimized theCompany’s share structure, contributing to a 1.47 percentage point year-on-year increase in ROE to 20.39%. It shows the dual effectiveness of the company in value creation and shareholder return. 2019 Dividend ?.??yuan ?.??yuan ?.??yuan?.??yuan ?.??yuan 2020202120222023 Cash Dividend per 10 Shares: 2024 ?.??yuan In 2025, Willfar will establish a scientific andstable dividend policy, targeting a baselinedividend payout ratio of 40% over the next five years. This ensures investors can tangibly benefitfrom the Company’s growth, embodying our long-term vision and commitment to Shared ValueCreation. 0908 Enhancing Shareholder ReturnsEmbracing Shared Value Creation Since its listing on the STAR Market in 2020, Willfar Informationhas consistently upheld an Investor-Centric Approach, reinforcingshareholder returns through a combination of high cash dividends andshare repurchases with cancellations. In 2024, the Company’scoordinated efforts in cash dividends (totaling 700 million yuan),share cancellations (equivalent to 200 million yuan), and market valuemanagement resulted in a total shareholder return (TSR) of 26.66%and a return on equity (ROE) of 20.39%. The combined value of cashdividends and share cancellations reached 1.48 times the netproceeds from the IPO (610 million yuan), achieving a win-winscenario of performance growth and capital appreciation. Theseactions reflect Willfar’s deep commitment to investor responsibilityand its establishment of a comprehensive, multi-layered investorreturns framework. In 2025, the Company will remain dedicated to value creation, further refining itsstable dividend policy and implementing a robust market value management policy tofulfill its commitments to investors and embrace Shared Value Creation.Consistent Dividends Demonstrating CommitmentEnsuring Mutual Benets On May 9, 2024, Willfar completed the dividenddistribution and interest payment for the year 2023. Since its listing, the Company has cumulativelydistributed in cash 704 million yuandividends. In September 2024, Willfar canceledshares worth approximately , 200million yuanbringing the total value of cash dividends andshare cancellations to 900 million yuan—1.48 times the net IPO proceeds. This demonstrates the Company’s strong commitment to andaccountability for shareholder interests. To visually showcase the Company’s dividendperformance, a chart is included, detailing annualdividend amounts, per-share dividends, and year-on-year growth trends (see attached chart). This data highlights Willfar’s steady increase individend scale and growth rate, further bolsteringinvestor confidence. DividendDividendDividendDividendDivident(planned) Share Repurchases and Cancellations Boosting Returns,Incentives Driving Growth In January 2025, the Company announced a new share repurchase plan, targeting 100 million yuanto 150 million yuan in shares. This follows the successful repurchase of 12.31 million shares (worth 300million yuan) between 2022 and 2023. The repurchased shares will support equity incentives or employeestock ownership plans, fostering long-term motivation among core teams and injecting vitality into theCompany’s sustainable development. In 2025, Willfar will diligently execute the repurchase plan diligently, closely monitoring marketdynamics and stock price trends, adjusting the repurchase pace as needed, and disclosing progress in atimely and accurate manner in accordance with regulations. These efforts will stabilize investorexpectations, strengthen market confidence, and support the Company’s steady advancement in thecapital markets. WillfarInformationTechnologyCo.,Ltd.Corporate Value and Return Enhancement Action Plan 2025loT Connects the World Chip Enables the Futrue Four in one management system Value Creation(40% baseline dividend ratio) This approach will enable real-time tracking of market trends and investor feedback, translatingcorporate achievements into tangible investor value and laying a solid foundation for high-qualitydevelopment in the capital markets. As of December 31, 2024, the closing stockprice was 36.20 yuan, representing a 163%increase from the listing price of 13.78 yuan, witha compound annual growth rate of 21.31% sincelisting. In 2024, the Company’s total shareholderreturn reached 26.66%, delivering substantialvalue to investors. In 2025, Willfar will treat value management as a systemic strategic initiative,establishing afour-pronged framework: 1110 Value Management Stabilizing Share PricesSentiment Monitoring Safeguarding Progress Since its listing, WillfarInformation has achieved steadystock price growth, driven by itsexpanding business footprintand consistent performanceimprovements.To better safeguard shareholder interests, Willfarformally launched its <Market Value ManagementPolicy> in early 2025, with the Chairman leading effortsto oversee market value initiatives. The Company hasintegrated sentiment monitoring into its dailymanagement practices, employing a range ofstrategies to maintain stable market value aligned withits intrinsic value, ensuring investor benefits areprotected. Value Preseation(dynamic repurchasemechanism) Value Communication(multi-dimensionalinvestor relationssystem) Sentiment Management(routine monitoring+ responsivemechanisms) Innovation as the DriverIgniting the Engine for High-QualityDevelopmentThe "New Nine Articles" emphasize the importance of adhering tohigh-quality development as the core theme, promoting innovation,and fostering Next-Gen Productivity. Today, the global manufacturinglandscape is undergoing profound transformation, with surging AIcomputing demands driving unprecedented electricity needs, whilethe widespread adoption of solar and wind energy is reshaping theglobal energy structure. These shifts present unprecedentedchallenges for stable, reliable, and high-quality power supply,ushering the global power industry into a new era of transformation.To address this, Willfar has developed a comprehensive productecosystem integrating "chips + IoT + artificial intelligence.” WillfarInformationTechnologyCo.,Ltd.Corporate Value and Return Enhancement Action Plan 2025loT Connects the World Chip Enables the Futrue The Company continues to prioritize technological innovation as thecornerstone of its growth, significantly increasing R&D investment andconsistently launching new products and solutions. This has yieldedimpressive market expansion results, solidifying Willfar’s leadership in China’spower sector while actively exploring emerging areas such as IntegratedEnergy System (Generation, Grid, Load, Storage), Digital Twin-enabled smartcity infrastructure, green buildings, and energy services, unlocking newgrowth avenues. R&DSpending The energy internet industry, in which Willfaroperates, is a critical pathway for energytransformation and revolution, as well as a vitalcomponent of the digital economy. As one ofChina’s earliest entrants in this field, Willfar holds aclear strategic first-mover advantage, adhering toits vision of “IoT-Enabling the World, Chip-Linkingthe Future”. The Company has deepened itscomprehensive energy IoT solutions, extendingapplications to cities, industrial parks, buildings,and enterprises, thereby digitalizing anddecarbonizing public urban infrastructure such aselectricity, water, gas, heating, and charging.These efforts advance the construction andintelligent management of new energy systems.Moving forward, Willfar will empower moreenterprises and cities to achieve green, low-carbon development, contributing to the buildingof modern energy ecosystems. Overseas Breakthroughs as a Robust GrowthDriver, Becoming a Key Driver of PerformanceGrowth. In 2024, Willfar accelerated its globalexpansion, achieving significant progress inoverseas markets and driving a leap ininternational revenue. Through localizedoperations and tailored solutions, the Companyhas supported the digital transformation of energyinfrastructure along the Belt and Road Initiative.Multiple self-developed Wi-SUN chips haveearned international certifications, with Willfarnow serving as a core member of the Wi-SUNAlliance. Additionally, the Company’s intelligentultrasonic water meters have secured the highest-level international certifications in the EU, UK, andother regions, further solidifying its global marketposition. During the reporting period, Willfar’s Wi-SUNcommunication module technology for power IoTpassed a scientific and technological evaluation,with multiple self-developed products receivingcertifications from the Wi-SUN Alliance, Brazil’sAnatel, and the U.S. FCC. Together with G3-PLC/BPLC technologies, these solutions providepower AMI communication options covering over70% of global countries, securing overseas ordersexceeding tens of millions of yuan and achievinginternational leading-edge technical standards. The Company’s high-speed broadband carriercommunication technology and chips for power IoTalso underwent evaluation by an academician-ledexpert panel, with some aspects reachinginternational leadership and the overall leveldeemed internationally advanced. The new-generation dual-mode communication chip, as afrontrunner, passed testing and certification byboth State Grid and Southern Grid, furtherboosting its market share. During the reporting period YOYGrowth 241Million Yuan 5.95% Willfaremployed441 51.34% 2020202120222023 10088 In terms of intellectual property 2024 1312 With Technological Innovation as its FoundationContinuously Increases R&D Investment As of the end of the reporting period R&D professionals accountingforincludingindividualswithmaster’sdegreesorhigher. of its workforce patentsduring the period including inventionpatentsthe Company added alongside softwarecopyrights 2and integratedcircuit layoutdesign rights. Willfar held a total of( of which are invention patents) software copyrights, andintegrated circuit layout design rights As of the reporting period﹂s end valid patents The Company has also contributed tostandards, including internationalstandard, national standards,industry standards, local standards,and group standards. million yuan million yuan million yuan million yuan million yuan Deepening the Energy InternetSuppoing Global New Energy Systems and Sma Management Self-Developed Chips: PenetratingDomestic Markets, Integrating Internationally WillfarInformationTechnologyCo.,Ltd.Corporate Value and Return Enhancement Action Plan 2025loT Connects the World Chip Enables the Futrue 1514 Integrating AI to Empower New Energy Systems Willfaris integrating cutting-edge artificialintelligence into the development of new powersystems, driving the digital and intelligenttransformation of the power sector and supportingChina’s dual-carbon goals. Through advancedresearch into load forecasting, photovoltaic powergeneration prediction, and operational optimization,the Company enhances the accuracy of demand andrenewable energy forecasts, enabling intelligent,coordinated control across vast, distributedgeneration, supply, and consumption networks.Willfar is also advancing critical technologies such asintelligent topology identification and ground faultprotection, improving the efficiency and reliability ofdistribution networks. In the realm of smart cities, Willfar hasdeveloped AI edge computing gateways andintelligent security management platforms,significantly enhancing edge computing andsecurity capabilities. As the Vice Chairman of thePower Industry AI Alliance, the Company is activelypromoting AI applications in the power andrenewable energy sectors, contributing to theconstruction of new energy systems. In 2024, Willfar collaborated with a national-level key laboratory in the energy sector—approvedand managed by the central government—on “chips+ AI” initiatives, driving the industrialization ofresearch outcomes. This partnership advances thedigitization and intelligence of the power sector,injecting New Quality Productive Forcesinto energyIoT development. In 2025, Willfar will continue to deepen itsfocus on “AI + Energy,” establishing new paradigmswhile expanding AI applications in edge computingand big data. The Company will also accelerate itsinternationalization strategy, leading industrystandard-setting efforts to contribute to globalenergy transitions and high-quality digital economydevelopment. Deepening Indust-Academia-Research CollaborationHarnessing Innovative Resources Willfar Information has established a provincial-level academician expert workstation, postdoctoralresearch station, and provincial engineering technologyresearch center. The Company collaborates deeply withleading domestic institutions, including TsinghuaUniversity, the National Supercomputing Center inChangsha, and the China Association of City Science,fostering resource sharing and complementarystrengths to jointly conduct technological research andproduct development. Through its partnership with Tsinghua University,Willfar is enhancing the reliability of new power systemsby developing channel-less protection technologies,addressing critical industry challenges in faultdiagnosis. Collaboration with the NationalSupercomputing Center in Changsha provides access tohigh-performance computing resources andalgorithmic research capabilities, enabling theapplication of cutting-edge technologies acrossindustries. These initiatives strengthen Willfar’sinnovation ecosystem and support its leadership inNext-Gen Productivity. Boosting TransparencyPaving the Way for Capital MarketAdvancement In the pursuit of high-quality development in the capital markets,effective information disclosure and robust investor relations are vitallinks connecting Willfar to its investors. The Company remainscommitted to an Investor-Centric Approach, ensuring transparency,accessibility, and engagement through innovative disclosure practicesand multi-channel communication. WillfarInformationTechnologyCo.,Ltd.Corporate Value and Return Enhancement Action Plan 2025loT Connects the World Chip Enables the Futrue e 2023 peormance brieng, hosted onthe Shanghai Stock Exchange’s roadshowplatform and led by the Chairman withindependent directors in attendance, wasbroadcast across multiple platforms,reaching 10,000 viewers on the Company’sWeChat video channel alone. In 2024, the Company organized investorreceptiondaysRegular Investor Briengs: 1716 Information disclosure sees as a critical bridge between the Company and its investors, forming the cornerstone of investor rights protection. provide comprehensive and transparent information toinvestors. Additionally, the company proactivelypromoted volunta disclosure initiatives, promptlysharing information that is crucial for investors' valuejudgments and decision-making processes. In 2024, the Company launched bilingual “One-Cha Insights” for its four quaerly repos, usingconcise, intuitive chas to highlight key nancial dataand business achievements. Additionally, Willfarproduced video explanations of its annual repo,featuring management team members to provide clear,accessible insights into key nancial and strategicpoints, enabling investors to obtain core information ina more direct and convenient manner. Given the technical nature of Willfar’s indust, theCompany emphasizes plain language, chas, casestudies, and video explanations to eectively reducecognitive barriers for investors, helping investors graspits business development process, achievements, andstrategic vision. A ComprehensiveOveiew Innovating Disclosure Formats, Enhancing Information Delive In 2024, Willfar adhered to the principles ofTruthfulAccurateCompleteTimelyFair disclosure publishing mandato announcements to Beyond regulato requirements, the Companyproactively issued 14 volunta disclosures, includingmonthly contract bid-winning repos, bilingualversions of the "Corporate Value and ReturnEnhancement Action Plan ", and ESG repos, oeringmulti-dimensional insights into its operationalpeormance, social responsibility, and sustainabilityeos. While ensuring compliance, Willfar focused onenhancing the content and format of its disclosures,improving visual clarity, readability, and internationalappeal. ese enriched disclosures were distributedthrough multiple channels, including the Company’swebsite, WeChat public account, WeChat video channel,and investor relations mini-program. Willfar alsoleveraged the Shanghai Stock Exchange’s “STAR Market3-Minute Insights into New-Quality Productive Forces”platform to share a visual interpretation of its 2023annual repo, and panered with Securities Times forthe “Exploring STAR Market Innovation, DecodingIndust Pioneers, A Tour of New-Quality ProductiveForces in Shanghai Stock Exchange” series, using vividlanguage to showcase its role in building new energysystems as a “neural network.” ese eos garnered32,760 views, demonstrating signicant engagement. Since the inception of information disclosureassessments for the STAR Market, Willfar hasconsistently earned the highest A-level rating from theShanghai Stock Exchange for its disclosure quality,reecting its dedication and excellence. In 2025, the Company will uphold high standards, continuously improving disclosure quality using AI tools toenrich visual presentations. Building on bilingual “One-Cha Insights” and ESG repos, Willfar will publish allWeChat public account content in dual languages and leverage AI to produce multi-lingual versions of its 2024annual repo video and 2024 peormance brieng video, catering to investors in dierent regions and expanding itsinuence in international capital markets. ESG repo WeChat Public Account Multi-Platform EngagementBuilding a Comprehensive Communication Network Willfar prioritizes investor relationsmanagement, engaging investorsthrough diverse platforms and channelsto foster trust, deepen understanding,and promote mutual growth. performancebrie?ngsandoveronlineando?ineresearchinteractionsattracting investment institutionsandprofessionals. Beyond these, Willfar hosted thematicinvestor events, inviting paicipants to visitits facilities, engage with indust expesand management, and share feedback,enhancing investor recognition andsatisfaction. WillfarInformationTechnologyCo.,Ltd.Corporate Value and Return Enhancement Action Plan 2025loT Connects the World Chip Enables the Futrue e 2023 peormance brieng, hosted onthe Shanghai Stock Exchange’s roadshowplatform and led by the Chairman withindependent directors in attendance, wasbroadcast across multiple platforms,reaching 10,000 viewers on the Company’sWeChat video channel alone. In 2024, the Company organized investorreceptiondaysRegular Investor Briengs: 1716 Information disclosure sees as a critical bridge between the Company and its investors, forming the cornerstone of investor rights protection. provide comprehensive and transparent information toinvestors. Additionally, the company proactivelypromoted volunta disclosure initiatives, promptlysharing information that is crucial for investors' valuejudgments and decision-making processes. In 2024, the Company launched bilingual “One-Cha Insights” for its four quaerly repos, usingconcise, intuitive chas to highlight key nancial dataand business achievements. Additionally, Willfarproduced video explanations of its annual repo,featuring management team members to provide clear,accessible insights into key nancial and strategicpoints, enabling investors to obtain core information ina more direct and convenient manner. Given the technical nature of Willfar’s indust, theCompany emphasizes plain language, chas, casestudies, and video explanations to eectively reducecognitive barriers for investors, helping investors graspits business development process, achievements, andstrategic vision. A Comprehensive Oveiew Innovating Disclosure Formats, Enhancing Information Delive In 2024, Willfar adhered to the principles ofTruthfulAccurateCompleteTimelyFairdisclosurepublishing mandato announcements to Beyond regulato requirements, the Companyproactively issued 14 volunta disclosures, includingmonthly contract bid-winning repos, bilingualversions of the "Corporate Value and ReturnEnhancement Action Plan ", and ESG repos, oeringmulti-dimensional insights into its operationalpeormance, social responsibility, and sustainabilityeos. While ensuring compliance, Willfar focused onenhancing the content and format of its disclosures,improving visual clarity, readability, and internationalappeal. ese enriched disclosures were distributedthrough multiple channels, including the Company’swebsite, WeChat public account, WeChat video channel,and investor relations mini-program. Willfar alsoleveraged the Shanghai Stock Exchange’s “STAR Market3-Minute Insights into New-Quality Productive Forces”platform to share a visual interpretation of its 2023annual repo, and panered with Securities Times forthe “Exploring STAR Market Innovation, DecodingIndust Pioneers, A Tour of New-Quality ProductiveForces in Shanghai Stock Exchange” series, using vividlanguage to showcase its role in building new energysystems as a “neural network.” ese eos garnered32,760 views, demonstrating signicant engagement. Since the inception of information disclosureassessments for the STAR Market, Willfar hasconsistently earned the highest A-level rating from theShanghai Stock Exchange for its disclosure quality,reecting its dedication and excellence. In 2025, the Company will uphold high standards, continuously improving disclosure quality using AI tools toenrich visual presentations. Building on bilingual “One-Cha Insights” and ESG repos, Willfar will publish allWeChat public account content in dual languages and leverage AI to produce multi-lingual versions of its 2024annual repo video and 2024 peormance brieng video, catering to investors in dierent regions and expanding itsinuence in international capital markets. ESG repo WeChat PublicAccount Multi-Platform EngagementBuilding a Comprehensive Communication Network Willfar prioritizes investor relationsmanagement, engaging investorsthrough diverse platforms and channelsto foster trust, deepen understanding,and promote mutual growth. performancebrie?ngsandoveronlineando?ineresearchinteractionsattracting investment institutionsandprofessionals. Beyond these, Willfar hosted thematicinvestor events, inviting paicipants to visitits facilities, engage with indust expesand management, and share feedback,enhancing investor recognition andsatisfaction. WillfarInformationTechnologyCo.,Ltd.Corporate Value and Return Enhancement Action Plan 2025loT Connects the World Chip Enables the Futrue On March 19, 2024, the “STAR China – STAR 100 Index High-Quality DevelopmentResearch Tour,” co-hosted by Shanghai Securities News and Bosera Fund, visited Willfar.Management provided a comprehensive oveiew of the Company’s histo, core businesses,technological innovations, and indust layout, oering investors deeper insights into Willfar’scommitment to innovation and high-quality development. Diverse InvestorRelationsInteractions In 2024, Willfar added an “Investor Engagement” section toits WeChat public account, integrating its IR mini-program forreal-time announcement updates and research appointmentscheduling, oering investor quick, convenient access. eCompany paicipated in over strategy sessions organized by 40brokerages, receiving research repos from institutions, 5718with rated “Buy” and rated “Overweight,” eectively 2414communicating its value to the market. 1918 On May 20, 2024, Willfar hosted its 25th World Metrology Day exchange and investorreception, inviting indust expes to discuss the latest trends and innovations, whileshowcasing annual new products in areas like digital grids, communication chips, and smacities, strengthening investor understanding of the indust and Company. On September 13, 2024, under the guidance of the Hunan Securities Regulato Bureauand Hunan Fund Indust Association, Willfar welcomed investors for an in-person “face-to-face” exchange—the rst of its kind among Hunan-listed companies—featuring paicipationfrom auditors, marking a signicant step in protecting investor rights through innovativepractices. On December 19, 2024, the Company held its annual innovation summit and investorresearch event, inviting indust expes, scholars, and investors. During the event, thecompany established three innovation consoia focusing on new energy systems, sma gridinnovation, digital city simulation, and AI supercomputing. Willfar also unveiled 12 newproducts integrating Digital Twin, communication chips, and AI applications in digital grids andsma cities, engaging investors on green, low-carbon energy transitions and the Company’sfuture plans, reinforcing its commitment to high-quality development. STAR China – STAR 100 IndexHigh-Quality DevelopmentResearch TourFace-to-Face Investor On-siteExchange EventAnnual New Product Launch andInvestor Exchange ConferenceAnnual Innovation Summit andInvestor Research Meeting Timely Investor Responses Willfar leveraged platforms like the Shanghai StockExchange e-Interaction, JDM Finance, Panoramic Network, StockForum, and Xueqiu to promptly address investor inquiries,maintaining an average response time of within two businessdays. International Investor Relations Willfar expanded its global capital market presence,enhancing engagement with overseas institutions. In 2024, theCompany paicipated in the “Listed Companies Roadshow inHong Kong” organized by the China Listed CompaniesAssociation, conducting four reverse roadshows in Hong Kongand hosting ve on-site visits by international investors. roughinternational brokerage channels, Willfar issued English researchrepos, providing deep insights into its indust and businesspotential. By year-end, foreign ownership of the Company’sshares increased by compared to the beginning of 2024, 106%reecting growing international engagement. In 2025, Willfar will establish a capital market working group ledby the Chairman at the board level, enhancing routine investorcommunication by leveraging AI tools to build diversied and ecientcommunication channels.e Company will explore inviting investorsto visit overseas factories, establish mechanisms for consultinginvestors on major events, and respond promptly to investorconcerns, fostering a panership for shared growth and valuecreation. WillfarInformationTechnologyCo.,Ltd.Corporate Value and Return Enhancement Action Plan 2025loT Connects the World Chip Enables the Futrue Directors Willfar will focus on modernizing governance capabilities, following apath of "safeguarding shareholder rights, innovating governancemechanisms, upgrading risk management, and deeply integrating ESG".ese eos will solidify the Company’s governance foundation,delivering long-term, sustainable value to investors. 2120 Strengthening Governance Foundations,Building a Robust Framework forHigh-Quality DevelopmentIn today’s complex business environment and stringentregulatory landscape, Willfar recognizes that exceptional corporategovernance is essential for sustainable development and enhancingmarket value. The Company is committed to improving governanceefficiency, implementing key initiatives to ensure steady progress andlay a strong foundation for investor returns. safeguarding shareholder rights innovating governancemechanisms upgrading risk management deeply integrating ESG Diversied Board StructureEnhancing Scientic Decision-Making Willfar is dedicated to building a diversied and high-peorming board, comprising nine directors with over 20 yearsof expeise in their respective elds. e board includes threeindependent directors and two female directors, reectingdiversity in perspectives and gender, providing robustprofessional suppo for strategic decisions and operationalmanagement.In 2024, with a focus on regulato compliance, Willfar promptly revised and updated relevant policiesin response to policy changes, continuously improving internal management mechanisms, optimizinggovernance, and protecting the rights of minority shareholders. In accordance with the corporate governance rules for listed companies issued by the ChinaSecurities Regulato Commission (CSRC) and the Shanghai Stock Exchange (SSE), theCompany held shareholder meetings and board meetings, passing resolutions. 4837Willfar updated and rened nine governance policies, including its Aicles of Association,External Guarantee Management Policy, and Related Pay Transaction ImplementationRules.And the Board of Directors/Shareholder Meeting also approved the <Accounting FirmSelection Policy> to standardize auditor appointments.As a constituent of the Shanghai Stock Exchange STAR 100 Index, Willfar implemented its <Market Value Management Policy>, approved by the board on Janua 14, 2025. ese eosearned the Company recognition as a 2024 Best Practice Case in Board Governance by the ChinaListed Companies Association.In 2025, with the new Company Law introducing requirements for employee directors, Willfarwill seize this oppounity to enhance its governance structure and eciency. e Company willproactively appoint directors representing employee interests with strong professionalqualications, develop tailored training programs to suppo their roles, and optimize decision-making processes to foster collaboration among directors. Leveraging this diverse boardstructure, Willfar will not only meet regulato requirements but also boost its marketcompetitiveness, creating greater value for shareholders, employees, and society. WillfarInformationTechnologyCo.,Ltd.Corporate Value and Return Enhancement Action Plan 2025loT Connects the World Chip Enables the Futrue Directors Willfar will focus on modernizing governance capabilities, following apath of "safeguarding shareholder rights, innovating governancemechanisms, upgrading risk management, and deeply integrating ESG".ese eos will solidify the Company’s governance foundation,delivering long-term, sustainable value to investors. 2120 Strengthening Governance Foundations,Building a Robust Framework forHigh-Quality DevelopmentIn today’s complex business environment and stringentregulatory landscape, Willfar recognizes that exceptional corporategovernance is essential for sustainable development and enhancingmarket value. The Company is committed to improving governanceefficiency, implementing key initiatives to ensure steady progress andlay a strong foundation for investor returns. safeguarding shareholder rights innovating governance mechanisms upgrading risk management deeply integrating ESG Diversied Board StructureEnhancing Scientic Decision-Making Willfar is dedicated to building a diversied and high-peorming board, comprising nine directors with over 20 yearsof expeise in their respective elds. e board includes threeindependent directors and two female directors, reectingdiversity in perspectives and gender, providing robustprofessional suppo for strategic decisions and operationalmanagement. In 2024, with a focus on regulato compliance, Willfar promptly revised and updated relevant policiesin response to policy changes, continuously improving internal management mechanisms, optimizinggovernance, and protecting the rights of minority shareholders.In accordance with the corporate governance rules for listed companies issued by the ChinaSecurities Regulato Commission (CSRC) and the Shanghai Stock Exchange (SSE), theCompany held shareholder meetings and board meetings, passing resolutions. 4837Willfar updated and rened nine governance policies, including its Aicles of Association,External Guarantee Management Policy, and Related Pay Transaction ImplementationRules.And the Board of Directors/Shareholder Meeting also approved the <Accounting FirmSelection Policy> to standardize auditor appointments.As a constituent of the Shanghai Stock Exchange STAR 100 Index, Willfar implemented its <Market Value Management Policy>, approved by the board on Janua 14, 2025. ese eosearned the Company recognition as a 2024 Best Practice Case in Board Governance by the ChinaListed Companies Association.In 2025, with the new Company Law introducing requirements for employee directors, Willfarwill seize this oppounity to enhance its governance structure and eciency. e Company willproactively appoint directors representing employee interests with strong professionalqualications, develop tailored training programs to suppo their roles, and optimize decision-making processes to foster collaboration among directors. Leveraging this diverse boardstructure, Willfar will not only meet regulato requirements but also boost its marketcompetitiveness, creating greater value for shareholders, employees, and society. WillfarInformationTechnologyCo.,Ltd.Corporate Value and Return Enhancement Action Plan 2025loT Connects the World Chip Enables the Futrue Willfar recognizes the pivotal role of independent directors in corporategovernance, establishing a comprehensive framework to suppo theircontributions. In 2024, the Company introduced the <Independent Director WorkPolicy>, clearly dening their responsibilities, rights, and obligations to ensureeective oversight. Willfar also created dedicated communication channels,assigning professional liaisons to facilitate interactions between independentdirectors and internal teams, ensuring timely feedback and implementation oftheir insights. At the strategic level, the company actively involves independentdirectors in discussions and consultations on internationalization, developmentof new quality productive forces, and corporate governance. Willfar is committed to green manufacturing and innovation, aligning with national calls for“New Quality Productive Forces”by deeply integrating ESG (Environmental, Social, andGovernance) into its strategy, products, operations, and value chain. Since 2021, the Company hasvoluntarily published annual social responsibility repos, transparently sharing its ESGachievements with stakeholders. In Februa 2024, Willfar released its 2023 ESG repo in bothChinese and English, demonstrating its commitment to accountability. In 2024, internally, Willfar advanced green operations through intelligent manufacturing andthe development of low-carbon industrial parks, implementing facility and equipment upgrades toreduce energy consumption and increase clean energy usage, earning the title of “National GreenFacto.” Externally, the Company promoted green initiatives, suppoing national new energysystem development and the Belt and Road Initiative, enabling low-carbon management forindustrial parks, enterprises, industries, and cities while fullling its social responsibilities to createvalue for markets, industries, nations, and society. Governance Achievements 2322 Empowered Independent DirectorsDriving Governance Excellence Independent directors, with their deep expeise, play a critical role in majordecision-making processes. Professor Gu Qingyang from the National Universityof Singapore, a renowned economist, leverages his global perspective andinsights into economic trends to guide Willfar’s internationalization strategy.Professor Huang Shoudao from Hunan University, with decades of experience inelectrical engineering, provides precise technical guidance for the Company’senergy IoT business. Professor Yang Yan, an expe in nancial management andcorporate social responsibility, sees as Chair of the Audit Committee, deliveringcritical oversight in nancial auditing and risk management to ensure scal healthand compliance. In 2025, Willfar will fuher optimize suppo for independent directors,enhancing collaboration with internal teams through at least four annualcommunication sessions. is will create a regular platform for informationsharing and joint eos, enabling independent directors to integrate cutting-edge academic insights and innovative thinking into decision-making, injectingfresh vitality into the Company’s development. Embracing ESG PrinciplesPaving the Path to Sustainability In 2025, Willfar will lead with innovation, enhancing ESG governance across multipledimensions to build core competitive advantages in sustainability, guiding the Company toward agreener, fairer, and more ecient future. Consecutive Two-Year Highest A-Level Rating forInformation Disclosure by the SSEBest Practice of the Board of Directors by the CAPCOBest Practice of Earnings Presentation by the CAPCOBest Practice of the Board Oce by the CAPCOGolden Bull Award - Golden Disclosure Award by ChinaSecurities JournalAnnual Top Growth Enterprises among China A-ShareListed Companies in 2024Top 30 Valued Companies on the STAR Markete Best Listed Companies of 2024 by NewFoune Magazine Green Environmental AchievementsNational-Leve “Green Facto”National-Level Green Supply Chain ManagementEnterpriseDirector Unit of Hunan Green ManufacturingIndust Federation Social Responsibility AchievementsNational Model Enterprise for Harmonious Labor RelationTop 50 Employers in Job Absorption for 2023Class A Unit in Labor Protection, Law Compliance, and Integrity in 2023A-level Tax Credit Enterprise for 19 consecutive yearsTop 100 High-Tech Enterprises in Hunan Province in Tax Contribution in 2023Top 100 Private Enterprises in Hunan Province in Tax Contribution for 2023Top 50 “Specialized, Rened, Unique, and Innovative” Small and Medium-SizedEnterprises in Hunan Province in Tax Contribution for 2023 Top 100 Taxpaying Enterprises in Xiangjiang New Area, Hunan Province in 2024Top 100 Taxpaying Enterprises in Xiangjiang New Area, Hunan Province in 2023 ESG Management Achievements Wind ESG Rating "A" LevelHuazheng ESG Rating "A" LevelSelected into the“ ESG Best Practice Cases of ListedCompanies” by the China Association for PublicCompanies (CAPCO)Cailian Press“ Best ESG Award”Top 100 A-Share Listed Companies with the Best ESGRating Improvement by Huazheng in 2024Best ESG Practice by New Foune Magazine in 2024ESG Golden Dawn Award for Best ESG Practice Enterprisesby China Securities Market Weekly in 2024 WillfarInformationTechnologyCo.,Ltd.Corporate Value and Return Enhancement Action Plan 2025loT Connects the World Chip Enables the Futrue “Xinhua Credit Jinlan Cup” Excellent Cases onCarbon Peak and Carbon Neutrality In 2025, Willfar will rene its market-oriented compensation andpeormance evaluation system, fuher linking managementremuneration to overall company peormance. By enhancingpeormance assessments, aligning strategic planning, budgeting,and evaluation, and dynamically adjusting resource allocation basedon results, the Company will energize its organization, ensuringmanagement and corporate peormance are in sync, driving high-quality development. 2524 Reinforcing Core LeadershipEstablishing a Path to Compliant andSteady DevelopmentWillfar recognizes that “Core Leadership”—keyexecutives and decision-makers—plays a vital role in drivinghigh-quality development and maximizing shareholdervalue. In 2024, the Company implemented a series ofmeasures to align the interests of management, theCompany, and shareholders, including employee stockownership plans, dynamic compensation adjustments, anddiversified training programs. These initiatives enhance thegovernance capabilities of directors, supervisors, and seniormanagement, ensuring steady, sustainable growth. Employee Stock Ownership Boosting IncentivesDriving Mutual Prosperity In 2024, Willfar launchedits rst employee stockownership plan, oering4 million shares to134 core employees,who fully subscribed with 77.68 million yuan. e plan includes a three-year lock-up period, withshares unlocking in threetranches (40%, 30%, and 30%), tied toindividual peormancemetrics to balanceincentives andaccountability. is initiative strengthensemployees’ sense ofownership and alignstheir interests with thoseof shareholders and theCompany. WillfarInformationTechnologyCo.,Ltd.Corporate Value and Return Enhancement Action Plan 2025loT Connects the World Chip Enables the Futrue In 2025, Willfar will rene its market-oriented compensation andpeormance evaluation system, fuher linking managementremuneration to overall company peormance. By enhancingpeormance assessments, aligning strategic planning, budgeting,and evaluation, and dynamically adjusting resource allocation basedon results, the Company will energize its organization, ensuringmanagement and corporate peormance are in sync, driving high-quality development. 2524 Reinforcing Core LeadershipEstablishing a Path to Compliant andSteady DevelopmentWillfar recognizes that “Core Leadership”—keyexecutives and decision-makers—plays a vital role in drivinghigh-quality development and maximizing shareholdervalue. In 2024, the Company implemented a series ofmeasures to align the interests of management, theCompany, and shareholders, including employee stockownership plans, dynamic compensation adjustments, anddiversified training programs. These initiatives enhance thegovernance capabilities of directors, supervisors, and seniormanagement, ensuring steady, sustainable growth. Employee Stock Ownership Boosting IncentivesDriving Mutual Prosperity In 2024, Willfar launchedits rst employee stockownership plan, oering 4 million shares to134 core employees, who fully subscribed with 77.68 million yuan. e plan includes a three-year lock-up period, withshares unlocking in threetranches (40%, 30%,and 30%), tied toindividual peormancemetrics to balanceincentives andaccountability. is initiative strengthensemployees’ sense ofownership and alignstheir interests with thoseof shareholders and theCompany. WillfarInformationTechnologyCo.,Ltd.Corporate Value and Return Enhancement Action Plan 2025loT Connects the World Chip Enables the Futrue Willfar understands the critical role of Core Leadership ingovernance, providing systematic training and policy updates toelevate compliance awareness and peormance. Staying Ahead of Regulato DynamicsEnhancing Core Leadership Capabilities In 2024, the Company leveraged resources from the CSRC,Shanghai Stock Exchange, Pujiang Lecture Hall, China ListedCompanies Association, and Capital Market College, organizing 26training sessions for controlling shareholders, directors,supeisors, and senior management, covering comprehensivecompliance knowledge to ensure alignment with the latestregulations, enhance risk management, and improve governanceskills. For specic areas like ESG, M&A, sentiment management,nancial repoing, information disclosure, investor relations roles,and corporate bonds or asset securitization, Willfar arrangedtargeted training for responsible depaments through theShanghai Stock Exchange, China Listed Companies Association,and Hunan Listed Companies Association, boosting overallcompliance and professional expeise. To keep pace with regulato updates, Willfar established aquaerly monitoring mechanism for new regulations, compilingand interpreting the latest capital market rules, market trends, andcase studies for distribution to Core Leadership. In 2025, Willfar will maintain its “rst to know,rst to interpret” approach, establishing anecient policy interpretation and disseminationsystem. e Company plans to issue at least fourquaerly regulato updates and host at least twoin-person compliance training sessions withaccounting rms, law rms and other professional institutions, tailoringcontent to Willfar’s needs. ese eos will helpmanagement stay ahead of policy trends, navigatemarket shifts, and meet CSRC requirements forenhanced regulato enforcement and investorprotection. loT Connects the World Chip Enables the Futrue Stock Code:688100 Willfar Information Technology Co., Ltd. Web：https://www.willfar.com/Tel：0731-88619798Add：No.468 Wasion Science & Technology Park, West Tongzipo Road,High-Tech Development Zone, Changsha, Hunan, P.R.China Willfar Information Technology Co., Ltd Corporate Value and Return EnhancementAction Plan 2025
附件： ↘公告原文阅读

Stock Code:688100

Willfar Information Technology Co., Ltd.

Web：https://www.willfar.com/Tel：0731-88619798Add：No.468 Wasion Science & Technology Park, West Tongzipo Road,High-Tech Development Zone, Changsha, Hunan, P.R.China

Willfar Information Technology Co., Ltd

Corporate Value and Return EnhancementAction Plan 2025

Focusing on Core Business to DriveValue and Eciency, Building a Path toHigh-Quality Development

Willfar deeply understands that strengthening and expanding itscore business while enhancing operational quality is the foundationfor achieving sustained high-quality development and deliveringgreater returns to investors.

In 2024, under the operating theme of "Steady Progress withInnovative Development". The Company continued to implement"Value and Return Enhancement" initiatives, leveraging technologicalinnovation as a key driver to cultivate new quality productivity. Byfocusing on improving operational quality and asset efficiency,deepening domestic market penetration, advancing the "threeinternationalization strategies" (organizational, ideological, andstrategic), and accelerating its global expansion, the Companysignificantly expanded its market share, achieving new highs in bothrevenue and profitability.

In 2025, Willfar will adhere to a development path that balances"organic growth with strategic expansion, and efficiencyimprovements with innovation-driven progress". With “Value andReturn Enhancement” as the guiding principle, the Company willadvance its internationalization efforts, ensuring the robustimplementation of this action plan to elevate operational quality tonew heights and build a more resilient and dynamic path to high-quality development.

???? Highlights and Performance

0302

2.75

Billion Yuan

Operating Revenue+23.35%YoYGrowth

22.98

+20.07%

Net Prot Attributableto Parent Company

Million Yuan

YoYGrowth

Net Prot MarginAttributable to ParentCompany

20.39

1.47%

26.66

Return on Equity (ROE)YoYGrowth

Total Shareholder ReturnSince listing, cumulative

dividends and sharerepurchases have totaled

Million yuan

%32313.02

8.31

Cash DividendPayout Ratio

CumulativeRepurchase Amount

Million yuan

Cumulative Number ofRepurchased Shares

MillionRepurchase and Cancellation

MillionShares(representing 1.66% of the totalshare capital)，Equivalent to approximately

Million yuanin cash dividends

Inclusion in the SSE STAR MarketESG IndexInclusion in the SSE 380 IndexInclusion in the STAR AI Index Inclusion in the STAR 100 IndexWind ESG Rating "A" LevelNational-Level Specialized, Rened,Distinctive, and Innovative 'Little Giant'EnterprisesNational Intellectual PropeyAdvantage EnterpriseChina Patent Excellence Award

e Highest AAA-level Ceication of theIntegration of Informatization andIndustrialization Management System in2024 by the Minist of Indust andInformation TechnologyTop 100 Internet Companies in China byComprehensive Strength in 2024Top 50 Chinese Listed Companies in NewQuality Productive ForcesConsecutive Two-Year Highest A-Level Ratingfor Information Disclosure by the SSEBest Practice of the Board of Directors by the CAPCOBest Practice of Earnings Presentation by the CAPCO

WillfarInformationTechnologyCo.,Ltd.Corporate Value and Return Enhancement Action Plan 2025loT Connects the World Chip Enables the Futrue

Strengthening FoundationsLaying the Groundwork for High-Quality Development

Operating Revenue

2.75

23.35%

2024

20.07%

2024

20.39%

2024

22.98%

%%%

84.6284.6284.62

Accounting for Accounting for Accounting for

%%%

15.3815.3815.38

2.314

16.4%

OperatingRevenue

85.4%

Overseas Income

770million yuan

becoming the top revenue-generatingproduct.

18%

28.39%

In 2024, Willfar Achieved Significant Value and Return Enhancement, Creating New Performance Highs.

2024

Billion Yuan

YoY GrowthYoY Growth

Net Prot Attributableto Parent CompanyMillion Yuan

Net Prot MarginAttributable toParent Company

Return onEquity (ROE)

Domestic Business Grew Steadily while Overseas Business Achieved Leapfrog Growth.

Domestic Income

Million Yuan

OperatingRevenue

Billion YuanYoY GrowthYoY Growth

Accounting for Accounting for Accounting for

In 2024, we secured over

e chip module business demonstratedrobust growth, achieving

776 million yuan

in revenue, year on year growth ofaccounting for

In the context of global manufacturing restructuring,surging AI computing demands, and the transformationof new energy systems.

49%

in bids for electricity informationcollection equipment during centralizedprocurement tenders by the State Gridand Southern Grid, ranking rst in theindust by bid share.

The Company successfully launched nearly

50 new products and solutions

which accounted for of core business income.

1.338 billion yuan generating in new product revenue,

In 2024，Operational Quality and Cash FlowOptimization

YoY Improvement of

13.52%

Net Cash Flow from Operating Activities474 million yuan

The order book remained robust,as of December 31, 2024

4.017Billion Yuan

15.35%

Net Cash Flow from Operating ActivitiesYoY Growth

WillfarInformationTechnologyCo.,Ltd.Corporate Value and Return Enhancement Action Plan 2025loT Connects the World Chip Enables the Futrue

Strengthening FoundationsLaying the Groundwork for High-Quality Development

Operating Revenue

2.75

23.35%

2024

20.07%

2024

20.39%

2024

22.98%

%%%

84.6284.6284.62

Accounting for Accounting for Accounting for

%%%

15.3815.3815.38

2.314

16.4%

OperatingRevenue

85.4%

Overseas Income

770million yuan

becoming the top revenue-generatingproduct.

18%

28.39%

In 2024, Willfar Achieved Significant Value and Return Enhancement, Creating New Performance Highs.

2024

Billion Yuan

YoY GrowthYoY Growth

Net Prot Attributableto Parent CompanyMillion Yuan

Net Prot MarginAttributable toParent Company

Return onEquity (ROE)

Domestic Business Grew Steadily while Overseas Business Achieved Leapfrog Growth.

Domestic IncomeMillion Yuan

OperatingRevenue

Billion YuanYoY GrowthYoY Growth

Accounting for Accounting for Accounting for

In 2024, we secured over

e chip module business demonstratedrobust growth, achieving

776 million yuan

in revenue, year on year growth ofaccounting for

In the context of global manufacturing restructuring,surging AI computing demands, and the transformationof new energy systems.

49%

in bids for electricity informationcollection equipment during centralizedprocurement tenders by the State Gridand Southern Grid, ranking rst in the

indust by bid share.

The Company successfully launched nearly

50 new products and solutions

which accounted for of core business income.

1.338 billion yuan generating in new product revenue,

In 2024，Operational Quality and Cash FlowOptimization

YoY Improvement of

13.52%

Net Cash Flow from Operating Activities474 million yuan

The order book remained robust,as of December 31, 2024

4.017Billion Yuan

15.35%

Net Cash Flow from Operating ActivitiesYoY Growth

WillfarInformationTechnologyCo.,Ltd.Corporate Value and Return Enhancement Action Plan 2025loT Connects the World Chip Enables the Futrue

In 2024, Willfar made significant strides in its global expansion through organizationalinternationalization, ideological internationalization, and strategic internationalization,achieving breakthroughs in its overseas business.

OverseasIncome

YoYGrowth421Million Yuan

85.4%

emergingasakeydriverofthecompany'sperformancegrowth.

Theproportionofoverseasrevenueincreasedfromin2023to

By the end of 2024, the Company had established over

10 overseas subsidiaries and sales offices, with factories

under construction in Saudi Arabia and Indonesia, set tocommence operations in 2025.

Leveraging the global energy transition,Willfar secured multiple product certificationsacross Asia, Europe, and North America, layinga solid foundation for its internationalizationstrategy.

These achievements enableWillfar to deliver reliable, high-quality products and services toglobal customers.

2025 marks the culmination year of Willfar Information’s “5-5” strategic plan. Amid profound changes in the global energylandscape, policy guidance, and market demands, the Company isseizing these strategic opportunities to optimize its industrylayout, accelerate technological innovation, and expand marketpresence. Willfar will closely align with these directions to drivesynergistic growth and unlock new industry momentum.

10.24%

15.38%

0706

Expanding Globally, Building New CompetitiveAdvantages in International Markets

In 2024, the Company obtained keyinternational certifications, including the U.S.FCC certification, CE-RED (EU Radio EquipmentDirective) certification, MID/OIML metrologycertification, and STS prepaid productcertification.

In software development, Willfar achievedthe highest level of the Capability MaturityModel Integration (CMMI-ML5) certification,positioning it among the few companies globallycapable of delivering high-quality softwareintegration services to international markets.

Unleashing SynergiesActivating New Indust Dynamics

In 2025, the Company will proactively optimize resources and reducecosts. In business expansion, organizational restructuring, and budgetplanning, Willfar will sharpen its focus on core operations throughcomprehensive budget management. This will integrate revenue-enhancinginitiatives—such as international expansion, new product development,technology application, and market breakthroughs—with cost-savingmeasures, including cost reduction, managing bad receivables andinventory, and improving per-capita productivity and operational efficiency.These efforts will ensure efficient resource utilization and robust execution.Willfar will reinforce accountability, prioritize key performance indicators,and advance internationalization while focusing on major projects.In 2025, the Company will continue to enhance operational quality and innovation capabilities,strengthen talent development, and aggressively recruit top talent. Key initiatives include:

Accelerating international marketexpansion through prudentoverseas site development,enhanced management of keyinternational projects, andoptimized operations of overseasfactories. The Company will alsoexpand innovative business lineswhile elevating theinternationalization andprofessionalism of managementfunctions, including humanresources, finance, legal, and riskcontrol, to support long-termstrategic depth.

Adopting a customer-centric,market-driven approach todrive product and technologyinnovation, continuouslylaunching new products andsolutions in response tomarket needs. Willfar willpioneer new industries,business models, andmarkets, cultivating newgrowth drivers andestablishing competitiveadvantages.

Concentrating on corebusinesses, targetingopportunities to complement,strengthen, and extendindustry chains. The Companywill prioritize high-synergy,high-barrier acquisitions andstrategic investments, aimingto complete at least onestrategic M&A project in 2025to achieve a balance oforganic growth and strategicexpansion, as well asefficiency improvements andinnovation-driven progress.

WillfarInformationTechnologyCo.,Ltd.Corporate Value and Return Enhancement Action Plan 2025loT Connects the World Chip Enables the Futrue

85.4%

emergingasakeydriverofthecompany'sperformancegrowth.

Theproportionofoverseasrevenueincreasedfromin2023to

By the end of 2024, the Company had established over

10 overseas subsidiaries and sales offices, with factories

under construction in Saudi Arabia and Indonesia, set tocommence operations in 2025.

Leveraging the global energy transition,Willfar secured multiple product certificationsacross Asia, Europe, and North America, layinga solid foundation for its internationalizationstrategy.

These achievements enableWillfar to deliver reliable, high-quality products and services toglobal customers.

10.24%

15.38%

0706

Expanding Globally, Building New CompetitiveAdvantages in International Markets

Unleashing SynergiesActivating New Indust Dynamics

WillfarInformationTechnologyCo.,Ltd.Corporate Value and Return Enhancement Action Plan 2025loT Connects the World Chip Enables the Futrue

Willfar Information viewscash dividends as a criticalway to reward investors.Dividend Distribution per ShareYoY GrowthTotal Cash Dividend Distribution

0.43 Yuan

30%

211Million Yuan

In September 2024, the Company completed a pivotal initiative by canceling 8.31 million shares(1.66% of total share capital) repurchased for approximately 200 million yuan. This action optimized theCompany’s share structure, contributing to a 1.47 percentage point year-on-year increase in ROE to

20.39%. It shows the dual effectiveness of the company in value creation and shareholder return.

2019

Dividend

?.??yuan

?.??yuan?.??yuan

?.??yuan

2020202120222023

Cash Dividend per 10 Shares:

2024

?.??yuan

In 2025, Willfar will establish a scientific andstable dividend policy, targeting a baselinedividend payout ratio of 40% over the next five

years. This ensures investors can tangibly benefitfrom the Company’s growth, embodying our long-term vision and commitment to Shared ValueCreation.

0908

Enhancing Shareholder ReturnsEmbracing Shared Value Creation

Since its listing on the STAR Market in 2020, Willfar Informationhas consistently upheld an Investor-Centric Approach, reinforcingshareholder returns through a combination of high cash dividends andshare repurchases with cancellations. In 2024, the Company’scoordinated efforts in cash dividends (totaling 700 million yuan),share cancellations (equivalent to 200 million yuan), and market valuemanagement resulted in a total shareholder return (TSR) of 26.66%and a return on equity (ROE) of 20.39%. The combined value of cashdividends and share cancellations reached 1.48 times the netproceeds from the IPO (610 million yuan), achieving a win-winscenario of performance growth and capital appreciation. Theseactions reflect Willfar’s deep commitment to investor responsibilityand its establishment of a comprehensive, multi-layered investorreturns framework.

In 2025, the Company will remain dedicated to value creation, further refining itsstable dividend policy and implementing a robust market value management policy tofulfill its commitments to investors and embrace Shared Value Creation.Consistent Dividends Demonstrating CommitmentEnsuring Mutual Benets

On May 9, 2024, Willfar completed the dividenddistribution and interest payment for the year 2023.

Since its listing, the Company has cumulativelydistributed in cash 704 million yuandividends. In September 2024, Willfar canceledshares worth approximately , 200million yuanbringing the total value of cash dividends andshare cancellations to 900 million yuan—1.48

times the net IPO proceeds. This demonstrates

the Company’s strong commitment to andaccountability for shareholder interests.

To visually showcase the Company’s dividendperformance, a chart is included, detailing annualdividend amounts, per-share dividends, and year-on-year growth trends (see attached chart).

This data highlights Willfar’s steady increase individend scale and growth rate, further bolsteringinvestor confidence.

DividendDividendDividendDividendDivident(planned)

Share Repurchases and Cancellations Boosting Returns,Incentives Driving Growth

In January 2025, the Company announced a new share repurchase plan, targeting 100 million yuanto 150 million yuan in shares. This follows the successful repurchase of 12.31 million shares (worth 300million yuan) between 2022 and 2023. The repurchased shares will support equity incentives or employeestock ownership plans, fostering long-term motivation among core teams and injecting vitality into theCompany’s sustainable development.

In 2025, Willfar will diligently execute the repurchase plan diligently, closely monitoring marketdynamics and stock price trends, adjusting the repurchase pace as needed, and disclosing progress in atimely and accurate manner in accordance with regulations. These efforts will stabilize investorexpectations, strengthen market confidence, and support the Company’s steady advancement in thecapital markets.

WillfarInformationTechnologyCo.,Ltd.Corporate Value and Return Enhancement Action Plan 2025loT Connects the World Chip Enables the Futrue

Four in one management system

Value Creation(40% baseline dividend ratio)

This approach will enable real-time tracking of market trends and investor feedback, translatingcorporate achievements into tangible investor value and laying a solid foundation for high-qualitydevelopment in the capital markets.

As of December 31, 2024, the closing stockprice was 36.20 yuan, representing a 163%increase from the listing price of 13.78 yuan, witha compound annual growth rate of 21.31% sincelisting. In 2024, the Company’s total shareholderreturn reached 26.66%, delivering substantialvalue to investors.

In 2025, Willfar will treat value management as a systemic strategic initiative,establishing afour-pronged framework:

1110

Value Management Stabilizing Share PricesSentiment Monitoring Safeguarding Progress

Since its listing, WillfarInformation has achieved steadystock price growth, driven by itsexpanding business footprintand consistent performanceimprovements.To better safeguard shareholder interests, Willfarformally launched its <Market Value ManagementPolicy> in early 2025, with the Chairman leading effortsto oversee market value initiatives. The Company hasintegrated sentiment monitoring into its dailymanagement practices, employing a range ofstrategies to maintain stable market value aligned withits intrinsic value, ensuring investor benefits areprotected.

Value Preseation(dynamic repurchasemechanism)

Value Communication(multi-dimensionalinvestor relationssystem)

Sentiment Management(routine monitoring+ responsivemechanisms)

Innovation as the DriverIgniting the Engine for High-QualityDevelopmentThe "New Nine Articles" emphasize the importance of adhering tohigh-quality development as the core theme, promoting innovation,and fostering Next-Gen Productivity. Today, the global manufacturinglandscape is undergoing profound transformation, with surging AIcomputing demands driving unprecedented electricity needs, whilethe widespread adoption of solar and wind energy is reshaping theglobal energy structure. These shifts present unprecedentedchallenges for stable, reliable, and high-quality power supply,ushering the global power industry into a new era of transformation.To address this, Willfar has developed a comprehensive productecosystem integrating "chips + IoT + artificial intelligence.”

WillfarInformationTechnologyCo.,Ltd.Corporate Value and Return Enhancement Action Plan 2025loT Connects the World Chip Enables the Futrue

The Company continues to prioritize technological innovation as thecornerstone of its growth, significantly increasing R&D investment andconsistently launching new products and solutions. This has yieldedimpressive market expansion results, solidifying Willfar’s leadership in China’spower sector while actively exploring emerging areas such as IntegratedEnergy System (Generation, Grid, Load, Storage), Digital Twin-enabled smartcity infrastructure, green buildings, and energy services, unlocking newgrowth avenues.

R&DSpending

The energy internet industry, in which Willfaroperates, is a critical pathway for energytransformation and revolution, as well as a vitalcomponent of the digital economy. As one ofChina’s earliest entrants in this field, Willfar holds aclear strategic first-mover advantage, adhering toits vision of “IoT-Enabling the World, Chip-Linkingthe Future”. The Company has deepened itscomprehensive energy IoT solutions, extendingapplications to cities, industrial parks, buildings,and enterprises, thereby digitalizing anddecarbonizing public urban infrastructure such aselectricity, water, gas, heating, and charging.These efforts advance the construction andintelligent management of new energy systems.Moving forward, Willfar will empower moreenterprises and cities to achieve green, low-carbon development, contributing to the buildingof modern energy ecosystems.

Overseas Breakthroughs as a Robust GrowthDriver, Becoming a Key Driver of PerformanceGrowth. In 2024, Willfar accelerated its globalexpansion, achieving significant progress inoverseas markets and driving a leap ininternational revenue. Through localizedoperations and tailored solutions, the Companyhas supported the digital transformation of energyinfrastructure along the Belt and Road Initiative.Multiple self-developed Wi-SUN chips haveearned international certifications, with Willfarnow serving as a core member of the Wi-SUNAlliance. Additionally, the Company’s intelligentultrasonic water meters have secured the highest-level international certifications in the EU, UK, andother regions, further solidifying its global marketposition.

During the reporting period, Willfar’s Wi-SUNcommunication module technology for power IoTpassed a scientific and technological evaluation,with multiple self-developed products receivingcertifications from the Wi-SUN Alliance, Brazil’sAnatel, and the U.S. FCC. Together with G3-PLC/BPLC technologies, these solutions providepower AMI communication options covering over70% of global countries, securing overseas ordersexceeding tens of millions of yuan and achievinginternational leading-edge technical standards.

The Company’s high-speed broadband carriercommunication technology and chips for power IoTalso underwent evaluation by an academician-ledexpert panel, with some aspects reachinginternational leadership and the overall leveldeemed internationally advanced. The new-generation dual-mode communication chip, as afrontrunner, passed testing and certification byboth State Grid and Southern Grid, furtherboosting its market share.

During the reporting period

YOYGrowth

241Million Yuan

5.95%

Willfaremployed441 51.34%

2020202120222023

10088

In terms of intellectual property

2024

1312

With Technological Innovation as its FoundationContinuously Increases R&D Investment

As of the end of the reporting period

R&D professionals

accountingforincludingindividualswithmaster’sdegreesorhigher.

of its workforce

patentsduring the period

including

inventionpatentsthe Company added

alongside

softwarecopyrights

2and integratedcircuit layoutdesign rights.

Willfar held a total of( of which are invention patents)

software copyrights, andintegrated circuit layout design rights

As of the reporting period﹂s end

valid patents

The Company has also contributed tostandards, including internationalstandard, national standards,industry standards,

local standards,and group standards.

million yuan

Deepening the Energy InternetSuppoing Global New Energy Systems and Sma Management

Self-Developed Chips: PenetratingDomestic Markets, Integrating Internationally

WillfarInformationTechnologyCo.,Ltd.Corporate Value and Return Enhancement Action Plan 2025loT Connects the World Chip Enables the Futrue

1514

Integrating AI to Empower New Energy Systems

Willfaris integrating cutting-edge artificialintelligence into the development of new powersystems, driving the digital and intelligenttransformation of the power sector and supportingChina’s dual-carbon goals. Through advancedresearch into load forecasting, photovoltaic powergeneration prediction, and operational optimization,the Company enhances the accuracy of demand andrenewable energy forecasts, enabling intelligent,coordinated control across vast, distributedgeneration, supply, and consumption networks.Willfar is also advancing critical technologies such asintelligent topology identification and ground faultprotection, improving the efficiency and reliability ofdistribution networks.

In the realm of smart cities, Willfar hasdeveloped AI edge computing gateways andintelligent security management platforms,significantly enhancing edge computing andsecurity capabilities. As the Vice Chairman of thePower Industry AI Alliance, the Company is activelypromoting AI applications in the power andrenewable energy sectors, contributing to theconstruction of new energy systems.

In 2024, Willfar collaborated with a national-level key laboratory in the energy sector—approvedand managed by the central government—on “chips+ AI” initiatives, driving the industrialization ofresearch outcomes. This partnership advances thedigitization and intelligence of the power sector,injecting New Quality Productive Forcesinto energyIoT development.

In 2025, Willfar will continue to deepen itsfocus on “AI + Energy,” establishing new paradigmswhile expanding AI applications in edge computingand big data. The Company will also accelerate itsinternationalization strategy, leading industrystandard-setting efforts to contribute to globalenergy transitions and high-quality digital economydevelopment.

Deepening Indust-Academia-Research CollaborationHarnessing Innovative Resources

Willfar Information has established a provincial-level academician expert workstation, postdoctoralresearch station, and provincial engineering technologyresearch center. The Company collaborates deeply withleading domestic institutions, including TsinghuaUniversity, the National Supercomputing Center inChangsha, and the China Association of City Science,fostering resource sharing and complementarystrengths to jointly conduct technological research andproduct development.

Through its partnership with Tsinghua University,Willfar is enhancing the reliability of new power systemsby developing channel-less protection technologies,addressing critical industry challenges in faultdiagnosis. Collaboration with the NationalSupercomputing Center in Changsha provides access tohigh-performance computing resources andalgorithmic research capabilities, enabling theapplication of cutting-edge technologies acrossindustries. These initiatives strengthen Willfar’sinnovation ecosystem and support its leadership inNext-Gen Productivity.

Boosting TransparencyPaving the Way for Capital MarketAdvancement

In the pursuit of high-quality development in the capital markets,effective information disclosure and robust investor relations are vitallinks connecting Willfar to its investors. The Company remainscommitted to an Investor-Centric Approach, ensuring transparency,accessibility, and engagement through innovative disclosure practicesand multi-channel communication.

WillfarInformationTechnologyCo.,Ltd.Corporate Value and Return Enhancement Action Plan 2025loT Connects the World Chip Enables the Futrue

e 2023 peormance brieng, hosted onthe Shanghai Stock Exchange’s roadshowplatform and led by the Chairman withindependent directors in attendance, wasbroadcast across multiple platforms,reaching 10,000 viewers on the Company’sWeChat video channel alone.

In 2024, the Company organized

investorreceptiondaysRegular Investor Briengs:

1716

Information disclosure sees as a critical bridge between the Company and its investors,

forming the cornerstone of investor rights protection.

provide comprehensive and transparent information toinvestors. Additionally, the company proactivelypromoted volunta disclosure initiatives, promptlysharing information that is crucial for investors' valuejudgments and decision-making processes.

In 2024, the Company launched bilingual “One-Cha Insights” for its four quaerly repos, usingconcise, intuitive chas to highlight key nancial dataand business achievements. Additionally, Willfarproduced video explanations of its annual repo,featuring management team members to provide clear,accessible insights into key nancial and strategicpoints, enabling investors to obtain core information ina more direct and convenient manner.

Given the technical nature of Willfar’s indust, theCompany emphasizes plain language, chas, casestudies, and video explanations to eectively reducecognitive barriers for investors, helping investors graspits business development process, achievements, andstrategic vision.

A ComprehensiveOveiew

Innovating Disclosure Formats, Enhancing Information Delive

In 2024, Willfar adhered to the principles ofTruthfulAccurateCompleteTimelyFair

disclosure

publishing mandato announcements to

Beyond regulato requirements, the Companyproactively issued 14 volunta disclosures, includingmonthly contract bid-winning repos, bilingualversions of the "Corporate Value and ReturnEnhancement Action Plan ", and ESG repos, oeringmulti-dimensional insights into its operationalpeormance, social responsibility, and sustainabilityeos. While ensuring compliance, Willfar focused onenhancing the content and format of its disclosures,improving visual clarity, readability, and internationalappeal.

ese enriched disclosures were distributedthrough multiple channels, including the Company’swebsite, WeChat public account, WeChat video channel,and investor relations mini-program. Willfar alsoleveraged the Shanghai Stock Exchange’s “STAR Market3-Minute Insights into New-Quality Productive Forces”platform to share a visual interpretation of its 2023annual repo, and panered with Securities Times forthe “Exploring STAR Market Innovation, DecodingIndust Pioneers, A Tour of New-Quality ProductiveForces in Shanghai Stock Exchange” series, using vividlanguage to showcase its role in building new energysystems as a “neural network.” ese eos garnered32,760 views, demonstrating signicant engagement.

Since the inception of information disclosureassessments for the STAR Market, Willfar hasconsistently earned the highest A-level rating from theShanghai Stock Exchange for its disclosure quality,reecting its dedication and excellence.

In 2025, the Company will uphold high standards, continuously improving disclosure quality using AI tools toenrich visual presentations. Building on bilingual “One-Cha Insights” and ESG repos, Willfar will publish allWeChat public account content in dual languages and leverage AI to produce multi-lingual versions of its 2024annual repo video and 2024 peormance brieng video, catering to investors in dierent regions and expanding itsinuence in international capital markets.

ESG repo

WeChat Public

Account

Multi-Platform EngagementBuilding a Comprehensive Communication Network

Willfar prioritizes investor relationsmanagement, engaging investorsthrough diverse platforms and channelsto foster trust, deepen understanding,and promote mutual growth.

performancebrie?ngsandoveronlineando?ineresearchinteractionsattracting investment institutionsandprofessionals.

Beyond these, Willfar hosted thematicinvestor events, inviting paicipants to visitits facilities, engage with indust expesand management, and share feedback,enhancing investor recognition andsatisfaction.

WillfarInformationTechnologyCo.,Ltd.Corporate Value and Return Enhancement Action Plan 2025loT Connects the World Chip Enables the Futrue

In 2024, the Company organized

investorreceptiondaysRegular Investor Briengs:

1716

Information disclosure sees as a critical bridge between the Company and its investors,

forming the cornerstone of investor rights protection.

A Comprehensive

Oveiew

Innovating Disclosure Formats, Enhancing Information Delive

In 2024, Willfar adhered to the principles ofTruthfulAccurateCompleteTimelyFairdisclosurepublishing mandato announcements to

ESG repo

WeChat PublicAccount

Multi-Platform EngagementBuilding a Comprehensive Communication Network

Willfar prioritizes investor relationsmanagement, engaging investorsthrough diverse platforms and channelsto foster trust, deepen understanding,and promote mutual growth.

WillfarInformationTechnologyCo.,Ltd.Corporate Value and Return Enhancement Action Plan 2025loT Connects the World Chip Enables the Futrue

On March 19, 2024, the “STAR China – STAR 100 Index High-Quality DevelopmentResearch Tour,” co-hosted by Shanghai Securities News and Bosera Fund, visited Willfar.Management provided a comprehensive oveiew of the Company’s histo, core businesses,technological innovations, and indust layout, oering investors deeper insights into Willfar’scommitment to innovation and high-quality development.

Diverse InvestorRelationsInteractions

In 2024, Willfar added an “Investor Engagement” section toits WeChat public account, integrating its IR mini-program forreal-time announcement updates and research appointmentscheduling, oering investor quick, convenient access. eCompany paicipated in over strategy sessions organized by 40brokerages, receiving research repos from institutions, 5718with rated “Buy” and rated “Overweight,” eectively 2414communicating its value to the market.

1918

On May 20, 2024, Willfar hosted its 25th World Metrology Day exchange and investorreception, inviting indust expes to discuss the latest trends and innovations, whileshowcasing annual new products in areas like digital grids, communication chips, and smacities, strengthening investor understanding of the indust and Company.

On September 13, 2024, under the guidance of the Hunan Securities Regulato Bureauand Hunan Fund Indust Association, Willfar welcomed investors for an in-person “face-to-face” exchange—the rst of its kind among Hunan-listed companies—featuring paicipationfrom auditors, marking a signicant step in protecting investor rights through innovativepractices.

On December 19, 2024, the Company held its annual innovation summit and investorresearch event, inviting indust expes, scholars, and investors. During the event, thecompany established three innovation consoia focusing on new energy systems, sma gridinnovation, digital city simulation, and AI supercomputing. Willfar also unveiled 12 newproducts integrating Digital Twin, communication chips, and AI applications in digital grids andsma cities, engaging investors on green, low-carbon energy transitions and the Company’sfuture plans, reinforcing its commitment to high-quality development.

STAR China – STAR 100 IndexHigh-Quality DevelopmentResearch TourFace-to-Face Investor On-siteExchange EventAnnual New Product Launch andInvestor Exchange ConferenceAnnual Innovation Summit andInvestor Research Meeting

Timely Investor

Responses

Willfar leveraged platforms like the Shanghai StockExchange e-Interaction, JDM Finance, Panoramic Network, StockForum, and Xueqiu to promptly address investor inquiries,maintaining an average response time of within two businessdays.

International

Investor Relations

Willfar expanded its global capital market presence,enhancing engagement with overseas institutions. In 2024, theCompany paicipated in the “Listed Companies Roadshow inHong Kong” organized by the China Listed CompaniesAssociation, conducting four reverse roadshows in Hong Kongand hosting ve on-site visits by international investors. roughinternational brokerage channels, Willfar issued English researchrepos, providing deep insights into its indust and businesspotential. By year-end, foreign ownership of the Company’sshares increased by compared to the beginning of 2024, 106%reecting growing international engagement.

In 2025, Willfar will establish a capital market working group ledby the Chairman at the board level, enhancing routine investorcommunication by leveraging AI tools to build diversied and ecientcommunication channels.e Company will explore inviting investorsto visit overseas factories, establish mechanisms for consultinginvestors on major events, and respond promptly to investorconcerns, fostering a panership for shared growth and valuecreation.

WillfarInformationTechnologyCo.,Ltd.Corporate Value and Return Enhancement Action Plan 2025loT Connects the World Chip Enables the Futrue

Directors

Willfar will focus on modernizing governance capabilities, following apath of "safeguarding shareholder rights, innovating governancemechanisms, upgrading risk management, and deeply integrating ESG".ese eos will solidify the Company’s governance foundation,delivering long-term, sustainable value to investors.

2120

Strengthening Governance Foundations,Building a Robust Framework forHigh-Quality DevelopmentIn today’s complex business environment and stringentregulatory landscape, Willfar recognizes that exceptional corporategovernance is essential for sustainable development and enhancingmarket value. The Company is committed to improving governanceefficiency, implementing key initiatives to ensure steady progress andlay a strong foundation for investor returns.

safeguarding shareholder rights

innovating governancemechanisms

upgrading risk

management

deeply integrating ESG

Diversied Board StructureEnhancing Scientic Decision-Making

Willfar is dedicated to building a diversied and high-peorming board, comprising nine directors with over 20 yearsof expeise in their respective elds. e board includes threeindependent directors and two female directors, reectingdiversity in perspectives and gender, providing robustprofessional suppo for strategic decisions and operationalmanagement.In 2024, with a focus on regulato compliance, Willfar promptly revised and updated relevant policiesin response to policy changes, continuously improving internal management mechanisms, optimizinggovernance, and protecting the rights of minority shareholders.

In accordance with the corporate governance rules for listed companies issued by the ChinaSecurities Regulato Commission (CSRC) and the Shanghai Stock Exchange (SSE), theCompany held shareholder meetings and board meetings, passing resolutions. 4837Willfar updated and rened nine governance policies, including its Aicles of Association,External Guarantee Management Policy, and Related Pay Transaction ImplementationRules.And the Board of Directors/Shareholder Meeting also approved the <Accounting FirmSelection Policy> to standardize auditor appointments.As a constituent of the Shanghai Stock Exchange STAR 100 Index, Willfar implemented its <Market Value Management Policy>, approved by the board on Janua 14, 2025. ese eosearned the Company recognition as a 2024 Best Practice Case in Board Governance by the ChinaListed Companies Association.In 2025, with the new Company Law introducing requirements for employee directors, Willfarwill seize this oppounity to enhance its governance structure and eciency. e Company willproactively appoint directors representing employee interests with strong professionalqualications, develop tailored training programs to suppo their roles, and optimize decision-making processes to foster collaboration among directors. Leveraging this diverse boardstructure, Willfar will not only meet regulato requirements but also boost its marketcompetitiveness, creating greater value for shareholders, employees, and society.

WillfarInformationTechnologyCo.,Ltd.Corporate Value and Return Enhancement Action Plan 2025loT Connects the World Chip Enables the Futrue

Directors

2120

safeguarding shareholder rights

innovating governance

mechanisms

upgrading risk

management

deeply integrating ESG

Diversied Board StructureEnhancing Scientic Decision-Making

In 2024, with a focus on regulato compliance, Willfar promptly revised and updated relevant policiesin response to policy changes, continuously improving internal management mechanisms, optimizinggovernance, and protecting the rights of minority shareholders.In accordance with the corporate governance rules for listed companies issued by the ChinaSecurities Regulato Commission (CSRC) and the Shanghai Stock Exchange (SSE), theCompany held shareholder meetings and board meetings, passing resolutions. 4837Willfar updated and rened nine governance policies, including its Aicles of Association,External Guarantee Management Policy, and Related Pay Transaction ImplementationRules.And the Board of Directors/Shareholder Meeting also approved the <Accounting FirmSelection Policy> to standardize auditor appointments.As a constituent of the Shanghai Stock Exchange STAR 100 Index, Willfar implemented its <Market Value Management Policy>, approved by the board on Janua 14, 2025. ese eosearned the Company recognition as a 2024 Best Practice Case in Board Governance by the ChinaListed Companies Association.In 2025, with the new Company Law introducing requirements for employee directors, Willfarwill seize this oppounity to enhance its governance structure and eciency. e Company willproactively appoint directors representing employee interests with strong professionalqualications, develop tailored training programs to suppo their roles, and optimize decision-making processes to foster collaboration among directors. Leveraging this diverse boardstructure, Willfar will not only meet regulato requirements but also boost its marketcompetitiveness, creating greater value for shareholders, employees, and society.

WillfarInformationTechnologyCo.,Ltd.Corporate Value and Return Enhancement Action Plan 2025loT Connects the World Chip Enables the Futrue

Willfar recognizes the pivotal role of independent directors in corporategovernance, establishing a comprehensive framework to suppo theircontributions. In 2024, the Company introduced the <Independent Director WorkPolicy>, clearly dening their responsibilities, rights, and obligations to ensureeective oversight. Willfar also created dedicated communication channels,assigning professional liaisons to facilitate interactions between independentdirectors and internal teams, ensuring timely feedback and implementation oftheir insights. At the strategic level, the company actively involves independentdirectors in discussions and consultations on internationalization, developmentof new quality productive forces, and corporate governance.

Willfar is committed to green manufacturing and innovation, aligning with national calls for“New Quality Productive Forces”by deeply integrating ESG (Environmental, Social, andGovernance) into its strategy, products, operations, and value chain. Since 2021, the Company hasvoluntarily published annual social responsibility repos, transparently sharing its ESGachievements with stakeholders. In Februa 2024, Willfar released its 2023 ESG repo in bothChinese and English, demonstrating its commitment to accountability.

In 2024, internally, Willfar advanced green operations through intelligent manufacturing andthe development of low-carbon industrial parks, implementing facility and equipment upgrades toreduce energy consumption and increase clean energy usage, earning the title of “National GreenFacto.” Externally, the Company promoted green initiatives, suppoing national new energysystem development and the Belt and Road Initiative, enabling low-carbon management forindustrial parks, enterprises, industries, and cities while fullling its social responsibilities to createvalue for markets, industries, nations, and society.

Governance Achievements

2322

Empowered Independent DirectorsDriving Governance Excellence

Independent directors, with their deep expeise, play a critical role in majordecision-making processes. Professor Gu Qingyang from the National Universityof Singapore, a renowned economist, leverages his global perspective andinsights into economic trends to guide Willfar’s internationalization strategy.Professor Huang Shoudao from Hunan University, with decades of experience inelectrical engineering, provides precise technical guidance for the Company’senergy IoT business. Professor Yang Yan, an expe in nancial management andcorporate social responsibility, sees as Chair of the Audit Committee, deliveringcritical oversight in nancial auditing and risk management to ensure scal healthand compliance.

In 2025, Willfar will fuher optimize suppo for independent directors,enhancing collaboration with internal teams through at least four annualcommunication sessions. is will create a regular platform for informationsharing and joint eos, enabling independent directors to integrate cutting-edge academic insights and innovative thinking into decision-making, injectingfresh vitality into the Company’s development.

Embracing ESG PrinciplesPaving the Path to Sustainability

In 2025, Willfar will lead with innovation, enhancing ESG governance across multipledimensions to build core competitive advantages in sustainability, guiding the Company toward agreener, fairer, and more ecient future.

Consecutive Two-Year Highest A-Level Rating forInformation Disclosure by the SSEBest Practice of the Board of Directors by the CAPCOBest Practice of Earnings Presentation by the CAPCOBest Practice of the Board Oce by the CAPCOGolden Bull Award - Golden Disclosure Award by ChinaSecurities JournalAnnual Top Growth Enterprises among China A-ShareListed Companies in 2024Top 30 Valued Companies on the STAR Markete Best Listed Companies of 2024 by NewFoune Magazine

Green Environmental AchievementsNational-Leve “Green Facto”National-Level Green Supply Chain ManagementEnterpriseDirector Unit of Hunan Green ManufacturingIndust Federation

Social Responsibility AchievementsNational Model Enterprise for Harmonious Labor RelationTop 50 Employers in Job Absorption for 2023Class A Unit in Labor Protection, Law Compliance, and Integrity in 2023A-level Tax Credit Enterprise for 19 consecutive yearsTop 100 High-Tech Enterprises in Hunan Province in Tax Contribution in 2023Top 100 Private Enterprises in Hunan Province in Tax Contribution for 2023Top 50 “Specialized, Rened, Unique, and Innovative” Small and Medium-SizedEnterprises in Hunan Province in Tax Contribution for 2023 Top 100 Taxpaying Enterprises in Xiangjiang New Area, Hunan Province in 2024Top 100 Taxpaying Enterprises in Xiangjiang New Area, Hunan Province in 2023

ESG Management Achievements

Wind ESG Rating "A" LevelHuazheng ESG Rating "A" LevelSelected into the“ ESG Best Practice Cases of ListedCompanies” by the China Association for PublicCompanies (CAPCO)Cailian Press“ Best ESG Award”Top 100 A-Share Listed Companies with the Best ESGRating Improvement by Huazheng in 2024Best ESG Practice by New Foune Magazine in 2024ESG Golden Dawn Award for Best ESG Practice Enterprisesby China Securities Market Weekly in 2024

WillfarInformationTechnologyCo.,Ltd.Corporate Value and Return Enhancement Action Plan 2025loT Connects the World Chip Enables the Futrue

“Xinhua Credit Jinlan Cup” Excellent Cases onCarbon Peak and Carbon Neutrality

In 2025, Willfar will rene its market-oriented compensation andpeormance evaluation system, fuher linking managementremuneration to overall company peormance. By enhancingpeormance assessments, aligning strategic planning, budgeting,and evaluation, and dynamically adjusting resource allocation basedon results, the Company will energize its organization, ensuringmanagement and corporate peormance are in sync, driving high-quality development.

2524

Reinforcing Core LeadershipEstablishing a Path to Compliant andSteady DevelopmentWillfar recognizes that “Core Leadership”—keyexecutives and decision-makers—plays a vital role in drivinghigh-quality development and maximizing shareholdervalue. In 2024, the Company implemented a series ofmeasures to align the interests of management, theCompany, and shareholders, including employee stockownership plans, dynamic compensation adjustments, anddiversified training programs. These initiatives enhance thegovernance capabilities of directors, supervisors, and seniormanagement, ensuring steady, sustainable growth.

Employee Stock Ownership Boosting IncentivesDriving Mutual Prosperity

In 2024, Willfar launchedits rst employee stockownership plan, oering4 million shares to134 core employees,who fully subscribed with

77.68 million yuan.

e plan includes a three-year lock-up period, withshares unlocking in threetranches (40%, 30%,

and 30%), tied toindividual peormancemetrics to balanceincentives andaccountability.

is initiative strengthensemployees’ sense ofownership and alignstheir interests with thoseof shareholders and theCompany.

WillfarInformationTechnologyCo.,Ltd.Corporate Value and Return Enhancement Action Plan 2025loT Connects the World Chip Enables the Futrue

2524

Employee Stock Ownership Boosting IncentivesDriving Mutual Prosperity

In 2024, Willfar launchedits rst employee stockownership plan, oering

4 million shares to134 core employees,

who fully subscribed with

77.68 million yuan.

e plan includes a three-year lock-up period, withshares unlocking in threetranches (40%, 30%,and 30%), tied toindividual peormancemetrics to balanceincentives andaccountability.

is initiative strengthensemployees’ sense ofownership and alignstheir interests with thoseof shareholders and theCompany.

WillfarInformationTechnologyCo.,Ltd.Corporate Value and Return Enhancement Action Plan 2025loT Connects the World Chip Enables the Futrue

Willfar understands the critical role of Core Leadership ingovernance, providing systematic training and policy updates toelevate compliance awareness and peormance.

Staying Ahead of Regulato DynamicsEnhancing Core Leadership Capabilities

In 2024, the Company leveraged resources from the CSRC,Shanghai Stock Exchange, Pujiang Lecture Hall, China ListedCompanies Association, and Capital Market College, organizing 26training sessions for controlling shareholders, directors,supeisors, and senior management, covering comprehensivecompliance knowledge to ensure alignment with the latestregulations, enhance risk management, and improve governanceskills.

For specic areas like ESG, M&A, sentiment management,nancial repoing, information disclosure, investor relations roles,and corporate bonds or asset securitization, Willfar arrangedtargeted training for responsible depaments through theShanghai Stock Exchange, China Listed Companies Association,and Hunan Listed Companies Association, boosting overallcompliance and professional expeise.

To keep pace with regulato updates, Willfar established aquaerly monitoring mechanism for new regulations, compilingand interpreting the latest capital market rules, market trends, andcase studies for distribution to Core Leadership.

In 2025, Willfar will maintain its “rst to know,rst to interpret” approach, establishing anecient policy interpretation and disseminationsystem. e Company plans to issue at least fourquaerly regulato updates and host at least twoin-person compliance training sessions withaccounting rms, law rms

and other professional institutions, tailoringcontent to Willfar’s needs. ese eos will helpmanagement stay ahead of policy trends, navigatemarket shifts, and meet CSRC requirements forenhanced regulato enforcement and investorprotection.

loT Connects the World Chip Enables the Futrue

Stock Code:688100

Willfar Information Technology Co., Ltd.

Web：https://www.willfar.com/Tel：0731-88619798Add：No.468 Wasion Science & Technology Park, West Tongzipo Road,High-Tech Development Zone, Changsha, Hunan, P.R.China

Willfar Information Technology Co., Ltd

Corporate Value and Return EnhancementAction Plan 2025

最新公告

股市要闻