Notes on the ReportAbout AutowellMateriality AssessmentSustainable Development Governance ArrangementsEnvironmentSocietyGovernanceESG Data TableBenchmarking Index Table

Safeguarding Employee Rights and InterestsOccupational Health and SafetyProducts and ServicesInnovation-Driven DevelopmentWin-win CooperationSocial Contributions

Climate Change ResponseEnvironmental Compliance ManagementDischarge of Wastewater, Waste Gases, and Solid WasteEnergy UtilizationWater Resource UtilizationCircular EconomyGreen OperationsBiodiversity Conservation

TABLE OFCONTENTS

Corporate GovernanceInternal Control and Risk ManagementCompliant Operations and Tax ManagementAnti-commercial BriberyAnti-Unfair Competition

Notes on the ReportMessage from AutowellAbout AutowellMateriality AssessmentSustainable DevelopmentGovernance Arrangements

ESG Data TableBenchmarking Index Table

Appendix

EnvironmentSociety

Governance

Notes on the Report

Reporting Period

This report covers a period from January 1,2024, to December 31, 2024. Certain state-ments may be beyond the aforesaid periodto ensure the comparability of the Report.

Report ReleaseThis is the second Environmental, Socialand Governance (ESG) report released byWuxi Autowell Technology Co., Ltd.

Organizational BoundaryThis report centers on Autowell. Unlessotherwise speci?ed, the scope of the Re-port is consistent with that of the Com-pany’s annual report.

Principles for PreparationThis Report is prepared pursuant to theRules Governing the Listing of Stocks on the STAR Market of the Shanghai Stock Exchange, theGuidelines No. 1 ofthe STAR Market of Shanghai Stock Exchange for Self-regulation of Listed Companies—Standardized Operation, the Guidelines No. 14 of Shanghai Stock Ex-change for Self-Regulation of Listed Companies—Sustainability Report (Trial), theGuidelines No. 13 of Shanghai Stock Exchange for Self-Regulation of ListedCompanies—Sustainability Report Preparation, theGuidelines on Sustainability Reporting for Chinese Enterprises (CASS-ESG 6.0 General Framework)issuedby the China Academy of Social Sciences (CASS), and theUnited Nations'Sustainable Development Goals (SDGs).

Notes on the ReportAbout AutowellMateriality AssessmentSustainable Development Governance ArrangementsEnvironmentSocietyGovernanceESG Data TableBenchmarking Index Table

Terminology & References

For ease of reading, the following terms and references are used in this report:

Information SourcesAll qualitative and quantitative information in this Report is sourced from Autowell’s public information, internal documentation, and relevant statistical data.

AbbreviationFull nameATW, the Company, our company, weWuxi Autowell Technology Co., Ltd

ATW Intelligent Equipment Wuxi Autowell Technology Co., Ltd，Wuxi Autowell Intelligent Equipment Co., Ltd., a holding subsidiary of the Company

ATW Supply ChainWuxi Autowell Supply Chain Management Co., Ltd., a wholly-owned subsidiary of the CompanySCECWuxi Songci Electromechanical Co., Ltd., a holding subsidiary of the CompanyATW CoshinWuxi Autowell Coshin Semiconductor Technology Co., Ltd., a holding subsidiary of the CompanyATW XuRiWuxi Autowell XuRi Technology Co., Ltd., a holding subsidiary of the Company

Leddo TechnologyWuxi Leddo Technology Co., Ltd., a holding subsidiary of the CompanyZhiyuan EquipmentWuxi Autowell Zhiyuan Equipment Co., Ltd., a holding subsidiary of the CompanyATW JiexinWuxi Autowell Jiexin Technology Co., Ltd., a holding subsidiary of the CompanyPolar PVPolar Photovoltaics (Bengbu) Co., Ltd., a wholly-owned subsidiary of the CompanyWuxi PolarWuxi Polar Photovoltaics Co., Ltd., a holding subsidiary of the CompanyQinhuangdao ZhiyuanQinhuangdao Autowell Zhiyuan Equipment Co., Ltd., a second-tier subsidiary controlled by the Company

AUTOWELL JapanAUTOWELL Japan Co., Ltd., a wholly-owned subsidiary of the CompanyAutowell SingaporeAutowell (Singapore) PTE. LTD., a wholly-owned subsidiary of the CompanyAUTOWELL MalaysiaAUTOWELL (MALAYSIA) SDN. BHD., a second-tier subsidiary controlled by the Company

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Against the backdrop of profound shifts in the global economic landscape, Autowell, as a lead-ing enterprise in the intelligent equipment sector for photovoltaics, lithium-ion batteries, andsemiconductors, remains committed to the philosophy of “innovation-driven and green devel-opment”. We have integrated sustainable development into our corporate strategy and dailyoperations. In 2024, we deepened our e?orts in Environmental, Social, and Governance (ESG)areas, striving to achieve a synergy between economic bene?ts and social value.Staying committed to innovation-driven development and ful?llingthe mission of green developmentAmid the cyclical adjustments of the new energy sector in 2024, we upheld our mission of “BuildSmart Factory with New Technologies, Drive Global Intelligent Manufacturing”. With innova-tion-driven development in mind, we remained focused on the solar energy and broader newenergy industries, and actively promoted green industrial upgrades. By the end of December2024, products manufactured through our equipment had collectively reduced approximately993 million tons of carbon emissions. Over the year, our comprehensive energy consumption sig-ni?cantly decreased by 28% compared to 2023, further accelerating the adoption of green energyworldwide.Meanwhile, we focus on breakthroughs in core technologies in key ?elds, launching cutting-edgetechnology and products, such as ultra-high-speed 0BB stringer equipment and crystal growthfurnaces for semiconductor silicon parts, injecting fresh momentum into the industry’s sus-tainable development. We are dedicated to low-carbon transition, extensively promoting theadoption of renewable energy, advancing R&D on energy-saving technologies, and optimizingenvironmental management systems in both our production and o?ce operations. By imple-menting product carbon footprint accounting, we have continuously optimized carbon emissionsthroughout the product lifecycle, embedding low-carbon development philosophies into pro-duction practices and achieving a balance between economic gains and environmental bene?ts.Collaborating with our partners to build a green industrial ecosys-tem

As a true follower of sustainable development, we adhere to the principle of “progressingtogether with clients and growing alongside suppliers”, and have incorporated green develop-ment philosophies into the entire value chain. By establishing transparent communication mech-anisms and strict responsible procurement standards, we have empowered suppliers to enhancetheir sustainability performance, and jointly developed low-carbon, intelligent solutions together

with our clients. Looking ahead, we will continue to uphold our corporate responsibility, forgingstrong partnerships across the ecosystem to jointly build a sustainable and low-carbon industrialchain.Actively engaging the public and enhancing our corporate gover-nance transparencyWe remain committed to an “open, transparent, and honest” approach to investor commu-nication, ensuring equal access to information for all investors. Through various initiatives suchas performance briefings and investor open days, we have provided a platform for in-depthexchanges between investors and our management. In addition, we have utilized multiplechannels, including our o?cial website, WeChat o?cial account, and WeChat Channels, to shareupdates on our operations, R&D progress, and products through engaging formats such as visualinfographics and animated short videos. This helps investors gain a comprehensive understand-ing of us while further enhancing our corporate governance transparency. Furthermore, wehave integrated ESG risk management into strategic decision-making and established a three-line defense risk management system led by the Board of Directors. This framework ensures thee?ective implementation of risk management requirements, strengthens corporate responsibilityas our development basis, and reinforces our competitive edge.Embracing a people-centered approach and commitment to socialresponsibilityWe uphold a people-centered approach and commitment to social responsibility as our corevalue. We have established a long-term incentive mechanism and placed great emphasis on em-ployee development, aligning individual growth with our progress. Employee well-being remainsour top priority, and we continuously optimize benefits and welfare policies to enhance theirsense of belonging. We have also provided both ?nancial and emotional support to employeesfacing major illnesses, accidents, or other hardships.Going forward, we will continue to pursue our mission of “Build Smart Factory with New Tech-nologies, Drive Global Intelligent Manufacturing”. Together with our partners, we will drivehigh-quality growth in the new energy sector. We ?rmly believe that only through sustainabledevelopment can we create long-term value and achieve win-win outcomes for both businessesand society.28%

million tonsthe decrease of our annualcomprehensive energy con-sumption compared to 2023

the accumulative reduction ofcarbon emissions from manu-factured products by the end of2024

A LetterfromAutowell

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Message from Autowell

9.19814.029

1.2734.05

Company Pro?le

Basic company informationAutowell Technology Co., Ltd. (Stock Code:

688516), founded in 2010, is a leading enterprisein China’s high-end intelligent equipment sector,with a workforce exceeding 4,000 employees. Re-nowned for its technological innovation prowess,the Company has been recognized with multiplehonors, including Jiangsu Province’s Small GiantEnterprise of Science and Technology, Poten-tial Unicorn Enterprise in the Southern JiangsuIndependent Innovation Demonstration Zone,and Wuxi Quasi-Unicorn Enterprise. Today, westand as a highly in?uential provider of intelligentequipment solutions in the photovoltaic (PV)new energy, lithium battery energy storage, andsemiconductor industries.Through group-based strategy deployment, wehave established a diversified business ecosys-tem, holding specialized subsidiaries such asATW Intelligent Equipment , SCEC, ATW XuRi,ATW Coshin, Leddo Technology, and ZhiyuanEquipment. This has enabled the formation of acomprehensive intelligent equipment portfoliocovering critical segments of the industrial val-ue chain. In the PV sector, our product portfoliospans the four key manufacturing stages: rod, wa-fer, cell, and module production. Our competitiveproducts, including multi-busbar (MBB) stringersand wafer inspection systems, have consistently

maintained a market-leading position due totheir cutting-edge technology and have beenhighly recognized by top-tier industry consum-ers.With a forward-looking approach to the newenergy industry, we have successfully devel-oped modules/PACK intelligent productionlines, achieving stable and large-scale deliver-ies to mainstream manufacturers. Additionally,we have actively expanded into the semicon-ductor equipment market. Since the launch ofour wire bonder serving the semi-conductorindustry in 2021, we have rapidly gained mar-ket traction and secured mass output orders.Looking ahead, we remain committed to ourstrategy of being driven by both intelligentequipment and industry solutions. By continu-ously strengthening technological innovation,we aim to enhance creativity across the indus-trial chain and provide high-end, intelligent,and integrated equipment solutions to globalclients, contributing to the high-quality devel-opment of the industry.

Chinese NameEnglish NameDate of IPOStock Exchange & Board

无锡奥特维科技股份有限公司

Operating Revenue

billion

billion RMB

RMBRMBbillion

RMB/share

Total AassetsNet Pro?t attributable to Shareholdersof the Listed Company

Earnings per share(EPS)

Wuxi Autowell Technology Co.,Ltd.May 21, 2020STAR Market

Key Performance Indicators for 2024

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Our Culture

Wherever there is a factory,there is ATW’s intelligent man-ufacturing system.VisionMissionValues

Build Smart Factory with NewTechnologies, Drive Global Intelli-gent Manufacturing.

Competitive Innovation & LeadingTechnology; Superior Quality; Effi-cient Services; Valuable Trust.0405

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Laser CutterWafer Cleaning System

ESS Module/PACK As-sembly LineContainer-type EnergyStorage System Assem-bly Line

Soft Solder Die BonderEpoxy Die Bonder

Prismatic Cell EES Module/PACKAssembly LinePrismatic Cell EV Module/PACKAssembly Line

Aluminum Wire BonderHybrid Bonder

Cylindrical Cells Module/PACK Assembly LinePouch Module/PACKAssembly Line

Dicing

EnergyStorage

AOI Inspec-

tion

Pouch Cells

WireBonding

Cylindrical

Cells

Die Bond-ing

Prismatic

Cells

SemiconductorbusinessCovering fourmajor sectors of thepackaging & testingin the semiconductor

industry

Lithium battery

businessModule & Pack &Container Automatic

Assembly LineFull-stack solutions

Crystal Growth Sys-temAutomatic CrystalGrowth Furnace

PV Cell Screen Printing LinePV Cell Light-induced AnnealingFurnacePassivation FurnaceIntelligent PV Cell Packaging andLogistics SystemLEM Equipment

MBB PV Cell Soldering StringerLaser CutterAuto Bussing MachineLayup MachineHigh-speed Bonding SystemJunction Box Welding StationPV Module Laminator

Wafer Inspection Sys-temLaser Marking/CodeReading SystemWafer Packaging Equip-mentWafer Automation PackLine

WaferModuleCell

Our Business

As a renowned intelligent equipment manufacturer in the PV, lithium battery and semiconductor sectors, ATW’s product portfolio serves the four major segments of the PV industrychain: rod, wafer, cell and module. Our ?agship products, the MBB soldering stringers and wafer inspection system, stand out for their strong competitiveness, earning widespreadindustry recognition and achieving a high market share. We have independently developed the lithium battery module/ intelligent PACK production line, winning repeat orders fromwell-known enterprises in the industry. In addition, our self-developed wire bonder, o?cially launched in 2021, has seen repeat orders. Meanwhile, we have continued to expand oth-er product development in the packaging and testing sectors of the semiconductor industry.

PV businessCovering four majorsectors of the PV

industrial chain

Rod

Hybrid AOI Machine

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Our History2010

2018

2012

2019

2013

2020

2014

2021

2015

2022

2016

2023

2017

2024

ATW was founded

Launched the bonderproject, entering thesemiconductor indus-try

Developed the PV cellsoldering stringer,marking the start of thePV era

Conducted re-search on bonderwelding technolo-gy and assembledthe ?rst set ofprototypes

Public debut of the PVstringer

Listed on theSTAR Market

Sales hit RMB 200 mil-lion

? Acquired a con-trolling stake inSCEC? Received the ?rstbatch of orders foraluminum wirebonders

Recognized as a nationalhigh-tech enterprise forthe ?rst time and beganto develop overseas busi-ness

Established theAutowell SmartFactory

Merged and acquiredATW Intelligent, markingentry into the lithium-ionbattery equipment sec-tor

? Successfullyhosted SCEC’snew-generationcrystal growthsystem launchevent

? Completedconstruction andput into use thephase II work-shop building onXinhua Road

Successfully brokethe import monopolyon wafer inspectionsystems

AUTOWELL (MALAYSIA) SDN.BHD. was established andwill o?cially start productionin 2025, Malaysia factory willbecome the ?rst overseasproduction baseunder the company.

0607

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Milestones in 2024

Best Capital MarketCommunication

Award

Public Welfare CaringEnterprise Award

Top 100 TaxpayingEnterprises inWuxi (2023)

S?o-Securities Index InformationService (S?ng?i) ?, Ltd’s 2023Enviro?ental, Social, and CorporateGovernance (ESG) Comprehe?ive

Rat?g: BBB

First Prize of 2024 Scienceand Technology AwardRecognized by the Jiangsu

Mechanical EngineeringSociety

Drafting Organization forthe Photovoltaic Wafer

SlicingMachine Association

Standard

Outstanding Supporterat the 15th China (Wuxi)International NewEnergy Conference and

Exhibition

Outstanding Enterprisein Wuxi’s 465 Modern

Industry ClusterDevelopment Plan

Enterprise with

OutstandingHarmonious LaborRelations in Wuxi

Most ValuableSTAR Market Listed

Company

China ListedCompanyYinghua Award

Wuxi Labor Day Award

Best CapitalOperations Award

First “Light ofCharity” CaringEnterprise Award

Most Promising NewEnergy Listed Companyin the Listed CompanyReputation Rankings

Outstanding CaringEnterprise forEducation Support

Top 30 Most ValuableSTAR Market ListedCompanies at the 18th

Annual Ranking

Social responsibili

tyGovernance responsibility

Industry

Capital market

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Materiality Assessment

Double MaterialityAnalysis

StakeholderCommunicationDuring the preparation of this report, the Companyreferred tothe Guidelines No. 14 of Shanghai StockExchange for Self-Regulation of Listed Companies—Sus-tainability Report (Trial) (hereinafter referred to as theSustainability Reporting Guidelines) and the GuidelinesNo. 13 of Shanghai Stock Exchange for Self-Regulationof Listed Companies—Sustainability Report Preparation.Additionally, we considered the characteristics of our in-dustry, actual business operations, and business modelto identify other signi?cant issues. Ultimately, we identi-?ed 28 potential ESG-related issues.For the materiality assessment, we adopted a doublemateriality evaluation framework, aligning with ourstrategic development direction and key concerns ofinternal and external stakeholders: Frist, we assessedthe potential economic, social, and environmental im-pacts of each issue based on stakeholder survey results(Impact Materiality); Second, we evaluated the risks andopportunities each issue may present to our value cre-ation through discussions with internal managementand external experts (Financial Materiality).

2024 marks the second year of Autowell’s ESG reportpreparation. In selecting relevant issues for this year,first, we conducted an in-depth analysis of global andregional sustainability trends, policy and regulatory de-velopments, and local challenges, including local guide-lines, industry standards, and regulatory requirements.Second, we reviewed the latest ESG issue lists andweight allocation from domestic and international ESGrating agencies for the PV equipment sector, and alsobenchmarked ESG report themes of industry peers toensure science-based rigor and industry relevance in ourissue identi?cation. Last, we incorporated insights fromstakeholder interviews conducted last year, feedbackgathered this year, and our internal management statusto thoroughly discuss and prioritize material issues.Through this research and communication process,we continue to enhance the practical implementationof ESG management, striving to better integrate stake-holder expectations into daily operations and deci-sion-making. This ongoing effort aims to improve ourESG management capabilities, create long-term valuefor all stakeholders, and establish a solid foundation forour sustainable development.0809

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Stakeholders

EmployeesClientsSuppliers

Shareholdersand Investors

GovernmentRegulatorsMediaCommunity

Expectations and demands

? Compliantprotectionof rights andinterests? Well-struc-tured com-pensationsystem? E?ectivepromotionmechanism

? Product Quality? Client Service? Business Ethics

? Supplier manage-ment? SustainableSupply ChainDevelopment? Business ethics

? Return on invest-

ment? Protection ofshareholderrights and inter-ests? Corporate gover-nance? Investor relations

? Complianceoperations? Tax contribu-tions in accor-dance with law? Job creation? Social contribu-tions

? Compliantoperations? Adherenceto regulatoryrequirements? Alignment withdevelopmentpolicies

? Economic per-formance? Compliant

operations? Development

strategy? Labor and

human rights? Environmental

and energy

management? Social responsi-

bility

? Talent em-ployment? Public welfareactivities? Communityservices? Environmen-tal and energymanagement

Engagementand responses

? Grievancemechanism? Employeeactivities? Training pro-grams? Compensa-tion system? Promotionmechanism

? Commitment toQuality? Quality Man-agement &Inspection? ResponsibleMarketing? Rapid Response? Regular Mainte-nance? Client visits? ComplaintReporting

? Technical ex-changes? Supplier visits? ESG training for

suppliers? Supplier manage-ment system? Supplier Integrity? Supplier confer-ences

? Disclosure rating? Earnings brief-ings? Sharehold-ers'meetings? Promotionalroadshows

? Governmentforums? Receiving gov-ernment visits? Communitycommunication

? Disclosures? Submissionof regulatorydocuments? Learning thelatest policiesand regulations

? O?cial website? WeChat o?cialaccount? Media brie?ngs? Press confer-ences

? O?cial web-site? WeChat o?-cial account? Communityactivities? Volunteeractivities

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Conclusion of Materiality Assessment

In 2024, based on standard benchmarking, policy analysis and peer bench-marking, the Company identi?ed a total of

issues based on the ESG issuescon?rmed in 2023, including

environmental issues,

social issues and

governance issues.Issues in 2023Issues in 2024ChangeReasons for ChangeAddressing climate change andcarbon emissions

Climate change re-sponse

Issue adjustedPartial modi?cation of the issuePollutant managementPollutant emissionsIssue adjustedPartial modi?cation of the issueWaste and hazardous substancesmanagement

Waste disposalIssue adjustedPartial modi?cation of the issueTraining on environmental pro-tection

Environmental compli-

ance management

Issue adjustedPartial modi?cation of the issueClean energy consumptionEnergy utilizationIssue adjustedAligned with SSE

Guide’s 21 issuesWater resource consumption andmanagement

Water resource utiliza-tion

Issue adjustedAligned with SSE Guide

’s 21 issuesCircular economyNew additionAligned with SSE Guide

’s 21 issuesGreen design

Green and low-carbonoperations

Issue adjustedPartial modi?cation of the issueGreen productsBiodiversity protectionClean production

Opportunities in cleantechnology innovation

Issue adjustedPartial modi?cation of the issueNoise managementNoise managementIssue adjustedPartial modi?cation of the issueProduct quality

Product safety andquality

Issue adjustedPartial modi?cation of the issueWork safety

Issues in 2023Issues in 2024ChangeReasons for ChangeImproving client serviceClient serviceR&D innovationInnovation-driven developmentIssue adjustedPartial modi?cation of the issueIntellectual property protectionIntellectual property protectionGreen procurement and green supplychain

Supply chain management andsustainable procurement

Issue adjustedPartial modi?cation of the issueEmployee compensation and bene?ts

Employee rights and interestsIssue adjustedPartial modi?cation of the issueAnti-discrimination and diversity man-agementProtecting employee health and privacyOccupational health and safetyIssue adjustedPartial modi?cation of the issueEmployee development and training

Employee training and develop-

ment

Information security and privacy protec-tion

Information security and privacyprotection

Industry-university-research cooperation

Contributions to industry devel-opment

Issue adjustedPartial modi?cation of the issueCommunity contribution and publicwelfare activities

Social contributionsIssue adjustedPartial modi?cation of the issueIntelligent development and digitalupgrading

Digital and intelligent develop-

ment

Issue adjustedPartial modi?cation of the issueCon?ict mineralsNew additionPartial modi?cation of the issueESG governance

Corporate governanceIssue adjustedPartial modi?cation of the issueRisk management and internal controlAnti-corruption and anti-bribery

Business ethics and anti-corrup-

tion

Issue adjustedPartial modi?cation of the issueCompliant operationsCompliant operationsShareholders and equity

Protection of investor rights andinterests

Issue adjustedPartial modi?cation of the issueSustainable pro?tability

Economic performance andmarket competitiveness

Issue adjustedPartial modi?cation of the issue

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Climate change responsePollutant emissionsWaste disposalEnvironmental compli-ance managementEnergy utilizationWater resource utilizationCircular economyGreen and low-carbonoperationsClean technology oppor-tunitiesNoise management

??????????

?????????????

?????

Product safety and qualityClient serviceInnovation-driven developmentIntellectual Property ProtectionSupply chain management andsustainable procurementEmployee rights and interestsOccupational health and safetyEmployee training and develop-mentInformation security and privacyprotectionContributions to industry devel-opmentSocial contributionsDigital and intelligent develop-mentCon?ict minerals

Corporate governanceBusiness ethics andanti-corruptionCompliant operationsProtection of investorrights and interestsEconomic performanceand market competitive-ness

Environmental issuesSocial issuesGovernance issuesAutowell’s material ESG issues for 2024

Business ethics and anti-corruptionEconomic performance and market competitivenessProtection of investor rights and interests

Green and low-carbon operations

Client serviceIntellectual Property Protection

Occupational health and safety

Corporate governance

Employee rights and interests

Innovation-driven developmentSupply chain management and sustainable procurement

Information security and privacy protectionProduct safety and qualityCompliant operations

Circular economyWater resource utilization

Contributions to industry developmentClimate change responsePollutant emissionsEnvironmental compliance managementSocial contributionsWaste disposal

Clean technology opportunities

Con?ict mineralsEnergy utilization

Employee training and developmentDigital and intelligent developmentNoise management

Issues withimpact sig-ni?cance butno ?nancialsigni?canceIssues withneither?nancialnor impactsigni?cance

Issueswith both?nancialand impactsigni?canceIssues with?nancialsigni?cancebut no impactsigni?cance

Signi?cance to economic, social, and environmental impacts

Financial signi?cance to Autowell1212

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Sustainable Development Governance ArrangementsSustainableDevelopmentGovernance StructureThe Company continuously enhances its sustainabledevelopment governance framework, and has estab-lished a well-structured system that integrates deci-sion-making, management layers, as well as compre-hensive sustainability governance system. The Boardof Directors serves as the supreme decision-makingbody, under which the Strategy and ESG Committeeis responsible for supervising ESG strategies andgoals, while the Audit Committee participates in de-cision-making on key ESG issues. The General Man-agement O?ce is in charge of overall coordinations,with clearly de?ned responsibilities across functionaldepartments. The ESG Working Group, under theGeneral Management Department, is responsible forexecution, and each subsidiary is tasked with imple-menting speci?c initiatives.

Decision-Mak-ing Level

Management

Implementation

Supreme Deci-sion-Making BodyBoard of Directors

Strategy and ESG Com-

mittee

General Management

o?ceSubsidiariesLegal Depart-ment

ESG WorkingGroup

? Responsible for the overall planning and coordination of ESG matters.? Oversees and reviews the Company’s ESG strategy, goals, and annual work plans.?Reports ESG execution outcomes and major plans to the Board of Directors.The Audit Committee participates in the review and decision-making processes related to ESGmatters, including climate change response and health and safety assurance.

?Responsible for the overall coordination and implementation of ESG-related initiatives.

Heads of the General Management Department, and ESG-related functions ineach subsidiaryThe environmental, safety and health specialist is in charge of the Company’s responsibilities and externalrelationsThe Securities Investment Department is responsible for the Company’s governance matters.

?Responsible for the execution and implementation of speci?c ESG issues.

General Manage-

ment Depart-ment

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Sustainable Development-Related Information Reporting

Sustainable DevelopmentOversight and AssessmentMechanism

The Company has established a robust information reporting mechanism, reg-ularly publishing ESG Reports, and Quality Enhancement, E?ciency Improve-ment, and Return Prioritization Reports to comprehensively disclose progressand achievements in sustainable development.The ESG Report outlines our strategic goals, implementation measures, andperformance in ESG areas, addressing stakeholders'concerns about sustain-ability. The Quality Enhancement, E?ciency Improvement, and Return Prioriti-zation Report focuses on areas such as improving operational e?ciency, valuecreation, and shareholder returns, showcasing the Company’s commitmentsand practices in high-quality development.The two types of reports complement each other, reflecting both our long-term sustainability planning and our emphasis on and balanced approach tostakeholder interests, including shareholders, employees, clients, and society.Through transparent and systematic disclosures, we strengthen communica-tion and trust with our stakeholders, laying a solid foundation for achieving oursustainability goals.

In daily operations, the Company has established a comprehensive risk iden-tification and response process, implementing effective measures to achievee?ective risk control. The dedicated risk management department leads qual-itative and quantitative evaluations of the risks from the general list based ontheir likelihood and impact. The Board of Directors provides comprehensiveoversight of the Company’s sustainability-related impacts, risks, and opportu-nities by approving strategies, setting goals, monitoring execution, reviewingperformance, and ensuring transparent communication. This helps us achieve abalance between economic bene?ts and social value.

Supervision and Assessment MechanismKey MeasuresDescription Information Collection

Each subsidiary gathers, selects, and reports original internal and external risk-related informa-tion.RiskIdenti?cation

The dedicated risk management department leads the e?orts in identifying various operationaland managerial risks by conducting surveys, interviews, process analyses, and managementbenchmarking, eventually developing a general risk list.Risk Assessment

The dedicated risk management department organizes efforts in conducting qualitative andquantitative assessments of the identi?ed risks based on their likelihood and impact. Risks areclassi?ed into four levels: signi?cant, high, medium, and low, forming a risk map to prioritize keyrisks requiring attention and control.

RiskManagementStrategies

The dedicated risk management department leads the e?orts in formulating di?erentiatedmanagement strategies for various risks, implementing mitigation measures such as riskavoidance and risk control to e?ectively manage risks.

Signi?cant/High risks: We typically adopt a risk portfolio strategy, which includes riskavoidance, risk transfer, and risk control. Preventive measures are taken at the sourceto reduce both the likelihood and impact of risks;

Medium risks: For risks which are less likely to occur but have large impacts, we pri-

marily adopt risk transfer measures, such as insurance, subcontracting, and outsourc-ing; For risks which are very likely to occur but have small impacts, we mainly employrisk control measures, such as strengthening internal control processes;

Low risks: We generally implement risk acceptance or assumption, minimizing redun-dant control measures to optimize management costs.

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Core Competitiveness RisksOperational RisksRisk of mismatch

between R&Ddeployment anddownstream indus-

try trends

Risk of failure in R&D or resultcommercialization

Risk of loss of keypersonnel and tech-nical con?dentiality

Risk of technology infringe-

ment

Risk of adverse changes inmajor clients

Risk of failure in our businessdecision-making

Contract executionriskThe rapid techno-logical iteration inthe downstreamindustries requiressubstantial re-source investmentto study relevantprocesses andmarkets. If ourR&D deploymentdoes not align withdownstream indus-try trends, it maylead to issues suchas wasted R&Dresources, missedopportunities, oreven the loss ofmarket position inspeci?c segments,thereby a?ectingour competitive-ness and long-termpro?tability.

We place great importance onR&D and innovation. In 2024, wecontinued to increase our R&Dinvestment, which has playeda crucial role in enhancing theperformance of our existingproducts and developing newones. However, there is a risk offailure in R&D or result commer-cialization.Moving forward, we will contin-ue to make signi?cant invest-ments in the R&D of innovativetechnologies. Should we facea high number of R&D failuresor fail to successfully commer-cialize our R&D results due tofactors such as technologicalchallenges, economic feasibility,or shifts in market demand, itcould result in additional costsfor the current period, impactingour pro?tability. Furthermore,such outcomes may have vary-ing degrees of negative impacton our future developmentprospects.

We have been recog-nized as a nationalhigh-tech enterprisesince 2015 and havebuilt a robust portfo-lio of technologies.This technologicalfoundation plays acrucial role in ourongoing operations.Our core technol-ogies are primarilyand independentlydeveloped by ourin-house R&D team,with key technicalpersonnel playinga pivotal role in theR&D process. A lossof core personnel ora signi?cant breachof technologicalcon?dentiality couldnegatively impactour operations.

We have built a strong portfo-lio of core technologies thathave been successfully ap-plied in our product R&D. Asof December 31, 2024, we hadheld a total of 1,971 grantedIPRs, including 260 inventionpatents, 1,368 utility modelpatents, 128 software copy-rights, and 6 design patents.If any of these patents or IPRsare later found to be invalid, ifthe relevant authorities deter-mine that we have committedpatent or technology infringe-ment, or if other companiesinitiate IPR lawsuits against usas part of their business strat-egies, we may not only facelitigation or disputes but alsosee an impact on the sales ofour products, thus adverselya?ecting our operationalperformance.

Our revenue is primarilyderived from the siliconwafer, cell, and moduleproduction segments ofthe PV industry chain,which are highly concen-trated. In 2024, PV moduleprices dropped signi?-cantly, leading to a declinein the pro?tability of ourclients. As a result, someclients faced greater op-erational di?culties, withsome incurring losses,and a few even enteringbankruptcy or restructur-ing. If the PV industry doesnot recover within thenext 12 months, there maybe additional risks, suchas client bankruptcies.These factors could havea substantial negativeimpact on our operationalperformance.

Our business decision-makingis a?ected by technology devel-opment trends, policy changes,market competition environment,macroeconomic ?uctuations andother factors. Our products aremainly used in PV, new energyvehicles and other emerging in-dustries, which changes rapidly inindustry development. This bringscertain instability, making ourbusiness decision-making moredi?cult.Our cooperation with other enter-prises through strategic invest-ment, R&D cooperation, and otherforms allows us to quickly seizemarket opportunities and enhanceour core competitiveness in themedium- and long-term. However,such strategic investments, R&Dcooperation and other actionspose higher requirements for ourbusiness decision-making.Therefore, although we havetaken measures to make our deci-sion-making more science-basedand rational, we cannot excludethe possibility that there may bemistakes in this regard, and thuscause adverse impacts on us.

In 2024, we expe-rienced situationswhere some clientscanceled or delayedthe execution ofcontracts. In thefuture, the risk ofnon-performance byPV clients is expect-ed to rise. If ?uctua-tions in the down-stream industrylead to signi?cantadverse changes inthe operating condi-tions of our clientswith active orders,resulting in slow-er-than-expectedcontract executionprogress, or evena halt in executionor contract cancel-lations, our opera-tional performancecould be negativelyimpacted.

Risk Descriptions and Responses

Risk Points

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Financial RisksIndustry RiskMacro Environment RiskInventory impairment risk

Accounts receivable recov-ery risk

Risk of tax incentives

Risk of market demanddecline

Risk of signi?cant changesin core technologies or tech-nical routes in downstream

industries

Risk of increased tari?s onproduct exports

Risk of exchange rate?uctuationWe hold relatively largeinventories, a signi?cantportion of which consistsof issued goods. This isprimarily due to the longinstallation, commission-ing, and trial operationcycles of our equipmentproducts, from issuanceto client acceptance.Although we have madeprovisions for potentialinventory impairment inaccordance with account-ing policies and based onthe actual condition of ourinventories, changes in themarket environment orother unforeseen circum-stances may hinder thesuccessful sale of theseinventories or lead to asigni?cant drop in theirprice. This exposes us tothe inventory impairmentrisk.

We have a large volumeof accounts receivable.During the reporting peri-od, some downstream cli-ents failed to make timelypayments as per the con-tract, resulting in overdueaccounts. With the rise ofloss-making enterprisesin the PV industry andthe deterioration of theoperating conditions ofour clients, it is likely thatboth accounts receivableand overdue accountswill continue to increasein the future. If we areunable to recover themin a timely manner, or ifsome amounts remainunrecoverable, this couldnegatively impact ouroperational performance,cash ?ow, and other areas.

The equipment products we manufacture are operatedand controlled through our independently developed anddesigned software. As of December 31, 2024, we had ob-tained 128 computer software copyrights and 91 softwareproducts related to such software. In accordance with theNotice on Value-added Tax Policy for Software Products(Finance and Tax [2011] No. 100) and other relevantdocuments, our self-developed operating system softwareand other software embedded in the equipment we sellare eligible for the instant VAT refund policy. We were recog-nized as a high-tech enterprise in 2015 and successfullypassed the review of high-tech enterprise recognition in2021 for the ?rst time (Certi?cate No.: GR202132005383),followed by another successful review in 2024 (Certi?cateNo.: GR202432014252). According to the AdministrativeMeasures for the Recognition of High-tech Enterprises, thequali?cation of high-tech enterprises is valid for three yearsfrom the date of certi?cation, and companies must applyfor re-evaluation before the quali?cation expires. Accordingto the relevant tax incentives for high-tech enterprises,we enjoy a preferential enterprise income tax rate of 15%during the applicable period. If these tax incentives arecanceled, reduced, or if there is a material adverse changein our high-tech enterprise quali?cation, our operationalperformance could be negatively impacted.

During the reporting period,our clients were primarilyfrom the PV and energystorage battery industries. Ifthere are signi?cant adversechanges in relevant indus-trial policies, internationaltrade policies, or other reg-ulations, it could negativelyimpact the PV and newenergy vehicle industries,which would, in turn, a?ectour sales and operationalperformance. Therefore, ifdemand in these industriesdeclines, especially in thePV sector, or if excess ca-pacity clearance progressesmore slowly than expected,demand for our equipmentcould decrease, having amaterial adverse e?ect onour production and opera-tions.

We are primarily engaged inthe R&D, design, produc-tion, and sales of high-end intelligent equipment,with major downstreamindustries including thecrystalline silicon PV indus-try, the electrochemicalenergy storage industry,and the semiconductorpackaging and testing in-dustry. There is a potentialrisk of signi?cant changesin the core technologies ortechnical pathways of thesedownstream industries.

If such signi?cant changesoccur, it could alter the sup-ply and demand dynamicsfor our existing products,which may negatively im-pact, or even fundamentallyalter, our production andoperations.

We operate in the specializedequipment manufacturing in-dustry, with overseas ordersaccounting for more than30% of total sales in 2024.Changes in tari?s in interna-tional markets will signi?-cantly impact our operations.In recent years, the U.S. hasimplemented measuressuch as “export bans” and“reciprocal tari?s”, whichmay fuel global trade pro-tectionism and create tradebarriers, thus a?ecting oursales. The imposition of hightari?s on Southeast Asiancountries, including Vietnamand Cambodia, as part ofthe “reciprocal tari?”policy, could notably impactthe demand for equipmentfrom our clients'factories inSoutheast Asia.

We engage in bothexport and importactivities, withthe valuation andsettlement of trans-actions primarilyin U.S. dollars. TheU.S.’s “reciprocaltari?s” have a greatimpact on the yuanexchange rate. Asthe U.S. dollar ?uctu-ates, our settlementsin other currenciesmay increase,leading to a broaderrange of currenciesinvolved. Unfavor-able changes inexchange rates couldadversely a?ect ourproduct exports andoverall operationalperformance.

Risk Descriptions and Responses

Risk Points

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Climate Change ResponseEnvironmental ComplianceManagementDischarge of Wastewater, WasteGases, and Solid WasteEnergy Utilization

????

????Water Resource UtilizationCircular EconomyGreen OperationsBiodiversity Conservation

Align with the SDGsResponse to Issues Environment

Climate Change ResponseClimate Change Governance

At Autowell, we uphold a green and environmentally friendly philosophy to driveindustry development. We actively support the “Dual Carbon” goal (i.e., peakingcarbon emissions by 2030 and achieving carbon neutrality by 2060) and climatechange initiatives by integrating climate governance into our corporate manage-ment framework, and implementing a top-down approach to the governance ofclimate change risks.

Autowell’s carbon emissions management structure

?Determine the overall direction of work on environmental protection.?Conduct regular reviews of environmental management documents.

Identify GHG emission sources within their respective departments.Implement emission reduction projects and control GHG emissions in production and daily operations.Provide the department’s GHG inventory data records and lists of GHG-related equipment.

Organize and lead the identi?cation of GHG emissionsources.Establish, implement, and maintain the environmentalmanagement system and GHG management documen-tation in accordance with ISO 14064 standards.......

Identify, consolidate, and evaluate GHG emission sources; and pro-vide guidance on digital inspections across departments.

Collect, consolidate, and calculate GHG emissions; and compileand manage GHG emission reports.

Draft, review, revise, and distribute GHG management documents.........

???

???

Other Functional Departments

ExecutionManagementRepresentatives

General Management DepartmentImplementation Coordination

General ManagerTop Executive

We have established a carbon emissions management structure, with the General Manageras the leader, the management representatives and the General Management Departmentresponsible for implementation, and various functional departments executing speci?c initia-tives. We continuously improve our corporate carbon emissions management system, fostercompany-wide participation, and continuously promote clean, low-carbon, and high-qualitydevelopment.

?

?

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Climate Scenario Analysis Climate Change Strategy

Climate scenario analysis is a method used to assess climate risksand opportunities by modeling future outcomes under di?erent as-sumptions and analyzing response strategies. Autowell follows GHGconcentration pathway scenarios described by the UN Intergovern-mental Panel on Climate Change (IPCC), specifically the SSP5-8.5(high-emission) scenario and the SSP1-2.6 (low-emission) scenario,seeking to analyze emission reduction targets and resilience mea-sures under a low-emission scenario, laying the groundwork for de-veloping climate risk assessment tools.

ClimateScenario

Description

Greenhouse gas (GHG)

Emissions

Climate Impacts

High-EmissionScenario(SSP5-8.5)

This scenario assumes global eco-nomic growth relies on high-carbonenergy sources such as fossil fuels,with rapidly increasing energydemand.

By 2100, global average temperatures mayrise by 4.3°C to 6.7°C. CO2emissions peakaround 2050 and continue to rise thereaf-ter.

This scenario may lead to more frequentextreme weather events, rising sea levels,ecosystem degradation, and severe im-pacts on agriculture and water resources.Low-EmissionScenario(SSP1-2.6)

This scenario assumes global com-mitment to aggressive emissionsreduction, fostering renewable ener-gy development and technologicalinnovation.

By 2100, global temperatures are project-ed to rise by approximately 1.5°C. CO

emissions reach net zero around 2050,potentially leading to net negative emis-sions.

This scenario helps keep global warmingat a lower level, reducing the frequencyand severity of extreme weather events,and mitigating negative impacts onecosystems and human societies.

Climate Risk and Opportunity Identi?cation

Risk Type

Climate Change-Re-lated Risks

Potential Impact

ImpactDuration

Impact Lev-

el

Mitigation Measures

Physical Risks (high-emission

scenario)

Extreme Weather Events (e.g.,Typhoons, heavy rain, ?oods, and

heatwaves)

Extreme weather events (e.g., typhoons, heavy rain, ?oods,and heatwaves) may cause damage to production facilities,disrupt supply chains, and increase maintenance costs andoperational delays.

Short-termMedium

Establish emergency plans and response mechanisms for extremeweather, set up weather monitoring systems, increase materialreserves, strengthen key facilities, etc., to enhance our capacity tocope with extreme weather and reduce losses from such events.Rising sea levels

According to the IPCC, global sea levels may rise by 0.3 me-ters to 1 meter by 2100. Sea level rise leads to saltwater intru-sion, impacting water resources in inland areas, increasingfreshwater salinity, reducing factory production efficiency,and complicating wastewater disposal.

Medium- tolong-term

Low

Continuously promote diversi?ed water resource usage, increasewater recycling e?ciency, and reduce dependence on freshwaterresources.

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Risk Type

Climate Change-Re-lated Risks

Potential Impact

ImpactDuration

Impact LevelMitigation Measures

Transition Risks (low-emission

scenario)

Policy risks and opportunities

As global carbon reduction goals advance, governments con-tinuously introduce stricter carbon emission regulations andpolicies, such as carbon pricing mechanisms, carbon tari?s,and carbon labeling. Overseas business operations will facestricter compliance requirements and oversight, increasingoperational costs abroad.

Short-termMedium

Stay updated and actively respond to domestic and internation-al climate, environmental, and carbon-related laws and policychanges.Expand the scope of product carbon footprint certification,monitor carbon tariff policies, assess export costs, and adjustbusiness plans accordingly.Environmental disclosure challeng-

es

As management measures, such as carbon emissions andcarbon trading, become more re?ned and are being imple-mented, national and regional regulators, exchanges, capitalmarkets and other parties are proposing higher requirementsfor environmental disclosure. We may face compliance risksdue to incomplete or untimely environmental disclosures.

Medium- to

long-term

High

We regularly conduct carbon emission veri?cation and account-ing in line with the ISO 14064 carbon accounting system anddisclose relevant GHG emissions information in our annual ESGreport.Market risks and opportunities

Downstream clients are increasingly inclined towardslow-carbon products. If we fail to meet client expectations forenergy e?ciency and sustainability, we may face client attri-tion, leading to reduced revenue.

Medium- to

long-term

Medium

We conduct product carbon footprint analysis, monitor emis-sion reduction effects throughout the product lifecycle, andcontinue to reduce product carbon emissions. In the future, wewill persist in green product design and manufacturing.Technology risks and opportunities

To effectively control product carbon emissions, there is aneed to improve the efficiency of environmental processdevelopment, enhance the use of new technologies, andupgrade clean production equipment to meet the demandfor low-emission product manufacturing. However, this mayincrease operational costs and make R&D more challenging.

Short-termLow

We continuously optimize production processes by establishingan energy consumption monitoring system, carrying out ener-gy-saving and emission-reduction process transformations, andcontinuously reducing product energy consumption and carbonemissions.

Reputation risks and opportunities

As regulators, investors, ESG rating agencies, and otherstakeholders increasingly focus on corporate sustainabilityperformance, poor climate performance could damage ourreputation and performance.

Medium- to

long-term

Low

We regularly disclose ESG performance, actively address stake-holders'concerns, and uphold sustainable development philos-ophies to continuously improve our performance.

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GHG Emissions Management Climate Change Metrics and Targets

At Autowell, we actively respond to China’s “Dual Carbon” policy and con-tinuously promote GHG emission reduction e?orts. We conduct annual GHGaccounting and verifications in accordance with the ISO 14064 standard,ensuring precise identi?cation and management of our emissions. In 2024,we commissioned a third party to conduct GHG veri?cation and released the2023 GHG Veri?cation Statement, providing a referenceable best practice forcarbon emissions management in the specialized equipment manufactur-ing industry.

The primary sources of our GHG emissions include purchased electricity, natural gas, gas-oline, diesel, and certain refrigeration equipment. Indirect GHG emissions (Scope 2 emis-sions) constitute the largest share of our total emissions, primarily resulting from electricityconsumption for operations.

Note 1: GHG emissions are calculated based on the Guidelines for Accounting and Reporting of Greenhouse Gas Emissions for Enterpris-es in Other Industrial Sectors (Trial)

issued by the National Development and Reform Commission (NDRC). The electricity emission factorfor purchased electricity is derived from the Announcement on the 2022 Electricity Carbon Emission Factor, published by the Ministry ofEcology and Environment in December 2024.Note 2: The Company conducts an annual GHG veri?cation every May, with all o?cial data to be derived from the ?nal veri?cation report.2023 GHG Veri?cation Statement & Appdenix to the GHG Veri?cation Statement

GHG Emissions Data

1,2IndicatorUnit2024Total GHG emissionstCO2e2,621.25Scope 1 GHG emissionstCO2e

375.85

Scope 2 GHG emissionstCO

2e

2,245.40GHG emission intensitytCO2e/RMB 10,000 revenue0.0028

2021

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Carbon Emissions Reduction Actions

Continuously optimize production processes, promote energy-saving technological upgrades, and strengthen energy consumption management during production, reducingboth product energy consumption and GHG emissions.Increase the proportion of clean energy in total energy consumption by installing distributed rooftop PV systems in workshop buildings and PV-powered streetlights in the facto-ry area, thereby reducing carbon emissions from fossil fuels.Establish a product lifecycle rating management system, introduce carbon footprint accounting methods, conduct carbon footprint analysis for our wafer inspection systems,and develop targeted environmental protection improvement measures based on the analysis results to optimize the carbon emissions across the entire product lifecycle.

The Company’s 018F wafer inspection systems boast an extensive lifecycle system boundary, covering?ve key stages: raw materials, manufacturing, distribution, use, and waste disposal. Among these, thecarbon emissions from the raw material stage are the most significant, reaching7,484.29kg CO2e,which accounts for over 90% of the total emissions. In light of the high emissions at this stage, we ac-tively identify and assess relevant in?uencing factors, continuously improving green improvement mea-sures.

Product carbon footprint certi?cation: contributing to GHG emissions reduction

Product Carbon Footprint Evaluation Certi?cate

Energy-saving andcarbon-reductionequipment upgradesOptimization of theenergy structureProduct carbonfootprint certi?cation

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The Company adheres to theEnvironmental Protection Law of the People’s Republic of China, theEnvironmental Impact Assessment Law of the People’s Republic of China, andother relevant laws and regulations. We continuously improve our internal environmental management system and strengthen the development of our environmental manage-ment framework. In 2024, we successfully passed the annual surveillance audit for the ISO 14001 Environmental Management System certi?cation.

Environmental Compliance Management

Environmental Management System

ISO 14001 Environmental Management System Certi?cate(Certi?cation Scope: Environmental managementrelated to the research, development, and productionof automated equipment for solar wafer and module

manufacturing.)

During the reporting period, our investment in environmental protection amounted to RMB 6.2382 million,including photovoltaic roof investment,No major environmental incidents or violations of environmental laws and regulations occurred.

Autowell Environmental and Safety Management SystemWork safety inspection system

Rewards and punishments system concerning

safetySystem on the protection of female workers

and minorsWork safety target management systemEquipment operation cardmanagement system

Performance evaluation management systemEquipment and facility inspection andmaintenance management systemSource of hazard management systemOperating safety management system

Management system on the operation ofenvironmental protection equipment

Protective equipment management system

Management system for places with

?ammable or explosive articlesWork safety responsibility management

systemManagement system on the implementationof laws, regulations, standards, and norms

Warning marks and safety management

systemConstruction and maintenance safety

management systemDocument and ?le management systemManagement system on the withdrawal

and use of work safety funds

Management system on theimplementation of rules and regulations

Dust and virus control equipmentmanagement system“Five-Point” work safety management

systemGroup and post target performance

management system“Three Violations” management system

Onsite leadership systemEmergency relief management system

Fire safety management systemWork safety meeting system

Management system on labor protection

articlesSafety organization and personnelappointment and management system

Change management system

Management system on chemical property

risk assessment and controlEquipment and facility safety management

systemHazardous chemicals management systemWork-related injury insurance management

system

Work safety meeting system

Management system for accidents involving

heavy casualties

OHS education system

Safety and health management system for

construction projectsSafety management system for special-

purpose equipment and personnel

Stakeholder safety management systemFire safety management systemDangerous operations approval systemTemporary wiring approval systemHazardous chemicals management systemManagement system on tra?c safety at

factory

Management system on occupational

disease prevention

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Environmental Emergency Manage-ment

Environmental Safety Hazard Inspection

Environmental Protection Training

Environmental Risk Assessment and Response

The Company strictly complies with theEmergency Re-sponse Law of the People’s Republic of Chinaand hasformulated theEnvironmental Emergency ResponsePlan. We have established an emergency response teamto systematically analyze environmental risks and poten-tial environmental emergencies, develop targeted en-vironmental risk prevention measures, and implementan internal early warning mechanism to enhance emer-gency response capabilities. Additionally, we conductregular emergency response training and drills each yearto improve employees'ability to handle environmentalemergencies.

This drill simulated a malfunction in the circulation pump of theemulsion collection tank, resulting in an over?ow of the waste emul-sion and minor leakage on the ground. The emergency responseteam was immediately noti?ed to arrive at the site for response.

Drill process

To identify and eliminate potential environmental safety hazards promptly, the Company conducts weekly rou-tine hazard inspections, reports any identi?ed issues to the responsible departments for recti?cation action, re-views recti?cation results, and documents all identi?ed hazards and recti?cation results. Beyond routine inspec-tions, we also conduct specialized hazard inspections on a regular basis, addressing risks related to electricityuse, ?re safety, and summer and winter-speci?c hazards. These e?orts have helped us reduce the occurrence ofincidents during high-risk periods.

The Company emphasizes energy conservation and environmental protection promotion and education throughtraining sessions, posting signs, etc. We share and publicize the latest laws, regulations and policy documentsrelated to energy conservation and emission reduction in a timely manner, encourage employees to participatein environmental protection themed activities, and publicize related new products and technologies, raising theawareness of energy conservation and environmental protection among our employees.

During the reporting period, we proactively addressed all identi?ed environmental safety hazards, achievinga100%closed-loop recti?cation rate.

Environmental protection trainingPosting signs

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Discharge Management for Wastewater, Waste Gases, and Solid Waste

Discharge of Wastewater, Waste Gases, and Solid WasteThe Company strictly complies with theWater Pollution PreventionandControl Law of the People’s Republic of China, theAtmospheric Pollution Prevention and Control Law ofthe People’s Republic of China, and theLaw of the People’s Republic of China on Prevention and Control of Environmental Pollution by Solid Waste, as well as local environmentalregulations and standards where we operate. We regulate the management of waste gases and water discharge and noise control, disposal of hazardous substances, etc., improve re-source utilization, and ensure that all emissions meet or exceed the legal standards, reducing the negative impact on the environment.

Emission SourceTreatment and Discharge Reduction Measures Waste gases

Oil mist from machining workshops,and oil smoke from cafeteria

Install waste gas treatment devices at the exhaust gas discharge outlets, to ensure compliance with emission standards before discharge, and arrangeregular testing for the discharged waste gases by relevant organizations.Actively prevent and control waste gas pollution, upgrade the waste gas treatment device and promote other initiatives to e?ectively prevent and reduceatmospheric pollution. Wastewater

Only domestic sewage without anyindustrial wastewater

After pre-treatment by the 4-meter-deep septic tank in the factory area, wastewater is directed to the municipal pipeline network and undergoes central-ized treatment by the water treatment plant.

Solid waste

Non-hazardous wasteDomestic garbage and waste cardboard boxes will be collected together and handed over to quali?ed recycling departments for treatment.Hazardous (Dangerous) waste

Specify collection, storage and disposal processes to ensure traceability of hazardous waste and legal disposal across the treatment process. We regularlycommission other quali?ed entities to deal with the waste cutting ?uid generated during production. Our hazardous waste management register hasbeen approved by the ecological and environmental departments of the respective areas, and the transfer procedures are handled in accordance withthe relevant provisions of the environmental protection departments.

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Noise Management

Clean Production

The Company strictly follows theLaw of the People’s Republic of Chinaon the Prevention and Control of Noise Pollution and actively controls noise for its factories within industrialparks, which are located away from residential areas. For areas with noise, measures such as equipment protection, work environment monitoring, and occupational health checksare taken to reduce noise impact on employees'health.

Autowell actively responds to China’sgreen development policy and has initiatedclean production audits. After undergoingstrict evaluation and auditing procedures,the Company successfully passed the cleanproduction audit and performed excellent-ly in the green factory certification review,earning the honor of “Jiangsu ProvinceGreen Factory”.

Jiangsu Province Green Factory

The Company actively promotes cleaner production and supports the devel-opment of the circular economy. We prioritize the use of clean energy, adoptprocesses and equipment with high resource utilization efficiency and lowpollutant emissions, and promote integrated waste utilization technologiesand harmless pollutant treatment technologies, reducing pollutant genera-tion and e?ectively enhancing our clean production management.In terms of clean production philosophies, we follow the “Five Characteris-tics, Two Transformations, and Environmental Friendliness” principle. Wefocus on the durability, maintainability, reliability, reusability, and re-manu-facturability for our products, and improve the development of modular andintelligent products. We emphasize the disassembly (separation) and recy-clability of parts that have a negative environmental impact, during both theproduction and usage phases.

During the reporting period, the environmental noise outside the factory boundary met the requirements of Category 3 standards in theEmission Standard for Industrial Enter-prises Noise at Boundary (GB 12348-2008).

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Energy Management System

Energy Conservation and CarbonReduction Management

Energy Conservation and Carbon Reduction in Pro-duction

To further enhance energy manage-ment, deepen energy conservation andemission reduction e?orts, and improveenergy utilization e?ciency, Autowellstrictly adheres to the Energy Conser-vation Law of the People’s Republic ofChinaand continuously strengthens itsenergy management system. Duringthe reporting period, we successfullypassed the annual audit of the ISO50001 Energy Management System.

Autowell actively implements energy conservation and carbon reduction strate-gies, promotes equipment e?ciency upgrades, introduces advanced energy-savingequipment, and conducts research on energy-e?cient processes. These initiativesaim to maximize energy utilization e?ciency and signi?cantly reduce energy con-sumption in production. Furthermore, subsidiary Polar PV has its own photovoltaicpower station, with generated electricity prioritized for internal operational de-

Continuous Opti-mization of Equip-ment E?ciency

Energy-SavingMeasures

E?ects

Energy-SavingProcess Man-agement

In terms of production and power equip-ment, we have introduced energy-savingequipment to enhance energy utilizatione?ciency. For instance, centrifugal pumpsand centrifuges have been upgraded from?xed-speed motors to variable frequencymotors, enabling load speed adjustmentand reducing electricity losses.We actively explore and develop energy-saving processes byestablishing an energy management platform that enables com-prehensive energy management. This platform provides real-timeand refined monitoring, identifies potential energy-saving andemission reduction opportunities through intelligent analysis,and reduces overall energy consumption. Additionally, we man-age our air conditioning systems to ensure summer cooling doesnot exceed 26°C and winter heating does not exceed 20°C. Airconditioners are turned off 30 minutes before the end of workhours to further reduce energy consumption.

ISO 50001 EnergyManagement SystemCerti?cation(Certi?cation Scope:

Energy managementactivities related to theresearch, development,and production of au-tomated equipment forsolar wafer and module

manufacturing.)

Low-energy-consumption

air compressors

In 2024, our total energy consumption decreased by 28%compared to 2023 (excludingrenewable energy consumption).

Energy Utilization

Energy Management

PolicyEnergy Management

Target

Compliance with regulations, energy conservation and consumptionreduction, science-based development, and continuous improvement.Continuous reduction in total energy consumption in 2024.

mand. After ful?lling onsite consumption requirements, surplus energy is fed into the pub-lic grid in compliance with local energy regulatory provisions, achieving optimized energyutilization.In 2024, the total electricity generation of Polar PV Power Station reached808,104kWh,with335,724 kWh consumed for self-use (on-site consumption).

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Intelligent Energy Consumption Monitor-ing

Clean Energy AdoptionTo effectively enhance energy efficiency and energy managementcapabilities, Autowell has deployed a digital intelligence system toprovide data support for its energy consumption management. TheCompany leverages an online energy consumption monitoring systemto dynamically track energy consumption, promptly detect anomaliesin energy consumption, and regularly compile statistics on energyconsumption across di?erent entities. This enables the timely identi-?cation of energy ine?ciencies, the discovery of potential energy-sav-ing opportunities, and the improvement of energy management preci-sion.

The Company strongly promotes green production and low-carbon operations by actively optimizingits energy mix and accelerating the development of renewable energy infrastructure. Our primary ener-gy sources include purchased electricity, natural gas, diesel, gasoline and renewable energy.The Company has implemented distributed rooftop solar photovoltaic (PV) projects and PV streetlightsacross its facilities. In 2024, these initiatives generated a total of 1,660.94 MWh of electricity, equivalentto reducing approximately 1,413 tons of CO

emissions.Energy Consumption Overview

IndicatorUnit2024Purchased Electricity10,000 kWh418.45

DieselTons13.63GasolineTons78.29

Natural GasKNm?43.60Total Comprehensive Energy ConsumptionTons of standard coal702.51Direct total energy consumptionTons of standard coal188.23Indirect total energy consumptionTons of standard coal514.28Comprehensive Energy Consumption Inten-

sity

Tons of standard coal per RMB 10,000 reve-

nue

0.0008

Renewable Energy ConsumptionMWh1,660.94Proportion of Renewable Energy Consump-

tion

%22.45Note 1: The Company’s primary direct energy sources include diesel, gasoline, and natural gas, while indirect energy sources mainly involve purchased elec-tricity. The total comprehensive energy consumption is calculated with the conversion factors speci?ed in theGeneral Rules for Calculation of the Compre-hensive Energy Consumption (GB/T 2589-2020) issued by the People’s Republic of China.Note 2: Purchased electricity ?gures exclude self-consumed PV power generation.Autowell’s energy consumption management platform

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Autowell strictly complies with theWater Law of the People’s Republic ofChina and other relevant regulations, implementing standardized water-sav-ing measures and enhancing water resource management.The Company’s primary water source is municipal water supply, which ismainly used for production, office operations, and employees'daily con-sumption. Our water withdrawal activities do not have a signi?cant impacton the environment.

Autowell actively responds toChina’s 14th Five-Year Plan for Circular Economy Developmentandadheres to theCircular Economy Promotion Law of the People’s Republic of China. The Companycontinuously optimizes resource utilization, promotes green material procurement, and recyclesand reuses recyclable materials.

We prioritize environmentally friendly mate-rials, including eco-friendly metals, non-me-tallic materials, and recyclable materials.These materials have minimal environmentalimpact during production and can be reused,reducing resource waste.In 2024, we purchased green materials worthRMB 4.03 million.

We encourage the reuse of packaging materials toreduce consumption and minimize resource depletionand GHG emissions.During the reporting period, we collaborated withsuppliers to recover and reuse presentable woodenpackaging crates for laser equipment, significantlyreducing packaging waste. Over 100 crates were recy-cled.

We have constructed a rainwatercollection system that gathersrainwater from factory rooftopsthrough dedicated pipelines.After undergoing multi-stagefiltration and purification, thecollected rainwater is stored ina reservoir. The treated watermeets the quality standards forlandscaping irrigation and isused for plant maintenance andother recycling purposes withinthe facility.

We actively promote water conservation throughawareness campaigns, regularly organizing wa-ter-saving training sessions. Signage is placed inpublic areas to encourage responsible water useand eliminate continuous water flow issues. Em-ployees are guided to use water e?ciently, foster-ing awareness of the importance of water resourceconservation.

Note: The total water consumption increased compared to the previous year due to the commissioning of the Phase II factory.

Water Resource Utilization

Circular EconomyWater-saving Measures

Initiatives for the Circular Economy

Water-saving facilities

Green material procurementWater conservation awareness

Recycling of packaging materials

IndicatorUnit2024Total water consumption (municipal supply)Tons83,191Water consumption intensityCubic meters per 10,000 yuan of revenue 0.0904

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At Autowell, we value green and low-carbon philosophies by integrating various environmentally friendly measures into our o?ce operations. We actively promote sustainable de-velopment while fostering a high-quality o?ce environment.

Stipulate that air conditioners, lights, computers, and other electrical devices must be turned o? after work; Advocate for turning o? air conditioning 30 minutes before leaving the o?ce and ad-justing the temperature settings based on the season; Suggest the use of energy-saving lighting and maximize the use of natural light to reduce electricity consumption.Advocate for a paperless o?ce environment: In 2024, the paper consumption per capita was

618.29

sheets, re?ecting a

4.6%

decrease compared to 2023.

Install smart EV charging stations in our facilities to encourage staggered charging, and encourage employees to use new energy vehi-cles to reduce fossil fuel consumption.

? Display banners, slogans, and posters to promote a civilized, frugal, green, and low-carbon lifestyle and work culture, fostering

strong engagement and awareness among employees.? Regularly share updated energy conservation policies, laws, regulations, as well as new energy-saving products and technologies through DingTalk, emails, and other platforms.

Green OperationsGreen O?ce Initiatives

Daily operations

Paperless o?ce

Green commuting

Promotion

Green o?ce initiatives

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At Autowell, we are ?rmly committed to balancing technological innovation with environmental responsibility on the path to sustainable development. With a strong focus on the photo-voltaic, lithium energy storage, and semiconductor sectors, we are dedicated to driving the green development of the industry through practical and e?ective solutions.Green Product Design

Photovoltaics: Next-Generation 0BB String WeldingTechnology

Energy Storage: Innovative and Intelligent Technology

Semiconductors: Breakthroughs in SC-1600 MCZ MagneticCrystal Growth Furnace and Improved E?ciency in WireBonderIn 2024, we introduced a new generation of 0BB soldering stringerequipment, optimized for green manufacturing. Featuring a mod-ular structure, the system is compatible with mainstream cellssuch as TOPCon, HJT, and BC, and equipped with an intelligenttemperature control system to enable precise energy consumptionmanagement. Through an enhanced thermal cycle design, theequipment maintains stable high, medium, and low-tempera-ture process conditions while reducing energy consumption. Itscompatibility with multiple processes reduces production linecon?guration requirements and supports the adoption of variousadhesives including UV and water-based eco-friendly options,helping lower VOC (volatile organic compound) emissions duringmanufacturing.

In the ?eld of energy storage equipment manufacturing, we haveintegrated innovative flexible logistics scheduling technologywith high-precision visual positioning systems to signi?cantly im-prove the operational e?ciency of energy storage modules/PACK/container production lines. With a modular design concept, thesolution allows for ?exible production line con?guration based onvarying application scenarios, ensuring production precision whilereducing idle energy consumption of equipment. By optimizing ma-terial ?ow paths and deploying intelligent scheduling algorithms,the solution increases resource utilization efficiency and reducesenergy consumption, providing a more adaptable green manufac-turing solution for the energy storage industry.

Our newly developed SC-1600 MCZ magnetic crystal growth furnacehas achieved a major breakthrough by successfully completing its ?rstcrystal growth operation on an overseas client’s production line. Thesystem produced a semiconductor-grade crystal ingot with a diameterof 395 mm and length of 1.7 m. Compatible with a variety of semicon-ductor materials, this large-diameter design improves the furnace’soutput while reducing raw material waste, o?ering the semiconductorindustry a more e?cient and environmentally friendly crystal growthsolution.In addition, we have signi?cantly enhanced the production e?ciencyof our flagship aluminum wire bonder through design optimization.The unit’s production e?ciency (UPH) has increased by 20%, while itsoperational stability has been greatly improved, ensuring high-e?cien-cy production processes.

MBB PV Cell Soldering StringerPrismatic Cell Energy Storage Module/PACK Assembly LineCrystal Growth Furnace Aluminum Wire Bonder

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Biodiversity ConservationIn alignment with theConvention on Biological Diversity,China’s Judicial Protection of Biodiversity, and other relevant policies, we will actively learn and adhere to ecologi-cal and biodiversity conservation requirements, striving to realize the vision of harmonious coexistence between humanity and nature.

Comply with interna-tional and local forestresource protectionlaws and regulations,and strictly prohibit allsubsidiaries from con-ducting operations inforested areas, naturereserves, or ecologicalhabitats to ensure theintegrity and stabilityof the ecological envi-ronment.

Encourage suppliersto participate in therestoration of degrad-ed forest ecosystems,contributing to forestrehabilitation and thevirtuous cycle of theecosystem.

Strictly adhere topolicy requirementsfrom China’s Ministryof Natural Resourcesand the National For-estry and GrasslandAdministration duringthe project initiationphase, ensuring allconstruction activitiesalign with ecologicalconservation goals.

Strictly control envi-ronmental impact andnoise pollution duringproject construc-tion, and minimizeconstruction duration,and reduce materialconsumption throughgreen constructionmanagement andoptimized scheduling,achieving a balancebetween projectdevelopment and eco-logical protection.

Vigorously promotethe use of renewableenergy and circularresources, reducedependence on tradi-tional natural resourc-es, and minimize theenvironmental impactof resource extraction.

Integrate biodiver-sity considerationsinto the early-stageproject evaluationsystem to ensure thatwe and our supplychain operations andproject locations donot encroach uponlocal nature reservesor ecological con-servation habitats,e?ectively mitigatingecological risks at thesource.

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Safeguarding Employee Rightsand InterestsOccupational Health and Safety Products and Services???

???Innovation-Driven Devel-opmentWin-win CooperationSocial Contributions Society

Response toissuesAlign with the SDGs

Safeguarding Employee Rights and InterestsEmployment and Equality

Talent AcquisitionCompliant EmploymentAutowell strictly adheres to theLabor Law of the People’s Republic of China, theLabor Contract Law ofthe People’s Republic of China, theLaw of the People’s Republic of China on the Protection of Rightsand Interests of Women, and theProvisions on the Prohibition of Using Child Labor, among other rel-evant laws and regulations. The Company has established comprehensive employment managementpolicies, including the Recruitment Management Policy and the Employee Handbook. We uphold theprinciple of employment equality, strictly prohibit child labor and forced labor, and mandate that all jobapplicants must be at least 18 years old. For positions involving occupational hazards, employees mustbe over 18 years old and possess valid identi?cation recognized by the People’s Republic of China. Fur-thermore, we enforce a zero-tolerance policy against discrimination and harassment based on gender,age, nationality, or ethnicity.

In 2024, the Company revised a series of recruitment managementdocuments, including the Recruitment Plan and Implementation, theRecruitment Management, the Recruitment Channel Management, andthe Recruitment Implementation. These updates aimed to continuous-ly optimize hiring processes, ensure compliance, and promote fairness.We follow the principles of justice, fairness, and transparency in recruit-ment, and continue to diversify our talent acquisition channels, includ-ing online recruitment, campus hiring, job fairs, headhunting services,university-industry collaboration, internal referrals, and social mediarecruitment to attract highly skilled, multidisciplinary professionals,supporting our long-term growth.During the reporting period, we signed labor contracts with100%of our employees, and had nochild labor, forced labor, or discriminatory incidents.

During the reporting

period, we recruited

over

graduates

and more than

experienced employ-

ees.

In 2024, Autowell was recognized with two employer brand certi?cationsLiepin:

Jiangsu Extraor-dinary Employerof the Year

Zhilian Zhaopin:

2024 10 Best Em-ployers in Wuxi

2024 Autowell Campus Recruitment

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The Company actively supports China’s national initiative to deepen university-enterprise collaboration and accelerate the transformation of academicresearch into industrial applications. Through enhanced collaboration with universities, we provide students with internship and employment opportuni-ties.In August 2024, we further expanded our partnership with Nanjing University of Science and Technology (NJUST) by successfully launching an interna-tional industrial study tour to o?er NJUST students valuable opportunities to gain hands-on experience in an international setting. During the study pro-gram, students visited our Manufacturing Center and Engineering Services Department, participated in product assembly and equipment calibration, andgained in-depth knowledge of our manufacturing processes and product technologies. This initiative also o?ered us valuable insights.. By optimizing thetripartite collaboration mechanism among enterprises, universities, and research institutes, we continue to nurture more versatile professionals, contrib-uting to the industry’s high-quality development.

Strengthening university-enterprise collaboration to cultivate multidisciplinary talent

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Diverse Workplace

4,1013,550

21%1%100%

Diversity and inclusion are essential factors in building a strong talent pool. Autowell is committed to fostering a diverse and inclusive work environment, and providing equal devel-opment opportunities and an open growth platform for all employees regardless of gender, age, nationality, and ethnicity.

Total Eemployees

By Age

By JobFunction

Others

By EducationLevel

Male Eemployees

Proportion of femalemanagement

Ethnic minorityemployees

Local employees in over-seas subsidiaries

Employees Aaged 30 and BelowEmployees Aged 30-40（Including40 years old）Employees Aged 40 and above(-Excluding 40 years old)

ProductionSalesFinance

EngineeringR&DManagement

Employees with associate de-grees or belowBachelor’s degree holdersMaster’s degree holdersPh.D. holders

44.75%

46.38%

8.87%

1,267

1,1751,065

58.38%

34.14%

7.24%

0.24%

Female EemployeesEmployee Composition

By gender

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Compensation SystemAutowell advocates for the shared growth with employees while adhering to a rational compensation distribution principle. The Company has established a three-tier compensationmanagement system covering corporate, departmental, and individual levels, and formulated the Compensation Management Process to ensure that compensation structures alignwith corporate strategic planning. Additionally, we implement performance bonuses, year-end bonuses, and various innovative incentive programs to maximize employee motivation,creativity, and talent retention.

Determine assessment and calculation schemes based on employees'job categories; speci?c cas-es such as onboarding, resignation, and special transfers are handled according to our compensa-tion performance calculation policies.Determine year-end bonuses based on our overall performance metrics, with individual bonusesevaluated based on personal annual performance, working years at the Company and other fac-tors.

? Managers are encouraged to provide ad-hoc and project-based incentives as needed.? We conduct annual performance recognition programs, selecting and providing outstand-ing employees, projects, and teams at both the organizational and department levels withawards and monetary incentives.? Eligible outstanding employees may also receive stock-based long-term incentives.

PerformanceBonuses

Year-EndBonuses

Other Incen-tives

Incentive Mechanisms

Compensation and Bene?ts

Equity IncentivesTo further improve the company's long-term incentivemechanism and enable employees to better share inthe enterprise's development achievements, realizingmutual growth for both individuals and the organiza-tion, the company has implemented annual restrictedstock incentive plans in accordance with the 2021, 2022,and 2023 Restricted Stock Incentive Plan (Draft).From2021 to 2023, the company launched one incentiveplan each year, with the three-phase incentive totalingnearly

million shares (based on the share capitalas of April 11, 2025, the date of the notice for the 13thmeeting of the 4th Board of Directors). The incentivecovered over2,700core

management personnel andfrontline business team members.During the reportingperiod, all three-phase incentive plans met the compa-ny-level performance targets, with a total of over

1.81

million

shares vested/unlocked.

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Bene?ts System

Employee Satisfaction Survey

To enhance the e?ectiveness of employee welfare, the Company continuously optimized its welfaremanagement system during the reporting period, further standardizing welfare policies and pro-cedures. Speci?cally, we conducted a comprehensive review and evaluation of our existing welfarepolicies, and introduced several new welfare measures based on employee needs and corporatedevelopment goals, such as family care bene?ts and support for personal hobbies. Additionally, westreamlined the welfare application and approval processes, and adopted a digital managementplatform to ensure e?cient and transparent operations, ensuring that welfare policies are accurate-ly implemented and bene?t all employees. Moreover, we strengthened the promotion and trainingof welfare policies to help employees fully understand and make proper use of available welfare re-sources, thereby improving their sense of belonging and satisfaction, and laying a solid foundationfor our sustainable development.

To understand employees'opinions and demands, the Company con-ducted employee satisfaction surveys with a focus on areas such as thecafeteria and shuttle services, and implemented targeted improvementsfor areas with lower satisfaction to enhance overall employee satisfactionand well-being.

Welfare CompositionInsuranceContributions

? We provide the ?ve social insurances and one housing fund for employees whohave signed formal labor contracts, and o?ers commercial insurance for employ-ees and their one child.? In 2024, 100% of employees were covered by social insurance.HolidayBene?ts

? In addition to statutory holidays, we o?er additional annual leave and paid sickleave for eligible employees, as well as various special leave types such as parentalleave, only-child care leave, prenatal check-up leave, family planning leave, mis-carriage leave, bereavement leave, nursing leave, and overseas family visit leave,ensuring employees’right to rest and meet the leave needs of special groups.FlexibleWorking

Hours

? According to thePaid Annual Leave Regulations and other leave management poli-cies, employees in speci?c departments may arrange ?exible working hours basedon job nature and personal planning. Other departments adhere to an 8-hourworkday, fully implementing weekend rest and statutory holiday policies.

Shuttle Services

? To facilitate commuting, we provide a variety of shuttle routes for employees.OtherBene?ts

? Subsidies such as telephone subsidies and transportation subsidies, interest groupactivities, and employee cafeterias.

In 2024, we collected 1,019 employee satisfaction survey responses,with an overall satisfaction rate of80%.

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Democratic Management System

Employee Grievance Mechanism

Clear GrievanceProcedure

Salary GrievanceChannel

Training andPromotion

Autowell advocates for democratic management by holding staff representativemeetings, establishing trade union organizations, and ensuring employees'rights toinformation, participation, expression, and supervision. We actively attend to employ-ees'opinions on business operations and major decisions, protect employees'rightsand interests, and enhance our science-based management.

The Company’s Human Resources Department and Disciplinary InspectionDepartment are specifically responsible for handling employee grievances,complaints, and reports. Moreover, we have established a suggestion trackingand feedback mechanism, committing to prompt and fair investigations into allgrievances, complaints, and reports. We take necessary corrective actions whileupholding strict con?dentiality and fairness throughout the grievance process.

We have clearly outlined the grievance procedure in theEmployee Handbookand set up grievance mailboxes insurveillance blind spots to actively encourage employees tospeak up.

Employees who have issues with salary payment can submita written dispute to the Human Resources Department with-in three working days after receiving the salary slip or laborcompensation. If an error is con?rmed, the Human Resourc-es Department will respond and reissue the payment within3 working days of receiving the dispute.

We regularly organize training and promotional activities toenhance employees'understanding of our policies and pro-cedures, ensuring that every employee is aware of how toproperly use these feedback channels.

The Company has established a democratic management system in strict accordancewith theTrade Union Law of the People’s Republic of Chinaand theRegulations onDemocratic Management in Enterprises. We regularly hold staff representative meet-ings, run trade union organizations, and review major corporate decisions and policiesto ensure that employees have a voice in corporate a?airs related to economic, political,and cultural matters, thereby improving decision-making and employees'sense of iden-tity. On August 20, 2024, we held a sta? representative meeting to elect the fourth sta?representative supervisors. The elected supervisors, along with those elected at theShareholders'Meeting, constitute the fourth Supervisory Board.

Democracy and Communication

Collecting employee feedback for a greenero?ce environmentIn February 2024, to address internal waste issues, wecollected employee opinions through an online ques-tionnaire and collaborated with employees to build amore sustainable work and production environment. Weadopted valid suggestions from a total of1,763 ques-tionnaires.3839

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? Employees should ?rst raise their issues with their direct supervisor or manager for discussion.? If the issue is not resolved within a reasonable period, the concerned manager or employee may re-

port the issue to the higher-level manager and notify the Human Resources Business Partner (HRBP).? The employee communicates with the higher-level manager, with the HRBP observing or participat-ing in the discussion.? The higher-level manager and HRBP will jointly make a decision on the issue.? If the issue remains unresolved, it should be escalated to the employee’s corporate management.

? The Disciplinary Inspection Department will investigate the issue and provide decision-making refer-

ence to the Company’s management, which will make a ?nal decision.

The Company has always placed employee welfare as a top pri-ority, o?ering both ?nancial and emotional support to employeesfacing signi?cant health issues or accidents.

The Company places great importance on the workplace experi-ence of female employees, strictly adhering to theSpecial Ruleson Labor Protection for Female Employeesand other related re-quirements to meet their speci?c needs. We have designated ex-clusive rest areas for pregnant and breastfeeding women, ensuringtheir rights to rest and breastfeed. In addition, we organize eventfor International Women’s Day, such as DIY pearl jewelry making,Chinese-style handbag making, and health lectures focused onwomen’s well-being, helping female employees reduce stress anddemonstrating our care and respect for them.

In May 2024, an employee underwent surgery for a malignanttumor. Our trade union organized a visit to the employee toprovide both ?nancial and emotional support.In July 2024, after an employee tragically passed away due toa tra?c accident, our trade union representatives attended thememorial service and provided condolence money and emo-tional support to help the family cope during this di?cult time,creating a warm and supportive work environment.

Step 1

Step 2

Step 3

Suggestion boxes in public o?ce areas

Employee Grievance ProcedureCare and SupportAssistance for Employees in Di?culty

Care for Female Employees

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Emphasis on Employee Health Special Event “Shining Her” in Celebration of International Women’s Day

Providing Free TCM Check-ups to Support Employee Health

On International Women’s Day 2024, in collaboration with thetrade union committee, we held various vibrant events underthe theme “Shining Her”, bringing joy and warmth to femaleemployees and making them feel our love and support on thisspecial day.

DIY Pearl Jewelry Making

Breast and Cervical Health

Lecture

Chinese-Style Handbag DIY

Activity

The Company advocates for employees to pay attention to their health. During the reportingperiod, we organized traditional Chinese medicine (TCM) health check-ups to raise employ-ees'health awareness.

In November 2024, to raise health awareness and improve the healthof employees, we responded to the national “Healthy China” initiativeby collaborating with the Wangzhuang Street Chamber of Commerce toinvite TCM experts for health check-ups. The experts provided person-alized health advice and treatment plans based on employees'physicalconditions. The event received a warm welcome and high praise fromour employees. Many expressed that the activity helped them gain adeeper understanding of their health and gave them a more intuitive un-derstanding of TCM culture.

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Employee ActivitiesDevelopment and TrainingAutowell places a high value on balancing employees'work and per-sonal life. The Company organizes a variety of employee activities, suchas Spring Festival couplet writing, hiking events, table tennis competi-tions, billiards tournaments, badminton matches, and e-sports com-petitions. These activities enrich employees'leisure time and enhanceteamwork and cohesion within the Company.

By implementing training systems such as the Autowell Training Management System, theAutowellCourse Management System, and theAutowell Lecturer Management System, and aligning withthe needs of employees at di?erent positions, levels, and stages of development, the Company hasgradually improved its talent development and training system. Additionally, we provide E-learningplatforms to broaden employees'learning channels and enrich learning resources for continuousself-improvement.

New year badminton exchange match

Spring Festival couplets writing

Hiking event

Reading festival

Table tennis competition

E-sports competition

Employee Training

Regularly organize onboarding training, safety training, corporate culture training, and job skill en-hancement courses to help newly hired experienced employees quickly integrate into the Companyand familiarize themselves with operational management models and policies.

? Graduate training system: The Company has developed a dedicated “Qingsong Program” forgraduate training, which includes military training, intensive training, job rotations, and profes-sional development, cultivating new graduates into specialized talents in speci?c ?elds or posi-tions. In 2024, we organized

11graduate training sessions, attended by

1,100

participants.? Management trainee training system: Through rotations and hands-on practice across depart-ments or business units, and senior leadership coaching, we have developed a 3-year “War-styleGuide Training” system to train management trainees into management talent reserves with abroad strategic perspective.

Newly hired experienced employees

Newly hired graduate employees

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? Provide regular specialized skill enhancement training based on business needs, suchasOmron Training for electrical skills, Mechanical Drawing Design Standards, 3D Model-ing Standards, Zero-Cost Machiningand other mechanical skills,Supply Chain System

training, and online and o?ine career development programs.? Organize external public courses or seminars as needed based on business scenarios.? Conduct specialized talent training programs based on business development needs,such as the 2024 Product Engineer Bootcamp and Corporate Management Bootcamp,covering

participants.

? Provide leadership training for supervisors and managers, covering areas such as human

resource management, strategy decoding, goal management and plan execution, coach-

ing leadership, quality decision-making, and team canvas, all aimed at supporting busi-

ness growth and improving internal management capabilities.? In 2024, we organized 2

“Xiaomi Entrepreneurship Thoughts” book sharing sessions,

involving 92 managers.

The Company organizes the annual online and offline capability enhancement camp forfrontline team leaders, implementing a “Learn-Examine-Evaluate” development mecha-nism. Special courses on areas such as frontline production management, lean management,and quality management are o?ered to e?ectively enhance the on-site management capabil-ities of frontline team leaders.

To precisely identify and nurture high-performance, high-potential key talent, we estab-lished the HIPO Program for High-Potential Talent to select and accelerate the develop-ment of highly promising individuals, creating a robust talent pool to continuously providehigh-quality talents for various business sectors.

Existing employees

Managerial employees

High-potential employees

Frontline team leaders

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Vocational Skills Enhancement TrainingInternal Lecturer DevelopmentTo elevate the quality of technical talent development, Autowell meticulouslyorganized an intensive vocational skills enhancement training program in2024. This training primarily targeted employees in frontline manufacturing,engineering, and R&D positions, focusing on three key trades: assembly fit-ters, electricians, and CNC milling operators. The program was structured intotwo levels—senior workers and technicians. With strong support from theCompany’s leadership, the General Administration Department meticulouslyplanned and e?ciently provided the training, ensuring its smooth implemen-tation. As a result,

new skilled personnel were certi?ed this year, includ-ing

technicians and

senior workers, with an impressive exam passrate of93%. This outcome highlights the signi?cant impact of the trainingprogram, reinforcing our skilled talent pipeline.

In 2024, we launched our ?rst internal trainer certi?cation and appointment pro-gram. Through a multi-step process—including registration, preliminary review,training, trial lectures, and final assessment—a group of outstanding lecturersfrom various business domains was successfully certi?ed. This initiative fostersknowledge transfer, facilitates experience sharing, and enhances overall employ-ee competency.During the reporting period, the internal lecturer program accumulated a total of

training hours, reaching

participants.

Graduate and Management Trainee Training Programs

Trainer Appointment CeremonyProduct Training Bootcamp

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Autowell has established a dual-track career development frameworkencompassing both management and specialist pathways. Based onmanagement levels, the Company has de?ned corresponding promotionstandards and criteria. Employees can choose their career paths accord-ing to their interests, abilities, and professional aspirations. To supportcareer growth, we provide career planning and development assistance.By assessing targeted job groups and benchmarking them against tal-ent pro?les, we systematically identify employees'skill gaps, determinetraining directions, and customize training programs, while continuouslyre?ning these programs.

We have developed 43 quali?cationstandards across different sub-tracks and levels, identifying over170 core competencies. They clearlyde?ne the fundamental job require-ments, performance expectations,knowledge areas, and behavioralcompetencies necessary for em-ployee selection and promotion,ensuring science-based and clearevaluation standards.

In 2024, we launched a pilot selectionprogram within the R&D department,leveraging qualification standards toimplement a diversified evaluationmodel. The selection process inte-grates theoretical assessments, casestudies, and in-person presentationreviews, ensuring a more compre-hensive and objective assessmentof technical talent and maintaininghigh-quality selection.

Promotion Management

Professional track promo-tion standards

Pilot selection in the pro-fessional track

19,832

124.5

971,800

4,041.50

18.3

15,790.5

81.7

Total employee training hours(hours)

Training hours for new employees(hours)

Proportion of mid-level managerstrained (%)

Training hours for female employees(hours)

Training hours for male employees(hours)

Total investment in employee train-ing (RMB)

Proportion of new employeestrained (%)

Training hours for mid-level man-agement (hours)

Proportion of female employeestrained (%)

Percentage of male employeestrained (%)

Employee Training Performance

Employee Promotion

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员工通过走管理通道，承担更多责任来实现职位晋升，成为更高层次的管理人员。

Employees sharpen their skills and accumulate experienceat specified posts to grow into a specialist in a particular?eld. For the purpose of growing with employees, we fullyleverage various resources and conditions to provide train-ing and development opportunities for employees, helpingthem tap into their potential completely.

Employees in the management track take on more re-sponsibility to get a promotion and become a higher-levelmanager.

ManagementChannel

Manager in an organization: Planning, organizing, leadership,control, and performing other functions to coordinate andlead team members towards meeting the set targets.

Specialists: Specialists are the pivot of corporate development.They have an impressive educational background, rich professionalknowledge and experience, and a great capacity to learn.

TechnologicalChannel

P18

P16

M1 AssociateManagerM2 SupervisorM3 SeniorSupervisorM4 DeputyManager

M8 DirectorM9 Senior Director

M10 DeputyGeneral Manager

M11 GeneralManagerM7 Vice DirectorM5 ManagerM6 Senior Manager

P12

P15P10

P13

P9P8 Senior Engineer/SpecialistP14 ExpertP17 Chief ExpertP19 Scientist

P11 Senior Sta?Engineer/Specialist

P7

Dual-track career developmentmechanism

Management

Specialist

Sta? Member

Supervisor

DirectorManager

Growth PathGrowth Path

Junior Engineer

Middle-levelEngineer

Senior Engi-neer

Senior Sta?

Engineer

Principal Engi-neer

P1-----P6

Job Classi?cation System

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Occupational Health and SafetyOccupational HealthManagement

Autowell strictly complies with laws and regulationssuch as theLaw of the People’s Republic of China onthe Prevention and Control of Occupational Diseases,

theJiangsu Province Work Safety Regulations,and the

Wuxi City Work Safety Regulations. The Company hasalso established internal policies, including theMan-agement System on Occupational Disease Control, theOHS Education System,and theManagement Systemfor Accident Involving Heavy Casualties,to regulateoccupational health management.In 2024, we successfully passed the annual surveil-lance audit for the ISO 45001 Occupational Healthand Safety Management System.

Occupational Health Management InitiativesAssessment and updates of occupational

hazard factors

Regularly evaluate and update occupational hazard factors, while comprehensively inspecting pro-duction processes and equipment. This ensures the timely identi?cation and recognition of potentialoccupational hazards, e?ectively preventing occupational contraindications and diseases.

Minimizing occupational disease exposure

risks

? Continuously upgrade technologies to minimize occupational hazards in high-risk positions andjob types.? Ensure that all purchased personal protective equipment (PPE) and safety facilities meet regulatoryrequirements, and conduct regular maintenance and upgrades.? Consistently optimize the management of hazardous substances, dust, noise, and other workplaceenvironmental factors to e?ectively reduce occupational disease exposure risks.

Occupational health checkups

? Put in place a comprehensive occupational health monitoring system, covering pre-employment,

periodic, post-employment, and emergency health examinations to ensure e?ective health moni-toring at all stages of employment.? Establish individual occupational health records for each employee, systematically documenting

medical examination results and health conditions to provide a scienti?c basis for occupationalhealth management.

Optimization of external evaluations

Regularly engage third-party organizations to conduct occupational health and safety assessments,further ensuring work safety.During the reporting period, no new cases of occupational diseases were recorded, and the occupational health ex-amination rate for designated positions reached100%.4647

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Work Safety ManagementWork Safety Management FrameworkAutowell strictly adheres to theLaw of the People’s Republic of China on Work Safety, theMeasures for the Administration of Contingency Plans for Work Safety Accidents, and theEmergency Response Law, among other laws and regulations. We have introduced various safety policies, including theWork Safety Accountability System, theWork Safety InspectionSystem, and theWork Safety Target Management System. We have established a comprehensive safety management system, with a Work Safety Committee spanning from the Gener-al Manager to functional departments to fully implement safety responsibilities. Under the leadership of the committee, we have successfully met our safety targets and obtained thelevel III Standardized Work Safety Certi?cation.

During the reporting period, we recorded no work safety accidents.

Trade Unions

Responsible Parties

Human Resources De-partment

General ManagementDepartment

Product ManagementDepartmentR&D Center

Manufacturing Center

Engineering ServicesDepartment

Sales Department

Strategic ProcurementDepartment

Process InformationDepartment

Quality DepartmentFinance Department

Safety Supervisors

Organizational Structure of the Work Safety Committee

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Emergency Management for Work Safety IncidentsAt Autowell, we place great emphasis on emergency management for work safety incidents. We have developed various emergency management regulations, including theRegula-tions on Emergency Response, and the Accident Emergency Response Management System, to standardize and re?ne emergency response procedures. Meanwhile, we have estab-lished a crisis response team, comprising management personnel, the General Administration Department, the Manufacturing Center, and the Finance Department. By clearly de?n-ing the responsibilities of each department, we ensure a swift response and e?cient resource mobilization to prevent and mitigate major work safety incidents.

Work safety emergency management measures

Safety hazard inspections

? Establish a systematic hazard inspection mechanism, conduct weekly routine inspections. Identi?ed issues are promptly reported to the re-sponsible departments for recti?cation, followed by a review of corrective actions, and the summary and analysis of hazard reports and recti-?cation outcomes.? Conduct regular specialized inspections, covering electricity safety, ?re safety, and seasonal risk factors (e.g., summer and winter-speci?c haz-ards) to ensure comprehensive risk control.? During the reporting period, we achieved a

100%

recti?cation rate for identi?ed safety hazards.Safety signs

? Display safety warning signs and knowledge posters throughout production workshops and factory areas to continuously remind employeesof safety risks, preventing accidents caused by negligence.Emergency drills for work safety

? Organize regular emergency drills to strengthen employees'ability to respond to safety risks.? During the reporting period, we organized

emergency drills, with a total of

635 participants.

4849

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Hazardous Chemicals ManagementThe Company has strictly complied with theRegulations on the Safety Management of Hazardous Chemicalsand other relevant laws and regulations, and formulated theHazardousChemicals Safety Management System. We have continuously strengthened the safety management of hazardous chemicals to ensure the prevention of accidents such as ?re, explo-sion, and toxic hazards during the transportation, storage, production, and usage of hazardous substances, safeguarding the lives, property, and overall safety of both the Companyand employees.

Procurement WarehousingStorage And CustodyWaste DisposalUsage ManagementUsage Control

Require suppliers to

provide materials such

as product quali?-

cation certi?cates

and safety technical

data sheets (SDS) for

hazardous chemicals

to ensure compliance

and transparency in

chemical sourcing.

Conduct dual-per-son veri?cation tocheck the consistencybetween materialsand documents, andinspect packagingconditions, productquali?cation certif-icates, and qualitydocumentation.

Engage licensed en-tities with hazardouswaste managementpermits for profession-al disposal.

Strictly adhere to safetyoperating proceduresduring hazardous chem-ical use. Maintain properventilation to prevent toxicgas accumulation. Im-plement explosion-proofdesigns or isolationprotection measures forequipment, devices, andsystems in operationalareas.

Department users mustcomplete required ap-proval procedures beforehazardous chemicals areissued. Inspect contain-ers before and after useto con?rm no residue ordamage.

Classify chemicals by theirproperties and store themin designated explo-sion-proof cabinets. Imple-ment designated personnelmanagement, conductregular inspections, andimmediately activate thehazardous chemical anom-aly response plan upon de-tecting abnormalities, withsimultaneous reporting tothe Work Safety Commit-tee.

Full-process hazardous chemicals management

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Work Safety Accident Prevention Training

The Company places a high premium on occupational health and safety educa-tion. We conduct a wide range of education and publicity activities such as worksafety accountability training, work injury prevention training, risk classificationand control and hidden hazard investigation and management education, worksafety month activities and ?re prevention month series. Through these initiatives,we have comprehensively improved the safety awareness and skills of the staff,and integrated safety philosophies into our corporate culture, fostering an envi-ronment where every employee prioritizes and actively participates in safety man-agement.

To enhance employees'awareness and capability in work safety, we con-ducted work safety accident prevention training. Employees were edu-cated on the de?nition, classi?cation, causes, and characteristics of worksafety accidents, and prevention measures for mechanical injuries, elec-trical hazards, and other workplace risks. These training activities haveequipped employees with the knowledge to identify potential hazards,and signi?cantly reduced the likelihood of work safety accidents.

Occupational Health and SafetyEducation

86.5

4,861

100%

Total training hours

Total training sessionsTraining coverage rate

Total participants

Occupational health and safety training data in 2024

hours

times

person-times

5051

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Products and Services

Quality is critical to the Company, just as the water that bears the boat is thesame that swallows it up.No nonconforming raw materials; No defective products; No delivery of defectiveproducts.Humility, Attentiveness, and Professionalism.Systematic developmentEstablish a comprehensive quality management system to enhance e?ciency.Process standardization

De?ne universal elements to ensure repeatability in quality management.Integration of systems and processesOptimize internal management by harmonizing systematic and standardizedprocesses.Personnel trainingImprove the overall competency of standardized operations personnel.

Quality managementphilosophy“Three Nos” principle ofquality managementClient service phi-losophyQuality management

goals

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Responsible Procurement

Autowell implements source control measures for product quality by establishing a rigorous supplier quality management system and enforcing strict supply chain product qualitystandards. The Company also provides specialized quality training for procurement personnel to raise their quality awareness.

? Suppliers are required to fol-low a set of quality controlprotocols, manufacturingproducts in accordance withour technical and qualitystandards.? Suppliers must establishrobust quality managementsystems, conducting strictinspections of raw materi-als, semi-?nished products,and ?nal products. They arealso required to regularlyreview and optimize theirquality management sys-tems to improve productionquality.

? Preference is given tosuppliers that have ob-tained quality manage-ment system certi?ca-tions such as ISO 9001.? During the reportingperiod, 62 suppliers wereISO 9001 certi?ed.

? Products comply with nation-al and industry standards andare accompanied by valid pro-duction licenses and testingreports.? The stability and reliability of

product quality, with suppliersassuming full quality assur-ance responsibility.? A comprehensive quality

traceability system is in place,making sure that qualityissues can be traced back toresponsible individuals andthat timely corrective actionsare taken.

? A well-de?ned non-conformingproduct management mech-anism is in place to isolatenon-conforming products,preventing them from enteringthe market.? Root cause analysis is conduct-ed to accurately identify thesource of defects and formulatetargeted corrective solutions.? Depending on the nature andquantity of defective products,appropriate rework, scrapping,or repurposing measures areimplemented, ensuring that allactions align with environmen-tal standards.? Information on processed

non-conforming products isshared with relevant depart-ments, enabling proactive issueresolution and continuousoptimization of production andquality control measures.

? We provide training and

assessments for procurementpersonnel, covering topics suchas supplier selection, qualitycontrol, negotiation techniques,and contract management.Performance assessments arequanti?ed based on procure-ment quality metrics, incen-tivizing procurement sta? tocontinuously enhance theirwork quality.

We sign quality assuranceagreements with suppliers toclearly define their quality re-sponsibilities and obligations,ensuring:

Supplier qualitycontrol procedures

Supplier quality sys-

tem certi?cation

Supplier quality

agreements

Response mechanism forsupplier’s non-conformingproducts

Quality training for pro-

curement personnel

5253

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Product Quality ManagementAutowell strictly complies with theProduct Quality Law of the People’s Republic of Chinaand other relevant regulations, and has established quality control systems, includingthe Materials Inspection, theProcess Quality Control, and theDelivery Quality Control.Byimplementing the Plan-Do-Check-Act (PDCA) quality management model, we have built afull-lifecycle quality management mechanism covering segments from supply chain man-agement to after-sales services, continuously improving our product quality and qualitymanagement capabilities to maintain our competitive edge in the market.

The Company emphasizes a systematic approach to quality management andstrictly adheres to the ISO 9001 Quality Management System certi?cation require-ments. By establishing a quality and safety responsibility system, we ensure thatall employees at every level effectively fulfill their quality and safety responsi-bilities. Additionally, we integrate quality control throughout the entire productlifecycle, from understanding client needs, research and development (R&D), pro-cess engineering, procurement, production, to end-of-life product management,ensuring all products consistently meet quality standards.

During the reporting period, Autowell and its subsidiaries—ATW Intelligent Equip-ment, ATW XuRi, and Leddo Technology—successfully passed the annual valida-tion of the GB/T 19001-2016 Quality Management System. Meanwhile, two othersubsidiaries, ATW Coshin and Qinhuangdao Zhiyuan, obtained certi?cation underthe same system, and SCEC renewed its certi?cation.

Autowell has established a three-level quality and safety responsibility system, forminga three-level quality and safety commitment mechanism. This system clearly de?nes thequality responsibilities and operational standards for the General Manager, departmentheads, team leaders, and employees, ensuring the strict ful?llment and implementationof quality and safety responsibilities.

General Managers: Those who take primary responsibility for quality

Department managers: Those who take main

responsibility for quality

Second-line management

and frontline employees:

Those directly responsible

for quality

Quality Commitment Mechanism

Quality Management System

Level 1Level 2Level 3

Supplier ManagementProcess Quality ControlTraceability Management

Procurement ManagementDelivery Quality ControlAftersales Service

Materials InspectionNon-conforming Prod-uct ManagementImprovement on ClientFeedbackComprehensive Product Quality Management System

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Successfully Passed Annual Validation in 2024

ATWATW Intelligent EquipmentATW XuRiLeddo Technology

Through diverse quality assurance and improvement initiatives, the Companymaintains strict control over product and service quality, fostering a culture ofcompany-wide engagement in continuous quality improvement, and consistentlyenhancing the quality of its products and services.Quality Assurance and Improvement

Obtained Certi?cation in 2024Renewed the Certi?cation in 2024

ATW CoshinQinhuangdao ZhiyuanSCEC

Quality Assurance MeasuresChief Quality O?cer

The Company has implemented a Chief Quality Officer (CQO) system, grantingthe CQO veto power over any event a?ecting quality and safety in the product re-alization process. This strengthens quality management authority and enhancesenforcement.Dedicated QualityControl Personnel

To reinforce product quality and safety control, we have established “In-ProcessInspection” positions. These professionals focus on and monitor critical produc-tion stages that signi?cantly impact product quality, ensuring that every productmeets high standards.Full-process QualityControl

Guided by our business performance, we have analyzed the entire value chainacross all business touchpoints, with a focus on “end-to-end” business pro-cesses. We clearly define management, operational, and support processes,improve our institutional framework, and designs tiered business authoritystructures. By integrating process execution into our system, we ensure seamlessalignment between processes and quality management systems, strengtheningvalue-chain-wide quality control and enhancing operational e?ciency and man-agement capabilities.Quality CommitmentAssurance

We sign theTechnical Agreementswith our consumers, explicitly defining keyproduct performance indicators, after-sales services, training provisions, andquality assurance commitments to fully safeguard client rights and interests.Resource Security

We have introduced 237 pieces of laboratory equipment, enabling researchin areas such as mechanical and electronic measurement, material and me-chanical testing, electrical and control system testing, process calibrationand inspection, environmental and metrological testing, physical and opticalinstrumentation, and laser processing.5455

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Continuous Improvement Initiative

We recorded a product quali?cation rate of

99.05%

, up by

1.5%

from2023, higher than the target set at the beginning of the year.We collected a total of6,067pieces of online feedback in total through theOA system, e?ectively improving the product quality and operational e?-ciency, and resulting a total cost saving of RMB

12.551

million. in costs.

Implement quality improvement initiatives to continuously enhance product quality, strengthen process assurance, and achieve ze-ro-defect product management.Established theContinuous Improvement management process, encouraging company-wide participation in optimizing key areas,including product quality, information security, client feedback management, KPI assessments, and audit results.Formulate the RationalProposal Improvement Process,encouraging employees to submit suggestions for product and managementenhancements.

In response to client feedback regarding issues with our PV stringers, in-cluding air hose melting in the cell handling area and cracking in batchesnear the fan inside the cabinet within one year of operation, we promptlyconducted a thorough investigation into the root causes, and implementedtargeted improvement measures. After these optimizations, all reportedissues were fully resolved. Additionally, we have incorporated client re-quirements into the R&D and design phase, implementing standardizedimprovements and optimizations from the source to ensure continuousenhancement of product quality and client satisfaction.

In 2024

Quality im-provementinitiatives

Quality management en-

hancement programsContinuous improvement

initiatives

Rational proposals

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Quality Audit Mechanism

Process monitoringStarting from raw material pro-curement, we enforce stringentselection standards to ensurematerials meet high-quality re-quirements. During production,we leverage a comprehensive in-spection system to monitor eachmanufacturing process. Upondelivery, we follow high-stan-dard acceptance protocols. Forpost-sales, we have establisheda robust feedback mechanism topromptly address client con-cerns. Through full-process qual-ity control, potential defects areeliminated, ensuring premiumproducts and services for clients.

Internal auditsTo ensure the e?ective operationof the quality management sys-tem, we conduct internal auditscovering all stages and aspectsof product quality. Once issuesare identi?ed, we urge relevantparties to take corrective mea-sures, and implement correctiveor preventive actions to preventrecurrence.

External certi?cationsIn addition to quality manage-ment system certi?cations, ourproducts have complied with in-ternational standards (e.g., thosein the EU and the US), been certi-?ed by international certi?cationbodies such as TUV and Intertek,and obtained CE and EAC certi?-cates. Furthermore, our productshave secured market accessauthorization in North America.

TUV Product Certi?cation5657

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Product Recall Management

Daily Client Service

The Company has established theNon-Conforming Product Management

process, which explicitly requires that any defective products identifiedby consumers must be recalled or inspected on-site. This process is ledby the Engineering Services Department, with support from the Sales De-partment and Quality Department, to track and verify all consumer-sideproducts, including those in-transit. We ensure that all non-conformingproducts in production are properly identi?ed, isolated, and recorded. Incases where non-conforming products have resulted in consumer losses,we conduct case-specific assessments and formulate appropriate com-pensation plans.Furthermore, we have implemented theRegulations on Emergency Re-sponse, and theInternal Reporting System for Important Information,

and set up the Crisis Management Team responsible for handling majorproduct quality incidents, ensuring timely and effective control of nega-tive impacts. Additionally, in the event of a major quality incident, we willpromptly report the response progress and ?nal resolution to local govern-ment authorities, ensuring transparency and seamless communication.

Exceptional client service is a powerful tool for attracting new clients and expanding marketshare. It also serves as a key foundation for strengthening relationships with existing consumersand enhancing client loyalty. By providing high-quality, personalized service experiences, theCompany meets diverse client needs, fostering greater satisfaction and trust.

We maintain close cooperation with consumers through non-scheduled follow-ups and on-line and o?ine communication, ensuring timely responses to client needs and feedback.

Client Service Management

Daily client service mechanismUnderstandingand response

Client communica-tion channels

Understand client needs through channels such as client visits, phone calls,and online interactions, monitor equipment performance, and provideprompt support and solutions.Rapid response toclient needs

Continuously create value for clients. When clients require on-site assis-tance, we swiftly dispatch sales, R&D, and engineering teams to addressissues and ensure operational continuity.

Communicationand resolution

Information sharingmechanism

Ensure seamless collaboration among production, sales, and R&D depart-ments to eliminate repetitive work resulting from information gaps, im-prove decision-making e?ciency, and accelerate issue resolution.Three-party report-ing mechanism

Implement a three-party reporting system to facilitate e?cient communica-tion and collaboration, ensuring swift resolution of client concerns.

Number of Recalled ProductsNumber of Complaints Related toProducts and Services

Major Safety and Quality Liabili-

ty Incidents

Product Recall Data in 2024

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After-Sales Client ServiceAutowell has established a comprehensive end-to-end service system, covering pre-sales, in-sales, and after-sales stages. The Company is committed to delivering e?cient, profes-sional, and prompt support, comprehensively enhancing client experience. To further improve service quality, we have implemented a supervisory inspection mechanism, conduct-ing random checks on sales personnel’s response to client inquiries. Additionally, we adopt a project management, analysis, and review system to ensure e?ective follow-ups andstrengthen our service reputation.

? We have set up an after-sales support middle o?ce team, which is responsible for client pre-sales training and service process introduction to ensure that clients fullyunderstand the products and services.? Rationally allocate resources based on project requirements, with a designated project manager and a specialized project team formulating detailed project plansand targets, ensuring a smooth project launch.

? The project manager is responsible for overall coordination, involving personnel allocation, planning, and progress tracking, providing real-time updates on projectprogress and issues.? The project supervisor assists the project manager in ensuring e?cient achievement of project indicators and targets. Through standardized processes, a three-partyreporting mechanism, and regular client visits, we can understand client needs promptly, enabling swift responses and adjustments to guarantee high-quality projectdelivery.

? The technical service team o?ers round-the-clock remote support, ensuring prompt resolution of consumer issues. For urgent matters, on-site assistance is provided

within 24 hours domestically and 72 hours internationally.? The project supervisor conducts regular follow-ups, monitoring equipment performance, identifying client needs, and fostering strong consumer relationships.? Through our WeChat o?cial account, clients can access comprehensive technical documents such as regular updates on equipment maintenance, troubleshootingguides, debugging techniques, and product introduction, empowering them to maximize operational e?ciency.

Pre-sales

In-sales

After-sales

5859

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The project manager responds to the complaint immediately, identi?es thelevel of severity, and escalates to a higher level.Maintain e?ective communication among the client, the on-site team, andthe back o?ce (engineering, sales, and R&D).The after-sales team communicates with the person in charge on the clientside.Formulate the solutions and send them to the client on the same day.Push forward the progress until the issue is solved.Follow up with the client and review the communication.In response to the client complaint, we draw up improvement and optimiza-tion plans promptly and implement them e?ectively.

Step1Step2Step3Step4Step5Step6Step7

Client complaint response mechanism

100%100%Client Complaint Reso-lution Rate

Client Complaint Re-sponse RateClient Complaint Reso-lution Performance

Responsible MarketingTo ensure that marketing activities comply with market regulations, the Companystrictly adheres to national and local laws and regulations while upholding the principleof compliant operation with integrity. We strictly follow industry standards and activelymaintain a fair and orderly business environment.With“Operations with Integrity”as our core ethical guideline, we have establishedsystems such as theBidding Management,theSupplier Management,and the Anti-Cor-ruption Agreements. Additionally, our dual-layer compliance mechanism—consistingof an in-house legal department and external legal advisors—ensures that all productmarketing activities remain lawful, compliant, and well-regulated.In terms of brand crisis handling, we adhere to the 5S principle for brand crisis response,which is “the principle of Shouldering the Matter, Sincerity, Speed, System and Stan-dard”, and have formulated a brand crisis response mechanism to protect the reputa-tion and image of our brand.

The 5S principleSTANDARD

SINCERITY

SYSTEMSPEED

SHOULDERTHE MATTER

During the reportingperiod, we had noviolation of the reg-ulations on productand service informa-tion and trademarkidenti?cation.Since the inception,we have not record-ed any brand crisis.

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Enhancing Product AccessibilityTo improve client experience and support better understanding and utilization of its products, the Company customizes training programs based on clients'technical capabilities andbusiness stages. This ensures that clients at di?erent levels can acquire product knowledge tailored to their needs. Additionally, we have introduced one-stop intelligent module inter-connection solutions, enabling process and technology upgrades, reducing barriers to product usage, and enhancing product accessibility.

? Provide consumers with intelligent, e?cient, and reliable PV equipment solutions, covering four major production stages—rod, wafer, cell, and module—with cus-

tomizable and combinable con?gurations tailored to client needs.? O?er independently developed customized lithium-ion battery module/intelligent PACK assembly solutions designed for new energy power and energy storageapplications. These solutions boast stability, e?ciency, safety, and energy conservation, meeting diverse client needs.? Provide comprehensive training programs across pre-sales, in-sales, and after-sales stages, ensuring clients master product usage skills at every stage.

? Our large-size cell stringers not only meet client technical requirements but also o?er multi-process selection, reducing the impact of external environmental fac-

tors on client operations.? We have fully upgraded our multi-point equipment at the module end and introduced the latest smart module packaging interconnection solution. With a vision

to build fully automated or minimally sta?ed smart factories, we provide one-stop solutions for module interconnection.

? Our platform-based technology enables compatibility with multiple processes, supporting TOPCon, HJT, BC and other cell types. Our technology optimization fur-

ther reduces costs and improves product availability.? Our 0BB stringer equipment has undergone technical iteration and optimization, successfully achieving cost reduction and e?ciency enhancement in mass pro-

duction, lowering the barrier for product usage and enhancing accessibility.

Customizedproduct solu-tions

One-stop mod-

ule packagingsolutions

Process andtechnology

iteration and

optimization

6061

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Client Training

In 2024, we designed customized training programs for our latest PVstring layup and bussing machine, addressing specific client needs.The training covered areas such as theoretical principles, and hands-onequipment operation. After the training, trainees successfully masteredprofessional skills such as model switching, cell string precision adjust-ment, and welding optimization, laying a solid foundation for futureequipment installation and operation.

To gain in-depth insights into client satisfaction and feedback, the Companyconducted client satisfaction surveys covering multiple perspectives, includingproduct quality, service quality, delivery performance, and pricing. In 2024, bothdomestic and overseas client satisfaction rates reached100%.

In 2024, our outstanding product quality and exceptional service earned highrecognition and awards from leading industry consumers.

Graduation group photo PV string layup and bussing machineClient Training in 2024

Our training covered

clients, attended by a total of 125 person-times

Client Satisfaction

100%100%Overseas Clients Satis-faction Rate

Domestic Client Satis-faction Rate

Globally Excellent Partner Award Outstanding Coopera-

tion Award

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295%

1.5

Number of training ses-sions on data securityand client privacy

Coverage rate of data se-curity and client privacytraining

Average data security and client privacy train-ing hours per capita

The Company emphasizes client data security and management, and has built a comprehensive information securityprotection system through system development and continuous optimization. We have introduced the ISO 27001 Infor-mation Security Management System, establishing a standardized system that includes theCon?dentiality ManagementSystem and the Information System Access Control Standards, and embedding client privacy protection requirementsinto all management systems. During the reporting period, we recorded no client data breaches.At the technical level, we have implemented multi-dimensional security measures, including strict access control, clientdocument encryption, and antivirus software deployment, e?ectively mitigating risks of client data leaks. At the person-nel management level, we place strong emphasis on raising awareness of information security among employees.During the reporting period, we conducted two specialized training sessions on data security and client privacyprotection, covering95%of employees and signi?cantly improving their awareness and practical informationsecurity skills.

Client Privacy Protection

times

hours per capita

6263

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Focus on innovation-driven development in high-output, high-yield, intelligent, andcompatible products, continuously optimize low-oxygen crystal growth furnace, wirebonders, AOI inspection equipment, and aluminum wire bonders.

Strengthen R&D resource management, establish a cross-departmental collaborativeinnovation mechanism, and enhance R&D efficiency to ensure a closed-loop cycle oftechnological breakthroughs and commercial value. Deepen the “PV+” technologyecosystem, leveraging an intelligent and digital R&D system to deliver high-value-addedgreen products, contributing to the global community’s carbon neutrality goal.

Autowell follows a “three-in-one” product strategy, embracing the development philosophy of “marketing the current generation, developing the next, and reserving the future”.With technological innovation as the core driving force, we are deeply engaged in the global transition to a low-carbon economy. We focus on the R&D of critical equipment in the PVindustry chain, continuously increasing R&D investments. By leveraging core technology platforms, we optimize our product portfolio, drive clean energy technology advancements,help consumers reduce their carbon footprints, and accelerate the global transition to green energy.In 2024, we established the “TA Project Team”, dedicated to recruiting top-tier talent and assigning a project leader to each innovation task. We allocated necessary resources andde?ned details such as clear goals, timelines, measurement and evaluation department, monitoring frequency and indicators, and evaluation criteria for each innovation project.Additionally, we provided strategic support in terms of resource coordination and personnel training.

Innovation-Driven Development

R&D Innovation Strategy

Short-Term GoalsLong-Term Goals

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At Autowell, we place great emphasis on building and re?ning our R&D management system, continuously strengthening our innovation capabilities through multi-dimensional andsystematic initiatives. In terms of R&D platform management, we are committed to developing an e?cient and collaborative technology R&D platform to integrate resources, optimizeprocesses, and enhance e?ciency. In terms of institutional system, we continuously improve our R&D management system, clarify roles and responsibilities, and standardize R&D pro-cesses to ensure that innovation activities remain standardized and sustainable. Meanwhile, we actively explore and re?ne our R&D models, fostering cross-departmental collabora-tion and open innovation to respond ?exibly and e?ciently to market changes and technological challenges. Through these measures, we have gradually established a science-basedand highly e?cient R&D innovation system, laying a solid foundation for continuous technological breakthroughs and product advancements.

R&D management model

Rejected

R&D Innovation Management System

Project monitoring and management

ProjectrequestEndedProject initiationmanagement

Project budget man-agement

Project implementa-tion management

Project settlement

management

ApprovedApprovedCompleted

6465

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To comprehensively enhance its technological innovation capabilities, the Company has built afull-spectrum innovation platform covering management, technology R&D, and industrialization ofinnovation outcomes. This platform is designed to create a seamless innovation chain from tech-nology exploration to industrial deployment, ensuring sustained technological advancements andcommercial applications.

The company continues to strengthen R&D innovation, with R&D expenditures of 2024 reaching RMB

430.3609

million, an increase of RMB

103.0532

million year-over-year, accounting for 4.68%

of annual operating revenue.Additionally,the company maintains a highly educated and skilled R&D team. As of end-2024, R&Dpersonnel totaled 1,065, representing

21.71%

year-on-year growth.

To build a scientific and efficient innovation and R&D system, the Companyhas systematically advanced system development, covering various perspec-tives such as project lifecycle management, innovation incentive mechanisms,R&D performance assessments, and company-wide innovation participation.We have formulated and implemented a series of management systems, in-cluding theProject Initiation and Management Process, theProject RewardSystem, the Performance Appraisal System, theReward System for RationalSuggestions, and the Technology Personnel Training System. These policiesprovide a standardized and sustainable institutional framework to support in-novation and R&D activities.

3 key management bodies—the Project Management Committee, Standardization Manage-ment Committee, and Experimental Center Management Committee—are responsible for coor-dinating and making strategic decisions on major technological and management innovations.

This platform comprises 3 major innovation hubs—the Jiangsu Engineering TechnologyResearch Center, Jiangsu Enterprise Technology Center, and Jiangsu Postdoctoral ResearchBase—to bring together industry, academia, and research resources, continuously advancingnew products and technologies in line with market needs and our corporate strategies.

With a focus on PV, semiconductors, and lithium batteries, this platform integrates expertise inmechanical, electrical, electronic, optical, machine vision, robotics, and computer technolo-gies. It comprises 12 laboratories, equipped with state-of-the-art devices such as non-destruc-tive cutters, nanosecond infrared lasers, and Beckho? systems, providing a solid foundation fortechnological innovation.

“3+12+3” R&D Innovation Platform

R&D Innovation Investment

R&D Manage-ment Platform

TechnologyInnovation Plat-

form

TechnologyIndustrialization

Platform

Development of R&D and Innovation Systems

Innovation incentive systemPurpose

Targetedemployees

Talent Recommendation Reward System

for all Employees

Recommend external professionalsAll employees

Sci-tech Talent Training System

Motivate improvement of technical

capabilities

All employeesLi Wen Craftsman Cup Evaluation

Major technological innovationsand breakthroughs

All employees

Rational Suggestion Reward System

Motivate product optimization and

technological upgrade

All employeesPatent Reward System

Solidify and protect technical

achievements

R&D personnelScienti?c Research Project Reward

System

Motivate innovation of R&D projects

and technologies

R&D personnelTalent Promotion System

Management and professional skills

improvement

R&D personnelReward System for OrganizedImplementation of Sci-Tech

Achievements

Encourage the transformation of

sci-tech achievements

R&D personnel

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The Company consistently prioritizes technological innovation and client needs as its core driving forces. Centered around product lines and supported by digital IT solutions, wehave developed an innovation and R&D model featuring “One Focus and Five Transformations”. This client-centric mode helps enhance innovation e?ciency and commercializa-tion capabilities through the standardization, digitization, collaboration, intelligence, and agility of the R&D process. It provides systematic support for technological breakthroughsand product upgrade.

R&D and Innovation Model

Focus on independent innovation

? Adhering to high-end product positioning? Ecosystem-based quality management? Integrating upstream and downstreamquality management, with comprehensivecorporate management? Panoramic information platform (SAP)? Strategic operation and management

OneFocus

FiveTransfor-mations

Productplanning

CustomizationIndependentR&DProduct opti-mization

Project man-agement

TechnologyR&D

Platform de-velopment

R&D ModelSalescontractCorporatestrategy

Technologicaldevelopment

Product R&DOne Focus

and FiveTransformations

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As an innovation-driven enterprise, our company has established a comprehensive R&D system consisting of four fundamental supporting technologies and eleven core ap-plication technologies through continuous high-intensity R&D investment. These technologies have been implemented across multiple key products in our main businessoperations, forming our core product portfolio covering photovoltaic wafers, solar cells, and module components. To maintain the leading edge of our core technologies, weconsistently monitor technological advancements throughout the photovoltaic industry chain, electrochemical energy storage supply chain, and semiconductor packagingand testing sector, with particular emphasis on emerging processes and innovative technologies in downstream applications. Through years of sustained R&D investmentand technological accumulation, we have developed proprietary core technological capabilities in photovoltaic module string welding, solar cell processing, silicon waferprecision inspection, monocrystalline silicon ingot growth, lithium battery/energy storage module assembly, and semiconductor wire bonding.

During the reporting period, the company had 18 R&D projects in progress, including 2 sub-tasks under the National Key R&D Program (Sub-task Nos.: 2023YFB4202603-5,2023YFB4202605-03).

Innovation Technology Reserves and Ongoing R&D Projects

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R&D and Innovation InitiativesThe Company has implemented a series of systematic initiatives to enhance innovation e?ciency and technology commercialization, including optimizing the organizational structure,establishing innovation incentive mechanisms, implementing full-lifecycle project management, and conducting regular reviews and evaluations.

? We have established the “TA Project Team”, dedicated to

recruiting high-end talent.? Each innovation project is assigned a dedicated project

leader, responsible for setting innovation goals, progress

plans, measurement and evaluation departments, monitor-

ing frequency and indicators, and assessment standards.

Set up the dedicated Project Management Department tooversee R&D projects through their entire lifecycle, coveringproject initiation, planning, execution, and completion. By im-plementing science-based process controls and rigorous prog-ress monitoring, the department ensures that each R&D projectadvances e?ciently, meets deadlines, and achieves the targetsin a high-quality manner.

We regularly convene work meetings to comprehensively as-sess sales, products, and R&D progress. Through in-depth anal-ysis of market trends and emerging process technologies, weensure that R&D activities remain closely aligned with marketdemands.

In collaboration with Nanjing University of Science and Tech-nology, we have jointly applied for the Jiangsu ProvincialIndustry and Information Technology Department’s “Manu-facturing Powerhouse 1650 Specialized Project”, conductingcoordinated technical research. Through industry-educationintegration and collaborative innovation, we leverage comple-mentary resources to further enhance our technological inno-vation capabilities.

? The Talent Development Center, in collaboration with businessunits, has built a key position course map aligned with R&Dposition track requirements. Through focused discussions andworkshops, the center de?nes career paths and learning needs,while guiding industry experts in extracting replicable coreknowledge. In 2024, we introduced external R&D professionalcourses, such as the Systematic Learning Map DevelopmentProject, to equip R&D personnel with fundamental knowledge,specialized skills, and related tools, enhancing R&D e?ciencyand quality.? In 2024, 90% of R&D personnel participated in training pro-grams, accumulating a total of 75 training hours.

? Motivate employees by o?ering ?nancial incentives and incor-porating patent applications into position-level evaluations,fostering creativity.? Continuously improve design R&D and innovation proposals,and organize quarterly R&D innovation awards.? Launch the annual R&D Innovation Incentive Program, featur-ing the “Autowell Star” R&D and Innovation Award, to stim-ulate the team

’

s innovation vitality and highlight the value ofinnovation.

Optimizing the innovationR&D organizational structure

Full-lifecycle project man-

agement

R&D talent development

Regular reviews and evalua-

tions

Multi-dimensional innovation incen-

tive mechanism

Industry-academia-research collabo-

ration

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R&D Innovation Achievements

As an industry pioneer in technological innovation, Autowell continuously drives the commercialization of innovation, transforming numerous cutting-edge research achievementsinto highly competitive products. These innovations help clients reduce costs and improve e?ciency, accelerate technological advancements, and inject strong momentum into in-dustry development.Key product linesCommercialization achievements

PV

Over10%increase in production e?ciency for whole-line capacity in metallization, enablingclients to develop and mass-produce new high-e?ciency cell application technologies.The 0BB process stringer helps clients reduce silver consumption by more than

10%.Breakthroughs in BC process equipment contribute to power output increases of at least

5%.Equipment is designed to leverage high-capacity advantages.Semiconductors

Our wire bonding-related equipment has achieved world-leading performance and has beengranted

utility model patents.Silicon ingot

The oxygen content control technology of silicon ingots produced by SCEC equipment isworld-leading.In 2024, the intelligent ultra-low-oxygen crystal growth furnace was recognized as a first-setmajor technical equipment in the Suzhou-Wuxi-Changzhou region.Lithium-ion battery

The next-generation intelligent prismatic cell EES modules/PACK assembly line, developed forthe CTP process, has improved production e?ciency by over

60%.

AutowellSecond Prize of JiangsuProvincial Science and

Technology Award

AutowellFirst Prize of 2024 Science andTechnology Award Recognizedby the Jiangsu MechanicalEngineering Society

ATW XuRiWuxi Engineering TechnologyResearch Center

ATW XuRiSpecialized and InnovativeSME in Jiangsu Province

SCECSpecialized and InnovativeSME in Jiangsu Province

Innovation Awards

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IPR Protection

IPR System Development

The Company has been committed to an innovation-driven development philosophy, and recognized intellectual property right (IPR) protection as a crucial part of its sustainabledevelopment strategy. We strictly comply with the Patent Law of the People’s Republic of Chinaand other relevant laws and regulations. By actively applying for patents and softwarecopyrights, we ensure comprehensive IPR protection, safeguarding our innovation-driven growth.Since 2016, when we ?rst obtained national IPR management system certi?cation, we have maintained e?ective system operation and established a dedicated IPR team. The teamcurrently consists of 11IPR engineers, including

patent attorney quali?cation holders, and

Jiangsu Provincial IPR Engineer Training Certi?cation holders.

In terms of institutional development, toenhance the standardized managementof internal IPRs, we have established acomprehensive IPR management systembased on the national standardEnterpriseIntellectual Property Management (GB/T29490-2013).This system includes theIPRManagement Measures, theTrademarkManagement Regulations,thePatentManagement Regulations, and the IPR Re-ward System, among others.

IPR Management Measures

Patent Management System

Trademark Management System

Copyright Management System

Business Secret ManagementSystem

Reward System for RationalSuggestionsIPR Reward System

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IPR Management

The Company has established an IPR database and ensured systematic management and dedicated funding. By implementing a patent planning and decision-making mechanismalongside a risk warning system, we provide robust legal protection for our research achievements, strengthen the IPR protection framework, and facilitate the compliant transforma-tion and value realization of innovations.

Full-process man-

agementThroughout the entireprocess from productR&D and design tosubsequent optimiza-tion and improvement,relevant departmentsare responsible for or-ganizing new structures,methods, processes, orcon?dential businessinformation. After inter-nal approval, they cansubmit applications tothe IPR Department.

Review and evalua-

tion

The IPR Department re-views and evaluates therelevant technologiesfor which IPRs are to beobtained and archivesall records related tothe acquisition process.

Documentation andreviewThe IPR Department isresponsible for draftingand reviewing docu-ments related to IPRacquisition procedures.

Prevention-oriented

approachConduct routinemonitoring and earlywarning of patent risksto identify and mitigatepotential risks at anearly stage.

Coordinated collab-

oration

The Compliance Man-agement Department,R&D Department, andMarketing Departmentwork closely together torespond to patent risks.

Science-based deci-

sion-makingTailor rational responsestrategies for speci?csituations based onobjective facts andprofessional analysisto ensure e?ective andfeasible measures.

Contract review

The IPR Departmentreviews key provisionsof IPR licensing andtransfer agreements.

Management MechanismPatent planning and decision-making mechanismPatent risk warning and emergency response mechanism

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To enhance employees'capabilities and awareness regarding IPR application and pro-tection, we have developed a specialized IPR training program. The training covers avariety of topics, including business secret protection for all employees, practical train-ing on overseas patent applications and infringement case analysis for the IPR team,and patent documentation interpretation and design avoidance training for the R&Dteam. Through these targeted training sessions, we have e?ectively improved the pro-fessional skills and con?dentiality awareness of employees in di?erent roles, therebylaying a solid foundation for our IP management.

To establish a comprehensive information management system covering the entire busi-ness process, including marketing, product R&D, manufacturing, and quality control, theCompany has built an order lifecycle collaboration management system driven by clientneeds. This initiative promotes the profound integration of business process standard-ization with informatization.In accordance with two national standards,GB/T23001-2017Integration of Informati-zation and Industrialization ManagementSystems—Requirementsand the GB/T23006-2022Integration of Informatization andIndustrialization Management Systems—Re-quirements for Enhanced Capability Grading,we have systematically developed a man-agement system that integrates informati-zation and industrialization. This system hasembedded information technology deeplyinto various operational and productionprocesses, significantly enhancing businesscoordination e?ciency and management ef-fectiveness. Following a rigorous evaluation,we successfully obtained our ?rst Integrationof Informatization and Industrialization Man-agement System Certi?cate in July 2021, andrenewed it in August 2024 after the initialcerti?cation expired, marking a new phase inour digital transformation journey.

New Additions in 2024TotalNew ApplicationsNew GrantsApplicationsGrantsInvention Patents132149658260Utility Model Patents4851701,8391,368

Design Patents2396Software Copyrights6723174128Others 3540212209Total7213852,8921,971

Integration of Informatization andIndustrialization

Digitalized and Systematic Management

Integration of Informatization and IndustrializationManagement System Certi?cate

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We continue to advance our “Smart Manufacturing” strategic plan. With visualization, digitalization, and intelligence as the development goals, we have deeply integrated innova-tion factors in digital technologies, process innovation and organizational structure. By deploying advanced digital and intelligent technology platforms, we have comprehensivelyupgraded our production processes and systematically optimized business work?ows, signi?cantly enhancing the intelligence level of our manufacturing system. During the reportingperiod, centered around our SAP system, we continuously optimized the ?ve key IT systems—OA (O?ce Automation), SRM & MCS (Supplier Relationship Management & Manufactur-ing Control System), WMS (Warehouse Management System), HRM (Human Resource Management), and E-learning, ensuring seamless connectivity between master data and busi-ness data.

Digitalization Development Initiatives

Achievementsin promotingintelligentlogistics center

Integrate resources for centralized allocation toimprove e?ciency and reduce fault tolerance.

Uni?ed allocation, e?cient distribution plus GPS positioning

Eliminate quality hazards caused by storageenvironment and manage storage of materials in the?rst-in, ?rst-out principle.

Integrate factory sites and ensure standard and tidysurrounding environment.

Optimize management

Logistics and transportation

Improve quality

Improve 5S management

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At Autowell, we advocate responsi-ble procurement. We have formulat-ed a series of supplier managementpolicies, including theSupplierManagement and Relationships

and theSupplier Developmentand Approval,which de?ne therequirements for supplier admis-sion, review and other processes.Additionally, we organize suppliertraining and empowerment activ-ities to foster mutual growth andachieve win-win cooperation withour suppliers.

? We leverage multiple channels to gather supplier information, including but not limited to online platforms, direc-tories, phone inquiries, newspapers, magazines, and industry journals.? Additionally, we accept direct supplier submissions and recommendations from third-party organizations, ex-panding our information sources and enhancing our understanding of potential suppliers.

? After acquiring supplier information, we conduct thorough veri?cation to ensure authenticity.? We assess the category, style, and quality, other factors of the supplier’s products to determine thelevel of compatibility with our business needs, ensuring selected suppliers align with our operation-al requirements.

? We collect key documentation from suppliers, including company pro?le, business license, organization codecerti?cate, tax registration certi?cate, credit certi?cation proof, product brochures, and contact details, to gain adeeper understanding of the supplier’s quali?cations and operations.

? We conduct supplier interviews and investigations to verify the authenticity of submitted documents. On thisbasis, we perform a comprehensive supplier evaluation and accurately ?ll out the Supplier Admission EvaluationForm and Supplier Review Form.? We will establish formal cooperation with suppliers that meet evaluation standards, while those failing to meetthe requirements will be recorded in the non-approved supplier database.

To ensure the high quality and sta-bility of our supply chain, we haveestablished a standardized supplieradmission mechanism, strengthen-ing product quality control at thesource.

Supplier Admission Process

Supplier Development PrinciplesSupply ChainManagement

Supplier Developmentand Admission

Win-win Cooperation

Supplier information acquisition

Supplier matching and screening

Supplier documentation collection

Comprehensive evaluation and review

? If a competitor is using the sup-plier, it may be considered, buta clear explanation is required.? Agent-based suppliers must

have their quali?cations veri-?ed with the authorizing entitybefore approval.? For equipment components,

we prioritize direct manufactur-ers over intermediaries.

Acceptable type

? Suppliers introduced or oper-ated by former employees aregenerally not considered.? Suppliers established for less

than one year are generally notconsidered.

Non-acceptable type

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The Company places a high premium on daily supplier management by continuously enhancing its supplier oversight capabilities through initiatives such as the establishment of acomprehensive supplier database, a regular supplier performance evaluation mechanism, and digital supplier management tools.

We have actively developeda comprehensive supplierdatabase, which includes sup-plier company names, contactdetails, and product o?erings,ensuring a deep understand-ing of supplier information.

To ensure supply chainquality and stability, wehave implemented a regularsupplier performance evalua-tion mechanism. We conductobjective and comprehensiveassessments based on key cri-teria such as product qualityand on-time delivery. Theseevaluations provide a reliablebasis for our procurementdecisions and incentivizesuppliers to continuouslyimprove their products andservices.

We rank suppliers basedon procurement spend-ing, categorize them intothree types (type 1, type2, and type 3) and imple-ment classi?ed suppliermanagement in terms ofquality, costs, evaluation,etc.

We maintain close com-munication with suppliersand collaborate on busi-ness planning. We activelydiscuss problem-solvingstrategies with them, en-courage them to proposeinnovative ideas, andwork together to improvesupply chain e?ciency,achieving mutual bene?tsand win-win results.

Leveraging digitalizationand information technolo-gy, we have implementedthe Supplier RelationshipManagement (SRM) systemto digitize suppliers'infor-mation such as basic infor-mation, quali?cations, andevaluations. This systemenhances the transparencyand e?ciency of suppliermanagement.

Daily Supplier Management

A comprehensive suppli-

er database

Regular supplier perfor-mance evaluation

Supplier classi?cationmanagement

Enhanced supplier com-munication

Digital supplier manage-ment system

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The Company conducts supplier assessments based on thePeriodic Supplier Performance Evaluation Form(for standard parts and processed parts). Through on-site inspections andother evaluation methods, we regularly assess supplier quality control, delivery capabilities, and compliance, ensuring an up-to-date understanding of suppliers'operational condi-tions. Additionally, we implement targeted supervision and review measures for di?erent types of suppliers and adjust cooperation strategies based on evaluation results.Supplier Supervision and Review

Supplier supervision and auditsKey audit pointsAudit requirementsQuality control systemSuppliers must establish a comprehensive quality control system to ensure product consistency and stability.Flexible delivery capabilityWe value suppliers'?exible delivery capability, meaning they are able to maintain timely deliveries even during demand surges, ensuring supply stability.Compliance risk assessmentWe strictly inspect supplier compliance, requiring adherence to laws, business ethics, and environmental regulations to minimize compliance risks.

Standardparts supplier

supervision

Level

Level AA≥80Give priority tothe supplier innew productdevelopment

Lower the levelof priority innew productdevelopment

(1) Suspend new product

development;

(2) Ask the supplier to make

improvements and discuss with thesupplier on the subsequent productquality management plan andimprovement plan.

(1) Suspend new product development;

(2) Ask the supplier to make

improvements and discuss with thesupplier on the subsequent productquality management plan andimprovement plan. If the supplier fails tomove to Level C, it will be removed fromthe List of Quali?ed Suppliers.

65≤B＜8050≤B＜65D＜50Level BLevel CLevel DScore

Cooperationmodel

Supervision Mechanism for Standard Parts Suppliers

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Unlike standard parts suppliers, Autowell placesspecial emphasis on the information security man-agement capabilities of its process parts suppliers.To ensure e?ective control of supply chain informa-tion security risks, we conduct an information se-curity management assessment for these suppliersevery six months.

To enhance suppliers'overall capabilities and enable them to better support our business development, we have imple-mented various supplier empowerment initiatives, including regular supplier conferences, best practice sharing, andtraining programs, continuously strengthening supplier competitiveness and innovation capacity. Supplier Empowerment

Step1

Step2

Step3

Information security audits for processed parts

suppliersHold discussions and draw upcontinuous improvement plans,which can be implemented afterbeing con?rmed by SQE.

SQE keeps records or visits thesupplier to verify whether theimprovements meet speci?crequirements.According to the improvementstatus, update the List ofQuali?ed Suppliers so as tobuild a harmonious supply chainecosystem.

We value close collaboration with both primary and auxiliary material suppliers. We hold regularon-site meetings to discuss key topics such as product performance, application trends, newproduct developments, and stability. This deep engagement fosters mutual growth and ensures ahighly e?cient and stable supply chain.During the reporting period, we held our annual supplier conference under the theme“Together Through Challenges, Advancing Hand in Hand”. The event brought together

suppliers, whose cumulative procurement volume accounted for

61%of our annualtotal.? We conduct on-site visits to industry-leading suppliers, drawing on advance practices and thensharing them with other suppliers for improvement.? We select key suppliers to monitor the implementation of enhancement measures, assess theire?ectiveness, and continuously tracks progress. These e?orts are rolled out in phases to im-prove supplier capabilities and ensure high-quality material supply.

We carefully design and deliver professional training courses tailored for key supplier personnel,e?ectively enhancing their operational execution, management skills, and suppliers'core competi-tiveness.

Regular Communica-

tions

During the reporting period, we visited

top-performing suppliers, extracting

keyimprovement measures for broader adoption. Additionally, we selected

key suppliersfor improvement implementation. In 2024, our material inspection pass rate improved by

1.3%

compared to 2023, successfully achieving our quality improvement target.

Supplier Manage-ment EnhancementMeasures

Supplier Training

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Sustainable Supply ChainThe Company actively promotes the sustainable development of its supply chain by setting requirements for suppliers in areas such as environmental performance, employee rightsand interests protection, and occupational health and safety. We have put in place a strict evaluation and assessment system to ensure suppliers adhere to corporate social responsi-bility and sustainability principles.

Building a Sustainable Supply Chain

Green Procurement

? Establish strict environmental and energy e?ciency assessment standards for suppliers, and evaluate them based on energy consumption, emissions control, resource utilization, and other envi-ronmental performance factors to ensure that e?ective environmental protection and energy conservation measures are implemented during their production.? Give priority to suppliers with green product certi?cations and eco-friendly raw material certi?cations, procure green equipment, such as PV equipment and lithium-ion battery equipment, as wellas environmentally friendly metals, non-metal materials, and recyclable materials, ensuring compliance with our environmental standards from the source. As of now, we have obtained multiplegreen procurement certi?cations.

Responsible Procure-

ment

? Ensure that suppliers uphold ethical standards, including fair labor practices and human rights protection.? Require suppliers to adhere to the principle of equality, oppose all forms of discrimination, and guarantee employees'equal rights and opportunities in recruitment, training, promotion, and otherstages; Conduct regular audits and assessments on suppliers'employee management practices, and those found engaging in discriminatory behavior will face contract termination or other correc-tive actions.? Maintain transparency in procurement processes and supplier relationships to ensure transparent supply chain operations.? Leverage procurement decisions as a lever for social equity and positive community impact, supporting economic development in supplier communities.

Occupational Health

and Safety

? Establish supplier health and safety assessment standards, covering areas such as work environment, safety facilities, and employee health monitoring, to ensure suppliers provide a safe and

healthy workplace for their employees.? Conduct health and safety inspections during the supplier selection process to verify compliance with our health and safety requirements.? Sign safety agreements with suppliers, clearly de?ning mutual responsibilities and obligations regarding employee health and safety, and ensuring that suppliers strictly comply with relevant regu-lations and our requirements during production.

Transparent Procure-

ment

? Require suppliers to sign the Supplier Integrity Agreement, which explicitly outlines their responsibilities and obligations regarding ethical integrity, including compliance with laws and regulations,

prohibition of commercial bribery, and the establishment of anti-corruption policies.? Implement a comprehensive supplier evaluation mechanism to regularly assess and monitor suppliers for ethical integrity, including business ethics, contract ful?llment, and after-sales service

quality.

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215,417

Responsible (Green) procurement forstandard parts (RMB 10,000)

Number of standard parts suppliers certi-?ed with ISO 14001

suppliers

Sustainable supply chain performance in 2024At the supplier development stage, we recognize sustainabilityfactors as key evaluation criteria, such as whether or not it hasobtained the ISO 14001 environmental management systemcertification, etc. We conduct comprehensive assessmentsof the ESG performance of our suppliers to ensure that theycomply with our standards and requirements in terms of en-vironmental protection, social responsibility and corporategovernance.

We put in place a strict exit mechanism for suppliers. Once asupplier is found to exhibit serious ESG problems, we will dealwith it in accordance with the exit mechanism, including warn-ings, suspension of cooperation, termination of contracts andother measures.

For underperforming suppliers, we provide guidance and im-provement measures to help them address de?ciencies.For suppliers with outstanding ESG performance, we o?er ad-ditional cooperation opportunities and preferential policies toencourage continuous improvement in ESG practices.

We implement a dynamic ESG assessment mechanism to en-sure that suppliers continuously comply with sustainability re-quirements in their daily operations. Assessment methods in-clude regular audits, on-site inspections, and surveys to gain acomprehensive understanding of suppliers'ESG performance.

Development Stage

Exit MechanismIncentives and Guidance

Assessment and

Evaluation forSustainable Sup-ply Chain Perfor-

mance

Daily Assessment

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In addition to sustainability performance assessments, we enhance suppliers'aware-ness and capabilities through measures such as targeted sustainability trainingprograms and awareness campaigns, fostering sustainable development across thesupply chain.

Empowerment for the Sustainable Supply Chain

Sustainability Agreement Signing

Incorporate ESG standards into supply chain agreements, clearlydefining the responsibilities and obligations of both parties toraise suppliers'ESG awareness.

Targeted ESG Training

Conduct specialized sustainability training programs on topicssuch as energy conservation and carbon reduction technologies,employee welfare, corporate governance structures, and busi-ness ethics and integrity. These programs educate suppliers onthe importance of sustainable development, related regulationsand policy requirements, and best practice cases, strengtheningtheir sustainability management capabilities.

ESG Awareness and Education

Share our ESG philosophies and practice outcomes with sup-pliers and other stakeholders through regular ESG reports, ESGforums, and other activities, promoting sustainable developmentacross the entire supply chain ecosystem.

5130Total Supplier ESGTraining Hours

Total Pparticipants of SupplierESG Traininghoursperson-times

Supply Chain StabilityAutowell is committed to ensuring a stable and secure supply chain, with signi?cantprogress in local procurement. To e?ectively mitigate potential risks arising from sup-ply disruptions, we adopt proactive planning and ?exible responses.

Over 48% of our key suppliers are based in Jiangsu Prov-ince, covering critical segments such as raw material sup-ply, parts manufacturing, and logistics, strongly supportingthe stable operation of our production lines.

? To reduce regional risks and align with the trend of domes-tic sourcing, we are actively expanding our supplier base inother regions.? Focus on developing high-quality domestic suppliers tooptimize the supply chain deployment and enhance ourstability.? Develop inventory plans for bottleneck materials and long-lead-time items based on annual sales forecasts.? Implement multi-source development and reserve strate-gies for core materials and low-volume structural parts.? Regularly monitor supplier capacity to ensure supply sta-bility.? Adjust procurement strategies based on monitoring re-

sults, ensuring stable material supply and delivery.

Local procurement im-

plementation

Expanding supplier re-

sources

Adopting ?exible pro-curement strategies

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Contributing to Industry Development Promoting Communication across the Industrial Chain

Total number of standardparts suppliers

Number of standard partssuppliers in Jiangsu Prov-

ince

Number of new standardparts suppliers

suppliers

suppliers

suppliers

Local procurement perfor-

mance in 2024

Annual Supplier Partner Appreciation Event

The Company has established stable and sound cooperative relationships with both upstream and downstream partners in the industrialchain, facilitating communication and collaboration, and actively promoting industry-wide synergy and development.

During the reporting period, we held our Annual Supplier Partner Appreciation Event under the theme “Together ThroughChallenges, Advancing Hand in Hand”. We summarized our supplier cooperation for the year, outlined expectations for fu-ture collaborations, addressed suppliers'concerns, and awarded suppliers with outstanding performance during the report-ing period.

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Receiving the Fudan Entrepreneur Delegation

Receiving the China Photovoltaic Industry Association DelegationReceiving Research Visits

We actively host on-site research visits from industry-related departments andpersonnel, showcasing our technological achievements, helping them under-stand the technological advancements and plans in both the Company and theindustry, and providing opportunities for further collaboration.

In April 2024, we hosted the Fudan Entrepreneur Delegationto visit the battery and module production workshops andthe product exhibition hall. We provided a detailed intro-duction to the production processes, technology R&D, andmarket applications of PV products, and engaged in in-depthdiscussions on future cooperation prospects, the latest ad-vancements in PV technology, market trends, and necessaryadjustments.

In October 2024, to gain deeper insights into the technological devel-opment of the PV industry and assist relevant ministries in formulat-ing the 14th Five-Year Plan, the China Photovoltaic Industry Associa-tion’s expert delegation conducted an on-site survey at the Company.We led the delegation through our cell and module equipment man-ufacturing center and exhibition hall, o?ering detailed explanationson the technology R&D and market applications of our core products.We also shared our development roadmap and provided a compre-hensive showcase of our excellent achievements in the intelligent PVequipment sector. This visit provided valuable support for both sidein discussing industry trends and promoting the healthy and orderlydevelopment of the industry.

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Participation in the China International PV and Energy StorageIndustry Conference

Participation in the EESA China International Energy StorageExpo

Participation in Industry Events

The Company actively participates in various industry events, such as seminars, and exhibitions, to showcase its cutting-edge technological achievements, engage in in-depth com-munication and discussions with other companies in the industry, work together to explore the path of technological innovation, and jointly promote industry development.

In November 2024, as a renowned intelligent equipment manufacturerin the PV, energy storage, and semiconductor sectors, we participatedin the 7th China International PV and Energy Storage Industry Con-ference. Our representative delivered a speech on the key equipmentdeployment in the PV and energy storage industry chain, integratedintelligent manufacturing of hardware and software, and SCEC’sthird-generation high-quality intelligent crystal growth equipment. Wealso shared and discussed technological developments and trendswith industry partners, exploring potential business synergies.

In September 2024, we participated in the 3rd China InternationalEnergy Storage Expo held at the National Exhibition and Conven-tion Center in Shanghai. At the Expo, we showcased our innovativetechnologies and exceptional product strength, engaging with pro-fessionals and attendees to discuss the latest technologies and de-velopment ideas in the energy storage ?eld, and contributing to thedeep integration and high-quality development of the new energyindustry. During the award dinner, we were honored with the “MostIn?uential Company Award 2024”.

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Participation in the 2024 SEMICON CHINA, a huge event inthe semiconductor industry

Participation in the Indonesia International Solar Pow-er Exhibition

In March 2024, we participated in SEMICON CHINA, the world’slargest and most prestigious annual semiconductor industry event.As a competitive semiconductor equipment supplier in China, weshowcased our hybrid module copper wire bonders, multi-functiondie bonders, and fully automated laser cutters. We joined globalsuppliers and service providers in the semiconductor industry toshare insights into industry developments and cutting-edge tech-nological advancements.In March 2024, the Indonesia International Solar Power Exhibitionwas held in Jakarta. Our core overseas team showcased a range ofintelligent PV manufacturing equipment and industry solutions,and engaged with professional visitors and industry peers to dis-cuss the development trends and innovative technologies in thesolar PV sector.

The Company adheres to its long-term mission of “Build Smart Factory with NewTechnologies, Drive Global Intelligent Manufacturing”. We actively participate in in-dustry exchanges and exhibitions in countries and regions such as Indonesia, Turkey,Europe, and the United States. With a panoramic perspective, we are optimizing oursupply chain deployment, product o?erings, and international development strate-gies, while promoting global industry technological advancements and market devel-opment.

Strengthening International Communication

8485

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Participation in the SOLAREX ISTANBULParticipation in the Intersolar EuropeIn April 2024, the SOLAREX ISTANBUL took place at the IstanbulExpo Center. We exhibited a variety of intelligent PV equipment,innovative energy storage module/PACK assembly lines, and smartmanufacturing system solutions. We engaged in in-depth discus-sions and exchanges with attendees, sharing our experiences andinsights while actively absorbing new ideas and technologies fromthe industry. We are committed to working together with industrypartners in Turkey and globally to contribute to the green energymovement worldwide.

At the international exhibition held in Munich in June 2024, weshowcased our intelligent manufacturing solutions covering theentire PV industry chain. These solutions span from silicon crystalgrowth, silicon wafer manufacturing, battery production, to PVmodule packaging. We comprehensively demonstrated our strongtechnological capabilities and innovative achievements in the ?eldof intelligent PV manufacturing.During the event, our professional team led visitors through de-tailed presentations and dynamic demonstrations, providing an in-depth understanding of how our innovative technologies supporte?cient production, quality improvement, and cost control in thePV industry. Our demonstration highlighted the limitless potentialand broad application prospects of our innovative technologies.

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Participation in RE+, the U.S. International SolarEnergy ExhibitionIn September 2024, the RE+ U.S. International Solar Energy Exhibitionwas successfully held at the Anaheim Convention Center in California.For the first time, we set up dual booths for PV and energy storage,showcasing our latest intelligent manufacturing solutions and o?eringprofound insights into the future energy transition.In the same month, we were invited to participate in the “How toManufacture Solar Wafers, Cells and Modules Competitively in theUnited States” seminar, co-hosted by RE+ and TaiyangNews. Duringthe seminar, our representative gave a presentation focusing on ourinnovative achievements and forward-looking strategies in PV manu-facturing, and engaged in in-depth exchanges with participants.

The Company has always upheld the principles of integrity in business operationsand tax payments in accordance with the law, strictly adhering to the Enterprise In-come Tax Law of the People’s Republic of China and other relevant tax laws and reg-ulations. We fully ful?ll our tax obligations and actively contribute to a fair and trans-parent tax environment through compliant operations and proactive participation intax policy implementation. Looking ahead, we will continue to adhere to lawful taxpractices, ful?ll our corporate social responsibilities, and make greater contributionsto the sustainable economic and social development.

Tax Compliance and LawfulContributions

Social Contributions

Tax Payments in the Latest Three Years

20222023

RMB 0.26 billion

RMB 0.64 billion

RMB 0.75 billion

20248687

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Autowell has established an e?ective communication and engagement mechanismwith local communities. The Company regularly interacts with community repre-sentatives and neighborhood committees to understand community needs andconcerns. We actively participate in community meetings and events, listen to resi-dents'feedback and suggestions, and provide support for community development.During the reporting period, we donated children’s playground equipment to Chun-chao No. 3 Community, contributing to the harmonious co-building of the commu-nity.

Autowell actively supports local employment by providing job opportunities andtraining programs for local community members. Local residents are given priorityin recruitment to expand employment opportunities within the region. Addition-ally, we organize vocational training and skill enhancement programs to improveresidents'employability.

Community Co-Building

Strengthening Community Engagement

Promoting Local Employment

Community playground donation

We also collaborate closely with local vocational schools through indus-try-academia-research initiatives, establishing the Autowell IntelligentManufacturing Academy to provide students with internship and employ-ment opportunities.

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Social Welfare Public Welfare DonationsAutowell is committed to social welfare initiatives, addressing the needs of various social groups andactively engaging in areas such as education, poverty alleviation, environmental protection, and com-munity services through charitable donations. In recognition of our dedication to philanthropy, wehave been awarded the “Charitable and Caring Enterprise” title.During the reporting period, we contributed RMB

1.8983

million to charitable and public welfarecauses.

Children’s Day Donation Initiative

Social WelfareDonation Initia-tivesEducationSector

SocialSectorWe actively donate educational suppliesto local primary and secondary schools,establish scholarships and ?nancial aid pro-grams, and support students in completingtheir education. As a member of the localeducation development foundation, wemake monetary donations to foster region-al educational development.

We donated children’s

playground facilities tolocal communities, contrib-uting to the creation of aharmonious and friendlycommunity environment.

Volunteer ActivitiesAutowell encourages employees to actively participate in volunteerservice initiatives and has established a dedicated volunteer team tocontinuously contribute to society. These volunteer activities span vari-ous ?elds, including poverty alleviation, environmental protection, andcommunity services, with employees dedicating their free time to servingthose in need.Participation in the Youth Volunteer Recognition Program

In March 2024, coinciding with the 61st anniversary ofLearning from Lei Feng Day and the 25th China YouthVolunteer Service Day, the Local District’s Youth LeagueCommittee and Wangzhuang Subdistrict O?ce jointlylaunched the “Promoting Lei Feng Spirit, Shining Youth-ful Light” themed event to inherit the Lei Feng spirit andthe “Xinwu District Youth Volunteer Recognition Program

2.0” launch event. Our Youth Volunteer Service Team

joined the “Screw Team” Youth Volunteer Group, ac-tively embracing the Lei Feng spirit, and fostering a strongvolunteer culture within the Company.

8889

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Participation in the “Acts of Kindness Under the Sun” Charity WalkIn May 2024, our employees participated in the “Acts of Kindness Un-der the Sun – 2024 Wuxi Charity Carnival & Eco-Friendly Charity Walk”event, held at the Taihu International Expo Center. Alongside nearly2,000 philanthropists from charity organizations, and public institutionsand private enterprises, our employees promoted public welfare andenvironmental sustainability through an eco-friendly, waste-free walk.The event featured environmental protection-themed checkpoints,encouraging participants to adopt low-carbon and eco-conscious life-styles. During the walk, our employees actively promoted environmen-tal protection knowledge, advocated for green travel, and helped raisefunds for the “Angel Project”, an initiative dedicated to supportingchildren in di?cult circumstances by ful?lling their small wishes, o?er-ing humanitarian care, and providing medical assistance.

Caring for Llonely EeldersOn Chongyang Festival (Double Ninth Festival) in2024, our employees visited Wangzhuang SeniorCare Center, where they prepared and servedhandmade dumplings for lonely elders, sharingfestive greetings and warmth. This initiative notonly provided a sense of belonging and care forthe elderly but also allowed our employees toexperience the joy of giving, reinforcing the tradi-tional Chinese values of respecting and caring forthe elderly.

Total volunteering hoursTotal volunteers

hoursvolunteers

Employee Volunteer Activities Statis-

tics in 2024

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Corporate Governance Internal Control and Risk ManagementCompliant Operations and Tax Management???

??Anti-commercial BriberyAnti-Unfair CompetitionGovernance

Align with the SDGsResponse to Issues

Governance Strategy

OrganizationalStructure

CorporateGovernanceAutowell places great emphasis on corporate gov-ernance. We strictly adhere to theCompany Lawof the People’s Republic of China,theSecuritiesLaw of the People’s Republic of China, theCode ofCorporate Governance for Listed Companies, the

Rules Governing the Listing of Stocks on the STARMarket of the Shanghai Stock Exchange,and otherrelevant laws and regulations. We also fully meetother regulatory requirements issued by the Chi-na Securities Regulatory Commission (CSRC) con-cerning corporate governance for listed compa-nies. On this basis, we continuously enhance ourcorporate governance system and optimize thegovernance structures of the Shareholders'Meet-ing, Board of Directors, and Supervisory Board.In our strategic decision-making process, we takeinto account internal and external environments,legal and regulatory requirements, and stakehold-er expectations, ensuring clear governance goals.We also strengthen internal control, enhancedisclosure transparency, reinforce stakeholdercommunication, and continuously optimize andinnovate our governance practices.Currently, our governance complies with all ap-plicable laws, regulations, and CSRC regulatoryrequirements.

A rational and rigorous governance structure is fundamental to the Company’s e?cient operationsand serves as a solid foundation for its long-term development. We have established a governancestructure centered on the Shareholders'Meeting, Board of Directors, Supervisory Board, and themanagement, formed a governance mechanism featuring clear division of labor, clear authority andresponsibility, coordinated operations, and checks and balances among the decision-making body,the supervisory body and the management, and a governance and management structure that isclosely interconnected and e?ciently synergistic.

Our organizational structure

Shareholders'Meeting

Strategy and ESG

CommitteeRemuneration andAppraisal CommitteeNomination CommitteeAudit Committee

Supervisory Board

Secretary of theBoard of Directors

Board of Directors

General Manager

Securities InvestmentDept

ATW IntelligentEquipmentLeddo TechnologyATW Supply ChainATW XuRiSCECATW CoshinZhiyuan EquipmentATW JiexinPolar PVWuxi PolarAutowell (Singapore)

Autowell (Japan)

R&D Center

Strategic ProcurementDepartmentSales CenterManufacturing CenterQuality DepartmentProcess InformationDepartment

Engineering ServicesCenter

General ManagementDepartmentHR DepartmentFinance CenterRisk Control and AuditDepartment

CFO

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Governance of the Three MajorCorporate BodiesShareholders and the Shareholders'Meeting

Directors and the Board of Directors

Board E?ectiveness Evaluation

The Shareholders'Meeting is the Company’s highest authority, responsible for re-viewing and approving major corporate decisions. We strictly follow theArticles ofAssociation, the Rules of Procedure for the Shareholders'Meeting, and relevant lawsand regulations when convening Shareholders'Meetings. Voting is conducted on-site and through a combination of on-site and online forms.The Shareholders'Meeting follows a strict recusal and authorization system, ensur-ing that all shareholders, particularly minority shareholders, have equal standingand can fully exercise their rights to information, participation, and voting. Mean-while, the controlling shareholders and actual controllers uphold the principle ofintegrity, conscientiously fulfilling their obligations. Throughout our operations,there have been no incidents that harm the legitimate rights and interests of theCompany or other shareholders.

The Board of Directors serves as the executive body of the Shareholders'Meeting, respon-sible for decision-making on the Company’s development goals and major operationalactivities. All directors actively study relevant laws and regulations, fully understandtheir rights and responsibilities, and diligently attend board meetings, specialized com-mittee meetings, and the Shareholders'Meeting to safeguard the legitimate rights andinterests of the Company and all shareholders. The Strategy and ESG Committee, AuditCommittee, Remuneration and Appraisal Committee, and Nomination Committee un-der the Board of Directors perform their professional functions in accordance with theirrespective work guidelines, fully leveraging their expertise to conduct in-depth researchand review of relevant matters. Together, they provide strong professional support for theBoard’s science-based decision-making, e?ectively enhancing our corporate governancestandards.

Number of the Sharehold-ers'Meetings

Total board meetingsNumber of resolutions discussed

and reviewed at board meetings

Number of resolutions rejected at board meetingsNumber of resolutions rejected at the Shareholders'Meeting

Total resolutions discussed and reviewedat the Shareholders'Meeting

9293

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Independent DirectorsBoard DiversityThe Company highly values the indispensable role of independent directors inenhancing the science-based and e?ective decision-making of the Board andimproving corporate governance. We strictly comply with theMeasures for theAdministration of Independent Directors of Listed Companies and other rele-vant laws and regulations, as well as internal governance documents such astheArticles of Association, theIndependent Director System, and theWorkingRules of the Independent Directors'Dedicated Meetings. We have establishedindependent director positions and dedicated meetings, actively cooperatingwith independent directors in performing their duties, and providing themwith independent o?ce space and conditions during on-site work, informationnecessary for understanding the situation of the Company, and space and ma-terials necessary for their dedicated meetings.Upholding diligence and responsibility, independent directors attend all boardmeetings as required, participate in the Shareholders'Meeting, and activelyengage in discussions and decision-making on major corporate matters. Theyalso maintain close communication with internal audit institutions and exter-nal accounting firms, conduct regular on-site inspections, and interact withminority shareholders to comprehensively check and oversee the Compa-ny’s operations, ?nancial health, management, and internal control systems,among others. For key matters such as related-party transactions, director andsenior management remuneration, and the appointment of accounting ?rms,independent directors provide objective, prudent, and impartial professionalopinions. During the reporting period, they also participated in ongoing train-ing programs for listed companies'independent directors, further enhancingtheir ability to ful?ll their duties.

The Company is committed to maintaining board diversity, considering factors such as gender,age, educational background, professional expertise, work experience, and cultural backgroundin the selection of director candidates. Currently, among the 9members of the fourth Board ofDirectors, there are 2 females, 8 aged 50 and above, and members with diverse professional back-grounds, including technology, ?nance, management, accounting, and law. Each director contrib-utes to corporate decision-making based on their unique cultural perspectives, social experiences,professional expertise, and practical knowledge, fostering collaboration, checks and balances, andcomplementary strengths, ultimately enhancing the board’s creativity.NameDirector type

Coretechnicalpersonnel

GenderAgeEducationTechnologyLaw

Finance andAccounting

CorporatemanagementGe ZhiyongChairmanMale54Master’s√Li WenDirector√Male54Master’s√Yin ZheDirectorMale53Master’s√ZhouYongxiu

DirectorFemale56Bachelor’s√Liu ShitingDirector√Male55Master’s√Jia YinghuaDirectorFemale47

Associate

Degree

√Sun Xinwei

Independentdirector

Male58

Associate

Degree

√Bo Yuming

Independentdirector

Male59Ph.D.√Yang Jian-

hong

Independentdirector

Male54Master’s√9333.3%Number ofdirectors

Number of inde-pendent directors

Proportion of independentdirectors on the Board

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The Supervisory Board serves as the Company’s over-sight body, responsible for supervising the Company’sfinancial health, business operations, and the perfor-mance of duties by directors and senior management.The board consists of 3 supervisors, including 2 exter-nal supervisors with market and legal backgrounds and1 employee representative supervisor. All supervisorsdiligently ful?ll their responsibilities, conducting rigor-ous reviews of the Company’s critical matters such asfinancial status, major asset restructurings, and relat-ed-party transactions. They monitor and ensure thatdirectors and senior management perform their dutiesin compliance with laws and regulations, safeguardingthe legitimate rights and interests of shareholders, par-ticularly minority shareholders.

The Company has established and implemented a comprehen-sive disclosure system, including theDisclosure ManagementSystem, theManagement System for Deferred and ExemptedDisclosures, and theAccountability System for Major Errors inAnnual Report Disclosures.These policies clearly define thescope of disclosures, approval procedures for ad-hoc announce-ments, and designate the secretary of the Board of Directorsto be in charge of disclosures, so as to disclose the relevantinformation truthfully, accurately, completely, and in a timelymanner, and ensure that all shareholders have an equal oppor-tunity to obtain information. Additionally, we have developed awell-structured drafting, review, and disclosure process for regu-lar reports, ensuring that disclosures are authentic, precise, andcomplete.

The Company has established an Investor Relations Management System and strictly adheres to its principles of com-pliance, adequacy, fairness, e?ciency, cost-e?ectiveness, integrity, and interactive communication. The secretary ofthe Board of Directors is responsible for organizing and coordinating investor relations management, while the Securi-ties Investment Department serves as the functional department for investor relations.

We have fully leveraged multiple channels and platforms to ensure multi-level, multi-channel communication withinvestors. These include designated media outlets, the o?cial website, telephone, fax, email, meetings, on-site visits,roadshows, and the SSE e-Interactive platform. By streamlining communication processes, we facilitate investor par-ticipation.

Supervisors and the Superviso-ry Board

Enhancing Investor Communication

Disclosures

Investor Relations Management

Number of Supervisory Board Meetings

Regularly disclosed reports

Ad-hoc announcements

Number of Resolutions Reviewed at the Supervisory

BoardNumber of Resolutions Rejected at the Supervisory

Board

9495

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Communicationmethod

Speci?c MeasuresDesignated mediaoutlets

Timely disclose relevant corporate information through our designatedmedia outlets.O?cial website

Enrich and update our o?cial website in a timely manner, placing onour o?cial website relevant information of interest to investors, suchas press releases, company pro?le, product operations, statutory dis-closures, investor relations contacts, stock quotes, and so on.Telephone, fax andemail

Set up dedicated investor inquiry lines, fax services, and email support,and leverage modern communication tools to conduct regular or ad-hoc investor relations activities.Meetings and con-ferences

Host shareholders'meetings, earnings brie?ngs, investor communica-tion meetings (both in-person and online), and business presentations,among others, to actively engage with investors, solicit feedback, andaddress their inquiries.On-site visits

Organize Investor Open Days and institutional research visits, allow-ing investors, analysts, and other parties to conduct in-depth on-siteinspections, participate in roundtable discussions, and gain a compre-hensive understanding of our business operations, strategic deploy-ment, and market positioning.Roadshows

Conduct roadshows in accordance with regulatory requirements whenexecuting major ?nancing plans.Online interaction

Actively monitor and respond to investor queries on the SSE e-Interac-tive platform in a timely manner.

Investor Open DayIn 2024, the company successfully held three Investor Reception Day events, duringwhich management discussed and exchanged views with investors on operationalperformance and future development plans.

Investor re-lations man-

agement

Total annual + semi-annual cash dividends

for 2024

million RMBPercentage of pro?t distribution to net pro?t

attributable to shareholders

60.85

%SSE e-Interactive responses

Number of performance brie?ngs

Number of investor visits

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Protection of Creditors'Rights and InterestsDuring the reporting period, we established the Rules on the Meetings of Convertible Bondhold-ersto strengthen the protection of creditors'legitimate rights and interests through a well-struc-tured system.In 2023, we issued “Autowell Convertible Bonds” (Bond Code: 118042), with a total issuanceamount of RMB 1.14 billion, successfully listed on September 1, 2023. On June 24, 2024, CSCI Rat-ings conducted a comprehensive assessment of our business operations and industry develop-ment, and released the2024 Tracking Rating Report on the 2023 Convertible Corporate Bonds Is-sued by Wuxi Autowell Technology Co., Ltd. (CSCI Ratings [2024] Tracking No. 390-01). Our issuercredit rating was assessed as “AA-” with a “Stable” outlook, while the rating for the “AutowellConvertible Bonds” was also assigned “AA-”.

Remuneration Management for Directors, Supervisors and ManagementIn accordance with internal regulations such as theArticles of Association and the Senior Executive Compensation Management System, the Remuneration and Appraisal Commit-tee under the Board of Directors is responsible for formulating and reviewing remuneration policies and plans for directors and senior managers, and setting performance appraisalcriteria for senior management. The remuneration packages of directors and supervisors are approved by the Board of Directors and the Supervisory Board and then submitted to theShareholders'Meetings for approval before implementation, and the remuneration packages of senior management are approved by the Board of Directors and then implementedwith the cooperation of the Human Resources Department.For the remuneration system of the management, we adopt the 3P (Position, Performance, Person) design model. This approach scienti?cally determines the remunerations of man-agement by comprehensively considering multiple factors, including job value, performance, individual capabilities, and the Company’s overall performance. Additionally, non-in-dependent directors, supervisors, and senior managers receive remuneration based on their positions, administrative responsibilities, role execution, and performance. They do notreceive separate allowances for their roles as directors or supervisors. Independent directors, however, are entitled to a ?xed independent director allowance, while external directors(excluding independent directors) do not receive director allowances from the Company.

1.14

AA-AA-

“Autowell ConvertibleBonds” was also assignedOur issuer credit rating wasassessed as

“Autowell Convertible Bonds”with atotal issuance amount of RMB

billion

9697

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The Company has developed a comprehensive internal control system by formulating regulations suchas theWorking Rules of the Audit Committee under the Board of Directors, the Internal Control System, and the InternalAudit System. We have also set up a comprehensive system of policies and processes from three levels: manage-ment processes, business processes and support processes, to ensure the e?ciency, standardization and ?exibil-ity in our operations. Additionally, we conduct regular comprehensive reviews of our internal control system tomaintain document relevance and e?ectiveness.

? Responsible for communicating, supervising, and reviewing internal and exter-nal audits.? Professional audit team: We designate experienced auditors overseeing the

internal management system and internal control of both the parent companyand subsidiaries.? Issue rectification and recommendations: The Risk Control and Audit Depart-ment identi?es issues, formulates corrective measures, and provides recommen-dations, submitting written or electronic reports to the Audit Committee.? Follow-ups and evaluations: The Risk Control and Audit Department monitorsthe implementation of corrective actions, evaluates the e?ectiveness of internalcontrol, and ensures continuous improvement.

Audit Committee underthe Board of Directors

Risk Control and AuditDepartment

Internal Control

Developing the Internal Control System

Internal Control and Risk Management

Internal Control Organizational Structure

Based on risk assessment results, the Company implementscontrol measures by integrating manual and automatedcontrols, as well as preventive and detective controls, ensur-ing that various risks remain within an acceptable range. Toreasonably ensure the achievement of corporate targets, wehave established control procedures and actively carry outmultiple internal control measures, including risk control, au-thorization control, division of duties, incompatible positionseparation control, accounting system control, asset accessand record-keeping control, and budget control. Additionally,we conduct regular self-assessments of our internal control.The Risk Control and Audit Department reports to the AuditCommittee at least once per quarter, covering but not limitedto the execution information of the internal audit plan andissues identi?ed during internal audits.

Strengthening Internal Control

During the reporting period, we conducted

audit projects.Following the completion of these projects, we implemented anonline tracking system on the OA system to monitor recti?cationprogress. We achieved a

100%

completion rate for audit issuerecti?cations throughout the year.

During the reporting period, our internal control system op-erated e?ectively, with no material or signi?cant de?cienciesidenti?ed in ?nancial or non-?nancial areas.

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E?ective risk management is the cornerstone of a publicly listed com-pany’s stable operations and a key safeguard for achieving sustainabledevelopment. The Company is committed to establishing and contin-uously improving a science-based and comprehensive risk manage-ment system, to protect corporate assets, enhance decision-makingcapabilities, ensure business continuity, maintain operational compli-ance, and uphold strict legal standards. This approach helps us identi-fy, assess, and respond to various risks in a timely manner, strengthen-ing our risk resilience and core competitiveness.

In terms of institutional development, we have formulated theRiskManagement Framework Document, which clearly defines the orga-nizational structure, operational mechanisms, management matrix,oversight and improvement measures, and cultural developmentrequirements, providing institutional support for risk management ef-forts.Regarding the organizational structure, we have established a “threelines of defense” risk management framework under the leadershipof the Board of Directors. This framework delineates the roles and re-sponsibilities of key departments, including business and functionaldepartments, the Securities Investment Department, and the RiskControl and Audit Department, ensuring the e?ective implementationof risk management requirements.

Risk Management

Risk Management System

Each business and functional department is the first responsiblebody for risk management, and is required to conduct a comprehen-sive assessment of possible risks at the business level based on theirrespective business process, and prioritize them according to theimportance of the risks with the professional support of the risk man-agement functional department.

Business and functional departments

Securities Investment Department

Risk Control and Audit Department

Conduct inspections and evaluations of risk management status andresponse capabilities based on established risk response strategiesand management measures. Throughout this process, the depart-ment objectively assesses the actual e?ectiveness of business andfunctional departments in risk management, provides professionalguidance, and continuously monitors the implementation of correc-tive measures.

Evaluate the risk management performance of business and func-tional departments based on internal control audits, economic re-sponsibility audits, engineering project audits, information systemaudits, and specialized audits and issue corresponding audit reports.

“Three Lines ofDefense” in RriskManagement

First line of de-fense

Second line ofdefense

Third line ofdefense

9899

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The Company has established an e?ective risk reporting mechanism and process, enabling prompt responsesto operational risks, optimized resource allocation, and the protection of legitimate corporate interests.

Risk Management Measures

Risk management measures

Risk identi?cation andcollection

? The Company has established RCM (Risk Control Matrix) for procurement, contracts, funding, projects,inventory, ?xed assets and other business sectors. This matrix identi?es common risk points based onbusiness processes, de?nes key control measures, assigns responsible departments and personnel, andspeci?es control documents and frequencies to ensure e?ective alignment of process risks and control.? Responsible departments collect internal risk data through employee feedback and inspection recordsand gather external risk information via market research and industry reports based on laws and regula-tions and internal systems.? We have appointed Risk Management Coordinators to facilitate comprehensive risk management, ensur-ing a balanced approach between business development and risk control.Information organization

and analysis

We compile and analyze collected risk information, develop risk assessment indicators and methodologies,and determine risk levels and priorities.Risk reporting

We prepare risk reports based on the collated and analyzed risk information, which includes risk overviews,assessment results, and response strategies.Risk communication andfeedback

We circulate risk reports to the relevant departments and Decision-making Committee and provide timelyfeedback on the results.Risk monitoring andevaluation

The Risk Control and Audit Department supervises and evaluates the preparation and distribution of risk re-ports to ensure accuracy and timeliness.

The Company upholds the principles of integrity in opera-tions, strictly adheres to compliance regulations, continu-ously optimizes its compliance management mechanisms,and strengthens risk prevention measures. By enhancingcompliance reviews and fostering a strong complianceculture, we ensure efficient compliant management tosupport high-quality development.In 2024, the company established thePublic Opinion Man-agement System, Foreign Exchange Derivatives TradingBusiness Management System, External Financial Assis-tance Management System, andAnnual Report Informa-tion Disclosure Material Error Accountability System, whilerevising theFundraising Management System, furtherstrengthening the institutional foundation for compliancemanagement.Additionally, we actively promote system and processimprovements, addressing compliance issues within busi-ness and functional departments in terms of system andprocess improvements, supported by functional depart-ments. At the execution level, departments review adher-ence to systems and processes during audit projects andprovide recommendations for improvement.

Compliant Operations

CompliantOperations and TaxManagement

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Legal A?airs and Contract Training

To enhance employees'awareness of legalrisks and contract management capabilities,the Human Resources Department organizedspecialized Legal A?airs and Contract Knowl-edge Training sessions. Expert-led sessionscovered key aspects such as contract drafting,common legal risk prevention, and key pointsconcerning contract execution. The trainingadopted an interactive format combiningtheoretical instruction, case studies, and Q&Asessions, fostering engaging discussions.A total of

employees from

departmentsparticipated, significantly improving theirrisk control capabilities in contract drafting,review, and execution. This training providedstrong legal support for our business opera-tions.

Procurement Compliance Rrsk TrainingIn December 2024, we organized an on-site training session fo-cused on procurement contract risk prevention, aiming to enhanceemployees'risk awareness and response capabilities. The session,attended by 150 employees, provided an in-depth analysis of riskpoints across the entire procurement contract lifecycle, coveringcontract clause drafting, supplier qualification reviews, and riskmonitoring during contract execution. This training significantlyimproved employees'risk prevention awareness, strengtheningcompliance safeguards in procurement and contributing to ourstable and sustainable growth.

The Company actively strengthens tax management, continuously reviewing and optimizing tax processesto establish a science-based, comprehensive, and development-oriented tax management system. Addi-tionally, we place great emphasis on monitoring tax policy developments at both the national and locallevels, closely tracking policy adjustments and updates. Through in-depth analysis of these changes, weevaluate their potential impact on tax operations and promptly adjust our tax policies and operationalguidelines. This ensures timely tax payments in accordance with legal and regulatory requirements whilee?ectively mitigating tax-related risks.

Tax Management

100101

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The Company has issued sever-al key regulations, including theAnti-fraud and WhistleblowingManagement System, theCon-flict of Interest ManagementSystem, theGift and Cash GiftReporting and SubmissionManagement System,and theEmployees'Internal Relation-ship Management Measures,implementing the “AutowellIntegrity Code of Conduct RedLine”, and providing stronginstitutional support for its an-ti-corruption and clean gover-nance activities. We have alsojoined the China EnterpriseAnti-fraud Alliance and theTrust and Integrity EnterpriseAlliance, where members ex-change experiences, take jointactions, and share blacklists,creating a synergistic effort inthe ?ght against fraud.

Employees'Internal RelationshipManagement Measures

Anti-fraud and WhistleblowingManagement System

Con?ict of Interest Management

SystemGift and Cash Gift Reporting andSubmission Management SystemProcurement Integrity Agreement

Establish healthy, integrity organiza-tional and personnel relationshipsand guide internal relationships tocreate a sound professional devel-opment environment.

? Revise department responsibilities andclarify the deadline requirements forcomplaint communication and feed-back.? Expand protection for whistleblowersto include investigators and establisha mechanism for handling interferencewith investigators'work.

? Clarify behavior norms and responsi-

bilities for employees and suppliers.? The company continued to imple-

ment the gift and cash reporting and

handover policy, with a total of 38

cases reported and handed over in

2024.

Anti-commercial BriberySystem Development

Anti-commercial Bribery

System issuanceSystem revision

Continuous implementation

System improvement measures in 2024

Regulating the Integrity of Business Partners

In 2024, the Company continued to promote theProcurement Integrity Agreement, further clarifyingthe behavior norms and breach of contract liabilities for suppliers. According to the agreement, sup-pliers and their personnel are strictly prohibited from bribing our employees in any form, includingbut not limited to gifts, negotiable securities, payment vouchers, and valuable items. Additionally,suppliers are not allowed to provide any form of economic bene?ts to our employees or their familymembers, such as housing, decoration, transportation, or other conveniences related to weddings,funerals, etc.Regarding behavior norms, the agreement stipulates that suppliers must not invite our employees tobanquets, ?tness, travel, or entertainment activities that may a?ect integrity or fairness, and must notengage in any ?nancial dealings with our employees or their relatives. Furthermore, suppliers are ob-ligated to monitor their employees'compliance with the integrity agreement and take action to stopany violations. We also actively expand the reach of integrity promotion, holding thematic integritypromotion activities for key suppliers through supplier conferences to convey our integrity standards.

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Reporting process

Complaint and whis-tleblowingReport reception

Investigation andreporting

Establishment ofan investigationteam

Accountability andcorrective actionFeedback on results

Employees can report violations through various channels.The Discipline Inspection Department receives the report and contacts the whistleblower within 3working days.The Company establishes an investigation team based on the position level of the reported party.? Anti-fraud personnel investigate and archive relevant materials from the reported department, re-quiring relevant personnel to provide explanations. Individuals refusing to cooperate will be heldaccountable.? Upon completion of the investigation, the investigation team issues a report containing the accep-

tance date, personnel composition, veri?ed facts, conclusions, and recommendations.? The Discipline Inspection Department veri?es the investigation results, and once con?rmed, the

case is handed over to the Human Resources Department for accountability, processing, and out-

come reports.? The involved department implements corrective measures and submits an internal control as-

sessment and improvement report to optimize processes.? After the investigation is completed, the Discipline Inspection Department shall notify the whis-

tleblower of the results within 5 working days after the investigation or decision is confirmed,

through an appropriate method.

The Company encourages employees to actively participate in integrity-building efforts by providing various whis-tleblowing channels, such as an o?cial website reporting portal and a dedicated email address, to collectively contrib-ute to creating a positive professional development environment.Reporting ChannelsWhistleblowing and Reporting Mechanism

To further strengthen the integrity culture and protectthe legitimate interests of whistleblowers and investiga-tors, the Company has expanded the scope of protectionto include those involved in investigations. Additionally,a mechanism has been introduced to handle interfer-ence with the work of investigators. Any individual whointentionally discloses the identity of a whistlebloweror who interferes with or retaliates against the whis-tleblower or investigators will face disciplinary actions,including dismissal, or termination of the employmentcontract. If legal violations occur, the case will be re-ferred to the judicial authorities for processing, ensuringthe protection of the rights and interests of the relevantindividuals.

Protection of Whistleblowers

Whistleblowing channelsO?cial websitehttps://www.wxautowell.com/about/messageWeChat o?cialaccount

Integrity at Autowell (WeChat ID: lianjieATW)Email jubao@wxautowell.comCorrespondence

Discipline Inspection Department, Wuxi Autowell

Technology Co., Ltd., No. 3 Xinhua Road, Xinwu

District, Wuxi City, Jiangsu Province

102103

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Anti-Bribery Culture Development

During the reporting period, the Company fostered its integrity culture both onlineand offline. Online, we efficiently operated the “Integrity at Autowell” WeChatofficial account, with 19 articles published in 2024. These articles covered topicssuch as reminders for integrity during holidays, interpretation of corporate policies,prevention of duty-related crimes, promotions for Integrity Month, and knowledgequizzes. These targeted communications provided clear guidance for employeeson key integrity issues. O?ine, we organized integrity training activities that e?ec-tively boosted employee participation in integrity initiatives, creating a clean andpositive atmosphere and thus laying a solid foundation for our healthy, e?cient,and sustainable development.

The “520, I LoveIntegrity” themedevent in May

Police-enterprise

collaborativethemed training

event in July“The First Cup ofIntegrity Co?ee inAutumn” themedevent in August

“Practicing IntegrityTogether” IntegrityMonth themed event inDecember

Integrity-themed activities

Integrity-themed Training in 2024Theme

Number ofSessions

ParticipantsIntegrity training session for engineering and R&D teams in March:

“Progressing with Integrity”

1Over 150Integrity training for graduate employees in July:

“The First Lesson on Integrity, Setting a Good Start for New Employ-

ees”

1100Public security-themed integrity training in July:

“Preventing Economic Crimes and Telecom Frauds”

2Over 300Anti-fraud system promotion training in December:

“Anti-fraud Promotion and Reporting Guidelines”

1All employeesTraining on Integrity Red Line Cases in December:

“Lessons from Past Cases: A Compilation of Integrity Violations”

1All employees

Due to our outstanding performance in pro-moting integrity, we were awarded the “In-tegrity Vitality Award” in the 2024 AnnualIntegrity Themed Month Evaluation by theChina Enterprise Anti-Fraud Alliance. Thishonor has not only recognized our past ef-forts but also motivated us to continuouslypromoting integrity in the future.

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At Autowell, we strictly adhere to laws and regulations such as theAnti-Unfair Competition Law, and the InterimProvisions on the Prohibition of Commercial Bribery. We maintain a“zero-tolerance” stance towards any form of commercial bribery and consistently uphold business ethics, participating in market competition in a fair and transparent manner.During the reporting period, we did not have any incidents of non-compliance related to unfair competition. Moving forward, we will continue to uphold the baseline of fair competi-tion and contribute to creating a healthy and orderly market environment.

Anti-Unfair Competition

Amount involved in lawsuits or major administrativepenalties due to unfair competition during the report-ing period

Number of pending or completed legal cases regardingunfair competition where we have been determined tobe a participant

104105

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Environmental PerformanceIndicatorUnit20232024Total GHG EmissionstCO

2e3,967

2621.255，6Scope 1 GHG EmissionstCO2e

606.76

375.85

Scope 2 GHG EmissionstCO

2e

3,360.38

2245.40Carbon emission Intensity

tCO2e per RMB 10,000 rev-enue

0.006

0.0028

Environmental protectioninvestment

RMB10,0007.36623. 82

Purchased electricity10,000 kWh589.45418.45

Total Fuel ConsumptionTons132.83Total gasoline consump-

tion

Tons78.29Total diesel consumptionTons13.63Total natural gas consump-

tion

KNm?46.2643.60Total comprehensive ener-gy consumption

Tons of standard coal975.72702.51

Appendix I: ESG Data Table

Environmental PerformanceIndicatorUnit20232024Total direct energy con-sumption

Tons of standard coal251.29188.23Total indirect energy con-

sumption

Tons of standard coal724.43514.28Energy intensity per 10,000

yuan of output value

Tons of standard coal per

10,000 yuan of outputvalue

0.00150.0008

Renewable energy con-sumption

MWh1,660.94Total water consumption,including:

Cubic meters72,69783,191

Municipal water supplyCubic meters72,69783,191Water consumption per10,000 yuan revenue

Cubic meters per 10,000

yuan

0.0904Paper consumption percapita

Sheets648.39618.29Note: Items 1, 2, 3, and 4: The 2023 greenhouse gas emission data have been adjusted according to the "2023 GHG Veri?cation Statement" pub-lished by the Company on April 8, 2024.Note 5: GHG emissions are calculated based on theGuidelines for Accounting and Reporting of Greenhouse Gas Emissions for Enterprises inOther Industrial Sectors (Trial) issued by the National Development and Reform Commission (NDRC). The electricity emission factor for pur-chased electricity is derived from theAnnouncement on the 2022 Electricity Carbon Emission Factor, published by the Ministry of Ecology andEnvironment in December 2024.Note 6: The Company conducts an annual GHG veriveri?cation?cation everyin May, with all o?cial data to be derived from the ?nal veri?cationreport..with ?nal data subject to veri?cation reports.Note 7:This year's environmental protection investment includes expenditures on PV rooftop systems.Note 8: Purchased electricity ?gures exclude self-consumed PV power generation.Note 9: The total water consumption increased compared to the previous year due to the commissioning of the Phase II factory.

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106107

Employee PerformanceIndicatorUnit20232024Total number of employ-

ees

/4,8324,101Number of male employ-

ees

/4,2713,550Number of female employ-

ees

/561551Proportion of female man-

agers

%19.3721Social insurance coverage

rate

%100100Total safety training ses-

sions

/78137Safety training coverage

rate

%100100Safety hazard recti?cation

rate

%100100Total employee trainingexpenditure

RMB13,269,000971,800Total employee training

hours

/55,00019,832New employee training

hours

/4120Proportion of new employ-ees trained

%100100

Employee PerformanceIndicatorUnit20232024

Mid-Level management train-

ing hours

/5124.5Proportion of mid-level man-

agement trained

%8086Client satisfaction%95.4100Overseas client satisfaction%100Domestic client satisfaction%100Client complaint resolution

rate

%100Client complaint response

rate

%100Number of recalled products/00

Number of complaints onproducts and services

/00Major product and servicesafety or quality incidents

/00Product pass rate%97.5599.05R&D InvestmentRMB 10,000 32,730.7743,036.09R&D Personnel/8751,065

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Employee Performance

IndicatorUnit20232024

Number of invention pat-ents granted

/32149Number of utility modelpatents granted

/271170Number of design patents

granted

/13Number of software copy-rights granted

/2423Number of patents grantedduring the reporting period

/358385Total number of standard

parts suppliers

/236153Responsible (Green)procurement amount ofstandard parts

RMB 10,000215.417Total ESG training hours

for suppliers

/5Number of ESG training

supplier participants

/130Total social welfare invest-

ment

RMB 10,000102.52189.83Total employee volunteer-ing hours

/250

Governance performanceIndicatorUnit20232024Total anti-bribery andanti-corruption traininghours

/25Number of employeesparticipating in anti-cor-ruption training

person-times4,154Integrity-themed trainingsessions

/6Amount involved in law-suits or major administra-tive penalties due to unfair

competition during thereporting period

RMB 00Number of pending orcompleted legal cases re-garding unfair competitionwhere we have been deter-mined to be a participant

RMB00

Tax paymentsRMB hundred million6.407.50

Notes on the ReportAbout AutowellMateriality AssessmentSustainable Development Governance ArrangementsEnvironmentSocietyGovernanceESG Data TableBenchmarking Index Table

108109

Appendix II: Benchmarking Index Table

Table of Contents

Guidelines No. 14 of Shanghai StockExchange for Self-Regulation of Listed Com-panies—Sustainability Report (Trial)

GRI StandardsMessage from Autowell/G2-1

About AutowellCompany Pro?le/G2-1Our Culture/G2-1Our BusinessArticle 5G2-1Our History/G2-1Milestones in 2024/G2-1Our Responsibilities andHonors

/G2-1Materiality AssessmentDouble Materiality AnalysisArticle 5, 14, 15, 16, 17, 18G3-1、G3-2、G3-3Stakeholder CommunicationArticle 53G2-29

Table of Contents

Guidelines No. 14 of Shanghai StockExchange for Self-Regulation of ListedCompanies—Sustainability Report (Trial)

GRI StandardsConclusion of Materiality Assess-

ment

Article 5G3-1、G3-2、G3-3Sustainable Development Governance ArrangementsSustainable Development Gover-nance Structure

Article 11, 12G2-22Sustainable Development-Relat-

ed Information Reporting

Article 12G2-22Sustainable Development Over-

sight and Assessment Mecha-

nism

Article 12G2-22EnvironmentClimate Change ResponseArticle 20, 21, 22, 23, 24, 26, 27, 34

G201-2、G305-1、G305-2、G305-3、G305-4、G305-5、G305-6、G305-7Environmental Compliance

Management

Article 29, 33/Discharge of Wastewater, Waste

Gases, and Solid Waste

Article 31

G306-1、G306--2、G306-3、G306-4、G306-5、Energy UtilizationArticle 34, 35

G302-1、G302-2、G302-3、G302-4、G302-5108109

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Table of Contents

Guidelines No. 14 of Shanghai StockExchange for Self-Regulation of ListedCompanies—Sustainability Report

(Trial)

GRI StandardsWater Resource Utiliza-

tion

Article 34, 36

G303-1、G303-2、G303-3、G303-4、

G303-5Circular EconomyArticle 37G301-1、G301-2、G301-3Green OperationsArticle 20, 28, 34/Biodiversity ConservationArticle 32

G101-1、G101-2、G101-4、G101-5、G101-6、G101-7、G101-8、G304-1、G304-2、G304-3、G304-4SocietySafeguarding EmployeeRights and Interests

Article 49, 50

G401-2、G401-3、G404-1、G405-1、

G406-1Occupational Health and

Safety

Article 49, 50G403Products and ServicesArticle 45, 47, 48

G416-1、G416-2、G417-1、G417-2、

G417-3Innovation-Driven Devel-opment

Article 41, 42/Win-win CooperationArticle 44, 45

G204-1、G308-1、G308-2、G409-1、G414-1、G407-1、G408-1、G409-1Rural Vitalization Article 39/

Table of Contents

Guidelines No. 14 of Shanghai StockExchange for Self-Regulation of ListedCompanies—Sustainability Report

(Trial)

GRI StandardsSocial ContributionsArticle 40G415-1

GovernanceCorporate GovernanceArticle 2,12, 51

G2-9、G2-10、G2-11、G2-12、G2-13、G2-14、G2-15、G2-16、G2-17、G2-18、G2-19、G2-20、

G2-21、G2-27Internal Control and RiskManagement

Article 52/Compliant Operationsand Tax Management

Article 54

G207-1、G207-2、G207-3、

G207-4Anti-commercial BriberyArticle 55G205-1、G205-2、G205-3Anti-Unfair CompetitionArticle 56G206-1

AppendicesESG Data Table Article 6/Benchmarking Index

Table

Article 57/

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