Stock Code: 200771 Stock ID: Hangqilun B Announcement No.: 2025-21 Hangzhou Turbine Power Group Co., Ltd. Announcement on the establishment of the share participating subsidiary through outward investment The members of the Board and the Company acknowledge being responsible for the truthfulness, accuracy, and completeness of the announcement. There are no false records, misleading statements, or significant omissions carried in this announcement. I. Overview of Outward Investment In order to accelerate the commercialization process of independent gas turbines, comprehensively deepen the construction of independent gas turbine test and application demonstration base, and accelerate the implementation of demonstration base projects and industrial integration, the Company plans to jointly invest in the establishment of a joint venture company---Lianyungang Zhonghang Gas Turbine Technology Co., Ltd. (Tentative name-subject to the final registration of the market supervision and management department, hereinafter referred to as the joint venture company) with Jiangsu Yangjing Petrochemical Group Co., Ltd., an enterprise authorized by the Management Committee of the National Eastern, Central and Western Regional Cooperation Demonstration Zone (Lianyungang Xuwei New District). The registered capital of the joint venture company is 100 million yuan, of which 45 million yuan is contributed by the Company in cash with its own funds, and its shareholding ratio is 45%. Jiangsu Yangjing Petrochemical Group Co., Ltd. invests 55 million yuan in cash, holding 55% of the shares. The joint venture will plan to build an independent gas turbine test and industrial demonstration base. On March 17, 2025, the Company held the 12th meeting of the ninth board of directors, in which the "Proposal on the establishment of the share participating subsidiary through outward investment" was deliberated and passed, and the voting result was: 9 votes in favor, 0 vote objection and 0 vote waived. According to the Rules for the Listing of Stocks on the Shenzhen Stock Exchange, theArticles of Association of the Company and the Management System for the Company's outward Investment, such investment is within the approval authority of the board of directors and does not need to be submitted to the shareholders' general meeting of the Company for deliberation. This investment does not constitute a related party transaction and does not belong to the major asset restructuring matters stipulated in theAdministrative Measures for the MajorAsset Restructuring of Listed Companies. II.Basic information of the partner Name: Jiangsu Yangjing Petrochemical Group Co., Ltd Address: Office 717-718, Industrial Service Center, Xuwei New District, Lianyungang City Business Type: Limited Liability Company Legal representative: Cao Hongtao Registered capital:7,000 million yuan Date of Establishment:August 11, 2014 Organization Code: 91320700313814347Y Business Scope: Licensed Items: Port Operation;All kinds of engineering construction activities (projects subject to approval in accordance with the law can only be carried out after approval by relevant departments, and specific business items are subject to the approval results) General projects: park management services; project management services; Engage in investment activities with its own funds; landscaping engineering construction; earthwork construction; domestic freight forwarding; international freight forwarding; domestic shipping agency; General cargo warehousing services (excluding hazardous chemicals and other items subject to license approval); loading, unloading and handling; Sales of metal materials (except for projects subject to approval in accordance with the law, independently carry out business activities with a business license in accordance with the law) Ownership and control relationship: Related relationship: There is no related relationship between the Company and Jiangsu Yangjing Petrochemical Group Co., Ltd. According to the information disclosure website in China, Jiangsu Yangjing Petrochemical Group Co., Ltd. is not a dishonest debtor. III.Basic information of the investment subject Name: Lianyungang Zhonghang Gas Turbine Technology Co., Ltd. (tentative name-subject to actual registration) Registered capital:100 million yuan Business Type: Limited Liability Company Registered address: Xuwei New District, Lianyungang City (the final industrial and commercial registration address shall prevail) Business scope: technology development, technology transfer, technical consulting, and technical services in the field of gas turbines and new energy; investment, construction and operation of gas turbine power station; R&D, production, sales, inspection and maintenance services for gas turbine units and parts; Testing and verification services for gas turbines and key components; production, sales and sys