• Explanation by the Board of Directors of Zhejiang Chunhui Intelligent Control Co., Ltd. on the stock price fluctuations of the company prior to the disclosure of information regarding this transaction

  March 20, 2025

• Explanation by the Board of Directors of Zhejiang Chunhui Intelligent Control Co., Ltd. on the absence of circumstances specified in Article 12 of the "Guidelines for the Supervision of Listed Companies No. 7—Supervision of Abnormal Stock Trading Related to Major Asset Restructuring of Listed Companies" and Article 30 of the "Self-Regulatory Guidelines for Listed Companies of Shenzhen Stock Exchange No. 8—Major Asset Restructuring" for the relevant parties of this transaction

  March 20, 2025

• Explanation by the Board of Directors of Zhejiang Chunhui Intelligent Control Co., Ltd. on the purchase and sale of assets within 12 months prior to this transaction

  March 20, 2025

• Explanation by the Board of Directors of Zhejiang Chunhui Intelligent Control Co., Ltd. on the completeness and compliance of the statutory procedures performed for this transaction and the validity of the legal documents submitted

  March 20, 2025

• Explanation by the Board of Directors of Zhejiang Chunhui Intelligent Control Co., Ltd. on the related-party nature of this transaction

  March 20, 2025

• Explanation by the Board of Directors of Zhejiang Chunhui Intelligent Control Co., Ltd. on the compliance of this transaction with Articles 11 and 43 of the "Administrative Measures for Major Asset Restructuring of Listed Companies"

  March 20, 2025

• Explanation by the Board of Directors of Zhejiang Chunhui Intelligent Control Co., Ltd. on the compliance of this transaction with Article 11 of the "Administrative Measures for the Registration of Securities Issuance by Listed Companies"

  March 20, 2025

• Explanation by the Board of Directors of Zhejiang Chunhui Intelligent Control Co., Ltd. on the compliance of this transaction with Article 4 of the "Guidelines for the Supervision of Listed Companies No. 9—Supervisory Requirements for the Planning and Implementation of Major Asset Restructuring by Listed Companies"

  March 20, 2025

• Explanation by the Board of Directors of Zhejiang Chunhui Intelligent Control Co., Ltd. on the compliance of this transaction with Articles 18 and 21 of the "Continuous Supervision Measures for GEM Listed Companies (Trial)" and Article 8 of the "Review Rules for Major Asset Restructuring of Listed Companies on the Shenzhen Stock Exchange"

  March 20, 2025

• Explanation by the Board of Directors of Zhejiang Chunhui Intelligent Control Co., Ltd. on the confidentiality measures and confidentiality system adopted for this transaction

  March 20, 2025