Hongying Intelligent: Subsidiary's winning project terminated.

Hongying Intelligent Announcement: Shanghai Hongying New Energy Technology Co., Ltd., a wholly-owned subsidiary of the company, as a member of the winning bidder consortium, announced the cancellation of the winning bid results by the bidding unit Xinjiang Tongguang Technology Co., Ltd. due to significant policy adjustments in the project "Section [001] Xinjiang Tongguang Technology Co., Ltd. Luopu 500,000 kW / 2 million kWh Energy Storage Supporting 2 million kW Photovoltaic Power Generation Project". The project was in the stage of winning the bid but had not yet signed a formal contract. The termination will not have a significantly adverse impact on the company's production, operation, and performance of Hongying New Energy.