Xiongtao Co., Ltd.: Temporarily suspends implementation of the construction project for the Xiongtao New Energy Lithium Battery Production Base in Hubei.

Xiongtao Group announced that on April 23, 2026, the company held the first meeting of the sixth session of the board of directors to review and approve the "Proposal on Reassessing and Temporarily Suspending Implementation of Some Fundraising Investment Projects." Due to the cyclical fluctuations in the lithium battery industry and the conservative forecasts of downstream customer orders, the current production capacity of the company is sufficient to meet demand. In order to avoid the risk of idle new production capacity, the decision was made to temporarily suspend the implementation of the "Hubei Xiongtao New Energy Lithium Battery Production Base Construction Project." This project was planned to invest approximately 336 million yuan of raised funds, and as of now, construction has not started and no raised funds have been invested. This temporary suspension does not involve any changes to the fundraising project, does not affect the use of raised funds and investment scale, and will not have a significant impact on the company's production and operation. The company will carefully assess the feasibility of the project based on market changes in the future.