Zhefu Holdings: A wholly-owned subsidiary primarily engages in the research, design, manufacturing, and servicing of large and medium-sized complete sets of water turbine generator units.

Announcement of unusual fluctuations in the stock trading of Zhefu Holdings: The company has noticed the high level of attention in the market on the Yadu River downstream hydropower project. The company's wholly-owned subsidiary Zhejiang Fuchunjiang Hydropower Equipment Co., Ltd. is mainly engaged in the research, design, manufacturing, and service of large and medium-sized complete sets of water turbine generator units. The products include three major types of water turbine generator units: Kaplan turbine generator units, axial flow turbine generator units, and mixed flow turbine generator units, as well as pumped storage hydropower generator units, hydropower project electromechanical general contracting, and power station electromechanical equipment general contracting projects. As of the date of this announcement, the Yadu project is still in the early stages of construction. The project has characteristics such as large investment scale, long construction period, and high technical requirements. The company will strictly comply with relevant regulations and fulfill its information disclosure obligations in a timely manner based on the progress of the project. Investors are kindly advised to pay attention to investment risks.