Announcement on behalf of subsidiary Solar Chemical(KunShan) Realized loss of individual derivative transaction exceeds the regulated ceiling.

1.Type of contract:Forward Contrace
2.Date of occurrence of the event:2024/07/12
3.Contract price:RMB 13,785,583.94
4.Monetary value of margin or royalties paid:None
5.Ceiling on losses for aggregate or individual contracts set forth in the Procedures:
30% of the monetary value of the individual contract。
6.Reason for derivative transaction:Hedging.
7.Item(s) being hedged:Silver (raw material).
8.Monetary value of the hedged item(s):RMB 13,785,583.94
9.Profit (loss) of the hedged item(s):RMB 5,487,568.06 of loss。
10.The losses (including realized and unrealized losses) assessed using fair value:
Sum of realized loss RMB 5,487,568.06
11.Reason for occurrence of the losses and the impact to the Company:
The price of silver has since escalated after the transaction,
resulting in realized loss exceeding 30% of the individual contract value.
12.Contract period:2023/11/1~2024/3/11
13.Restrictive covenants:None
14.Other important terms and conditions:None
15.Any other matters that need to be specified:None