Hunan Keli Yuan New Energy Co., Ltd. Announcement on Providing Guarantees for Subsidiaries and Subsidiaries Providing Guarantees for the Parent Company

Stock Code: 600478
Stock Name: Keli Yuan
Announcement No.: 2026-017

Hunan Keli Yuan New Energy Co., Ltd.

Announcement on Providing Guarantees for Subsidiaries and Subsidiaries Providing Guarantees for the Parent Company

The company’s board of directors and all directors guarantee that this announcement contains no false records, misleading statements, or major omissions, and bear individual and joint responsibility for the authenticity, accuracy, and completeness of its content.

Key Highlights:

● Guarantor Names:
Hebei Keli Yuan Hybrid Energy Storage Technology Co., Ltd. (hereinafter “Hebei Keli Yuan”)
Yifeng County Jinfeng Lithium Industry Co., Ltd. (hereinafter “Jinfeng Lithium”)
Hunan Keli Yuan New Energy Co., Ltd. (hereinafter “the Company” or “Keli Yuan”)

● Guarantee amounts and actual guarantees provided:
The guarantee amount provided by the company to Hebei Keli Yuan is 300 million yuan.
The principal lease amount guaranteed for Jinfeng Lithium is 80 million yuan.
The company’s wholly owned subsidiary, Hunan Keba Automotive Power Battery Co., Ltd. (hereinafter “Hunan Keba”), provides a guarantee amount not exceeding 30 million yuan for Keli Yuan.

As of the disclosure date of this announcement, the company’s guarantee balance for Hebei Keli Yuan is 582 million yuan, and for Jinfeng Lithium is 806.5698 million yuan (excluding this guarantee).

● Is there counter-guarantee for this guarantee?
Yes. Minority shareholders of Jinfeng Lithium, Hainan Sanqiang Investment Partnership (Limited Partnership), provide counter-guarantees for the company’s guarantees to Jinfeng Lithium in proportion to their shareholding.

● Total overdue external guarantees:
None

● Special risk warning:
The total external guarantees of the company and its subsidiaries exceed 100% of the latest audited net assets, and the assets-liabilities ratio of the guaranteed parties exceeds 70%. Investors are advised to pay attention to related risks.

1. Guarantee Overview

(1) Guarantees provided by the company to subsidiaries

To further expand financing channels and meet business development needs, the company plans to provide guarantees as follows:

1. Hebei Keli Yuan plans to apply for a bank credit line of 30 million yuan at the Baoding branch of China Everbright Bank Co., Ltd., with the company providing a joint liability guarantee, with a maximum guarantee amount of 30 million yuan. The types of credit include working capital loans, bank acceptance bills, letters of credit, etc. The guarantee period is three years from the expiry date of the specific credit contract or agreement.

2. Hebei Keli Yuan plans to apply for a credit line of 500 million yuan at the Baoding branch of Industrial Bank Co., Ltd., with an exposure limit of 270 million yuan. The company will provide a joint liability guarantee, with a maximum guarantee amount of 270 million yuan. Types include working capital loans, bank acceptance bills, letters of credit, reverse factoring, etc. The guarantee period is three years from the expiry date of the main contract as agreed in the contract.

3. Jinfeng Lithium intends to conduct sale-leaseback financing leasing business with China Global Leasing Co., Ltd., with a principal amount of 80 million yuan. The company will provide a joint liability guarantee and sign a “Guarantee Contract,” covering the principal, interest, and penalties under the lease, with a guarantee period of three years from the expiry of the main contract’s performance period.

The company’s 8th Board of Directors, 24th Meeting, and the first extraordinary general meeting in 2026 approved the “Adjustment of the Expected Guarantee Limit for Subsidiaries in 2025,” agreeing that the company can provide guarantees to subsidiaries and between subsidiaries, including but not limited to financing guarantees and performance guarantees arising from daily operations. The new guarantee limit does not exceed 5,070 million yuan, valid from the date of approval at the 2026 first extraordinary general meeting until the company’s 2025 annual general meeting. These guarantees are within the approved limit and do not require further board or shareholder approval. Details are disclosed on the Shanghai Stock Exchange website in the “Announcement on Adjusting the Expected Guarantee Limit for Subsidiaries in 2025” (Announcement No.: 2026-003) and “Announcement of the Resolutions of the First Extraordinary General Meeting in 2026” (Announcement No.: 2026-006).

(2) Subsidiaries providing guarantees for the parent company

To meet daily operational funding needs, the company plans to apply for a maximum of 30 million yuan working capital loan at Dafu Bank Co., Ltd., Guangzhou Branch, with a one-year term. Hunan Keba will provide a joint liability guarantee for this external debt, with a guarantee period of two years from the expiry of the debt’s performance period.

The 8th Board of Directors’ 14th Meeting and the 2024 Annual General Meeting approved the “Proposal on the Company’s and Subsidiaries’ Credit Line Applications for 2025,” allowing the company and subsidiaries to apply for a total credit line of no more than 10 billion yuan from financial institutions. Details are disclosed on the Shanghai Stock Exchange website in the “Announcement on Applying for Credit Lines in 2025” (Announcement No.: 2025-018) and “2024 Annual General Meeting Resolution Announcement” (Announcement No.: 2025-035). The 3 million yuan working capital loan applied for this time is within the approved credit limit and has completed internal approval procedures, so it does not require further approval from the board or shareholders.

According to the “Guidelines for Self-Regulation of Listed Companies No. 1—Standardized Operations” of the Shanghai Stock Exchange, Hunan Keba has completed internal decision-making procedures for this guarantee, and it does not require further approval from the board or shareholders.

2. Basic Information of the Guarantor

3. Hebei Keli Yuan Hybrid Energy Storage Technology Co., Ltd.
   Unified Social Credit Code: 91450100MAA7BQEE6E
   Established: November 15, 2021
   Type: Other Limited Liability Company
   Address: No. 1 Xianghe Road, High-tech Zone, Baoding, Hebei
   Legal Representative: Jia Wenjie
   Registered Capital: 30 million yuan
   Business Scope: Technical services, development, consulting, exchange, transfer, promotion; manufacturing of transmission and distribution equipment; manufacturing of monitoring and control equipment for power transmission, transformation, and distribution; sales of such equipment; energy storage technology services; R&D of emerging energy technologies; battery leasing; software development; sales of battery parts; big data services; production of battery parts; battery sales; battery manufacturing; sales of electronic products; import/export of goods; high-efficiency energy-saving technology R&D for the power industry; sales of intelligent transmission, distribution, and control equipment; online energy monitoring technology R&D; advanced power electronic devices sales.

Ownership structure: Yichun Liyuan Energy Technology Co., Ltd. holds 55%, Guo Xia Keji Co., Ltd. holds 35%, and Duanrui Technology (Shenzhen) Co., Ltd. holds 10%. The company (directly and indirectly) holds 49.67% of Hebei Keli Yuan, which is a controlling subsidiary.

Recent financial status:
■

2. Yifeng County Jinfeng Lithium Industry Co., Ltd.
   Unified Social Credit Code: 91360924MA7EQB1A2R
   Established: December 6, 2021
   Type: Limited Liability Company
   Address: No. 16 Gongxin Avenue, Yifeng Industrial Park, Yichun, Jiangxi
   Legal Representative: Qiu Lei
   Registered Capital: 200 million yuan
   Business Scope: General projects include R&D of emerging energy technologies; production and sales of battery parts; electronic special materials manufacturing and sales; sales and tech development of energy storage materials, devices, and systems; non-metallic mineral products manufacturing and sales; metal materials manufacturing; metal ore sales; smelting of common non-ferrous metals; basic chemical raw materials manufacturing (excluding hazardous chemicals and licensed chemicals); chemical products production and sales (excluding licensed chemicals); mica products manufacturing and sales; high-purity elements and compounds sales; resource recycling tech R&D; engineering and tech research; battery manufacturing; new material tech R&D; import/export of goods and tech.

Ownership: Yichun Liyuan New Energy Co., Ltd. holds 51%, Hainan Sanqiang Investment Partnership (Limited Partnership) holds 49%. Yichun Liyuan New Energy is a controlling subsidiary holding 90.31% of the company, and Jinfeng Lithium is a controlling grandchild company.

Recent financial status:
■

3. Hunan Keli Yuan New Energy Co., Ltd.
   Unified Social Credit Code: 91430000274963621B
   Established: January 24, 1998
   Type: Other joint-stock listed company
   Address: Room 401-6, Buildings 1 & 2, Chenzhou High-tech Industrial Park, Linyi Avenue East, Chenzhou, Hunan
   Legal Representative: Zhang Judong
   Registered Capital: approximately 1.665 billion yuan
   Business Scope: R&D, production, sales of new materials and new energy; providing related technical consulting; sales of metal materials, metal products, electronic products, electroplating equipment, hardware accessories, building materials, chemical raw materials (excluding hazardous and monitored chemicals), electromechanical equipment, daily necessities; import/export of goods and technology; processing and “three types of processing with supplied materials” operations (projects requiring approval are subject to approval).

Major shareholders and actual controllers: The company’s controlling shareholder, Hunan Keli Yuan High-Tech Group Co., Ltd., and its concerted actor, Mr. Zhong Faping, hold a total of 18.37% of the shares. Mr. Zhong Faping is the actual controller.

Recent financial status:
■

3. Main Content of Guarantee Agreements

4. Guarantor: Hebei Keli Yuan Hybrid Energy Storage Technology Co., Ltd.
   Creditor: Baoding Branch of China Everbright Bank Co., Ltd.
   Guarantor: Hunan Keli Yuan New Energy Co., Ltd.
   Guarantee method: Joint liability guarantee
   Guarantee amount: 30 million yuan
   Guarantee period: Three years from the expiry of the specific credit contract or agreement.
   Scope of guarantee: The principal, interest (including statutory, agreed, and penalty interest), compound interest, penalties, damages, costs for realizing the debt (including litigation/arbitration fees, lawyer fees, preservation costs, appraisal fees, travel expenses, notarization, enforcement costs, etc.), and all other payable expenses (“the guaranteed debt”).

5. Guarantor: Hebei Keli Yuan Hybrid Energy Storage Technology Co., Ltd.
   Creditor: Baoding Branch of Industrial Bank Co., Ltd.
   Guarantor: Hunan Keli Yuan New Energy Co., Ltd.
   Guarantee method: Joint liability guarantee
   Guarantee amount: 270 million yuan
   Guarantee period: Three years from the expiry of the main contract’s debt performance period.
   Scope of guarantee: All claims arising from the creditor’s loans, financing, guarantees, and other financial services provided to the debtor under the main contract, including principal, interest (including penalties and compound interest), penalties, damages, and costs for realizing the claims, as specified in the “Maximum Guarantee Contract.”

6. Guarantor: Yifeng County Jinfeng Lithium Industry Co., Ltd.
   Creditor: China Global Leasing Co., Ltd.
   Guarantor: Hunan Keli Yuan New Energy Co., Ltd.
   Guarantee method: Joint liability guarantee
   Guarantee amount: 80 million yuan
   Guarantee period: Three years from the expiry of the main contract’s debt performance period.
   Scope of guarantee: All debts owed by the debtor to the creditor under the main contract, including but not limited to all rent payments (including accelerated payments in case of early termination), purchase options, late interest, penalties, damages, legal fees, litigation costs, property preservation, travel expenses, enforcement fees, appraisal, notarization, auction fees, and other reasonable costs for realizing the claim, as well as any additional amounts due to changes in interest rates or legal, regulatory, and policy changes.

7. Guarantor: Hunan Keli Yuan Energy Co., Ltd.
   Creditor: Dafen Bank Co., Ltd., Guangzhou Branch
   Guarantor: Hunan Keba Automotive Power Battery Co., Ltd.
   Guarantee method: Joint liability guarantee
   Guarantee amount: 30 million yuan
   Guarantee period: Two years from the expiry of the main contract’s debt performance period.
   Scope of guarantee: As specified in the signed guarantee contract.

8. Necessity and Rationality of Guarantees

The company’s guarantees for subsidiaries are to meet their funding needs for business development, aligned with the company’s overall interests and strategic development. The guarantee amounts are within the expected limit for the year, and the company has control over the guaranteed parties, allowing timely monitoring of their operations and credit status. The overall risk is manageable and will not affect shareholders’ interests, making the guarantees necessary and reasonable.

Hebei Keli Yuan, as a controlling grandchild company included in the company’s consolidated financial statements, is under the company’s control in management and finance. Other shareholders of Hebei Keli Yuan have not provided proportional guarantees.
Minority shareholders of Jinfeng Lithium, Hainan Sanqiang Investment Partnership (Limited Partnership), provide counter-guarantees in proportion to their shareholding, keeping risk within controllable scope.

The wholly owned subsidiary Hunan Keba’s guarantee is to meet the company’s funding needs, supporting steady development. The company’s repayment capacity is good, with no significant contingent liabilities affecting debt repayment. Overall, the guarantee risk is controllable, and it does not harm the company’s or minority shareholders’ interests, making it necessary and reasonable.

5. Total External Guarantees and Overdue Guarantees

As of the disclosure date, including this guarantee, the total external guarantee amount of the company and its controlling subsidiaries is 7,190.18 million yuan (signed guarantee agreements within the guarantee period). The total guarantee amount for controlling subsidiaries is 5,832.18 million yuan. These figures account for 261.68% and 212.26% of the latest audited net assets, respectively. Currently, there are no overdue guarantees or guarantees provided to shareholders or related parties.

This announcement is hereby made.

Hunan Keli Yuan New Energy Co., Ltd. Board of Directors
March 19, 2026