Guozi Robotics equity valuation report released for planned swap

An asset appraisal report has been released concerning the proposed equity swap between Zhejiang Hangcha Intelligent Technology and Zhejiang Guozi Robotics. The report, prepared by Kunyuan Asset Appraisal, focuses on the valuation of all shareholders' equity in Guozi Robotics. The appraisal basis date is set for March 31, 2025. The conclusion of the appraisal places the total shareholders' equity value of Guozi Robotics at CNY 401,000,000.00. Hangcha Intelligent commissioned this valuation to facilitate the equity swap. The intended use of this report is for providing a reference for this specific equity swap transaction. The effective period for this valuation ends on August 30, 2026. The report was issued on June 10, 2025.