New Share Announcement | Nali New Materials Plans Hong Kong IPO The China Securities Regulatory Commission requires supplementary explanations on the pricing basis for the company's previous capital increases and equity transfers, and whether the paid-in capital has been fully contributed, etc.

On August 28, the China Securities Regulatory Commission (CSRC) issued the "Supplementary Material Requirements for Filing of Overseas Issuance and Listing (August 24, 2026 August 28, 2026)." The International Department of the CSRC requested supplementary materials from five companies. Among them, Nali New Materials was asked to further explain the pricing basis for its previous capital increases and equity transfers, whether actual contributions were made, whether there are any unfulfilled capital contribution obligations, capital withdrawal, or defects in the method of capital contribution, and to issue a clear conclusion regarding the legality and compliance of the establishment and past equity changes. According to the Hong Kong Stock Exchange's disclosure on May 28, Yangzhou Nali New Materials Technology Co., Ltd. (referred to as: Nali New Materials) submitted an application for listing on the main board of the Hong Kong Stock Exchange, with BNP PARIBAS as its sole sponsor. The CSRC asked Nali New Materials to supplement the following matters and requested legal verification from lawyers to provide clear legal opinions: 1. Regarding equity changes: (1) Please explain the pricing basis for your company's previous capital increases and equity transfers, whether actual contributions were made, whether there are any unfulfilled capital contribution obligations, capital withdrawal, or defects in the method of capital contribution, and provide a clear conclusion regarding the legality and compliance of the establishment and past equity changes; (2) Please state whether there were any instances of shareholding by proxies in your company's historical development. 2. Regarding shareholder situation: (1) Please explain if there are any domestic entities banned from holding shares after the upstream penetration of your company's shareholders with more than 5% shareholding; (2) Please provide an update on the progress of handling state-owned shareholder identification by Jiantou Investment; (3) Please clarify the reasonableness of the prices at which new shareholders join within the last 12 months, the reasons for any disparities among such prices, and provide a clear conclusion regarding the existence of any benefit transfer. 3. Regarding equity incentives: (1) Please verify if the five departing employees of your company hold equity according to the employee stock ownership plan provisions or agreements, and explain the progress on the transfer of shares and changes in registration for the relevant personnel's holding platform; (2) Please provide a clear conclusion regarding the legality and compliance of the implementation of the employee stock ownership plan and whether there is any benefit transfer. 4. Please explain whether the issuer's business involves excess capacity controlled by the National Development and Reform Commission, the Ministry of Industry and Information Technology, etc., and whether it complies with the national "anti-involution" policy requirements, providing relevant basis. 5. Regarding this issuance and listing: (1) Please explain the expected amount of raised funds after fully exercising the over-allotment option; (2) Please clarify whether there are any pledges, freezes, or other rights defects concerning the shares held by the participating "full circulation" shareholders. The prospectus indicates that Nali New Materials is a globally leading new energy materials company focused on the research and manufacturing of advanced functional composite electrolytes, providing cutting-edge functional composite electrolyte products and technical solutions for battery manufacturers and electric vehicle manufacturers. According to data from Frost & Sullivan, Nali New Materials ranks third among global manufacturers of functional interface electrolytes by shipment volume in 2025. As of December 31, 2025, the company ranks first among global manufacturers of composite electrolytes, with an annual production capacity of 62.9 million square meters for atomic deposited electrolytes, which are special composite electrolytes that undergo atomic deposition treatment to enhance safety performance, increase energy density, and reduce costs.