ST Tony: Intends to transfer a total of 31.698% equity stake in Tony Energy.

ST Tony Announcement: In order to further strategically focus on our main business, quickly recover funds, optimize asset structure, enhance overall core competitiveness and sustainable development capabilities, the company plans to transfer a total of 31.698% equity of its holding subsidiary Huzhou Tony New Energy Co., Ltd. - 21.698% of the equity will be transferred to Huzhou Dongli and Huzhou Talent Fund Phase II, with a transaction price of 230 million yuan; 10% of the equity will be transferred to the newly established employee stock platform of the core management team of Tony New Energy for equity incentive, with a transaction price of 33.3567 million yuan. After this transaction is completed, the company's equity stake in Tony New Energy will decrease from 65% to 33.302%, and Tony New Energy will no longer be a subsidiary of the company and will not be included in the company's consolidated financial statements.