Xizi's controlling shareholder's equity stake was passively diluted to 12.02% due to the conversion of convertible bonds.

Announcement of Xizi Clean Energy Equipment Manufacturing Co., Ltd.: From August 11th to September 19th, 2025, due to the conversion of 100,771,147 shares of the company's convertible bonds and the previous buyback and cancellation of 4,149,500 shares, the shareholding percentage of Hangzhou Industrial Investment Group Co., Ltd., a shareholder with more than 5% ownership, has decreased passively from 13.67% to 12.02%, reaching a dilution ratio of 1.65%. This equity change does not involve a tender offer, will not result in changes to the company's controlling shareholder, actual controller, or concerted action parties, does not affect the company's governance structure and ongoing operations.