Aixu Shares Terminate GDR Listing on Swiss Stock Exchange and Increase 6 Billion yuan to Expand 15GW Battery Project of Yiwu Phase VI

27, Aixu issued a series of announcements.

Announcement 1: Announced the termination of the GDR listing plan issued by the Swiss Stock Exchange. In January

this year, Aixu announced its intention to issue Global Depositary Receipts (GDR) in Switzerland and apply for listing in Switzerland. Only half a year

later, it announced the termination of the plan.

Regarding the reasons for the termination, Aixu said that since the announcement of the relevant bills on the issuance and listing, the board of directors, management and relevant intermediaries of the company have been actively promoting the work of the GDR issuance. Considering the changes in domestic and overseas markets, based on the Company's actual operating and financial conditions, capital needs and long-term business strategic planning, and in order to fully protect the interests of all shareholders, the Company conducted in-depth discussions with relevant intermediaries, and after careful analysis and communication, decided to terminate the issuance of overseas global depositary receipts.

Announcement II: About the adjustment of the investment amount of the 15GW high-efficiency crystalline silicon solar cell project in Yiwu, Zhejiang.

Aixu intends to increase the investment amount of the compulsory 15GW high-efficiency crystalline silicon solar cell project from 7.661 billion to 8.516 billion (including liquidity).

The announcement shows that the capital adjustment is due to the project adjustment.

Aixu said that after investigation, the company decided to upgrade the production technology of the original 15GW battery project in Yiwu, and the upgraded capacity will be used to produce a new generation of N-type ABC battery products to meet the market demand for double-sided high-efficiency crystalline silicon batteries, resulting in an increase in the total investment amount of the project.

In addition, the project name, construction site and project capacity scale have not changed.

Announcement III: Increase 6 billion to expand 15GW high-efficiency crystalline silicon solar cell project in Yiwu.

After announcing an increase in investment in Yiwu projects, Aixu shares also announced a fixed stock increase plan to raise a total of no more than 6 billion yuan (including the number) by issuing shares to specific targets, which will be used for Yiwu 15GW battery project and supplementary liquidity after deducting related issuance fees.

According to the announcement, the company has completed the first phase of the company's layout in the field of N-type high-efficiency solar cells and realized the first large-scale production of ABC batteries through the construction and implementation of the "Zhuhai Annual Output of 6.5G W New Generation High-efficiency Crystalline Silicon Solar Cell Construction Project".

This project "Yiwu Phase VI 15g W High-efficiency Crystalline Silicon Solar Cell Project" is the company's expansion in the field of N-type ABC batteries, which is an important part of the company's continuous improvement of advanced production capacity, as well as an important measure for the company to increase its market share and consolidate its leading edge in the industry.

According to reports, the company plans to invest 8.516 billion yuan in the construction of a new generation of N-type ABC high-efficiency solar cell project in Yiwu, Zhejiang Province. The planned construction period of the project is 18 months. It is planned to use the raised funds of RMB 4,500,000,000, and the remaining funds required for the project will be supplemented by the self-raised funds of the Company.