RUIFENG POWER (02025) responds to the high concentration of equity and will take appropriate steps to verify the matters stated in the announcement of the China Securities Regulatory Commission.

RUIFENG POWER (02025) released an announcement, stating that the company has noted the announcement issued by the Securities and Futures Commission (SFC) on March 9, 2026 (SFC Announcement). According to the SFC Announcement, the SFC recently conducted an inquiry into the shareholding structure of the company. The inquiry results revealed that as of February 24, 2026, a total of 22 shareholders and related parties collectively held 148 million shares of the company's stock, equivalent to 18.52% of the company's issued shares. These shares, along with the 572.6 million shares held by one controlling shareholder and three major shareholders (constituting 71.58% of the issued shares), amount to 90.10% of the company's issued shares. Therefore, only 79.1658 million shares (9.90% of the issued shares) are held by other shareholders. In response to the SFC Announcement, the board of directors hereby provides the following additional information: as of the date of this announcement, the shareholder holding the remaining 227 million shares (approximately 28.42% of the issued shares as of February 24, 2026), excluding Dragon Leap Venture Limited, Bright Holdings Limited, Macro Partnership Limited, and Growing Limited, are all independent third parties with no connection to the company or its related parties. The board of directors has decided to take appropriate steps to verify the matters stated in the SFC Announcement, and will encourage the exercise of stock options and share awards to reduce the concentration of shareholdings. The company will make further announcements as soon as practicable to provide shareholders and potential investors with updated information.