Yishi Tong: The fluctuation of metal chromium prices has a relatively small impact on the cost of the company's SOFC products.

Given the recent high level of investor interest in the Zhonestone solid oxide fuel cell (SOFC) project, in order to promptly respond to investor concerns, the company organized a special SOFC project exchange meeting with securities analysts on November 11, 2025. The company initiated the SOFC project in 2020 and formed a dedicated research and development team to develop solid oxide fuel cell technology, conducting research and development work along the industrial chain direction such as key powder materials, single cells, cell stacks, systems, etc., for the past five years. As of now, the company has achieved self-supply in key areas of the SOFC industrial chain such as key powder materials, single cells, cell stacks, and key components, which helps to reduce the cost of mass production and ensure quality stability, laying a solid foundation for gradual industrialization. Different from competitors' SOFC product architecture, the company's SOFC products use conventional stainless steel as the main material for connections, significantly reducing the amount of chromium used, resulting in a smaller impact from fluctuations in the price of metallic chromium on the cost of the company's SOFC products.