Stock Code: 200771 Stock ID: Hangqilun B Announcement No.:2025-132

Hangzhou Turbine Power Group Co. Ltd.Announcement on the Termination of the Company's Stock Listing and Delisting

The members of the Board and the Company acknowledge being responsible for the truthfulness

accuracy and completeness of the announcement. There are no false records misleading

statements or significant omissions in this announcement.Special Reminder:

The Company's stock has been decided by the Shenzhen Stock Exchange to be delisted

and will be delisted from the exchange on December 22 2025.Hangzhou Hirisun Technology Incorporated .(hereinafter referred to as "Hirisun") plans to

absorb and merge Hangzhou Turbine Power Group Co. Ltd. (hereinafter referred to as "HTC" or

the "Company") by issuing A-shares to all share exchange shareholders of HTC. The relevant

matters of the Transaction have been approved at HTC's Second extraordinary general meeting of

shareholders in 2025 and have obtained the approval from the China Securities Regulatory

Commission (hereinafter referred to as the "CSRC") by the document "Approval of Registration

for Hangzhou Hirisun Technology Incorporated. to Absorb and Merge Hangzhou Turbine Power

Group Co. Ltd." (No. 2141 [2025]CSRC Permit).According to the plan for the stock exchange merger The Company submitted an application

to the Shenzhen Stock Exchange (hereinafter referred to as the 'SZSE') for the delisting of its

shares on November 26 2025 and later received the "Letter of Acceptance for the Application for

Delisting of Shares of Hangzhou Turbine Power Group Co. Ltd." (No. 354 [2025]Company

Department Letter) issued by the SZSE on December 2 2025.On December 18 2025 the SZSE

issued the "Decision on the Delisting of Hangzhou Turbine Power Group Co. Ltd. Shares"

(No.1431[2025]SZSE). According to this decision the Company's shares will be delisted and

removed from the exchange starting from December 22 2025.

1I. Type Code of Delisted Stock Abbreviation Date of Delisting Decision Date of Removal

from Listing

Security Type: RMB Special Stock (B Share)

Stock Code: 200771

Stock ID: Hangqilun B

Date of Delisting Decision: December 182025

Date of Removal from Listing: December 222025

The Company's shares will be delisted starting from December 22 2025. The record date for the

stock exchange merger of HTC by Hirisun is December 19 2025. After the market closes on the

record date the shares held by HTC shareholders will be converted into Hirisun shares at a 1:1

ratio.For HTC shares that have already been pledged judicially frozen or are subject to legal or

regulatory transfer restrictions such shares will all be converted into Hirisun shares during the

share exchange. Any pledges judicial freezes or other rights restrictions previously imposed on

the HTC shares will continue to apply to the corresponding Hirisunshares received in the

exchange.The Hirisun A-shares acquired by the Company's shareholders will be listed and traded on

the Shenzhen Stock Exchange after initial registration at the Shenzhen Branch of China Securities

Depository and Clearing Corporation Limited. The specific listing date will be announced

separately by Hirisun.II. Arrangements after Termination of Listing

1. Arrangement for Transfer or Delivery of Assets

According to the "Share Exchange Absorption Merger Agreement between Hangzhou Hirisun

Technology Incorporated. and Hangzhou Turbine Power Group Co. Ltd." signed by Hirisun and

HTC this share exchange absorption merger will be settled on the delivery date， and thearrangements for the transfer of related assets liabilities contracts etc. are as follows:

(i) Asset Delivery

From the date of delivery HTC shall transfer ownership of all its assets (including but not limited

to all properties trademarks patents franchise rights construction in progress and other assets)

2and the associated rights interests liabilities and obligations to Hirisun who shall enjoy and

assume them. HTC agrees that from the date of delivery it will assist Hirisun in handling the

formal procedures for transferring all registrable property of HTC (referring to any property for

which the law prescribes specific procedures for the establishment or transfer of property rights or

rights related to such property including but not limited to land real estate vehicles vessels

trademarks patents etc.) to Hirisun. Failure to complete the formalistictransfer procedures due to

reasons such as registration changes shall not affect Hirisun’s rights to enjoy and assume the

obligations of the aforementioned assets.After the completion of this merger the equity of subsidiaries currently held by HTC will

belong to the surviving company and will be re-registered as subsidiaries of the surviving

company. Any branches of HTC (if any) will belong to the surviving company and will be

re-registered as branches of the surviving company.(ii) Debt Succession

Except for debts that are repaid early due to the creditor's request for early repayment within the

statutory period all outstanding debts of both parties to the merger will be assumed by Hirisun

after the closing date of this merger.(iii) Contract Succession

After the share exchange absorption merger closing date the party to all valid

contracts/agreements signed by HTC shall be changed to Hirisun including the rights obligations

and interests thereunder.(iv) Handover of Materials

On the closing date HTC shall hand over all its bank account information reserved seals and all

company seals to Hirisun. From the closing date onward HTC shall transfer to Hirisun any and all

documents that have a significant impact on its subsequent operations.(v) Transfer of Shares

Hirisun shall register the A-shares issued to HTC shareholders as consideration for this merger

under the names of the HTC shareholders on the share exchange date. From the date the newly

added shares are registered under their names the HTC shareholders shall become shareholders of

Hirisun.

32. Personnel Arrangement

After the completion of this share exchange and merger the employment contracts of all Hirisun

employees will continue to be performed by the surviving company and the employment contracts

of all HTC employees will be assumed and continued by the surviving company. HTC's rights and

obligations as the employer of its current employees will be enjoyed and undertaken by the

surviving company from the date of this merger and acquisition closing.

3.Reduction of Holdings by Directors Supervisors and Senior Management

If directors supervisors and senior management of HTC continue to serve as directors or senior

management at Hirisun any reduction of their shareholdings will be carried out in accordance

with the relevant rules of the Shenzhen Stock Exchange's ChiNext board. If directors supervisors

and senior management of HTC do not continue to serve as directors or senior management at

Hirisun they shall not reduce their shareholdings within six months from the completion date of

the share exchange.III.Contact Person Contact Address Telephone and Other Communication Methods of the

Company After Delisting

After the Company's stock is delisted regarding matters related to stock exchange merger

investors are advised to pay attention to subsequent announcements published by Hirisun. If you

have any questions you can contact us through the following methods:

(A) Hangzhou Hirisun Technology Incorporated

Contact Person: Chen Xiang Zheng Xueqiong

Contact Address: Room 301 Building R2-B High-tech Industrial Village No. 206 Gaoxin South

7th Road High-tech Community Yuehai Street Nanshan District Shenzhen

Tel：0755-26972918

Fax：0755-26972818

(B) Hangzhou Turbine Power Group Co. Ltd.

Contact Person: Wang Gang Li Xiaoyang Wang Caihua

Contact Address: No.1188 Dongxin Road Gongshu District Hangzhou

Postal code: 310022

Tel：0571-85780198，0571-85780438，0571-85784795

4Fax：0571-85780433

This announcement is hereby made.The Board of Directors of Hangzhou Turbine Power Group Co. Ltd.December 192025

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