Stock Code：301325

2025

Sustainability Report

Shenzhen Manst Technology Co. Ltd.Factory Building 3 Unit C No. 101~201 Third Industrial Zone Zhukeng Community

Longtian Street Pingshan District Shenzhen

0755-89369620

www.manst.comCONTENTS

01 Advancing Steadily and Securely Empowering Value Co-creation Fortifying the Foundation of through Innovation and QualityCompliant Governance 03

Preface to This Report 01 Standardized Governance System ?? Innovation-Driven Development 53 Content Indexes 111

Strengthening the Compliance Defense Enhancing Product Quality 65 Independent Assurance Statement 112

About This Report 01 Line ??

Sustainable Supply Chain 69 Reader Feedback 115

Message from the Chairwoman 03 Adherence to Business Ethics ??

Safeguarding Shareholders’ Rights and Protection of Customers’ Rights and Interests 75

About Manst 05 Interests ??

Safeguarding Information Security 76

Spotlight：Focusing on Green

Energy Storage Building a Striving Forward with

02 Low-Carbon Environmental Low-Carbon Energy Future 11 04 Determination Uniting Hearts Protection Practicing Ecological and Minds to Write a Glorious Responsibility

Sustainable Development Chapter

Management 17

Addressing Climate Change 33 Safeguarding Employee Well-being 81

Sustainable Development Deepening Environmental Governance 36 Focusing on Talent Development 90

Governance 17

Optimizing Resource Utilization 43 Strengthening Employee Care 98

Stakeholder Communication 19

Strict Control of Pollution Discharge 47 Safeguarding Health and Safety 101

Materiality Issues Analysis 20

Practicing Social Responsibility 1101 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 2

Preface to This Report Data Sources

The data in this report is sourced from the internal original ledgers internal documents audit reports and other materials

About This Report of Manst with some financial data from the Company’s 2025 Annual Report. Unless otherwise specified all amounts in

this report are expressed in RMB.Introduction Glossary

This report is the second Sustainability Report released by Shenzhen Manst Technology Co. Ltd. In the principles of For the convenience of expression and reading “Shenzhen Manst Technology Co. Ltd.” is also referred to as “Manst” “theobjectivity standardization transparency and comprehensiveness this Report details the sustainability practices and Company” or “We”. Please refer to the detailed names of its subsidiaries in the table below.achievements of Manst and its holding subsidiaries in 2025.Term Company Name

Reporting Scope

Anman Technology Anhui Manst Technology Co. Ltd.Chongman New Materials Chongqing Manst New Materials Technology Co. Ltd.Reporting Period

Suman Hydrogen Energy Suzhou Manst Hydrogen Energy Technology Co. Ltd.This report covers the period from January 1 2025 to December 31 2025 (hereinafter referred to as the “ReportingHuaiman Automation Huaian Manst Automation Equipment Co. Ltd.Period”). To improve the comparability and completeness some sections of this report may be appropriately referred to

previous years or contain forward-looking statements. Huaiman Fluid Huaian Manst Fluid Technology Co. Ltd.Scope of Organization Manen Optoelectronics Shenzhen Manst Optoelectronics Technology Co. Ltd.Hunan AC AC New Energy (Hunan) Co. Ltd.This report focuses on Shenzhen Manst Technology Co. Ltd. and its subsidiaries and branches etc. The scope of this

Report is consistent with the scope of the Company’s annual consolidated financial statements unless otherwise stated. AC NEWENERGY AC New Energy (Shenzhen) Co. Ltd.Dongguan AC AC New Energy (Dongguan) Co. Ltd.Basis of Preparation Aoruike Changzhou Aoruike Precision Measurement System Co. Ltd.This report has been prepared in accordance with the Shenzhen Stock Exchange Self-Regulatory Guidelines for Listed Access to This Report

Companies No. 17 — Sustainability Report (Trial) and the Shenzhen Stock Exchange Self-Regulatory Guidelines for

Listed Companies No. 2 — Standardized Operation of ChiNext Listed Companies and Self-Regulatory Guidance No. 3

for Companies Listed on the ChiNext Market of Shenzhen Stock Exchange—Preparation of Sustainability Report (2026 This report is available in both Simplified Chinese and English versions for readers’ reference and can be viewed and

Revision). In addition the preparation of this report has drawn reference from the Sustainability Reporting Standards (2021 downloaded at www.manst.com www.szse.cn and www.cninfo.com.cn.Edition) issued by the Global Reporting Initiative as well as the Sustainable Development Goals (SDGs).3 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 4

Message from the Chairwoman

In 2025 guided by the vision of “Making Coating Simple” and the mission of “Becoming a Chinese Force Transforming Deepening Technological Innovation and Ensuring Quality Service. The Company has established an integratedthe Coating Ecosystem” Manst advanced steadily amidst the waves of transformation in the new energy and pan- independent R&D system. Relying on innovation platforms such as the CNAS-accredited testing laboratory and

semiconductor industries. Our business layout continued to be optimized and the momentum of innovation remained provincial-level engineering technology research centers we conduct technological research in areas like high-precision

strong and sustained. We made solid progress in compliance governance green and low-carbon initiatives technological coating solid-state batteries perovskite energy storage and hydrogen energy. Achievements include the solid-state

innovation talent development and social responsibility writing a new chapter of high-quality and sustainable corporate battery electrode manufacturing solution double-layer dual-control ceramic coating dies and X-Ray full-inspection

development through practical efforts and deep cultivation. areal density meters. We have established a full-lifecycle quality management system and built a standardized refined

and sustainable supply chain management system incorporating ESG requirements into supplier management.The Company has established a four-tier collaborative sustainability governance structure comprising the Board of

Simultaneously we implement customer rights protection emphasize information security and privacy protection and

Directors the Board's Strategy and Sustainable Development Committee the Sustainability Management Working

safeguard the information security of customers and stakeholders.Group and various departments. This integrates sustainability into strategic planning daily operations and risk

management and incorporates it into management performance evaluations. The Company has established a two-way Safeguarding Employee Well-being and Practicing Social Responsibility. We adhere to a people-oriented approach and are

interactive stakeholder communication mechanism to promote the implementation of the sustainability concept across committed to providing employees with fair recruitment employment opportunities and a comprehensive compensation

the entire value chain and is continuously striving for greater achievements in environmental social and governance and benefits system. Through diverse employee activities and care programs we create a warm and harmonious work

(ESG) aspects. atmosphere with special attention to protecting women’s rights and promoting workplace equality. We build diversified

career development paths for employees and support their growth through systematic training systems. A comprehensive

Optimizing Governance Mechanisms to Ensure Stable Operations. We have built a corporate governance system with

occupational health and safety management system is established to ensure employee safety and health. Furthermore

clear rights and responsibilities ensuring the standardized operation of the General Meeting of Shareholders the Board

we actively fulfill social responsibilities regularly carrying out ecological public welfare and community care activities to

of Directors and management. We have improved the internal control and compliance management systems conducted

convey the Company’s warmth.regular and special audits established a full-process risk management and control mechanism and standardized tax

management and information disclosure. We uphold business ethics implement requirements against commercial The journey is long ahead with strong tailwinds; great responsibilities call us to forge ahead anew. In the future Manst

bribery corruption and unfair competition communicate with investors through multiple channels and safeguard the will continue to deepen the concept of sustainable development basing it on standardized governance pursuing it

legitimate rights and interests of shareholders. No major compliance risk incidents occurred during the Reporting Period. through green and low-carbon paths centering it on technological innovation grounding it in talent development and

prioritizing responsibility. We will continuously enhance development quality and capacity. We will join hands with all

Practicing Green Development Protecting the Ecological Environment. The Company integrates the concept of

shareholders customers partners and employees to move forward together. With firm conviction and pragmatic actions

green development into the entire operational process. Several subsidiaries have obtained ISO 14001 Environmental

together we will write the next chapter of sustainable development contributing greater strength to industry progress and

Management System certification establishing environmental compliance and pollution prevention systems. Hazardous

social development!

waste domestic sewage industrial exhaust gases and factory boundary noise are all disposed of and discharged

in compliance with standards. We are advancing green projects including distributed photovoltaic systems at Anman

Technology the Huaiyin Shared Energy Storage Power Station and desertification control and energy storage projects Tang Xuejiao Chairwoman of Shenzhen Manst Technology Co. Ltd.in Xinjiang. We promote energy conservation consumption reduction and resource recycling continuously reducing

operational energy consumption and carbon emissions.5 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 6

About Manst Corporate Culture

Company Profile

Brand Interpretation

Shenzhen Manst Technology Co. Ltd. (hereinafter referred to as the “Company” or “Manst”) was founded in 2014 and MANST

was listed on the Shenzhen Stock Exchange in May 2023 (Stock Code: 301325). Make A New Step

Focusing on the R&D and application of coating technology Manst is a national high-tech enterprise and a national-level Dare to Break Through

Specialized and Sophisticated “Little Giant” enterprise. The Company operates a number of research platforms including Keep Moving Forward

a CNAS-accredited testing laboratory the Guangdong Provincial Engineering Technology Research Center and a Become a World-Class Leader in Coating Technology

Shenzhen Postdoctoral Innovation Practice Base.For many years adhering to the vision of “Making Coating Simple” and the mission of “Becoming the Chinese Force thatChanges the Coating Ecosystem” the Company has continued to deepen its expertise in coating technology and pursue

technological innovation. Through sustained R&D investment and market expansion the Company has broken foreign Vision Brand Positioning

technological monopolies achieved import substitution and become an internationally advanced provider of coating

Making Coating Simple Internationally Advanced Coating Technology

technology solutions.Solutions Provider

Mission Management Policy

Committed to Becoming the Chinese Force that Built on Integrity Centered on Uniqueness; Thriving

Changes the Coating Ecosystem with Technology Triumphing with Quality

Business Philosophy Talent Management Philosophy

Precision in Planning Execution Research and Recognizing People’s Abilities Utilizing Their

Improvement Strengths Cherishing Talents

Code of Conduct

Goal-oriented Responsible;

Capable of Striving Capable of Advancing;

Daring to Break Through Daring to Innovate.7 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 8

Business Overview

2020-20222023

The Company’s business is primarily divided into two segments: Coating Applications and Energy Systems. The Coating

Applications segment mainly includes lithium-ion battery and pan-semiconductor businesses with products covering core Shareholding system reform growing into a Listed on ChiNext Market; honored as a

components and intelligent equipment. The Energy Systems segment primarily includes energy storage and hydrogen Specialized and Sophisticated “Little Giant” “Manufacturing Single Champion Enterprise”

energy businesses offering solutions such as energy storage system solutions and hydrogen energy system solutions.Submitted ChiNext board listing application Listed on the Shenzhen ChiNext Market officiallyAwarded “National Specialized and Sophisticated entering the capital marketBusiness Segment Product Line Main Products

“Little Giants” Enterprise” Awarded the title of Awarded National Intellectual Property AdvantageCore Components Coating dies ceramic components measurement systems sensors “Guangdong Province Contract-abiding and Credit- EnterpriseSeries screw pumps miniature linear actuators dexterous robotic hands etc. worthy Enterprise” Awarded Guangdong Province Manufacturing Single

Coating Awarded 2022 Guangdong Province’s Famous and Champion Demonstration Enterprise

Applications Insulation coating systems slurry delivery systems intelligent slurry Intelligent High-tech Products Granted 2023 Outstanding Industrial Enterprise by the

preparation systems planar coating systems dry-process film-makingEquipment Series Awarded “2022 Pingshan District Output Value Rapid People’s Government of Pingshan District Shenzhensystems full-line intelligent factory solutions etc. Growth Enterprise” Established a joint laboratory for perovskite technology

Energy Storage Centralized energy storage commercial & industrial energy storage Awarded “Shenzhen Famous Brand” with the Shenzhen Institute of Advanced Technology

Energy System Solutions home energy storage systems etc. Established lithium battery coating engineering Chinese Academy of Sciences

Systems Hydrogen Energy PEM water electrolysis membrane electrodes PEM electrolysis cells technology center and production center for roll-to- Acquired Hunan AC expanding into the energy

System Solutions skid-mounted hydrogen generation systems via water electrolysis etc. roll coating storage sector

Development History

Diversified development building a technological innovation moat

2014

Awarded Guangdong Provincial Engineering Technology Research Center for

Establishment Intelligent and High-Precision Coating Equipment in the New Energy Sector

With the aim of making coating simple and embarking on a journey of coating technology research Approved to establish the “Shenzhen Postdoctoral Innovation Practice Base”

development production and sales Approved for the “Shenzhen Enterprise Technology Center” certification

Achieved Level 3 Certification in Intelligent Manufacturing Capability Maturity

Awarded the honor of “China Patent Award”

Awarded the honor of “Shenzhen Industrial Excellence Award”

2018-2019 Successfully awarded the contract for the first GW-level (2.4 m) perovskite

Continuous product innovation stepping into the ranks of national coating system

high-tech enterprises Successfully awarded the contract for the first large-scale mass production line

for panel coating systems

Awarded “China National High-Tech Enterprise” Received the first panel complete line equipment order

Awarded “Shenzhen High-Tech Enterprise” Successfully awarded the contract for a 1.2 GWh grid-side standalone energyAward “Golden Globe Award for Lithium Battery Innovative Technology Product storage power station projectIncluded in the list of “Enterprise Above Designated Size” The perovskite 1200mm×600mm pilot platform was officially launched

Achieved over 100 million in output value9 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 10

Partners Honors and Awards

Shenzhen Manufacturing Single Champion

Shenzhen Industrial Excellence Award Shenzhen Enterprise Technology Center

Enterprise

Manst Manst Manst

Hunan AC — Hunan Province Specialized

Specialized and Sophisticated “Little Giant” AC NEWENERGY — High-Tech

and Sophisticated Small and Medium-sized

Enterprise Enterprise

Enterprise (SME)

Manst Subsidiary Subsidiary

Hunan AC — 2025 9th Energy

Hunan AC — Core Enterprise Storage Innovation Competition

Golden Information Disclosure

China Patent Excellence Award in China’s New Energy - Application Innovation Group

Award

Storage Supply Chain - Large Storage Track Excellent

Project

Manst Manst Subsidiary Subsidiary11 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 12

Spotlight:Focusing on Green Energy Storage

Building a Low-Carbon Energy Future

Hunan AC a subsidiary of Manst focuses on the R&D and application of energy storage technology. Always guided by

the core principle of green development and relying on technological innovation and scenario-based solutions it provides

global customers with extremely safe efficient and intelligent integrated services for wind power photovoltaics and

energy storage. It actively responds to the national “dual carbon” (carbon peak and carbon neutrality) strategy and the Product Types Application

new power system construction policies empowering the green and low-carbon transformation of energy with energy

Commercial & Industrial Scenarios

storage and assisting the entire value chain in achieving safety efficiency emission reduction energy consumption

Storage Industrial Parks

reduction and sustainable development.Commercial Buildings

Charging Stations

Product Types Application

Residential Storage Scenarios

Home Energy Storage

Green Products: Systematic Layout Consolidating the

Foundation of Green Energy Storage Products and solutions provided by Hunan AC have been widely applied in diversified scenarios such as thermal power

frequency regulation renewable energy (wind/solar) plus storage grid peak shaving and frequency regulation source-

Leveraging core technologies and scenario adaptation capabilities Hunan AC has built a multi-level green product grid-load-storage integration integrated energy utilization emergency backup power and electricity trading. With an

matrix centered on centralized energy storage with commercial & industrial and residential energy storage as main international perspective and market competitiveness they have been exported to numerous countries and regions

components. Covering all scenarios including generation-side grid-side and user-side it promotes the iterative upgrade globally including Europe South Asia and Africa contributing to the global energy transition with full-scenario green

of energy storage products towards safety efficiency low-carbon and intelligence providing stable and reliable green products.energy storage support for various energy scenarios.Green Services: Full-Cycle Empowerment Practicing Low-

Product Types Application Scenarios Carbon Service Philosophy

Centralized Energy Grid-Side Energy Storage

Hunan AC has established a one-stop full-lifecycle green service system spanning the entire process from project

Storage New Energy Power Stations

development equipment supply operation and maintenance to residual value recovery. It integrates the green and low-

Shared Power Stations

carbon concept into every link of services balancing customer economic benefits with environmental sustainability and

achieving synergistic progress between energy services and green development.13 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 14

By the end of 2025 the project had operated safely for over 120 days with a cumulative discharge exceeding 14

Project Development Equipment Supply million kWh equivalent utilization hours exceeding 620h and a cumulative carbon reduction exceeding 7800 tonnes.Customize integrated wind power photovoltaic Focus on the R&D design and manufacturing of It effectively alleviated the regional power supply shortage enhancing the grid’s capacity to accommodate renewable

and energy storage solutions for customers energy storage equipment using environmentally energy and improving system resilience.optimize system configuration and operation friendly and efficient core components to provide

strategies to maximize customer customers with safe reliable low-carbon

economic benefits ct nt 0 e 1 E and energy-saving energy storage oj epm qlo S solutions

One-stop

04 Full-lifecycle 02

Green Service

io

Operation and Maintenance e n s i dna R e e Residual Value Recoverync e e R

Provide comprehensive operation 03 Valu Establish a full-lifecycle management Xinjiang Hetian 12.87MW/92.23MWh Desert Control Microgrid Energy Storage Project

and maintenance services for energy storage system for energy storage products conduct

power stations ensuring long-term efficient and residual value assessment recycling and reusing This project passed acceptance in 2025 with a total scale of 14MW/100MWh. It is equipped with 469 sets of

stable operation reducing energy consumption to achieve efficient resource cycling and practice 30kW/215kWh energy storage units along with photovoltaic power generation units water pumps and other facilities.and O&M carbon emissions through intelligent the concepts of circular economy and green Among them 429 sets of equipment were directly supplied by Hunan AC completed in three phases. The project serves

monitoring and refined management development. a 76000-mu (approx. 5067 hectares) desertification control area in Hetian Xinjiang. Considering the vast and sparsely

populated characteristics a distributed layout is adopted with one set of photovoltaic energy storage equipment allocated

per 200 mu achieving full coverage of the desert control project area.Green Applications: Benchmark Implementation Unleashing By the end of 2025 the project had operated safely for over 100 days continuously providing stable and clean power for

Low-Carbon Ecological Value irrigation loads contributing to vegetation growth in the desert control area. It addresses the power support challenges

for desert control in border regions with a green energy solution contributing significantly to regional desertification

prevention control and ecological restoration.Using key projects as carriers Hunan AC implements green energy storage technology in demonstration projects

across multiple regions in China covering critical scenarios such as grid support new energy consumption ecological

management and emergency supply guarantee. It creates multiple values—environmental social and economic—

through technological strength becoming a benchmark model for green energy storage applications.Jiangsu Huai’an 50MW/100MWh Independent Shared Energy Storage Power Station Project

This project is an independent shared energy storage power station with significant exemplary significance. Officially

connected to the grid in 2025 it covers a total area of 16000 square meters and consists of 10 sets of 5MW/10MWh

energy storage units a 110kV step-up substation and supporting auxiliary facilities. The station adopts a modular

prefabricated cabin design featuring a short construction cycle compact footprint millisecond-level response capability

support for primary/secondary frequency regulation and enabling core functions such as peak shaving and valley filling

rapid frequency regulation and emergency backup power.D Pev re

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Hebei Zhangjiakou 300MW/1.2GWh Grid-Side Independent Energy Storage Power Station As of December 2025 the green energy storage business of Hunan AC had achieved significant environmental benefits.Delivered projects were estimated to save over 300000 tce (tonnes of coal equivalent) annually reduce carbon

This project is one of the first batch of key grid-side projects in Hebei Province with a total scale of 300MW/1200MWh. emissions by over 550000 tonnes per year and be equivalent to planting over 30 million trees per year fulfilling its

It is equipped with 60 units of 5MW/20MWh energy storage units supported by an EMS. The secondary communication commitment to low-carbon development with solid data and concrete actions.for the energy storage equipment adopts a ring aggregation network topology. The station is independently constructed

on the grid side not relying on photovoltaic or wind power projects and directly serving grid operation. It can provide From the systematic layout of green products to full-cycle support for green services and the benchmark implementation

multiple auxiliary services such as grid peak shaving smoothing new energy fluctuations participating in grid frequency of green applications guided by a full-lifecycle green development philosophy Hunan AC has established a low-carbon

regulation black start support and alleviating line congestion comprehensively enhancing the grid’s green and stable development system encompassing products services and applications. It enhances energy storage efficiency through

operation capability. technological innovation validates green value with benchmark projects and promotes energy transition through global

expansion creating outstanding environmental and social benefits alongside its own high-quality development by

collaborating with the entire industry chain.In the future Hunan AC will continue to deepen its expertise in the green energy storage field constantly iterate green

technologies optimize its product and service systems and expand domestic and international green application

scenarios. It aims to deeply empower the construction of the new power system with safer more efficient and lower-

carbon integrated energy storage solutions contribute to the national “dual carbon” goals and persistently contribute to

building a green low-carbon safe efficient and sustainable energy future.Ningxia Shizuishan 100MW/200MWh Photovoltaic Plus Storage Project

The project adopts a standard 20-foot 5MWh DC container paired with a 5MW integrated booster and an EMS. It

possesses core functions such as smoothing fluctuations improving consumption peak-valley arbitrage and providing

auxiliary services. It effectively addresses the intermittency and volatility challenges of photovoltaic power generation

transforming the PV system into a “controllable stable and high-yield” high-quality green power source facilitating

efficient regional new energy consumption and low-carbon development.17 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 18

Sustainable Development Management In 2025 the Company achieved favorable ratings in multiple third-party ESG assessments.Manst has deeply integrated sustainable development into its core corporate strategy and established a clear

accountable and multi-layered sustainable development governance system. It has set up a systematic two-way

interactive stakeholder communication mechanism to comprehensively promote the implementation of its sustainable

development strategy achieving synergistic development between the Company society and environment.Sustainable Development Governance

Manst is committed to building a sound and sustainable development governance system. Adhering to the overall

strategic deployment for sustainable development and following regulations such as the Working Rules for the

Board's Strategy and Sustainable Development Committee it continuously optimizes its sustainable development The Company regards the concept of sustainable development as a long-term value driver for high-quality development

governance structure and improves the reporting mechanism for sustainable development information. It promotes the deepening the dissemination of sustainable development concepts and promoting the widespread acceptance of green

achievement of sustainable development goals through systematic governance fully considering related impacts risks development principles. In 2025 leveraging global and domestic sustainability-themed occasions such as World Forest

and opportunities in strategic implementation risk management and major decision-making processes supporting Day World Water Day World Meteorological Day National Land Day and World Animal Day the Company regularly

the Company’s long-term stable development. Furthermore the Company incorporates sustainable development- conducted a series of thematic awareness-raising and training activities. Utilizing a multi-channel communication

related targets into management performance evaluations and compensation adjustment systems. These targets cover matrix it extensively conveyed the core concepts of sustainable development to the industry market public and

economic management safety and other aspects effectively motivating the entire organization to proactively practice internal employees reinforcing the value orientation of green development ecological protection and low-carbon

sustainable development and assume responsibility through institutional mechanisms. environmentalism.Company Sustainable Development Governance Structure In these promotional activities the Company deeply integrated the concept of sustainable development with its corporate

mission conveying to society its firm determination and action-oriented approach to proactively assume ecological

Level Body Responsibilities

and environmental responsibilities promote green upgrades within the industry and contribute to global sustainable

As the highest leadership and decision-making body for sustainability development. These efforts aimed to foster a positive atmosphere where the whole society jointly focuses on ecological

Top Decision- Board of

management it oversees and controls the Company’s overall strategic direction protection and practices green development.Making Level Directors

and major decisions and deployments regarding sustainable development.Performs the functions of researching supervising and guiding sustainability

Strategy and

work leads the implementation of environmental protection climate response

Decision- Sustainable

Making Level social responsibility fulfillment normative governance and related tasks Development

coordinates and promotes the collaborative development of ESG work and

Committee

reports to the Board of Directors.Composed of department heads and relevant liaison personnel from the

Sustainability Company and its subsidiaries with the Office of the Board of Directors as

Management

Level Management the lead unit providing comprehensive support and professional technical

Working Group assistance to the Strategy and Sustainable Development Committee in

performing its duties.Departments of As specific implementation units for sustainability management they integrate

Execution

the Company and sustainability requirements into daily operations and promote the effective

Level

Its Subsidiaries implementation of various initiatives.19 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 20

Stakeholder Communication Materiality Issues Analysis

Manst closely integrates industry characteristics and the Company’s actual operational situation while referencing

Based on industry characteristics and business operations Manst builds effective communication bridges for relevant requirements of mainstream domestic and international sustainable development reporting standards. It

stakeholders. It establishes regular and efficient communication mechanisms with shareholders and investors comprehensively assesses the Company’s performance across relevant issues understands the perspectives and

government and regulatory bodies customers partners employees communities and other stakeholders. By identifying expectations of various stakeholders evaluates and prioritizes the issues forming a dual-materiality matrix and

stakeholder expectations and actively responding to their concerns the Company creates greater value for all parties corresponding list of issues based on the two dimensions: “materiality to the corporate finances” and “materiality towhile enhancing its ESG performance. economic social and environmental impacts”.Materiality Issues Identification Process

Stakeholders Expectations and Needs Communication Channels Assessment Process of Material Topics Assessment Method

Analyze based on the macro-environment such as global macro-trends and China’s industrial

1 Background development trends the Company’s industry characteristics business model etc. to identify the

Sustained and stable returns Statutory information disclosure Research Company’s stakeholders and the impacts risks and opportunities it faces.Transparent and open information Regular performance briefings Use the 21 issues set in the Shenzhen Stock Exchange Self-Regulatory Guidelines for Listed

Shareholders and Investors Long-term stable development General Meetings of Shareholders Conduct Companies No. 17 — Sustainability Report (Trial) as the basis for the issue list refer to the

preliminary

2 requirements of international mainstream sustainability reporting standards and relevant issues topic in the same industry align with the United Nations Sustainable Development Goals (SDGs) and

Compliant operation screening establish the Company’s 2025 ESG issue database totaling 25 issues.Support for local development Regular work reporting

Government and Regulatory Implement green and environmental Ad hoc thematic communications

Identify the potential or actual positive and negative impacts of each topic on the external

protection requirements Assess the environment society and the economy. Conduct survey and analysis of stakeholders through Agencies 3 materiality of questionnaires. Through analysis of impact dependency and other factors combined with expert

topics judgment identify and assess risks and opportunities under relevant issues and evaluate issues

Product quality and safety Daily service liaison with impact materiality and financial materiality.Optimization of customer service Annual satisfaction surveys

4 Identify material Form a topic list based on impact materiality and financial materiality confirmed by the Board of

Customers Privacy and information security Ad hoc technical exchanges issues Directors to ensure transparent balanced and complete disclosure of relevant issues in the report.

2025 Materiality Matrix Governance Issues Social Issues

Adhere to business ethics Quarterly/annual performance review 1 Corporate Governance 14 Innovation-Driven

Cooperate with integrity and fairness The Company prioritizes materiality issues from the Regular compliance audits 2 Anti-Commercial Bribery and 15 Product Safety and Quality

Collaborative development across the two dimensions of “Impact Materiality” and “FinancialPartners Industry collaboration and exchange Anti-Corruption 16 Sustainable Supply Chainupstream and downstream Materiality” and creates a Matrix of Material Topics. 3 Anti-Unfair Competition 17 Protection of Employees’

4 Due Diligence Legitimate Rights and Interests

17715

Employees' Representative Congress 1 5 Stakeholder Communication 18 Employee Training and

Training and development 11 8 Development

Labor Union 14 Environmental Issues

Protection of basic rights and interests 12 2 10 16 19 Occupational Health and

Employee satisfaction survey 18 21 6 6 Climate Change Response Safety

Health and safety 20

Employees Internal and external training 3 7 Environmental Compliance 20 Customer Rights Protection

Humanistic care 5

Employee activities Management9 21 Data Security and Privacy

2319

22 4 8 Energy Utilization Protection

9 Circular Economy 22 Social Contribution

Public welfare and charity 13 10 Water Resource Utilization 23 Rural RevitalizationPublic welfare activities

Community public welfare 25 11 Pollutant Emissions 24 Technology Ethics

Volunteer service 24 12 Waste Management 25Promoting regional development Equal Treatment of SMEsCommunity

13 Ecosystem and Biodiversity

Materiality of impact on the Company's financial performance Protection

Materiality of the Company's impact on the economy

society and environment01

Advancing Steadily and

Securely Fortifying the

Foundation of

Compliant Governance

· Standardized Governance System

· Strengthening the Compliance Defense Line

· Adherence to Business Ethics

· Safeguarding Shareholders’ Rights and Interests

Contribution to the United Nations Sustainable Development

Goals (SDGs)23 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 24

Standardized Governance System General Meeting of Shareholders

As the Company’s highest authority the General Meeting of Shareholders

Manst has established a corporate governance system with clear authority responsibility division of labor and holds the ultimate decision-making power on major matters such as Key Performance

standardized operations. The governance structure centered on the General Meeting of Shareholders the Board of operations investments and profit distribution. In accordance with laws and

Directors and the Management performs its respective duties. All governance bodies strictly operate in accordance with regulations including the Company Law of the People’s Republic of China Cumulative Number Number of

and the Securities Law of the People’s Republic of China as well as the of General Meetings Proposals laws regulations the Company’s Articles of Association and specific rules of procedure ensuring scientific decision-

Company’s Articles of Association the Company has formulated the Rules of Shareholders Deliberated

making efficient execution and effective oversight thereby solidifying the governance foundation for the Company’s Organizedof Procedure for General Meetings of Shareholders comprehensively

stable development. regulating the processes for convening holding and voting at General

Meetings of Shareholders. This safeguards the legality of the procedures 3 15

and resolutions ensuring the fair equitable and effective operation of the

General Meeting of Shareholders.General Meeting of Shareholders Strategy and Sustainable Development Committee

Board of Directors

Nomination Committee

Board of Directors As the core of the Company’s operational decision-making

Remuneration and Appraisal Committee the Board of Directors currently consists of 9 directors

Key Performance

Office of the Board of Directors including 4 female directors 3 independent directors and 1

employee representative director. The Board has established Number of Board Number of Topics Board Member

General Manager Audit Committee four specialized committees: the Audit Committee the Meetings Held Deliberated by Attendance the Board Rate

Strategy and Sustainable Development Committee the

Nomination Committee and the Remuneration and Appraisal

Committee. Each committee has a professional division of

labor and performs its own duties providing professional 6 35 100%

support for the Board’s decision-making.The Company firmly believes that board diversity is crucial for enhancing corporate governance and achieving the strategic

objectives of sustainable development. It builds a professional diverse and inclusive decision-making team through

a diversified membership structure. Meanwhile the Company has formulated the Remuneration Management System

for Directors and Senior Management under which the Remuneration and Appraisal Committee is responsible for the

specific formulation of remuneration policies and plans the organization implementation and supervision of performance

assessments. It designs a differentiated remuneration structure and establishes a scientific standardized remuneration

management system that combines incentives and constraints to promote the Company’s sustainable development.Board Effectiveness Evaluation

To ensure the effectiveness of board governance and strengthen its core role in corporate governance the Company

regularly evaluates the performance of board members to ensure they fulfill their functions efficiently. The board is

required to report regularly to the General Meeting of Shareholders. For independent directors the Company has

established a specialized management mechanism continuously builds channels for independent directors to perform

their duties requires them to submit annual work reports conducts an annual assessment of the independence of

incumbent independent directors and issues a special opinion disclosed together with the Company’s annual report.Management

As the executive body of the Company’s operations the management is appointed by and accountable to the Board of

Directors. It strictly implements all resolutions of the Board coordinates and advances the Company’s daily operational

management work efficiently implements various operational measures and drives the Company’s operational

Organizational Structure Chart development and the realization of strategic objectives.Audit and Supervision Department

General Manager’s Office

Administration Department

Legal and Compliance Department

Human Resources Department

Finance Department

Quality Operations and Process IT Department

Strategic Planning Department

Procurement Management Department

Asset Operations Department

Manufacturing and Supply Management Department

Product and Solutions Department

Market and Sales Service Department25 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 26

Strengthening the Compliance Defense Line Risk Management

The Company regards compliance management as the core guarantee for its steady development. It establishes and The Company has formulated the Risk and Opportunity Management Procedure established a risk assessment team led

improves an institutionalized systematic and refined compliance control system to achieve full-process identification by the management representative of the risk management team and organized a risk assessment group. A full-process

control rectification and closure of compliance risks. It comprehensively strengthens the defense line for compliant risk management system has been built covering organizational setup risk identification scientific evaluation and tiered

operations ensuring that the Company’s business activities are conducted in a standardized and orderly manner. response clarifying operational standards and implementation requirements for risk control.All departments comprehensively and systematically identify internal and external uncertainties faced during operations

Internal Control while simultaneously exploring potential opportunities in business development. This ensures thorough risk identification with full coverage leaving no potential risk points in any aspect of operation and management. The risk assessment

group conducts dual-dimensional quantitative evaluations of risks identified by each department serving as the core

basis for classifying risk levels and formulating targeted control measures thereby ensuring the scientific objective and

With the Internal Audit System and Internal Audit Manual as the core institutional support the Company has established precise nature of risk assessment.a two-tier audit management structure comprising the Audit Committee and the Internal Audit Department. It routinely

carries out various types of audit work while simultaneously promoting specialized audit training and building compliance Based on risk levels the Company has developed differentiated response measures clarifying applicable scenarios and

capabilities for all employees. This ensures that audit supervision comprehensively covers all aspects of business implementation requirements for each type of measure. For high risks immediate avoidance or mitigation measures are

management effectively leveraging the supervisory early warning and normative roles of auditing. taken; for general risks risk reduction measures must be implemented; for low risks control is applied as needed. This

ensures that limited management resources are focused on core risks enhancing risk management efficiency.In accordance with institutional requirements the Internal Audit Department coordinates and advances regular and

special audit work strictly implements the quarterly audit work reporting system establishes special ledgers for issues

identified during audits clarifies the responsible entities for rectification rectification timelines and requirements and Case Study: Joint Training on Sales Contract Risk Prevention

assigns dedicated personnel to follow up on the progress and effectiveness of rectification throughout the process. This

ensures that every audit finding is addressed and feedback is provided forming a complete closed loop for the audit In December 2025 the Company organized the “Joint Training on Sales Contract Risk Prevention”. Focusing on

work. In 2025 the Company completed 7 special audits and 3 regular audits. Through the execution of various types the core risk points in the stages of sales contract signing performance and settlement systematic and targeted

of audit work potential issues and weak links in business management were identified in a timely manner thereby risk prevention training and practical guidance were conducted. After the training the participants’ accuracy rate

preemptively mitigating operational risks. in identifying core risk points increased by 30% effectively enhancing the risk prevention awareness and practical

capabilities of personnel in key positions. This helped avoid contract risks from the business front end and reduce

To strengthen the awareness of audit compliance among all employees and enhance their practical capabilities related operational losses caused by improper contract management.to audits the Company organized diversified specialized audit training sessions and thematic seminars focusing on

core content such as audit compliance and process standardization. These activities covered all employees and key

business areas such as reimbursement inventory and material management effectively improving overall recognition

and emphasis on audit compliance work. They standardized operational procedures for personnel in key business Tax Management

segments reduced the risk of non-compliant operations at the source and solidified the foundation of the Company’s

audit compliance management.The Company has established the Tax Management System designating the Finance

Key Performance

Department as the unified centralized management department for tax-related matters. It is

Key Performance responsible for the planning execution control and optimization of all tax-related activities

relying on the Company’s overall management system to comprehensively systematically In 2025 the

Company paid taxes

and continuously collect internal and external information related to taxation. Through

Number of Audit Training Sessions Duration of Audit Training Attendances at Audit Training in accordance with

the three steps of risk identification risk analysis and risk evaluation potential tax risk the law amounting to

4 4 200 points in all aspects of the Company’s operational activities and business processes are Hours accurately identified. Targeted tax risk response strategies are formulated to achieve full- RMB68.4305million

process multi-dimensional coverage of tax risks ensuring the Company’s tax compliance.27 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 28

Adherence to Business Ethics The Company has established a strict and standardized supervision and reporting mechanism providing reporting channels such as anonymous email letters telephone and in-person statements. It has formulated a strict reporting

confidentiality system implementing rigorous confidentiality for the reporter’s personal information (including name unit

The Company regards the development of business ethics as a crucial cornerstone for compliant operations. With the department home address etc.) and the specific content of the report. All reporting materials are uniformly classified as

Anti-Fraud system Supervision and Whistleblowing System and Conflict of Interest and Disclosure Policy as the core confidential documents for management effectively safeguarding the legitimate rights and interests of reporters.institutional framework a business ethics and anti-fraud management system is clearly defined comprising management

the Audit Committee the Audit and Supervision Department and various business units. This system comprehensively

regulates business conduct and professional ethics fostering a corporate culture of integrity self-discipline diligence Complaint Hotline 18123929137

and dedication.The Company continuously strengthens all employees’ awareness of core compliance points such as commercial WeChat mst_iad

bribery corruption conflicts of interest and anti-monopoly through conducting annual risk self-assessments special

declaration registrations and full-coverage compliance training thereby building a solid compliance defense line both in

thought and action. Email IAD@sz-manst.com

Business Ethics Risk Control Measures

Factory Building 3 Unit C No. 101~201 Third Industrial Zone

Address

Zhukeng Community Longtian Street Pingshan District Shenzhen

In December 2025 all business units of the Company conducted annual risk self-assessments with a key focus Audit and Supervision Department Shenzhen Manst Technology

Acceptance Department

on incorporating risk assessments for commercial bribery and corruption. They engaged in in-depth discussions Co. Ltd.on risk control compliance management and requirements related to anti-commercial bribery and anti-corruption

reaching consensus and clarifying subsequent control priorities.In August 2025 the Company conducted a specialized training and registration for the “Declaration of EmployeeConflicts of Interest” for all group employees. Training covered 1654 current employees and all declaration forms Adhering to the principles of integrity in cooperation and clean business operations the Company extends business

were collected. Employees were explicitly required to avoid improper competitive behaviors such as trading using ethics management to the upstream and downstream of the supply chain. By signing integrity agreements and

insider information engaging in unfair competition by leveraging their positions and infringing on trade secrets. conducting specialized trainings it promotes partners to jointly practice business ethics standards building a clean

business ecosystem for collaborative development between the enterprise and its partners.The Company strictly complies with the Anti-Unfair Competition Law of the People’s Republic of China the Anti-Monopoly

Key Performance of Business Ethics Management

Law of the People’s Republic of China and the anti-monopoly and anti-unfair competition laws and regulations applicable

in the countries and regions where its business operates. It insists on maintaining fair market order protecting customer

Indicator Unit 2025 interests and social public interests through fair transactions and lawful compliant means and opposes prevents and

stops monopolistic practices. During the reporting period no incidents of vicious competition occurred.Number of Participants in Anti- Directors 9

Commercial Bribery and Anti- Management / 5

Corruption Training Employees 1654

Coverage Rate of Anti- Directors 100

Commercial Bribery and Anti- Management % 100

Corruption Training Employees 99

Number of Anti-Monopoly and Fair Competition Training Sessions 1

Coverage Rate of Anti-Monopoly and Fair Competition Training % 9929 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 30

Safeguarding Shareholders’ Rights and Case Study: Hosting Investor Reception ActivitiesInterests On June 17 2025 the Company held a thematic exchange event titled “Solid-State Battery ProcessSharing and On-site Visit”. Its engineers delivered thematic presentations on solid-state battery process

The Company has formulated and implemented a series of specialized systems including the Investor Relations routes complete line solutions and core equipment followed by live Q&A. Investors were also organized

Management System Rules of Procedure for the General Meetings of Shareholders Implementation Rules for Online to visit the dry and wet process laboratories for new lithium-ion battery technologies. Such efforts allowed

Voting at General Meetings of Shareholders Information Disclosure Management System and Management Policy for investors to gain a more intuitive understanding of the Company’s core technologies and business layout

Information Disclosure Suspension and Exemption. These systems strictly standardize the entire process management effectively enhancing their comprehension and recognition of the Company’s technological strategy and future

of General Meetings of Shareholders. A cumulative voting system is implemented in the director election process to fully development value thereby further bridging the gap with investors.protect the voting rights of minority shareholders enabling shareholders to genuinely participate in the Company’s major

decision-making and exercise their legal rights.The Company has established multi-form and comprehensive investor communication

platforms opening efficient communication channels with shareholders. These include

Investor Reception Days on-site research visits earnings conference calls roadshows

investor hotlines Hudongyi (irm.cninfo.com.cn) and official email achieving regular

and zero-distance interaction with shareholders and timely responses to their concerns.Through official media designated by the China Securities Regulatory Commission such

as the CNINFO website the Company discloses all information that may have a significant

impact on the stock price in a true accurate complete timely and fair manner covering

various types of information including periodic reports and interim announcements. This

ensures shareholders can timely and comprehensively grasp the core aspects of the

Company’s operation and development. In May 2025 the Company actively responded

to the call of regulatory authorities by carrying out investor education activities for the

“5.15 National Investor Protection Publicity Day” actively using long-form posters on the

Company’s official WeChat public account to promote and guide investors in protecting

their own rights and interests.Key Performance

In 2025 the Company received investor research visits and disclosed 9 documents of Investor

Relations Activity Records Form hosted over 100 person-times of institutional investors held 3

annual performance exchange meetings responded to 232 investor inquiries on the Hudongyi

(irm.cninfo.com.cn) and answered over 300 investor hotline calls.02

Low-Carbon

Environmental

Protection Practicing

Ecological

Responsibility

· Addressing Climate Change

· Deepening Environmental Governance

· Optimizing Resource Utilization

· Strict Control of Pollution Discharge

Contribution to the United Nations Sustainable Development

Goals (SDGs)33 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 34

Addressing Climate Change Risk/ Risk/ Impacted Opportunity Opportunity Financial Impact Timeframe1 Value Chain Response Measures

Type Description Segment

Governance The government

introduces Significant expenditures Promote energy-saving retrofits at stringent energy

consumption control for upgrading

production bases to reduce energy

Against the backdrop of deepening global climate governance energy conservation and emission reduction have consumption per unit product;

Policy and environmental

environmental Medium Corporate upgrade existing environmental

become imperatives of our time. Manst actively responds to the call for climate action diligently references international protection facilities

Risks governance and production to Long

Operations

Downstream governance facilities to ensure

and domestic low-carbon development standards aligns with industry green transition trends with an open and win-win requirements Term compliant emissions; identify carbon

necessitating processes; facing Value Chain

mindset strives to build a green and environmentally friendly management system across the entire industrial chain upgrades to existing environmental

emission nodes across the entire

processes and penalties for non-

process and formulate energy-saving

consciously practices green development concepts and aims to be a driver of the industry’s green transformation and a

equipment. compliant emissions.and emission reduction plans.contributor to sustainable development.Increase R&D investment research

Manst’s climate change work has been integrated into its ESG governance system for unified management. The new technologies to meet higher Cost of Front-end R&D environmental requirements conduct

Company regularly conducts identification and assessment of climate-related risks and opportunities discloses relevant Technology transitioning to expenditures for Medium to Long Corporate technical exchanges and cooperation

information in its sustainability report and coordinates efforts across departments to implement energy conservation and Risks low-emission new and alternative Operations establish an industry technology technologies. technologies. Term iteration monitoring system optimize

emission reduction tasks actively managing greenhouse gas emissions through scientific means. R&D direction and improve the

precision of R&D investment.Strategy Increased production Changes in costs due to changes Upstream

customer in raw material Value Chain Firmly establish the concept of green

Market behavior prices and emission Medium to Long Corporate development and actively promote the

Manst actively conducts climate risk analysis and response identifying physical and transition climate risks assessing Risk uncertain market requirements; sudden Term Operations Company’s energy conservation and signals rise of raw and unexpected Downstream carbon reduction efforts.their time horizons (short-term medium-term long-term) and impact on the Company. Based on the characteristics of material costs changes in energy Value Chain

various climate risks targeted response measures are taken. costs.Risk/ Risk/ Impacted Introduction of Significant increase

1 support policies in orders boosting Actively apply for national and local Opportunity Opportunity Financial Impact Timeframe Value Chain Response Measures

Policy and for new energy revenue; policy Medium Corporate low-carbon support policies to reduce Type Description Segment

Market development subsidies and to Long Operations operational costs; intensify market

and low-carbon incentives reducing Term promotion of low-carbon products to expand market share.Increased Revenue reduction due Develop and implement detailed preferential policies costs.frequency and to decreased production disaster contingency plans

intensity of capacity; costs to ensure rapid operational Adopt more efficient Reduce operational Short Improve production efficiency

Acute extreme weather increase due to facility Short to Corporate recovery; develop alternative Resource transportation Operations costs; increase

Medium Corporate enhance resource recycling and

Physical events such as repairs operational Medium Downstream suppliers and logistics channels Efficiency

methods; production capacity and Operations vigorously develop a circular

Risks typhoons floods disruptions; raw material Term to reduce supply chain disruption utilize recycling Value Chain boosting revenue.Long economy.torrential rain procurement costs rise risks; sign targeted flexible technologies Term

heatwaves and due to supply chain delivery terms to avoid penalty Short

cold waves. demand disturbances. risks caused by extreme weather. Adopt energy-saving and carbon-

Energy Adopt low-emission Reduce operational Medium and Corporate reduction technologies or use clean

Persistent Substitution energy sources costs. Long Operations energy in the production process to

sea-level rise reduce greenhouse gas emissions.Increased operational Term

Chronic rising average costs; cost escalation Corporate Strengthen flood prevention

Physical temperatures due to facility damage; Medium to Operations and emergency management to extreme changes Long Term Downstream reduce the probability of business Products Develop new

Short

Risks revenue decline due to products or services Increase in operating Medium

Corporate

Operations Continuously conduct R&D and in precipitation reduced sales/output. Value Chain interruption. and through R&D and revenue. and Downstream innovation to develop green and low-and weather Services Long

patterns etc. innovation Term Value Chain

carbon products.

1Definition: Short-term: within 1 year; Medium-term: 1–5 years; Long-term: over 5 years.

Transition Risks Opportunities

Physical Risks35 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 36

Impact Risk and Opportunity Management Deepening Environmental Governance

Manst incorporates climate change risks into its risk assessment and control system systematically identifies and

analyzes climate-related risks and opportunities facing its business and operations proactively formulates response Environmental Compliance Management

policies and measures and seizes value creation opportunities.Climate change risk management process Environmental Management System

The Company engages in in-depth collaboration with third-party professional institutions. Based on Manst strictly complies with laws and regulations such as the Environmental Protection Law of the People’s Republic of

compliance with national laws regulations and policy requirements and by integrating domestic and China and the Law of the People’s Republic of China on Environmental Impact Assessment. Based on ISO 14001:2015

Risk

identification international sustainable development trends with the Company’s own reality it accurately identifies it has formulated and issued the Environmental Management Policy and Statement stipulating that environmental

physical risks transition risks and potential opportunities laying a solid foundation for subsequent

sustainability management work is coordinated by the EHS Management Committee and executed by the Administration

risk assessment and scientific management.Department. It standardizes the Company’s environmental control in key areas such as water air noise solid waste

soil chemicals and energy achieves pollution control throughout the entire process and enhances environmental

The Company conducts a comprehensive assessment of potential climate risks and development management performance.Risk opportunities in conjunction with the Company’s actual business operations. Simultaneously the

assessment Company evaluates the impact cycle of climate change risks and opportunities analyzing their

EHS · Approve the Company’s environmental management policies objectives and performance.potential core financial impacts.Highest (Environment · Supervise the implementation and improvement of environmental management policies.Management Health Safety) · Organize and carry out environmental factor identification compliance reviews internal

Based on climate risk assessment results the Company formulates targeted risk response strategies Authority Management audits and management reviews.and implementation measures to effectively reduce the adverse impacts of climate change risks on Committee · Regularly report on environmental management-related work to the Board of Directors.Risk

response production operations and financial status. Concurrently it conducts continuous monitoring of the risk

situation and regularly evaluates the effectiveness of implemented risk management measures to

ensure the efficacy and appropriateness of climate change risk management efforts. · Promote the implementation of various environmental protection systems and drive the

completion of environmental management targets.· Coordinate and advance the enhancement and implementation of the Company’s

Executive Administration environmental management performance.Metrics and Targets Department Department · Organize and conduct environmental protection training and awareness activities providing

relevant training and resources.The Company continuously improves its climate change management system sets a target for year-on-year reduction · Serve as the contact window for environmental complaints receiving and handling various

environmental-related feedback and complaints.of CO2 emissions per RMB 10000 of output value and formulates a series of energy-saving and consumption-reducing

measures to be implemented in production and operational processes. Environmental Management Policy

Indicator Target Achievement status

CO2 emissions per 10000 yuan of output value Decrease year by year In progress

Indicator Unit 2025

Total greenhouse gas emissions tCO2e 13008.16 Implement energy

Direct emissions (Scope 1) tCO2e 47.45

conservation and

consumption reduction

Indirect emissions (Scope 2) tCO2e 12960.71 Continuously improve efforts Achieve zero pollution37 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 38

As of the end of the reporting period Manst AC NEWENERGY Hunan AC Manst Optoelectronics Anman

Technology Chongman New Materials Huaian Manst Automation and Huaian Manst Fluid have obtained

ISO 14001:2015 Environmental Management System certification. Some certificates are as follows:

Manst Environmental Management System Certification Manst Optoelectronics Environmental Management System Certification Huaian Manst Automation Environmental Management System Certificate Huaian Manst Fluid Environmental Management System Certificate

Hunan AC Environmental Management System Certificate AC NEWENERGY Environmental Management System Certificate Zhongman New Materials Environmental Management System Certificate Anman Technology39 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 40

The Company conducts regular annual testing of wastewater exhaust gas and noise to ensure emissions comply with

Environmental Objectives Achievement Status in 2025

standard requirements. Pollution prevention facilities are managed by the Administration Department which assigns

100% Safe Disposal of Hazardous Waste Compliant dedicated personnel to ensure their normal operation. These facilities are operated strictly according to operating

procedures by operators who have received professional training and possess operational qualifications. Furthermore

100% of domestic sewage meets the discharge standards. Compliant the Administration Department is responsible for regular maintenance and upkeep of environmental protection facilities

100% of factory boundary noise meets the emission standards. Compliant and must take immediate emergency measures when facility malfunctions or other factors may cause environmental

100% of industrial waste gas meets the emission standards. Compliant pollution.

Stakeholder Management

Environmental Risk Management

To influence stakeholders’ environmental behavior help them understand the Company’s environmental policy and

To prevent and control the occurrence of environmental incidents or emergencies ensure timely handling of related matters enhance their environmental awareness and encourage them to consciously protect and improve the

environmental emergencies and reduce environmental impact the Company has formulated the EHS Management environment the Company evaluates stakeholders’ environmental performance. Stakeholders are required to sign an

Manual and Environmental and Safety Operation Control System which stipulate the prevention and handling of Environmental Guarantee Agreement or Environmental Protection Agreement before cooperation commences with

potential environmental incidents and emergencies. It has also compiled the Environmental Aspect Identification and a current signing rate exceeding 90%. They commit that their products do not contain environmental management

Evaluation Form List of Significant Environmental Aspects Environmental Risk Assessment and Response Measures substances prohibited by the Company and must submit annual environmental substance test reports issued by

Table and Environmental Aspect Hazard Identification Risk Assessment and Control Procedure to comprehensively recognized testing institutions to ensure the effective implementation of the environmental management policy.identify environmental risks clarify risk control departments and achieve hierarchical risk control. Meanwhile the

Company has formulated the Environmental Emergency Plan and identifies and evaluates the Company’s environmental Clean Production

aspects through regular internal environmental inspections and third-party agency testing to promptly rectify unfavorable

The Company fully implements cleaner production requirements continuously advances energy conservation and

environmental hazards. During the reporting period the Company did not incur any environmental penalties or violations.consumption reduction resource recycling and clean energy substitution. Through the implementation of green projects

Case Study: Hazardous Chemical Leak Disposal Drill such as photovoltaic applications energy storage optimization and ecological energy support it continuously improves

the low-carbon and clean level of the entire production process contributing to the achievement of the “dual carbon”

In June 2025 the Company organized over fifty employees involved in hazardous chemical management goals and high-quality sustainable development.to conduct an emergency response drill for hazardous chemical leaks. The drill simulated a sudden incident

where an employee accidentally spilled chemicals while handling them leading to bodily contact. Participants Case Study: Anman Technology Distributed Photovoltaic Power Generation

swiftly and properly performed first aid for the injured reported the incident donned protective equipment

established a site cordon and successfully contained and cleaned up the leak using fine sand for diking and In 2025 the Company promoted its wholly-owned subsidiary Anman Technology to implement a distributed

dry cloths for absorption collecting the material into hazardous waste drums. photovoltaic power generation project on factory rooftop areas. The project has a DC-side capacity of 764.64

kWp and an AC-side capacity of 650 kW covering a rooftop area of 3697 square meters. It is connected

to the grid in a self-consumption with surplus feed-in mode consisting of photovoltaic modules mounting

structures inverters and other equipment. The estimated annual power generation capacity is 500000 kWh

which can reduce carbon dioxide emissions by 500 tonnes per year equivalent to planting 25000 trees.Photo of the on-site hazardous chemical leak drill41 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 42

Environmental Protection Training Environmental Monitoring

The Company regularly conducts specialized trainings and awareness The Company consistently fulfills its primary responsibility for environmental monitoring with a strong sense of

campaigns on environmental protection management integrating environmental responsibility safeguarding the ecological environment through precise control and compliant emissions

requirements for energy conservation consumption reduction and and practicing its corporate green development mission. In April 2025 the Company commissioned a professional

pollution prevention into the entire production and operation process institution to conduct comprehensive testing of wastewater exhaust gas and boundary noise at the plant site. The test

to strengthen employees’ sense of environmental responsibility. It also results for all pollutants complied with national and local emission standards achieving stable and compliant emissions

actively responds to environmental themes such as World Cleanup and effectively fulfilling the Company’s environmental responsibilities.Day World Water Day and World Forest Day carrying out public

welfare practices focusing on key areas like water resource protection Special Training on Ecological Environment

air pollution control and biodiversity conservation. Protection Management Key Performance

Case Study: “Pingshan Mother River Guarding Together for Good” Public Welfare Activity In 2025 Manst continued to advance environmental protection and ecological management effortsIn response to the World Earth Day environmental initiative “Cherish the Earth Harmonious Coexistence with a cumulative investment of RMB 29280 in the environmental sector. The Company fullybetween Man and Nature” in April 2025 Manst organized the “Pingshan Mother River Guarding Together promoted the implementation and effectiveness of various environmental initiatives including thefor Good” public welfare activity with Zhukeng Community along the Pingshan River section in Zhukeng

Community. Company employees and their family members participated in the event using uniformly provided development of an environmental management system pollution control upgrades and energy-

tools to conduct river garbage cleanup operations. The cleanup task was successfully completed and saving and consumption-reduction transformations.participants received commemorative plaques.Indicator Unit 2025

Number of Environmental Training Sessions 2

Attendances at Environmental Training / 50

Duration of Environmental Training Hours 1.5

Activity promotional poster43 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 44

Optimizing Resource Utilization Indicator Unit 2025

Total Energy Consumption tce(tonnes of coal equivalent) 3031.13

Direct Energy Consumption tce(tonnes of coal equivalent) 29.12

Energy Utilization Natural Gas m3 21892.00

Indirect Energy Consumption tce(tonnes of coal equivalent) 3002.02

Electricity kWh 24426509.05

Energy management is not only the core engine driving operational decarbonization for enterprises but also a critical

pathway towards sustainable green development. To conserve energy reduce consumption and fully realize the rational

use of energy the Company actively develops its energy management system formulating the Energy Conservation Water Resource Utilization

Management System for managing water electricity paper and other energy resources by all personnel and across

all scenarios. It designates the Administration Department as the entity responsible for coordinating supervising and

Manst strictly adheres to relevant laws and regulations such as the Water Law of the People’s Republic of China

monitoring energy conservation requiring the maintenance of labels at energy consumption points establishing monthly

continuously advancing comprehensive management and control of water resources. The Company’s Administration

consumption ledgers and formulating specific measures for saving electricity office supplies and water.Department has established an energy consumption monitoring system which monthly compiles water usage statistics

Hunan AC actively implements green development concepts compiling the Energy Management Manual to clarify the and outputs ledgers for submission to the Company’s responsible personnel monitoring for abnormal fluctuations.organizational structure and full-process requirements. It also formulates management systems such as the Target Simultaneously spot checks are conducted irregularly to verify the implementation of water-saving measures.and Indicator Management Measures and Plan Risk and Opportunity Response Measures Control Procedure and Severe waste behaviors are subject to warnings fines and other assessments with department heads bearing joint

Risk and Opportunity Evaluation and Response Planning Table translating strategic goals into specific energy-saving responsibility. The Company’s primary water source is municipal supply. During the reporting period the Company

measures building a full-cycle risk control system and creating a dual execution guarantee mechanism. Simultaneously continuously strengthened full-chain water conservation management in water intake and usage achieving water

by compiling and summarizing the Target and Indicator Completion Status Statistics Table it presents energy- resource recycling. In 2025 the Company’s total water consumption was 80030.07 tonnes.saving effectiveness and compliance performance with quantitative data providing empirical support for continuous

improvement. As of the end of the reporting period Hunan AC has obtained ISO 50001:2018 Energy Management

System certification. Water Usage Regulations

The Company strongly promotes water conservation awareness opposes all wasteful water usage behaviors and requires all

To ensure the rational and effective use and conservation control of energy resources such as water electricity employees to proactively fulfill their water-saving responsibilities;

and paper within the Company the Administration Department monitors the energy and resource usage of various Promote the use of water circulation systems in workshops; install sensor-activated water outlets in toilets and washbasins;

departments. When abnormal situations are detected the responsible departments are required to conduct analysis and Timely inspect and maintain water pipelines to avoid leaks spills drips and seepage;

make improvements. When any department or individual discovers damaged water equipment they must immediately contact (report to) the

equipment administrator for repairs to prevent the waste from escalating;

In the event of a temporary water outage faucets must be turned off to prevent unattended water waste caused by subsequent

sudden water supply;

Electricity Usage Regulations Employees should maximize water utilization in domestic water usage (e.g. showering laundry) and eliminate wasteful practices;

Enhance employees’ water conservation awareness through training.Under normal conditions (except on rainy or cloudy days) lighting in each department’s responsibility area must be strictly

managed to ensure lights are turned off when no one is present.Strengthen air conditioning management and control usage. When using air conditioning doors and windows must be closed.Turn off the air conditioning during lunch breaks or when the area is temporarily unoccupied. Report immediately if air conditioning

performance is unsatisfactory and maintenance personnel should enhance inspections and address issues promptly.Workshops should use high-power energy-saving lamps. Install automatic control switches for lighting in public areas. Air

conditioning settings: ≥25°C in summer ≤20°C in winter. Security personnel should check and turn off lights after 20:00.Turn off lighting when natural daylight is sufficient. If lighting is required due to dim weather office areas require approval from the

responsible person while production workshops require approval from the production department manager.In dining areas and temporarily unoccupied zones “lights are turned off when no one is present”. The last person on the night shift

should turn off all lighting (except for passageway lighting).Employee dormitories must turn off lights at 23:00 (except for overtime work). Production workshops strictly prohibit idle operation

of machinery to avoid defective product losses.45 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 46

Circular Economy

Packaging Management

The basic principles of packaging design are material conservation and environmental protection. The Company requires that

the properties of materials selected for packaging (e.g. plywood for wooden crates) comply with RoHS requirements and ensure

formaldehyde content does not exceed specified limits;

Paper Conservation Management Establish a classification and disposal mechanism for waste packaging materials. Clean up the site promptly after operations.Cardboard boxes need to be disassembled flattened and stored by category. Reusable ones should be transferred to the

Except for special purposes such as documents and correspondence all other paper must be used on both sides to reduce

miscellaneous storage area; non-reusable ones should be disposed of according to regulations. Packaging materials such as

paper consumption at the source;

plastic tubes and bags must be checked for no material residue before disposal.Flexibly choose copy paper based on its intended use: copies intended only for drafts or backups should in principle be used on

both sides to avoid unnecessary single-sided waste;

Prioritize the use of email for information transmission reduce the frequency of fax machine usage thereby lowering the

consumption of fax paper;

All waste paper (including old newspapers etc.) is prohibited from being mixed with other garbage and must be discarded into

specially designated paper bins; after being uniformly sorted and stored by cleaners it will be handed over to logistics personnel Indicator Unit 2025

for resource recovery and disposal achieving resource recycling;

Office equipment such as copiers printers and fax machines should as much as possible be operated by designated personnel

following standard procedures to reduce paper waste caused by improper operation; Total Packaging Material Consumption Tonnes 81

All unused paper must be properly stored with moisture-proof and mildew-proof measures to avoid resource loss due to improper

storage. Consumption of Reusable Packaging Materials Tonnes 53

Consumption of Non-renewable Packaging Materials Tonnes 28

Material Management

To effectively promote the Company’s material management achieve optimal utilization of materials and rational allocation

of resources the following systems have been established: Material Ledger and Inventory Management Idle Materials

Management System Safety Stock Management System Warehouse Management System Finished Goods Inbound and

Outbound Management System Warehouse Relocation Management System etc.;

Based on key data such as the master production schedule Bill of Materials (BOM) inventory status and order information

determine when and what materials are needed through calculation and analysis and generate procurement suggestions and

production plans accordingly;

Establish a dynamic adjustment mechanism for safety stock. Based on changes in material usage production process

adjustments and demand feedback promptly increase or decrease inventory or adjust upper and lower limits. Cancel the safety

stock qualification for materials not consumed for three consecutive months. High-value materials should be prioritized for

storage at the supplier’s site;

There are six disposal methods for idle materials: scrapping (a scrapping application should be initiated) reuse (recycling) return

to supplier exchange sale and transfer to idle material warehouse. Among these reuse should be categorized as transfer to an

order transfer to a project transfer to R&D testing etc.;

Through rework and reuse of finished goods full-process control of circulation closed-loop handling of returns and standardized

storage and maintenance finished goods with quality issues are reworked and reused. Inbound and outbound processes involve

strict verification and checking standardized loading and unloading. Returned products after inspection and collaborative

processing are qualified and re-enter circulation. The finished goods warehouse should maintain constant temperature and

humidity control with daily maintenance;

Reasonably arrange warehouse layout based on the “First-In First-Out” principle strictly control inbound processes to reduce

losses and ineffective inventory while standardizing procedures for material borrowing outsourcing processing and supplier

returns;

During old warehouse cleanup inspect and maintain facilities and equipment such as shelves and pallets. If there are reusable

facilities and equipment proper records and storage should be maintained for future use.47 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 48

Strict Control of Pollution Discharge Case Study: Centralized Liquid Supply and Recovery Treatment Technology Transformation Project

In 2025 to address issues such as high maintenance costs for individual liquid supply equipment in the CNC

workshop significant waste liquid discharge and unstable processing quality the Company implemented

Pollutant Emissions a transformation to a centralized liquid supply and return treatment system. Through measures including

centralized chip removal high-precision filtration automatic proportioning constant-temperature liquid supply

and metal chip briquetting for recovery the upgrade from decentralized management to centralized recycling

of cutting fluid was completed. This effectively reduced costs improved efficiency and achieved green

Manst strictly complies with the Law of the People’s Republic of China on the Prevention and Control of Water Pollution emission reduction. The approach will be comprehensively promoted and energy-saving transformations will

the Law of the People’s Republic of China on the Prevention and Control of Atmospheric Pollution and other relevant be deepened subsequently.laws and regulations. The Company has established internal management systems for wastewater exhaust gas and

other emissions generated during production and operation. It regularly commissions third-party professional agencies to

conduct testing of wastewater and exhaust gas to ensure the proper functioning of environmental protection facilities and

the compliant discharge and treatment of pollutants. During the reporting period neither the Company nor its subsidiaries

were classified as key pollutant discharge units by the environmental protection authorities and no penalties or violations

related to pollutant emissions occurred.Waste Gas Disposal Methods

The waste gas enters the activated carbon filtration device through exhaust pipes is

treated to meet standards and then discharged. The Administration Department entrusts

Point institutions with environmental protection testing qualifications to regularly monitor the

source

emissions waste gas emissions in areas where waste gas is generated. The department also declares

the emissions on the system as required by relevant environmental protection authorities

and uploads the test results.Indicator Unit 2025

Effective measures are taken to control unorganized emissions from the source of Exhaust Air Pollutant Emissions KG 422.24

Fugitive

workshop equipment ensuring that the waste gas concentration inside and outside the

emissions - Particulate Matter KG 353.60

workshop meets the Fugitive emission limits before being discharged up to standard.- Volatile Organic Compounds KG 68.64

Exhaust Gas Pollutant Emission Concentration mg/m3 19.99

Wastewater Treatment Methods

- Particulate Matter mg/m3 16.80

- Volatile Organic Compounds mg/m3 3.19

Connected to the municipal sewage network and directed to the corresponding sewage

Domestic

treatment plant it is discharged up to standard after meeting the relevant limit requirements

sewage

of the Discharge Limits for Water Pollutants. Waste Management

Apart from the grinding fluid generated during grinding and CNC machining processes To standardize the management of the Company’s solid waste reduce the generation of solid waste and minimize

the Company does not produce industrial wastewater in other production stages. Through environmental pollution the Company in accordance with the Law of the People’s Republic of China on Prevention

Production a technical renovation project for centralized fluid supply treatment implemented over two and Control of Environmental Pollution by Solid Wastes Technical Guidelines for Solid Waste Treatment and Disposal

wastewater consecutive years the Company recycles and reuses the grinding fluid after treatment. The Engineering and other relevant laws regulations and standards has formulated the Waste Management System

involved waste residues are uniformly collected and handed over to qualified third-party and the Hazardous Waste and Waste Management System. These specified the classification and disposal of waste

environmental protection companies for recycling and disposal. generated from office production transportation storage and other operational activities as well as the division of

responsibilities among departments involved in waste management.49 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 50

Waste Management Departments and Responsibilities Hazardous Waste Management Organizational Structure

Comprehensively oversees the Company’s hazardous waste management work bears the ultimate leadership

Primary Responsible Person

responsibility for hazardous waste management and coordinates decision-making on major issues.Primarily organizes coordinates and advances the daily work of hazardous waste management and implements full-

Directly Responsible Person

Production-related Audit and Supervision process management responsibility for key categories of hazardous waste.Responsible for the classified Departments Department

collection storage and daily Hazardous Waste Warehouse Responsible for the daily operation of the hazardous waste warehouse standardized facility operation and implements

cleaning of domestic waste Responsible for the classified Responsible Person on-site management tasks such as temporary storage inbound and outbound handling of hazardous waste.generated from dai ly off ice c o l l e c t i o n s t o r a g e a n d

operations; responsible for the transportation to designated Part ic ipate in the scrap Audit the scrap disposal Safety and Emergency Leads hazardous waste emergency response work formulates emergency plans organizes emergency drills and

final outsourcing of all waste for locations of waste generated disposal process for waste and sales processes for Response Responsible Person handles sudden environmental incidents involving hazardous waste.recycling and disposal including during workshop processes materials and supervise the waste materials and have

qualification review of waste such as t r immings s tee l accounting of revenue from the right to conduct on-site

waste sales. supervision at any time. By implementing green transformation of production processes the Company gradually phases out or substitutes toxic and hazardous recycling and disposal units and scraps iron slag aluminum foil

signing processing agreements and waste packaging materials; raw materials reducing the types and quantities of hazardous waste generated at the source. It optimizes equipment and operational

with them. participate in the scrap disposal procedures to minimize the generation of hazardous waste such as residues and waste liquids. Additionally the Company promotes

Administration process for waste materials. micro-scale management of laboratory chemicals reducing the production of experimental waste liquids and reagents effectively

Department Finance Department achieving continuous reduction in pollutant emissions.All hazardous waste generated by the Company must be packaged according to hazardous waste codes and stored uniformly in

Non-hazardous Waste dedicated storage areas that comply with national anti-leakage standards. When transferring to third-party agencies with professional

environmental qualifications the Company strictly follows the closed-loop process of “declaration–approval–transfer–treatment” and the

The Company continuously implements cleaner production audits optimizes product design and production processes to reduce the national hazardous waste transfer manifest system. In 2025 the Company’s compliant disposal rate for hazardous waste reached reach

generation of scrap materials and defective products at the source. It promotes paperless and digital office operations in daily activities 100%.and encourages the use of reusable office supplies while reducing the procurement of disposable items. For general solid waste such

as metal chips plastics and packaging materials generated during production the Company conducts detailed classification to lay the Waste Categories Waste Items Disposal Method

foundation for subsequent resource utilization. Through multiple measures it drives the annual reduction in the generation intensity of Waste activated carbon waste cutting fluid empty paint

general industrial solid waste in production areas and continuously decreases pollutant emissions. Hazardous Waste buckets chemical-contaminated waste (rags gloves glass) Processed by qualified disposal units.The Company fully implements a management model of “source classification comprehensive resource utilization and compliantdisposal” for non-hazardous waste (including domestic waste and general industrial solid waste). Domestic waste is strictly classified

Indicator Unit 2025

in detail and regularly collected at high frequency by professional disposal companies to ensure a clean factory environment. General

production and office solid waste are collected centrally in strict accordance with national pollution control standards prohibited from

being mixed with hazardous waste and prioritized for resource utilization or unified legal disposal by qualified recycling agencies Total Amount of Non-Hazardous Waste Generated Tonnes 47.07

thereby achieving reduction and harmless closed-loop management of daily waste. In 2025 the Company’s comprehensive utilization Total Amount of Hazardous Waste Generated Tonnes 14.64

rate of non-hazardous waste was no less than 90%.For metal scrap the Company uses metal briquetting machines to directly cold-press various metal waste into blocks facilitating

storage transportation and recycling. This significantly improves factory cleanliness and resource reuse rates reducing issues such as Noise Management

environmental pollution transportation inconvenience and resource waste caused by metal chips.Company noise originates from the operation of equipment and the use of tools in various workshops.Waste Categories Waste Items Disposal Method

Domestic Waste Fruit peels used paper towels meal boxes. Regularly handed over to municipal waste removal companies for transportation. Noise Control Methods

General Industrial Solid Waste Scrap iron waste film waste paper Recycled and processed by qualified Implement sound insulation and vibration reduction measures for high-noise equipment or processes; establish noise barriers or packaging bags plastic film etc. recyclers. adjust operating hours when necessary to reduce impact on employees and the surrounding environment;

Provide personal protective equipment such as earplugs for high-noise positions; the Administration Department regularly

Hazardous Waste organizes hearing health checks for employees in noise-exposed positions to verify the effectiveness of protective measures;

Regularly monitor noise levels at the factory boundary and within working areas. Emissions comply with the Class III area

The Company implements specialized control for hazardous waste formulates the Hazardous Waste Management System and standards of GB 12348-2008 Emission Standard for Industrial Enterprises Noise at Boundary with daytime levels ≤65 dB and

establishes a full-chain responsibility management system covering the entire lifecycle. It systematically specifies management nighttime levels ≤55 dB.requirements for key stages such as collection storage transfer and disposal of hazardous waste.03

Empowering Value

Co-creation through

Innovation and Quality

· Innovation-Driven Development

· Enhancing Product Quality

· Sustainable Supply Chain

· Protection of Customers’ Rights and Interests

· Safeguarding Information Security

Contribution to the United Nations Sustainable Development

Goals (SDGs)53 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 54

Innovation-Driven Development Strategy

Governance

Risk/ Impacted

Manst adheres to innovation-driven development establishing a deep R&D model where "processes lead equipment".The Company Financial Opportunity Risk/Opportunity Description Timeframe2 Value Chain Response Measures

Impact

has establishedcoating engineering centers and professional laboratories across multiple application fields forming an integrated Type Segment

independent R&D system that covers demand identification process design and performance verification. The Company actively

establishes industry-university-research cooperation with domestic and foreign scientific research institutes continuously introduces

The Company’s products are non-standard

professional scientific research talents and industry chain elites forming a mature and reliable mechanism for integrated independent Enhance the Company’s R&D equipment that is highly customized and

R&D from demand ideas structural design product prototyping to product performance verification. Meanwhile it incorporates capabilities including increasing various parameters of the product solutions

R&D investment introducing

automation and intelligent technologies and has developed the capability to collaborate with customers in solving core challenges such need to meet customers’ dynamic demands. and cultivating high-quality

as high-quality high-efficiency and low-cost production of end products across multiple application scenarios. Due to the rapid iteration of downstream R&D talent and establishing an

customers’ products and manufacturing

Medium efficient R&D system. Actively

The Company has established a scientific and effective R&D organizational structure and formulated R&D management documents such Technological process technologies if the Company Corporate Cost Increase to Long seek cooperation with domestic

as the Project Management Manual Charter Development Process Description Demand Management Process Risk Tracking Sheet Risk misjudges future market demand or fails OperationsTerm and foreign scientific research

in product R&D it will lead to difficulties

R&D Material Management System R&D Confidentiality Management System and Organization Implementation and Incentive Reward institutions universities and in recovering R&D investment reduced

System for the Transformation of Scientific and Technological Achievements. These documents standardize operational processes such peers to reduce the difficulty and corporate profitability inability to expand or

risk of technology development

as R&D project initiation and reporting strengthen the management of the entire R&D process promote the transformation and effective even a squeeze in market share which will through technology introduction

have a significant adverse impact on the

utilization of R&D achievements and continuously enhance the Company’s independent innovation capability. and joint R&D.Company’s sustainable profitability.The Company has obtained National High-Tech Enterprise certification has been selected as a national-level Specialized and

Sophisticated “Little Giant” enterprise and a National Intellectual Property Advantage Enterprise. The Company has set up scientific The Company operates in the technology- Optimize the compensation and

research platforms such as the Guangdong Province New Energy Intelligent High-Precision Coating Equipment Engineering Technology intensive industry of intelligent manufacturing benefits system to ensure the

Research Center and the Shenzhen Postdoctoral Innovation Practice Base. It has also been honored with awards including the for new energy high-end equipment. A stable remuneration of core technical

R&D team is the foundation for the Company personnel is market-competitive.Guangdong Province Manufacturing Single Champion Demonstration Enterprise and Guangdong Province Famous and High-Quality to maintain its core competitiveness and an Conduct talent reviews to identify

High-Tech Products. important guarantee for the Company’s long- and cultivate backup talents for

Increase in Medium

Organizational term technological progress and business Corporate key positions forming a talent

Operating to Long

Risk development. Although the Company has Operations echelon. Establish industry-

Costs Term

taken various measures to stabilize the university-research cooperation

core technical team the possibility of future with universities and research

loss of key personnel cannot be ruled institutions to introduce external

out. If a large number of core technical intellectual resources and

personnel leave in the future it will affect the compensate for internal talent

Company’s sustainable profitability. shortages.The Company consistently

follows an innovation-driven

‘Little Giant’ Specialized and development strategy. Through

High-Tech Enterprise Sophisticated Enterprise that National Intellectual Property

Guangdong Manufacturing

The high-precision coating technology various measures such as

Produces Novel and Unique Advantage Enterprise Single Champion Demonstration Enterprise products produced by the Company can continuously increasing R&D Products Increase in Technological meet the coating process requirements Short Corporate investment attracting scientific

Operating

Breakthrough of current mainstream lithium-ion battery Medium Operations and technological talent

Revenue

and Market manufacturers for lithium-ion battery and Long Upstream and and strengthening external

Strong Market

Leadership electrodes possess the capability to Term Downstream cooperation it actively promotes

Competitiveness

compete with leading foreign brands and the research and development

have achieved import substitution. of forward-looking technology

projects and advances their

industrialization maintaining a

leading position in the industry.Guangdong Provincial Engineering

Technology Research Center for Shenzhen Postdoctoral Shenzhen Industrial Excellence Shenzhen Enterprise Technology Intelligent and High-Precision

Coating Equipment in the New Innovation Practice Base Award Center

Energy Sector 2Definition: Short-term: within 1 year; Medium-term: 1–5 years; Long-term: over 5 years.Risk Opportunity55 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 56

Impact Risk and Opportunity Management Industry-Research Collaborative Innovation

Leveraging its profound technical expertise in precision slot-die coating

Management process Management measures Manst has established an industry-university-research collaborative

innovation network and built a perovskite pilot platform covering the

The Company thoroughly identifies risks related to R&D innovation based on systems such as the Risk 1200mm×600mm level. The Company emphasizes deep integration

Risk and Opportunity Management Procedure. This covers all stages of R&D project management including with cutting-edge scientific research forces establishes a perovskite

identification demand introduction project initiation design and production assembly and commissioning and project joint laboratory with the Shenzhen Institutes of Advanced Technology

completion and release.Chinese Academy of Sciences and maintains close university-enterprise

A “Risk and Opportunity Assessment Team” is formed responsible for risk-related tasks. The team cooperation with institutions like Shenzhen University of Technology. Focused on continuous breakthroughs in areas

Risk analysis quantitatively evaluates the degree of risk impact from multiple perspectives applying a strict principle for such as rigid/flexible large-area perovskite coating crystalline silicon/perovskite tandem solar cells and perovskite

risk determination. cell encapsulation technology it provides strong technical support and implementable process validation solutions for

platform operations.Key monitoring points at each stage of R&D projects:

Risk monitoring is conducted throughout the R&D process including demand introduction project Laboratory Capability Building

initiation design and production assembly and commissioning and project completion and release.The R&D Management Department organizes reviews to assess from multiple perspectives whether the As the core hub of Manst’s technological R&D the laboratory continuously breaks through technical barriers through

Risk project meets expectations and monitors the overall project status.monitoring sustained scientific investment and experimental exploration. It serves as a continuous source of technological

Daily monitoring mechanism: innovation enhancing the performance and efficiency of coating technology expanding its application fields and

By regulating the use of standard documents computers printers and communication tools the Company ensuring Manst’s competitiveness and sustainable growth in the global market.monitors document management information security and confidentiality system implementation during

the R&D process promptly identifying and addressing risks of information leakage.During the project initiation phase a risk management plan is developed covering aspects such as Roll-to-Roll Coating Laboratory

scope schedule quality cost resources risk and change control. Initial risks are identified and

corresponding response measures are formulated. Throughout project execution appropriate actions are The roll-to-roll coating laboratory is equipped with

Risk taken based on the risk conditions. For example key technology verifications are carried out when facing experimental devices for mixing coating and roller

management technical bottlenecks; design solutions are optimized through multiple rounds of review; design plans are pressing. It is a leading coating laboratory in the industry

updated based on the results of prototype verification reviews; and small-scale trial production reviews are capable of conducting various coating experiments such

conducted to confirm whether the product meets requirements. Experience is continuously summarized as micro-gravure coating extrusion coating transfer

throughout the project lifecycle to improve management processes.coating and dip coating.Encouraging R&D Innovation

The Company has established the R&D Project Incentive Management Measures and the Intellectual Property Incentive

Program to encourage technological innovation standardize the management of scientific and technological achievement Materials Laboratory

transformation and stimulate the enthusiasm initiative and creativity of personnel at all levels to engage in such The material laboratory is an important professional

transformation. basic laboratory mainly responsible for the process

development of slurry the production and performance

testing of slurry the sintering preparation of positive and

negative electrode main material powders of batteries

and providing strong data support and optimization

solutions for the production coating line.57 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 58

Serial

Number Category Standard Name Status

Planar Coating Laboratory

The planar coating laboratory mainly conducts 8 Group Standard Guidelines for the Evaluation of Advanced Equipment in Recycling Used Lithium-ion Batteries Released

experiments in the fields of new energy advanced 9 Group Standard Technical Specification for Optical Storage and Charging Integrated Power Station Released

board-level packaging and panel-level coating. At

10 Group Standard Power Quality Testing Regulations for Photovoltaic Energy Storage Systems Released

present the key research directions of the laboratory

are: process development testing new material testing 11 Group Standard Technical Specification for Energy Storage Battery Integrated Cooling System Released

equipment development and commissioning and other 12 Group Standard Technical Specification for Performance Testing of Photovoltaic Systems Equipped with Electrochemical Energy Storage Released

series of research and development work. 13 Group Standard Technical Requirements and Test Method of Energy Storage System for Telecommunications Station Released

14 Group Standard Specification of Applied Technology for Large Capacity Cascaded Electric Storage Energy System Pending approval

Technical Guidelines for Energy Storage Planning and Configuration on Distribution Network

15 Group Standard Transformer Area Side Pending approval

Group Standard Technical Guideline for Grid-Forming Electrochemical Energy Storage System Interconnecting with Fluid Simulation Laboratory 16 Distribution Network Pending approval

Safety and Acceptance Specification for Cabinet-Type Lithium-ion Iron Phosphate Battery Energy

17 Group Standard Storage Systems Pending approval

The fluid simulation laboratory is mainly responsible for

18 Group Standard Fire Control Devices for Power Energy Storage Stationsthe metallographic hardness and corrosion resistance Pending approval

of the core component materials; evaluating the 19 Group Standard Technical Specifications for Wires and Cables Used in Power Energy Storage Systems Pending approval

morphology adhesion and thickness of the surface 20 Group Standard Technical Specifications for Connectors for Electric Energy Storage Systems Pending approval

coating; and the analysis of the rheological properties

21 Group Standard Technical Specification for Dry Electrode Equipment for Solid-State Batteries Released

surface tension and density of the slurry.Requirements for Intelligent Recycling Technology and Complete Equipment for Waste Lithium-ion

22 Group Standard Batteries Pending approval

Smart Manufacturing Maturity Management

Participation in the Standard Development Manst has obtained the Manst Intelligent Manufacturing

In promoting industry development the Company not only leads industry trends through technological innovation but also Capability Maturity Level 3 Certification signifying that the

actively participates in the drafting and formulation of various standards. This contributes to the continuous improvement Company’s standardization level in smart manufacturing

and upgrading of relevant technical standards providing strong support for the healthy and orderly development of the processes technology application and management

industry. As of the end of the reporting period the Company had participated in the development of 22 standards 13 of systems has reached an industry-leading tier. Through

which have been officially released including 1 national standard. multi-system integration the Company has built a highly

efficient and collaborative production management system

Serial

Number Category Standard Name Status achieving digital and intelligent management of design and Manst Intelligent Manufacturing Capability

production processes significantly enhancing production Maturity Level 3 Certification

1 National Standard Die Casting Dies - Components - Part 14: Limit Pins Released efficiency product quality and resource utilization.

2 Industry Standard Slot Coating Die Released The Manst Testing Center has successfully passed CNAS laboratory accreditation. Relying on high-end scientific

research platforms such as the nationally CNAS-accredited testing laboratory and provincial engineering technology

3 Industry Standard Method for Measuring the Coating Uniformity of Lithium-ion Battery Electrodes Released

research center the Company has established core advantages in key areas including material processing technology

4 Industry Standard Lithium-ion Battery Slurry Mixer Released application of new ceramic materials multi-layer precision coating technology automatic closed-loop control technology

5 Industry Standard Safety Requirements and Installation Acceptance Specifications for Cabinet-Type Lithium-ion Released dry film-making processes and pan-semiconductor coating processes. This deep R&D accumulation enables the Iron Phosphate Battery Energy Storage Systems

Company to delve into customer scenarios and provide customized solutions—from process route design to specialized

6 Industry Standard General Technical Specifications for Containers Used in Power Energy Storage Systems Pending approval

equipment development—addressing core challenges such as high quality high efficiency and low-cost production truly

7 Group Standard Technology Requirements for Recycling of Cathode Materials from Used Lithium-ion Batteries Released achieving collaborative innovation with customers.59 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 60

Solid-State Battery Electrode Manufacturing Solutions

14-Roll Double-Sided Simultaneous Film Formation Process

To address common industry challenges in solid-state battery manufacturing faced by the traditional wet process such

as sulfide electrolyte decomposition high interfacial impedance and high energy consumption Manst has restructured Uniformity control is another challenge in dry process applications. To ensure

the quality of electrode raw material film formation Manst introduced the 14-roll

production logic from the manufacturing end. Taking the dry process as a core breakthrough point the Company

double-sided simultaneous film formation process to achieve uniform double-sided

has launched a full-process solid-state battery electrode manufacturing solution covering film formation electrode coating. Its accompanying steel belt pre-forming mechanism employs an inclined

preparation and the front-end production line for solid-state batteries. Through self-developed key equipment Manst has wedge compression design providing continuous quantitative and stable feeding

established a complete front-end production line for solid-state batteries primarily based on the dry process. for multi-roll calendering equipment significantly improving the compacted density

of the film and the uniformity of film thickness and density. Tests show this process

can compress film thickness fluctuation to ±3μm far exceeding the precision of 14-Roll Film Calendering Composite Integrated Machine

traditional single-sided film formation making high-consistency electrode mass

production possible.Film formation calendering equipment can be flexibly selected according to the production line stage. Single-sided film

formation composite equipment can be used for small-scale trials and pilot lines while double-sided film formation composite

equipment can be chosen for pilot and mass production lines. This double-sided film formation composite integrated machine

uses a unified design making the composite process more compact and efficient improving production efficiency. Its precise

tension measurement and adjustment mechanism ensure stable tension during the composite process preventing film

deformation or wrinkling. The automatic winding mechanism can accurately wind the composite film into electrode film rolls of

suitable size reducing operational difficulty and human error.Wet Thin-Coating System for Electrolyte

Solid electrolyte needs to be processed by a sand mill before coating

to make the electrolyte powder finer further enhancing the overall

performance of the cell. When thinly coating the solid electrolyte layer on

the electrode Manst employs wet slot-die coating technology and sand

Overall Layout Diagram of Front-End Equipment for Solid-State Batteries mill processing to achieve non-contact thin-layer coating. A double-sidedcoating process of “front-side coating → baking → back-side coating →baking” is adopted effectively avoiding interface miscibility issues and

ensuring the uniformity and stability of the solid electrolyte layer. Wet Thin-Coating System for Electrolyte

The three core self-developed equipment—All-Ceramic Twin-Screw Fibrillation 14-Roll Double-Sided Calendering and Wet

Thin-Coating of Electrolyte—have built a technological moat for this solid-state battery electrode manufacturing solution Manst considers the integration of solid-state battery equipment as an important development direction. By integrating

facilitating the move towards mass production of solid-state batteries. processes such as feeding mixing fibrillation film making calendering slitting and winding material flow time is shortened

improving production efficiency and product consistency. The Company relies on self-developed key core equipment to build

All-Ceramic Twin-Screw Fibrillation Technology a technological closed loop providing the industry with front-end production line solutions primarily based on dry process

validating a feasible and scalable mass production technical path. In the future Manst will continue to promote collaborative

Manst’s innovation in core equipment for the dry process begins with the innovation in dry process and equipment integration break through the cost and technical bottlenecks in solid-state battery

fibrillation stage. Its self-developed all-ceramic dry twin-screw fibrillation machine manufacturing and work with upstream and downstream partners in the industry chain to promote the industrialization of high-

uses ceramic barrel liners and screw elements fundamentally preventing the performance high-safety solid-state batteries.introduction of metal contaminants and ensuring cell safety and long cycle life.With excellent wear resistance due to ceramic materials the equipment has

a service life of ≥18000 hours. Its modular building-block design facilitates AC NEWENERGY 9MWh Centralized Energy Storage Product

disassembly and cleaning allowing flexible adaptation to needs from small-

scale trials and pilot lines to mass production. It can precisely apply shear force In April 2025 AC NEWENERGY showcased its 9MWh centralized energy storage product and its full matrix of products

within the 19°C phase transition temperature window of PTFE binder tearing

PTFE crystals into a nanoscale fiber network efficiently achieving raw material Dry Twin-Screw Fibrillation Machine including large-scale storage commercial & industrial storage and residential storage at the 13th Energy Storage

fibrillation and forming a stable uniform electrode skeleton. Its double-end support structure also effectively reduces shaft International Summit and Exhibition (ESIE 2025). Through dedicated forums exhibition displays innovation competitions

deformation with a pilot line throughput reaching 150 L/h. This technological breakthrough not only solves the risk of battery and other activities the Company engaged in in-depth exchanges with professionals from various fields attracting

micro-short circuits caused by metal contamination but also lays the foundation for subsequent uniform film formation. numerous domestic and international professional visitors media and partners from across the industry chain for

consultations and negotiations.61 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 62

Metrics and Targets

9MWh Energy Storage System Unveiled Continuously Accelerating Product Innovation

The 9MWh Xiangtiangao Energy Storage System uses LFP 435Ah large cells Metrics

(pack configuration: 1P408S×16) and supports a 0.5P charge/discharge rate.It is equipped with an intelligent liquid cooling temperature control system Indicator 2023 2024 2025

(operating temperature -20°C to 55°C) and employs perfluorohexone PACK-level

fire suppression and water fire protection. The overall system dimensions are

7300×2650×400mm with a total weight of 75 tonnes of which a single battery R&D Investment (RMB millions) 70.1387 120.0933 172.9403

cabinet weighs 13.5 tonnes. It offers the following advantages: R&D Investment as a Percentage of Operating Revenue 8.82 7.07 16.19

High energy capacity compact footprint high integration level; R&D Team

Modular design for easy transportation and installation;

Separate AC/DC design allowing flexible configuration based on customer Total Number of R&D Team 442 501 480

needs;

Digital management intelligent energy; Change in R&D Personnel 34.03 30.70 28.85

Multi-layer fire protection design ensuring high safety.By Education Level

Below Undergraduat' Degree 158 166 147

Undergraduate 251 285 285

Ancheng Special Session Discusses Composite Energy Storage Solutions Master 32 48 46

During the ESIE 2025 exhibition’s Energy Storage Design and Solutions Doctor 1 2 2

Forum the Deputy General Manager of Sales from AC NEWENERGY’s

Large-Scale Storage Business Unit delivered an insightful presentation titled By Gender

“Multi-Composite Energy Storage Scenario Solutions and Market Models”.The session analyzed the development advantages and challenges of Male 357 430 415

composite energy storage examined domestic and international energy Female 85 71 65

storage policies and market differences and facilitated discussions with

industry peers on future energy storage market trends. Innovation Achievements

Cumulative Number of Authorized Patents 271 412 607

Breakdown by Patent Type

Ancheng Energy Storage Project Wins Innovation Competition Award

Cumulative Number of Authorized Invention Patents 30 49 69

At the “9th International Energy Storage Innovation Competition” held concurrently Cumulative Number of Authorized Utility Model Patents 217 329 490with the exhibition AC NEWENERGY’s project “Zhejiang Ningbo 44MW/40MWh Cumulative Number of Authorized Design Patents 24 34 48Thermal Power Frequency Regulation Energy Storage Project” was awarded “ExcellentProject in the Application Innovation Group - Large-Scale Storage Track” receiving Other Intellectual Property

unanimous recognition from the judging panel’s expert group.Cumulative Number of Software Copyrights 29 82 141

Enterprise Innovation Capability Certification

Specialized and Sophisticated Enterprises 1 2 3

National High-Tech Enterprise 3 7 1163 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 64

Targets

Target Content Achievement Status

Coating technology as a surface treatment process technology with universal

industrial characteristics has extremely broad application scenarios. The Company

will firmly grasp the development trend of energy technology transformation rely

on its advanced engineering application capabilities in coating technology aim to

promote the industrial application of new materials and continuously deepen its

capabilities in micron and nanoscale coating processes and equipment. Steadily Manst & Hunan AC Intellectual Property Compliance Management Awarded the China Patent

System Certificate Excellence Award

In the future the Company will fully seize the development opportunities presented progressing

by new technologies and new businesses strive to build an industrial layout with

multiple parallel tracks in “new energy + pan-semiconductor” resolutely implement To strengthen all employees’ awareness of intellectual property protection and standardize intellectual property

the strategic positioning of a platform-based technology enterprise and vigorously management processes the Company launched the online platform “ManE Classroom” in June 2025 simultaneously

promote the localization process of China’s core equipment for coating technology rolling out a series of intellectual property courses. The courses cover core topics such as intellectual property

applications in more “bottleneck” areas. fundamentals patent searches patent application and protection and patent risk elimination successfully transitioning

offline training online to enhance training convenience and coverage. Furthermore the Company has established a

comprehensive training system and a training credit management system incorporating intellectual property training

into the regular training system for all employees. It clearly defines relevant training requirements and assessment

standards creating implementable and traceable intellectual property protection training cases effectively promoting the

Intellectual Property Protection standardization of intellectual property management and fortifying the Company’s intellectual property security defenses.The Company adheres to the principle of innovation-driven development and strategic guidance deeply integrating its Technology Ethics

intellectual property strategy with overall business objectives. In terms of intellectual property protection the Company

actively builds a comprehensive efficient and distinctive system issuing and implementing management regulations

such as the Detailed Rules for Intellectual Property Risk Monitoring Detailed Rules for Intellectual Property Application In its daily operational activities the Company is not involved in any content directly related to technology ethics across

and Detailed Rules for Intellectual Property Incentives covering all stages from R&D to sales. Simultaneously the all stages from product R&D design manufacturing to market sales and after-sales services. The Company adheres to

Company has established an Intellectual Property Group responsible for identifying and assessing intellectual property existing laws regulations and industry standards and there are no potential risks arising from technology ethics issues.risks during R&D formulating intellectual property incentive policies and reward/penalty schemes and managing patent

application rewards.The Company’s intellectual property protection system implements a full-process management mechanism. During

the product R&D phase the Intellectual Property Group and the Legal Department are involved throughout to ensure

timely and orderly intellectual property applications embedding intellectual property protection into the entire R&D

process. During production and operation the Company has established an intellectual property infringement early

warning mechanism and a risk monitoring mechanism that spans the entire process. It regularly conducts assessments

of intellectual property legal risks establishes rights protection mechanisms promptly applies for patents software

copyrights etc. for innovative achievements from R&D projects and maintains annual fees for intellectual property.Manst and Hunan AC have passed the GB/T 29490 Intellectual Property Compliance Management System certification.65 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 66

Enhancing Product Quality Strategy

Governance Risk/ Impacted Financial

Opportunity Risk/Opportunity Description Timeframe3 Value Chain Response Measures

Impact

Type Segment

Manst adheres to the quality policy of “Making Quality the Reputation” regards quality as the lifeline of the enterprise continuously

improves the quality management system promotes technological innovation process optimization and product quality enhancement to The Company’s products are highly Increase R&D investment

meet and exceed customer expectations. During the reporting period no major quality incidents occurred in the Company. customized and must be tailored to meet actively explore the application of Short Corporate

specific customer requirements. If current new technologies and processes

Medium Operations

The Company strictly complies with the Law of the People’s Republic of China on Product Quality and other relevant laws and regulations. Technical Risk technologies cannot satisfy these demands Cost increase and concentrate resources to and Long Upstream and

additional resources may be required for overcome technical challenges to

It has formulated and implemented a series of quality management systems including the Process Defect Management System Term Downstreamprocurement design or production to fulfill ensure product quality meets or

Quality Abnormality Handling Management System Nonconforming Product Control Procedure Major Incoming Material Quality Issue customer expectations. exceeds customer expectations.Management System and Product Monitoring and Measurement Control Procedure. These systems cover every key stage from material

intake production and quality inspection to finished product delivery enabling comprehensive and full-process control over product As an internationally advanced enterprise

quality. in coating technology applications the Enhanced

Company has leveraged years of R&D Short Corporate Continuously improve product

Opportunities product

Manst has established a Quality Management Department that in accordance with national laws regulations and industry standards experience and numerous successful industry Medium Operations quality meet customer needs in Market competitiveness

applications to achieve import substitution and Long Upstream and and maintain a leading position

enforces strict quality control procedures and inspection standards to ensure products meet or exceed customer expectations. During Leadership and increased for its core products in the lithium-ion battery Term Downstream in the industry.the reporting period the Quality Management Department conducted project-based quality risk assessments on production materials revenuesector while also maintaining a strong

and finished products promptly identifying risks and implementing corrective actions. The Company has achieved a steady increase in domestic and international customer base.product pass rates and a continuous decrease in customer complaint rates for several consecutive years. Additionally a qualified supplier

list has been established with strengthened training and quality management for suppliers to further improve the acceptance rate of

incoming materials. Impact Risk and Opportunity Management

The Company continuously improves its quality management system. As of the end of the reporting period Manst Manst Optoelectronics

Anman Technology Chongman New Materials Suman Hydrogen Energy Aoreike Huaiman Automation Huaiman Fluid AC

The Company follows the Risk and Opportunity Management Procedure along with other systems such as the

NEWENERGY and Hunan AC have all passed ISO 9001 Quality Management System certification. Some certificates are as follows:

Quality Abnormality Handling Management System Nonconforming Product Control Procedure and Product

Risk Monitoring and Measurement Control Procedure to comprehensively identify risks and opportunities in all stages

Identification of product manufacturing. During process implementation potential quality issues or abnormalities—such as

technical operational environmental material equipment and quality anomalies—are identified through in-process

inspections finished product inspections and pre-shipment inspections. Nonconforming products are also classified

to identify different levels of risk.When anomalies or nonconforming products are identified the Quality Management Department coordinates with

Risk

Analysis relevant departments to conduct root cause analysis. A comprehensive assessment is carried out to determine the

nature scope and potential impact of the issue helping to evaluate the severity and urgency of the associated risk.By conducting inspections on incoming materials in-process products finished products and pre-shipment items

Risk the Company monitors and measures the quality characteristics of its products to promptly identify potential quality

Monitoring issues and risks. In addition the Quality Management Department performs statistical analysis on inspection data to

uncover latent quality risks.For minor nonconforming products the responsible department conducts internal reviews and handles the issue

independently. For general nonconforming products the responsible department conducts an internal review and

then submits the issue to the Quality Management Department for confirmation and processing. In cases of major

Risk

Management nonconformities the evaluation conclusion is drawn based on inputs from all relevant departments and the issue is

addressed accordingly. The Quality Management Department also issues a Corrective and Preventive Action Report

Manst Quality Management Manst Optoelectronics Quality AC NEWENERGY Quality Hunan AC Quality based on the risk assessment requiring the responsible department to implement improvements and follow up on

System Certificate Management System Certificate Management System Management System their effectiveness aiming to continuously reduce risk levels and enhance product quality.Certificate Certificate

3Definition: Short-term: within 1 year; Medium-term: 1–5 years; Long-term: over 5 years.

Risk Opportunities67 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 68

Product Safety and Quality Management Precision Manufacturing

Whole-life-cycle Management of Products

Manst regards precision manufacturing as the foundation of enterprise development and integrates lean production

The Company has established a product monitoring and measurement control procedure. By monitoring and measuring

products at various stages—such as raw materials semi-finished products finished products and outgoing shipments— and digital management into the entire manufacturing process. The Company’s production base covers over 80000

the Company ensures that products at each stage meet quality environmental and customer requirements. square meters establishing a precision coating intelligent manufacturing industrial park that includes precision gasket

production curved and planar precision machining quality inspection sheet metal and ceramic processing. Through the

After the raw materials arrive warehouse personnel conduct a preliminary inspection and label the product or implementation of MES systems and automated production lines the Company has achieved transparency and efficiency

its inspection status. The Quality Management Department is then notified to carry out incoming inspections.Incoming in the production process.Inspection The department conducts inspections in accordance with relevant regulations and determines the results based

on the AQL value of the materials. Warehouse personnel will proceed with warehousing or return operations On the production floor industry-leading precision machining equipment combined with mature processes drives

according to the inspection results provided by the Quality Management Department. manufacturing capabilities to continuously push limits. The Company possesses the capability for integrated machining

of ultra-long dies up to 4000mm enabling precision forming and high-quality surface treatment of complex structural

During product realization the Quality Management Department and the Production Department monitor and

In-Process components. Core indicators have reached industry-leading levels: die large flatness ≤3μm lip straightness ≤3μm

Inspection measure product characteristics in accordance with the product process card relevant technical documents

and quality management documentation to verify that product requirements are being met. cavity roughness Ra≤0.025μm. The Company provides quantifiable precision manufacturing capabilities offering solid

assurance for the long-term reliability and performance consistency of customer products.Finished The Quality Management Department conducts final product inspections (or submits products for inspection)

Product and determines product release in accordance with the Finished Product Inspection Work Instruction while

Inspection maintaining relevant records.Metrics and Targets

Once all specified verification activities are completed and the product meets quality standards shipments are

Outgoing arranged according to customer requirements. The Quality Management Department carries out pre-shipment

Inspection inspections in accordance with the Product Packaging Work Instruction and includes the inspection report with Metrics

the shipment.Additionally the Company has formulated management systems such as the Installation and Debugging Management Quality Indicators Unit Achievement Status

Regulations Product Operation Management Regulations Product Delivery and Acceptance Management Regulations

and Delivery Anomaly Management Regulations to standardize the product delivery and acceptance process regulate Product Pass Rate 100% % Completed

product installation and debugging operations ensure the proper functioning of company products and the necessary

support during operation enhance user satisfaction and ensure smooth product acceptance.Production Equipment Management Indicator Unit 2025

The Company has established the Equipment and Facility Management Control Procedure to manage the allocation

Number of Product Quality Management Training Sessions Times 23

maintenance and upkeep of equipment and facilities. This ensures their safe usage and stable operation preventing

abnormalities that could pose risks to product quality or safety. Product Quality Management Training Participants Person-times 305

Non-conforming Product Management Product Quality Management Training Hours Hours 31.5

The Company has established internal policies such as the Nonconforming Product Control Procedure and the Quality

Abnormality Handling Management System to standardize the management of nonconforming products. Effective Targets

controls are implemented through the determination identification documentation evaluation isolation handling and

notification of non-conforming items in order to prevent them from entering subsequent processes or being delivered to

customers. The Company’s products are custom-designed and manufactured as non-standard equipment according to

specific customer requirements thereby avoiding batch quality issues typically associated with mass production. Given Target Content Achievement Status

the nature of non-standard equipment the products manufactured by the Company are not subject to product recall risks

caused by quality issues. Continuously maintain zero major quality liability accidents and optimize the quality management system Steadily progressing69 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 70

Sustainable Supply Chain Strategy

Governance

Risk/

Financial

Manst is committed to building a green and efficient supply chain system. To strengthen supplier management optimize Opportunity Risk/Opportunity Description Timeframe

4 Response Measures

Impact

Type

procurement resources and mitigate procurement risks the Company has established a scientifically controlled new

supplier onboarding approval system and formulated management systems such as the New Supplier Development

Key suppliers may halt supply due to The Company establishes partnerships

and Onboarding Management System Cooperation Management System with Suppliers Establishment of Qualified Short Supplier financial or production issues potentially with multiple suppliers evaluates suppliers’

Cost Increase Medium and

Suppliers and Supplier Responsibility Management System. These systems clarify the requirements for supplier Disruption causing production line shutdowns delivery financial stability and conducts regular Long Terms

delays and decreased customer satisfaction. performance reviews.development and access processes implement tiered management of suppliers and standardize supplier review

procedures. The Procurement Management Department leads core activities such as supplier development onboarding Natural disasters such as earthquakes The Company develops disaster recovery

daily management and performance evaluation. floods and typhoons may cause facility plans selects multiple logistics routes Natural Short to damage potentially leading to disrupted Cost Increase coordinates with backup logistics providers

Disasters Medium Term

logistics and production production halts and repairs damaged facilities to ensure

Production Material Supplier Development Process and delivery delays. disaster resilience of production facilities.Supplier Information Review Team Formation and Supplier Comprehensive Qualified Supplier Emerging technologies such as big data By integrating advanced information 2 3 6 7

Research Document Review Evaluation Recognition and Onboarding Digital artificial intelligence and the Internet of technologies the Company’s supply chain Medium

Transformation Things continue to develop. The Company Reduction in management becomes more intelligent

1 Supplier Search and 4 Supplier On-site/Off-site Sample Verification and

to Long

5 8 Supplier File Establishment of the Supply can leverage these technologies to achieve cost and automated improving response speed Term

Preliminary Screening Review Process Confirmation Chain digital transformation of the supply chain and decision accuracy and strengthening

enhancing transparency and controllability. adaptability to market changes.Supplier Tiering and Evaluation

Manst has established a mature and reliable supplier tiered management mechanism to better optimize supplier Impact Risk and Opportunity Management

resources and enhance the stability and efficiency of the supply chain. The Company categorizes suppliers into

three types: general suppliers important suppliers and key suppliers. The review frequencies are as follows: annual

To ensure supply chain security mitigate potential risks and safeguard the continuity and compliance of company

documentary review semi-annual or annual on-site review and annual on-site review respectively. In cases of significant

operations the Company has formulated the Supplier Risk Management System. The supply chain management

issues related to quality delivery pricing or service supplier audits can be conducted at any time. Audits are conducted

department is responsible for its implementation and supervision conducting risk assessments and responses for all

according to the Supplier Audit Scoring Sheet. The Procurement Management Department collects data monthly on

supply chain links of the Company and its subsidiaries including but not limited to suppliers transportation warehousing

suppliers’ quality delivery and cooperation levels and completes the Supplier Monthly Performance Evaluation Form.and procurement.The monthly supplier evaluation results are divided into 4 levels based on the scores and the annual evaluation score of

a supplier is determined by the average of the scores throughout the year. Supply Chain Risk Management Objectives

Level Category Supplier Evaluation Score Range Reward and Punishment Measures (Annually)

1 Identify and assess potential risks in each link of the supply chain.

Granted priority to participate in the Company’s new project

Grade I Excellent Supplier > 95 development and preferential treatment in orders and payments. 2 Develop and implement effective risk response plans.Grade Ⅱ Approved Supplier 81–95 Maintains normal status. 3 Ensure the stability and continuity of supply chain operations.Grade Ⅲ Supplier Needing Improvement 61–81 May face order reduction increased guidance efforts or more 4

frequent on-site reviews. Comply with relevant laws regulations and industry standards.Subject to special project guidance; if unable to improve to Grade 5 Enhance the risk awareness and response capabilities of supply chain management personnel.Ⅳ III within three months qualification will be revoked. Suppliers Grade Supplier Not Approved 61 or Below

losing qualification must undergo re-evaluation according to

related assessments before resuming supply. 4Definition: Short-term: within 1 year; Medium-term: 1–5 years; Long-term: over 5 years.Risk Type Opportunity Type71 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 72

To achieve the supply chain risk management objectives the Company has formulated the following specific plans: Supply Chain Risk Assessment

The Company has established the Material Supplier Risk Assessment Measures to conduct comprehensive risk

Conduct a comprehensive supply chain risk assessment quarterly evaluations of suppliers. This assessment covers fundamental elements such as qualifications and reputation as well as

Regular Risk Assessment

identify new risk points and update the risk management plan. key business aspects including quality cost and delivery. It also takes into account ESG indicators like environmental

protection safety and human rights. Risks are classified into three levels—high medium and low—based on likelihood

and severity. Differentiated emergency response strategies are formulated for each risk level to ensure supply chain

stability and sustainable development.Establish Risk Response Develop specific response measures for identified risks including Supply Chain Risk Response

Measures contingency plans backup solutions and transfer strategies.The Company has formulated the Raw Materials/Finished Goods Supply Disruption Prevention and Emergency

Response Plan to address potential risks such as supplier disruptions natural disasters and transportation interruptions.Defensive measures and emergency response actions are established with the relevant responsible departments tasked

with monitoring the implementation progress of these measures.Implement a real-time monitoring system to track key risk indicators

Risk Monitoring System

promptly detect potential issues and take preventive actions. Responsible Procurement Management

The Company implements control over key aspects affecting procurement quality to ensure that the quality performance

delivery time and service of purchased products comply with customer legal regulatory occupational health and safety

Conduct regular training on supply chain security management and risk and environmental requirements and meet the needs of the Company’s production and management. Procurement-

Employee Training

response to enhance overall risk awareness and handling capabilities. related systems such as the Procurement Management System Procurement Application and Approval Management

System and Procurement Plan and Procurement Implementation Management System have been established.Integrity Management in the Supply Chain

Conduct an annual system review to evaluate implementation

Review and Improvement A sound supplier integrity management system ensures the legality and compliance of business conduct between the

effectiveness and make necessary adjustments and improvements. Company and its suppliers helps foster a fair and just competitive environment prevents bribery and improper benefit

transfers and promotes the sustainable development of the supply chain. During the reporting period the Company

achieved a 97% signing rate for the Integrity Agreement with suppliers. Additionally the Company regularly conducts

Identification of Supply Chain Risks integrity training for procurement personnel to strengthen their professional ethics enhance anti-corruption awareness

and ensure that the procurement process remains fair transparent and compliant.The Company places great importance on supply chain risk management and is committed to establishing a

Supplier ESG Management

comprehensive and detailed risk identification system to ensure the robustness and sustainability of the supply chain.The Company primarily employs the following multidimensional risk identification methods: Manst emphasizes the ESG responsibilities of its suppliers. The Company has established the Supplier Code of Conduct

and requires all suppliers to sign a Supplier Code of Conduct Commitment Letter. This code mandates that suppliers

1 2 3 4 5 provide a safe working environment treat workers with respect and dignity operate fairly and in accordance with

established standards and act responsibly toward the environment when providing products or services to Manst and

Market and its subsidiaries under any circumstances. To support sustainable development and social responsibility the Company Internal Audits Data

and Assessments Analysis Expert Consultation Supplier Evaluation Environmental conducts supplier audits and gives priority to collaborating with suppliers that are certified under quality management Monitoring

systems environmental management systems and occupational health and safety management systems.Conduct regular audits Collect and analyze Regularly invite Periodically assess Monitor market trends The Company has clearly defined sustainable development management requirements and assessment criteria

of all supply chain historical data supply chain experts suppliers’ financial changes in laws and

segments to identify employing data mining or consultants to health compliance regulations and for suppliers comprehensively evaluating and reviewing supplier performance to solidify their ESG management

potential risk points. techniques to predict conduct professional and operational environmental factors responsibilities. The Company has established the Supplier Sustainable Development Evaluation Form requiring

Utilize tools such future risks. Focus on evaluations and obtain capabilities through to evaluate their suppliers to conduct self-assessments in four categories: environmental management social responsibility governance

as SWOT analysis key data indicators and cutting-edge industry on-site audits and impact on the supply structure and sustainable development plans. Simultaneously the Company’s auditors evaluate suppliers’ performance

and FMEA for risk trend changes within risk information. questionnaires. chain. in sustainable development. For identified non-conformities suppliers are required to provide specific improvement

evaluation. the supply chain. measures and explain how they will follow up and monitor these improvements.73 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 74

Supplier Grievance and Communication Responsible Management of Conflict Minerals

To enhance communication and collaboration between upstream and downstream enterprises in the supply chain and Manst complies with relevant laws and guidelines including the Guidelines for Responsible Mineral Supply Chain Due

other relevant parties respond to stakeholder concerns in a timely and effective manner and continuously improve Diligence in China and the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-

the Company’s supply chain governance capabilities and information transparency the Company adhering to the Affected and High-Risk Areas. The Company is committed to adopting the requirements related to conflict minerals

principles of “honesty trustworthiness and responsibility” has formulated the Supply Chain Management Grievance outlined in these documents and has established a Conflict Minerals Commitment and Policy. Manst solemnly pledges to

and Communication Mechanism. This establishes a supply chain grievance and communication mechanism to ensure take active measures to ensure that its supply chain is free from conflict minerals. In addition the Company adheres to

that raw material procurement complies with the requirements of the Supply Chain Due Diligence Management System internationally recognized ethical standards human rights principles and environmental protection requirements firmly

diligently fulfills corporate social responsibility and establishes a standardized scientific and effective grievance refusing to purchase or use mineral resources originating from conflict-affected areas. It also strives to promote a conflict-

mechanism. It allows the Company’s stakeholders (affected individuals or whistleblowers) to voice concerns related to free and sustainable supply chain.mining trade processing and export situations and ensures they are properly addressed.Manst gives priority to suppliers that have implemented or committed to implementing aconflict-free mineral sourcing

For grievance incidents the Company has established a grievance handling working group with member units policy. The Company explicitly incorporates conflict-free mineral clauses into its procurement contracts requiring

comprising the Internal Audit and Sustainability Center Procurement Management Department etc. Relevant parties suppliers to provide compliant raw materials and to commit to adhering to Manst’s Conflict Minerals Policy.can submit grievances via email or telephone. Upon receiving grievance information the Company will conduct an

assessment and response and protect the complainant. Metrics and Targets

Supplier Training

The Company regularly conducts internal training. In August 2025 Manst organized internal supply chain and Metrics

procurement personnel from the Company and its subsidiaries to participate in supply chain management training. The

training focused on systematic learning of procurement compliance management and supply chain collaboration aiming Indicator Unit 2025

to enhance the professional competence and business capabilities of relevant personnel strengthen the standardization

level of internal procurement processes and provide solid talent support for building a stable efficient and sustainable Total Number of Suppliers Unit 754

supply chain system for the Company. After the training the Company simultaneously conducted a training satisfaction

Proportion of Domestic Suppliers % 100

questionnaire survey to comprehensively collect feedback from participants. The survey results are used to optimize

subsequent training content and continuously build an efficient and stable supply chain ecosystem. Number of Suppliers in North China Unit 40

Supplier Quantity

Furthermore to deepen supply chain collaboration and strengthen the foundation of quality and compliance the and Regional Number of Suppliers in East China Unit 270

Company regularly conducts specialized trainings for suppliers helping them accurately align with company requirements Distribution Number of Suppliers in Central China Unit 44

and enhance collaboration capabilities. In November 2025 AC NEWENERGY conducted ESG-related training for

suppliers promoting and explaining content such as environmental management social responsibility compliance Number of Southern Suppliers Unit 389

governance and sustainable supply chain construction. This training guides suppliers to establish concepts of green Number of Northwest Suppliers Unit 10

low-carbon and compliant operations enhances their ESG management awareness and practical capabilities and jointly

builds a sustainable supply chain ecosystem characterized by shared responsibility value co-creation and long-term Number of Northeast Suppliers Unit 1

stability. Supplier Code of Conduct Signing Rate % 89.25

Supplier Integrity Agreement Signing Rate % 97.20

Proportion of Suppliers with Quality Management System Certification % 75.03

Supply Chain

Sustainable Proportion of Suppliers with Environmental Management System Certification % 9.53

Management Proportion of Suppliers with Occupational Health and Safety Management System Certification % 8.08

Supplier ESG Training Activities Time(s) 2

Attendances at supplier ESG training activities / 25

Targets

Target Content Construction Status

Zero major incidents occurred continuously in the supply chain; sustainable development management was

The Company conducts supply chain management training. implemented for suppliers and the concept of sustainable development was promoted. Steadily progressing75 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 76

Protection of Customers’ Rights and Safeguarding Information Security

Interests

Information Security System

Manst’s services cover the entire product lifecycle providing customers with one-stop services from joint development

and production support to rapid response. Upholding the service philosophy of “customer first service foremost” Manst

has established a global service network with over 100 after-sales service centers and formulated management systems In the digital era information security serves as the core cornerstone for

such as the Customer Property Management System Customer Satisfaction Management System and After-Sales the stable operation and sustainable development of enterprises. ManstCustomer Complaint Management Regulations. The Company is committed to providing high-quality and prompt after- consistently adheres to the information security policy of “implementing risksales support starting from customer needs creating value for clients growing together with them and making every management ensuring information security and safeguarding sustainableeffort to safeguard their rights and interests. business development”. The Company places high importance on information

security management integrating information security protection into the

The Company continuously improves its customer service management mechanisms across pre-sale in-sale and entire business process.after-sale stages actively responds to customer needs and provides systematic and professional training for relevant

employees to effectively enhance customer service quality. The Company offers diversified communication channels for The Company continuously optimizes and improves its information security

customers including after-sales service hotlines email social media platforms and offline after-sales service outlets. management system strictly benchmarking against the requirements

Customers can choose the most suitable way to contact the after-sales service team based on their needs. of ISO/IEC 27001:2022 Information Security Cybersecurity and Privacy

Protection—Information Security Management Systems—Requirements.It has established a sound management mechanism covering full-cycle

Customer Complaint Management risk control all-dimensional technical protection and whole-process

emergency response. Simultaneously the Company has formulated a series

To ensure product and service quality and protect customer rights the Company has established a timely and effective of information security specifications including the Information Security

customer complaint handling mechanism. Customer complaints are received through multiple channels with immediate Management Manual Information Security Policy Statement of Applicability

resolution for issues that can be handled on the spot and recording of relevant information for those that cannot. The for Information Security Information Security Measurement Management

entire complaint and handling process is documented regularly analyzed and archived with improvement measures Procedure Information Security Risk Assessment Control Procedure User

formulated for recurring anomalies. After resolution satisfaction surveys are conducted service standards are strictly Access Control Procedure Network Security Management Procedure Information Security Management System

adhered to regular reviews and rectifications are carried out forming a closed-loop management system. Additionally Information Security Audit Control Procedure Cloud Service Security Certificate

the Company continuously strengthens the professional skills of the service team actively conducts specialized trainings Management Procedure Personal Privacy Information Management Procedure and Threat Intelligence Management

for customer complaint response and ensures that customer service personnel handle complaints in a friendly patient Procedure. This forms a comprehensive information security management system covering multiple areas such as

and professional manner improving the efficiency and quality of complaint resolution. supplier security data security and personal information protection.During the reporting period the Company completed the annual certification audit for the ISO/IEC 27001:2022

Customer Satisfaction Survey Information Security Management System and maintained the valid certification. It fully achieved the core objectives

of “zero information security incidents” and “passing the annual ISO 27001 Information Security Management Systemcertification”. No information security incidents occurred throughout the year establishing a solid information security

To understand customer evaluations of product quality delivery and services the Company regularly conducts barrier for the Company’s sustained and healthy business development.customer satisfaction surveys through various methods such as online phone and email questionnaires. The Company

distributes satisfaction surveys aggregates and analyzes the data determines customer satisfaction levels identifies

root causes based on survey results formulates improvement and preventive measures and continuously follows up Multi-dimensional Information Security Control

on the implementation and effectiveness of these measures. Meanwhile the Company ensures the orderly progress

of satisfaction surveys and effectively enhances customer satisfaction by establishing a comprehensive evaluation

mechanism and conducting customer service-related training. In 2025 the Company’s customer satisfaction survey Risk Control

result was 94.85%.Adhering to the risk management principle of “prevention first combining prevention and control” the Company uses

Responsible Marketing the Information Security Risk Assessment Control Procedure as the core basis. It establishes a full-cycle closed-loop information security risk control mechanism covering seven major categories: personnel assets physical assets software

assets data assets document assets service assets and intangible assets. Through standardized processes including

The Company practices the concept of responsible marketing strictly complies with national laws and regulations such asset identification risk assessment hierarchical disposition and continuous review the Company achieves refined

as the Advertising Law of the People’s Republic of China and industry standards standardizes information management control of information security risks keeping risks at an acceptable level and preventing information security incidents

and promotional activities prohibits all forms of false advertising and fully safeguards the legitimate rights and interests from the source. In 2025 the Company strictly followed procedural requirements orderly advanced various risk control

of customers. tasks and ensured the effective implementation of the control processes.77 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 78

Control Process Core Control Requirements Control Process Core Control Requirements

Asset The Company conducted the company-wide identification of information assets classifying them Network The Company deployed firewalls at its network boundaries to achieve secure isolation between internal

Identification and into seven major categories: personnel physical software data etc.; assigned classification levels Boundary and external networks preventing external network attacks; the Company implemented special network

Classification based on four dimensions: confidentiality integrity availability and business impact clarified the list of Security isolation for key departments such as physically isolating computers in the Finance Department from

Management important assets and achieved refined and differentiated management. Protection the internal LAN and the Internet eliminating the risk of sensitive information leakage.The Company strictly implemented the network access approval system; all devices and personnel

For important assets the Company comprehensively identified potential threats and vulnerabilities

Network Access accessing its network must be reviewed by the IT Operations Department and authorized by company

Comprehensive comprehensively assessed the probability of threat occurrence vulnerability exploitation probability

Authorization

Risk Assessment leadership; unauthorized private network access or connection of network cables is strictly prohibited; and asset importance level calculated risk values classified risk levels identified high-risk items and Control all network access accounts and passwords are assigned for exclusive use by specific individuals and

formed a complete risk assessment report.managed under strict confidentiality.The Company implemented differentiated disposal for risks of different levels: it accepted risks and Network The Company standardized the network equipment change management process. Changes to key

Classified Risk maintained existing controls; for unacceptable high risks it developed special plans through risk Equipment network equipment such as routers and core switches must be approved before implementation. The

Disposal avoidance transfer etc. clarified responsible departments corrective measures and completion and Operation IT Operations Department conducts special inspections on the operation status of network equipment

deadlines and achieved closed-loop control. Management quarterly retains inspection records and promptly troubleshoots equipment failures and security risks.The Company reassessed residual risks after risk disposal to ensure reduction to an acceptable level;

Residual Risk The Company’s wireless network adopts the high-security WPA encryption method sets strong access established a mechanism combining annual regular assessments and non-regular assessments Wireless Network

and Continuous passwords strictly controls wireless network access permissions and prevents risks of unauthorized

Assessment triggered by major changes or security incidents and dynamically updated asset lists and control Security Control access.measures to adapt to risk changes.Categorized Control and Emergency Management

Relying on a well-established institutional and standardized process management system the Company has established a mechanism

for grading classifying and controlling information security incidents as well as for emergency response. This comprehensively Information Security Culture and Capability Building

enhances incident response handling and recovery capabilities ensuring that sudden information security incidents can be responded

to quickly handled effectively and their impact minimized thereby fully safeguarding information system security and data asset

integrity. In 2025 the Company strictly implemented the requirements for information security incident control and emergency response. The Company consistently regards the cultivation of information security awareness among all employees as the first line of defense for

No incidents involving information security or customer privacy breaches occurred fully achieving the annual information security information security protection. It places high importance on information security training and cultural promotion continuously enhancing

management objectives. the information security literacy and risk prevention capabilities of all staff.Control Process Core Control Requirements

In 2025 the Company conducted specialized training for information security internal

auditor qualifications and regularly organized special training courses such as Information

The Company defined classification and categorization standards according to the Information Security Incident

Incident

Management Procedure: incidents are classified into four levels A (major) B C D based on information classification Security Awareness Training. These trainings covered employees from all departments

Classification and

level public impact business impact and asset loss; the Company categorized them into two major types: environmental and levels. The content included core topics such as information security management

Categorization

incidents and human-caused incidents; it clarified the handling authority response processes and control requirements

Control systems methods for protecting sensitive information network security risk prevention and

for incidents of different categories and levels achieving precise and standardized management. information security incident reporting procedures. This helped employees fully understand

information security management requirements master job-related information security

The Company formulated the Emergency Response Plan for Confidentiality Breach Incidents established an emergency protection skills and strengthen the information security protection awareness of all staff.response leadership group for sudden confidentiality loss/breach incidents clarified the organizational structure andEmergency job responsibilities established a 24-hour emergency response mechanism and followed the principles of “unifiedResponse leadership hierarchical responsibility rapid response and timely reporting”; for incidents such as leakage of confidential

Construction documents loss of carriers and unauthorized external connections of computers the Company developed special

disposal measures standardized the entire process of reporting on-site control investigation and evidence collection Indicator Unit 2025

remedial rectification and review and optimization to quickly control sudden situations.Network Security Protection Number of Data Security/Customer Privacy Protection Training Sessions Times 1

Duration of Data Security/Customer Privacy Protection Training Hour 1

The Company attaches great importance to network security protection. It has formulated the Network Security Management Procedure

with the IT Operations Department serving as the designated management department. A comprehensive multi-dimensional network Number of Participants in Data Security/Customer Privacy Protection Training Person-times 39

security technical protection system has been established to ensure the secure stable and reliable operation of the Company’s network

and information systems.04

Striving Forward with

Determination Uniting

Hearts and Minds to

Write a Glorious

Chapter

· Safeguarding Employee Well-being

· Focusing on Talent Development

· Strengthening Employee Care

· Safeguarding Health and Safety

· Practicing Social Responsibility

Contribution to the United Nations Sustainable

Development Goals (SDGs)81 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 82

Safeguarding Employee Well-being Equal Employment Control

The Company resolutely rejects any form of employment discrimination building an open inclusive and fair employment

Talent is the core cornerstone of high-quality enterprise development and the fundamental driving force for technological

environment and providing equal career development opportunities for talents from different backgrounds and fields.innovation business breakthroughs and sustainable development. Manst adheres to the core principles of legality

and compliance fairness and inclusiveness people-oriented approach and human rights supremacy. It strictly follows Centered on the core objective of equal employment the Company relies on a sound internal management system to

national labor laws and regulations as well as international human rights standards building a comprehensive full- establish a full-process closed-loop employment control system. This system safeguards employment fairness from

lifecycle employee rights protection system. institutional execution and supervision levels eliminates various unfair employment practices and effectively protects

the legitimate rights and interests of job seekers and employees. The Company strictly abides by national labor and

Employee Recruitment and Equal Employment employment laws and regulations adheres to equal employment principles throughout the entire recruitment process

establishes a diverse and inclusive recruitment and employment management system guarantees equal employment

The Company strictly complies with relevant laws and regulations such as the Labor Law of the People’s Republic rights for all job seekers implements equal pay for equal work requirements and ensures no direct or indirect

of China the Labor Contract Law of the People’s Republic of China and the Employment Promotion Law of the discrimination throughout the process.People’s Republic of China. It has formulated recruitment and employment management systems including the

Table: Core Control for Equal Employment

Employee Handbook Recruitment and Employment Management System and Labor Contract Management Measures

comprehensively standardizing the recruitment and employment process and continuously optimizing the talent selection Control Link Core Content

mechanism. The Company has zero tolerance for discriminatory behavior. Throughout the entire process of

recruitment advertisements job descriptions and interview evaluations it is strictly prohibited to use

Compliant Employment discriminatory language or evaluation criteria based on gender age race skin color nationality religion

marital status family situation disability sexual orientation etc. It is forbidden to use personal identity

Anti-DiscriminationThe Company strictly adheres to the bottom line of national labor laws and regulations upholds the principles of “fair Management characteristics unrelated to job competency as the basis for hiring decisions ensuring equal employmentcompetition openness and transparency and selecting the best candidates” standardizes recruitment and employment rights for all job applicants;

The Employee Handbook explicitly prohibits workplace harassment and discrimination. A list of prohibited

management throughout the entire process and legally protects the legitimate rights and interests of both labor and questions and a standardized evaluation system are established during the recruitment process to ensure

management. It strictly implements requirements for equal pay for equal work prohibition of child labor and prohibition of a fair and transparent interview procedure.forced labor building a compliant fair and healthy employment system.Establish a standardized recruitment implementation process covering all stages: resume screening

During the reporting period the Company had 0 incidents of labor discrimination 0 incidents of child labor employment initial interview re-interview final interview background check and hiring approval. Define the evaluation

criteria and approval authority for each stage to ensure openness fairness and impartiality throughout

and 0 incidents of forced labor. No major labor employment compliance risk incidents occurred. The turnover rate for Recruitment

Compliance Control the entire recruitment process;

employees at the manager level and above was 17.39%. For core professional technical personnel senior managers and key position personnel the Company

conducts background checks after obtaining the candidate’s consent to verify the authenticity of their

Table: Compliant Employment Management Control work history and ensure recruitment quality.Control Link Core Content Establish a recruitment recusal system strictly prohibit the hiring of relatives within the same department

All job information is publicly released through official channels clearly stating responsibilities and job and require employees to proactively declare and record when their relatives apply for company

requirements; positions;Management of

Basic Employment Sign written labor contracts with employees in accordance with the law standardizing the entire process Recusal Principle In situations involving relatives close friendships or other relationships that may affect the fairness of

Compliance of contract conclusion performance modification termination and dissolution; recruitment relevant employees must recuse themselves throughout the process and must not interfere

Implement equal pay for equal work and establish a compensation and benefits system that combines with interviews or hiring procedures thereby preventing conflicts of interest and unfair practices at the

market competitiveness with internal fairness. source.Strictly comply with laws and regulations such as the Labor Law of the People’s Republic of China and

Opposition to Child the Provisions on Prohibition of Child Labor maintaining zero tolerance for child labor. Strictly verify the

Labor age from identification documents during the recruitment process clearly setting the hiring standard as

18 years of age or older to eliminate child labor at the source.

Prohibit any form of forced labor debt bondage labor or contract labor. Establish a standardized working

Opposition to Forced hour system in accordance with the law to protect employees’ statutory rights to rest and leave;

Labor Prohibit forced labor through violence threats fraud restriction of personal freedom or other means

fostering a voluntary and fair employment environment.83 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 84

Human Rights Protection Table: Core Controls for Diversified Talent Recruitment and Allocation

Control Link Core Content

The Company regards the protection of labor human rights as a core social responsibility. It strictly follows the core Prioritize internal recruitment for vacant positions providing opportunities for job rotation and career

conventions of the International Labor Organization (ILO) international human rights standards and the Responsible advancement for current employees;Internal Priority Define the eligibility criteria screening standards and interview process for internal recruitment.Business Alliance (RBA) Code of Conduct. It has formulated the Human Rights Policy Statement and Labor Rights Allocation

Mechanism Employees who have been with the Company for at least one year have worked in their current position

Protection Policy to systematically regulate the full-process management of human rights protection. Through regular for over six months have good performance evaluations and meet the job requirements may apply

enabling reasonable internal talent mobility and maximizing value through fair competition.training and compliance reviews the Company reinforces the compliance baseline establishes multiple complaint and

rights protection channels and strives to create a safe inclusive and non-discriminatory workplace environment. It Establish multiple recruitment channels including social recruitment campus recruitment internal Diversified referrals and professional talent pools to attract a wide range of outstanding talent;

integrates diversity equality and inclusion into corporate culture and management practices solidifying the humanistic Recruitment

Channels Implement an employee referral program encourage the recommendation of candidates from diverse

foundation for the Company’s sustainable development. backgrounds and provide corresponding incentive measures to broaden the talent sourcing scope.dentify key positions such as R&D technology production technology quality control and specialized

operations based on business needs establish a personnel filing management system and update filings

Table: Human Rights Safeguards and Control Key Positions in real time for personnel changes;

and Talent Pool

Control Link Core Training Content Management Build dual talent pools (internal and external) internally reserving versatile high-potential key personnel

and externally reserving scarce high-quality talent achieving long-term reserves and rapid response

Human Rights Develop the Labor Rights Protection Policy based on domestic and international human rights standards capabilities.Compliance and labor regulations regularly conduct human rights awareness training and compliance reviews and Conduct regular campus recruitment in both spring and autumn each year develop hiring plans in

Management comprehensively safeguard employees’ legal rights. advance and clarify the number of recruits distribution of academic majors and departmental allocation;

Campus Recruitment

System Select fresh graduates through standardized processes such as campus presentations written tests

Uphold the principles of diversity and inclusion respect employees and job applicants of different interviews and comprehensive assessments and support new employees with specialized training

Workplace Inclusion

Control nationalities genders ages religious beliefs sexual orientations and disabilities eliminate workplace

programs to facilitate their integration and growth.biases and foster an equal and inclusive work environment.Indicator 2023 2024 2025

Establish dedicated complaint channels through the Human Resources Department and a special

monitoring and reporting hotline encouraging the reporting of illegal harassment and discriminatory

Complaint and Rights

Protection behavior; conduct timely and impartial investigations of complaints strictly protect the privacy and safety

Total Number of Employees 1299 1632 1664

of whistleblowers and prohibit retaliation against complainants and investigation participants with

violators subject to serious disciplinary action in accordance with regulations. Agency Workers 8 17 42

Number of part-time employees 3 4 5

Female 291 372 359

Diversified Talent Recruitment and Allocation Number of employees by gender Male 1008 1260 1305

Under 30 years old 608 644 608

Adhering to the allocation principle of “internal recruitment prioritized complemented by external channels” the Company

Number of

has established a diversified recruitment channel system balancing the growth of internal talent and the introduction of 30-49 years old 660 941 1004employees by age

external talent to achieve optimal allocation of human resources. Covering the entire process of talent recruitment and Aged 50 and above 31 47 52

allocation the Company has established a standardized control mechanism detailing implementation measures from Chinese Mainland 1295 1629 1651

dimensions such as internal competitions channel expansion key position management and campus recruitment Number of

Employees by Hong Kong Macao and Taiwan regions 0 0 1

balancing long-term talent reserves with immediate supply and promoting continuous optimization of the talent structure. Region

Overseas 4 3 12

Doctorate 2 3 3

Number of Master’s Degree 53 79 89

Employees by

Education Level Undergraduate 484 612 664

Below Undergraduate 760 938 908

Number of Ethnic Minority Employees 92 106 108

Proportion of Ethnic Minority Employees(%) 7.08 6.50 6.4985 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 86

Compensation and Benefits System Comprehensive Benefits Safeguard System

The Company has constructed a comprehensive multi-level employee benefits safeguard system covering three major

The Company strictly complies with laws and regulations such as the Labor Law of the People’s Republic of China and dimensions: statutory benefits supplementary benefits and special care continuously enhancing employees’ sense of

the Labor Contract Law of the People’s Republic of China supported by a scientific and standardized performance belonging and well-being.management mechanism to establish a compensation and benefits system with both market competitiveness and

internal fairness. The Company adheres to the principles of distribution according to work and equal pay for equal

work ensuring that compensation matches job value individual capability and performance contribution. The Human

Resources Department regularly conducts industry and regional salary surveys dynamically adjusts compensation

standards to ensure the Company’s overall compensation level remains synchronized with the market providing

employees with competitive compensation guarantees. Social Security Leave Guarantee Living Security Special Care

The Company In addition to the The Company provides The Company hasCompensation Management and Safeguards legally contributes statutory paid holidays all employees with established a “full-to endowment stipulated by the state nutritionally balanced cycle multi-scenario”

Supported by standardized systems the Company has built a full-process compensation management system insurance medical each year employees free work meals and employee care

characterized by “clear principles adaptable models reasonable structure and dynamic adjustment”. Through insurance work-related also legally enjoy offers accommodation mechanism combining

differentiated design standardized control and regular optimization it balances internal fairness and external injury insurance various types of support such as institutionalized

attractiveness implementing the incentive orientation of more pay for more work and better rewards for better unemployment leave including sick talent apartments and guarantees with

performance. insurance maternity leave marriage leave housing subsidies to humanized measures

insurance and bereavement leave some employees in allowing employees to

Compensation Design Principles housing provident maternity leave birth need. genuinely feel the warmth

fund for all employees control surgery leave of the organization.while also providing parenting leave For example during

supplementary annual leave Women’s traditional holidays and

commercial insurance Day leave etc.; the employee birthdays the

forming a “6+1” security Company strictly Company distributes

system. The coverage implements special care gifts to employees;

rate reached 100% protection policies for for situations such as

during the reporting female employees employee childbirth orLegality and compliance Fairness Competitiveness Incentivization period achieving during the “three hospitalization due tozero gaps in security periods”. illness the Company

coverage. organizes care and

Compensation Structure support activities.The Company implements a comprehensive compensation system where employee salaries consist of base

salary performance bonuses special incentives various allowances and statutory benefits.Base Salary Determined based on job value qualifications and market levels.Performance Bonus Directly linked to individual and team performance reflecting differences in contribution.Special Incentives Includes special rewards such as project bonuses and technological innovation awards

Subsidies and Benefits Covers living security subsidies such as meal allowances and accommodation.Overtime Pay Calculated and paid according to national standards.Furthermore the Company has established a standardized and transparent salary calculation and distribution

mechanism strictly adheres to compensation payment agreements legally and compliantly calculates various salaries

withholds and remits relevant fees safeguards employees’ right to know about their compensation and their rights to

labor remuneration achieving zero delays and zero deductions in salary payments.87 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 88

Scientific Performance Management System Employee Democratic Management

The Company continuously improves its performance management mechanism building a PDCA full-cycle closed-loop

performance management system. Through scientific goal setting full-cycle coaching objective evaluation and result Labor Dispute Resolution

application it achieves mutual empowerment of employee growth and organizational performance improvement. During The Company strictly adheres to national laws and regulations related to labor employment comprehensively

the reporting period employee performance appraisal coverage reached 100%. safeguarding the baseline protection of employees’ legitimate rights and interests. If labor disputes arise employees can

resolve them through multiple channels such as internal consultation and communication special mediation procedures

and statutory legal pathways in accordance with regulations. The Company consistently upholds the principles of

A system is built around four core links: goal setting coaching communication evaluation

Full-Cycle rating and result improvement. Performance goals are decomposed top-down level by level fairness justice efficient closure and proper handling concluding each dispute matter according to regulations and

Performance to ensure deep alignment with company strategy; monthly quarterly and annual three-level strives to maintain a harmonious stable and mutually beneficial labor-management relationship.Management assessment cycles are established conducting comprehensive and objective evaluations

from three dimensions: KPI indicators key tasks and competency. Democratic Management

The Company always adheres to a people-oriented approach respects employees’ status as masters strictly follows

A regular two-way performance communication mechanism is established. During the laws and regulations such as the Trade Union Law of the People’s Republic of China formulates the Trade Union Charter

assessment period superiors continuously conduct performance coaching and provide

Two-Way actively promotes democratic management and builds a comprehensive democratic management and rights protection resource support; after assessment comprehensive performance interviews are conductedCommunication and and the Performance Interview and Improvement Plan Form is filled out. Mandatory system characterized by “union’s leadership all-staff participation barrier-free channels closed-loop management andImprovement interviews are required for employees scoring below 70 points. The Human Resources independent supervision”. This safeguards employees’ rights to know participate express and supervise effectively

Department tracks the implementation of improvement plans throughout forming a complete protects their legitimate rights and interests and builds harmonious and stable labor relations.improvement closed loop.Employee Communication and Appeals

Performance Special performance appeal channels are established. Routine appeals are resolved within The Company actively fosters an open inclusive and barrier-free communication environment establishes diversified

Appeal 5 working days; for complex matters final results are issued within 10 working days after employee communication channels insists on listening to every employee’s voice attaches great importance to and

Mechanism reporting to the General Manager ensuring fairness and justice in assessments.provides timely responses to employee feedback and suggestions and adopts feasible recommendations.The mechanism of “better performance better pay; ability to move up or down” is strictly Regular Two-way Communication Mechanism

Application of implemented. Assessment results are deeply linked with compensation incentives and

Performance career development directly affecting floating bonuses and year-end bonus distribution. The Company regularly holds employee forums building a bridge for face-to-face communication. It has established a

Results Excellent employees are given priority for promotion and salary adjustment opportunities communication system covering the entire employee career cycle integrating scenarios such as monthly communication

while employees with lower assessment results receive targeted training or job transfers. during probation confirmation interviews performance coaching feedback special interviews for position transfers/

promotions/demotions and exit interviews. Relying on multiple channels like weekly/monthly meetings departmental

review meetings employee forums and internal communication platforms it synchronizes company operational updates

To establish an open transparent and sustainable long-term incentive mechanism the Company initiated the selection and policy adjustment information and widely solicits employee opinions and suggestions.process for “Long-term Incentive Partners” in 2025. This aims to select a group of dedicated individuals who identify

with the company culture possess high loyalty and sustained contribution capability and are willing to grow with the Appeal and Whistleblowing Mechanism

Company to be included in the candidate pool for future equity incentive or employee stock ownership plans sharing in

The Company has also opened an “Employee Complaint and Appeal” channel on the OA system encouraging

the long-term development dividends of the Company.employees to submit reasonable requests and improvement suggestions. A standardized multi-level appeal and

As of the end of 2025 the Company had completed the implementation of the first and second phases of its share reporting system has been established with dedicated appeal processes for matters such as performance and rewards/

repurchase plans cumulatively repurchasing 2.5868 million shares. These repurchased shares are intended for future punishments. Daily requests can be escalated through department heads HR and management. At the same time

employee stock ownership plans or equity incentives at appropriate times. The Company will continue to advance its processing timelines and closed-loop procedures are clearly defined strictly protecting the privacy rights of appellants

long-term incentive plans joining hands with all employees to focus on and promote the Company’s long-term prosperity and whistleblowers with zero tolerance for retaliation ensuring fair and timely handling of requests and that every matter

and development. receives a response.89 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 90

Protection of Women’s Rights and Interests Focusing on Talent Development

Manst has always been fully aware that female employees constitute the backbone of corporate development and play an irreplaceably Talent is the core engine of a company’s technological innovation and the fundamental driving force for achieving high-

important role in all links including technological innovation business management production and operation and service support. The quality sustainable development. Manst adheres to the core strategy of “strengthening the enterprise through talent”

Company strictly abides by national laws and regulations such as the Special Rules on the Labor Protection of Female Employees deeply integrating talent cultivation and employee career development into the entire business process. It has built a full-

continuously improves the institutional system and implementation measures for the protection of women’s rights and interests spares

no effort to create an equal inclusive respectful and friendly workplace environment build a fair and broad career development platform cycle talent development system of “concept guidance - channel empowerment - training foundation” comprehensively

for female employees and fully safeguard their legitimate rights interests as well as physical and mental health. empowering employees to grow and succeed achieving resonance and mutual benefit between the enhancement of

employees’ personal value and the long-term development of the Company.Equal Employment and Equal Guarantees for Career Development

The Company firmly opposes any form of employment discrimination. By establishing clear recruitment policies and processes it Talent Development Philosophy

provides female employees with equal competitive opportunities as male employees in all stages such as recruitment promotion and

training. Within the talent cultivation system it guarantees female employees’ equal right to participate in various training programs

includes outstanding female employees in the Company’s core talent pool opens dual career development paths in management andprofessional tracks and encourages female employees to develop deeply in multiple fields such as management R&D and functions The Company adheres to the core talent development philosophy of “people-oriented value creation commonfully unleashing the potential of female talent. development and shared achievements”. It constructs a systematic full-cycle talent development plan using talent

as the engine value as the bond and mutual benefit as the vision striving to build a learning organization that grows

The Company’s trade union has specially established a women’s employee committee dedicated to safeguarding the rights and

interests of female employees. It represents female employees in conducting equal consultations with the Company on matters related together with its talent.to rights protection effectively safeguarding their legitimate rights and interests and promoting their comprehensive development. In

2025 female employees accounted for 18.70% of manager-level positions at the supervisor level and above in the Company.

Special Care for Women’s Rights and Interests

Being people-oriented is the foundation of Creating value is the core orientation

The Company actively builds a learning organization

The Company strictly implements special protection policies for female employees development and practical growth platform encouraging employees

during pregnancy maternity and breastfeeding periods. In accordance with the Special The Company highly values the personalized needs to continuously improve in professional skills cross-

Rules on the Labor Protection for Female Employees it provides statutory paid leaves and growth potential of talent. Through scientific talent border col laboration and forward-looking vision

such as prenatal check-up leave maternity leave and breastfeeding leave. It prohibits assessment and customized career planning it tailors promoting employees to transform knowledge reserves

assigning female employees in special periods to unsuitable positions or work intensities suitable growth paths for each employee continuously into core momentum driving the Company’s technological

and strictly forbids dismissing employees changing contracts or reducing salaries fostering a corporate culture atmosphere of respect innovation product upgrades and service optimization

on grounds such as marriage or pregnancy thereby comprehensively safeguarding inclusion and empowerment fully stimulating the achieving simultaneous leaps in personal value

their job stability and compensation benefits. Simultaneously the Company has set up internal motivation and innovative vitality of talent. nted Va

ori

e lue and corporate core competitiveness.standardized mother-and-child rooms to provide private and comfortable environments

for breastfeeding employees. It also implements flexible work arrangements for female

employees in special periods reasonably adjusting work content and intensity to Harmony

provide all-around support. “Charming Women Blooming Brilliance”

March 8 Women’s Day Activity Sharing achievements is the h Common development is the

Furthermore the Company has established a regular exclusive care mechanism for female employees. During the annual “March 8th” ieve n dments ommo

International Women’s Day it organizes exclusive themed activities for all female employees and distributes holiday gifts and warm long-term commitment C ecological support

wishes. It regularly organizes special lectures on women’s health and specialized physical examination services to comprehensively The Company establishes a comprehensive internal The Company constructs a multi-level talent echelon

safeguard the physical health of female employees. knowledge sharing platform transforming the dividends of and regular job rotation mechanism breaking down

talent development into development benefits perceptible departmental barriers and promoting cross-domain

to all employees. Through clear career promotion experience sharing and capability integration. Through

channels diversified honor recognition systems and long- diverse cultivation methods such as mentorship and

term knowledge sharing plans it allows strivers to obtain project-based systems it promotes the deep alignment

corresponding career achievements and value returns of employees’ personal growth goals with the Company’s

consolidating the core talent force for the Company’s strategic development goals forming a two-way-driven

sustainable development. growth closed loop.Women’s Health Lecture

People-

evelopment

atio

cre

c

ared

a

Sh91 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 92

Diversified Career Development Channels Standardized Promotion Management and Growth Support

The Company has formulated the Employee Promotion Management Measures clarifying promotion conditions selection

The Company breaks through the career development bottleneck of a “single management channel”. Based on business criteria and full-process management standards. It has established a fair just and transparent promotion managementmodels and functional divisions it has constructed a career development system of “dual channels operating in parallel mechanism while providing full-cycle support for employee career development comprehensively empowering employeemulti-dimensional growth and full-cycle support” providing employees with diversified and actionable growth paths growth.enabling every employee to achieve career advancement on a track suitable for them.Parallel Dual Tracks and Multi-Dimensional Growth Standardized Promotion Management

The Company has established a regular promotion review mechanism with employee performance appraisal results

Based on functional divisions the Company classifies positions into 6 major categories: management sales technical

professional administrative and skilled roles. These are further subdivided into 46 specific job types offering employees competency and value contribution as the core review criteria. It conducts annual centralized promotion reviews and

diversified career development paths. opens special promotion channels for core key talents and high-potential employees. Post-promotion it implements

special probationary period assessments position training plans and effectiveness evaluations to ensure the

Management Sequence effectiveness of the promotion mechanism.Focused on cultivating leadership and coordination capabilities this sequence is designed for employees skilled in teammanagement resource integration and business decision-making. The progression path is structured as “Junior Supervisor → Full-Cycle Growth SupportMiddle Manager → Senior Director → Executive Leadership” emphasizing core competencies such as goal management cross-

department collaboration strategic execution and organizational development.Professional Sequence Personalized Development Plan

Focused on deepening technical expertise and fostering professional innovation this sequence targets core talents such as Customizes learning roadmaps based on employees’ career goals providing resources such as managementtechnical backbones and business experts. The career ladder is set as “Junior Engineer → Intermediate Engineer → Senior training technical certifications and project practice to accelerate capability leaps.Engineer → Principal Engineer → Technical Expert”. Through tackling technical challenges accumulating knowledge and

Mentorship and Job Rotation Practice

enhancing industry influence it aims to cultivate top-tier professional benchmarks.Assigns senior mentors to high-potential employees and broadens their professional horizons through cross-

The dual-track mechanism enables employees to advance their careers either through the management path or by departmental job rotations and participation in key projects solidifying their versatile capabilities.continuously refining their expertise in their professional field achieving a win-win for both personal growth and the Regular Talent Review Mechanism

Company’s development.Conducts core talent reviews integrating performance data 360° assessment results and project experience to

Scientific Job-Person Matching extract key elements of core talent forming dynamic capability profiles for core personnel.The Company has established a standardized position management and qualification system to achieve precise

matching between employee capabilities and job requirements. Through a scientific evaluation mechanism it enables those “skilled in management” to lead teams in expanding

territories and those “proficient in their profession” to delve deeply into their fields and become experts ultimately

Based on the core responsibilities and business objectives of positions the Company establishes a dynamic achieving resonance between employee growth and company development.Competency “competency-position” matching model. Through the Position Atlas and Job Description it clarifies the

Profiling and Job required knowledge skills and competency standards for each job level and position clearly defining the core

Modeling responsibilities qualification requirements and value output measurement standards of positions providing Full-Cycle Employee Training System

employees with a clear competency benchmark for career development.Two-Way Through annual competency assessments and development potential evaluations combined with employees’ Driven by both the Company’s strategic goals and employee development we have established a full lifecycle trainingAssessment and career plans and the Company’s strategic needs the Company regularly conducts job suitability analyses. This management framework encompassing “demands analysis – resource integration – digital enablement – feedbackDynamic supports lateral transfers vertical promotions or cross-track transitions enabling employees to fully utilize theirAdjustment loop”. The “721” blended learning model (70% practical experience + 20% coaching + 10% formal training) is employed talents and maximize their contributions.to strengthen business scenario-based learning. Leveraging the online learning platform “ManE Classroom” and an

internal-external pool of instructors courses are precisely delivered to meet employee needs. Aligned with the dual-

For core key positions such as mechanical R&D the Company has formulated the Guidelines for MechanicalR&D Qualification Management. Through a management model of “establishing channels clarifying standards track promotion system and dynamic competency assessments this ensures talent-job matching in both management SpecializedQualification and strict certification” it guides employees to proactively learn and enhance their capabilities. Standardized and professional sequences. A four-level evaluation system combined with a credit-based incentive mechanism tracks

Management certification achieves precise person-job matching which is gradually extended and refined across all job behavior transformation and performance improvement creating an integrated “learn-practice-apply-evaluate” ecosystem

sequences building a unified and standardized qualification management system for the entire company. that continuously enhances organizational capabilities and maximizes employees’ career value.93 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 94

Training System Planning * Form an Instructor Management Committee from reviewing the quality of instructor course development to evaluating instructor

level promotions ensuring the quality of course output and instructor teaching thereby further guaranteeing the effectiveness of training

programs;

The Company is comprehensively building its training system based on the “ManE Classroom” platform supported by the Training

Credit Management System and the Instructor Management Committee. Guided by four categories of training programs—Leadership In 2025 the Company carried out group-wide instructor special activities continuously enhancing instructor activity and engagement

(Management) Sequence Professional Sequence Technical Sequence and General Sequence—the system fully covers training encouraging more outstanding employees to join the internal instructor team and willingly sharing practical experience and professional

management across employees’ onboarding growth development and leadership stages. knowledge. By the end of 2025 the Company had certified 135 internal instructors who cumulatively conducted over 370 training

sessions throughout the year.

2025

Key Training Projects Instructor Management Committee

Training Operations Learning Technology

M: Leadership (Management) P: Professional Sequence T: Technical Sequence G: General Sequence

Curriculum Development

Pilot Phase I Office Software Phase II

Voyage Phase I International Talent Development Instructor Management Instructor Empowerment Team Instructor Certification Team Instructor Incentive Team

Endurance Phase I Cross-Department Communication Learning Platform

Departure Phase I Speech and Expression External Affairs

Climbing Phase I Best Practices

Coating Edge Phase I Management Case Handbook

On-the-Job “Position-Level Universal” Skills Training Training Management Process

Onboarding “Manst Rising Star” Orientation Training and System Development

Faculty Management Committee Training Coordinator

Indicator Unit 2025

Employee Training Expenditure RMB millions 2.9409

Employee Training Coverage Rate % 92.31

Digital Learning Platform Construction

Number of Employee Training Session 656

Total Number of Trainees / 1536 The Company continuously optimizes and upgrades the “ManE Classroom” online learning platform integrating diversified and

systematic learning resources to build the Company’s digital learning ecosystem.Total Training Duration Hours 15203.5

The platform focuses on employees’ full-cycle systematic learning covering core modules such as industry knowledge job competency

Average Annual Training Duration per Employee Hour/Person 9.14 cultivation and leadership development. It supports employees’ learning needs throughout their entire career growth path with rich video

course resources enabling employees to learn anytime anywhere on demand. This achieves efficient knowledge accumulation and

Note: Average training hours per employee per year = Total training hours / Total number of employees at year-end.precise transfer aiding employee capability enhancement and organizational knowledge retention.Training System Capacity Building Full-Category Course System Construction

Professional Instructor Team Building The Company constructs seven core course modules covering the entire career

cycle and all job sequences including Business Empowerment Professional SkillsThe Company strengthens the construction of the instructor team with “tiered certification dynamic empowerment and value co-Management Capabilities Professional Literacy EMBA Studies Language Skills andcreation” as the core building a full-cycle instructor and course development management system covering “selection - cultivation -Manst Rising Stars. Course content is precisely matched to the competency needs ofmotivation - evaluation” continuously solidifying training capabilities.employees in different positions and at different levels.* Strictly screen and certify through a tiered instructor pool (internal experts/certified instructors/external instructors) supporting by TTT

The course system covers the entire career lifecycle from new employees to senior

training course design workshops and “mentor coaching” to improve teaching capabilities;

management encompassing all competency levels from basic skills to high-end

* Establish an instructor selection mechanism strongly linking course development and teaching hours with instructor level promotion strategy. It not only meets employees’ personalized learning needs but also closely

and setting up an annual “Gold Instructor” award tracking teaching satisfaction and trainee behavior improvement data in real-time aligns with the Company’s business development requirements directly empowering business process optimization and operational

implementing level adjustments and resource allocation based on annual dynamic assessments; efficiency improvement providing solid support for the Company’s talent pipeline construction and sustainable development.T Engineer Thinking

Enhancement

T Position Skill

Enhancement Training

P Three-System Awareness

Training Camp

P Training Coordinator

Training Camp

P Product Capability

Training Camp Phase I

P Project Management

Training Camp Phase I

P Product System Training

Camp Phase I95 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 96

Key Project Training Professional Technical Sequence Training

The Company establishes a job skill cultivation system oriented by business needs

New Employee Orientation Training highly valuing the continuous improvement of employees’ professional capabilities.Targeted specialized training is regularly conducted for various professional

As an important component of talent pipeline construction the Company places high importance on the integration and sequences such as R&D technology production quality and marketing. Training

growth of new employees. In 2025 we launched the “Manst Rising Stars” mixed-type training program for campus- creatively adopts the “Four-Step Learning Transformation Method” (goal alignment

recruited new employees. Through the innovative model of “online mandatory courses + offline in-depth exchanges” → on-the-job practice → review and optimization → results validation) and relies

we created an immediate learning channel of “learning upon arrival combining learning with application” helping on the “ManE Classroom” digital learning platform to track training effectivenessnew employees quickly complete their identity transition while reserving fresh talent for the Company’s sustainable in real-time. Through a three-dimensional evaluation mechanism of “averagedevelopment. learning hours behavioral improvement and performance enhancement” it ensures training content resonates with business

development effectively supports the Company’s rapidly growing talent needs and provides strong support for employees’

career development.Leadership Sequence TrainingThe Company places great emphasis on building management capabilities and has systematically developed a “LeadershipSequence” training system covering modules such as New Energy Momentum New Energy Acceleration New Energy General Skills Sequence Training

Engine New Energy Leader. This system innovatively adopts the “721” blended training model integrating “theoreticallearning + action learning + practical assessment + innovation workshops” to comprehensively enhance the strategic

thinking change leadership and organizational management skills of high-potential talents and managers at all levels. The Company systematically builds a general skills cultivation system focusing on business needs systematically

This system not only focuses on systematic delivery of management knowledge but also emphasizes the application of conducting practical training such as PMP Project Management Basic Korean Language Class and Product Management.skills in real business scenarios continuously cultivating leaders who can meet the Company’s future development needs. Through the dual-track model of “online platform + offline face-to-face training” it constructs a closed-loop cultivation

system of “learning – testing – practicing – competing – evaluating” and establishes a “Learning Champion” incentive plan

continuously improving employees’ professional capabilities and work efficiency aiding high-quality business development.97 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 98

“Efficiency Pioneer” Specialized Training Strengthening Employee Care

The Company highly values the sustainable improvement of Employee Care and Supportorganizational efficiency. Through the trinity model of “processoptimization + tool empowerment + cultural activation” itpromotes the organization’s transformation from “experience- The Company adheres to a people-oriented approach values employees’ spiritual needs continuously improvesdriven” to “data-driven” and “technology-driven”. In 2025 in the employee care system fosters a healthy warm and harmonious workplace atmosphere constantly enhances

collaboration with external professional consultants we conducted employees’ sense of belonging and happiness and helps employees grow together with the enterprise.the “Efficiency Pioneer” specialized training and PK competition

focusing on Feishu efficiency tools and AI skill applications Rapid Response to Work Difficulties

covering core positions across all company functions business

The Company pays close attention to the challenges and difficulties employees encounter in their work and has

and technology. Through practical training and competition we

systematically enhanced employees’ digital office capabilities established a standardized rapid response mechanism for work-related difficulties. Once an employee faces difficulties

aiding organizational efficiency upgrades. at work the leadership of the employing department and the Human Resources Department promptly organize

communication meetings to gain an in-depth understanding of the root causes assist the employee in analyzing the

Through the “Efficiency Pioneer PK Competition” employees reasons and jointly develop solutions. This ensures that employees receive timely support and resources allowing them

were encouraged to apply the learned tools and skills to their to focus on their tasks with peace of mind.work and submit actionable efficiency improvement proposals.Ultimately 11 outstanding cases were selected and promoted

company-wide forming a digital culture atmosphere of Case Study: Assistance for Employees Facing Difficulties After Job Transfer

“competing learning catching up and surpassing”.In 2025 an employee of the Company experienced low work efficiency and anxiety due to unfamiliarity with

the new position’s processes after a cross-departmental transfer and reported related concerns to the Human

Resources Department. The Company immediately activated a rapid response mechanism collaborating with the

employee’s direct supervisor to develop a customized job coaching plan and adjusting short-term task goals based

on adaptation progress. After one month of specialized coaching the employee became fully competent in the new

role. This assistance also fostered a positive atmosphere of mutual support and growth within the team.Targeted Assistance for Major Difficulties

For employees or their families facing special hardships such as major illnesses accidents or significant life changes

the Company’s labor union has established a comprehensive condolence and subsidy mechanism. This provides

affected employees with special condolence payments hardship allowances and emergency assistance. For unexpected

incidents a dedicated emergency response procedure is in place to ensure rapid response and continuous follow-up

assisting employees and their families with matters such as work-related injury reporting and insurance claims. Through

concrete actions the Company provides a safety net and helps employees and their families overcome difficulties with all

its strength.Supporting Children’s Education

The Company actively addresses the educational needs of employees’ children by proactively researching local school

enrollment policies and high-quality educational resources. It offers supporting services such as enrollment information

consultation and application process assistance to employees in need striving to alleviate concerns about their children’s

schooling. This enables employees to dedicate themselves to work with greater peace of mind.Safeguarding Mental Health

The Company places high importance on employees’ mental health consistently prioritizing their psychological safety and

personal dignity. It has established a full-process mental health support mechanism covering prevention identification

and intervention striving to foster a healthy respectful safe and equitable workplace psychological environment. This

effectively safeguards employees’ mental health and legitimate rights and interests.99 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 100

Control Module Core Content

Establish a full-channel confidential feedback system including OA system appeal processes dedicated

Diversified Confidential complaint email and hotline providing employees with safe and unobstructed avenues to express their

Feedback Channels for appeals. For each complaint a special investigation team is promptly formed to verify and handle the matter

Employee Appeals strictly protecting the complainant’s information and privacy throughout the process to effectively safeguard

employees’ legitimate rights and interests.Promote a workplace culture of “respect and equality” adopt a zero-tolerance policy towards workplace

Zero-Tolerance harassment bullying and discrimination and clearly define red lines for workplace conduct in the system;

Workplace Anti-

Harassment and Anti- upon the occurrence of any violation promptly conduct an independent and impartial investigation and

Bullying Mechanism impose strict penalties while providing affected employees with comprehensive support such as professional

psychological counseling and job adjustments to ensure workplace safety and personal dignity. Dragon Boat Festival Activity Dragon Boat Festival Activity

Establish a full-process system of “prevention-identification-intervention-follow-up” regularly carry out mental

Full-process Mental health knowledge promotion and emotional management training to enhance all employees’ mental health

Health Intervention awareness; identify employees’ psychological distress through multiple channels and intervene in a timely

System manner providing professional psychological counseling and continuous follow-up services for employees in

need helping them maintain a positive and healthy mindset.Employee Activities

The Company’s labor union committee regularly organizes monthly employee activities. The Company continuously

implements inclusive employee care initiatives by distributing exclusive holiday gifts and warm greetings to all employees

during important traditional festivals such as the Spring Festival Dragon Boat Festival and Mid-Autumn Festival. This Mid-Autumn Festival Activity Mid-Autumn Festival Activity

allows employees to feel the Company’s care during traditional celebrations continuously enhancing their sense of

belonging and collective identity.Spring Festival Hair-cutting Activity Table Tennis Activity

Badminton Activity Badminton Activity

Traditional Chinese Medicine Health Preservation Lecture Activity Traditional Chinese Medicine Health Preservation Lecture Activity Mental Health Scenario Drama Activity Enterprise BA Basketball Competition Activity101 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 102

Safeguarding Health and Safety As of the end of the reporting period Manst Manst Optoelectronics Anman Technology Chongman New Materials Huaiman Automation Huaiman Fluid AC NEWENERGY and Hunan AC have all passed the ISO 45001 Occupational

Health and Safety Management System certification audit. Some of the certificates are as follows:

Occupational Health and Safety Management SystemThe Company consistently adheres to the occupational health and safety policy of “full participation safety firstand achieving zero harm” placing the safety of employees’ lives and physical health as the top priority in corporate

development. It strictly complies with laws and regulations such as the Work Safety Law of the People’s Republic of

China and the Law of the People's Republic of China on Prevention and Control of Occupational Diseases establishing

a comprehensive occupational health and safety management system to systematically prevent and mitigate work

safety and occupational health risks. The Company strives to ensure the smooth and orderly conduct of production and

operational activities and effectively safeguard the safety and health rights of all employees.The Company has formulated internal management systems including the Occupational Health and Safety Management

Statement Work Safety Management System Occupational Health Management System Fire Safety Management

System and Chemical Management System to prevent control and eliminate occupational hazards arising from

production and operational processes thereby ensuring the health and safety of employees.The Company has established a comprehensive occupational health and safety management organization andresponsibility system implementing a two-tier management structure of “decision-making and coordination + dailypromotion”. It strictly enforces the “dual responsibility” for work safety clarifies the safety responsibilities of personnel Manst Optoelectronics AC NEWENERGY Manst Occupational Health Hunan AC Occupational Health

at all levels promotes full participation and comprehensive process coverage in safety management and ensures the Occupational Health and Occupational Health and and Safety Management and Safety Management

Safety Management System Safety Management System

orderly implementation of all safety management tasks. System Certificate System Certificate Certificate Certificate

Establish an Occupational Health and Safety Management Leading Group and a Dual

Prevention Mechanism Construction Leading Group with the General Manager as the group

leader and the Administration Manager Safety Director Production Director and heads of Primary Responsibility System for Work Safety

Organizational various departments as core members to coordinate major safety decision-making;

Structure Setup The Company has compiled the Safety Standardization Management Manual. Workshop work safety implements a full-

Establish a Dual Prevention Mechanism Construction Promotion Team with the Safety

Director as the team leader responsible for specific tasks such as safety system staff responsibility system with the workshop director as the primary person responsible for work safety bearing overall

implementation daily supervision hazard investigation and training and education. responsibility for workshop safety. Functional personnel at all levels are responsible for work safety within their respective

areas of responsibility and employees are responsible for work safety in their respective positions. During the 2025

Principal Responsible Person: The primary responsible person for occupational health and reporting period all workshops strictly implemented various rules and regulations and the Company achieved zero

safety fully responsible for system construction resource assurance and supervision and fatalities zero serious injuries and zero major safety incidents.assessment;

Safety Management Department: Undertakes professional management tasks such as Overall Objectives of Work Safety

Safety

Responsibilities system formulation daily inspections and risk assessment;of Personnel at The Company adopts “zero work-related fatalities zero serious injuries zero major safety incidents and zero newAll Levels Heads of Various Departments/Workshops: Directly responsible for safety in their respective occupational disease cases” as its core management objectives striving to minimize the occurrence of various

areas implementing safety control and hazard rectification within their regions;

safety incidents avoid harm to human health and prevent damage to the ecological environment. It deeply promotes

All Employees: Comply with safety operating procedures fulfill job safety responsibilities standardized work safety management adheres to the people-oriented principle strengthens safety awareness trainingparticipate in hazard investigation and emergency response achieving “all personnel whole for employees enhances the safety quality of the workforce and establishes a comprehensive and standardized long-process all-around and round-the-clock” safety management.term work safety management mechanism at all levels of the Company.103 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 104

Work Safety Risk Management Case Study: Manst Comprehensive Fire Emergency DrillThe Company strictly adheres to the requirements of the General Rules for the Construction of a Dual Prevention Mechanism for In June 2025 the Company conducted a comprehensive fire drill themed “Everyone Talks Safety Everyone Can RespondGraded Control of Enterprise Safety Risks and Rectification of Hidden Hazards continuously deepening the construction of the dual Inspect potential hazards Around You” at the Zhukeng Park in Shenzhen. The drill organized full-staff emergency

prevention mechanism for safety risk classification control and potential hazard investigation and management to prevent and resolve evacuation hands-on practice with fire extinguishers use of fire hoses instruction on filter self-rescue respirators

safety accident risks from the source. and practical firefighting exercises by the volunteer fire brigade. This further strengthened the Company’s fire safety

Risk Identification and Assessment management enhanced employees’ skills in fire self-rescue mutual rescue and emergency evacuation raised all staff’s awareness of disaster prevention and mitigation and minimized the harm of fire accidents to protect personnel and property

The Company has established a systematic and comprehensive occupational health and safety risk identification and assessment safety.system. It coordinates multiple departments to form specialized teams covering key areas such as production warehousing and

laboratories as well as all operational activities. Through multi-dimensional identification methods and the LEC risk assessment method

the Company implements risk classification control and visual public disclosure fully implementing safety management requirements.Through specialized identification the Company’s storage and usage quantities of hazardous chemicals do not exceed the critical

thresholds specified in the GB18218-2018 standard and therefore do not constitute a major hazardous chemical source.Completed comprehensive identification of hazards across all areas and all operational activities covering core production

and business premises and the entire process of special operations; Case Study: Dongguan AC Comprehensive Fire Emergency Drill

Adopted multi-dimensional compliance identification methods comprehensively considering hazard types across all

timeframes and states identifying hazards through multiple channels and accurately defining them in accordance with laws

regulations and standards; In November 2025 Dongguan AC organized all employees to conduct a factory fire emergency drill covering four aspects:

Conducted quantitative risk assessment using the LEC method classifying risks into four levels—red orange yellow and evacuation casualty rescue firefighting and fire safety knowledge explanation. Preparations and task assignments were

blue—based on risk values; completed before the drill and the process was standardized and orderly effectively improving employees’ emergency

Formulated differentiated control measures for each risk level clarified full-chain control responsibilities and achieved on-

evacuation and firefighting practical skills and enhancing inter-departmental coordination efficiency.site visual public disclosure through risk lists job notification cards four-color distribution maps etc.Potential Hazard InvestigationThe Company has established a potential hazard investigation system combining “daily inspections special inspections comprehensiveinspections seasonal inspections and holiday inspections” achieving closed-loop management of the entire process from potential

hazard investigation to closure. Simultaneously the Company has formulated systems such as the Safety Inspection System and the 24-

Hour Duty Inspection System clarifying the investigation authority responsibilities and frequencies for the safety production leadership

group various departments and positions. It has established a graded and fixed-frequency investigation mechanism achieving

full-scenario and full-time coverage of safety production inspections. The Company has also implemented a corresponding graded

rectification mechanism differentially fulfilling the governance requirements for general and major potential hazards. It standardizes

the recording of full-process information through a complete potential hazard management ledger and continuously optimizes safety

control measures by regularly conducting statistical analysis of potential hazard data to identify high-frequency risk points. In 2025 the

Company achieved a 100% closed-loop rate for potential hazard investigation and rectification.Emergency Plans and Drills

In accordance with laws and regulations such as the National Work Safety Law and the Fire Protection Law of the People’s Republic of

China the Company has formulated the Work Safety Accident Emergency Response Plan the Fire Emergency Response Plan and

others to enhance employees’ safety awareness and self-protection capabilities. Meanwhile based on the actual production and operation

conditions and risk characteristics the Company has developed and improved a comprehensive production safety accident emergency

response plan system including 1 comprehensive emergency response plan 3 special emergency response plans and 14 on-site disposal

plans. The emergency response plans are effectively linked with the relevant government emergency response plans of Pingshan District

Shenzhen ensuring seamless connection between internal plant emergency response and government emergency response.Adhering to the principle of “preparing for emergencies through drills and promoting improvements through drills” the Company formulates

an annual emergency drill plan and regularly organizes various types and levels of emergency drills ensuring that on-site disposal plan

drills are conducted no less than once per year and comprehensive/special emergency response plan drills no less than once per year.During the reporting period the Company conducted 4 safety emergency drills with 427 person-times ensuring the ability to promptly

contain the escalation of work safety accidents and minimize the injuries losses and impacts caused by such accidents.105 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 106

Safety Management Measures Safety Education and Training

The Company has established a differentiated safety training system covering all employees all positions and

Equipment and Operation Safety Management different levels and categories encompassing all scenarios such as new employee orientation on-the-job retraining

special operations and specialized skills. During the reporting period the safety training coverage rate reached

The Company focuses on the entire chain safety of production equipment and special operations comprehensively ensuring the safety

and compliance of production operations through equipment lifecycle management implementation of specialized operation standards 100% comprehensively enhancing employees’ safety awareness operational skills and emergency response

and optimization of the on-site environment. capabilities thereby strengthening the talent defense line for occupational health and safety. Furthermore in

2025 the Company organized multiple specialized safety skills training sessions including forklift safe driving and

Equip production equipment such as CNC machining centers grinding machines occupational health and safety. All participants passed the assessments effectively improving employees’ safe

and air storage tanks with complete safety protections emergency stop devices and

warning signs; operation and protection capabilities.Equipment Whole-Lifecycle

Establish equipment ledgers implement regular maintenance and inspections to

Safety Management

prevent “operation with faults”;

Special equipment is inspected by qualified agencies in accordance with regulations

to ensure safety performance meets standards.New employees must complete company-level workshop-level and team-level three-

Three-Level Safety level safety education before starting work. The content covers work safety laws and

Develop specialized operating procedures for special operations such as grinding Education for New regulations company safety systems risk distribution in the plant area job operation

lifting hot work and confined space entry; strictly implement operation approval

Special Operations Employees procedures and emergency response skills. They can only start working after passing the

and on-site supervision with high-risk operations requiring approval before

Standardized Control

commencement; ensure 100% of special operations personnel are certified and assessment.undergo regular re-certification.Implement fixed-position management in production workshops standardize the

In-service employees regularly participate in safety retraining and specialized skill training.Work Site Environment placement of materials and tools to ensure clear safety passageways; implement anti-

Optimization slip flooring and adequate lighting measures; equip with oil mist purifiers and dust Regular Training for In- Job safety training is carried out through pre-shift meetings and weekly team meetings.removal devices to improve the work environment and prevent safety risks. Service Employees Specialized trainings are organized promptly for new processes new equipment and new

materials to continuously enhance safety awareness and operational skills.Related Party Safety Management

The Company fully implements the ISO 45001 Occupational Health and Safety Management System deeply integrating its requirements After completing “Three-level Safety Education” and specialized skill training special

as well as national occupational health and safety laws regulations and standards into the entire process of supplier and partner Specialized Training operations personnel must pass assessments by government units to obtain valid

qualification assessment and daily operation evaluation. By clearly stipulating occupational health and safety performance clauses for Special Operations certificates before starting work. Regular review training and skill enhancement training

in cooperation contracts the Company promotes related parties to strictly implement their own safety management responsibilities Personnel

are organized to prevent working without certificates and non-compliant operations.effectively safeguarding the occupational health rights and work safety of their employees.Fire Safety Management

Fire safety trainings and publicity initiatives are regularly organized covering new

The Company implements the principle of “prevention first combining prevention and firefighting” formulates the Fire Safety Fire Safety and Specialized employees (including temporary workers) personnel in key fire prevention areas and key

Management System and prevents fire accidents reduces personnel and property losses and ensures orderly production and operation Training job types. Specialized knowledge training is conducted for personnel handling hazardous

by standardizing the configuration and maintenance of firefighting facilities strengthening fire prevention control improving emergency

plans and conducting training and drills. The plant area is equipped with sufficient firefighting equipment as per regulations micro fire chemicals. They can only start work after passing the assessment.stations are established and designated personnel are responsible for the inspection maintenance and replacement of firefighting

facilities to ensure they are 100% intact and effective. The hot work permit system is strictly enforced warning signs are posted in no-fire

zones unauthorized hot work and smoking are strictly prohibited regular insulation testing of electrical circuits is conducted combustible

debris is cleared and fire exits and safety exits are kept unobstructed. Special emergency response plans and on-site disposal plans

are formulated and regular fire safety knowledge training and emergency drills are organized to enhance employees’ capabilities in

initial fire response and evacuation.107 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 108

Case Study: “Safety 2025” Series of Safety Themed Activities Case Study: Occupational Health and Safety Training

In 2025 Manst planned and launched the “Safety 2025” series of safety-themed activities to promote the implementation of safety

concepts at the grassroots level and their integration into the entire production process. The activities coordinated three core In September 2025 the Company conducted a specialized training on occupational

modules to comprehensively strengthen the safety defense line: health and safety covering 43 employees from various departments. It systematically

explained core content such as occupational health protection and workplace health

First knowledge empowerment to solidify awareness. The Manufacturing Department systematically deployed annual safety and safety standards effectively enhancing the overall occupational health and safety

education and training strictly implemented relevant regulations such as the Work Safety Law of the People’s Republic of China awareness of employees standardizing workplace health protection behaviors and

fulfilled the enterprise’s primary responsibility for work safety popularized safety knowledge clarified job safety responsibilities practically safeguarding employees’ occupational health rights and workplace safety.and enhanced the overall safety literacy of all employees from the source.Second skill practice to forge the team. Specialized skill enhancement activities for grinding machine positions were carried

out. Through systematic theoretical training practical rotation training comprehensive assessment and physical production skill Case Study: Specialized Training on Work Injury Accident Prevention

competitions employee skill levels were evaluated from multiple dimensions such as qualification rate precision and human

efficiency aiming to build a team of new quality productive forces with excellent technical skills and safety stability. In July 2025 the Company organized a specialized training on work injury accident prevention. The training focused on

Third practical drills to enhance capabilities. Emergency drills such as fire evacuation were organized based on the Company’s engineering accident prevention emphasizing three main contents: analysis of typical accident cases overview of production

risk characteristics. By simulating fire situations and hands-on fire extinguisher use on-site employees were enabled to master equipment safety and work injury accident prevention measures. It covered over 50 participants including frontline operators

key skills proficiently effectively improving emergency response capabilities for sudden incidents. The series of activities covered and safety management personnel from various departments of the Company. The training effectively enhanced the overall

all production positions with full participation effectively safeguarding employees’ lives and health strengthening the Company’s awareness of engineering accident prevention and on-site safety control capabilities strengthened equipment safety operation

safety management level and providing a solid safety guarantee for the Company’s high-quality and sustainable development. and maintenance as well as operational risk prevention and control fortified the Company’s safety defense line against work injury

accidents and practically safeguarded employees’ personal safety and the orderly progress of production and operation.Indicator Unit 2025

Work Injury Insurance Coverage Rate % 100

Safety Training Expenditure RMB 122300

Number of Safety Training Session 28

Attendances at Safety Training / 847

Case Study: Forklift Safe Driving Training Total Duration of Safety Training Hours 46.5

Number of Safety Hazard Inspections / 114

In September 2025 the Company organized a specialized training on forklift safe driving. Number of Safety Hazard Rectifications / 196

Chen Shunwei from the Administration Department served as the lecturer teaching

Safety Hazard Rectification Rate % 100

about forklift operation laws and regulations common models safety management

requirements and accident warning cases. All participants passed the assessment Number of Work-related Fatalities / 0

effectively enhancing the safety operation awareness and standardized operation Number of Work-related Injuries / 3

capabilities of forklift operators and strengthening the safety control of material handling

operations in the plant area. Number of Workdays Lost Due to Work-related Injuries / 145

Number of Production Safety Incidents / 0109 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 110

Occupational Health Management Measures Practicing Social Responsibility

Occupational Disease Hazard Detection and Identification The Company adheres to the core value of responsibility and doing good guided by

The Company annually commissions qualified occupational health testing and evaluation “uniting people strengthening culture building image and expanding connections”.companies to detect occupational disease hazard factors in the workplace publicizes the test It coordinates and carries out employee care and social public welfare activities

results to employees and establishes detection archives. continuously consolidating team cohesion and the image of a corporate citizen.In 2025 the Company commissioned an institution with occupational health technical service Simultaneously it deeply integrates the concept of social responsibility into its

qualifications to conduct regular detection of occupational disease hazard factors in all development strategy and corporate culture insisting on the coordinated advancement

workplace areas across the entire factory site comprehensively identifying the occupational of economic and social benefits. It actively creates employment opportunities fulfills

disease hazard factors present in the production process. These mainly include chemical tax obligations according to law supports the high-quality development of the local

hazards (methanol acetone isopropanol etc.) dust hazards (graphite dust metal processing economy and promotes the harmonious coexistence of the enterprise and society.dust etc.) and physical factors (noise hand-transmitted vibration). The detection results

showed that the concentration/intensity of occupational disease hazard factors for all positions In 2025 Manst continued to implement its long-term ecological public welfare strategy

in the Company met the requirements of the Occupational Exposure Limits for Hazardous Agents in the Workplace with completing the annual adoption and maintenance of 100 mu of forest land under the

no instances exceeding the limits. The occupational health conditions of the work sites complied with relevant national “Ten-Year Plan of Planting Trees Nurturing Hearts”. This project was initiated by the Alxa Planting Trees Nurturing

standards.Hearts Ecological Civilization Practice Education Center (Base). Since 2023 Manst has committed to adopting 100

Occupational Health Examinations and Surveillance mu of forest land annually for ten consecutive years. Through large-scale afforestation it aids in the management of

desertified land improves the regional ecological environment protects biodiversity and practices the “dual carbon”

To promptly understand employees’ health status and identify potential occupational disease risks the Company arranges pre-

employment on-the-job and pre-departure health examinations for employees exposed to occupational disease hazard factors. It goals with concrete actions. This is the Company’s core long-term ecological public welfare implementation project.establishes individual occupational health surveillance files for each employee maintaining them properly. For employees with abnormal

examination results the Company promptly arranges re-examinations job transfers and medical interventions to effectively prevent

the occurrence of occupational diseases. Additionally the Company provides annual routine health examinations covering all in-service

employees safeguarding their physical health comprehensively.During the reporting period the occupational health examination coverage rate for employees in positions exposed to occupational

disease hazard factors was 100% and no new occupational disease cases occurred.Occupational Disease Prevention and Protection Measures

The Company earnestly implements relevant regulations such as the Law of the People's Republic of China on Prevention and

Control of Occupational Diseases the Administrative Provisions on Occupational Health in the Workplace and the Provisions on the

Supervision and Administration of Labor Protection Articles. For positions with occupational disease hazard factors the Company

provides a sufficient quantity of effective protective facilities and personal protective equipment.Implement wet processing enclosed hood dust removal and local exhaust ventilation for

dust-generating processes to reduce dust concentration; adopt vibration damping and Furthermore the Company actively fulfills its corporate social responsibility. It collaborates with neighborhood offices

Engineering Protection

sound insulation measures for noisy equipment and establish soundproofed operation

Measures and community union associations to conduct public welfare activities such as summer cooling care visits deepening

rooms; install fume hoods and fresh air systems in chemical usage areas; implement

community engagement and government-enterprise cooperation. It conveys corporate warmth shapes a responsible and

ventilation and cooling measures in high-temperature areas.caring corporate citizen image and enhances brand reputation and social recognition.Provide nationally standardized PPE such as dust/toxic gas masks anti-noise earplugs

Personal Protective

safety goggles protective gloves protective clothing and insulated shoes based on job

Equipment (PPE)

hazard types; establish management systems for PPE issuance replacement and usage

Management

and supervise employees to wear them properly.Occupational Hazard Place warning signs with Chinese cautionary instructions in workplaces with occupational

Warning Management disease hazards to enhance occupational health protection reminders.111 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 112

Content Indexes Independent Assurance Statement

Self-Regulatory Guidelines No.Global Reporting Initiative (GRI) 17 for Companies Listed on

Report Contents Shenzhen Stock Exchange—

Sustainability Reporting Standards Sustainability Report (For Trial

Implementation)

Preface to About This Report 2-1/2-2/2-3 /

This Report Message from the Chairwoman 2-11/2-22/2-23 /

About Manst 2-1/2-2/2-6/2-9/2-10/2-26 /

Sustainable Development Governance 2-14/2-22 Article 51

Sustainable

Development Stakeholder Communication 2-12/2-16/2-27/2-29/413-1 Article 53

Management

Materiality Issues Analysis 3-1/3-2/3-3 /

Standardized Governance System

Advancing 2-9/2-10/2-11/2-12/2-13/2-16/2-18/2-19/2-20/3-3 Article 51

Steadily and Strengthening the Compliance Defense Line 2-19/2-20/3-3/205-1/205-2/205-3/206-1 Article 53

Securely

Fortifying the Article 54/Article 55/

Foundation Adhering to Business Ethics 2-27/3-3/207-1

of Compliant Article 56

Governance Safeguarding Shareholders’ Rights and Interests 2-12/2-16/3-3 Article 53

Addressing Climate Change 3-3/201-2/305-1/305-2/305-4/305-5 Articles 21 to 28

Low-Carbon Deepening Environmental Governance 3-3 Article 33

Environmental

Protection 3-3/301-1/302-1/302-2/302-3/302-4/302-5/303-1Optimizing Resource Utilization Articles 34 to 37

Practicing /303-2/303-3/303-5

Ecological

Responsibility 3-3/303-2/303-4/305-7/306-1/306-2/306-3/306-4

Strict Control of Pollution Discharge Articles 29 to 31

/306-5/413-1

Innovation-Driven Development 3-3 Article 42/Article 43

Empowering

Value Co- Enhancing Product Quality 3-3/416-1/416-2/417-1 Article 47

creation Sustainable Supply Chain 2-8/3-3/308-1/308-2/414-1/414-2 Article 45

through

Innovation and Protection of Customers’ Rights and Interests 2-25/3-3/416-1/416-2/417-1/418-1 Article 47/Article 48

Quality

Safeguarding Information Security 3-3/417-1/418-1 Article 48

2-7/3-3/201-3/401-1/401-2/405-1/406-1/408-1

Safeguarding Employee Well-being Article 49/Article 50

Striving /409-1

Forward with

Determination Focusing on Talent Development 2-7/3-3/404-1/404-2 Article 49/Article 50

Uniting Hearts Strengthening Employee Care 2-7/3-3 Article 49/Article 50

and Minds

to Write a 2-7/3-3/403-1/403-2/403-3/403-5/403-6/403-7

Glorious Safeguarding Health and Safety Article 49/Article 50

Chapter /403-8/403-9/403-10

Practicing Social Responsibility 3-3/203-1 Article 38/Article 40

Content Indexes / /

Reader Feedback / /113 Shenzhen Manst Technology Co. Ltd. 2025 Sustainability Report 114115 Shenzhen Manst Technology Co. Ltd.Reader Feedback

Thank you for taking the time to read the Shenzhen Manst Technology Co. Ltd. 2025 Sustainable Development Report.We highly value and look forward to your valuable opinions and suggestions on the Company’s sustainable development

work and management. Your feedback is an important basis for us to continuously improve our sustainable development

work and management. We sincerely invite you to assist by completing the relevant questions in the reader feedback and

providing it to us through the following methods. Thank you again for your strong support of our sustainable development

efforts!

Tel: 0755-89369620

Fax: 0755-89369869

Email: manst-ir@manst.cn

Address: Factory Building 3 Unit C No. 101~201 Third Industrial Zone Zhukeng Community Longtian Street

Pingshan District Shenzhen

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□ Shareholder or Investor □ Government & Regulatory Authority □ Client □ Partner □ Employee

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management