China Risun Group Limited — M&A Activity 2025

Feb 27, 2025

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

RISUN

China Risun Group Limited

中國旭陽集團有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1907)

INSIDE ANNOUNCEMENT COOPERATION INTENTION AGREEMENT

This announcement is made by China Risun Group Limited (the "Company", together with its subsidiaries, the "Group") pursuant to Rule 13.09(2)(a) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

COOPERATION INTENTION AGREEMENT

The board (the "Board") of directors (the "Directors") of the Company hereby announces that, on February 26, 2025 (after trading hours), Risun Group Limited ("Risun Group") (旭陽集團有限公司), a wholly-owned subsidiary of the Company, entered into a non-legally binding cooperation intention agreement (the "Agreement") with Beijing SinoHytec Co., Ltd ("Beijing SinoHytec") (a company whose A shares are listed on the Shanghai Stock Exchange STAR Market, stock code: 688339 and whose H shares are listed on the Main Board of The Stock Exchange of Hong Kong Limited, stock code: 2402). Pursuant to the Agreement, Risun Group intends to dispose of its entire equity interest in Dingzhou Risun Hydrogen Energy Co., Ltd. (定州旭陽氫能有限公司) in exchange for the A shares issued by Beijing SinoHytec as consideration shares (the "Potential Disposal").

BACKGROUND OF BEIJING SINOHYTEC

Beijing SinoHytec is a leading provider of fuel cell systems, focusing on the design, development and manufacture of fuel cell systems and stacks (a key component of the system) mainly for commercial vehicles in China.

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GENERAL

The Board wishes to emphasize that the Potential Disposal contemplated under the Agreement may or may not proceed and that the parties have not entered into a legally binding agreement in relation to the Potential Disposal contemplated under the Agreement as at the date of this announcement. If the Potential Disposal materializes, it may constitute a notifiable transaction of the Company under the Listing Rules and further announcement(s) will be made by the Company in compliance with the Listing Rules as an when appropriate.

As the Potential Disposal may or may not proceed, shareholders and potential investors are advised to exercise caution when dealing in the securities of the Company.

By Order of the Board
China Risun Group Limited
Yang Xuegang
Chairman

Hong Kong, February 27, 2025

As at the date of this announcement, the executive Directors are Mr. Yang Xuegang, Ms. Lu Xiaomei, Mr. Li Qinghua, Mr. Han Qinliang, Mr. Wang Nianping and Mr. Yang Lu; and the independent non-executive Directors are Dr. Yu Kwok Kuen Harry, Mr. Wang Yinping and Dr. Liu Xiaofeng.

• For identification only