Earnings release
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– 1 – 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. Sigenergy Technology Co., Ltd. อ ঐ ๕ ( ɪ ऎ )ʮ ̡ (A joint stock company incorporated in the People ’s Republic of China with limited liability ) (Stock Code: 6656) INTERIM RESULTS ANNOUNCEMENT FOR THE SIX MONTHS ENDED JUNE 30, 2026 The Board hereby announces the unaudited consolidated interim results of the Company and its subsidiaries for the six months ended June 30, 2026, together with the comparative figures for the six months ended June 30, 2025. The contents of this interim results announcement have been prepared in accordance with applicable disclosure requirements under the Listing Rules in relation to preliminary announcements of interim results and the IFRS Accounting Standards. The Board and the Audit Committee have also reviewed and confirmed the interim results. Unless otherwise specified, the Company’s financial data is presented in Renminbi. In this announcement, “we”, “us”, and “our” refer to the Company and where the context otherwise requires, the Group. INTERIM RESULTS HIGHLIGHTS For the six months ended June 30, Selected Financial Information 2026 2025 Period-on- period RMB’000 RMB’000 change (%) (unaudited) (unaudited) Revenue 9,873,625 2,733,786 261.2 Gross profit 3,998,996 1,419,377 181.7 Profit before tax 3,034,359 870,907 248.4 Profit for the period 2,427,650 806,605 201.0 Profit attribute to owners of the Company 2,427,716 806,605 201.0 Non-IFRS financial measures: (Note) Adjusted net profit 2,485,349 1,053,823 135.8 Note: Please refer to section headed “Non-IFRS Measures” in this announcement for more details.
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– 2 – MANAGEMENT DISCUSSION AND ANALYSIS BUSINESS REVIEW Business Review for the Reporting Period We are an energy solutions provider covering a full range of application scenarios, including residential, commercial and industrial, and ground-mounted power plant applications. We are committed to deeply integrating AI, power electronics, energy storage and advanced software technologies to provide smarter, safer, more efficient and scalable energy solutions for households, businesses and large-scale energy projects worldwide. We develop and provide innovative energy products and solutions for various application scenarios, including residential, commercial and industrial applications, as well as ground- mounted power plants. In residential, commercial and industrial applications, our flagship product seamlessly integrates a solar inverter, EV DC charger, Power Conversion System (PCS), battery pack, and Energy Management System (EMS) with a modular, stackable product design. With simple stacking or module replacement, users can flexibly tailor system capacity and functions to meet their energy needs across different scales and application scenarios, showcasing substantial flexibility and scalability. In ground-mounted power plant scenarios, we further extend our core technologies accumulated in power electronics, energy storage, energy management and intelligent control to large-scale energy systems. With integrated hardware and software system design and intelligent energy management, we provide customers with safe, efficient, intelligent and scalable energy solutions. Products and Solutions We develop and provide innovative renewable energy solutions for homes and businesses, integrating the latest advancements in power electronics, cloud computing, and AI. Our products are designed to integrate seamlessly into diverse residential, commercial and industrial, and ground-mounted power plant environments, adapting to varying energy consumption needs. To enhance user experience, we developed the AI-powered software system, which provides comprehensive visibility and control over energy use. The software system enables real-time monitoring, intuitive device management, and efficient troubleshooting across our product suite, delivering a seamless, all-in-one solution for intelligent energy management across multiple platforms and devices. During the Reporting Period, we generated our revenues from sales of products, including primarily our Sigen energy storage series products, which consistently represented over 90% of our total revenues. To a lesser extent, we also generated revenue from the sale of energy gateways, including three-phase gateways, commercial & industrial (C&I) gateways, and single-phase gateways, as well as other products such as EV AC chargers.
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– 3 – Sigen Energy Storage Series Products The Sigen energy storage series products include SigenStor, SigenStack, and SigenTerra etc. These products integrate a solar inverter, EV DC charger, PCS, battery pack and EMS into one AI-optimized solution in a modular and stackable design for residential energy storage and other applications to optimise the experience for installers and end-users. Energy Gateway The energy gateway is a smart backup box providing intelligent energy management and monitoring, automatically detecting power outages and providing seamless transition to backup ESS power sources when used in combination with our Sigen energy storage series products. Technology Through continual research and development, we have established a core technology system covering areas including power electronics, battery management systems (BMS), smart charging and Vehicle-to-Everything (V2X), cloud computing and AI, virtual grid, as well as advanced manufacturing, testing and product safety design. These technologies are integrated throughout the entire product lifecycle, encompassing product design, energy management, manufacturing and operation and maintenance, and are continuously incorporated into the Sigen energy storage series products and other ESS solutions to enhance system efficiency, safety, reliability, scalability and intelligence. Power Electronics Technology We have developed an advanced DC bus architecture that enables the integration of photovoltaic-storage inverters, battery packs, and DC chargers via a DC bus coupling, enhancing the system’s dynamic response and energy conversion efficiency. We have also continued to reduce the failure rate of high-power systems through end-to-end reliability design, including rigorous batch quality control of raw materials, reliability assessments for hardware and software, intelligent production management, fault induction testing and risk interception. At the same time, we have incorporated large-capacity energy storage with coordinated photovoltaic control and advanced grid-connected/off-grid control algorithms to enhance operational stability and grid-connected and off-grid control performance under complex operating conditions.
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– 4 – Battery Management System (BMS) We have adopted a high-safety fully parallel architecture of battery packs, under which each battery pack is independently controlled through isolated DC-DC modules, enabling the system to be compatible with battery packs from different cell suppliers and with different levels of ageing, while isolating failures of a single battery pack and reducing its impact on the operation of other modules. The cloud-based collaborative BMS leverages cloud-based big data with a 10-second refresh rate, together with real-time device-side data, the Extended Kalman Filter (EKF), cloud-based AI models and digital twin technology, to continuously enhance its capabilities in measuring, predicting and correcting the State of Health (SOH), State of Power (SOP) and State of Charge (SOC) of batteries, while supporting early fault identification. Smart Charging and V2X Technology Our charging solutions support major global charging communication standards, such as CCS1, CCS2 and GB, with a focus on enhancing vehicle compatibility and success rate of initial charging. Leveraging our DC bus architecture, DC charging can flexibly utilize both grid-based and PV power sources, coupled with AI algorithms to improve energy utilization efficiency. In terms of V2X, we continue to advance interoperability between vehicles and charging stations, and develop functions including V2L, V2H and V2G, enabling electric vehicles to interact bidirectionally with loads, homes, buildings and the power grid, expanding application scenarios such as outdoor emergency power supply, home energy optimization, demand-side response and grid ancillary services. Cloud Computing, AI and Virtual Grid Technology We have developed the cloud-native Sigen Cloud platform to support the connection, processing and management of high-volume distributed energy hardware and diverse usage scenarios. Furthermore, through the unified architecture of Sigen Cloud and the mySigen App, we enable real-time monitoring, device management, intelligent diagnosis, troubleshooting, automatic connection and syncing across product modules. Sigen Cloud also provides channel partners with digitalized information relating to production, shipment, inventory and installation, supporting more efficient market assessment, sales forecasting and inventory management. In terms of AI, we leverage cloud-based big data and neural network models to continuously enhance our cloud-based BMS and energy management algorithms, incorporating information such as system operation, load, dynamic tariffs and weather forecasts to perform battery status and power generation forecasts and energy scheduling. During the Reporting Period, we further advanced our “AI in All” strategy by launching mySigen App 4.0 and integrating SigenAgent into the core energy management experience, enabling the system to generate energy strategies, control devices, locate faults and analyze data trends based on user objectives. We also leverage the platform’s capabilities in connecting and controlling vast numbers of household PV and energy storage devices to support real-time monitoring, data communication and response for virtual grid and VPP-related applications.
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– 5 – Advanced Manufacturing, Testing and Safety Design We continue to develop product technologies and manufacturing processes in an integrated manner, and have established technical capabilities covering intelligent CTP pack manufacturing and testing, fully automated gluing, stacking connections, thermal management and multi-layer battery safety protection. Our CTP pack manufacturing and testing methods leverage advanced manufacturing, simulation and testing equipment to enhance product lifetime, yield, consistency and end-to-end traceability. Our fully automated gluing process adopts a two-step filling and one-step vacuuming process to improve the reliability of our inverters. The quick-connect and vertically stacked packs design of products such as SigenStor and SigenStack enables battery capacity to be expanded without increasing floor space. We also optimize thermal management for multi-layer stacking through measures such as isolated air ducts and composite heat dissipation structures, while enhancing the safety of our energy storage systems through multi-layer protection measures including full-coverage battery cell temperature sensors, aerogel insulation, high-temperature insulation, aerogel fire extinguishers and decompression valves. Research and Development System and Processes We adopt the integrated product development (IPD) approach, under which functions including product quality assurance, R&D, manufacturing and procurement are integrated into a single project team. Furthermore, we conduct ongoing technical reviews and quality validation throughout various stages, including project initiation, market and technical analysis, product design, prototype development, design verification and testing, customer trial runs, internal trial production and commercial launch. We also continue to develop a platform-based common R&D architecture to enhance the iteration efficiency of existing product lines and support product expansion across residential, C&I, ground-mounted power plants, and broader energy scenarios. FUTURE OUTLOOK Continue to Invest in Technology Innovation and Expand Full-Scenario Product Portfolio and Application Scenarios We remain committed to advancing our core R&D and technical capabilities across inverters, energy storage, and charging solutions, with a focus on elevating user experience, energy efficiency, and safety. With the further expansion of our product matrix during the Reporting Period, we have built a full-scenario portfolio of products and solutions covering residential, C&I and ground-mounted power plant applications. Going forward, we will continue to iterate the energy ecosystem of residential, C&I and ground-mounted power plant and solar-storage-charging solutions, to address differentiated demands across various markets and application scenarios.
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– 6 – Deepen the “AI in All” Strategy and Advance the Integration of Cloud Computing, AI and Advanced Software Technologies We will continue to integrate communications, AI and AIoT technologies to further embed AI into energy planning, dispatching, safety, operation and maintenance, and customer service. Leveraging key platforms including SigenAgent, mySigen App 4.0 and cloud-native Sigen Cloud Platform, we will continuously strengthen our capabilities in real-time data processing, intelligent diagnostics, remote energy management and autonomous decision-making, while exploring additional value-added applications covering dynamic electricity tariffs, power market trading, virtual power plants and third-party ecosystem integration. Expand Production Capacity and Intelligent Manufacturing Capabilities We will expand our production and delivery capacity in an orderly manner based on market demand, product mix and production ramp-up progress. The Nantong Intelligent Energy Center has commenced operation during the Reporting Period. In the future, we will continuously introduce advanced equipment, production processes, digital systems and smart manufacturing technologies. While ensuring product quality, we seek to optimize production efficiency, cost efficiency, delivery speed and production flexibility. Accelerate Global Expansion and Localized Services We will seek to deepen our market penetration across Europe and expand our presence in APAC, Africa and North America, while continuously exploring opportunities in emerging markets such as Latin America, the Middle East and Central Asia. We will deliver differentiated solutions tailored to align with local energy demands, regulatory requirements and channel characteristics. In addition, we will continuously refine our localized sales, technical support, after-sales service as well as distributor and installer ecosystems to enhance customer experience and improve service responsiveness. Enhance Strategic Cooperation along the Industry Value Chain We will further strengthen collaboration with participants across the industrial chain, including core part suppliers, global distributors and installers, project developers, power grid systems, and virtual power plant (VPP) partners. By continuously enhancing the openness, interoperability and third-party integration capabilities of the Sigen Cloud platform, we will drive coordinated development of the ecosystem covering products, channels and energy services, and expand the application scope of intelligent energy management and power market participation.
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– 7 – FINANCIAL REVIEW Revenues Revenues of the Group increased by 261.2% period-to-period to RMB9,874 million for the six months ended June 30, 2026. The following table sets forth our revenues by product for the six months ended June 30, 2026 and 2025: Six Months Ended June 30, 2026 2025 RMB’000 % RMB’000 % (unaudited) (unaudited) Sigen energy storage series 9,296,494 94.2 2,532,312 92.6 Gateway 358,254 3.6 127,288 4.7 Others* 218,877 2.2 74,186 2.7 Total 9,873,625 100.0 2,733,786 100.0 *Note: including primarily standalone EV AC chargers and accessories. Revenue growth during the Reporting Period was mainly attributable to the continued expansion of the Group's business scale and the increase in sales volume across its product portfolio. Revenue from the Sigen energy storage series, Gateway and others increased by 267.1%, 181.5% and 195.0%, respectively, to RMB9,296 million, RMB358 million and RMB219 million for the six months ended June 30, 2026. The increase was primarily driven by the growth in the relevant business volume.
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– 8 – Cost of Sales Cost of sales of the Group was RMB5,875 million for the six months ended June 30, 2026, which increased by 346.9% period-to-period. By revenue source, cost of sales derived from Sigen energy storage series increased by 357.1%, cost of sales derived from Gateway increased by 235.2%, and cost of sales derived from others increased by 227.1%, respectively. The following table sets forth a breakdown of our cost of sales by product, in approximate amounts and as a percentage of our total cost of sales, for the six months ended June 30, 2026 and 2025: Six Months Ended June 30, 2026 2025 RMB’000 % RMB’000 % (unaudited) (unaudited) Sigen energy storage series 5,514,811 93.9 1,206,390 91.8 Gateway 267,101 4.5 79,677 6.1 Others* 92,717 1.6 28,342 2.2 Total 5,874,629 100.0 1,314,409 100.0 *Note: including primarily standalone EV AC chargers and accessories. Gross Profit and Gross Profit Margin Gross profit of the Group was RMB3,999 million for the six months ended June 30, 2026, which increased by 181.7% period-to-period. Gross profit margin of the Group decreased to 40.5% for the six months ended June 30, 2026 from 51.9% for the six months ended June 30, 2025. The decrease in gross profit margin was mainly attributable to the increase in raw material costs, and the Company's increased investment in channel incentive policies.
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– 9 – The following table sets forth our gross profit and gross profit margin by product for the six months ended June 30, 2026 and 2025: Six months ended June 30, 2026 2025 Gross profit Gross profit margin Gross profit Gross profit margin RMB’000 % RMB’000 % (unaudited) (unaudited) Sigen energy storage series 3,781,683 40.7 1,325,922 52.4 Gateway 91,153 25.4 47,611 37.4 Others* 126,160 57.6 45,844 61.8 Total 3,998,996 40.5 1,419,377 51.9 *Note: including primarily standalone EV AC chargers and accessories. • Gross profit for Sigen energy storage series increased by 185.2% period-to-period to RMB3,782 million for the six months ended June 30, 2026, and gross profit margin for Sigen energy storage series decreased to 40.7% from 52.4% for the corresponding period in 2025. Despite the significant increase in gross profit, the decline in gross profit margin was primarily driven by the increase in raw material costs and the Company's increased investment in channel incentive policies. • Gross profit for Gateway increased by 91.5% period-to-period to RMB91 million for the six months ended June 30, 2026, and gross profit margin for Gateway decreased to 25.4% from 37.4% for the corresponding period in 2025. Despite the increase in gross profit, the decline in gross profit margin was primarily driven by the Company's implementation of channel incentive policies. • Gross profit for others increased by 175.2% period-to-period to RMB126 million for the six months ended June 30, 2026, and gross profit margin for others decreased to 57.6% from 61.8% for the corresponding period in 2025. Despite the increase in gross profit, the decline in gross profit margin was primarily attributable to the Company's implementation of channel incentive policies.
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– 10 – Other Income and Gains Other income and gains of the Group decreased by 2.7% period-to-period to RMB142 million for the six months ended June 30, 2026, primarily due to decrease in gains from forward foreign exchange hedging projects. Other Expenses Other expenses of the Group increased by 572.6% period-to-period to RMB129 million for the six months ended June 30, 2026, primarily due to an increase in losses arising from fluctuations in foreign exchange rates. Selling and Distribution Expenses Selling and distribution expenses of the Group increased by 102.3% period-to-period to RMB330 million for the six months ended June 30, 2026, primarily driven by increases in labor expenses and insurance expenses. Administrative Expenses Administrative expenses of the Group decreased by 29.7% period-to-period to RMB172 million for the six months ended June 30, 2026, primarily due to the decrease in equity- settled share-based payment expenses. Research and Development Expenses Research and development expenses of the Group increased by 62.9% period-to-period to RMB371 million for the six months ended June 30, 2026, primarily due to increased investment in labor expenses, which was mainly attributable to the expansion of our R&D team to support our growing business. Finance Costs Finance costs of the Group increased by 313.3% period-to-period to RMB30 million for the six months ended June 30, 2026, primarily due to the increase in interest expenses on bank borrowings as we sought additional financing to support our business expansion.
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– 11 – Impairment Losses on Financial Assets, Net Impairment losses on financial assets, net of the Group increased significantly to RMB74 million for the six months ended June 30, 2026. The increase was primarily attributable to the increase in impairment losses on financial assets over time, which was broadly in line with the expansion of our business scale, resulting in higher transaction volumes and a broader customer base. Specifically, the significant increase in the principal amount of trade receivables resulted in corresponding increases in credit sales and outstanding receivables balances. Income Tax Expense Income tax expense of the Group increased significantly to RMB607 million for the six months ended June 30, 2026, in line with the significant growth in our revenue during the Reporting Period. Profit for the Period Profit for the period of the Group was RMB2,428 million for the six months ended June 30, 2026, as compared to profit of RMB807 million for the six months ended June 30, 2025. Non-IFRS Financial Measures To supplement our interim condensed consolidated financial statements presented in accordance with IFRS Accounting Standards, we use adjusted net profit (non-IFRS measure) for the period as an additional financial measure, which is not required by, or presented in accordance with IFRS Accounting Standards. We define adjusted net profit (non-IFRS measure) for the period as the profit for the period adjusted to add back equity-settled share-based payment expenses and listing expenditures. We believe that this non-IFRS measure facilitates comparisons of operating performance from period to period and company to company by eliminating potential impacts of items. We believe that this non-IFRS measure provides useful information to investors in understanding and evaluating our consolidated results of operations in the same manner as it helps our management. The use of this non-IFRS measure has limitations as an analytical tool, and investors should not consider it in isolation from, or as substitute for analysis of, our results of operations or financial condition as reported under IFRS Accounting Standards.
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– 12 – The non-IFRS adjusted net profit has not been calculated in accordance with the IFRS Accounting Standards, and thus is deemed a non-IFRS financial measure. The non-IFRS adjusted net profit refers to the net profit after excluding equity-settled share-based payment expenses and listing expenditures. The following table sets forth a reconciliation of our adjusted net profit (non-IFRS measure) for the six months ended June 30, 2026 and 2025 presented to the nearest measures prepared in accordance with IFRS Accounting Standards, which is profit for the six months ended June 30, 2026 and 2025: Six Months Ended June 30, 2026 2025 RMB’000 RMB’000 (unaudited) (unaudited) Profit for the period 2,427,650 806,605 Adjustments: Equity-settled share-based payment expenses(1) 44,164 231,132 Listing expenditures 13,535 16,086 Adjusted net profit (non-IFRS Financial Measures) for the period 2,485,349 1,053,823 Note: (1) Equity-settled share-based payment expenses represent compensation paid in the form of company shares options or restricted shares to employees, directors, or dispatched workers from third-party employment agencies, which are non-cash in nature. Through eliminating the effects of such item on the calculation of non-IFRS adjusted net profit, relevant operating performance can be better reflected, and it would be more convenient to compare operating performance in different periods. Liquidity and Capital Resources We have historically funded our cash requirements mainly from cash generated from our business operations, shareholder contributions and bank loans. After the Global Offering, we intend to finance our future capital requirements through cash generated from our business operations and the net proceeds from the Global Offering. We currently do not anticipate any changes to the availability of financing to fund our operations in the near future. During the six months ended June 30, 2026, we funded our cash requirements principally through cash generated from business operations and proceeds from the Global Offering. Our cash and cash equivalents increased by 642.5% from RMB1,109 million as of December 31, 2025 to RMB8,236 million as of June 30, 2026.
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– 13 – The following table sets forth our cash flows for the periods indicated: For the six months ended June 30, 2026 2025 RMB’000 RMB’000 (unaudited) (unaudited) Net cash flows from operating activities 1,974,001 450,762 Net cash flows used in investing activities (445,171) (137,336) Net cash flows from financing activities 5,657,999 394,203 Net increase in cash and cash equivalents 7,186,829 707,629 Cash and cash equivalents at beginning of period 1,109,293 424,294 Effect of exchange rate changes on cash and cash equivalents (59,833) 34,631 Closing balance of cash and cash equivalents 8,236,289 1,166,554 We have adopted various liquidity and capital management policies to ensure sufficient liquidity for our operations. For example, (i) we manage our trade and bills receivables risks through holding trade credit insurance from reputable institutions to protect outstanding receivables against the risk of customer non-payment, while we have established procedures to monitor and follow up with customers who are late or at risk of late payment, (ii) we produce and regularly review sales forecast to determine appropriate inventory levels, taking into account historical and projected sales, procurement costs, production capacity, market conditions and other relevant factors, and (iii) we regularly review and stress-test our levels of bank borrowings and repayment periods against actual and projected cash inflows to ensure repayment obligations can be met. As our operations continue to mature and scale with our business growth, we will continue to refine such policies to improve our liquidity and working capital position, and continue to pursue measures such as reducing operating expenses through streamlining production processes and costs, negotiating extended payment terms with suppliers, and optimizing inventory management such as through developing more detailed and accurate sales forecasts as our volume of sales data increases with time and business scale. Going forward, our continued business and profit growth, combined with continual optimizations in our working capital is expected to generate increasing positive net operating cash, which will provide the additional internal resources to fund our business growth, while we may continue to supplement short term business needs through external funding sources, including bank loans and future equity or debt financing as needed.
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– 14 – Borrowings Our interest-bearing bank borrowings represent bank loans from commercial banks in Chinese mainland, which are used for plant construction, equipment purchases, and working capital. Our interest-bearing bank borrowings increased from RMB1,720 million as of December 31, 2025 to RMB3,120 million as of June 30, 2026, representing an increase of approximately 81.4%, mainly due to our obtaining additional bank loans for working capital purposes to support the rapid expansion of our business. The structure of the Group’s borrowings as of 30 June 2026 is summarised below: As at 30 June 2026 Effective interest rate (%) Maturity RMB'000 (Unaudited) Current Bank loans — unsecured 2.4–2.6 On demand 35,930 Bank loans — unsecured 1.6–3.0 2026–2027 2,659,144 Subtotal 2,695,074 Non-current Bank loans — secured 3.0 2033 121,330 Bank loans — unsecured 2.3–3.0 2027–2034 303,431 Subtotal 424,761 Total 3,119,835 Significant Investments The Group did not make or hold any significant investments (including any investment in an investee company) with a value of 5% or more of the Group’s total assets as of June 30, 2026. Material Acquisitions and Disposals The Group did not have any material acquisitions or disposals of subsidiaries, consolidated affiliated entities, associates or joint ventures during the six months ended June 30, 2026.
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– 15 – Pledge of Assets As of June 30, 2026, the Group had pledged properties and right-of-use assets totalling RMB131 million (December 31, 2025: Nil) to secure the Group’s borrowings totalling RMB121 million (December 31, 2025: Nil). Future Plans for Material Investments or Capital Asset Investments The Group did not have detailed future plans for material investments or capital assets investments as of June 30, 2026, save as disclosed in this announcement. Gearing Ratio As of June 30, 2026, the Company’s gearing ratio (equals total liabilities divided by total assets, in percentage) was 49.7% (December 31, 2025: 55.2%). Foreign Exchange Risk Exposure Foreign exchange risk arises when future commercial transactions or recognized assets and liabilities are denominated in a currency that is not the respective functional currency of our subsidiaries. Our functional currency outside Chinese mainland is mainly USD, EUR and AUD whereas the functional currency of the subsidiaries operating in Chinese mainland is RMB. Taking into account the potential USD, EUR and AUD exchange rate fluctuations, the Group will continue to monitor its foreign exchange exposure and take prudent measures to reduce its foreign exchange risk. For the six months ended June 30, 2026, the Group has maintained certain hedging policies, such as leveraging certain derivative instruments for hedging purposes. The derivative financial instruments mainly include forward currency contracts and foreign currency options. As of June 30, 2026, the derivative financial liabilities amounted to nil, while the derivative financial assets amounted to RMB78.9 million. Contingent Liabilities The Company had no material contingent liabilities as of June 30, 2026. Capital Commitment As of June 30, 2026, capital commitment of the Company was RMB578.8 million (December 31, 2025: RMB218.9 million), mainly related to property, plant and equipment.
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– 16 – Employees and Remuneration As of June 30, 2026, the Company had a total of 2,550 full-time employees (December 31, 2025: 1,597). The total employee remuneration expenses recognised in profit for the six months ended June 30, 2026, including share-based compensation expenses, were RMB822.4 million, as compared to RMB523.7 million for the six months ended June 30, 2025. Our employees’ remuneration mainly comprises salaries, bonuses, social security contributions and other employee benefits. We participate in housing fund and various employee social security schemes organized by applicable local municipal and provincial governments, including housing, pension, medical, maternity, work-related injury and unemployment benefit plans, under which we make contributions at specified percentages of the salaries of our employees. We also purchase commercial health insurance for our employees. We maintain high standards in recruitment with strict procedures to ensure the quality of new hires and provide specialized training tailored to the needs of our employees in different departments. We also conduct periodic performance reviews for our employees, and their remuneration is performance-based. We have also adopted the Pre-IPO Employee Incentive Scheme and the SM Incentive Scheme. For more details on the Pre-IPO Employee Incentive Scheme and the SM Incentive Scheme, please refer to the Prospectus. CORPORATE GOVERNANCE Compliance with Laws and Regulation During the Reporting Period, the Company’s business had complied with the relevant laws and regulations in all material aspects and had not seriously breached or violated any laws and regulations applicable to the Company which would result in a material and adverse impact on the business or financial condition of the Company as a whole. Compliance with the Corporate Governance Code The Company is committed to maintaining and promoting stringent corporate governance standards. The Company aims to achieve high standards of corporate governance which are crucial to the Company’s development and safeguard the interests of the Shareholders. The principles of the Company’s corporate governance are to promote effective internal control measures and to enhance the transparency and accountability of the Board to all Shareholders. The Company has complied with all applicable code provisions as set out in the Corporate Governance Code as its own code of corporate governance practices since the Listing Date and up to June 30, 2026, save for the following:
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– 17 – Pursuant to code provision C.2.1 of Part 2 of the Corporate Governance Code, companies listed on the Stock Exchange are expected to comply with, but may choose to deviate from, the requirement that the roles of chairman and chief executive should be separate and should not be performed by the same individual. We do not have a separate chairman and chief executive, since Mr. Xu Yingtong, our chairman of the Board, an executive Director and the Chief Executive Officer, currently performs these two roles. Mr. Xu is the founder of our Company and has extensive experience in the industry of our business. The Board believes that vesting the roles of both chairman and chief executive in the same person has the benefit of ensuring consistent leadership within the Group and enables more effective and efficient overall strategic planning for the Group. The Board considers that the balance of power and authority for the present arrangement will not be impaired, given that: (i) decision to be made by our Board requires approval by at least a majority of our Directors; (ii) Mr. Xu and the other Directors are aware of and undertake to fulfil their fiduciary duties as Directors, which require, among other things, that he acts for the benefit and in the best interests of our Company and will make decisions for our Company accordingly; (iii) the balance of power and authority is ensured by the operations of the Board, including three independent non-executive Directors, and has a fairly strong independence element; and (iv) the overall strategic and other key business, financial, and operational policies of our Company are made collectively after thorough discussion at both Board, and senior management levels. The Board will continue to review and consider splitting the roles of chairman and chief executive of the Company if and when it is appropriate taking into account the circumstances of the Group as a whole. Model Code for Securities Transactions The Company has adopted a code of conduct regarding Directors’ securities transactions on terms as required under the Model Code for Securities Transactions by Directors of Listed Issuers as set out in Appendix C3 to the Listing Rules as a code of conduct for securities transactions by the Directors of the Company. Specific enquiry has been made of all Directors and the relevant employees and they have confirmed that they have complied with the Model Code since the Listing Date and up to June 30, 2026. In addition, the Company is not aware of any non-compliance of the Model Code by the senior management of the Group since the Listing Date and up to June 30, 2026.
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– 18 – Audit Committee The Company has established the Audit Committee with written terms of reference in compliance with Rule 3.21 of the Listing Rules and the Corporate Governance Code. The primary duties of the Audit Committee are to review and supervise the financial reporting process, the risk management and internal controls systems of the Group, to review connected transactions and to advise the Board. The Audit Committee comprises two independent non-executive Directors, namely, Ms. Chen Jijin and Mr. Lin Jinwu and one non-executive Director, namely, Ms. Yang Ting. The chairman of the Audit Committee is Ms. Chen Jijin who possesses the appropriate professional qualification, and accounting and financial management expertise as required under Rules 3.10(2) and 3.21 of the Listing Rules. Review of the Unaudited Interim Condensed Consolidated Financial Statements The Audit Committee, together with the management of the Company, have reviewed the unaudited interim results of the Group for the six months ended June 30, 2026 and this announcement and agreed with the accounting treatment adopted by the Company. The Audit Committee considered that these interim results are in compliance with the relevant accounting standards, laws and regulations, and appropriate disclosures have been duly made. The Audit Committee has also discussed matters with respect to the accounting policies and practices adopted by the Company and internal control with senior management of the Company. SCOPE OF WORK OF ERNST & YOUNG The figures in respect of the Group’s condensed consolidated statement of financial position as of June 30, 2026, the condensed consolidated statement of profit or loss and other comprehensive income, and the related notes thereto for the period then ended as set out in the preliminary announcement have been extracted from the Group’s unaudited condensed consolidated financial statements for the period, which has been reviewed by the Group’s auditor, Ernst & Young in accordance with Hong Kong Standards on Review Engagements 2410 “Review of Interim Financial Information Performed by the Independent Auditor of the Entity” issued by the Hong Kong Institute of Certified Public Accountants. OTHER INFORMATION Purchase, Sale or Redemption of the Company’s Listed Securities or Sale of Treasury Shares Save for the Company’s initial public offering as described in the Prospectus and the additional 2,036,000 H Shares allotted and issued on May 18, 2026 as a result of the full exercise of the over-allotment option on May 13, 2026, neither the Company nor any of its subsidiaries purchased, sold or redeemed any of the Company’s securities listed on the Hong Kong Stock Exchange or sold any treasury Shares (as defined under the Listing Rules) during the period from the Listing Date up to June 30, 2026.
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– 19 – As of June 30, 2026, the Company did not hold any treasury Shares (as defined under the Listing Rules). Use of Proceeds from the Global Offering The H Shares were successfully listed on the Main Board of the Stock Exchange on April 16, 2026. The net proceeds from the Global Offering received by the Company were approximately HK$4,189.9 million after deducting underwriting commissions and listing expenses, which will be utilized for the purposes set out in the Prospectus. As at the date of this announcement, there was no change in the intended use of net proceeds as previously disclosed in the section headed “Future Plans and Use of Proceeds” in the Prospectus. To the extent that net proceeds are not immediately used for the intended use, the Company will place the net proceeds as short-term interest-bearing accounts at licensed commercial banks and/or other authorised financial institutions (as defined under the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong), or applicable laws and regulations in other jurisdictions). The over-allotment option described in the Prospectus was fully exercised on May 13, 2026 in respect of an aggregate of 2,036,000 H Shares, representing approximately 15% of the total number of H Shares initially available under the Global Offering before any exercise of the over-allotment option. The additional H Shares were issued and allotted by the Company at HK$324.20 per H Share (exclusive of brokerage of 1.0%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.00565% and AFRC transaction levy of 0.00015%), being the offer price per H Share under the Global Offering. The Company received additional net proceeds of approximately HK$636.9 million from the over-allotment Shares issued and allotted upon the full exercise of the over-allotment Option after deduction of the estimated underwriting fees and commissions and expenses payable by the Company in connection with the Global Offering. The additional net proceeds will be allocated by the Company on a pro rata basis to the purposes as set out in the section headed “Future Plans and Use of Proceeds” in the Prospectus.
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– 20 – The net proceeds of approximately HK$4,826.8 million will be applied in the manner as set out below: Intended use of net proceeds Net proceeds from the Global Offering (including the proceeds from the full exercise of the over-allotment option) Percentage of net proceeds as stated in the Prospectus Utilized net proceeds from the Listing Date to June 30, 2026 Unutilized net proceeds as of June 30, 2026 Expected timeline of full utilization of the net proceeds(1) (HK$ million) (HK$ million) (HK$ million) 1. To further grow our R&D team and upgrade our R&D equipment and technologies 1,834.2 38.0% 22.2 1,812.0 Before December 31, 2029 2. To strengthen our marketing and after-sales services to drive expansion of our global customer base and business coverage 1,544.6 32.0% 3.8 1,540.8 Before December 31, 2029 3. Fo r expansion of production capacity 579.2 12.0% 0.0 579.2 Before December 31, 2029 4. To diversify our product portfolio and expand our C&I ESS solutions 434.4 9.0% 0.0 434.4 Before December 31, 2029 5. Fo r working capital and general corporate purposes(2) 434.4 9.0% 7.1 427.3 Before December 31, 2029 Total 4,826.8 100% 33.1 4,793.7 Notes: (1) The expected timeline for the utilisation of unutilised proceeds represents the Group’s best estimates based on the anticipated market conditions, which may be subject to change in response to current and future market developments. (2) Working capital and other general corporate purposes, including but not limited to payments to suppliers and the settlement of daily operating expenses.
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– 21 – Interim Dividend The Board did not recommend the distribution of an interim dividend for the six months ended June 30, 2026. Material Litigation The Company was not involved in any material litigation or arbitration during the Reporting Period which could have a material and adverse effect on our financial condition or results of operations. The Directors are also not aware of any material litigation or claims that are pending or threatened against the Group during the Reporting Period and up to the date of this announcement which could have a material and adverse effect on our financial condition or results of operations. Events after the Reporting Period The Company is not aware of any material subsequent events from June 30, 2026 to the date of this announcement that may have a material impact on the Company's operating and financial performance that needs to be disclosed.
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– 22 – INTERIM CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME For the six months ended 30 June 2026 Six months ended 30 June Notes 2026 2025 (Unaudited) (Unaudited) RMB’000 RMB’000 Revenue 4 9,873,625 2,733,786 Cost of sales (5,874,629) (1,314,409) Gross profit 3,998,996 1,419,377 Other income and gains 142,196 146,124 Selling and distribution expenses (330,448) (163,361) Administrative expenses (171,900) (244,673) Research and development expenses (371,339) (228,024) Other expenses (129,122) (19,197) Finance costs (30,375) (7,349) Impairment losses on financial assets, net (73,649) (31,990) PROFIT BEFORE TAX 5 3,034,359 870,907 Income tax expense 6 (606,709) (64,302) PROFIT FOR THE PERIOD 2,427,650 806,605 OTHER COMPREHENSIVE (LOSS)/INCOME Other comprehensive (loss)/income that may be reclassified to profit or loss in subsequent periods: Exchange differences on translation of foreign operations (7,574) 4,473 Net other comprehensive (loss)/income that may be reclassified to profit or loss in subsequent periods (7,574) 4,473 OTHER COMPREHENSIVE (LOSS)/INCOME FOR THE PERIOD, NET OF TAX (7,574) 4,473
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– 23 – Six months ended 30 June Note 2026 2025 (Unaudited) (Unaudited) RMB’000 RMB’000 TOTAL COMPREHENSIVE INCOME FOR THE PERIOD 2,420,076 811,078 Profit attributable to: Owners of the Company 2,427,716 806,605 Non-controlling interests (66) — 2,427,650 806,605 Total comprehensive income attributable to: Owners of the Company 2,420,142 811,078 Non-controlling interests (66) — 2,420,076 811,078 EARNINGS PER SHARE ATTRIBUTABLE TO ORDINARY EQUITY HOLDERS OF THE COMPANY Basic and diluted (RMB) 8 10.14 3.50
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– 24 – INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION 30 June 2026 30 June 31 December Notes 2026 2025 (Unaudited) (Audited) RMB’000 RMB’000 NON-CURRENT ASSETS Property, plant and equipment 679,119 461,144 Right-of-use assets 112,338 40,819 Other intangible assets 6,988 1,977 Prepayments 627,488 563,612 Deferred tax assets 384,438 418,234 Total non-current assets 1,810,371 1,485,786 CURRENT ASSETS Inventories 3,403,592 2,143,254 Trade and bills receivables 9 5,385,808 3,162,580 Prepayments, other receivables and other assets 560,925 472,215 Derivative financial instruments 78,889 10,223 Pledged deposits 317,829 54,620 Restricted cash 809 272 Cash and bank balances 8,247,419 1,118,964 Total current assets 17,995,271 6,962,128 CURRENT LIABILITIES Trade payables 10 3,297,436 1,157,928 Other payables and accruals 1,177,103 532,391 Lease liabilities 16,902 13,446 Contract liabilities 1,451,373 629,687 Interest-bearing bank borrowings 2,695,074 1,710,333 Derivative financial instruments — 2 Tax payable 300,602 328,888 Provision 201,297 91,605 Total current liabilities 9,139,787 4,464,280 NET CURRENT ASSETS 8,855,484 2,497,848
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– 25 – 30 June 31 December 2026 2025 (Unaudited) (Audited) RMB’000 RMB’000 TOTAL ASSETS LESS CURRENT LIABILITIES 10,665,855 3,983,634 NON-CURRENT LIABILITIES Interest-bearing bank borrowings 424,761 10,100 Lease liabilities 18,875 11,019 Provision 249,017 171,979 Deferred tax liabilities 12,281 2,550 Total non-current liabilities 704,934 195,648 Net assets 9,960,921 3,787,986 EQUITY Equity attributable to owners of the Company Share capital 24,883 23,322 Reserves 9,911,604 3,764,664 9,936,487 3,787,986 Non-controlling interests 24,434 — Total equity 9,960,921 3,787,986
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– 26 – NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL INFORMATION 30 June 2026 1. BASIS OF PREPARATION The interim condensed consolidated financial information for the six months ended 30 June 2026 has been prepared in accordance with IAS 34 Interim Financial Reporting. Sigenergy Technology Co., Ltd. (the “ Company”) and its subsidiaries (collectively, the “ Group”) has prepared the financial statements on the basis that it will continue to operate as a going concern. The interim condensed consolidated financial information does not include all the information and disclosures required for a complete set of financial statements prepared in accordance with IFRS Accounting Standards and should be read in conjunction with the Group’s Historical Financial Information as set out in the accountants’ report included in Appendix I to the prospectus of the Company dated on 8 April 2026. 2. CHANGES IN ACCOUNTING POLICIES AND DISCLOSURES The accounting policies adopted in the preparation of the interim condensed consolidated financial information are consistent with those applied in the preparation of the Group’s Historical Financial Information, except for the adoption of the following amended IFRS Accounting Standards for the first time for the current period’s financial information. Amendments to IFRS 9 and IFRS 7 Amendments to the Classification and Measurement of Financial Instruments Amendments to IFRS 9 and IFRS 7 Contracts Referencing Nature-dependent Electricity Annual Improvements to IFRS Accounting Standards — Volume 11 Amendments to IFRS 1, IFRS 7, IFRS 9, IFRS 10 and IAS 7
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– 27 – The nature and impact of the amended IFRS Accounting Standards are described below: (a) Amendments to IFRS 9 and IFRS 7 Amendments to the Classification and Measurement of Financial Instruments clarify that a financial asset is derecognised when the entity’s rights to the contractual cash flows expire or are transferred, while a financial liability is derecognised on the settlement date. The amendments introduce an accounting policy option to derecognise a financial liability that is settled through an electronic payment system before the settlement date if specified criteria are met. The amendments clarify how to assess the contractual cash flow characteristics of financial assets with environmental, social and governance and other similar contingent features. Moreover, the amendments clarify the requirements for classifying financial assets with non-recourse features and contractually linked instruments. The amendments also include additional disclosures for investments in equity instruments designated at fair value through other comprehensive income and financial instruments with contingent features. Since the Group’s accounting policy for the derecognition of financial assets and liabilities in prior years aligned with the amendments and the Group did not have the financial assets that were addressed by the amendments, the amendments did not have any impact on the interim condensed consolidated financial information. The change in accounting policy will be reflected in the Group’s consolidated financial statements for the year ending 31 December 2026. (b) Amendments to IFRS 9 and IFRS 7 Contracts Referencing Nature-dependent Electricity clarify the application of the “own-use” requirements for in-scope contracts and amend the designation requirements for a hedged item in a cash flow hedging relationship for in-scope contracts. The amendments also include additional disclosures that enable users of financial statements to understand the effects these contracts have on an entity’s financial performance and future cash flows. As the Group did not have any contracts that are in the scope of the amendments, the amendments did not have any impact on the interim condensed consolidated financial information. (c) Annual Improvements to IFRS Accounting Standards — Volume 11 set out narrow scope amendments to IFRS 1, IFRS 7 (and the accompanying Guidance on implementing IFRS 7), IFRS 9, IFRS 10 and IAS 7. The amendments include clarifications, simplifications, corrections or changes to improve consistency in the corresponding IFRS Accounting Standards. The amendments did not have any impact on the interim condensed consolidated financial information.
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– 28 – 3. OPERATING SEGMENT INFORMATION For management purposes, the Group is not organised into business units based on their products and services and only has one reportable operating segment. Since this is the only reportable operating segment of the Group, no further operating segment analysis thereof is presented. Geographical information (a) Revenue from external customers For the six months ended 30 June 2026 2025 RMB’000 RMB’000 (Unaudited) (Unaudited) Europe 4,179,347 1,670,914 Asia-Pacific 3,894,238 720,014 Chinese mainland 1,298,540 24,997 Africa 375,763 232,602 Others* 125,737 85,259 Total revenue 9,873,625 2,733,786 * Comprising Middle East and Central Asia, Latin America and Northern America. The revenue information above is based on the locations of the customers. (b) Non-current assets No geographical information related to non-current assets is presented as nearly all non-current assets of the Group are located in Chinese mainland.
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– 29 – 4. REVENUE Disaggregated revenue information for revenue from contracts with customers For the six months ended 30 June 2026 2025 RMB’000 RMB’000 (Unaudited) (Unaudited) Types of goods Sigen energy storage series 9,296,494 2,532,312 Gateway 358,254 127,288 Others 218,877 74,186 Total 9,873,625 2,733,786 Timing of revenue recognition Goods transferred at a point in time 9,873,625 2,733,786
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– 30 – 5. PROFIT BEFORE TAX The Group’s profit before tax is arrived at after charging/(crediting): For the six months ended 30 June 2026 2025 RMB’000 RMB’000 (Unaudited) (Unaudited) Cost of inventories sold 5,614,463 1,246,906 (Reversal of write-down of)/write-down of inventories to net realisable value (492) 2,203 Additional product warranty provision 164,550 56,496 Depreciation of property, plant and equipment 47,053 15,926 Depreciation of right-of-use assets 6,502 7,621 Amortisation of other intangible assets 779 115 Research and development costs 75,830 39,590 Expenses relating to short-term leases and leases of low-value assets 4,929 572 Fair value (gains)/losses, net: Derivative financial instruments (109,300) 19,181 Listing expenses 13,535 16,086 Outsourcing and labour costs 41,546 16,789 Employees benefit expense (including directors’, chief executive’s and supervisors’ remuneration, and excluding staff costs capitalised into cost of inventories sold) Wages and salaries 372,842 219,249 Pension scheme contributions and social welfare 30,808 12,980 Equity-settled share-based payment expenses 42,869 229,161 Total 446,519 461,390 Impairment of financial assets, net: Impairment of trade receivables, net 73,513 31,875 Impairment of financial assets included in prepayments, other receivables and other assets, net 136 115 Total 73,649 31,990 Foreign exchange differences, net 128,103 (142,423)
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– 31 – 6. INCOME TAX Chinese mainland The subsidiaries incorporated in Chinese mainland are subject to tax at the statutory rate of 25% or a preferential rate of 15% where applicable, on their estimated taxable profits for the year based on the existing legislations, interpretations and practices in respect thereof. Corporate income tax in other jurisdictions The Group’s tax provision in respect of other jurisdictions has been calculated at the applicable tax rates in accordance with the prevailing practices of the jurisdictions in which the Group’s subsidiaries operate. The income tax expense of the Group for the six months ended 30 June 2026 and 2025 is analysed as follows: For the six months ended 30 June 2026 2025 RMB’000 RMB’000 (Unaudited) (Unaudited) Current income tax expense 563,182 197,439 Deferred income tax expense 43,527 (133,137) Total 606,709 64,302 Pillar Two income taxes The Group will formally become subject to the Pillar Two rules on 1 January 2027. The Group is assessing its potential exposure based on the information available regarding the financial performance of the Group in 2025 and in the first half year of 2026. As such, it may not be entirely representative of future circumstances.
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– 32 – 7. DIVIDENDS For the six months ended 30 June 2026 2025 RMB’000 RMB’000 (Unaudited) (Unaudited) Final declared — RMB23.46 (2025: Nil) per 10 shares 583,762 — On 29 June 2026, the board of directors declared a final dividend of RMB23.46 (six months ended 30 June 2025: Nil) per 10 shares, amounting to a total of approximately RMB583,762,000 (six months ended 30 June 2025: Nil). 8. EARNINGS PER SHARE ATTRIBUTABLE TO ORDINARY EQUITY HOLDERS OF THE COMPANY The calculation of the basic earnings per share amount is based on the profit for the period attributable to ordinary equity holders of the Company, and the weighted average numbers of ordinary shares outstanding during the period. The Group had no potentially dilutive ordinary shares in issue during the period ended 30 June 2026 and 2025. The calculation of basic earnings per share is based on: 2026 2025 RMB’000 RMB’000 (Unaudited) (Unaudited) Earnings Profit attributable to ordinary equity holders of the Company (RMB’000) 2,427,716 806,605 Shares Weighted average number of ordinary shares outstanding during the period (’000) 239,418 230,195 Earnings per share Basic and diluted (RMB) 10.14 3.50 The weighted average number of ordinary shares in issue for the six months ended 30 June 2025 was determined assuming that the shares were split on a one for ten basis upon the Listing of the shares of the Company on the Main Board of the Hong Kong Stock Exchange.
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– 33 – 9. TRADE AND BILLS RECEIVABLES An ageing analysis of trade receivables as at the end of the reporting period, based on the transaction date and net of loss allowance, is as follows: 30 June 2026 31 December 2025 RMB’000 RMB’000 (Unaudited) (Audited) Current 4,338,743 2,422,502 Within 3 months 802,941 691,312 Over 3 months and within 6 months 183,841 11,434 Over 6 months and within 9 months 13,021 3,340 Over 9 months and within 1 year 1,127 762 Over 1 year and within 2 years 4,044 3,129 Over 2 years 47 — Total 5,343,764 3,132,479 Bills receivables and bank acceptance notes: 30 June 2026 31 December 2025 RMB’000 RMB’000 (Unaudited) (Audited) Bills receivables 42,044 18,019 Bank acceptance notes — 12,082 Total 42,044 30,101 As of 30 June 2026 and 31 December 2025, all bills receivables are aged within six months and none of the bills receivables was overdue. 10. TRADE PAYABLES An ageing analysis of trade payables as at the end of the reporting period, based on the billing date, is as follows: 30 June 2026 31 December 2025 RMB’000 RMB’000 (Unaudited) (Audited) Within 1 year 3,297,247 1,157,579 Over 1 year 189 349 Total 3,297,436 1,157,928
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– 34 – PUBLICATION OF THE INTERIM RESULTS ANNOUNCEMENT AND 2026 INTERIM REPORT ON THE WEBSITES OF THE STOCK EXCHANGE AND THE COMPANY This interim results announcement is published on the websites of the Stock Exchange (www.hkexnews.hk) and the Company (www.sigenergy.com) and the 2026 interim report will be despatched to the shareholders of the Company in a manner which the Shareholders have selected to receive corporate communications and will be published on the respective websites of the Stock Exchange and the Company in due course. APPRECIATION The Board would like to express its sincere gratitude to the Shareholders, management team, employees, business partners, and customers of the Group for their support and contribution to the Group. DEFINITIONS AND GLOSSARY “AFRC” the Accounting and Financial Reporting Council of Hong Kong “Articles of Association” or “Articles” the articles of association of our Company “Audit Committee” the audit committee of the Board “Board” or “Board of Directors” or “our Board” the board of Directors “China” or “PRC” or “mainland China” the People’s Republic of China which, for the purpose of this announcement and for geographical reference only, excludes Hong Kong, the Macao Special Administrative Region of the PRC and Taiwan “Company,” “our Company” or “the Company” Sigenergy Technology Co., Ltd. (อঐ๕( ɪऎ)ٰ ʮ̡), a limited liability company established in the PRC on May 24, 2022 and converted into a joint stock limited liability company in the PRC on January 13, 2025 “Controlling Shareholder(s)” has the meaning ascribed thereto under the Listing Rules “Corporate Governance Code” the Corporate Governance Code set out in Appendix C1 to the Listing Rules
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– 35 – “CTP” cell-to-pack, a battery technology that integrates cells directly into the battery pack without using individual modules “DC” direct current, an electric current which flows only in one direction “Director(s)” the director(s) of our Company “EV AC charger” a charging device that supplies alternating current power to electric vehicles, requiring the vehicle’s onboard converter to transform it into usable energy “EV DC charger” a charging device that directly supplies high-power electricity to electric vehicles “Global Offering” has the meaning ascribed to it by the Prospectus “Group,” “our Group,” “we” or “us” our Company and its subsidiaries, or any one of them as the context may require, and where the context requires, the businesses operated by our Company and/or its subsidiaries and their predecessors (if any) “H Share(s)” overseas listed foreign share(s) in the share capital of our Company, which are traded in HK dollars and listed on the Stock Exchange, with a nominal value of RMB0.1 each “H Share Registrar” Tricor Investor Services Limited “Hong Kong” or “HK” the Hong Kong Special Administrative Region of the PRC “Hong Kong dollars” or “HK dollars” or “HK$” Hong Kong dollars, the lawful currency of Hong Kong “Hong Kong Stock Exchange” or “Stock Exchange” The Stock Exchange of Hong Kong Limited “IFRS Accounting Standards” the International Financial Reporting Standards, which include standards, amendments and interpretations promulgated by IASB and the International Accounting Standards (IAS) and interpretations issued by the International Accounting Standards Board (“IASB”)
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– 36 – “Listing” listing of the H Shares on the Main Board of the Stock Exchange “Listing Date” April 16, 2026, the date on which our H Shares are listed and from which dealings therein are permitted to take place on the Stock Exchange “Listing Rules” the Rules Governing the Listing of Securities on The Stock Exchange, as amended, supplemented or otherwise modified from time to time “Main Board” the stock exchange (excluding the option market) operated by the Stock Exchange which is independent from and operated in parallel with Growth Enterprise Market of the Stock Exchange “Model Code” the Model Code for Securities Transactions by Directors of Listed Issuers as set out in Appendix C3 to the Listing Rules “Mr. Xu” Mr. Xu Yingtong (ഁ), our chairman of the Board, an executive Director, Chief Executive Officer and our ultimate Controlling Shareholder “Mr. Zhang” Mr. Zhang Xianmiao (ੵ↿), an executive Director and the president of our Company “Nomination Committee” the nomination committee of the Board “PCS” power conversion system, a system that converts electrical energy between different forms, such as alternating current and direct current, enabling efficient energy transfer and integration in energy storage or renewable energy systems “Pre-IPO Employee Incentive Scheme” the pre-IPO employee incentive scheme of our Company approved and adopted in September 2022, and amended in December 2024, as amended from time to time, a summary of the principal terms of which is set forth in the section headed “Statutory and General Information –5. Pre-IPO Employee Incentive Scheme” in Appendix IV of the Prospectus “Prospectus” the prospectus of the Company dated April 8, 2026
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– 37 – “PV” photovoltaic, a technology that converts sunlight directly into electricity using solar cells “Reporting Period” for the six months ended June 30, 2026 “Remuneration Committee” the remuneration committee of the Board “RMB” or “Renminbi” Renminbi, the lawful currency of the PRC “Share(s)” ordinary share(s) in the share capital of our Company, including both Unlisted Shares and H Shares, with a nominal value of RMB0.1 each “Shareholder(s)” holder(s) of the Share(s) “Stock Exchange” The Stock Exchange of Hong Kong Limited “substantial shareholder(s)” has the meaning ascribed thereto under the Listing Rules “Unlisted Share(s)” ordinary share(s) issued by our Company, which is/are not listed on any stock exchange, with a nominal value of RMB0.1 each “U.S.” or “United States” or “USA” the United States of America, its territories, its possessions and all areas subject to its jurisdiction “U.S. dollar” or “US$” or “USD” United States dollar, the lawful currency of the United States “V2X” vehicle-to-everything, a communication technology that enables vehicles to interact with other vehicles, infrastructure, networks, and devices “VPP” virtual power plant, a system that aggregates and manages distributed energy resources, such as solar panels, batteries, and wind turbines, to operate as a single power plant “%” per cent
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– 38 – For ease of reference, the names of Chinese laws and regulations, governmental authorities, institutions, natural persons or other entities (including our subsidiary) have been included in this announcement in both the Chinese and English languages and in the event of any inconsistency, the Chinese versions shall prevail. By order of the Board Sigenergy Technology Co., Ltd. Mr. Xu Yingtong Chairman of the Board, Executive Director and Chief Executive Officer Hong Kong, August 24, 2026 As at the date of this announcement, the Board comprises: (i) Mr. Xu Yingtong and Mr. Zhang Xianmiao as executive Directors; (ii) Mr. Sun Guoqing, Mr. Wang Lin and Ms. Yang Ting as non-executive Directors; and (iii) Ms. Ng Wing Yan Claudia, Mr. Lin Jinwu and Ms. Chen Jijin as independent non-executive Directors.