Zhejiang Supcon Technology Co.Ltd(688777) : Zhejiang Supcon Technology Co.Ltd(688777) announcement on the reduction of shares held by shareholders holding more than 5% for more than half of the time and the progress of reduction

Securities code: Zhejiang Supcon Technology Co.Ltd(688777) securities abbreviation: Zhejiang Supcon Technology Co.Ltd(688777) Announcement No.: 2022027 Zhejiang Supcon Technology Co.Ltd(688777)

Announcement on the reduction of shares held by shareholders holding more than 5% for more than half and the progress of reduction

The board of directors, all directors and relevant shareholders of the company guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and bear legal responsibility for the authenticity, accuracy and integrity of its contents according to law. Important content tips:

Basic information of shareholding of major shareholders

Before the implementation of the reduction plan, Zhejiang Chint Electrics Co.Ltd(601877) (hereinafter referred to as " Zhejiang Chint Electrics Co.Ltd(601877) ") directly held 36509375 shares of Zhejiang Supcon Technology Co.Ltd(688777) (hereinafter referred to as "the company" or " Zhejiang Supcon Technology Co.Ltd(688777) "), accounting for 7.39% of the total share capital of the company at that time. The above shares are from the shares obtained before the company's IPO, and the restrictions on sale have been lifted and listed for circulation since November 24, 2021.

Progress of share reduction plan

Zhejiang Supcon Technology Co.Ltd(688777) (hereinafter referred to as " Zhejiang Supcon Technology Co.Ltd(688777) " or "the company") disclosed on the website of Shanghai Stock Exchange on December 18, 2021 the announcement on the plan of reducing shares held by shareholders holding more than 5% of Zhejiang Supcon Technology Co.Ltd(688777) shares (Announcement No.: 2021056). The company's shareholder Zhejiang Chint Electrics Co.Ltd(601877) (hereinafter referred to as " Zhejiang Chint Electrics Co.Ltd(601877) ") plans to reduce its total shares of the company through centralized bidding trading and block trading, The reduction ratio shall not exceed 6% of the total shares of the company. Among them, the reduction of the company's shares through centralized bidding shall not exceed 9881680 shares, not more than 2% of the total shares of the company, and the reduction of the company's shares through block trading shall not exceed 19763360 shares, not more than 4% of the total shares of the company.

On April 11, 2022, the company received the notification letter on the progress of Zhejiang Supcon Technology Co.Ltd(688777) share reduction issued by Zhejiang Chint Electrics Co.Ltd(601877) issued by (hereinafter referred to as "the notification letter"). As of the issuance date of this notification letter, the time of this reduction plan has been more than half, and the reduction plan has not been implemented yet.

1、 Basic information of the reducing entity before the reduction

Shareholding number shareholding ratio

Shareholder name shareholder identity current shareholding source

(stock) cases

Zhejiang Chint Electrics Co.Ltd(601877) 5% or more non first 365093757.39% acquired before IPO: 36509375 major shareholders

Note: the above "shareholding ratio" refers to the number of Zhejiang Chint Electrics Co.Ltd(601877) shares, accounting for 494084000 of the total share capital of the company as of December 18, 2021

Proportion of shares.

The above reduction subjects have no concerted action.

2、 Implementation progress of share reduction plan

(I) major shareholders and directors, supervisors and senior executives disclose the implementation progress of the reduction plan for the following reasons:

The reduction time is more than half

Shareholder name reduction number reduction ratio reduction price reduction total current holdings current holdings during reduction method range (yuan amount, number of shares, share proportion (shares) / share) (yuan) (share)

Chint 2892, 0.582% 2022 / 1 / 12 centralized bidding 66.82 - 216,21236804.766% device 915 ~ transaction 82.651274, 000

2022/4/7 12

Note 1: the above "proportion" refers to the proportion of Zhejiang Chint Electrics Co.Ltd(601877) shares in the company's total share capital of 496823000 shares as of the disclosure date of this announcement

proportion.

Note 2: Zhejiang Chint Electrics Co.Ltd(601877) will reduce its holdings through block trading from December 23, 2021 to February 21, 2022

9936460 shares, accounting for 2.000% of the company's total share capital of 496823000 shares as of the disclosure date of this announcement.

Note 3: the above "current holding quantity" is after Zhejiang Chint Electrics Co.Ltd(601877) through centralized bidding transaction and block transaction

Number of shares held.

(II) whether the reduction is consistent with the plans and commitments previously disclosed by major shareholders

√ yes □ no

(III) whether the listed company has disclosed major issues such as high transfer or planning merger and reorganization within the reduction time period

□ yes √ no

(IV) impact of this reduction on the company

The implementation of this share reduction plan will not lead to the change of the company's control and will not affect the company's governance structure

Equity structure and going concern.

(V) other matters required by the exchange

None. 3、 Relevant risk tips (I) uncertain risks of the implementation of the reduction plan, such as the preconditions and restrictive conditions for the implementation of the plan, as well as the specific conditions for the achievement or elimination of relevant conditions, etc

Zhejiang Chint Electrics Co.Ltd(601877) will decide whether to implement this reduction plan according to market conditions, the company's share price and other factors. Therefore, there are uncertainties in the implementation of this reduction plan, such as reduction time, reduction quantity and reduction price. Please pay attention to the relevant risks. The reduction plan will not have an impact on corporate governance and sustainable operation. (II) whether the implementation of the share reduction plan will lead to the risk of change of control of the listed company

□ yes √ no (III) other risks

The relevant shareholders of the share reduction plan will strictly comply with the requirements of relevant laws, regulations and normative documents, such as the securities law of the people's Republic of China, the Listing Rules of the science and Innovation Board of Shanghai Stock Exchange, several provisions on the reduction of shares by shareholders, directors, supervisors and senior managers of listed companies, and the implementation rules for the reduction of shares by shareholders, directors, supervisors and senior managers of listed companies of Shanghai Stock Exchange, And fulfill the obligation of information disclosure in time. Please invest rationally and pay attention to investment risks.

It is hereby announced.

Zhejiang Supcon Technology Co.Ltd(688777) board of directors April 12, 2022

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