Summary of Key Points Core Viewpoint - The announcement details the signing of a "Maximum Pledge Contract" by Jiangmen Keheng Industrial Co., Ltd. and its subsidiaries to secure supply chain procurement financing from Gree Supply Chain Management Co., Ltd. with a total credit limit of RMB 450 million [1][2]. Group 1: Basic Information - Jiangmen Keheng Industrial Co., Ltd. and its wholly-owned subsidiary, Yingde Keheng New Energy Technology Co., Ltd., signed a "Cooperation Framework Agreement" with Gree Supply Chain to conduct supply chain procurement business [1]. - Gree Supply Chain will provide a revolving procurement credit limit of RMB 450 million to the company and Yingde Keheng, subject to internal approval [1][2]. Group 2: Pledge Details - The "Maximum Pledge Contract" includes a pledge of accounts receivable as collateral for the supply services provided by Gree Supply Chain [2][3]. - The maximum guarantee amount under the contract is RMB 450 million, covering all debts owed to Gree Supply Chain from January 23, 2025, to December 31, 2026 [5][6]. Group 3: Pledge Scope and Obligations - The pledged assets include accounts receivable and related rights, such as principal, interest, penalties, and costs incurred in enforcing the debt [4][7]. - The company is obligated to report quarterly on the value of pledged assets and provide additional collateral if the value decreases [5][6]. Group 4: Documentation - Key documents related to this transaction include the "Cooperation Framework Agreement" and the "Maximum Pledge Contract" [8].

Core Viewpoint - The announcement by Keheng Co., Ltd. regarding the signing of a cooperation framework agreement with Gree Supply Chain Management Co., Ltd. aims to enhance supply chain procurement capabilities for the company and its subsidiary, Yingde Keheng New Energy Technology Co., Ltd. [2] Group 1 - On January 15, 2026, Keheng Co., Ltd. held its sixth board of directors' audit committee meeting and approved the proposal for signing and related transactions [2] - The cooperation framework agreement stipulates that Gree Supply Chain will provide a total procurement business quota of 450 million RMB to Keheng Co., Ltd. and Yingde Keheng, which is a revolving quota subject to internal approval [2] - Gree Supply Chain is a wholly-owned subsidiary of Gree Group, which was an indirect controlling shareholder of Keheng Co., Ltd. in the past twelve months, making this transaction a related party transaction [2]