Announcement on Strategic Investment Adjustment And European Market Operations

Announcement on Strategic Investment Adjustment and European Market Operations

Date: 02-04-2026

To all partners and investors:

To keep our partners and investors accurately informed of our latest business developments in Europe, Suzhou COREY Power Supply Technology Co., Ltd. (hereinafter referred to as "COREY POWER"), hereby issues the following announcement regarding our strategic adjustments in the European market:

1. Adjustments to ODI Status and M&A Plans 

Due to the fact that the progress and approved quota of our Outbound Direct Investment (ODI) application fell short of expectations, COREY POWER was unable to complete the acquisition of COREY EUROPE SPÓŁKA AKCYJNA (PLTRMPR00017), formally known as TERMO2POWER Spółka Akcyjna, (hereinafter referred to as "T2P"), as originally planned. Following a formal discussion by the Board of Directors, it has been decided to terminate the acquisition process. Furthermore, Mr. Jinming Qian and Ms. Juan Fan have formally resigned from their positions on COREY EUROPE SPÓŁKA AKCYJNA’s Supervisory Board. Accordingly, T2P will proceed with changing the corporate name and updating the board composition as soon as possible, in line with its new strategic direction.

2. Continued Support and Best Wishes to our Polish Partners 

Despite the termination of the M&A plan, we will maintain a friendly partnership with T2P and continue to provide technical and product support as always. We are pleased to learn of their plans to launch an independent brand in 2026, and we sincerely wish them rapid growth and immense success in the Polish market.

3. European Market Strategy: Stock Availability and Fast Delivery 

COREY POWER remains fully committed to its localization strategy in Europe, including the expansion of our sales network and the establishment of localized technical service teams. Notably, we have established a professional BESS storage hub in Rotterdam, Netherlands, with ready stock available to ensure rapid delivery across Europe and to address customer needs more efficiently. Our mission is to leverage technological innovation to ensure that Battery Energy Storage Systems facilitate the integration of green energy, stabilize power grids, and deliver long-term, reliable profitability for our clients.

Business Inquiries: We welcome inquiries from clients interested in BESS solutions and products. We also invite potential partners interested in regional collaboration to contact us to shape green energy future and power long-term value through professional BESS solutions.

Suzhou COREY Power Supply Technology Co., Ltd. 

The Board of Directors