Guilin Power Capacitor Co., Ltd.'s 2025 Annual Summary and Commendation, as well as the 2026 Spring Festival Annual Meeting, have successfully concluded with the theme of

On January 29, 2026, Guilin Power Capacitor Co., Ltd. (hereinafter referred to as "Guirong Company") held the 2025 Work Summary and Commendation Conference and 2026 Spring Festival Annual Meeting with the theme of "Gathering Together, Expanding the New Bureau, Diligence, and Shining the New Chapter" at the Shangri La Hotel in Guilin. More than 360 people, including company leaders, cadres, employees, and invited guests, gathered together to participate in the grand event, review past experiences, and look forward to the future development blueprint.

（Meeting site photos）

Time Trail · Inspiring Progress

As the curtain of the conference slowly opened, all attendees first watched the video "Crafting Dreams with Ingenuity, Advancing towards a New Journey of Excellence with Hard Work - Tribute to the Guirong People who Forge Ahead" for the year 2025. Looking back at the journey of 2025, as the final year of the 14th Five Year Plan, Guirong faces numerous challenges. This year, we not only defended our main position, but also honed our resilience in the rapids. Our order acquisition in market development, incremental breakthroughs in technological innovation, continuous improvement in operational efficiency, and solid steps in compliance management together constitute the most solid answer sheet for 2025. For 2025, we are grateful for the perseverance of every struggler. It is the professionalism and responsibility of every Guirong person in their respective positions that have converged into the solid strength of the company. On the journey of 2025, we water our dreams with sweat and measure time with our footsteps! The horn of 2026 blows - let us break through the wind and move forward with a running posture, using our fighting hands to support the sunrise!

（Reviewing the Major Events of Guirong Company in 2025）

Continuing the past and opening up the future, forging ahead, and composing a new chapter

Following that, Mr. Wang Yi, the General Manager of the company, released the "Guirong Company 2025 Work Summary and 2026 Business Plan". Looking back on 2025, under the correct leadership of the company's shareholders' meeting and board of directors, the management team led all employees to follow the company's long-term development strategy and annual business plan, with the development direction of "adhering to the original intention, forging new horizons, and shaping the future", closely focusing on the business policy of "market technology breakthrough, quality improvement and solid foundation; compliant operation and stable growth, continuous learning and strong thinking", achieving the dual engines of technological innovation and market cultivation, dual wheel drive, and steady progress; Strictly adhere to quality standards and build a solid foundation for development; Adhere to a prudent business strategy and implement compliant operations in practice; Always maintain a passion for learning and resonate with the rhythm of the times. In the new year, 2026 serves as the starting point for the new cycle of the "15th Five Year Plan". The wave of new power system construction is surging, and the path to the "dual carbon" goal is clear and distinguishable. The company implements the business policy of "market refinement and incremental expansion, strong technical support engine; improving quality management and keeping the bottom line, innovating and breaking through barriers to open up new chapters", providing a clear action plan for grasping the "time" of the times. The opportunities of the times and the opportunities created by proactive change and enterprising spirit will blend together, creating infinite possibilities for the future of Guirong Company!

（Mr. Wang Yi, the General Manager of the company, released the "Guirong Company 2025 Work Summary and 2026 Business Plan"）

Signing of Responsibility Agreement, Signing of Contract for Expedition, Setting Goals, Winning Mission

Next, focusing on the annual core theme of the General Manager's work report, the company proposes eight key tasks and releases them in the form of a management team target responsibility letter. At the meeting, the shareholders' meeting, board of directors, and management team solemnly signed the 2026 target responsibility agreement; As the issuer of the responsibility letter, the general manager signs responsibility agreements with the execution team one by one, and through the closed-loop management of "commitment responsibility performance", ensures that the content of the responsibility letter is spoken, written, and fulfilled. The management team will fully play a leading role, leading all employees to closely focus on the company's established goals, and with a high sense of responsibility and mission, steadily promote the implementation and effectiveness of various business tasks. Further strengthen the sense of responsibility, uphold a pragmatic and diligent work style, truly work hard and overcome difficulties, implement and promote implementation with the spirit of nailing nails, ensure that tasks are not reduced and goals remain unchanged, gather the wisdom and strength of all staff, and spare no effort to win the company's annual business target battle.

（Shareholders' meeting, board of directors and management team members sign 2026 target responsibility agreement）

（General Manager Wang Yi and members of the management team signed a target responsibility agreement for 2026）

Commending advanced individuals, setting an example, and working together to continue writing brilliant achievements

Wind, sword, frost, sword forge a pine soul, unyielding and revealing its true colors. In the face of difficulties in 2025, the people of Guirong have broken through with ingenuity and the character of Qingsong: market pioneers seek opportunities in the snow, leaving footprints of progress on the frozen track; Technologists take risks and set up innovation ladders on cliffs; Production guarantors stand firm day and night, melting the ice of winter with enthusiasm; Logistics blood runs through the texture, using intangible power to support tangible battles

At the meeting, the company commended teams and individuals who have shown outstanding performance in 2025. It is a tribute to the glorious past, a spark that illuminates the journey ahead, and a star that ignites the team's fighting spirit. This is not only an honor, but also a responsibility and commitment. As the new year begins, may we paint the spring mountains together with the determination of pine and cypress.

（Commendation photo）

Keeping up with the "Navigator" · Gathering Strength and Empowering · Embarking on a New Journey Together

Finally, Mr. Hu Mingcong, founder of Da Baiyun, representative of the shareholders' meeting, and president of Guangzhou Baiyun Electrical Equipment Co., Ltd., delivered a speech. He highly affirmed the outstanding business achievements of Guirong in 2025 and paid high respect and heartfelt thanks to all Guirong people for their hard work. Based on the new chapter at the beginning of the 15th Five Year Plan, Mr. Hu Mingcong conveyed the strategic call of the group to "forge a new soul, shape a new type, expand the new situation, and embark on a new journey", calling on all Guirong people to adopt a "zero mentality" and bravely break out of their comfort zone, strive to double the performance of the 15th Five Year Plan with the ambition of operators, and embrace innovation of the times with the attitude of learners. He advocates the concept of "everyone is an operator", inspiring all "iron warriors" to seize major opportunities such as power grid upgrading and new energy development, and actively layout new quality productivity fields such as power electronics and energy storage. We must consolidate the strong foundation of the enterprise with a fighting attitude, forge the excellent quality of "Guirong" with the spirit of craftsmanship, inherit the Baiyun iron making culture, and promote the "Guirong" brand to the world stage. He advocates for the cultivation of a sense of ownership among all staff, firmly abandoning the mentality of lying flat, and bravely shouldering the mission with the attitude of a struggler, and firmly implementing it. We look forward to every Guirong person setting the right direction in their new role positioning, moving forward with diligence and determination, and jointly forging a new glory for the 15th Five Year Plan. Let's work together towards a beautiful tomorrow of "love, responsibility, struggle, learning, and prosperity for all"!

（Speech by Mr. Hu Mingcong, CEO of the shareholder representative company）

The Joyful Song of the Old Year Ignites the Auspicious Energy, and the Prosperous Scenery of the New Century Ignites the Chapter of Brilliance

Laughter and joy dance as we bid farewell to the new year, while joyful songs sway forth into spring. In order to stimulate employee creativity, forge team cohesion, and rejuvenate the spirit of the New Year, the annual meeting also arranged employee style exhibitions such as cultural performances, dinners, lucky draws, and other activities. Creative talents are competing to bloom, and songs, dances, poems, and music interweave to create brilliant chapters; At a warm dinner, we joyfully reminisce about the camaraderie of our colleagues and raise our glasses together to paint a blueprint for development; The lucky draw segment was full of surprises, with mysterious prizes being announced one after another, pushing the atmosphere on site to a boiling point. In the end, with the passionate melody of 'Unity is Strength', this grand gathering of wisdom and warmth came to a successful conclusion. In 2026, the Lunar Year of the Horse is approaching with its head held high. We work hand in hand, with the spirit of dragon and horse, to open this new chapter together.

"Embarking on a Journey Across Mountains and Seas， Scaling New Heights in the Coming Year"。Standing at the starting line of the 15th Five Year Plan, the strategic blueprint for the new year has slowly unfolded: we will use digital transformation as the engine to accelerate the construction of an intelligent production system; Building a sustainable development paradigm for the entire industry chain with green and low-carbon as the foundation; Taking a global perspective as a coordinate, deepen the layout of the international market, and make the "golden signboard" of Chinese manufacturing shine brightly on the world stage. In 2026, we will strike one nail after another with the "nail spirit", grasp each link with the "craftsman spirit", transform strategic determination into tactical action, and refine the grand blueprint into construction drawings. We firmly believe that as long as all colleagues maintain the spirit of "innovation", the wisdom of "creativity", and the style of "hard work", we will bravely stand at the forefront of change, define the future in innovation, fulfill the responsibility of industry leaders, and contribute greater strength to the transformation and upgrading of China's power equipment manufacturing industry!

Photo Display

Employee Style Art Performance

Lucky Draw