GONGFENG LITHIUM ISSUED A PROFIT WARNING, EXPECTING NET PROFIT IN 2023 TO FALL 69.76% TO 79.52% COMPARED TO THE SAME PERIOD LAST YEAR, EXCLUDING NON-RECURRING LOSSES OF 82.96% TO 88.47%. Basic earnings per share are expected to be $2.09 to $3.08, down significantly from $10.18 a year ago. The decrease in results was mainly due to the cyclical impact of the lithium industry, a decrease in the price of lithium salt products, a smaller decrease in the price of lithium ore compared to lithium salt and downstream products, resulting in a decrease in gross profit margin and the provision for asset depreciation. THE COMPANY AND THE AUDITOR HAVE PRE-COMMUNICATED WITH THE AUDITOR REGARDING PERFORMANCE ESTIMATES WITHOUT SIGNIFICANT DISCREPANCIES. The financial data has not yet been audited and the final data may be adjusted. The Company will publish audited annual results by the end of March 2024. Shareholders and potential investors should act with caution.

GONGFENG LITHIUM ISSUED A PROFIT WARNING, EXPECTING NET PROFIT IN 2023 TO FALL 69.76% TO 79.52% COMPARED TO THE SAME PERIOD LAST YEAR, EXCLUDING NON-RECURRING LOSSES OF 82.96% TO 88.47%. Basic earnings per share are expected to be $2.09 to $3.08, down significantly from $10.18 a year ago. The decrease in results was mainly due to the cyclical impact of the lithium industry, a decrease in the price of lithium salt products, a smaller decrease in the price of lithium ore compared to lithium salt and downstream products, resulting in a decrease in gross profit margin and the provision for asset depreciation. THE COMPANY AND THE AUDITOR HAVE PRE-COMMUNICATED WITH THE AUDITOR REGARDING PERFORMANCE ESTIMATES WITHOUT SIGNIFICANT DISCREPANCIES. The financial data has not yet been audited and the final data may be adjusted. The Company will publish audited annual results by the end of March 2024. Shareholders and potential investors should act with caution.