Mr. He Xi Attends 2022 Retreat of Xinyuan

On February 27, 2022, Mr. He Xi, Chairman of CPID, Chief Engineer (New Energy) of SPIC and Chairman of Xinyuan Smart Energy Storage Co., Ltd. ("Xinyuan"), attended the 2022 retreat of Xinyuan. Mr. Xue Xinchun, Vice President of CPID and Deputy Chairman of Xinyuan also attended the meeting. They analyzed and discussed Xinyuan's key tasks and implementation ideas for 2022 at the meeting.

Mr. He listened to the report of Xinyuan's leadership team on nine aspects: company development, product development, manufacturing, project implementation, human resources, capital operation, funds & taxes, integrated management and party building. Mr. He affirmed the achievements made by Xinyuan in 2021 and was confident about Xinyuan's development momentum in 2022. Mr. He pointed out that Xinyuan should accelerate the production and manufacturing of battery systems, reduce procurement costs, establish and improve quality management system, and create value across the whole industrial chain of energy storage; and at the same time, Xinyuan should increase the investment in research and development, focus on the construction and operation of new energy distribution and storage demonstration projects, and develop state-of-the-art energy storage technologies. Mr. He said that Xinyuan should plan the capital operation with the standard of a unicorn company, complete the application for high-tech enterprise and scientific reform demonstration enterprise on schedule, take measures to recruit talents, and improve the compensation and staff welfare systems.

Mr. Xue pointed out that Xinyuan should maintain the good development momentum of the year 2021 and take solid steps to achieve more. First, strengthen human resources management and guarantee the staffing for R&D, EPC business and manufacturing. Second, build an intelligent, market-oriented manufacturing plant with core competitiveness to better control the costs of energy storage equipment. Third, take brand building as the top priority in development, expand market influence and establish a good reputation in the industry, based on Xinyuan's technology and market advantages.

CPID's relevant department heads and Xinyuan's leadership team and key personnel attended the meeting.