Brief Introduction of Astronergy

High Quality, High Performance, High Efficiency

December 2023
To create a sustainable and net-zero carbon world with solar power 1
 01 Our Positioning

02 Our Advantages
CONTENT
03 Our Products

04 Social Responsibility

To create a sustainable and net-zero carbon world with solar power 2

OUR POSITIONING

To be the most competitive PV module supplier worldwide.

To create a sustainable and net-zero carbon world with

solar power.

Customer focus, accountability, collaboration, high efficiency

and innovation.

Create values for customers; Offer chances for employees to

chase better life; Shoulder social responsibilities.

To create a sustainable and net-zero carbon world with solar power 3

MILESTONES

Astronergy was Production capacity Astronergy Intelligent factory in Hangzhou Mass production Pioneer in n-
founded of c-Si modules acquired Conergy was put into operation efficiency of high- type TOPCon
reached 100MW module factory in efficiency bifacial
Frankfurt, Germany
Thailand Manufacturing Base modules
PERC cell reached a
started module production
new peak

2006 2008 2014 2016 2020 2022

2007 2012 2015 2018 2021

Module production line Haining The renamed product Yancheng

Mass production of
in Jiuquan brand (ASTRO) was Manufacturing Base's
crystalline silicon (c-Si) Manufacturing Base
Manufacturing Base officially launched first module rolled off
cell started was established
was completed Total Global Shipments the assembly line
reach 3GW

To create a sustainable and net-zero carbon world with solar power 4

CHINT GROUP & ASTRONERGY

About CHINT Group

Founded in 1984, CHINT Group Co., Ltd. (hereinafter referred to as "CHINT") is a global leading smart energy
solutions provider. Over the past 39 years since its establishment, CHINT has always focused on industry and brand
building, deeply implemented the strategy of "Industrialization, Technologization, Internationalization, Digitalization and
Platformization", and formed three major segments of "Green Energy, Intelligent Electric and Smart Low-carbon" and
two major platforms of "CHINT International Platform and Sci-tech Innovation Incubation Platform", with its business
covering more than 140 countries and regions and employees of more than 40,000 worldwide.

About Astronergy

Focusing on PV cells and modules, Astronergy is an intelligent manufacturing company under CHINT Group, with its
photovoltaic business started from 2006. Astronergy is committed to the R&D, production and sales of high quality, high
performance and high efficiency crystalline silicon solar cells and modules, and has been a pioneer in n-type TOPCon
PV modules.

To create a sustainable and net-zero carbon world with solar power 5

 THE ENTIRE INDUSTRY CHAIN
c-Si PV cell & module R&D,
manufacturing and sales

Power Generation Utility-scale Power Station

Power Storage
Distributed Power Station

Overseas Power Station

Power Transmission
Residential Photovoltaic
CHINT Group's
Power
Transformation Green Energy Intelligent Operation and
Maintenance
Business Sector

Integrated Energy
Power Distribution EPC

Energy Storage System

Power Trading
Smart Grid Distribution
Power Consumption
Cogeneration

To create a sustainable and net-zero carbon world with solar power 6

 01 Our Positioning

02 Our Advantages
CONTENT
03 Our Products

04 Social Responsibility

To create a sustainable and net-zero carbon world with solar power 7

 HONORS

No. 1 in " China's Top 100 Private Enterprises No. 82 in "2022 China's Top 500 Private

Honors
Enterprises "
with Social Responsibility" in 2021
No. 235 in "2022 Top 500 Chinese Enterprises"

For 7 years, Astronergy has been honored by

PVEL as "TOP Performer" among Tier 1 PV Module Maker listed by
module manufacturers Bloomberg NEF

For 4 times, Astronergy has won 8 TÜV TOP 10 PV Modules Suppliers released
Rheinland "All Quality Matters" Awards by S&P Global

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 BANKABILITY
Due to its stable financial situation, reliable product quality, and outstanding brand value, Astronergy bankability rating
continues to rise. According to the Bankability Ratings released by PV ModuleTech, Astronergy has been in the upper for multiple
consecutive quarters; In the annual "PV Module and Inverter Bankability" released by Bloomberg New Energy Finance (BNEF),
Astronergy bankability rating has risen from seventh place on the 2022 list to sixth place on the 2023 list.

Year of
2023

Year of
2022

9
PV ModuleTech 2023 Bankability Ratings BNEF 2022&2023 Bankability Survey TOP10
 KEY FIGURES

45000 + 140 +
18.34 Billion USD Countries and Regions
2022 CHINT Group Revenue Employees Worldwide Where Businesses
Cover

3.02 Billion USD

TOP 6* 20 GW

2023 H1 PV Modules 2022 PV Modules

PV Modules Revenue in 2022 Shipments among Production Capacity
All Suppliers Worldwide Worldwide

11 GW
8.3 Million Tons 8.3 Billion kWh

Cumulative Capacity of PV Power Green Electricity

CO2 Emissions Reduced
Stations Owned by CHINT Group Provided for the Whole
per Year
Society per Year

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Source: Infolink
GLOBAL PRESENCE

60 GW+
Total Global Shipments

Haining, HQ

140+ Canada
UK
Germany
Jiuquan, China
Yanchi, China
Yancheng, China
R&D, MFG Center

Countries the Netherlands Poland

Songyuan, China

Switzerland Fengyang, China

Turkey South Korea
Spain Japan
USA Greece
Israel Hangzhou, China
Morocco Haining, China
Egypt
Manufacturing Base
Wenzhou, China
Fuyang, China In Yancheng
Mexico Yiwu, China

Ghana Nigeria India Vietnam

Thailand
Cameroon
Colombia Kenya

Singapore

Zambia
Brazil Manufacturing Base
In Jiuquan
South Africa Australia
Chile
Argentina

New Zealand

Global Headquarters Global Sales Offices Global Sales Channels

Manufacturing Base
Global R&D Center Global Manufacturing Bases Global Manufacturing Bases in Thailand
(mass production) (under construction)
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 CAPACITY PLANNING

Astronergy's TOPCon cell production capacity will increase to 43GW in 2023.

In 2025, the TOPCon capacity share of Astronergy will be ≥ 90% vs. industry ≤ 40%.

(GW)
Astronergy Modules & Cells Capacity Plan n-type TOPCon Capacity Comparison
110 100%
100
90
90% 90%
90 85%
81 80% 81%
75

TOPCon Capacity Share

70%
70 65
60%
53 55 55
50%
50 43
40% 40%
37%
30% 31% 32%
30
20
13 20%
10 4 10% 11%
0%
-10 2022 2023 2024 2025 2022 2023 2024 2025
n-type Cell Cap Cell Cap Module Cap Astronergy Industry
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GLOBAL PARTNERS

To create a sustainable and net-zero carbon world with solar power 13

FINANCIAL SUPPORT

Actively involved in the financial investment sector, the company

has established investment and financing companies such as
Zhejiang Civil Investment Bank, Wenzhou Civil and Commercial
Bank, Zheshang Insurance, and CHINT Finance, and has been
investing in new energy, electrical and many other fields.

We have established comprehensive cooperation with major

domestic and foreign financial institutions such as China Credit
Insurance, China Development Bank, Export Bank, ICBC, IFC,
Standard Bank, Shinhan Bank, SCB, CITI, etc., with financing
ratio and financing cost leading in the industry.

To create a sustainable and net-zero carbon world with solar power 14

 01 Our Positioning

02 Our Advantages
CONTENT
03 Our Products

04 Social Responsibility

To create a sustainable and net-zero carbon world with solar power 15

MODULE PRODUCTS ITERATION & INNOVATION

4BB 5BB G1 158.75 M6 166 M10 182 G12 210 n-TOPCon 182
Polycrystalline High Efficiency PERC 22.5%+PERC 23%+PERC+MBB 23.2%+PERC+MBB High Efficiency
PERC Monocrystalline Half-cut High Bifaciality
SE MBB Half-cut
Black Silicon PERC Non-destructive Cutting Better Low-irradiation
Half-cut Half-cut Non-destructive
Technology Technology Performance, Low Temperature
Cutting High-Density
Coefficient, Low Degradation
Encapsulation Design

ASTRO ASTRO ASTRO ASTRO ASTRO ASTRO ASTRO

1 2 3 4 5 6 N

325~350W 375~390W 405~425W 440~460W 540~555W 650~670W 635W

17.8% 19.3% 20.7% 21.1% 21.5% 21.6% 22.8%

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MAIN PRODUCTS

ASTRO N7

• n-type TOPCon 3.0 PV cell ASTRO N7s

• n-type TOPCon 3.0 PV cell
• Light redirecting film ( for double-glass
series) • RSD device (Optional)

• SMBB tech • ZBB-TF tech

• Higher power • Higher power

• Higher efficiency • Higher efficiency

• Higher reliability • Higher reliability

• Higher power generation per watt • Higher power generation per

182*210 182 watt
• Lower BOS & Lower LCOE
Rectangular Wafer Rectangular Wafer
• Lower BOS & Lower LCOE

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MAIN PRODUCTS

ASTRO N5
ASTRO ASTRO
ASTRO N5s
5 5s

182 210
182 Wafer 182 Wafer 182 Wafer

• n-type TOPCon cell • High-efficiency PERC+ • High–efficiency PERC+

• The series includes two products to meet • Suitable for utility-scale power stations and • Featuring “light, efficient, quality and
variable PV application scenarios distributed power stations aesthetic”, especially for residential PV
rooftops

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INTELLIGENT MANUFACTURING

The Thinking Factories The World’s First PV “Internet + Transparent Factory”

• Supported by Big Data

• AI Quality Inspection
• The 1st to Achieve AI Automatic Detection of EL Defects Automatic Glass Laminating
Scribing Machine Intelligent Assembly Line
Machine
• Automatic Monitoring of the Entire Process
• Fully Automated Production
• Automatic Batching by Unmanned Vehicles
• Localization of Production Equipment
Automatic Feeding and Bar Series Welding Machine Banding Machine
Code Sticking Machine

Top Level of Intelligent Manufacturing

2016: Sino-German Intelligent Manufacturing Demonstration Base
2020: Intelligent Photovoltaic Pilot Demonstration Enterprise Laminating Machine 90 Degree Flip Inspection Group Box All-in-one Machine

To create a sustainable and net-zero carbon world with solar power 19

INTELLIGENT QUALITY CONTROL

Process Control

MES SPC Quality Control AI Quality

(Manufacturing (Statistical Process App Detection
Execution System) Control)

• Collects, • Monitors key • Digital • Intercepts and

feedback and quality control documents for reports defects in
verifies statistics points, ensure statistic reserve production
for the control of process stability, and timely process to
manufacturing timely alarm and control. improve products
abnormality. avoid unqualified. quality.

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INTELLIGENT AI DETECTION

Key Process Detection Semi-finished Product Detection Finished Product Detection

Pre-lamination Post-lamination Post-lamination EL Detection

CCD Detection Serial AI Detection
EL & VI Detection Detection & Final Detection

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HIGH RELIABILITY & HIGH QUALITY

25-30 Years Power Warranty

Systemized Quality Control Measures

Rigorous Testing Procedures

Certificates with ISO9001, ISO14001 and

With strong testing capabilities, Astronergy has obtained the
OHSAS18001…
qualifications of CNAS Laboratory, CSA Witness Laboratory, TÜV
Rheinland Witness Laboratory, Intertek "Satellite Program"

World-class suppliers and partners Laboratory and other qualifications, and conducts more than 30
rigorous tests internally for PV modules.

To create a sustainable and net-zero carbon world with solar power 21

LEADING TECHNOLOGY LEADS TO HIGH PERFORMANCE

Mono-PERC cell efficiency is 23.4%, leading in PV industry

1st Tier 1 The average efficiency of n-type TOPCon cells reaches 25.75%*,

and the average optimal efficiency of n-type TOPCon produced from pilot line hits 26.4%+*. (*Data as of Nov. 24, 2023)

20 % The number of R&D personnel with intermediate titles and

above at the national level accounts for over 20%
Cell R&D

Module R&D

Product Project

311 311 Patents: 232 Utility Model Patents

72 Invention Patents R&D Center
Project Management

Advanced Technology
(as of Aug., 2023) 7 Appearance Design Patents Management

IP Management

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GLOBAL R&D COOPERATION

Shanghai Jiao Tong University

Explore the "industry university research" Hangzhou Dianzi University New Tunnel Passivated High-efficiency Solar Cell &
Module Technology
integration mode with Shanghai Jiao Tong High-efficiency Monocrystalline PERC Cell
Technology
University, Zhejiang University, Zhejiang University of
Technology, Hangzhou University of Electronic
Science and Technology, New South Wales, Chinese
Zhejiang University
Academy of Sciences Ningbo Institute of Materials
Key Technologies of Low-cost
and other universities and research institutions, and High-efficiency Solar Cells

integrate global innovation resources, and promote

enterprise R&D innovation and talent training. Deeply
cooperate with domestic and foreign frontline
UNSW SYDNEY
equipment and material manufacturers, carry out Zhejiang University of
Hydrogen Passivation Project
collaborative innovation in the industrial chain, and Technology
n-type Passivated Contact High-
promote industry material innovation and
efficiency Bifacial Crystalline Silicon
industrialization. Solar Cells

To create a sustainable and net-zero carbon world with solar power 23

R&D ROADMAP

Mass Production Reserve R&D

Products
Key

TOPCon cell（wafer size 182, 210）

PERC cell（wafer size 182, 210）

Process
Key Tech

Amorphous silicon deposition, TCO deposition, Electroplating, Efficient flocking

High doping polysilicon deposition, Boron selective emitter, Tunneling oxide layer deposition, TOPCon-MBB, Hydrogen passivation

SiNx SiON passivation technology, Hydrogen passivation, PERC-MBB, Selective emitter technology, High sheet-resistance and dense fingers
Reserve
Technological

HJT Cell

IBC Cell

Perovskite Cell

Tandem Cell

2021
To create a sustainable and net-zero carbon world with solar power 24
 APPLIED CASES
——
Utility-scale PV Power Stations

• Benban Solar Park Project in Egypt, 165MW

• Agriculture-Solar Hybrid PV Power Station in

Wenzhou, 150MW

• Forest-Solar Hybrid Power Station in

Jiangshan Quzhou, 200MW

• Utility-scale Project in Zhangjiakou, Hebei Midden-Groningen Solar Park, one of the Largest Power China’s First Sand-Solar Hybrid Power Station
Province, 70MW Stations in the Netherlands 310MW | Kubuqi, Inner Mongolia, China
103MW | The Netherlands
• Goonumbla Project in Australia, 89MW

• Barreiras Project in Brazil, 50MW

• Insua Power Station in Portugal, 48.5MW

• Utility-scale Project in Yongchang, Gansu

Province, 200MW

• Utility-scale Project in Qiongjie, Tibet, 10MW

• Top Runner Project in Baicheng, Jilin

Province, 100MW
The Largest Fishing-Solar Hybrid Project in Asia Claresholm Solar Farm, one of the Largest Solar Power
…… 550MW | Wenzhou, Zhejiang Province, China Plant in Canada
132MW | Southern Alberta, Canada 25
To create a sustainable and net-zero carbon world with solar power
 APPLIED CASES
——
Distributed Rooftop
PV Power Stations
C&I PV Rooftop

• Logistics Warehouses Rooftop Solar

Projects in Serbia, 10MW

• Hikvision Rooftop Project in Hangzhou,

Zhejiang Province, 10MW

• Jintian Copper BIPV Power Station in

Roof Photovoltaic Power Station of Hangzhou East Hangzhou Civic Center Podium Roof Photovoltaic
Ningbo, Zhejiang Province, 30MW
Railway Station Power Station
• C&U Group Rooftop Project in Wenzhou, 10MW | Hangzhou, Zhejiang Province, China 1.2MW | Hangzhou, Zhejiang Province, China

Zhejiang Province, 23MW

• Roof Project in Changxing Economic Zone,

Huzhou, Zhejiang Province, 20MW

• Geely Automobile PV Rooftop Project in

Linhai, Zhejiang Province, 10.3MW
……

Residential PV Rooftop

• Residential Project in Kecheng District, Hervey Bay Rooftop Project “Million Rooftops for Zhixi”
Quzhou, Zhejiang Province, 30MW 16 kW | Australia 4MW | Quzhou, Zhejiang Province, China
26
…… To create a sustainable and net-zero carbon world with solar power
 01 Our Positioning

02 Our Advantages
CONTENT
03 Our Products

04 Social Responsibility

To create a sustainable and net-zero carbon world with solar power 27

 CORPORATE SOCIAL RESPONSIBILITY

In May 2023, Astronergy globally published its 2022 Environmental, Social and Governance (ESG) Reports (hereinafter referred to as
“the ESG Report"), delivering on its actions and results on promoting sustainable and stable development and practicing UN SDGs
and UNGC 10 Principles to all stakeholders.

Goal 8 R&D investment over than Conduct due diligence and

Decent Work and RMB: environmental assessment
Sustainable Management
Corporate Governance

Economic Growth
dimension screening in terms
250 million
of supplier’s social impact:
Goal 9
Industry, Innovation
and Infrastructure Legal proceedings related
100 %

to corruption and unfair Customer complaint tracking and

competition: rectification rate:
Goal 16
Peace, Justice
and Strong Institutions
0 100 %

Astronergy ESG Report download: https://www.astronergy.com/index.php/?s=esg&search_type=3 28

 CORPORATE SOCIAL RESPONSIBILITY

In May 2023, Astronergy globally published its 2022 Environmental, Social and Governance (ESG) Reports (hereinafter referred to as
“the ESG Report"), delivering on its actions and results on promoting sustainable and stable development and practicing UN SDGs
and UNGC 10 Principles to all stakeholders.

Goal 6
Clean Water and Scope I+II emission intensity: Environmental violations:
Sanitation
Environment-friendly

30.49 0
Climate Change

tCO2e/MW

Goal 7
Affordable and Achieved
Clean Energy Energy intensity:
3 %

Goal 13
0.46 reduction in overall
Climate Action tons of standard coal/MW energy consumption

Astronergy ESG Report download: https://www.astronergy.com/index.php/?s=esg&search_type=3 29

 CORPORATE SOCIAL RESPONSIBILITY

In May 2023, Astronergy globally published its 2022 Environmental, Social and Governance (ESG) Reports (hereinafter referred to as
“the ESG Report"), delivering on its actions and results on promoting sustainable and stable development and practicing UN SDGs
and UNGC 10 Principles to all stakeholders.

Goal 3 Goal 10 Employee satisfaction score: Incidents of discrimination,

Good Health Reduced harassment, forced labor or
and Well-Being Inequalities
82.49 child labor:
Career Development
Social Welfare

Goal 4 Goal 11
which has been on the rise
for two consecutive years 0
Quality Sustainable Cities
Education and Communities
Factories awarded ISO 45001
and ISO14001 certificates:
Goal 5
Gender Equality 100 %

Astronergy ESG Report download: https://www.astronergy.com/index.php/?s=esg&search_type=3 30

CORPORATE SOCIAL RESPONSIBILITY

Support 1,000 Employees to

40% Proportion 100% Proportion of 2050
Operational
Complete Continuing Core Suppliers
of Female Carbon
Education and Enhance Their Certified by ISO
Employees Neutrality
Academic Qualifications 14001/45001

Support 100 Ecological 30% Proportion of Female 90% Product Recycling Rate 2035
Power Plant Projects in Total in the Management Team

30% Proportion of Help 10,000 Farmers 100% Proportion of

Female Technicians Increase Their Income Renewable Energy Sources

Zero Landfill of Waste 100% Core Suppliers Are

Subject to Due Diligence Audits
2028
All Members of and Social Environmental
Astronergy ESG Report the Management Team Standard Assessments

French ECS Certification Have Their Compensation

Linked to Esg 8 Zero Carbon Factories
The First Zero Carbon Factory 2023

31
CORPORATE SOCIAL RESPONSIBILITY

Joined the United Nations Global

Compact (UNGC)

Appear on the official website of the United Nations,

which endorses the CHINT brand and brings the
following benefits:
• Share experiences and learn from each other with
consensus companies and organizations.
• Expand CHINT's resources for overseas public
welfare activities.
• Obtain the most authoritative sustainable
development policy information and connection.
• Establish partnerships with United Nations
agencies, including the International Labor
Organization, the office of the United Nations
High Commissioner for human rights, the United
Nations Environment Program and the United
Nations Development Program.
• Improve the ECO VADIS corporate social
responsibility score of 10 + to maximize business
opportunities.
32
CORPORATE SOCIAL RESPONSIBILITY

Charity Activities in China

• CHINT Group has always been devoted to

building an extraordinary CSR management
system and improving social responsibility
performance throughout all aspects of business
operation.
• CHINT Group has donated more than 54 million
dollars to social welfare such as precise poverty
Promote photovoltaic projects in the countryside to Provide scholarship of 20 million dollars so far for
alleviation, school donation, epidemic relief, increase farmers' family income and protect educational institutions to help students in need and
industry promotion and ecological protection. environment. reward excellent students

Set up innovation award of more than 1 million Collaborate with China Society for Promotion of
Donated 1.5 million dollars of emergency
dollars to encourage talents and promote the Guangcai Program and actively participate in
supplies to the rescue operations in Henan flood 33
development of the electric-power industry targeted poverty alleviation
CORPORATE SOCIAL RESPONSIBILITY
Overseas Charity Activities

Donated over 1,000 boxes of food and CHINT associated with Foundation Frenó Al Icus, launching
necessary living materials to more than "CHINT, Let Love Shine" continues to bring clean energy
the "Pedal against stroke" virtual low-carbon challenge to
1,000 families in need in 40 underdeveloped areas in experiences to schools, hospitals and welfare institution
draw attention to the problem of stroke and improve
Egypt in April 2021. around the world people’s awareness and vigilance.

Launched an initiative to combat the devastation that

Global relay to fight the pandemic together. Helped Rebuild Homes in the Earthquake Areas of caused by the storm Philomena: that is, donated 5 % of
Donated overseas more than 200k masks ,10k Turkey by providing urgently needed materials 34 to the
the amount of CHINT surge protections sold online
protective clothes and 50 respirators. tree recovery.
High Quality, High Performance, High Efficiency

www.astronergy.com

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