On July 10, 2026, Zhejiang Oulun Electric Co., Ltd. (hereinafter referred to as "Oulun Electric"), sponsored by Guolian Minsheng Securities Underwriting and Sponsorship Co., Ltd. (hereinafter referred to as "Guolian Minsheng Underwriting and Sponsorship" or "the Company") as the lead underwriter, successfully listed on the Beijing Stock Exchange and officially entered the capital market. The successful listing of Oulun Electric is another benchmark project sponsored by Guolian Minsheng Underwriting, which deeply cultivates high-end manufacturing, green low-carbon track, and serves national level specialized, refined, and new "little giant" enterprises. With professional investment banking strength, it empowers new quality productivity enterprises to develop with high quality.

Oulun Electric (920081. BJ) issued 19 million shares at a price of 38.69 yuan per share, raising a total of 735.11 million yuan. After deducting the issuance expenses, the raised funds will be used for the "Annual Production of 600000 Dehumidifiers and 15000 Air Source Heat Pumps Project", "Annual Production of 30000 Air Source Heat Pumps Project", and "Research and Development Center Construction Project". The investment direction is in line with the industry development trend and national policy guidance, which is conducive to enhancing the profitability of Oulun Electric's main business, consolidating and improving the company's competitive advantage in the industry, further improving market competitiveness and risk resistance.

As the sponsoring institution (lead underwriter), the Guolian Minsheng Underwriting Sponsorship Project Team has been deeply accompanying the growth of the enterprise throughout the process, practicing the core positioning of "industrial investment bank, technology investment bank, and wealth investment bank", relying on collaborative advantages to fully leverage the professional research and judgment capabilities of the twelve cutting-edge industry groups, deeply understanding the industrial logic of environmental regulation sub sectors, comprehensively sorting out the enterprise's equity, business, technology, and compliance system, efficiently promoting the entire process of coaching, application, inquiry, issuance, and listing, strictly controlling compliance risk control checkpoints, coordinating roadshow promotion and investor value communication, fully ensuring the smooth landing of this issuance and listing, and receiving high recognition from the issuer and capital market investors.

The successful landing of Oulun Electric on the Beijing Stock Exchange this time is not only a milestone in the development of the enterprise, but also an important practice of Guolian Minsheng underwriting and sponsorship to empower green equipment manufacturing with financial vitality and cultivate new quality productivity. The company has long focused on key areas of new quality productivity such as specialization, precision, novelty, high-end equipment, new energy, and green manufacturing. With the Beijing Stock Exchange as an important service platform, it continues to provide comprehensive financial services throughout the entire lifecycle for hidden champions in segmented fields. As a core platform for serving innovative small and medium-sized enterprises, the Beijing Stock Exchange is highly aligned with the company's strategic focus on cultivating specialized, refined, and innovative enterprises.Next, Guolian Minsheng Underwriting and Sponsorship will adhere to the essence of serving the real economy, continue to amplify the core advantages of state-owned investment banks and specialized industry groups, continue to explore the leading scientific and technological innovation fields in segmented tracks, help more specialized, innovative and high-tech enterprises connect with multi-level capital markets, promote the transformation and upgrading of the manufacturing industry and the development of green and low-carbon industries through professional investment banking services, and continuously contribute financial strength to cultivating and strengthening new quality productivity and promoting high-quality development of the capital market.

Attachment: Introduction to Zhejiang Oulun Electric Co., Ltd

Deeply cultivate the field of environmental regulation and build a leading brand in the industry

Oulun Electric was founded in December 2009 and is a comprehensive enterprise that integrates research and development, design, manufacturing, sales, and service of environmental conditioning equipment. The company's main products include four series: dehumidifiers, mobile air conditioners, car refrigerators, and air source heat pumps. Since its establishment, the company has always adhered to the corporate philosophy of "creating a more comfortable air environment", with humidity regulation, temperature control, air purification, energy conservation and emission reduction as its service direction. It is committed to providing comprehensive air environment regulation solutions for enterprises, institutions, households and other users.

At present, the company's products have been widely used in industries or fields such as power, electronics, pharmaceuticals, paper industry, food, agricultural and sideline products, venues, warehouses, laboratories, etc. The company has established an omnichannel sales and service network through a combination of online and offline, direct sales and distribution. Its products are distributed throughout the country and exported to countries and regions such as the United Kingdom, Germany, Italy, Japan, South Korea, the United States, France, and Spain. With the advantages of large-scale intelligent manufacturing and non-standard customization capabilities, the company has established stable cooperative relationships with well-known domestic and foreign customers such as Midea Group, Great Wall Motors, and Lotte from South Korea. It has also participated in key engineering projects such as the Nam Ou Hydropower Station in Laos, the Three Gorges Hydropower Station, Beijing Daxing International Airport, Bird's Nest, Shanghai World Expo, Guizhou Apple Data Center, and Hangzhou Asian Games, and its brand influence continues to increase.

Innovation driven development, building core competitive advantages

As a national high-tech enterprise and a national level specialized and innovative "little giant" enterprise, Oulun Electric has always adhered to independent innovation to drive enterprise development. It is committed to the research and development, production, and sales of environmental conditioning equipment such as dehumidifiers, mobile air conditioners, car refrigerators, and air source heat pumps. Through efficient iteration of products and continuous upgrading of technical capabilities, it has built a comprehensive competitive advantage and formed a complete solution integrating technology research and development, production and manufacturing, and product services. The company has established a provincial-level enterprise technology research institute, a provincial-level high-tech enterprise research and development center, and a Hangzhou enterprise high-tech research and development center. It has also invested in the construction of advanced enthalpy difference laboratories, noise laboratories, working condition laboratories, etc. in the industry, providing a solid guarantee for the company's independent research and development and product testing.

As of December 31, 2025, the company has obtained 343 patents (16 invention patents) and 25 software copyrights. In addition, as the first drafting unit, the company took the lead in revising the national standard for dehumidifiers (GB/T19411-2024), and also participated in drafting two and three industry standards as well as five group standards, continuously leading the technological progress of the industry.

In terms of production and manufacturing, the company has a production base of approximately 250000 square meters for intelligent environmental regulation equipment, established an intelligent and information-based manufacturing system, and equipped with complete automated production equipment and a perfect information management system, forming a complete industrial chain advantage from research and development design to large-scale production, providing solid guarantees for rapid market response and high-quality product delivery.

Adhere to green and low-carbon development, and assist in the construction of new quality productivity

Under the background of the "dual carbon" strategy, Oulun Electric has always adhered to the concept of green development, continuously promoted the construction of a green manufacturing system, and continuously improved resource utilization efficiency and environmental friendliness through intelligent manufacturing upgrades, research and development of high-efficiency products, and application of energy-saving technologies. The company's environmental regulation equipment products have passed multiple domestic and international product tests and certifications, such as CCC certification in China, CRAA product certification, CSA certification in the United States and Canada, PSE certification in Japan, KC certification in South Korea, CE certification in South Korea, GS certification in Germany, CE certification in Europe, etc. The products are sold to multiple countries and regions around the world.

Standing at a new starting point of entering the capital market, Oulun Electric will fully leverage the advantages of the capital market platform, continuously increase research and development investment, continuously improve the level of intelligent manufacturing and global layout capabilities, adhere to innovation driven enterprise development, strive to grow into a benchmark enterprise in the environmental regulation equipment industry with international competitiveness, and contribute greater strength to promoting the high-end, intelligent, and green development of the manufacturing industry.