As time goes by, the year is prosperous and the season is new. On behalf of all the employees of Ritar International Group, I would like to express my heartfelt thanks and best wishes to our global customers, partners, investors and all sectors of society who have always trusted and supported us! Thank you for your trust and support along the way, and for witnessing Ritar's growth and breakthroughs together.

Looking back to 2024, the international situation is changing rapidly. Overcapacity, price involution, and escalating international trade frictions have all brought tremendous pressure and challenges to the new energy industry. However, rainbows and storms coexist, opportunities and challenges coexist. The more difficult the situation is, the more we must unite as one, rise to the challenge, and move forward courageously. We are well aware that only by embracing new changes can we create the future; only by continuing to exert our strength and forge ahead can we remain invincible.

Innovation as the wing, safety as the foundation

This year, we have built a "safety line" in the process of innovation and iteration. We have implemented a product differentiation strategy with innovation as the wing and safety as the foundation. We have explored the safety pain points of customers, anchored the safe energy market, and launched an intrinsically safe solid-state lead battery energy storage solution. The "Study on the Combustion and Explosion Hazard Characteristics of Solid-State Lead Batteries" issued by the Tianjin Fire Research Institute of the Ministry of Emergency Management proves that Ritar solid-state lead batteries are inherently safe; it has passed the rigorous testing of Shenzhen Bay (Shenzhen) Fire Research and Development Co., Ltd. and fully complies with the strict requirements of the "General Principles for the Design of Industrial Buildings" for battery intrinsic safety; and it has become the "Standard Atlas of Design and Installation of Building Photovoltaic Storage Direct Flexible System" edited by China Southwest Architecture Design Institute and co-edited by China Architecture Standard Design Institute. Solid-state lead batteries are emphasized as the only batteries that meet the requirements of intrinsically safe energy storage. This breakthrough has led the industry to a safer and more reliable direction. At the same time, we are deeply involved in the formulation of energy storage industry standards, and have contributed Ritar solutions to the standardization and standardization of the new energy industry with professionalism.

● "Group Standard for Solid-State Lead Batteries for Energy Storage"

Ritar International Group, the editor-in-chief of the Energy Storage Application Branch of the China Chemical and Physical Power Industry Association, and other industry enterprises and institutions participated in the formulation, and many industry experts jointly completed the "Group Standard for Solid-State Lead Batteries for Energy Storage" (T/CIAPS 0032-2024).

● "General Design Rules for Industrial Upstairs Buildings"

Ritar solid-state lead batteries have passed the rigorous testing of Shenzhen Bay (Shenzhen) Fire Research and Development Co., Ltd. and fully meet the stringent requirements of the "General Design Rules for Industrial Upstairs Buildings" for battery intrinsic safety.

● "Study on the Combustion and Explosion Hazard Characteristics of Solid-State Lead Batteries"

The "Study on the Combustion and Explosion Hazard Characteristics of Solid-State Lead Batteries" issued by the Tianjin Fire Research Institute of the Ministry of Emergency Management proves that Ritar solid-state lead batteries are inherently safe.

● "Design and Installation Standard Atlas of Building Photovoltaic Storage Direct and Flexible System"

Edited by China Southwest Architecture Design Institute and co-edited by China Architecture Standard Design Institute, the "Design and Installation Standard Atlas of Building Photovoltaic Storage Direct and Flexible System" emphasizes that solid-state lead batteries are the only batteries that meet the requirements of intrinsically safe energy storage.

● "General Design Rules for New Infrastructure of Civil Buildings"

Edited by Shenzhen Urban Planning and Design Institute Co., Ltd. and other units, the "General Design Rules for New Infrastructure of Civil Buildings" was officially approved as a local standard for engineering construction in Shenzhen and will be implemented on November 1, 2024. It clearly stipulates that the energy storage system of civil buildings must use intrinsically safe solid-state lead batteries.

Strength recognition, 0→1 breakthrough

Ritar's solid-state lead battery energy storage solution has won high recognition from Japan's Panasonic Battery Company for its excellent intrinsic safety performance and has been successfully settled in the Panasonic Industrial Park. This cooperation indicates that Ritar's solid-state lead battery safety energy storage technology has been recognized by internationally renowned companies, and also provides Panasonic Industrial Park with a safe and stable energy supply guarantee.

Ritar solid-state lead battery energy storage Panasonic project

It is worth mentioning that Ritar's solid-state lead battery energy storage has once again been recognized by Apple-related companies and has successfully entered the Apple-related data center energy storage power station. This cooperation once again confirms Ritar's leading position and innovative strength in the field of safe energy storage. It also builds electrochemical energy storage power stations in industrial buildings, successfully achieving a major breakthrough from 0 to 1 in "safe energy storage in industrial buildings".

Global layout, further expansion of territory

This year, we expanded our "global footprint" through win-win cooperation. We accelerated our pace of globalization, with products exported to more than 120 countries and 120+GWh used globally. Ritar's green footprint has covered all corners of the world and has been integrated into thousands of industries. We drive low-carbon transformation with innovation and set industry benchmarks with quality. In the face of changes and opportunities in the new energy industry, we always adhere to the concept of openness and win-win, deepen communication and collaboration with global customers, and continuously promote the new energy industry to develop in a higher quality, higher efficiency, and more sustainable direction. We practice the international layout of "based in China, deployed overseas, and close to customers", and build new office buildings and Ruixiang New Materials Vietnam Factory in Vietnam to provide customers with nearby and agile delivery services, thereby enabling the resilience of corporate development.

Intelligent manufacturing and enhanced capabilities, excellent qualifications

This year, we released "high-quality new production capacity" in the intelligent manufacturing upgrade. We accelerated the layout of production capacity and completed the strategic extension of the entire new energy industry chain. The construction of Ruixiang New Materials Vietnam Factory started, and the annual production base of 6 million kilowatt-hour solid-state lead batteries was officially put into operation. Ritar achieved production expansion and capacity increase by relying on intelligent equipment, digital quality, information management, and lean production, and accelerated market response with high-quality supply. With excellent quality and efficient supply, we have won many honorary awards such as "National Green Factory", "National High-tech Enterprise", "National Specialized Little Giant", "National CNAS Laboratory", and "National Green Design Product", providing quality assurance. Behind these honors is the persistent pursuit of quality and sincere commitment to customers.

Intrinsically safe, outstanding storage

It is time to forge ahead as a new chapter begins. In the new year, we will forge ahead, adhere to the inherently safe energy storage technology route, insist on innovation-driven development, and consolidate our leading position in industry technology. We will use the new driving force of safety as an engine to drive green development, and rely on Ritar's pursuit of innovation and adherence to quality to make the concept of "Choosing Ritar is choosing safety" take root in the hearts of every customer.