On September 16, 2023, Mr. Wu Pinfang, Chairman of Jiangsu Guofu Hydrogen Energy Equipment Co, Ltd. (“GUOFUHEE”) met with Mr. Elmano de Freitas da Costa, Governor of Ceara State, Brazil, and his delegation in Shanghai. Mr. Governor paid great attention to GUOFUHEE's global strategic layout and warmly welcomed GUOFUHEE's joint venture with Brazilian partner to invest and build a factory in Ceara State, which will be an important step to build a blueprint for localization of hydrogen energy equipment manufacturing in Latin America.

Chairman Wu introduced to Mr. Governor about the layout of GUOFUHEE's whole industrial chain in hydrogen generation, storage, transportation, refueling and application, as well as the planning of GUOFUHEE's five overseas production and manufacturing bases. Subsequently, Mr. Governor also introduced the long-term plan for hydrogen projects, and the advantages of developing hydrogen production and hydrogen eco-chain projects in the state of Ceara, a key renewable energy development region in Brazil, especially the Port of Pecem in Ceara for its convenient logistics and tax exemption policy. Ceara, as a state with the most planned green hydrogen projects in Brazil, has signed 32 green hydrogen projects with developers and investors from all over the world, and the demand for hydrogen energy equipment is tremendous. GUOFUHEE's planning of a 1GW electrolyzer manufacturing base in the Port of Pecem is of great significance for the development of the hydrogen and renewable energy industry in the state of Ceara, Brazil, and even in the entire Latin America.

GUOFUHEE has established a joint venture company in Brazil, GF Hydrogen Brazil Ltd which is actively expanding hydrogen business in Brazil. In addition to the manufacturing project at the Port of Pecem, GUOFUHEE and its partner are also actively engaged in green hydrogen generation, hydrogen refueling stations and supporting hydrogen transportation projects. Through its well-established manufacturing system and many years of experience in operating hydrogen projects, GUOFUHEE is committed to assisting Brazil and the entire Latin American market in the rapid development of the hydrogen industry and contribute to the transition to clean energy.

At last, Chairman Wu and Mr. Governor agreed to meet again at the end of this year in the state of Ceara, where Mr. Governor will be invited for the groundbreaking ceremony for the GUOFUHEE manufacturing base in Brazil.

Our heart for hydrogen development is unswerving, and we will surge forward. GUOFUHEE is committed to the promotion of green hydrogen energy equipment and technology for the world, and on the road to green and low-carbon development of energy and industry, all of us at GUOFUHEE will strive to fulfill our mission.