New Year Message from the Chairman of LGMG for 2025

Dear employees, partners, and friends of LGMG:

As we celebrate the Spring Festival and embrace the promise of a new year, I am honored, on behalf of Lingong Heavy Machinery Co., Ltd., to extend my profound gratitude and heartfelt wishes to our dedicated employees and their families, who have brought their talent and maintained unwavering commitment to work each day; to our overseas team members and their families, who continue to represent our mission across global markets; to our valued customers and strategic partners, who have continued to place their confidence in our shared vision; and to our friends and supporters across industries, whose continued trust and partnership have strengthened our foundation.

Reflecting on 2024, we are filled with profound pride for our accomplishments. Throughout the year, we navigated market challenges with determination, deepening our strategic commitment to “Internationalization, Electrification, Digitalization, and Intelligent Manufacturing”. Our achievements have been remarkable: our relentless focus on product excellence and service quality has earned strong recognition from clients; our strategic expansion into global markets, particularly our breakthrough success with new energy mining vehicles, has reinforced our diversified global presence; our talent, internationalization and technology innovation strategy continues to secure our position as an industry leader, maintaining our competitive edge through advanced technological capabilities; our digitalization initiatives – from Intelligent Connectivity and IoV (Internet of Vehicles) platforms to RAPID process optimization – have transformed our operational capabilities, earning national recognition from China Central Television. These accomplishments stand as a testament to the extraordinary dedication of every member of our company and the invaluable support of our partners and stakeholders across the industry.

As we look toward 2025, we are filled with confidence and anticipation, while remaining mindful of the significant responsibilities ahead.

Throughout 2024, the ongoing geopolitical challenges and evolving trade regulations have created new market dynamics and intensified competition. As we enter 2025 – the final year of China’s 14th Five-Year Plan – we must remain acutely aware of greater challenges and opportunities lying ahead, as our industry embraces sustainability, automation, and AI-driven solutions. This transformation underscores the critical importance of technological innovation in our path forward.

In this new year, we will maintain our unwavering commitment to market-oriented strategies, with innovation as our foundation and talent as our cornerstone, as we continue to deliver superior products and services that exceed customer expectations in quality, efficiency, and reliability.

In our market development efforts, we will pursue the synergistic growth of both international and domestic operations through our “Dual Circulation” strategy. We will vigorously expand our global market presence while driving rapid breakthroughs in new businesses and markets. Guided by our principle that “product strength plus service excellence equals brand power”, we will establish our “3-2-1 Global Service Support Platform” and build a reputation for outstanding service quality.

We will continue to push the boundaries of technological innovation, with strategic investments in new energy solutions, artificial intelligence, large language models, and other cutting-edge technologies. This focus will drive the development of smarter, more sustainable, and highly efficient solutions while pioneering new possibilities in intelligent construction.

Our talent strategy centers on strengthening our comprehensive “12N Talent Development Pipeline”. We will transform our organizational capabilities, strategically position core talent in critical roles, and enhance our performance management systems to meet our ambitious targets and drive sustainable growth.

As we step into this promising new year, the spirit of LGMG propels us forward – a spirit defined by innovative thinking, bold exploration, and an unwavering pursuit of excellence. We are accelerating our transformation to usher in a new era of enhanced productivity. The New LGMG we envision will be built on digital intelligence across operations, integrated information systems, streamlined cross-functional collaboration, and intelligent resource optimization. Standing firm in our commitment to being a trusted industry leader, we embark on this exciting journey to shape an even more brilliant future for LGMG.

I extend my heartfelt wishes to you and your loved ones for abundant health, professional success, and moments of joy in all that lies ahead.

??

Chairman of Lingong Heavy Machinery Co., Ltd.

Yu Mengsheng