道通科技：The 2024 Annual Report of Autel Intelligent Technology Corp., Ltd.

/

/

EmbraceAI,DrivetheFuture

—ALettertoInvestorsfromtheChairmanDearinvestors,

Astimepasses,innovationcontinuestodriveusforward.In2025,Autelwillcelebratetwosignificantmilestones:the20

th

anniversaryofourfoundingandthe5

thanniversaryofourlisting.Atthispivotalmoment,wearefilledwithgratitudeandadeepsenseofresponsibility—gratitudeforthetrustandsupportofourshareholders,andreverenceforthemissionandobligationstheerahasentrustedtous.Lookingback,wehavenavigatedthroughchallenges,usingproductsasourvesselandinnovationasoursail,transitioningfromanindustryexplorertoagloballeader.Today,AIisrapidlyreshapingtheworld,andthefourthindustrialrevolutioniswellunderway.Thewindsofchangearepropellingustowardafutureoflimitlesspossibilities.

2024:EmpoweringBusinesswithAItoAchieveLeapfrogGrowth2024markedapivotalyearforAutelaswefullyembracedAI.ByleveragingAItoredefineourbusinessvalue,fosteringcollaborativeecosystemsforcommongrowth,andimplementingthestrategyof“AI+VerticalScenarios”,weachievedrecord-breakingresults:

operatingrevenueofRMB3,932million(ayear-on-yearincreaseof21%),anetprofitofRMB641million(aremarkableyear-on-yearsurgeof258%),andnetcashgeneratedfromoperatingactivitiesofRMB748million(ayear-on-yearincreaseof72%).

ThissuccessreflectsthetremendousprogressmadeinthreekeyAI-drivenbusinesssegments:

●PowerSolutions:AI-DrivenRevolutioninEnergyEfficiency

WehaveintegratedpowerelectronicsandAItechnologiestointroduceend-to-endsmartchargingnetworksandintegratedPV&ESSmanagementsolutions,advancingglobalsustainabledevelopmentwithourdigitalandintelligentpowersolutions.Thisyear,oursolutionswerehighlyrecognizedbycustomersinNorthAmericaandEurope,andwesuccessfullypartneredwithseveralleadingglobalenergygiants,underscoringAutel'sleadershipintheglobalsmartenergysector.In2024,revenuefromournewenergychargingbusinessgrewbyapproximately53%year-on-year,accountingforover22%oftotaloperatingrevenue.

●Diagnostics:AIDefiningtheFutureofDigitalandIntelligentDiagnostics

/

Leveragingextensiveindustryexperienceandvastdiagnosticdata,Auteldevelopeditsproprietarydigitaldiagnosticlargelanguagemodels.Welaunchedthe“DigitalandIntelligentDiagnosticBrain”,whichimprovedfaultdiagnosisaccuracyto98.5%andcreatedtheworld’sfirstopendiagnosticplatformcompatiblewithover95%ofautomotivebrands.In2024,digitalandintelligentdiagnosticsgeneratedoperatingrevenueofRMB3,042million,markingayear-on-yearincreaseof15%.AInotonlysolidifiedourleadershipintheautomotivediagnosticsmarketbutalsosignificantlyincreaseddemandforonlinesoftwareupgradeservices.Softwarerevenuegrewby24%year-on-yeartoreachRMB446million,witharemarkablegrossprofitmarginof99%forsoftwareupgradeservices.

●AI-poweredRoboticsSystems:IntegratedAir-GroundSolutionsImplementedinKeyScenarios

In2024,Autelestablishedasubsidiary,DaoHeTongTaiRobotics,andsetuptheAutelMaxwellAIClusterandtheAutelMaxwellRoboticsLab.WeintegratedtheDeepSeeklargelanguagemodelandlaidthefoundationforspecializedlargelanguagemodelsandintelligentagentarchitectures.Welaunchedthe"IntegratedAir-GroundClusterIntelligentSolutions"poweredbygenerativeAI.

Thisinnovativeinitiativewasrapidlydeployedinindustriessuchasenergyandtransportation,includingmajorprojectslikethoseinPetroChina’soilfields.ThismarkstheinitialsuccessofthethirdAI-drivengrowthfrontier,fosteringcollaborativegrowthacrossourbusinessecosystems.

2025:AcceleratingAIImplementationandSettingtheStandardforNewQuality

Productivity

In2025,AutelwillfullyembraceAI,positioningitasthecoredriverbehindourgrowth.WewillfocusontheintegrationofAIintoourbusinessplansandorganizationalpolicies,aimingtobuildthreekeygrowthcurves.Whilemaintaininggloballeadershipindigitalandintelligentdiagnostics,weaimtobecomeaworld-classinnovatorinintegratedPV&ESSmanagementsolutionsandatrailblazerinintegratedair-groundclusterintelligentsolutions.Additionally,westrivetoleadthecommercialadoptionofAIlargelanguagemodelsspecifictoourindustriesoffocus.

●ContinuingtoTransformDiagnosticsandPowerSolutionswithAI

/

Autelwilldeepenitsfocusonautomotiveadvanceddiagnosticsandnewenergycharging.?Intermsofdigitalandintelligentdiagnostics,Autelhasalreadydevelopedan

industry-specificlargelanguagemodelandwillcontinuetoevolvebybuildingfault

analysisagents,diagnosticsagentsandomnichannelserviceagentsphasebyphase.

ThistransformationwillenableashifttowardAgentasaService(AaaS)inautomotive

diagnostics.Wewilldevelopanewgenerationofautomotiveadvanceddiagnostic,

TPMS,andADASsolutions,improvingbothcustomerexperienceandoperational

efficiency,andfurthersolidifyingourpositionasagloballeaderinautomotive

advanceddiagnostics.?Fordigitalandintelligentpowersolutions,Autelisbuildingenergy-specificlarge

languagemodelsandwilllaunchMaxiCharger,aDCultra-fastchargingplatform,and

MaxiPowerX/S,aPV&ESSmanagementsolution.Wewilldevelopplatform-based

andseries-basedintelligentchargingsolutions,includingintelligentchargingagents,

sitemanagementagentsandecosystemcoordinationagents,alldesignedtoimprove

chargingefficiencyandboostcustomerinvestmentreturns.Weaimtoachieveglobal

leadershipinsmartenergysolutions.

●BuildingIntegratedAir-GroundClusterIntelligentSolutionswithAI

RegardingAI-poweredroboticssystems,AutelwillfocusondevelopingleadinglargelanguagemodelsolutionsandPlatformasaService(PaaS)solutionsforverticalindustries.Wesynergizeembodiedintelligentagents(air/groundrobots)todeployindustry-leadingair-groundclustersolutions.Thesesystemsempowerenergy,transportation,andothersectorswithprecise,efficient,andcomprehensivevaluedelivery,positioningAutelasthecommercialleaderinindustrialAImodelapplications.

TotheFuture:EmbraceLong-TermThinkingandBuildaMoatfortheAIEra

Dearinvestors,theAIrevolutionissweepingacrosstheglobe,reshapingindustriesatanunprecedentedpace.Inthiscriticalmoment,Autelaimsnottofollowthetrend,buttosteerthecourseofthistransformativeera.

WeunderstandthatthetruevalueofAIliesnotintechnologicaldisplays,butinitsabilitytoaddressreal-worldindustrychallenges—whetherit’senhancingautomotivediagnostics,improvingtheefficiencyofgreenenergy,orenablingdronesandrobotsto

/

workmoreautonomously.Attheheartofthisisthevisionandperseveranceoflong-termthinkers.

Aftertwodecadesofgrowth,AutelhasexpandedfromShenzhentotheworldstage.Overthenextdecade,wewillharnessAItocapitalizeonthreetrillion-dollaropportunities:

greenenergy,low-altitudeeconomy,andembodiedAI.Whiletheroadaheadmaynotalwaysbesmooth,wefirmlybelievethatbyaligningwiththetrends,wewillshapethetrendsthemselves.

Afutureoflimitlesspossibilitiesisawaitingus.Togetherwithyou,wewillkeepmovingforward!

Lastbutnotleast,I’dliketoextendmyheartfeltgratitudeandbestwishestoallinvestors!

ChairmanoftheBoard:

AutelIntelligentTechnologyCorp.,Ltd.

March2025

/

ImportantNotes

1.TheBoardofDirectors(orthe“Board”),theSupervisoryCommitteeaswellasthedirectors,supervisorsandseniorexecutivesofAutelIntelligentTechnologyCorp.,Ltd.(hereinafterreferredtoasthe“Company”)herebyguaranteethatthecontentsofthisReportaretrue,accurateandcompleteandfreeofanymisrepresentations,misleadingstatementsormaterialomissions,andcollectivelyandindividuallyacceptlegalresponsibilityforsuchcontents.

2.IndicatewhethertheCompanywasunprofitableatthetimeoflistingandhasremainedsoeversince.

□Yes√No

3.MajorriskwarningTheCompanyhaselaboratedinthisReportonvariousrisksthatitmayfaceduringitsoperationsandthecountermeasures.Forfurtherinformation,pleasereferto“PartIIIManagementDiscussionandAnalysis/IVRiskFactors”herein.

4.AllthedirectorsoftheCompanyattendedtheboardmeetingforthereviewofthisReport.

5.Pan-ChinaCertifiedPublicAccountantsLLPhasissuedanindependentauditor’sreportwithunmodifiedunqualifiedopinionfortheCompany.

6.LiHongjing,theCompany’slegalrepresentativeandpersoninchargeofaccounting,andXueWei,headoftheCompany’sfinancialdepartment(equivalenttofinancialmanager)herebyguaranteethatthefinancialstatementscarriedinthisReportaretrue,accurateandcomplete.

7.FinaldividendplanapprovedbytheBoardofDirectors

AsresolvedbytheBoardofDirectors,the2024finaldividendplanincludesacashdividendandabonusissuefromcapitalreservesbasedonthetotalsharecapitalminusthe

/

sharesintheCompany’saccountofrepurchasedsharesattherecorddateforthedividendpayout,withdetailsasfollows:

1.TheCompanyintendstopayacashdividendofRMB5(taxinclusive)per10sharestoshareholders.AsofMarch20,2025,basedonthetotalsharecapitalof451,878,499sharesminusthe6,359,282sharesintheCompany’saccountofrepurchasedshares,thetotalcashdividendamounttobedistributedisRMB222,759,608.50(taxinclusive),accountingfor34.76%ofthenetprofitattributabletothelistedcompany’sshareholdersintheconsolidatedfinancialstatementsof2024.Thetotalcashdividendamountforthefullyear(includingtheinterimcashdividendpayout)isRMB399,117,890.10,andtheamountofcashusedasconsiderationtorepurchasesharesontheopenmarketisRMB146,540,449.03intheyear.ThetwoamountscombinedisRMB545,658,339.13,accountingfor85.14%ofthenetprofitattributabletothelistedcompany’sshareholdersintheyear.Inparticular,theamountofcashusedasconsiderationfortherepurchaseandretirementofshares(hereinafterreferredtoasthe“RepurchaseandRetirementofShares”)ontheopenmarketisnil.This,togetherwiththetotalcashdividendamountforthefullyear,totalRMB399,117,890.10,accountingfor

62.27%ofthenetprofitattributabletothelistedcompany’sshareholdersintheyear.

2.TheCompanyintendstomakeabonusissueof4.9additionalsharesforevery10sharesheldbyshareholdersfromcapitalreservesinsteadofprofit.AsofMarch20,2025,basedonthetotalsharecapitalof451,878,499sharesminusthe6,359,282sharesintheCompany’saccountofrepurchasedshares,thetotaladditionalsharesinthebonusissueare218,304,416,andthetotalsharecapitalwillincreaseto670,182,915sharesuponthebonusissue(sharecapitalsubjecttothenumberregisteredwiththeShanghaibranchofChinaSecuritiesDepositoryandClearingCorporationLimited,withtaildifference,ifany,duetorounding).

3.AsofMarch20,2025,theCompanyheld6,359,282sharesinitsaccountofrepurchasedshares,whichareexcludedfromthefinaldividendplan(inclusiveofthebonusissue).

4.WhereanychangeoccurstothetotalsharecapitaloftheCompanyduetoanyconvertiblebond-to-stockconversion/repurchaseofsharesandothermattersduringtheperiodfromthedateofdisclosureofthisReporttotherecorddateforthedividendpayout,thecashdividendandbonusissuepershareshallremainthesamewhilethetotalpayout

/

andbonusissueamountshallbeadjustedaccordingly.Ifanychangeoccurstothetotalsharecapitalafterthesaidperiod,thespecificadjustmentswillbeannouncedseparately.

8.Indicatewhethertherewereanyspecialarrangementsforcorporategovernanceandothersignificantmatters.

□Applicable√Notapplicable

9.Riskwarningregardingforward-lookingstatements

√Applicable□Notapplicable

Anyplans,developmentstrategiesandotherforward-lookingstatementsmentionedinthisReportshallnotbeconsideredaspromisestoinvestors.Investorsareremindedtoexercisecautionwhenmakinginvestmentdecisions.

10.IndicatewhetherthecontrollingshareholderoranyotherrelatedpartyoccupiedtheCompany’scapitalfornon-operatingpurposes.No.

11.IndicatewhethertheCompanyprovidedanyguaranteeforanyexternalpartyinviolationoftheprescribeddecision-makingprocedure.No.

12.Indicatewhetheroverhalfofthedirectorsrefusedtoguaranteethetruthfulness,accuracyandcompletenessofthisReport.No.

13.Otherinformation

□Applicable√Notapplicable[TheEnglishversionofthisReportistranslatedfromtheChineseversion.Shouldtherebeanydiscrepanciesormisunderstandingsbetweenthetwoversions,theChineseversionshallprevail.]

/

TableofContents

PartIDefinitions ...... 10

PartIICorporateInformationandKeyFinancialInformation ...... 11

PartIIIManagementDiscussionandAnalysis ...... 18

PartIVCorporateGovernance ...... 87PartVEnvironmental,SocialandOtherCorporateGovernanceInformation...116PartVISignificantEvents ...... 134

PartVIIShareChangesandShareholderInformation ...... 170

PartVIIIPreferenceShares ...... 179

PartIXBonds ...... 180

PartXFinancialStatements ...... 184

Documentsavailableforreference	Thefinancialstatementssignedandstampedbythelegalrepresentativeandpersoninchargeofaccounting,andthefinancialmanager
	TheIndependentAuditor’sReportstampedbytheaccountingfirm,aswellassignedandstampedbytherelevantcertifiedpublicaccountants
	TheoriginalsofalltheCompany’sdocumentsandannouncementsdisclosedonthewebsitedesignatedbytheCSRCduringtheReportingPeriod

/

PartIDefinitions

IDefinitionsTheexpressionsintheleftcolumninthetablebelowrefertothecontentsintherightcolumnunlessotherwisespecified.

Definitionsoffrequentlyusedterms
“Autel”,“we”orthe“Company”	refersto	AutelIntelligentTechnologyCorp.,Ltd.
A-stock	refersto	Ordinarystockthatisapprovedforlistingondomesticstockexchanges,withparvaluedenominatedinRMB,andissubscribedforandtradedinRMB
DaoHeTongDa	refersto	ShenzhenDaoHeTongDaInvestmentEnterprise(L.P.)
NingboHuishun	refersto	NingboHuishunInvestmentPartnership(L.P.)(formerlyknownas“DongTaiHeShunJiaBusinessManagementLimited(L.P.)”)
SkyFendTechnology	refersto	ShenzhenSkyFendTechnologyCo.,Ltd.
QingdaoJinshi	refersto	QingdaoJinshiHaoruiInvestmentCo.,Ltd.
FortuneChuangheng	refersto	ShenzhenFortuneChuanghengEquityInvestmentEnterpriseL.P.
FortuneChuangtai	refersto	ShenzhenFortuneChuangtaiEquityInvestmentEnterpriseL.P.
FortuneChuangrui	refersto	ShenzhenFortuneChuangruiEquityInvestmentEnterpriseL.P.
FortuneChuangfeng	refersto	ShenzhenFortuneChuangfengEquityInvestmentEnterprise(L.P.)
FortuneCaxin	refersto	ShenzhenFortuneCaxinVentureCapitalManagementCo.,Ltd.
HainingJiahui	refersto	ZhejiangHainingJiahuiInvestmentPartnership(L.P.)
NanshanHongtai	refersto	ShenzhenNanshanHongtaiEquityInvestmentFundLimitedPartnership
PingyangTitanium	refersto	PingyangTitaniumInvestmentManagementCenter(LimitedPartnership)
ShenzhenJiangu	refersto	ShenzhenJianguEquityInvestmentFundEnterprise(L.P.)
LavaStrategy	refersto	PingtanLavaNewStrategyEquityInvestmentPartnership(L.P.)
MeishanJundu	refersto	NingboMeishanBondedPortAreaJunduDeruiEquityInvestmentManagementCenter(L.P.)
FiveStarTitanium	refersto	ChangzhouFiveStarTitaniumGreenEquityInvestmentFundPartnership(LimitedPartnership)
GuangzhouZhizao	refersto	GuangzhouZhizaoVCPartnership(L.P.)
YangzhouShangqi	refersto	YangzhouShangqiPhaseIIIAutomobileIndustryM&AEquityInvestmentFundCenter(L.P.)
WenzhouTitaniumStar	refersto	WenzhouTitaniumStarOneInvestmentManagementCenter(LimitedPartnership)
LavaNo.2	refersto	PingtanLavaNewStrategyNo.2EquityInvestmentPartnership(L.P.)
LavaWave	refersto	PingtanLavaNewWaveEquityInvestmentPartnership(L.P.)
LavaAge	refersto	ShenzhenLavaNewAgeEquityInvestmentPartnership(L.P.)
CSRC	refersto	TheChinaSecuritiesRegulatoryCommission
SSE	refersto	TheShanghaiStockExchange
The“ArticlesofAssociation”	refersto	TheCompany’sexistingArticlesofAssociation
RMBRMB’0,000RMB’00,000,000	refersto	ExpressedintheChinesecurrencyofRenminbiExpressedintensofthousandsofRenminbiExpressedinhundredsofmillionsofRenminbi(unlessotherwisespecified)
TPMS	refersto	TirePressureMonitoringSystem
ADAS	refersto	AdvancedDrivingAssistantSystem
ReportingPeriod	refersto	January1,2024-December31,2024

/

PartIICorporateInformationandKeyFinancialInformationIGeneralCorporateInformation

CompanynameinChinese	深圳市道通科技股份有限公司
ShortnameinChinese	道通科技
CompanynameinEnglish	AutelIntelligentTechnologyCorp.,Ltd.
ShortnameinEnglish	Autel
Legalrepresentative	LiHongjing
Registeredaddress	Floor2,CaihongKejiBuilding,36Hi-techNorthSixRoad,SongpingshanCommunity,XiliSub-district,NanshanDistrict,ShenzhenCity,China
Pastchangesofregisteredaddress	OnApril6,2023,theCompany’sregisteredaddresswaschangedfrom“Floors7,8and10ofBuildingB1,Zhiyuan,1001XueyuanAvenue,XiliSub-district,NanshanDistrict,ShenzhenCity,China”to“Floor2,CaihongKejiBuilding,36Hi-techNorthSixRoad,SongpingshanCommunity,XiliSub-district,NanshanDistrict,ShenzhenCity,China”.
Officeaddress	CaihongKejiBuilding,36Hi-techNorthSixRoad,SongpingshanCommunity,XiliSub-district,NanshanDistrict,ShenzhenCity,China
Zipcode	518055
Companywebsite	http://www.auteltech.cn/
Emailaddress	[e-mail]

IIContactInformation

	BoardSecretary	SecuritiesRepresentative
Name	LiXiongwei	ChenCai
Address	Floor2,CaihongKejiBuilding,36Hi-techNorthSixRoad,SongpingshanCommunity,XiliSub-district,NanshanDistrict,ShenzhenCity,China	Floor2,CaihongKejiBuilding,36Hi-techNorthSixRoad,SongpingshanCommunity,XiliSub-district,NanshanDistrict,ShenzhenCity,China
Tel.	0755-8159-3644	0755-8159-3644
Fax	0755-8614-7758	0755-8614-7758
E-mailaddress	[e-mail]	[e-mail]

IIIMediaforInformationDisclosureandPlacewherethisReportIsLodged

MediaandwebsiteswherethisReportisdisclosed	ChinaSecuritiesJournal(www.cs.com.cn),ShanghaiSecuritiesNews(www.cnstock.com),SecuritiesTimes(www.stcn.com),andSecuritiesDaily(www.zqrb.cn)
StockexchangewebsitewherethisReportisdisclosed	http://www.sse.com.cn
PlacewherethisReportislodged	TheBoardOfficeoftheCompany

/

IVStock/DepositoryReceiptProfilei.Stockprofile

√Applicable□Notapplicable

Stockprofile
Classofstock	Stockexchangeandlistingboard	Stockname	Stockcode	Formerlyusedstockname
A-stock	STARMarketoftheShanghaiStockExchange	Autel	688208	N/A

ii.Depositoryreceiptprofile

□Applicable√NotapplicableVOtherInformation

DomesticaccountingfirmappointedbytheCompany	Name	Pan-ChinaCertifiedPublicAccountantsLLP
	Officeaddress	BlockB,ChinaResourcesBuilding,1366QianjiangRoad,JiangganDistrict,HangzhouCity,ZhejiangProvince,China
	Accountantswritingsignatures	ZhuDaweiandYeNan
IndependentfinancialadvisorappointedbytheCompanytoexerciseconstantsupervisionovertheCompanyduringtheReportingPeriod	Name	CITICSecuritiesCompanyLimited
	Officeaddress	NorthTower,TimesSquareExcellence(PhaseII),No.8Zhongxin3rdRoad,FutianDistrict,ShenzhenCity,GuangdongProvince,China
	Sponsorswritingsignatures	MaXiaofengandJinTian
	Periodofconstantsupervision	July28,2022-December31,2024

VIKeyFinancialInformationfortheLastThreeYearsi.Keyaccountinginformation

Unit:RMB

Keyaccountinginformation	2024	2023		2024-on-2023change(%)	2022
		Restated	Before
Operatingrevenue	3,932,256,447.46	3,251,152,240.25	3,251,152,240.25	20.95	2,265,555,176.93
Netprofitattributabletothelistedcompany’sshareholders	640,925,193.32	179,233,332.27	179,233,332.27	257.59	102,033,256.64
Netprofitattributabletothelistedcompany’sshareholdersbeforeexceptionalgainsandlosses	540,774,400.55	366,828,763.59	366,828,763.59	47.42	101,195,289.50
Netcashgeneratedfrom/usedinoperatingactivities	747,517,485.85	434,056,417.87	434,056,417.87	72.22	-382,964,140.27

/

	December31,2024	December31,2023		ChangeofDecember31,2024onDecember31,2023(%)	December31,2022
		Restated	Before
Equityattributabletothelistedcompany’sshareholders	3,557,794,019.86	3,215,507,730.34	3,215,507,730.34	10.64	3,046,029,863.81
Totalassets	6,307,590,501.10	5,576,848,578.52	5,576,848,578.52	13.10	5,233,545,202.19

ii.Keyfinancialindicators

Keyfinancialindicator	2024	2023		2024-on-2023change(%)	2022
		Restated	Before
Basicearningspershare(RMB/share)	1.45	0.40	0.40	262.50	0.23
Dilutedearningspershare(RMB/share)	1.42	0.40	0.40	255.00	0.23
Basicearningspersharebeforeexceptionalgainsandlosses(RMB/share)	1.22	0.82	0.82	48.78	0.23
Weightedaveragereturnonequity(%)	19.47	5.72	5.72	Upby13.75percentagepoints	3.48
Weightedaveragereturnonequitybeforeexceptionalgainsandlosses(%)	16.42	11.72	11.72	Upby4.70percentagepoints	3.45
R&Dinvestmentsas%ofoperatingrevenue	17.29	18.34	18.34	Downby1.05percentagepoints	27.01

Notestothekeyaccountingandfinancialinformationforthelastthreeyears:

□Applicable√NotapplicableVIIAccountingDataDifferencesunderChina’sAccountingStandardsforBusinessEnterprises(CAS)andInternationalFinancialReportingStandards(IFRS)andForeignAccountingStandardsi.Differencesinnetprofitandequityattributabletothelistedcompany’sshareholdersunderCASandIFRS

□Applicable√Notapplicableii.Differencesinnetprofitandequityattributabletothelistedcompany’sshareholdersunderCASandoverseasaccountingstandards

□Applicable√Notapplicable

/

iii.Reasonsforaccountingdatadifferencesabove

□Applicable√NotapplicableVIIIKeyFinancialInformationfor2024byQuarter

Unit:RMB

Item	Q1(January-March)	Q2(April-June)	Q3(July-September)	Q4(October-December)
Operatingrevenue	863,227,597.54	978,517,249.12	962,408,113.13	1,128,103,487.67
Netprofitattributabletothelistedcompany’sshareholders	124,750,747.58	261,813,370.67	154,719,364.85	99,641,710.22
Netprofitattributabletothelistedcompany’sshareholdersbeforeexceptionalgainsandlosses	124,902,609.84	164,313,081.59	154,383,593.92	97,175,115.20
Netcashgeneratedfrom/usedinoperatingactivities	205,805,351.58	139,336,369.03	111,621,227.38	290,754,537.86

IndicatewhetheranyofthequarterlyfinancialdatainthetableabovediffersfromwhathavebeendisclosedintheCompany’spastperiodicreports.

□Applicable√NotapplicableIXExceptionalGainsandLosses

√Applicable□Notapplicable

Unit:RMB

Exceptionalgainorloss	2024	2023	2022
Gainorlossondisposalofnon-currentassets(inclusiveofimpairmentallowancewrite-offs)	95,308,517.51	-24,063.28	998,310.89
Governmentgrantsrecognizedinprofitorloss(exclusiveofthosethatarecloselyrelatedtotheCompany'snormalbusinessoperationsandgiveninaccordancewithdefinedcriteriaandincompliancewithgovernmentpolicies,andhaveacontinuingimpactontheCompany'sprofitorloss)	7,234,424.64	25,150,300.11	17,109,158.57
Gainorlossonfair-valuechangesinfinancialassetsandliabilitiesheldbyanon-financialenterprise,aswellasondisposaloffinancialassetsandliabilities(exclusiveoftheeffectiveportionofhedgesthatisrelatedto	-6,819,610.47	-20,881,573.69	-18,810,223.30

/

theCompany'snormalbusinessoperations)
Capitaloccupationchargesonanon-financialenterprisethatarerecognizedinprofitorloss
Gainorlossonassetsentrustedtootherentitiesforinvestmentormanagement	26,849.32	3,439,324.76	1,502,779.38
Gainorlossonloanentrustments
AssetlossesduetoactsofGodsuchasnaturaldisasters
Reversedportionsofimpairmentallowancesforreceivableswhicharetestedindividuallyforimpairment	2,323,447.42	5,000,000.00	385,015.65
GainequaltotheamountbywhichinvestmentcostsfortheCompanytoobtainsubsidiaries,associatesandjointventuresarelowerthantheCompany’senjoyablefairvalueofidentifiablenetassetsofinvesteeswhenmakinginvestments
Currentprofitorlossonsubsidiariesobtainedinbusinesscombinationsinvolvingentitiesundercommoncontrolfromtheperiod-begintocombinationdates,net
Gainorlossonnon-monetaryassetswaps
Gainorlossondebtrestructuring
One-offcostsincurredbytheCompanyasaresultofdiscontinuedoperations,suchasexpensesforemployeearrangements
One-timeeffectonprofitorlossduetoadjustmentsintax,accountingandotherlawsandregulations
One-timeshare-basedpaymentsrecognizedduetocancellationandmodificationofequityincentiveplans
Gainorlossonchangesinthefairvalueofemployeebenefitspayableafterthevestingdateforcash-settledshare-basedpayments
Gainorlossonfair-valuechangesininvestmentpropertiesofwhichsubsequentmeasurementiscarriedoutusingthefairvaluemethod
Incomefromtransactionswithdistinctlyunfairprices
GainorlossoncontingenciesthatareunrelatedtotheCompany'snormalbusinessoperations
Incomefromchargesonentrustedmanagement
Non-operatingincomeandexpense	1,457,177.97	-252,933,168.03	-878,331.67

/

otherthantheabove
Othergainsandlossesthatmeetthedefinitionofexceptionalgain/loss			824,531.60
Less:Incometaxeffects	-726,634.92	-53,841,885.12	-448,397.54
Non-controllinginterestseffects(netoftax)	106,648.54	1,188,136.31	741,671.52
Total	100,150,792.77	-187,595,431.32	837,967.14

ItemsunlistedintheExplanatoryAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic—ExceptionalGain/LossItemsareidentifiedasexceptionalandtheitemsareofasignificantamount,andexceptionalgain/lossitemslistedintheExplanatoryAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic—ExceptionalGain/LossItemsareidentifiedasrecurrent.

√Applicable□Notapplicable

Unit:RMB

Item	Amountinvolved	Reason
Valueaddedtaxrebateforsoftwareproducts	63,481,241.54	RecognizedasexceptionalgainforbeingrelatedtothecontinuingoperationsofsubsidiaryAutelHesheng

XNon-CASFinancialIndicators

□Applicable√NotapplicableXIItemsMeasuredatFairValue

√Applicable□Notapplicable

Unit:RMB

Item	Openingbalance	Closingbalance	Changeintheperiod	Effectoncurrentprofit
Equityinvestments	23,605,977.77	7,021,284.08	-16,584,693.69	-15,215,944.13
Total	23,605,977.77	7,021,284.08	-16,584,693.69	-15,215,944.13

XIIInformationSuspensionsandExemptionsduetoStateSecrets,TradeSecrets,etc.

√Applicable□NotapplicableAsthecooperationinformationbetweentheCompanyandcertaincustomersandsuppliersinvolvestradesecrets,inaccordancewiththerelevantprovisionsoftheStockListingRulesoftheSTARMarketoftheShanghaiStockExchangeandtheSelf-RegulatoryGuidelineNo.1forListedCompaniesoftheSTARMarketoftheShanghaiStockExchange-StandardizedOperations,theCompanyhascompletedthe

/

approvalproceduresforrelevantinformationdisclosureexemptionsaccordingtotheInformationDisclosureManagementRules.

/

PartIIIManagementDiscussionandAnalysisIDiscussionandAnalysisonOperations

AutelhaslongpositionedAIasitscoredriver,steadfastlyexecuteditsstrategicblueprintfor“Intelligentization”,andcontinuouslyadvancedthedeepintegrationofAItechnologiesintoitsproducts.

In2024,AutelfullyembracedAIandacceleratedtheintegrationofAIintoitsbusinessplansandorganizationalpolicies.Doingthisfurthersolidifieditspositionasagloballeaderindigitalandintelligentdiagnostics.Wealsorenewedourdedicationtoachievinggloballeadershipinsmartenergysolutionsandatrailblazerinintegratedair-groundclusterintelligentsolutions.WeaimtobethecommercialleaderinindustrialAImodelapplications.

Throughout2024,wemaintainedgloballeadershipindigitalandintelligentdiagnosticsasourprimarygrowthpillar,whilesolidifyingdigitalandintelligentpowersolutionsasthesecondaryhigh-growthenginethroughoverseasexpansioninnewenergycharginginfrastructure.EmbracinggenerativeAI’stransformativepotential,weutilizeditsaccumulationofproducttechnology,self-developedandlargelanguagemodelsspecifictoourindustriesoffocusandAIplatforms,aswellasextensiveapplicationscenariosandcustomerresourcestoearnestlycultivateitsintegratedair-groundclusterintelligentsolutionsbusinessasthethirdgrowthfrontier.Thesethreesynergisticdriversreinforceoneanother,layingastrongfoundationforAutel’slong-termdevelopment.ThisstrategicalignmentenablesAuteltomaintainacompetitiveedgeinglobaltechnologicaladvancements,sustainrapidgrowth,andachievecontinuousincreasesinrevenueandprofitability.

DuringtheReportingPeriod,weachievedoperatingrevenueofRMB3,932million,reflectingayear-on-yeargrowthof20.95%,andanetprofitattributabletoourshareholdersofRMB641million,markinga257.59%year-on-yearincrease.

i.Digitalandintelligentdiagnostics–AI-ledintelligenttransformation:Steadyincreaseintheprimarygrowthpillar

AmidtheconvergenceofnewenergyelectrificationandgenerativeAI,AutelharnessesitsextensiveautomotivediagnosticdataandintelligenthardwaretodriveR&Dandinnovationinitsautomotiveadvanceddiagnosticproducts.Bydeeplyanalyzingdiverseuserdemands,Autelhasbuiltamultitiereddigitalandintelligentdiagnostics

/

ecosystem.DuringtheReportingPeriod,commercializationacceleratedindigitalandintelligentdiagnostics,withthesegmentachievingoperatingrevenueofRMB3,018million,upby

13.93%yearonyear.Specifically,theautomotiveadvanceddiagnosticproductlinegeneratedrevenueofRMB1,267million.TPMSproductsrecordedrevenueofRMB706million,upby32.55%yearonyear.TheADASintelligentdiagnosticandcalibrationproductsgeneratedrevenueofRMB390million,reflectinga26.98%year-on-yeargrowth.Additionally,softwareupgradeservicescontributedRMB446millioninrevenue,risingby

24.20%yearonyear.Ourstrongtechnologicalfoundationandhighcustomerretentionratehavesolidifieditsleadershipintheglobalautomotiveadvanceddiagnosticandtestingmarket.Amongtheproductlines,TPMSproductsseemassivereplacementdemandintheautomotiveaftermarketduetomandatoryinstallationregulationsinmanycountries.Benefitingfromtheincreasinglyintelligentautomobiles,ADASproductswillcontinuouslydrivegrowthinourintelligentmaintenancebusiness.Whilemaintainingourcorestrengthsinautomotiveadvanceddiagnosticproducts,softwareupgrades,etc.,wefullypromoteAIAgentsinourdigitalandintelligentdiagnosticsbyleveragingthemultimodalprocessingcapabilitiesofgenerativeAIinspeech,image,text,visualrecognition,etc.,togetherwithdeeplearning,largelanguagemodels,andintelligentanalysisofdiagnosticbigdata,whichgreatlyempowersourmaintenancebusinessinverticalscenarios.

DuringtheReportingPeriod,welaunchedsuchintelligentfeaturesasAIVoiceAgentandAIInspectionAgent.Poweredbyalargelanguagemodelspecifictoourindustriesoffocusforautomotivediagnosticsandmaintenance,theAIVoiceAgentenablesnaturallanguageinteractionforfunctionsearches,helpinquiries,andinterfacecontrol.Meanwhile,AIvisionanalysisfacilitatesvehicleexteriordamagerecognition,makingthemaintenanceprocessmoreintelligent,easier,andmoreefficient.Theseadvancementssignificantlyimprovethedigitalandintelligentlevelofdiagnosticproducts,thuselevatingtheoveralluserexperience.

/

AutelAIVoiceAgent

AutelAIInspectionAgent

Lookingahead,Autelwilldevelopfaultanalysisagents,diagnosticsagentsandomnichannelserviceagentsphasebyphase,fullytransitioningtowardsAutomotiveDiagnosticsAaaS(AgentasaService).Bybuildingaself-learning,self-evolving,andself-optimizinglargelanguagemodeltailoredforthedigitalandintelligentdiagnosticsindustry,weaimtofurtherreinforceitspositionasagloballeaderinautomotivediagnostics.

ii.Digitalandintelligentpowersolutions–DeepintegrationofpowerelectronicsandAI:Thesecondaryhigh-growthengine

Accordingtoforecastsfromauthoritativeorganizations,by2025,theoverseaschargingmarketisexpectedtoreachapproximatelyRMB80billionperyear,withthepotentialtogrowtoaroundRMB120billionperyearby2030,demonstratingavastmarketoutlook.Atthesametime,withtherapiditerationoftechnologyandthecontinuousenhancementofcustomerdemandstandards,leadingcompanieswithcorecapabilitieswillcapturegreatermarketshare.

Weremaincommittedtotechnology-driveninnovation.SupportedbyourstrongfoundationinpowerelectronicsandAItechnologies,weacceleratethedevelopmentandapplicationofend-to-endsmartchargingnetworksandintegratedPV&ESSmanagementsolutions.Withanincreasinglystrongpresence,weareakeydrivingforceinthesmartenergysector.

1.AI-drivenenergyecosystemreconstructionandcomprehensivesolutionupgrades

(1)Deepintegrationofvehicles,chargers,andcloudtobuildaleadingintelligentchargingnetworksolution

Wearededicatedtodevelopingcutting-edge,end-to-endintelligentchargingnetworks.Centeredaroundfourkeyscenarios–on-the-go,destination,fleet,andresidentialcharging–withtheintelligentchargingplatformatthecore,weachievedeep

/

integrationofvehicles,chargers,andcloudservices,expandingthecapabilitiesofcoordinatedoperationbetweenthechargingnetworkandchargers,aswellasbetweenvehiclesandchargers.Thisensurescustomersbenefitfromsafeandreliableproducts,optimizedchargingexperience,andmaximizedinvestmentreturns.

Ourproductsolutionsencompasschargerplatformssuchas“ultra-fastDCcharging,integratedACresidential&commercialcharging”,complementedbycomprehensivecloudserviceplatformsforintelligentoperations,intelligentoperationsandmaintenance,andchargingpayment.LeveragingourextensiveaccumulationinpowerelectronicstechnologyandbreakthroughsinAIinnovation,wehavemeticulouslycraftedaseriesof“SiteAgents”tobuildadifferentiatedcompetitiveadvantageof“5iIntelligence.”Wehaveachieved“iSafethree-layerintelligentsafety,”“iChargeplug-and-chargeintelligentexperience,”“iManageself-optimizingandself-healingintelligentmaintenance,”“iRevenuepooledschedulingintelligentrevenueincrease,”and“iEMSstackedPVandESSintelligentcollaboration.”Thishasestablishedamoreintelligent,user-friendly,reliable,andgreenvehicle-charger-cloudecosystem.Basedonourhomegrownenergy-specificlargelanguagemodels,wehavedevelopedanAppVoiceAssistantforusersandaChargerManagementSystem(CSMS)SmartAssistantforoperators.?Ontheuserside,wesuccessfullylaunchedMax,industry’sfirstsmartvoiceassistantforchargingApps,whichprovidespersonalizedintelligentchargingoperationsbasedonuserbehaviorpatterns.Throughnaturallanguageandvoicecommands,userscancompletemorethan90%ofAppoperations,includingstartingandstoppingcharging,datainquiries,andissuereporting,andenjoymoreconvenientandintelligentexperience.?Ontheoperatorside,weintroducedtheCSMSSmartAssistant,builtonthe

largelanguagemodelspecifictoourindustriesoffocus,toprovidemoreefficientmanagementtoolsforchargingsiteoperators.Guidedbythesmartassistant,operatorscansetuptheironlinechargingsitemanagementsysteminjustfiveminutesthroughnaturallanguageinteractions.Theassistantalsofeaturesintelligentanalysis,intelligentreporting,andintelligentQ&Afunctions.ByleveragingAIalgorithms,itproactivelyanalyzesandreportsonchargingsiteenergyconsumption,equipmentstatus,anduserchargingdemand,andoptimizessiteoperationsandschedulingtoenhanceoverallefficiency.

/

SmartVoiceAssistantforChargingApp

IntelligentAnalysisOperationInterfaceofCSMSAssistant

(2)Domain-specificlargelanguagemodelempowerment:BuildingintegratedPV&ESSmanagementsolutionsAsthedemandforchargingnewenergyvehicles(NEVs)continuestogrow,chargingsitesfaceseveralchallenges,includinginsufficientpowersupply,highcostsforgridexpansion,highenergyoperationcosts,weakchargingservicecapacity,andlowchargingutilization.

AutelhasdevelopedintegratedPV&ESSmanagementsolutionsthatareexceptionallysafe,highlyeconomical,andhighlyefficient.Withchargingastheentrypointandsmartenergymanagementasthecore,thesolutionintegrates“PV,storage,charging,edgecomputing,andcloudcomputing”.Byleveragingpowergenerationandloadforecasting,combinedwithsuchalgorithmsasenergyoptimization,intelligentcharging,intelligentscheduling,andbatterydiagnostics,thesolutionensuresreliablepowersupplyforchargingdemand,enablesdynamiccapacityexpansion,reducesdemandcharges,andbalancespeakandoff-peakloads.Thisapproachallowscustomerstoachievehighestchargingutilizationatoptimalcosts,improveschargingrevenues,andsignificantlyshortenstheinvestmentpaybackperiod.

TheproductsolutionincludesElectricVehicleEnergySystems(EVES),Photovoltaic-EnergyStorageSystems(PV-ESS),EnergyManagementSystems(EMS),andtheintegratedcloudplatforms.Autelfullyutilizesscenariodataandextensiveindustryknowledgetobuildadeeplyoptimizedverticaldomain-specificlargelanguagemodel,developingthe“PV&ESSAgents”seriestoestablishdifferentiatedcompetitiveadvantagesthroughself-organizing,self-learning,self-evolvingsitenetworkswithsite-specificoptimizationstrategies.Thisenablesintelligentlifecyclemanagementcoveringplanning,construction,maintenance,optimization,andcapacityexpansion,increaseschargingcapacityutilizationbymorethan20%,reducescomprehensive

/

electricitycostsbyupto45%,lowerstheriskofunexpectedenergyfailuresbymorethan50%,andultimatelydeliverssustainablevaluegrowthforcustomers.

2.RapidbusinessexpansionandglobalmarketsuccessesOurcustomerbaseofdigitalandintelligentpowersolutionsspansawiderangeofsectors,includingchargingoperators,energycompanies,publicutilities,automotivemanufacturers,fleets,andretailchains,withnearly100corecustomers.Autelhasestablishedstrategicpartnershipswithleadingglobalenergyfirms,majorretailchains,andwell-knownautomakers.In2024,leveragingitsexceptionalproductcapabilitiesandcutting-edgesolutions,Autelhasachievedremarkablesuccessacrossmultipleregionalmarketsworldwide.

?IntheNorthAmericanmarket,wecontinuedtoconsolidateandexpandits

presence,andsuccessfullysignedagreementswithseveraltop-rankedglobalenterprises.Thenumberofstrategiccustomersandthescaleofordershaveincreasedsignificantly.?IntheEuropeanmarket,Autel’soperationsextendacrossmaturemarketssuchastheNetherlands,theUK,France,Germany,andNorthernEurope,whilealsoacceleratingitsexpansionintogrowingmarketsinSouthernandEasternEurope.Autelhassuccessfullysignedagreementswithmultipleglobalandregionalkeycustomersandformedstrategicpartnershipswithinternationallyrenownedenergycompaniestojointlypromotetheconstructionandadoptionofnewenergychargers.Meanwhile,inotherhigh-potentialregionsworldwide,Autelcontinuestostrengthenitsmarketingsystemandstrategicdeployment,andadoptsadiversifiedglobalmarketstrategytonavigatepotentialmarketfluctuationsandpoliticalrisks.?IntheAsia-Pacificmarket,AutelhasmadeprogressinmaturemarketssuchasAustralia,Japan,andSingapore,whileacceleratingexpansionintoemergingmarketslikeThailand,Malaysia,andVietnam.Strategiccooperationprojectswithtop-tierautomotivemanufacturersandSoutheastAsianpublicutilitycompaniesarebeingimplemented.?Inotherhigh-potentialglobalmarkets,ournewenergybusinesshasexpandedtoTurkey,Israel,theUAE,Brazil,andMexico,furtherstrengtheningitsglobalbusinessfootprint.?Ine-commerce,Autel’sself-operatede-commerceplatformandonlineofficial

/

websitehaveexperiencedrapidgrowth.Autelhasdisruptedthemarketdominanceofleadingbrandsintheresidentialchargersector.AutelhassecuredtoprankingsduringkeymarketingeventsonAmazoninNorthAmericaandCanada,sellingtensofthousandsofchargersonlinethroughouttheyear.ThisexpansionhasopenednewgrowthpathwaysandsignificantlyincreasedAutel’sprivatedomaincustomerbase.Withusexpandingourglobalbusinesslandscape,ournewenergyfootprintcontinuestoflourishacrossmultiplemarkets.Thisnotonlyhighlightsitsexceptionalcapabilitiesintechnologicalinnovation,marketexpansion,andcustomerservicebutalsosignificantlycontributestotheglobalenergytransitionandthepromotionofgreen,low-carbondevelopment.

3.StrengthenlocalizationinoverseasmarketsandenhancebrandinfluenceSincetheforward-lookingdeploymentofdigitalandintelligentpowersolutionsin2021,Autelhasactivelyadvancedthelocalizationofitsoverseasoperations,focusingonbuildingandnurturinglocalmarketingteamswhilefurthersolidifyingandexpandingitsglobalsalesnetwork.AsoftheendoftheReportingPeriod,Autelhasestablishednearly20overseasregionalheadquarters,salesplatforms,andsubsidiariesworldwide.Additionally,itcontinuestoexpandanddeepenpartnerships,andstrengthenscollaborationwithlocalgovernments,industryorganizations,communities,andmajorenterprisestoenhancemarketinfluenceandcompetitiveadvantage.

In2024,Autellaunchedthe“Evergreen”GlobalESGTree-plantingCampaignbypartneringwithsixleadingnon-profitorganizationsacrosskeyglobalregions.Thisinitiativehassupportedmorethan20strategiccustomersinreinforcingtheirglobalgreenbrandimage,anddemonstratedAutel’sleadership,responsibility,andinfluenceinthe

ShowcaseofAutel’sSelectedProjectsofDigitalandIntelligentPowerSolutionsUSA

USA

Denmark

Holland

Mexico

Mexico

Malaysia

Singapore

/

industry.DuringtheReportingPeriod,Autelhosted95exhibitionsworldwide,establishedconnectionswithmorethan70leadingverticalmediaoutlets,andreceivedmultipleregionalmarketawards.Itstotalmultichannelexposureexceeded6billionviewsthroughouttheyear,whichfurtherstrengtheneditspositioningasanindustrysolutionsexpert.TheseeffortshavesignificantlyenhancedAutel’sbrandinfluencewhilereaffirmingitscommitmenttocontinuousinnovationandprogress.

iii.Integratedair-groundclusterintelligentsolutions–LaunchAI+Roboticbusiness:Usheredinthethirddevelopmentcurve

Insmartenergyandintelligenttransportation,traditionalmanualinspectionandmonitoringmethodscannolongermeetthediversedemandsofdifferentscenariosandworkingconditions.Meanwhile,drone-basedinspectionsfacechallengessuchashighcoordinationrequirementsbetweenoperatorsanddrones,lowefficiency,weakscalability,andlimitedcommercialviability.Withtherapiddevelopmentofthelow-altitudeeconomyandembodiedintelligenceindustries,theintegrationofaerialintelligentagentsandgroundrobotsisemergingasakeytrend.Theseintelligentroboticsystemsprovideasmarterandmoreefficientapproachtolarge-scaleinspections,makingintegratedair-groundsolutionsatransformativeforceacrossindustries.

Withadeepunderstandingofcustomerneeds,Autellauncheditsintegratedair-groundclusterintelligentsolutionduringtheReportingPeriod.ThissolutionintegratesanAIPaaSplatform,threeverticaldomainmodels,andanembodiedintelligencehardwarematrix,whichincludesaerialintelligentagents,groundrobots,andcounter-dronesystems.Itenablesfull-chainconnectivityamongindustriallargemodels,intelligentbrains,smartroboticactuators,andscenariodata,allowingforefficient,

Autel“Evergreen”GlobalESGTree-plantingCampaignEurope

Europe

US

Asia-PacificRegion

LatinAmerica

IMEA

China

LatinAmerica

/

intelligent,continuous,andrapidself-evolvement.Thisacceleratesdigitalization,automation,andair-groundintegrationintheindustrywhilesignificantlyreducingcustomercosts,improvingefficiency,andenhancingoperationalqualityandoutcomes.?Teamdevelopment:Autelhasbuiltahighlycompetitivecoretechnologyteam

withextensiveexpertiseinAIlargelanguagemodels.Teammembershavesuccessfullydevelopedandcommercializedgenerativedomain-specificAImodels,ensuringourlong-termleadershipinAI-drivenadvancements.?Modelcapabilities:Autelcontinuestocollaboratewithleadingglobalanddomesticbasiclargelanguagemodels,includingChatGPT,DeepSeek,Llama,andQwen.Tailoreddomain-specificmodeltrainingisconductedbasedonbusinessneeds,withongoingalgorithmicinnovationandapplicationdevelopment.AutelhasfullyintegratedandlocallydeployedDeepSeek,andleverageditstrainingprocessestoacceleratethewidespreadadoptionofintegratedair-groundsolutionswithafocusoninspection-orientedanddomain-specificlargelanguagemodels,particularlyintheenergyandtransportationsectors.?Customerdevelopment:DuringtheReportingPeriod,Autelactivelyengagedin

jointinnovationandcollaborationwithcustomers.ByintegratingAIwithair-groundintelligentagents,ithaspioneeredfullydigitalandintelligent,autonomous,andintegratedair-groundsolutions,andsuccessfullydeployedtheminapplicationssuchasoilfieldsandhighways.?Ecosystemdevelopment:Weareactivelypursuingstrategiccollaborationand

jointinnovationwithecosystempartners,focusingonkeyindustryscenariosoftheenergysector,suchasinspectionsandoperation.Itisco-developingindustry-specificsolutionsthatarehighlycompetitive,innovative,andintegratedair-ground,featuringautonomousinspection,autonomousoperation.Additionally,partnershipshavebeenformedforthejointdevelopmentandpromotionofscenario-drivenroboticproductsandintegratedair-groundsolutions.?Infrastructuredevelopment:AutelhasestablishedtheAutelMaxwellAI

Cluster,featuringinfrastructureclustermanagementofcomputingpower,middleware,andnetwork.Thisplatformprovidescomprehensivebusinesssupport,includingAImodelrapiddeployment(MachineLearningOperations(MLOps)),datamanagement,modeltraining,agentdevelopmentandapplication,andmodelmonitoringandmanagement.Furthermore,AutelhaslaunchedtheAutelMaxwell

/

RoboticsLab,deeplyintegratingAI,robotics,sensortechnology,andcomputervisiontotechnicallydrivetheintelligentupgradeofitssolutions.iv.Forward-lookingglobalsupplychaindeploymenttoproactivelyaddresstraderisksSinceitsestablishment,Autelhasinherentlypossessedaglobalizednatureandembracedaglobaldevelopmentstrategy.Againstthebackdropofescalatinggeopoliticalrisksandintensifyinginternationaltradefrictions,Autelproactivelyinitiatedthedeploymentofoverseasfactoriesasearlyas2018.Asofnow,ithasestablishedthreemajorproductionbasesinShenzhen,China;Haiphong,Vietnam;andNorthCarolina,USA,formingacomprehensiveglobalmanufacturingandsupplychainnetwork.

?TheHaiphong,VietnamfacilityhasbecomeakeypillarofAutel’sglobal

strategyafteryearsofmeticulousoperationsandcontinuousoptimization.Withitsmatureoperationsandmanagement,strongsupplychainadvantages,andhighlyefficientlocalizedproductionmodel,thefacilitynotonlymitigatesrisksassociatedwithfluctuationsintheinternationaltradeenvironmentbutalsoleveragesVietnam’slaborresourcesandcostefficienciestoenhancethecompetitivenessofourproductsintheglobalmarket.?TheNorthCarolina,USAfacility,whichofficiallycommencedproductionatthe

endof2023,representsAutel’sactiveresponsetotheNationalElectricVehicleInfrastructure(NEVI)programandtheBuildAmerica,BuyAmericaAct(BABA).Moreimportantly,itservesasacriticalsafeguardagainstpotentialtraderisks,ensuringcompliancewithUSdomesticmanufacturingrequirements.Thefacilityalsostrengthenslocalsupplychainresilience,allowingforcloserproximitytocustomers,fastermarketresponse,andenhancedcompetitiveness.?DuringtheReportingPeriod,wefurtherexpandedandrefinedourwarehousingsysteminEuropeandNorthAmerica,achievingcomprehensivecoverageofregionalmarketsandcomprehensivelyimprovingsupplycapabilitiesanddeliveryspeeds.Additionally,wehavestrengthenedprecisionlogisticsmanagement,andenhancedlogisticsefficiencytoensurecustomersreceivefasterandmorereliableproductdeliveries.ThisstrategicglobalsupplychaindeploymentnotonlyreinforcesAutel’sabilitytoadapttoevolvinginternationaltradeenvironmentsandmitigaterisks,butalsooptimizeslocalizedproductionandwarehousinglogisticsandimprovesresponsivenessandmarket

/

competitiveness.TheseeffortslayasolidfoundationforAutel’slong-term,high-qualitybusinessgrowth.

v.AdvancedigitalandintelligenttransformationandembraceAIacrossAutel

1.DeependigitalandintelligenttransformationtocontinuouslyoptimizeoperationalefficiencyDuringtheReportingPeriod,weaccelerateddigitalandintelligentdevelopmentandAI-driventransformation,continuouslypromotedmanagementinnovationandbusinessevolution,andconstantlyoptimizedbothinternalandexternaloperationalefficiencytostrivetobuildanAI-drivenintelligentbusinessecosystem.AutelhasmadesignificantprogressinseveralkeyprojectsduringtheReportingPeriod:

TheShenzhen,ChinaFacilityTheNorthCarolina,USAFacilityTheHaiphong,VietnamFacilityBusinesssector

Businesssector	Projectname	Projectachievements
R&D	TheIPDReconstructionProject	Establishedamanagementsystemforthesustainablelaunchofcompetitiveproducts,andcreatedavaluechainsupportsystemdrivenbyprocessesacrossR&D,production,sales,andservice
	R&Ddigitalization	Achievedend-to-endbusinessdatamanagementandenhancedR&Ddesignefficiency
	TheAIDevOpsPlatform	IntegratedtheintelligentlifecycleR&Dmanagementofprojectmanagement,demandanalysis,systemdesign,development,andtesting,tosignificantlyimproveR&Defficiency
Marketing,sales,andcustomerservice	TheITRGlobalServiceDigitalTransformationProject	Continuouslyoptimizedproductreliabilityindicatorsandafter-salesserviceindicatorstosignificantlyimprovethecustomerserviceexperience
	TheAIIntelligentCallAgent	Supportseightlanguagesandprovides24/7automatedservice
Supplychain	MESandWMSprojects	Enabledwhole-processmaterialqualitytraceabilityandcomprehensivedatacollectionthroughouttheproductionprocess
Functions	TheIDSBusinessManagementDashboardProject	EstablishedacomprehensiveAutelindicatorsystem,improveddecision-makingefficiencyandmanagement,andenabledoperationalvisibility,issuecontrol,andanomalytraceability
IT	Infrastructure	SignificantlyenhancedITenvironmentstabilityandsecurity,optimizedinfrastructuredeploymenttoimproveavailability,andreducecosts

/

2.EmbracedAItransformationacrossAuteltofullyactivateteampotentialDuringtheReportingPeriod,weactivelypromotedAIlearninginitiatives,fosteringacompany-wideenthusiasmforAIeducation.Atotalofsix“AILectures”wereheld,featuringindustrytechnologyexpertswhosharedinsightsonAItrendsandpracticalapplications.Morethan1,500employeesparticipatedinthesesessions,significantlyenhancingtheirdigitalmindsetandskills.Additionally,AutellaunchedtheAIHackathon“AutelAIEfficiencyEnhancementCompetition”,encouragingdepartmentstoidentifyAI-drivenefficiencyimprovementsandfosteringacultureofinnovationandcollaboration.AsofFebruary2025,duringtheinitialempowermentphaseofthecompetition,wesuccessfullyhosted16trainingsessions,withmorethan2,100employeesparticipating,averaging3.2hoursoflearningperperson.ThetrainingcoveredAIknowledge,automatedprogramming,agent-basedapplications,toolutilization,andplatformdevelopment,effectivelysupportingemployees’self-developmentandequippingAuteltomaintainitscompetitiveedgeintheeraofintelligenttransformation.

ATrainingSessionof“AILectures”

AIHackathon–“AutelAIEfficiencyEnhancementCompetition”

Analysisandprospectofnon-CASperformancechanges:

□Applicable√NotapplicableIIPrincipalOperations,BusinessModels,IndustryOverviewandR&DProgressoftheCompanyduringtheReportingPeriodi.Principaloperations,productsandservices

1.PrincipalproductsDuringtheReportingPeriod,weremainedfocusedondigitalandintelligentdiagnosticsaswellasnewenergyintelligentcharging,deliveringindustry-leadingsolutions.

/

Theseincludeintelligentautomotiveadvanceddiagnosticandtestingsolutions,full-scenariointelligentchargingnetworks,andintegratedPV&ESSmanagementsolutions.Ourkeyproductsareoutlinedbelow,alongwiththecorrespondingillustrations:

Primarycategory	Secondarycategory	Productdescription	Illustration
Automotiveadvanceddiagnosticproducts	Advanceddiagnosticproductsforcombustion-poweredpassengerandcommercialvehicles	Theproductsleveragecomputertechnologytoconductfullyautomateddiagnosticsonin-vehicleelectroniccontrolsystems,andenableuserstoidentifyfaulttypes,causes,andlocationsforvehiclemaintenance.Supportingawiderangeofmainstreambrandsandmodels,thesystemfeaturesbroadvehiclecoverage,highaccuracy,intelligence,andeaseofuse,andprovidescustomerswithadvanceddiagnosticservices,makingitanidealsolutionformediumandlargeindependentmaintenanceshops.IntegratedwithAutel’sself-developedlargelanguagemodelsspecifictoourindustriesoffocus,thesystemfeaturesAIVoiceAgentandAIInspectionAgent.
	Advanceddiagnosticproductsandtoolchainsfornewenergyvehicles	TheNEVDiagnosticSystemsupportshigh-voltagesystemdiagnostics,andenablesrapidbatterypackdataretrievalanddetailedbatteryinformationanalysis.Integratedwithspecializedhigh-voltagelithiumbatterymaintenancetoolchainsolutions–includingbatterychargers-dischargers,cellbalancingsystems,batterypackhermeticitytesters,andinsulationresistancetesters–thesystemprovidesadvanceddiagnosticsforbothin-vehicleandoff-vehiclebatterymaintenancescenarios.PoweredbyAutel’sself-developedlargelanguagemodelsspecifictoourindustriesoffocus,thesystemfeaturesAIVoiceAgentandAIInspectionAgent.
TPMSproducts	TPMSproducts	TheTirePressureMonitoringSystem(TPMS)Sensorisauniversalintelligentsensortirepressuresensorthatcanbewirelesslyprogrammedwitha

/

		dedicatedtool,ensuringcompatibilitywithvariousvehiclebrands.TheTPMSSystemDiagnosticandMatchingToolisacompact,portablehandhelddevicespecificallydesignedfortirepressuresystemtestingandtirepressuresensoractivation,programming,andlearning.Itsupportsarangeoffunctions,includingreading/writingIDs,readingandclearingcodes,turningofffaultindicators,andreadinganddisplayingdetailedsensorparameters.Additionally,itcanrecordandreplaysensordata,aswellasidentifysensorpositionsandIDs.
ADASproducts	IntelligentdiagnosticandcalibrationtoolsforADAS	TheproductintegratescalibrationfunctionsforAdvancedDriverAssistanceSystems(ADAS),includingadaptivecruisecontrol,lanedeparturewarning,nightvision,andblindspotdetection.Bycombiningcalibrationtools,diagnosticsoftware,andcalibrationmethods,itsignificantlyenhancesthecalibrationefficiencyofADAS.
Cloud-baseddiagnosticsoftwareservices	Vehiclemodelupdates	Theproductoffersvehiclemodelupdatesandfunctionalityexpansionservicesfordiagnosticandtestingapplicationsoftware.
Intelligentchargingnetworksolutions	ACchargers	TheproductincludesACchargerscompliantwithEuropeanandAmericanstandards,withpowerratingsfrom7kWto22kW.Designedprimarilyforhomesettings,shoppingmalls,andofficebuildings.Theself-developedAIVoiceAssistantenablespersonalizedandintelligentcharging.Theproducthasobtainedmultiplegloballyrecognizedcertifications,includingEuropeanConformity(CE),Technischer?berwachungsverein(T?V,theTechnicalInspectionAssociation),UKConformityAssessed(UKCA),UnderwritersLaboratories(UL),theCanadianStandardsAssociation(CSA),

/

	Physikalisch-TechnischeBundesanstalt(PTB,theNationalMetrologyInstituteofGermany),theCaliforniaTypeEvaluationProgram(CTEP),ENERGYSTAR,theChinaQualityCertification(CQC),Singapore’sTelecommunicationRegulation25(TR25),LetterofNoObjection(LNO).
DCchargers	Theproductincludesintegratedandsplit-typeDCchargers,aswellasultra-fastchargersandMegawattChargingSystem(MCS)terminals,allcompliantwithEuropeanandAmericanstandards,withpowerratingsrangingfrom40kWto1,440kW.Designedprimarilyforhighwayserviceareas,petrolstations,fleets,andshoppingmallchains,thesechargingsolutionsofferpersonalizedandintelligentcharging.Thecommercialultra-fastcharger,featuringasingle-gunmaximumpowerof480kW,enablesa10-minutechargeforanapproximaterangeof600kilometers.Additionally,itsupportsMCScharging,withamaximumcurrentof1,500Aandchargingpowerofupto1.2MW.
Operationandmaintenancemanagement	ByleveragingAI-poweredpredictivemaintenance,thesystemenablesproactiveinspectionstoreducefailurerates.Additionally,itfeaturesbasicremotediagnosticsandlimitedremotemaintenancecapabilities,effectivelyminimizingmanualoperationandmaintenancecosts.
Cloud-basedchargingplatform	Thesystemoffersacomprehensivesuiteoffunctions,includingchargermanagement,siteoperations,businessanalysis,multitenantmanagement,andintelligentcharging,significantlyenhancingmanagementefficiencyforoperators.Poweredbyalargelanguagemodelspecifictoourindustriesoffocus,theCSMSAIIntelligentAssistantprovideschargingsiteoperatorswithmoreefficientmanagementtools.

/

IntegratedPV&ESSmanagementsolutions	Energyedgecontrollers	Thesystemprovidesdatacollection,analysis,andprocessingcapabilitiesacrossmultipleports,protocols,brands,anddevicetypes.Itsupportsedgecomputingandstorage,alongwithcloud-edgecollaborativeschedulingstrategies,enablingreal-timemonitoringofenergysystemoperationsanddeliveringcomprehensiveandaccurateenergydatasupporttousers.
	Energymanagementplatform	Thesystemoffersarangeoffunctions,includingmultisiteenergymonitoring,siteenergyanalysis,energyoptimizationandAI-drivenschedulingalgorithms,integratedequipmentmanagement,devicefaultalarms,andintelligentearlywarning.Itfacilitatessmoothgridpowerexpansion,reducesenergycosts,andimproveschargingutilizationefficiency.Meanwhile,itprovidesuserswithcomprehensiveandaccurateenergydatasupportanddecision-makingrecommendations.

2.DevelopmentsofprincipalproductsandservicesWehaveimplementedan“AI+”strategyandestablishedthreemajorbusinessecosystems–digitalandintelligentdiagnostics,digitalandintelligentpowersolutions,andAI-poweredroboticssystems–todrivethedeepintegrationofAIwithbusinessplans:

●Sinceitsfoundingin2004,Autelhasremainedfocusedondigitaland

intelligentdiagnostics.Drivenbytechnologicalinnovation,ithasdevelopedleadingsolutions,includingautomotiveadvanceddigitaldiagnosticsolutions,TPMSsolutions,andADASandfour-wheelalignmentdetectionsolutions.Additionally,Autelcontinuestocenteronthewholeprocessofautomotivediagnosisandmaintenance,leveragesgenerativeAItoempoweradvanceddiagnosticandtestingsolutionsandnewenergybatterytestingsolutions,andaimstocomprehensivelyimproveautomotivediagnosticefficiencyanduserexperience.

/

●Inrecentyears,Autelhascapitalizedonthegrowthopportunitiesintheoverseas

newenergychargingindustry,andexpandeditsfootprintinglobalsmartenergymarkets.Ithasdevelopedend-to-endsmartchargingnetworksand,byintegratinggenerativeAI,builtavertical-domainlargelanguagemodeltoenableintegratedPV&ESSmanagementsolutions.

●EmbracingtransformativeAIadvancements,our2024strategicinitiativefocuses

onAI-poweredroboticssystemsforsmartenergyandintelligenttransportationapplications.Wedeliverintegratedair-groundclustersolutionsfeaturingdigitalintelligence,autonomousoperations,andmulti-deviceheterogeneouscoordinationacrossunifiedsmartscenarios.

ii.Principalbusinessmodels

1.Digitalandintelligentdiagnostics

(1)ProcurementmodelAutelfollowsa“production-basedprocurement”modeltoformulateprocurementplansanddetermineprocurementquantitiesbasedonsalesforecasts,transportationmethods,marketsupply,inventory,andproductionfactors.Theprocurementprocessprimarilyincludesformulatingprocurementplans,issuingpurchaseorders,andmanagingdeliveryandpayment.Themainprocurementitemsincluderawmaterialsandoutsourcedprocessingservices.RawmaterialsprimarilyconsistofIntegratedCircuit(IC)chips,LiquidCrystalDisplays(LCDs),resistors,capacitors,PrintedCircuitBoards(PCBs),

AutelhasestablishedAIasitscoredrivertobuildamultitierbusinessecosystem.ThirdgrowthfrontierAI-poweredroboticssystemsIntegratedair-groundclusterintelligentsolutions

ThirdgrowthfrontierAI-poweredroboticssystemsIntegratedair-groundclusterintelligentsolutionsSecondaryhigh-growthengineDigitalandintelligentpowersolutionsEnd-to-endsmartchargingnetworksIntegratedPV&ESSmanagementsolutions

Secondaryhigh-growthengineDigitalandintelligentpowersolutionsEnd-to-endsmartchargingnetworksIntegratedPV&ESSmanagementsolutions

PrimarygrowthpillarIntelligentmaintenanceAutomotiveadvanceddiagnosticsolutionsTPMSmonitoringsolutionsADASandfour-wheelalignmentsolutionsSoftwareupgradeservices

/

diodes,transistors,andotherelectroniccomponents,whicharetypicallyprocuredashigh-qualityindustrial-gradeproducts.Othermaterialsincludestructuralcomponents,packagingmaterials,andproductionconsumables.OutsourcedprocessingservicesmainlycoverSurfaceMountTechnology(SMT)processingattheShenzhenManufacturingCenter,handledbycontractmanufacturers.Duetothelimitedavailabilityofoutsourcedprocessingservicesinthelocalmarket,theoverseasVietnamManufacturingCenterestablisheditsownSMTproductionlinein2020.

(2)ProductionmodelThecoretechnologyofAutel’sproductsliesinautomotivediagnosticandtestingapplicationsoftware,whichisembeddedintohardwareterminalstoenablerelateddiagnosticandtestingfunctions.Weprimarilyfocusonproductassembly,functionaltesting,andqualityinspection.Productionfollowsa“sales-drivenproduction”model,wherearollingproductionplanisformulatedweeklybasedonforecastedsalesvolumesforthecomingmonths.Productionschedulingisdynamicallyadjustedbasedoncapacityandrawmaterialavailability.TheMarketingCenterisresponsiblefororganizingsalesforecastreviewsandissuingproductdemandplanstothePlanningDepartmentunderSupplyChainCenter,whichoverseesoverallproductionplanning,materialoutsourcing,andexpediting.TheProductionDepartmentisresponsiblefordetailedproductionscheduling,productionprogresscontrol,qualityverificationofmaterials,semi-finishedproducts,andfinishedproducts,aswellastechnicalissueresolutionandsupportduringproduction.

(3)SalesmodelAutelcategorizesitssalesmodelsintodistributionsalesanddirectsales,basedontheintendeduseofitsproductsandservices.Givendownstreammarketdemandandproductcharacteristics,advanceddiagnosticproducts,TPMSproducts,andADASproductsprimarilyfollowadistributionsalesmodel,supplementedbydirectsales.Distributioncustomersincludelargeretailchains,automotivepartsdistributors,ande-commerceplatforms.Underthedistributionsalesmodel,customerspurchaseproductsfromAutelandresellthemtosub-distributorsorend-users.Directsalescustomersmainlyincludelargeautomotivemaintenancechainstores,insurancecompanies,retailers,andend-userswhopurchasesoftwareupgradesviasmartterminals.Forcloud-basedsoftwareservices,AuteladoptsasubsequentsoftwareupgradechargingmodelinmarketssuchasNorthAmericaandEurope.Underthismodel,oncethefreesoftwareupgradeperiodincludedwithsmart

/

terminalproductsexpires,usersshouldpurchasesoftwareupgradesviaonlinerenewalorprepaidupgradecardstoaccesssubsequentcloud-basedsoftwareservices,suchasvehiclemodelupdatesandfeatureexpansions.Foronlineupgrades,end-userspayupgradefeesviacreditcardsorthird-partypaymentplatformssuchasPayPalandupgradetheirproductsviaAutel’scloudplatforms.Forupgradesviaprepaidupgradecards,end-userspurchaseprepaidupgradecardsfromdistributorsandusetheuniqueserialnumberonthecardtoupgradetheirproductsviaAutel’scloudplatforms.

2.Digitalandintelligentpowersolutions

(1)ProcurementmodelWeforecastcustomerordersbasedonmarkettrendsanddeterminethetotalandactualmaterialdemandthroughMaterialRequirementsPlanning(MRP)calculations,ensuringsufficientsafetystockbeforeissuingpurchaseorderstosuppliers.Byleveragingcentralizedprocurementandoverseassupplychainadvantages,Auteloptimizescostefficiency.

(2)ProductionmodelTheproductionofchargersfollowsa“sales-drivenproduction”model,whereproductionplansandappropriatestocklevelsaredeterminedbasedonsalesforecastsandexistingorderdata.Additionally,Autelconsiderslocaltariffs,relevantincentives,andlawsandregulationstoselectthemostcost-effectiveproductionlocation.

(3)SalesmodelAutelcategorizessalesmodelsintodistributionsalesanddirectsales,dependingontheintendeduseofitsproductsandservices.Givendownstreammarketdemandandproductcharacteristics,chargerproductsprimarilyfollowadistributionsalesmodel,supplementedbydirectsales.Distributioncustomersincludelargeretailchains,automotivepartsdistributors,chargerdistributors,ande-commerceplatforms.Underthedistributionsalesmodel,customerspurchaseproductsfromAutelandresellthemtosub-distributorsorend-users.Directsalescustomersprimarilyincludenewenergychargeroperators,chargerinstallers,energycompanies,fleets,residentialpropertymanagers,insurancecompanies,retailers,andlargeautomotivemaintenancechainstores.

/

iii.Industryoverview

1.Developmentstages,basiccharacteristicsandmaintechnologicalbarriersoftheindustriesIntheautomotiveadvanceddiagnosticandtestingindustry,wearededicatedtotheR&D,production,sales,andserviceofautomotiveadvanceddiagnosticandtestinganalysissystems,aswellasautomotiveelectroniccomponents.Inthenewenergysector,AutelfocusesondeliveringintelligentchargingnetworksolutionsandintegratedPV&ESSmanagementsolutionstocustomers.IntheAI-poweredroboticsindustry,Autelinitiallyspecializesinsuchapplicationscenariosasintelligentinspectionandintelligenttransportation,offeringcustomersintegratedair-groundclusterintelligentsolutions.

(1)Theautomotiveadvanceddiagnosticandtestingindustryisontherise

1)Industrydevelopmentstageandbasiccharacteristics

●TheautomotiveadvanceddiagnosticsmarketgrowsbiggerwhilenewgrowthisseenintheNEVaftermarket.

Withtherapiddevelopmentoftheglobaleconomyandsociety,factorssuchastheincreasingnumberofvehiclesinoperation,theriseinaveragevehicleage,andthegrowinglevelofautomotiveelectrificationhavedriventhedemandforintelligentanddiversifiedservices,leadingtothecontinuousexpansionoftheautomotiveadvanceddiagnosticandtestingindustry.

Furthermore,theadvancementoftheInternet,bigdata,andAIisacceleratingthedigitaltransformationandindustrialconnectivityoftheautomotiveaftermarket.Thetrendtowardelectrificationrequiresautomotiveadvanceddiagnosticproductstoexpandbeyondinternalcombustionengine(ICE)vehiclepowersystemstoelectricmotors,electroniccontrolsystems,andbatterysystemsintheeraofelectrification.Meanwhile,intelligentizationhasdriventhewidespreadadoptionofADAS,which,whilereducingcollision-relatedmaintenances,hassignificantlyincreasedtheneedformaintenanceandreplacementofintelligentsensors.Thishasledtotheemergenceofaspecializedaftermarketsegmentdistinctfromtraditionalvehicles.ThereisvastgrowthpotentialfortheNEVaftermarket,particularlyinprofessionalservicessuchasbatteryreplacementandmaintenance,chargingsystemdebuggingandsoftwareupdates.

●TPMSSensor+ADASIntelligentDetectionandCalibration,HugeMarketSpaceinNicheSegments

/

TheTirePressureMonitoringSystem(TPMS)monitorskeydatasuchastirepressure,temperature,acceleration,andbatterypowerinreal-timethroughsensorsinstalledinsidethetires,andalertsthedriverwhenabnormalitiesoccur.Asanessentialautomotivecomponentensuringdrivingsafety,majorcountriesandregionsaroundtheworldhavepassedlegislationmandatingtheinstallationofTPMSinpassengervehiclesandcommercialvehiclesuponleavingthefactory.TheservicelifeofaTPMSsensoristypicallydesignedas6-8years,andonceitslifespanexpires,thevehiclerequiresanewTPMSsensortoreplacetheoldonewhenitissuesanalert.ThemarketspaceforthereplacementdemandofTPMSsensorsinexistingvehiclesissubstantial.AccordingtoaCanalysreport,inQ32023,theglobalshipmentvolumeoflightvehiclesequippedwithL2+AdvancedDriverAssistanceSystems(ADAS)reached630,000units,accountingfor3.1%oftheoveralllightvehiclemarket,andthepenetrationrateisexpectedtoreach5.5%in2024.ForvehiclesequippedwithADASsystems,anydisassemblyormaintenanceofvulnerablecomponentssuchasfrontbumpers,rearbumpers,frontwindshields,andsidemirrorswillrequirerecalibrationoftheADASsensors,otherwise,theADASsystemwillnotfunctionproperlyormaygeneratefalsealerts,affectingdrivingsafety.Withtheincreasingintelligenceofvehicles,theinstallationrateofADASsystemscontinuestorise,andthedemandforintelligentdetectionandcalibrationofADASsystemsintheautomotiveaftermarketwillcontinuetoincrease.

2)Keytechnicalbarriers

Modernvehiclesarehighlyelectronic,requiringindustryparticipantstopossesslong-termtechnicalR&D,extensivedataaccumulation,andstrongR&Dandinnovationcapabilitiestodevelopdiagnosticproductswithcomprehensivefunctionalitiesthatkeeppacewiththeevolutionofautomotiveelectronicsystems.Asaresult,theautomotivediagnosticindustryischaracterizedbystrongindustry-specificattributesandhightechnologicalbarriers.KeytechnologicalfactorsinfluencingAutel’smarketcompetitionintheautomotiveadvanceddiagnosticandtestingindustryincludevehiclemodelcoverage,accuracyofdiagnosticandtestingresults,functionalcompleteness,intelligentandconvenientuse,andsoftwareupdatespeed.

Additionally,inthehighlycompetitiveglobalmarket,industryparticipantsmustcontinuouslyaccumulateandoptimizedatarelatedtovariousautomotivebrands,models,andcommunicationprotocolstodevelopuniqueinformationdatabasesandcorealgorithmlibraries.Thisensureshighdiagnosticaccuracyandfastresponsetimeswhilemaintaining

/

independencefromautomakersandthird-partytechnologylicensing,therebyestablishingstrongintellectualpropertybarriers.

(2)Therapidgrowthofthenewenergysector

1)IndustrydevelopmentstageandbasiccharacteristicsInrecentyears,manycountriesandregionsworldwidehavedesignatedthedevelopmentofNEVsasakeystrategicinitiativetoaddressclimatechangeandoptimizeenergystructures,andformulatedcomprehensiveplanstoreplacetraditionalICEvehicleswithNEVs.Astheglobaladoptionofelectricvehicles(EVs)continuestoaccelerate,theelectrificationtrendintheautomotiveindustryhasbecomeirreversible.Therapiddeploymentofcharginginfrastructurebygovernmentsworldwidepresentssignificantgrowthopportunities.Accordingtoauthoritativeforecasts,theoverseaschargingmarketsizeisexpectedtoreachapproximatelyRMB80billionin2025,andisexpectedtogrowtoapproximatelyRMB120billionin2030,withvastmarketopportunities.

?Asubstantialportionofthesubsidies(USD7.5billioncumulatively)underthe

NEVIandChargingandFuelingInfrastructure(CFI)Actshasalreadybeenallocated.Theremainingfundsaresubjecttovariouslegislativeconstraints,withminimalexpectedimpactfromtheTrumpadministration.?TheAlternativeFuelsInfrastructureRegulation(AFIR)oftheEuropean

UnionofficiallycameintoeffectinApril2024,aimingtoacceleratethedeploymentofcharginginfrastructureacrossEUmemberstates.Additionally,multiplefundingprogramshavebeenintroduced,includingtheAlternativeFuelsInfrastructureFacility(AFIF),Germany’sDeutschlandnetz,andtheUK’sRapidChargingFund(RCF).Collectively,theseinitiativesprovideseveralbillionEURinsubsidiestosupporttheconstructionofpublicchargers.?Emergingmarketshavelaunchedlarge-scalechargerconstructionplanssuccessively.Forexample,Malaysiaaimstoinstall10,000chargersby2025,andactivelyencouragesprivatesectorparticipation.SaudiArabiaplanstodeployapproximately20,000publicchargersbytheendof2025andexpandthisto50,000by2030.Meanwhile,LatinAmericancountriesarecollaboratingtoestablishaninterconnectednewenergychargingcorridor,ensuringthatpublicchargingsitesareplacedatintervalsofnomorethan200km,promotingthewidespreadadoptionofcross-borderEVtravel.

/

AccordingtoestimatesfromtheInternationalEnergyAgency(IEA),thenumberofpublicchargersintheUnitedStatesisexpectedtoincreasefrom180,000in2023to1.7millionby2035.TheEuropeanmarketisprojectedtoseeanincreasefrom700,000in2023to2.7millionby2035.Meanwhile,inotheroverseasregions,publicchargersareexpectedtogrowfrom290,000in2023to2.4millionby2035.

2)Keytechnicalbarriers

AmidtherapidexpansionofNEVs,thechargingindustryfacesnumeroustechnologicalchallengesduetothecomplexglobalmarketlandscape,resultinginhighentrybarriers.

Thetechnicalchallengesintheglobalintelligentchargingsectormainlyinclude:

Complexgridadaptability,extremeenvironmentalconditionsandhigh-intensityusage,intricateloadadaptation,andstringentcompatibilityrequirements.Additionally,strictrequirementsandstandardsininternationalchargingmarketsnecessitatethatenterprisesdevelopanin-depthunderstandingofregionalmarketcharacteristicsandsystematicallyinvestintechnologicaladvancementsandproductR&Dtoestablishastrongpresenceintheglobalchargingmarket.

(3)TheunstoppableriseoftheAI-poweredroboticsindustry

1)Industrydevelopmentstageandbasiccharacteristics

GenerativeAIisdrivinganewwaveoftechnologicalrevolution.BreakthroughsinmultimodallargelanguagemodelsandembodiedintelligenceareenablingAItotransitionfromvirtualenvironmentstothephysicalworld,fosteringdiverseindustryapplicationsandsignificantlyenhancingproductivity.AccordingtoprojectionsbyHorizonGrandViewResearch,theglobalAIindustryisexpectedtogenerateUSD1.8trillioninrevenueby2030,withacompoundannualgrowthrate(CAGR)of37.3%from2024to2030.Furthermore,BostonConsultingGroup(BCG)predictsthatasroboticstechnologyadvances,theadoptionofintelligentrobotswillacceleratebeyondfactoryautomationandexpandintotheprofessionalservicessector.By2035,theglobalmarketforprofessionalservicerobotsisexpectedtoreachUSD120billion.Withintheprofessionalservicesector,intelligentinspectionrobotsareprojectedtohavethemostpromisingnichemarketpotential,drivenbystrongpolicysupport,substantialindustrialbudgets,andrapidadvancementsinroboticmotioncontroltechnology.

2)Keytechnicalbarriers

/

Intheroboticstechnologydomain,achievinghigh-precisionpositioningandautonomousobstacleavoidancerequiresthefusionofmultipledatasources,combinedwithadvancedmotioncontrolandhigh-qualitymechanicaldesigntoensurestableandflexiblemovementincomplexenvironments.FromanAIperspective,robotsmustpossessrobustdataprocessingcapabilitiestoanalyzevastamountsofinformation,supportedbyintelligentdecision-makingalgorithmsforefficienttaskplanning.Additionally,theyrequirehigh-performancedataacquisitionandfeedbackmechanisms,alongwithautonomousoperationalcapabilities,enablingafullyintegratedAIecosystem–fromindustrialAImodelsandintelligentbrainstointelligentroboticactuatorsandscenariodata.

2.AnalysisoftheCompany’spositionintheindustriesandchanges

Intermsofdigitalandintelligentdiagnostics,AutelhasleveragedcontinuousR&DinnovationandglobaloperationstoestablishastrongfootholdinthedevelopedNorthAmericanandEuropeanautomotiveaftermarket.Aftersuccessfullypenetratingmaturemarketsandbuildingbrandrecognition,Autelhascontinuedtoexpandintohigh-potentialregionsandmarketsworldwide.Today,itisoneoftheleadingenterprisesintheglobalautomotiveaftermarketforadvanceddiagnosticandtesting.

Intermsofdigitalandintelligentpowersolutions,Autelhasseizedopportunitiesintheoverseasnewenergychargingindustry,focusingondeepeningitspresenceintheoverseassmartenergymarket.Byleveragingitssystematicadvantagesinproducts,technology,brands,markets,services,andtheglobalsupplychain,Autelhasbuiltlong-termcompetitivebarriersandiscommittedtobecomingagloballeaderinintelligentchargingnetworksandPV&ESSmanagementsolutions.

IntermsofAI-poweredroboticssystems,Autelcapitalizesonitsproductandtechnologicalexpertise,largelanguagemodelsspecifictoourindustriesoffocus,generativeAIplatform,andscenarioandcustomerresourcestodevelopdigitalandintelligent,autonomous,andintegratedair-groundclusterinspectionsolutions.Wearededicatedtobecomingagloballeaderinthenichemarketofintegratedair-groundintelligentinspectionsolutionsforintelligentinspectionscenarios.

3.Developmentsofnewtechnologies,industries,businessformsandbusinessmodelsduringtheReportingPeriodandfuturedevelopmenttrends

(1)Automotiveadvanceddiagnosticandtestingindustry

/

AccordingtoFrost&Sullivan,Diagnostics-as-a-Service(DaaS)isemergingasakeyfuturetrend.DaaSisasubscription-basedservicethatprovidesautomotivemaintenanceshopsanddistributorswithdiagnostictools,remotetechnicalsupport,andcalibrationequipment.By2030,theDaaSbusinessmodelisexpectedtogeneratemorethanUSD3.28billioninrevenue,withaCAGRof12.7%from2023to2030.Nichemarkets,suchasvehiclemaintenanceandmaintenance,collisionmaintenance,EVbatterydiagnostics,andvehicleassessmentanddiagnosticsareallexpectedtoexperiencevaryingdegreesofgrowth.Additionally,generativeAIislearningandtrainingbyleveraginglarge-scalehistoricalvehicledata,faultcases,andmaintenanceexperience.Throughdataanalysis,AIcanpredictpotentialvehiclefailures,providediagnosticrecommendations,significantlyimproveserviceaccuracyandefficiencyofDaaSserviceproviders,andtransformautomotivediagnosticsanduserexperience.

(2)Newenergyindustry

1)Megawattchargingbecomesakeytrendintheglobalchargermarket

AstheglobalEVindustryrapidlyexpands,particularlyintheheavy-dutycommercialvehiclesector,megawattEVESsarebecomingacriticaldriveroflong-haulelectrification.

InMarch2024,theUSgovernmentreleasedtheNationalZero-emissionFreightCorridorStrategy,outliningafour-phaseplanfordevelopingatruckchargingnetwork.Itplanstobuildanationwidechargingandhydrogenrefuelingnetworkforlong-haultrucksby2040.Thisnetworkwillcovermajorfreighthubs,truckstops,andintermodaltransportcenters,ensuringahighlyefficientzero-emissionfreighttransportationnetwork.TheEUAFIRprovidesdetaileddeploymentplansforheavy-dutynewenergycharginginfrastructureacrossTEN-Thighways,secureparkingareas,andurbannodes.AccordingtomarketresearchfirmQYResearch,theglobalmegawattEVESmarketisprojectedtoreachseveralbillionUSDby2030,withanexceptionallyhighCAGRexceeding80%.

2)Collaborativedevelopmentofenergymanagement,V2G,andvirtualpowerplantstoreshapetheindustrylandscape

Withtheincreasingadoptionofnewenergycharging,vehicleownersaredemandinggreaterreliability,compatibility,andseamlesspaymentexperience.Meanwhile,chargingoperatorsmustaddressgridcapacitylimitations,highexpansioncosts,weakchargingservicecapabilities,andlowutilizationrates.Chargingsoftwareandenergymanagementsolutions,whichincorporate“PV,storage,charging,edgecomputing,andcloudcomputing”,efficientlyaddresschargingequipmentissues,andenhancechargingoperating

/

revenuethroughoptimalcostandmaxchargingutilization,willsignificantlyimprovethecompetitivenessofchargingequipmentandusheringreaterdevelopmentopportunities.Vehicle-to-Grid(V2G)enablesEVstosellexcessbatterypowerbacktothegridoradjustchargingspeedsbasedonelectricityprices,transformingEVsintoflexibleenergystorageunitsintheenergysupplychainandcreatingatwo-wayinteractivebridgebetweenvehiclesandthegrid.Thiscreatesabidirectionalinteractionbetweenvehiclesandthegrid,enhancinggridstabilityandflexibilitywhilegeneratingadditionalrevenueopportunitiesforEVowners.VirtualPowerPlants(VPPs)isaninnovativemodelthatintegratesmultipledistributedenergyresourcesandorganicallyintegratesandfurtherexpandsenergymanagementandV2G,includingchargers,distributedPVpowersystems,andenergystorageunits.Throughintelligentcontrolandefficientinformationtechnologies,VPPsachievecentralizedschedulingandcoordinatedoperationsofsuchresources.

Insummary,energymanagementprovidesfoundationalpowercontrolcapabilitiesforV2GandVPPs.V2GenhancesenergymanagementbyenablingbidirectionalenergyflowofVPPs,whileVPPsintegratemultipleenergysources–includingV2G-enabledchargers–intoahigher-level,optimized,andcoordinatedenergynetwork.Thesynergisticdevelopmentofthesetechnologiesisprofoundlyreshapingthenewenergychargingsector,unlockingunprecedentedgrowthopportunitiesfortheindustry.

(3)AI-poweredroboticsindustry

1)AIAgentsasagame-changerforenhancingindustryefficiencyandquality

TheevolutionofAIhasprogressedfromrule-basedsystemstomachinelearningmodels,andnowtoautonomousAIAgentsandexpandedtheapplicationboundaryofAI.AIAgentsarerapidlytransformingindustryoperationsandcustomerinteractionsworldwide.AccordingtoGrandViewResearch,theglobalAIAgentmarketwasvaluedatUSD3.86billionin2023andisprojectedtogrowataCAGRof45.1%from2024to2030,reachingUSD50.3billionby2030.Thekeydriversofthisgrowthincludeincreasedautomationdemand,advancementsinnaturallanguageprocessing(NLP),andrisingconsumerexpectationsforpersonalizedandreal-timeservices.AIAgentsarewidelyappliedine-commerce,healthcare,andsecurity,byenhancingcustomerbehavioranalysis,productrecommendations,anduserengagement.Byimprovingmarketing,sales,andcustomerserviceefficiency,AIAgentsreduceoperationalcostsandcreatesignificantcommercialvalueforenterprises.

/

2)PhysicalAIleadsthenextwaveofAIinnovationPhysicalAIreferstoaphysicalsystemcapableofexecutingtaskstraditionallyassociatedwithlivingorganisms.Thesesystemsintegratebodystructure,controlmechanisms,morphology,motionexecution,andperceptioninaco-evolutionaryprocess.Byleveraginggenerativedataengines,PhysicalAIovercomesdatascarcitychallenges,reducesdatacollectionandannotationcosts,andminimizesmodeltrainingtimeandresourceconsumption.Thisenablescost-effectiveAI-drivensolutionsforenterprises,andacceleratestechnologyadoptionandcommercialapplications.Withitsadvantagesinroboticintelligenceenhancement,industrytransformation,technologicalinnovationandsupport,dataprocessingoptimization,cross-sectorapplications,costcontrol,andopen-sourceinnovation,PhysicalAIisanunstoppablefuturetrendattheforefrontoftechnologicaladvancement.Itispoisedtoreshapeglobalindustriesandindustryecosystemsandcreateenormouseconomicandsocialvalue.iv.CoretechnologiesandR&Dprogress

1.CoretechnologiesandtheiradvancementaswellaschangesduringtheReportingPeriod

(1)DigitalandintelligentdiagnosticsAutelremainscommittedtoindependentR&Dandcontinuousinnovation,withitscoretechnologiesembeddedinself-developedautomotiveadvanceddiagnosticandtestingsoftware.NearlytwodecadesoftechnologicalaccumulationhavebuiltastrongcompetitiveedgeindigitalandintelligentdiagnosticsanddiagnosticR&D.?Systemcapabilities:Leveragingaself-developedautomotivediagnostic

communicationsystemandadedicatedautomotivediagnosticoperatingsystem,Autel’sproductsenablerapidcommunicationandrobustcompatibilitywithmultipleglobalprotocols.?Dataandalgorithms:Throughanintelligentsimulationandanalysissystembasedonbigdataandmachinelearningtechnologies,Autelachievesintelligentandefficientdatacollection,vehiclesimulation,andautomateddiagnosticprotocolanalysis.Thishasledtothedevelopmentofapreciseandcomprehensivecoredatabaseandalgorithmlibrary,significantlyenhancingR&Defficiency.Furthermore,theadaptiveandself-learningadvanceddiagnosticexpertsystemimprovesdiagnosticaccuracy,coverage,andintelligence.

/

?Solutioncapabilities:Byleveragingmassiveremotediagnosticdataandmaintenancecasestudiescollectedfromhundredsofthousandsofdiagnosticsystems,Autelutilizesacloud-basedmaintenanceinformationsystemtoprovideremote,digitalandintelligentdiagnosticsrecommendationsthatareefficientandprecise.Thisenablesanend-to-end,one-stopserviceandexpandsthebusinessfromdiagnosticequipmenttoadvanceddiagnosticandmaintenancesolutions.?AIcapabilities:Builtonavastautomotivediagnosticdatafoundation,Autelhasindependentlydevelopedalargeautomotivediagnosticmodel,anddeeplyintegratedgenerativeAIintomaintenancescenarios.Byconstructingaseriesofagents,Autelsignificantlyenhancesdiagnosticefficiencyanduserexperience.

(2)DigitalandintelligentpowersolutionsAutelhasestablishedpowerelectronicstechnologyandAIintelligencetechnologyasitstwocoretechnologicalfoundations,anddeveloped“end-to-endintelligentchargingsolutions”and“integratedPV&ESSmanagementsolutions”.Theseinnovationscreatemoreintelligent,user-friendly,reliable,andsustainableenergysolutionsforcustomers.

1)Advancementsincoretechnologies?Powerelectronicstechnology

?Powerelectronicstopology:Advancedcircuittopologyandsiliconcarbide

(SiC)componentsareutilizedtoenhancesystemefficiency,promoteenergyconservation,andreduceenergywaste.?Poweralgorithms:Powertopologyalgorithmsareadoptedtosignificantly

improvesystemdynamicresponseandstability.?DCbusaswellasstackedphotovoltaicsandenergystorage:Stacked

photovoltaicsandenergystorageaswellasDCcouplingareusedtomake

energystorageandutilizationmoreefficientandscalable.?AIintelligentdiagnosticsandblackboxtechnology:Precisefaultdetection,

rapidfaultrecovery,andpredictivemaintenanceareenabled.?AItechnologies

?Batterytesting:Batterytestingalgorithmclustersareusedforbatterytesting,

faultdiagnosis,andcharginganddischargingsafety.?Intelligentcharging:Chargingefficiencyandsitepowerutilizationare

enhancedthroughadaptiveloadbalancingandintelligentpowerdispatching,

thusreducingenergylosses.

/

?Intelligentoperations:Customerflowoptimization,chargingdemandforecasting,andintelligentpricingstrategiesareleveragedtomaximizeoperationalprofitability?Intelligentoperationandmaintenance:Leveragescloud-basedtechnologyand

historicaldataanalyticsforcomprehensivemanagement,faultpatternrecognition,healthmonitoring,andpredictivemaintenanceareenabled,ultimatelyreducingmaintenancecosts.

2)Advancementsinfull-scenariointelligentchargingnetworksolutions?On-the-gochargingsolutions:High-reliability,high-returnchargingenergy

managementsolutionsareofferedwith99%real-worldvehicle-chargercompatibilitythroughextensivetesting.TheplatformhaspassedHubject,OpenChargePointProtocol(OCPP),OpenInterChargeProtocol(OICP),OpenChargePointInterface(OCPI),andPlugandCharge(PnC)compatibilitycertificationsandfeaturesOpenAPIintegration.Anetwork-site-charger-component-levelmonitoringsystemenablesremoteintelligentoperationandmaintenance,enhancingsiteefficiencyandsecurity.?Commercialultra-fastDCcharger:Itsupportsupto480kWpercharginggun,

enabling600kmofrangewithjusta10-minutecharge,ensuringaseamlesschargingexperience.?MCS:Itoffersamaximumcurrentof1,500Aandchargingpowerupto1.2MW,meetingthehigh-powerchargingneedsofheavy-dutytrucks.?Fleetchargingsolutions:FleetelectrificationisacceleratedthroughacomprehensivedigitalsolutionwithDynamicLoadBalancing(DLB)technologyandintelligentoperationandmaintenancetoreducecostsandimproveefficiency.?FleetDCcharger:ItsupportsV2Gtechnology,enablingpeakshavingandvalleyfillingtocapitalizeonelectricitypricedifferences,therebyenhancingfleetoperationalprofitability.?Fleetoperationandmanagementsystem:Chargingschedulesandoperationaldispatchingareoptimizedbasedonfleetoperationplanning,ensuringseamlessfleetoperationsduringelectrificationtransitionswithnodelays.?Destinationchargingsolutions:Anend-to-endoptimizedsolutionisprovidedforchargingsiteconstructionandoperations.

/

?CommercialACcharger:Aminimalistdesignisadopted,andmultiple

installationmethodsaresupportedtoadapttocomplexcommercialenvironments.?Effortlessinstallation:Tool-freeinstallationinjustfiveminutesisenabled,significantlyreducinginstallationtimeformerchants.?Wirelessnetworking:Sitebalancersandwirelessnetworkingcapabilitiesare

available,allowingeasydeploymentofmultiplechargersbymerchantswhileensuringbalancedpowerdistributionacrossparks.?One-clickchargingsolution:Notoolsarerequired.Single-charger

configurationislessthanfiveminutes.One-timesetupallowsfullsiteactivation.?Residentialchargingsolutions:HomeenergymanagementsolutionsaredevelopedbasedonV2GandV2H(Vehicle-to-Home)technologies.?HomeACcharger:ItsupportsV2Gtechnology,enablingsmartenergy

transferfromthevehicletothehomeduringpeakelectricitypricing.?Adaptiveloadmanagement(ALM):Smartgateways,intelligentswitches,and

balancersareprovided,allowinguserstoeasilymanagehouseholdelectricity

consumption,enhanceenergyefficiency,andlowerenergyexpenses.

3)AdvancementsinintegratedPV&ESSmanagementsolutions?Cloud-edgecoordination&independentoperation(edgecomputing&

schedulingalgorithms)?IntegratedPV&ESScoordinationandschedulingareavailable.Siteprivate

deploymentissupportedwithsecond-/millisecond-leveldatacollectionand

millisecond-levelresponse.?Powergenerationforecasting+loadforecasting+AIschedulingalgorithms

enabledemandmanagement,reduceenergycosts,enhancegridstabilityand

reliability,andimproveenergyandchargingefficiency.?Multistrategyadjustmentmodels:AIschedulingmode+cloud-edge

coordinationmode+localstrategymodel.?One-stopsolutiondeliverycapabilities:Openecosystemwithmultiport,

multiprotocol,andmultibrandcompatibility.Highefficiencyandeasydebugging.

(3)Integratedair-groundclusterintelligentsolutions

/

The“LargelanguagemodelSpecifictoIntelligentInspection”empowersthesolutionwithhighefficiency,intelligence,andrapidevolution,enablingwhole-chainconnectionfromindustrialAIlargelanguagemodelstointelligentbrains,roboticactuators,andscenariodata.

?Developalargelanguagemodelspecifictoourindustriesoffocus:Builtupona

generallargelanguagemodel,the“LargelanguagemodelSpecifictoIntelligentInspection”harnessesthecontinuousself-evolutioncapabilitiesofgenerallargelanguagemodels.

?IndependentandcollaborativeR&Dofembodiedintelligentactuators:Highlyintelligentactuators(e.g.airrobots,groundrobots,andcounter-dronesystems)featurehigh-efficiencydataacquisitionandfeedback,andintelligentandautonomousoperationalcapabilities.

?EstablishanAI-drivenecosystem:Largelanguagemodelsspecifictoourindustriesoffocus,theAvantAIPaaSplatform,intelligentrobotics,andscenariodataareintegratedintoaself-evolving,closed-loopecosystemthatcontinuouslyenhancesitself.NationalScienceandTechnologyAwards?Applicable√NotapplicableRecognitionasaNationalSpecialized,Refined,Distinctive,andInnovative“LittleGiant”EnterpriseandManufacturing“SingleChampion”

√Applicable?Notapplicable

Recognitiontitle	Yearofrecognition	Productname
NationalSpecialized,Refined,Distinctive,andInnovative“LittleGiant”Enterprise	2022	Automotivediagnosticdevice

2.R&DachievementsduringtheReportingPeriod

(1)Technologicalleadershipacrossthefullproductlineofdigitalandintelligentdiagnostics

?Automotiveadvanceddiagnostics:Inproductdevelopment,Autellaunchedthenew-generationmid-rangediagnostictabletMaxiSysMS906MAX,featuringenhancedhardwareperformanceandexpandedsoftwarefunctions,providingusers

/

withacost-effectivesolution.Additionally,theRemoteExpertHub,anintegratedremoteexpertprocessingsystem,wasintroducedtohelpmaintenancespecialistsefficientlyhandlemoreremoteservicerequests.Insoftwareinnovation,Autelpioneeredthecross-systemdatastreamfusionfunction,enablingtechnicianstoanalyzevehicledatamoreconvenientlyandsignificantlyimprovingdiagnosticefficiency.?NEVdiagnostics:InproductR&D,Autellaunchedfourspecializedhigh-voltage

lithiumbatterymaintenancetoolchainsolutions,includingthe280VBatteryCharger/Discharger,the24-ChannelCellBalancingSystem,the30kPaBatteryPackHermeticityTester,andthe1000VInsulationResistanceTester.CombinedwithAutel’sEVdiagnostictabletproducts,thisdevelopmentachievescomprehensivecoverageofin-vehicleandoff-vehiclediagnosticscenarios.Intechnologyinnovation,AuteldevelopedHigh-VoltageBatteryExpertModeintegratingimagerecognitionalgorithmsandmachinelearningtocontinuouslyenhancenewenergybatterydiagnosticefficiency.TheMaxiEVCDT100diagnostictabletnowfeaturesRemoteControlMode,enablingautomatedbatterymodulecharge/dischargecontrol,StateofHealth(SOH)estimationworkflowautomationandsynchronizedtestreportingviatablet.Thisend-to-endtestingprotocolstreamlineson-boardtooff-boarddiagnostics,significantlyimprovingtechnicianefficiency.?TPMSproducts:Thevehiclemodelcoverageiscontinuouslyupdated,ensuringindustry-leadingsupportfornewlyreleasedvehiclesandmaintainingaTPMSsolutioncoveragerateofmorethan99%.Wearealsomakingforward-lookingadvancementsincommercialvehicleTPMSsensorsanddiagnostictools.?ADASproducts:TheADAScalibrationsoftwareandfour-wheelalignmentsoftwarecontinuetoexpandvehiclecoverage,achievingglobalmodelcoverageofmorethan95%.Thenew-generationADAScalibrationmainframeIA700hasbeenofficiallylaunchedinNorthAmerica,whiletheupcomingIA1000modelissetforaglobalrelease.Thenewmainframefeaturesfullyautomatedpositioningofcalibrationtoolsanddigitalcalibrationpatterns,significantlyimprovingcalibrationefficiencyandusability.?Softwareupgradeservices:1)Remoteexpertservice:Programmingcapabilities

havebeencontinuouslyoptimized,nowsupportingremotediagnosticsand

/

programmingformorethan300globalvehiclebrands,coveringpassengervehicles,commercialvehicles,andNEVs.Thesystemalsosupportsmaintenancerequestsubmissionsusingordercodes.IncombinationofMaxiFlashVCI,VCMI,andXLinkstandaloneremoteconnectiondevices,itgreatlyenhancesuserexperience.TheservicehasseenrapidgrowthinNorthAmericaandEurope,whiletrialoperationshavebeguninAsia-Pacific,SouthAmerica,andAustralia.2)Subscription-basedupgrades:DuringtheReportingPeriod,Auteldevelopeddiagnosticsoftwareformorethan160newvehiclemodelsforthe2024-2025H1period,includingseveralindustry-firstdiagnosticsfornewlyreleasedbrands.Additionally,batteryhealthdiagnosticsformorethan50NEVbrandswereintroduced,alongwithadvanceddiagnosticfeaturessuchasmultidatastreamfusion,VIN/mileageverification,andanintelligentexpertmodelfornewenergybatteries.

(2)ContinuousbreakthroughsindigitalandintelligentpowersolutionsDuringtheReportingPeriod,Autel,leveragingdeepinsightsintouserneeds,focusedonacomprehensiveupgradeofitsproductsandsolutions.Specifically:

1)Advancementsincharginghardwareplatforms?Autelcompletedthedesignandtestingoftheliquid-cooledchargingmodule

prototype,withcorecompetitivenessexceedingexpectations,advancingR&Dintotheproductionphase.Additionally,thedebuggingoftheV2G(bidirectionalchargingmodule)prototypewascompleted.?NewMaxiChargerDCproductswerelaunched,mainlyfeaturing:

?Fullymodulardesign:Lowfailureratesandeasymaintenance.?Ultimateexperienceandhighvehicle-chargercompatibility.Userscanselect

anyofCCS1,CCS2,CHAdeMO,andNACSchargingconnectors.?Simplifiedoperationandmaintenance.One-clickrapiddeployment.24/7remoteoperationandmaintenance.?Intelligentcoordination.EMSsareintegrated,andsolarenergyandBatteryEnergyStorageSystems(BESS)aresupported.?Scalablepoweroutput.MCSchargingsolutionsaresupported,witha

maximumsingle-guncurrentof1,500Aandchargingpowerupto1.2MW,

compatiblewithair-cooledorliquid-cooledterminals.Electrictrucks

requiringchargingpowerabove1MWaresupported.

/

?LaunchedthelatestintegratedhomeandcommercialACcharger,MaxiChargerACPro,mainlyfeaturing:

?Market-leadinghighpowerof19.2kW(80A),significantlysurpassingthe

traditionalhomestandardof12kW(50A).?Intelligentfeatures,includingintelligentdynamicloadbalancing,one-click

communicationnetworkconfiguration,andAI-drivenoptimization.?Three-layersafetyprotectionandeffortlessinstallation,ensuringahighly

reliableandseamlesschargingexperience.?ThefullproductseriesiscompatiblewithintegratedPV&ESSmanagement

solutions,enablinggreenchargingandsupportingacleaner,moresustainablefutureaspartofthenext-generationenergyecosystem.

2)Progressinthecloud-basedchargingplatform?Operationscloudplatforms

?AIIntelligentAssistant:Poweredbythelargelanguagemodelspecificto

charging,AIIntelligentAssistanthasbeenofficiallylaunchedforcommercial

useoverseas,coveringfivecoremodules:IntelligentQ&A,intelligent

configuration,intelligentstatements,intelligentreporting,andintelligent

feedback.?Chargingpayment:Acomprehensiveonlineandofflinepaymentsolutionis

tailoredforpublicchargingscenarios,enablingsimplifiedCPOcollections,

one-clickaccountsetup,andcostreductionbymorethan30%.?Edgecloud:Aninnovativeedge-cloudintegrationwasenabledinthecharging

cloud,andanedgecloudsolutionwaslaunchedtoensurechargingpower

stability,consistentchargingstrategies,uninterruptedorderprocessing,and

normalsiteoperationsinoff-gridorweak-networkenvironments.?Opencompatibility:TheplatformconformstoOCPP,andOCPP1.6and

OCPP2.0.1certificationsfromtheOpenChargeAlliance(OCA).

Additionally,itobtainedISO/IEC27018andCSA-STARcertifications—two

internationallyrecognizedstandardsforcloudservicesecurity.Theindustry’s

firstwhitepaperonchargingcloudsecuritywasissued.?Cloud-basedmaintenanceplatforms

?Digitaloperationandmaintenance:Throughreal-timeequipmentmonitoring

andfull-processchargingdatatracking,leveragingchargingsequence

/

backtracking,theplatformcanpreciselyanalyzekeychargingdata,facilitatefaultdiagnosticsandenergyefficiencyoptimization.?Simplifiedsitedeployment:Uninterruptedcommunicationtechnologyisused

tosupportone-clickconfigurationanddeployment,enablingself-discovery,self-networking,andself-diagnosisofdevices,anddeliveringaplug-and-playcloudsolution.?Systematicserviceframework:Theworkordersystemisend-to-end.

Intelligentscheduling,real-timetracking,anddataanalyticsensurethatfaultresponseandresolutionmeetServiceLevelAgreement(SLA)standardsandoptimizeservicequality.

3)ProgressinintegratedPV&ESSmanagementsolutions?Hardwaresolutions:Systematicintegrationtestingandverificationwere

completedforEuropeanandAmericanstandardenergystoragebatteries,powerconversionsystems(PCS),photovoltaicinverters,andAC/DCchargers.?Softwaresolutions:AuteldevelopedtheMaxiEdgeController(EnergyEdgeController),MaxiPowerX(EnergyManagementCloud),andMaxiPowerS(Site-levelEnergyManagementSystem),successfullylaunchedandtrialedPV&ESSenergysite,andachievedsmoothgridexpansion,peakshavingandvalleyfilling,a45%reductioninpeakdemand,anda10%overallenergycostsavings.ListofIntellectualPropertyAchievementsDuringtheReportingPeriod

	Newadditionsintheyear		Cumulativetotal
	Applicationsfiled(units)	Granted(units)	Applicationsfiled(units)	Granted(units)
Inventionpatents	73	129	844	352
Utilitymodelpatents	39	18	283	272
Designpatents	28	37	1,014	1,010
Softwarecopyrights	35	5	170	137
Others	-	-	-	-
Total	175	189	2,311	1,771

Note:DuringtheReportingPeriod,theequitytransferofSkyFendTechnologywascompleted,andSkyFendTechnologyisnolongerincludedinAutel’sconsolidatedfinancialstatements.Therefore,theintellectualpropertyfiguresabovedonotincludeSkyFendTechnology.

3.R&Dinvestments

Unit:RMB

/

	2024	2023	Change(%)
ExpensedR&Dinvestments	635,783,425.06	535,095,824.97	18.82
CapitalizedR&Dinvestments	44,243,730.79	61,031,774.78	-27.51
TotalR&Dinvestments	680,027,155.85	596,127,599.75	14.07
TotalR&Dinvestmentsas%ofoperatingrevenue	17.29	18.34	Downby1.05percentagepoints
CapitalizedR&Dinvestmentsas%oftotalR&Dinvestments	6.51	10.24	Downby3.73percentagepoints

ReasonsforsignificantchangesintotalR&Dinvestmentcomparedtothepreviousyear?Applicable√NotapplicableReasonsforsignificantchangesintheproportionofcapitalizedR&Dinvestmentanditsjustification?Applicable√Notapplicable

/

4.OngoingR&Dprojects

√Applicable?Notapplicable

Unit:RMB’0,000

No.	Projectname	Estimatedtotalinvestment	Currentperiodinvestment	Cumulativeinvestment	Progressormilestoneachievements	Targetobjectives	Technicallevel	Specificapplicationprospects
1	NEVintelligentmaintenancesolution	18,955.81	1,154.83	5,685.57	1.AutelcompletedupgradesformainstreamNEVbrandsinChina,Europe,andtheUnitedStates,covering90%ofNEVdiagnostics.2.Itlaunchedatoolchainsolutionforhigh-voltagelithiumbatterymaintenance,servicing,andreplacementscenarios.CombinedwithAutel’sEVdiagnostictabletproducts,thisachievescomprehensivecoveragefromin-vehicletooff-vehiclediagnostics.3.Autelcompleteddataintegrationbetweencharging/dischargingdevicesanddiagnostictablets,andimprovedefficiencyby30%.	1.Bycoveringdiagnosticfunctionsformultiplebrands,asingledevicecansupportvariousvehiclemodels.Additionally,adedicatedpowerbatteryinspectionfunctionhasbeenimplementedinthediagnosticsoftware,addressingissuesofpoorcompatibilityandweakfunctionalityinNEVdiagnosticsoftware.2.Thebatterycellinternalresistancetestingfunctionenablestechnicianstocompleteinternalresistancetestswithintenminutes,improvingefficiencybymorethan30%.3.TheSOHtestprovidesacomprehensiveassessmentofhigh-voltagebatterylifespan,achievinganaccuracyofmorethan95%.4.Thedevelopmentofprofessionalcharginganddischargingtoolsaddressesinefficienciesinbatterydiagnosticsandmitigatessafetyrisks.	1.Vehiclemodelcoverage>95%,andbattery-specificinspectioncoverage>95%.2.Internalresistanceassessmentaccuracygreaterthan95%.3.SOHevaluationaccuracyabove95%.	1.NEVdiagnostics,faultlocation,andpartsrecommendationsformaintenanceshops.2.Powerbatteryfaultlocation,batteryconditiontesting,full-packcharginganddischarging,modulebalancing,cellbalancing,post-maintenancebatterypacktesting,andtestingafterbatteryinstallation.3.Batterysecond-lifeutilization.
2	Second-generationultra-fastintegratedcharging	14,749.00	8,241.11	13,612.11	1.AutelcompletedthedesignoftheMaxiChargerDCseriesnewproducts,andadvancedtothe	1.Customerswereprovidedwithnew-generationultra-fastchargingproducts,coveringafullpowerrangefrom60kWto1.44	1.Fastcharging(400kmrangeintenminutes).2.AI-powered	1.Full-power-rangeDCultra-fastchargingmeetsthetechnicalrequirementsfor

/

	productproject				prototypeproductionandcertificationstage,withthe480kWintegratedchargerintroducedintomanufacturingandshippedinsmallbatches.2.TheMCSchargingserieshasenteredthevalidationphase.3.Intelligentrecognitionandchargingcurvepredictionhavebeencompletedfor25mainstreamvehiclemodels.4.Thedesignoftheliquid-cooledcablesystemhasbeencompleted,fullymeetingperformancerequirements.	MW.2.Autelsupportedmultiplematrixstrategies,achieving100%poweravailabilityacrosstheentirematrixandimprovinggridutilizationby10%.3.ItenabledAI-poweredintelligentchargingaswellasdigitalandintelligentoperationandmaintenance,significantlyenhancingthecustomerexperience.4.TheMCSstandardissupportedwithamaximumsingle-gunpowerof1.2MW.5.FuturebusinessevolutionissupportedbyintegratingPV&ESS.	intelligentchargingissupported,increasingchargingspeedby8%.3.Full-matrixswitchingisavailablewith100%powerutilization.4.Megawatt-levelchargingtechnology.5.Batterytestingtechnology.6.Parallelsolarandenergystoragetechnology.	chargingproductsoverthenextfiveyears.ItiscompatiblewithCCS,MCS,NACS,Chademo,andGBTstandards,supportingvariouschargingscenarios,includingpassengervehicles,publictransport,andcommercialelectrictrucks.2.Users’painpointsofslowchargingareaddressedbyfurtherimprovingchargingefficiency.3.Uptimehasbeenraisedto99%,ensuringsafetyduringchargingandmeetinghighreliabilityrequirementsforproductoperationandmaintenance.4.Theissueoflowgridutilizationhasbeenaddressedbyincreasinggridefficiencyby10%.5.Geenenergyisavailabletoaddresspowersupplyshortagesinspecificscenarios.
3	Bidirectionalchargingmodule	12,450.53	2,690.01	4,571.01	Thefirstroundofdebuggingandtestingforthetechnicalprototypewascompleted.	1.ThefullcharginganddischargingprotocolstackbasedonISO15118-20wasimplemented.2.Afull-loadefficiencyofmorethan97%andapeakefficiencyofmorethan97.5%wereachieved.3.HighreliabilitywithIP65andIK10ratings,ensuringalowannualfailurerate.

1.Autelhasutilizedcustomizedlow-resistancesiliconcarbide,achievingfull-loadefficiencyapproximately1%higherthantheindustrystandard.

2.Thehighest

/

							industry-standardIP65protectionresultsinlowersystemfailureratesandhigheruptime.3.Wehaveintegratedmultiplecommunicationandcontroltechnologies,includinggridconnectionandISO15118-20.	technologiesinNEVs.
4	Liquid-cooledchargingmodule	15,200.00	3,307.93	3,505.63	Thedesignandtestingofthetechnicalprototypewerecompleted,resultingintransitionfromR&Dtotheproductionphase.	1.Ultimatereliability:Industry-leadinglowfailureratewithhighreliability.2.Lownoise:Liquidcoolingensureslownoise(<50dBpermodule),contributingtoanultra-fastchargingsystemwithminimalnoise.3.Highefficiency:Autelhasestablishedahigh-efficiencybrandwithmodulesachieving96.5%full-loadefficiency,reducingcustomers’operationalelectricitycosts.	1.Itisappliedtocircuittopologytechnologydesignedforsiliconcarbidedevices.2.Itisalsoappliedtopowercontroltechnologytailoredforpowerelectronicscontrol.3.Modulediagnosticsandmaintenanceareenabledthroughfaultdetection,faulttreeanalysis,blackboxrecording,andOTAupgrades.	1.Highpowerenablesfasterchargingscenarios.2.Lownoiseandgrid-friendlydesignensurean“environmentallyfriendly”chargingsolution.
Total	/	61,355.34	15,393.88	27,374.32	/	/	/	/

Statementofsituation

/

5.R&Dpersonnel

Unit:RMB’0,000

Generalinformation
	2024	2023
NumberofR&Dpersonnel	995	887
R&Dpersonnelas%oftotalemployees	58.19	60.34
TotalremunerationofR&Dpersonnel	42,933.54	31,675.56
AverageremunerationofR&Dpersonnel	43.15	35.71

Note:TheproportionofR&DpersonnelinAutel’stotalstaffiscalculatedexcludingproductionpersonnelattheendoftheReportingPeriod.

EducationalbackgroundofR&Dpersonnel
Educationalbackground	Numberofemployees
Doctoraldegree	9
Master’sdegree	147
Bachelor’sdegree	781
Juniorcolleges	51
Seniorhighschoolandbelow	7
AgestructureofR&Dpersonnel
Age	Numberofemployees
Below30(exclusive)	279
30-40(inclusiveof30andexclusiveof40)	585
40-50(inclusiveof40andexclusiveof50)	127
50-60(inclusiveof50andexclusiveof60)	4
60andbeyond	0

ReasonsforanysignificantchangetothecompositionofR&DpersonnelandtheimpactontheCompany:

□Applicable√Notapplicable

6.Otherinformation

□Applicable√NotapplicableIIIAnalysisonCoreCompetitivenessduringtheReportingPeriodi.Analysisoncorecompetitiveness

√Applicable□Notapplicable

1.TechnologicalinnovationadvantageAutelhaslongplacedgreatemphasisonR&Dinnovation,consideringitthecoredriverofmarketcompetitiveness.WithAIasthecentraldrivingengine,AutelcontinuouslyinvestssubstantialR&Dresourcestoensureprecisealignmentbetweentechnological

/

innovationandmarketdemands.In2024,Autel’sR&DinvestmentamountedtoRMB680million,accountingfor17.29%ofoperatingrevenue.

●Fordigitalandintelligentdiagnostics,Autelleveragesitsstrengthsinautomotive

protocolexpertiseandreal-vehicletestingresources.Throughyearsofaccumulationandoptimization,ithasbuiltavastandcomprehensivedatabaseofvehicleprotocolinformationandacorealgorithmlibrary.ThisresourceadvantageprovidesAutelwithoutstanding“ultra-compatibility”,“widevehiclemodelcoverage”,and“intelligentprecision”,whilealsolayingasolidfoundationfortheapplicationofgenerativeAIindigitalandintelligentdiagnostics.

●Withrespecttodigitalandintelligentpowersolutions,Autelholdsastrong

technologicalmoatinpowerelectronics,AI,cloud,bigdata,vehicle-charger-cloudcompatibility,intelligentoperationandmaintenance,andenergymanagement.WithmultipleR&Dcentersworldwide,Autelfullycapitalizesonregionalcomparativeadvantagesinpowerelectronics,industrialdesign,andsoftwaredevelopment.

●WithregardtoAI-poweredroboticssystems,AutelpossessesdeeptechnicalexpertiseinembodiedintelligenceagentsandAIbraindevelopment.Backedbyanexperiencedlarge-modelteam,itutilizesageneralAIlargelanguagemodelandaself-builtsupercomputingcenterasitstechnologicalfoundation.Byintegratingscenariodataaccumulation,AuteldevelopstheLargelanguagemodelSpecifictoIntelligentInspectiontodrivebusinessgrowth.

2.ProductandsolutionadvantagesWeadheretothebusinessphilosophyof“Value-DrivenInnovationwithUnwaveringCommitment”,themanufacturingphilosophyof“SurpassingtheImagination”,andthecorevaluesof“ExceedingCustomerExpectations,EmpoweredbyRelentlessDrive”.WithAIasitscoredriver,Autelsteadfastlyexecutesitsstrategicblueprintfor“Intelligentization”,continuouslydeepeningtheintegrationofAIwithbusinessplans.

●Fordigitalandintelligentdiagnostics,AutelleveragesitsstrongR&Dcapabilities

todevelopsolutionsthatarehighlycompatible,widelyapplicable,user-friendly,easyandintelligent,andhighlyintegrated,withrapiditerationcycles.Withhundredsofthousandsofhighlyengagedindustryend-usersintheglobalautomotiveaftermarket,Autelmaintainsitsindustry-leadingpositionindigitalandintelligentdiagnostics.Additionally,byintegratinggenerativeAIacrosstheentire

/

automotivediagnosisandmaintenanceprocess,itempowersadvanceddiagnosticandtestingsolutionsandnewenergybatterytestingsolutions,andstrivestocomprehensivelyimproveautomotivediagnosticefficiencyanduserexperience.

●Intermsofdigitalandintelligentpowersolutions,Autelprovidesend-to-end

intelligentchargingnetworksandintegratedPV&ESSmanagementsolutions.Itsproductsolutionsincludevariouschargerplatforms,suchas“ultra-fastDCchargingandintegratedACresidential&commercialcharging”.Furthermore,itsintelligentoperations,intelligentoperationandmaintenance,andchargingpaymentplatformsoffercomprehensivecloudservices.IncombinationofPVpowergeneration,chargingloadforecasting,energyoptimization,intelligentcharging,AI-basedschedulingalgorithms,and“PV,storage,charging,edgecomputing,andcloudcomputing”Autelhasachievedoptimalcostefficiency,maximizedchargingutilizationrates,increasedchargingoperationrevenue,andshortenedinvestmentreturncycle.

●AsforAI-poweredroboticssystems,byleveraginggenerativeAI,Auteldeliverssmarterandmoreefficientinspectionsolutionsfortheenergyandtransportationsectors.Ithasbuiltafullyintegratedtechnologychaincoveringindustriallargemodels,intelligentbrains,smartroboticactuators,andscenariodata.Thesesolutionsarehighlyefficient,intelligent,andcontinuouslyevolving,andempowerthetransformationofsmartenergyandtransportationindustriestoanewoperationmodelthatisdigital,intelligent,autonomous,andintegratedair-ground.

3.Advantageinglobalandlocalizedmarketing,sales,andcustomerservicesystemsAutelremainscommittedtoglobalexpansion,establishingsalessubsidiariesinmajormarketsworldwide.Itssalesnetworkspansmorethan120countriesandregions,includingNorthAmerica,Europe,China,Asia-Pacific,SouthAmerica,India,theMiddleEast,andAfrica(IMEA),forminganintegratedglobalmarketingnetwork.Wecontinuetoexpanditspresenceinoverseasmarketsbyadheringtoalocalizedoperationalstrategy.Itactivelybuildsanddevelopslocalizedteams,embeddingitselfdeeplyinlocalmarketstoformulateandimplementmarketpromotionandsalesstrategiestailoredtospecificregions.Byprovidingcomprehensive,high-qualitylocalafter-salesservices,Autelhasgainedwidespreadcustomerrecognition.

/

●Fordigitalandintelligentdiagnostics,Autelmaintainsstrongpartnershipswithlargeoverseasautomotivepartsretailchainsandmajorwholesaledistributorsintheautomotiveaftermarket.

●Fordigitalandintelligentpowersolutions,Autelhasestablishedlocalizedmarketingandkeyaccountteamsinmajorcountriesandregions.Itscustomerbasespansmultipleindustries,includinglargeautomotivepartsretailchains,CPOs,energycompanies,powerutilities,fleets,andsupermarketchains,furtherincreasingitsindustryinfluence.

●ForAI-poweredroboticssystems,Autelpossessesdeepinsightsintocustomerneedsinthesmartenergyandintelligenttransportationsectors,enablingittorapidlyandaccuratelydefineAIapplicationproductsolutions.

4.AdvantageinglobalandlocalizedproductioncapacityandsupplychainRecognizingtheevolvingcomplexitiesofinternationaltrade,AutelproactivelyshiftedpartofitsproductionlinestoitsVietnamfacilityin2018,reinforcingacrucialcost-competitiveadvantage.Bytheendof2023,Autel’sUSfacilitywasofficiallycompletedandputintooperation,ensuringcompliancewiththeUSNEVIActandsubsidyrequirements.ThisenhancesAutel’sresilienceagainstpotentialtraderisksandstrengthensitsfoundationforstableglobalbusinessgrowth.

Currently,AuteloperatesthreemajorproductionbasesinShenzhen,China,HaiPhong,Vietnam,andNorthCarolina,USA.Eachfacilityisequippedwithlocalizedproductionteamsandsupplychainsystems,playingastrategicroleinoptimizingresourceallocation,mitigatinguncertaintiesintheinternationaltradeenvironment,andenhancingproductcompetitiveness.Theseeffortsimprovesupplychainresponsivenessandoveralloperationalefficiency,allowingAuteltomaintainitsleadingpositionandachievesustainablegrowthonaglobalscale.

5.Advantageintalentandteam

Autelplacesgreatimportanceonstrengtheningitstalentteam,strivingtobecomeanexcellentorganizationdrivenby“UltimateEfficiencyandRelentlessPursuitofExcellence”.ByleveragingAI,Auteldrivesdigitalandintelligenttransformationacrossitsorganization,andcomprehensivelyoptimizesitswholebusinesschain,includingR&D,marketing,sales,customerservice,supplychain,IT,andfunctions.

Autelhascomprehensivelyupgradeditsmanagementrolesbyestablishingamultilevelpartnerdevelopmentmechanismtoenhanceleadershiptransformationand

/

development.Ithasrefinedpartnerrolesandprofilestoimprovedecision-makingaccuracyintalentselection,andfosteredsystematicthinking,innovativeproblem-solving,andeffectiveteamleadership.The“locomotive”roleofpartnersisfurtherreinforcedthroughanincentive-sharingmechanismthatmaximizesmotivation.Additionally,Autelhasoptimizeditstalentselection,development,appointment,andretentionmechanisms,implementedascientificleadershipevaluationanddevelopmentsystem,improvedcareerprogressionpathways,andreinforcedtheteam’sinnovation,culturaltension,andteamcollaboration.TheseinitiativesprovideastrongdrivingforceforAutel’sgrowth.

Intermsoftheincentivesystem,Autelhascontinuouslyexpandeditsincentivetoolsbyimplementingdiversifiedincentives,suchaslong-termincentivesandshort-andmedium-termprojectincentivestopreciselyaddresscoreteamneeds.ThroughinnovativeinitiativessuchastheEntrepreneurialPartnerProgramandspecialbreakthroughrewardsfortechnologyandprojects,Autelhasfurtherenhancedemployeeengagementandcreativity,andsignificantlyboostedteammoraleandmotivation.Thishasfosteredavirtuouscycleof“co-creatingvalueandsharingbenefits”betweenemployeesandAutel.

AutelhasalsoestablishedacomprehensiveIntegratedProductDevelopment(IPD)managementsystemandqualityandsafetymanagementmechanisms,creatingafull-value-chainsupportsystemspanningR&D,production,sales,andservices.Thesemeasureshavesignificantlyimprovedbothinternalandexternaloperationalefficiency,furtherconsolidatingAutel’scompetitiveedgeintheglobalmarket.ii.EventsduringtheReportingPeriodthatseverelyimpactedAutel’scorecompetitiveness,impactanalysis,andcountermeasures

□Applicable√NotapplicableIVRiskfactorsi.Riskofnotyetachievingprofitability

□Applicable√Notapplicableii.Riskofsignificantperformancedeclineorlosses

□Applicable√Notapplicable

/

iii.Corecompetitivenessrisks

√Applicable□Notapplicable

1.RiskofrevolutionarytechnologicaliterationOurproductsprimarilyservetheautomotiveindustry,whichisundergoingrapidtransformationduetotheacceleratedintegrationofemergingtechnologiessuchas5G,theInternetofThings(IoT),cloudcomputing,AI,andnewenergy.Astheindustryshiftstowardgreaterintelligence,connectivity,andnewenergy,theseadvancementspresentbothopportunitiesandchallengesfortheautomotiveadvanceddiagnosticandtestingindustry.FuturedisruptiveproductsandinnovationsintheautomotiveindustrymayleadtosignificantchangesandrevolutionaryiterationsofAutel’sexistingproducts.AlthoughAutelprioritizesR&Dandtechnologyascoredriversandcontinuestoinvestheavilyintheseareas,failuretosuccessfullyanticipateindustrytrendsandeffectivelycompletetechnologicalupgradescouldresultinthelossofitstechnologicaladvantage,ultimatelynegativelyimpactingproductionandoperations.

2.RiskoftechnicaltalentturnoverorshortageThefieldsofautomotiveadvanceddiagnosticandtesting,newenergyandpowerequipment,andAI-poweredroboticsaretechnology-intensiveindustriescharacterizedbyhighsectoralattributesandstrongentrybarriers.AdvancementsandinnovationinthesefieldsdependonexperiencedandstableR&Dteams.However,comparedtotherapidlyevolvingmarket,high-endR&Dtalentremainsrelativelyscarce,andcompetitionforskilledprofessionalswithintheindustryisintense.Thelossoftechnicalpersonneloccursfromtimetotime.IfAutelexperiencesasignificantoutflowofcoretechnicalpersonnelwithoutsuitablereplacements,oriftalentdevelopmenteffortsfailtokeeppacewithbusinessexpansionneeds,Autel’scompetitivenessmaybeweakenedorrestricted,whichcouldadverselyaffectproductionandoperations.

3.RiskofcoretechnologyleakageAlthoughAutelhasimplementedprotectiveandconfidentialitymeasuresforitscoretechnologiestosafeguardagainsttechnologyleakage.Meanwhile,confidentialityandnon-competeagreementshavebeensignedwiththeseniormanagementandcoretechnicalpersonnel.Nevertheless,thecompetitionfortalentintheindustryisintense.TheriskofcoretechnologyleakageremainsduetothepossibilitiesthatemployeesfamiliarwithrelevanttechnologiesmayleaveAutel,potentiallyleadingtotechnologyleakage,andthat

/

patentprotectionmeasuresareinsufficient.Ifsuchasituationoccurs,itcouldweakenAutel’stechnologicaledgeandnegativelyimpactproductionandoperations.

4.RiskofintellectualpropertydisputesAspartofitsglobalizationstrategy,Autel’soverseasoperationsaresubjecttocomplexlegalenvironments.AsAutelexpandsintonewbusinesssectors,itmaybedifficulttocompletelyavoidintellectualproperty(IP)disputesinitiatedbycompetitorsorotherentitiesforvariousreasons.SinceIPinvestigations,applications,authorizations,negotiations,andlegalrulingsarecomplexprocesses,failuretoproperlymanageIPissuesanddisputescouldleadtounfavorablelegaloutcomes.IntheeventofanadverseIPlawsuitruling,Autelmayfacecompensationclaims,highlegalfees,patentlicensingcosts,oreveninjunctionsthatpreventtheproductionandsaleofcertainproducts.iv.Operatingrisk

√Applicable□Notapplicable

1.RisksassociatedwithoverseasoperationsAutelhaslongreliedprimarilyonoverseasmarketsforproductsales,withacertaindegreeofdependenceontheNorthAmericanmarket.Currently,Autel’soverseassalescovermorethan120countriesandregions,withoverseasbranchesestablishedinkeymarketssuchasNorthAmericaandEurope,aswellasproductionbasesinVietnamandtheUS.IfbilateralrelationsbetweenChinaandrelevantcountriesorregionsundergosignificantchanges,orifadversedevelopmentsoccurinmarketconditions,industrytrends,orforeigntradepoliciesoftheabovecountriesorregions,Autel’sroutineoperationsandprofitabilityintherelevantcountriesandregionscouldbesignificantlyaffected.

2.RisksinrawmaterialsupplyThemainrawmaterialsrequiredforAutel’sproductionincludeICchips,resistorsandcapacitors,PCBs,diodes,transistors,andLCDs.Ingeneral,theserawmaterialsaresourcedfromindustrieswithalargenumberofsuppliersandsufficientsupplycapacity.However,keycomponentssuchasICchipsandLCDsundergofrequenttechnologicalupgradesintheconsumerelectronicssector.Asproductsevolve,oldercomponentmodelsmayfacereducedproductionordiscontinuation,potentiallyleadingtosupplyshortages.Sincethesekeyrawmaterialsdirectlyimpactproductdesign,Autelmustmakenecessarymodificationstoitsproductdesignsaccordingly.IfAutelfailstoadjustinatimelymannerorsecure

/

alternativesources,itmayexperiencetemporaryshortages,adverselyaffectingproductionandoperations.Additionally,someICandelectroniccomponentsusedinAutel’sproductsareimported.IntheeventofheightenedUS-Chinatradefrictionorextremeinternationaltradedisruptions,certainmaterials–particularlycriticalchips–couldfaceextendedprocurementcycles,significantpricefluctuations,orimportrestrictions.IfAutelisunabletoeffectivelyadjustproductionandsalesplans,modifyproductdesigns,identifyalternativesuppliers,orshiftprocurementandproductionoverseas,itsproductionandoperationscouldbenegativelyimpacted.

3.RisksfrombusinessandassetexpansionofAutelDuringtheReportingPeriod,Autel’sbusinessandassetscaleexperiencedrapidgrowth.Ifthemanagementqualityandcapabilitiesdonotalignwiththedemandsofrapidexpansionandbusinessdevelopment,andifAutel’sorganizationalstructureandmanagementsystemsfailtoadjustandimproveintime,achievingbusinessobjectivesmaybecomechallenging.v.Financialrisks

√Applicable□Notapplicable

1.RiskofexchangeratefluctuationsAsAutelprimarilyexportsitsproducts,overseasrevenueconstitutesasignificantportionofitstotalincome.ThemainsettlementcurrenciesforoverseassalesaretheUSDandtheEUR.FluctuationsintheexchangeratesoftheRMBagainsttheUSDandtheEURcouldimpactAutel’sbusinessperformance,tosomeextent.

2.RiskofhighinventoriesAttheendoftheReportingPeriod,Autel’snetinventoriesamountedtoRMB1,151million,accountingfor27.12%ofcurrentassets.IfrawmaterialpricesfluctuatesignificantlyorifmarketpricesforAutel’sproductsdeclinesharplyinthefuture,thereisariskofinventoryvaluationlosses.

3.RiskofchangesinexporttaxrebatepoliciesAsAutelprimarilyreliesonexportsales,itsexportproductsaresubjecttothe“exemption,deduction,andrebate”taxpolicy.Iffuturepolicyadjustmentsleadtoareductioninexporttaxrebateratesforkeyproducts,Autel’sbusinessperformancemaybe

/

adverselyaffected.Asaresult,Autelfacesrisksassociatedwithfluctuationsinexporttaxrebaterates.

4.RiskofdeclininggrossprofitmarginDuringtheReportingPeriod,Autelmaintainedarelativelyhighoverallgrossprofitmargin.However,theoverallgrossprofitmarginisinfluencedbymultiplefactors,includingproductmix,pricing,rawmaterialcosts,andfreightexpenses.Fromaproductmixperspective,thegrossprofitmarginofdigitalandintelligentpowersolutionsislowerthanthatofdigitalandintelligentdiagnostics.Asthedigitalandintelligentpowersolutionsbusinessexpandsrapidly,Autel’soverallgrossprofitmargindeclinedduringtheReportingPeriod.Additionally,productpricingisaffectedbymarketcompetition,salesstrategiesofAutel,andexchangeratefluctuations,whileproductioncostsareinfluencedbyrawmaterialprices,laborcosts,businessscale,andproductionefficiency.IfsignificantadversechangesoccurtotherelevantfactorsthataffectAutel’sproductpricesandcosts,leadingtoasharpdropinproductpricesorarapidincreaseincosts,Autel’sgrossprofitmarginmaydecline.vi.Industryrisks

√Applicable□Notapplicable

1.Riskofpolicychangesandresultingfluctuationsindownstreammarketdemand

GovernmentpoliciesinvariouscountriesregardingnewenergyandtheautomotiveadvanceddiagnosticandtestingindustryhaveasignificantimpactonthesalesofAutel’sproducts.Ifmajorcountriesorregionsintroduceunfavorablepolicychangesintheseindustries,demandfromdownstreamcustomersforAutel’sproductsmayfluctuate,potentiallyaffectingAutel’sbusinessperformance.

2.Marketcompetitionrisk

Asanexport-orientedbusinessprimarilyservingoverseasmarketssuchasNorthAmericaandEurope,Autelfacescompetitionfromwell-establishedindustryplayerswithsignificantassetscalesandstrongbrandrecognition.IfAutelfailstoaccuratelyanticipateindustrytrendsandmaintainlong-termtechnologicalleadershipandcorecompetitiveness,itsmarketposition,marketshare,andbusinessperformancemaybeadverselyaffected.

Additionally,astheglobalnewenergy,powerequipment,andautomotiveadvanceddiagnosticandtestingindustriescontinuetoexpand,morecompetitorsareexpectedtoenter

/

themarket,furtherintensifyingcompetition.IfAutelisunabletofullyleverageandsustainitsexistingcompetitiveadvantages–particularlyitstechnologicalsuperiority–thenincreasingcompetitionmaydeclineitsmarketshare,lowerproductandservicepricing,andlowergrossprofitmarginandprofitability.vii.Macroeconomicenvironmentrisks

√Applicable□Notapplicable

Inrecentyears,theinternationalpoliticalandeconomiclandscapehasbecomeincreasinglyvolatile,withescalatingtradefrictionandgrowinguncertaintiesinglobalgeopoliticalsecurityandeconomicdevelopment.Ifinternationaltradepolicies,tariffs,additionaltaxes,exportrestrictions,orothertradebarriersworsen,Autel’soperationsmaybenegativelyimpacted.Autelhaslongbeencloselymonitoringglobalpolicytrends.Since2018,ithasproactivelyestablishedoverseasmanufacturingfacilities.Todate,AutelhasbuiltthreemajorproductionbasesinShenzhen,China,HaiPhong,Vietnam,andNorthCarolina,USA,formingaglobalproductionandsupplychainnetwork.Specifically,theVietnamfacilityoffersadvantagesinsupplychainmanagement,operatingmanagement,localizedproductionmodels,andlowexporttariffs.TheUSfacilityprovidesthebenefitsoflocalmanufacturingandenhancedcustomerservicewithintheAmericanmarket.ThesestrategicinitiativesstrengthenAutel’sabilitytomitigateuncertaintiesarisingfromchangesininternationaltradepolicies.Movingforward,Autelwillcontinuetocloselymonitorglobalpolicydevelopmentsandadoptarisk-averseapproach.Itwillconstantlyassessandenhanceself-sufficiencyinkeymarkets,ensuringmultiplesupplychainredundancies.Onthesalesfront,Autelwilladoptmoreflexiblesalesstrategies,increaseitsfocusonenterprisecustomers,andallocateadditionalresourcestoEuropean,Asia-Pacific,andChinesemarkets.Autelaimstomitigaterisksassociatedwithanysinglemarketandensurethestabilityandsustainabilityofitsproductionandoperations.viii.Risksrelatedtodepositaryreceipts

□Applicable√Notapplicableix.Othermajorrisks

□Applicable√Notapplicable

/

VKeyOperatingResultsduringtheReportingPeriodDuringtheReportingPeriod,weachievedoperatingrevenueofRMB3,932.2564million,reflectingayear-on-yeargrowthof20.95%,anetprofitattributabletoourshareholdersofRMB640.9252million,markinga257.59%year-on-yearincrease,andanetprofitattributabletoourshareholdersbeforeexceptionalgainsandlossesofRMB540.7744million,upby47.42%fromayearago.i.AnalysisofPrincipalOperations

1.Changesinconsolidatedincomestatementandcashflowstatementitems

Unit:RMB

Item	2024	2023	Change(%)
Operatingrevenue	3,932,256,447.46	3,251,152,240.25	20.95
Costofsales	1,757,168,323.58	1,473,283,201.21	19.27
Sellingexpense	559,013,309.44	481,305,675.57	16.15
Administrativeexpense	323,794,075.80	283,247,804.55	14.31
Financecosts	21,877,567.43	-3,793,596.11	676.70
R&Dexpense	635,783,425.06	535,095,824.97	18.82
Netcashgeneratedfrom/usedinoperatingactivities	747,517,485.85	434,056,417.87	72.22
Netcashgeneratedfrom/usedininvestingactivities	-205,668,017.11	-227,784,780.16	9.71
Netcashgeneratedfrom/usedinfinancingactivities	-328,610,891.25	-177,429,035.36	-85.21

The20.95%year-on-yearincreaseinoperatingrevenuewasprimarilydrivenbythecontinuedconsolidationofoursystematicadvantagesinproducts,technology,brand,market,serviceandglobalsupplychain,aswellasthesubstantialincreaseinsalesrevenueofdigitalandintelligentdiagnosticsanddigitalandintelligentpowersolutions.The19.27%year-on-yearincreaseincostofsaleswasprimarilydrivenbytheincreaseinsalesrevenueleadingtoasimultaneousincreaseincosts.The16.15%year-on-yearincreaseinsellingexpensewasprimarilydrivenbytheincreaseinsalesrevenue,leadingtothecorrespondingincreaseinsalesstaffremunerations,warehousingandconsultingservicecharges.The14.31%year-on-yearincreaseinadministrativeexpensewasprimarilydrivenbytheimplementationofincentivesformanagementpersonnelintheperiodduetoourrapidgrowthmomentum.Thesignificantyear-on-yearincreaseinfinancecostswasprimarilydrivenbythedecreaseinexchangegainsintheperiodcomparedwiththepriorperiod.The18.82%year-on-yearincreaseinR&Dexpensewasprimarilydrivenbythe

/

increaseinR&Dstaff,professionalservicechargesandmaterialconsumptioninR&D.The72.22%year-on-yearincreaseinnetcashgeneratedfromoperatingactivitieswasprimarilydrivenbytheincreaseinproceedsfromthesaleofgoods.

Theyear-on-yeardecreaseinnetcashusedininvestingactivitieswasprimarilydrivenbytheforwardforeignexchangesettlementandsalescontractsintheprioryear,withnosuchcontractsinthecurrentyear.

The85.21%year-on-yeardecreaseinnetcashgeneratedfrom/usedinfinancingactivitieswasprimarilydrivenbytherepurchaseofsharesintheperiod.ParticularsaboutanysignificantchangetotheCompany’sbusinessnature,profitcompositionorsourcesintheperiod:

□Applicable√Notapplicable

2.Revenueandcostanalysis

√Applicable□Notapplicable

DuringtheReportingPeriod,weachievedoperatingrevenueofRMB3,932.2564million,reflectingayear-on-yeargrowthof20.95%.

(1)Principaloperationsbyoperatingdivision,productcategory,operatingsegmentandsalesmodel

Unit:RMB

Principaloperationsbyoperatingdivision
Operatingdivision	Operatingrevenue	Costofsales	Grossprofitmargin(%)	YoYchangeinoperatingrevenue(%)	YoYchangeincostofsales(%)	YoYchangeingrossprofitmargin(%)
Automotiveelectronics	3,018,273,898.66	1,187,982,680.36	60.64	13.93	11.27	Upby0.94percentagepoint
Newenergy	866,700,611.74	543,723,049.84	37.27	52.98	44.66	Upby3.62percentagepoints
Principaloperationsbyproductcategory
Productcategory	Operatingrevenue	Costofsales	Grossprofitmargin(%)	YoYchangeinoperatingrevenue	YoYchangeincostofsales(%)	YoYchangeingrossprofit

/

				(%)		margin(%)
Automotiveadvanceddiagnosticproducts	1,267,392,301.36	577,669,383.20	54.42	-1.49	-0.72	Downby0.35percentagepoint
TPMSproducts	705,749,907.80	315,277,322.00	55.33	32.55	28.28	Upby1.49percentagepoints
Softwareupgradeservices	445,840,565.99	2,423,872.53	99.46	24.20	-56.08	Upby1.00percentagepoint
ADASproducts	390,456,731.32	155,908,300.70	60.07	26.98	27.9	Downby0.29percentagepoint
Otherproducts	208,834,392.19	136,703,801.93	34.54	27.56	21.41	Upby3.32percentagepoints
Intelligentchargingnetworks	866,700,611.74	543,723,049.84	37.27	52.98	44.66	Upby3.62percentagepoints
Principaloperationsbyoperatingsegment
Operatingsegment	Operatingrevenue	Costofsales	Grossprofitmargin(%)	YoYchangeinoperatingrevenue(%)	YoYchangeincostofsales(%)	YoYchangeingrossprofitmargin(%)
China	95,186,264.35	61,866,457.98	35.00	26.90	5.61	Upby13.10percentagepoints
NorthAmerica	1,972,126,830.02	739,352,188.68	62.51	16.90	15.28	Upby0.53percentagepoints
Europe	781,706,472.57	365,661,677.11	53.22	46.10	43.29	Upby0.92percentagepoints
Otherregions	1,035,954,943.46	564,825,406.43	45.48	12.77	15.65	Downby1.35percentagepoints

Notestotheprincipaloperationsbyoperatingdivision,productcategory,operatingsegmentandsalesmodel:

DuringtheReportingPeriod,wecontinuedtostrengthenourindustry-leadingposition

/

indigitalandintelligentdiagnosticsbyleveragingouradvantagesinproductandtechnologicalinnovation.Theintelligentadvanceddiagnosticandtestingsolutions(includingautomotiveadvanceddiagnosticproducts,TPMStestingproducts,intelligentdiagnosticandcalibrationtoolsforADAS,andsoftwareupgradeservices)maintainedsteadygrowth.

Asfordigitalandintelligentpowersolutions,weseizedthedevelopmentopportunitiesintheoverseasnewenergychargingindustry,focusedonexpandingthesmartenergymarketabroad,anddevelopedend-to-endsmartchargingnetworksandintegratedPV&ESSmanagementsolutions.Itsindustryinfluencecontinuedtogrow,withintelligentchargingnetworkrevenueincreasingby52.98%comparedtothepreviousyear.

(2)Outputandunitsalesanalysis

√Applicable□Notapplicable

Primaryproducts	Unit	Output	Unitsales	Inventory	YoYchangeinoutput(%)	YoYchangeinunitsales(%)	YoYchangeininventory(%)
Automotiveadvanceddiagnosticproducts	PC	600,926.00	630,824.00	140,216.00	47.85	23.42	-17.58
TPMSproducts	PC	9,250,863.00	8,388,617.00	2,872,599.00	44.16	57.57	42.89
ADASproducts	PC	6,242.00	4,997.00	3,950.00	98.92	49.48	46.03
Chargers	PC	88,417.00	91,156.00	56,185.00	-7.67	8.98	-4.65

Descriptionofoutputsandunitsales:

None.

(3)Executionofsignificantpurchaseorsalescontracts

□Applicable√Notapplicable

(4)Costanalysis

Unit:RMB

Byoperatingdivision
Operatingdivision	Costcategory	2024	As%oftotalcostsin	2023	As%oftotalcostsin	Changeinamount	Note

/

			2024(%)		2023(%)	(%)
Automotiveelectronics	Directmaterials	1,046,089,693.54	60.40	936,215,340.06	64.86	11.74	/
	Outsourcing	57,659,200.17	3.33	51,997,940.33	3.60	10.89	/
	Directlabor	26,300,411.93	1.52	23,153,804.81	1.60	13.59	/
	Manufacturingexpenses	57,933,374.72	3.35	56,294,020.11	3.90	2.91	/
Subtotal		1,187,982,680.36	68.60	1,067,661,105.31	73.96	11.27	/
Newenergy	Directmaterials	490,882,951.33	28.35	335,272,904.14	23.23	46.41	/
	Outsourcing	4,437,385.36	0.26	6,508,958.55	0.45	-31.83	/
	Directlabor	10,929,850.39	0.63	6,850,103.66	0.47	59.56	/
	Manufacturingexpenses	37,472,862.76	2.16	27,237,006.18	1.89	37.58	/
Subtotal		543,723,049.84	31.40	375,868,972.53	26.04	44.66	/
Total		1,731,705,730.20	100.00	1,443,530,077.84	100.00	19.96	/
Byproductcategory
Productcategory	Costcategory	2024	As%oftotalcostsin2024(%)	2023	As%oftotalcostsin2023(%)	Changeinamount(%)	Note
Automotiveadvanceddiagnosticproducts	Directmaterials	520,144,943.06	31.61	521,176,149.78	36.10	-0.20	/
	Outsourcing	28,974,284.23	0.72	27,658,244.22	1.92	4.76	/
	Directlabor	8,145,812.59	0.30	9,310,485.79	0.65	-12.51	/
	Manufacturingexpenses	20,404,343.32	0.73	23,726,980.55	1.64	-14.00	/
Subtotal		577,669,383.20	33.36	581,871,860.34	40.31	-0.72	/
TPMSproducts	Directmaterials	269,412,743.40	15.56	204,327,411.01	14.16	31.85	/
	Outsourcing	7,656,724.65	0.44	8,756,563.32	0.61	-12.56	/
	Directlabor	13,263,300.91	0.77	10,446,468.70	0.72	26.96	/
	Manufacturingexpenses	24,944,553.04	1.44	22,243,377.21	1.54	12.14	/
Subtotal		315,277,322.00	18.21	245,773,820.24	17.03	28.28	/
Softwareupgrades	Directmaterials	2,423,872.53	0.14	5,518,222.95	0.38	-56.08	/
Subtotal		2,423,872.53	0.14	5,518,222.95	0.38	-56.08	/
ADASproducts	Directmaterials	148,685,945.04	8.59	114,251,139.81	7.91	30.14	/
	Outsourcing	1,621,777.63	0.09	1,989,188.86	0.14	-18.47	/
	Directlabor	1,558,987.00	0.09	1,455,194.37	0.10	7.13	/
	Manufacturingexpenses	4,041,591.03	0.23	4,202,186.59	0.29	-3.82	/
Subtotal		155,908,300.70	9.00	121,897,709.63	8.44	27.90	/
Intelligentchargingnetworks	Directmaterials	490,882,951.33	28.35	335,272,904.14	23.23	46.41	/
	Outsourcing	4,437,385.36	0.26	6,508,958.55	0.45	-31.83	/
	Directlabor	10,929,850.39	0.63	6,850,103.66	0.47	59.56	/
	Manufacturingexpenses	37,472,862.76	2.16	27,237,006.18	1.89	37.58	/
Subtotal		543,723,049.84	31.40	375,868,972.53	26.04	44.66	/
Otherproducts	Directmaterials	105,422,189.51	6.09	90,942,416.52	6.30	15.92	/
	Outsourcing	19,406,413.66	1.12	13,593,943.93	0.94	42.76	/
	Directlabor	3,332,311.43	0.19	1,941,655.95	0.13	71.62	/
	Manufacturingexpenses	8,542,887.33	0.49	6,121,475.76	0.43	39.56	/
Subtotal		136,703,801.93	7.89	112,599,492.16	7.80	21.41	/
Total		1,731,705,730.20	100.00	1,443,530,077.84	100.00	19.96	/

/

Otherinformationofcostanalysis:

None.

(5)ChangestotheconsolidationscopeduetochangedownershipinprincipalsubsidiariesduringtheReportingPeriod

√Applicable□Notapplicable

DuringtheReportingPeriod,theCompanytransferredatotalof49%equityinterestsinSkyFendTechnology,awholly-ownedsubsidiaryoftheCompany,toMr.LiHongjing,Ms.NongYingbin,andtheemployeeshareholdingplatformsShenzhenDaoHeTongLiaoInformationConsultingEnterprise(L.P.),ShenzhenDaoHeTongWangInformationConsultingEnterprise(L.P.),andShenzhenDaoHeTongXingInformationConsultingEnterprise(L.P.).Forfurtherinformation,pleaserefertotheAnnouncementonProgressoftheTransferofEquityInterestsinSubsidiary&Related-partyTransactions(AnnouncementNo.:2024-017),whichhasbeendisclosedbytheCompanyonthewebsiteoftheShanghaiStockExchange(www.sse.com.cn).

DuringtheReportingPeriod,theCompanytransferred5%equityinterestsinSkyFendTechnology,asubsidiaryoftheCompany,toMr.LinZhongshan.Uponthecompletionofthisequitytransfer,SkyFendTechnologywillnolongerbeincludedintheCompany’sconsolidatedfinancialstatements.Forfurtherinformation,pleaserefertotheAnnouncementontheTransferofEquityInterestsinSubsidiary&Related-partyTransaction(AnnouncementNo.:2024-031)andtheAnnouncementonProgressoftheTransferofEquityInterestsinSubsidiary&Related-partyTransaction(AnnouncementNo.:

2024-038),whichhavebeendisclosedbytheCompanyonthewebsiteoftheShanghaiStockExchange(www.sse.com.cn).

(6)SignificantchangestothebusinessscopeorproductorservicerangeduringtheReportingPeriod

□Applicable√Notapplicable

(7)MajorcustomersandsuppliersA.Majorcustomers

√Applicable□Notapplicable

/

SalestothetopfivecustomersstoodatRMB981.2713million,accountingfor24.95%ofthetotalannualsales.Salestotherelated-partiesamongthetopfivecustomersstoodatnil,accountingfor0%ofthetotalannualsales.Topfivecustomers:

√Applicable□Notapplicable

Unit:RMB’0,000

No.	Customer	Sales	As%oftotalannualsales	Whetherarelatedpartytothelistedcompany
1	CustomerA	23,808.06	6.05	No
2	CustomerB	23,039.64	5.86	No
3	CustomerC	21,831.57	5.55	No
4	CustomerD	19,545.50	4.97	No
5	CustomerE	9,902.36	2.52	No
Total	/	98,127.13	24.95	/

Indicatewhethersalestoasinglecustomeraccountedforover50%ofthetotalsales,therewasanynewcustomerinthetopfivecustomers,ortheCompanyheavilyreliedonafewnumbersofcustomersduringtheReportingPeriod.

□Applicable√NotapplicableB.Majorsuppliers

√Applicable□NotapplicablePurchasesfromthetopfivesuppliersstoodatRMB335.8216million,accountingfor

17.73%ofthetotalannualpurchases.Purchasesfromtherelated-partiesamongthetopfivesuppliersstoodatnil,accountingfor0%ofthetotalannualpurchases.Topfivesuppliers:

√Applicable□Notapplicable

Unit:RMB’0,000

No.	Supplier	Purchases	As%oftotalannualpurchases	Whetherarelatedpartytothelistedcompany
1	SupplierA	10,295.63	5.43	No
2	SupplierB	7,764.42	4.10	No
3	SupplierC	5,627.12	2.97	No
4	SupplierD	4,998.06	2.64	No
5	SupplierE	4,896.93	2.59	No
Total	/	33,582.16	17.73	/

/

Indicatewhetherpurchasesfromasinglesupplieraccountedforover50%ofthetotalpurchases,therewasanynewsupplierinthetopfivesuppliers,ortheCompanyheavilyreliedonafewnumbersofsuppliersduringtheReportingPeriod.

□Applicable√Notapplicable

3.Expense

√Applicable□Notapplicable

Unit:RMB

Item	2024	2023	Change(%)
Sellingexpense	559,013,309.44	481,305,675.57	16.15
Administrativeexpense	323,794,075.80	283,247,804.55	14.31
Financecosts	21,877,567.43	-3,793,596.11	676.70
R&Dexpense	635,783,425.06	535,095,824.97	18.82

Notes:

The16.15%year-on-yearincreaseinsellingexpensewasprimarilydrivenbytheincreaseinsalesrevenue,leadingtothecorrespondingincreaseinsalesstaffremunerations,warehousingandconsultingservicecharges.The14.31%year-on-yearincreaseinadministrativeexpensewasprimarilydrivenbytheimplementationofincentivesformanagementpersonnelintheperiodduetoourrapidgrowthmomentum.Thesignificantyear-on-yearincreaseinfinancecostswasprimarilydrivenbythedecreaseinexchangegainsintheperiodcomparedwiththepriorperiod.The18.82%year-on-yearincreaseinR&DexpensewasprimarilydrivenbytheincreaseinR&Dstaff,professionalservicechargesandmaterialconsumptioninR&D.

4.Cashflows

√Applicable□Notapplicable

Item	2024	2023	Change(%)
Netcashgeneratedfrom/usedinoperatingactivities	747,517,485.85	434,056,417.87	72.22
Netcashgeneratedfrom/usedininvestingactivities	-205,668,017.11	-227,784,780.16	9.71
Netcashgeneratedfrom/usedinfinancingactivities	-328,610,891.25	-177,429,035.36	-85.21

/

Notes:

The72.22%year-on-yearincreaseinnetcashgeneratedfrom/usedinoperatingactivitieswasprimarilydrivenbytheincreaseinproceedsfromthesaleofgoods.

Theyear-on-yeardecreaseinnetcashusedininvestingactivitieswasprimarilydrivenbytheforwardforeignexchangesettlementandsalescontractsintheprioryear,withnosuchcontractsinthecurrentyear.

The85.21%year-on-yeardecreaseinnetcashgeneratedfrom/usedinfinancingactivitieswasprimarilydrivenbytherepurchaseofsharesintheperiod.ii.Significantchangesinprofitincurredbynon-corebusiness

□Applicable√Notapplicableiii.Analysisofassetsandliabilities

√Applicable□Notapplicable

1.Assetsandliabilities

Unit:RMB

Item	Closingbalance	As%ofclosingtotalassets(%)	Openingbalance	As%ofopeningtotalassets(%)	Change(%)	Note
Monetaryassets	1,828,676,048.69	28.99	1,491,130,655.84	26.74	22.64	Note1
Accountsreceivable	866,754,517.65	13.74	705,187,726.27	12.64	22.91	Note2
Long-termequityinvestments	46,871,205.76	0.74		-	100.00	Note3
Othernon-currentfinancialassets	7,021,284.08	0.11	23,605,977.77	0.42	-70.26	Note4
Constructioninprogress	62,463.31	0.00	1,640,730.17	0.03	-96.19	Note5
Othernon-currentassets	141,139,074.33	2.24	22,841,476.22	0.41	517.91	Note6
Accountspayable	316,951,128.22	5.02	204,255,088.49	3.66	55.17	Note7
Employeebenefitspayable	232,238,663.94	3.68	154,154,034.70	2.76	50.65	Note8
Taxesandleviespayable	74,439,587.23	1.18	50,687,083.83	0.91	46.86	Note9
Otherpayables	126,102,610.81	2.00	241,363,094.35	4.33	-47.75	Note10
Othercurrentliabilities	27,374,527.08	0.43	594,036.63	0.01	4,508.22	Note11

/

Leaseliabilities	25,115,372.96	0.40	43,287,160.21	0.78	-41.98	Note12
Deferredincome	2,835,419.92	0.04	5,118,200.51	0.09	-44.60	Note13
Othernon-currentliabilities	241,979,614.63	3.84	123,469,560.47	2.21	95.98	Note14
Othercomprehensiveincome(“-”fornetloss)	-28,223,467.84	-0.45	-950,923.83	-0.02	2,868.01	Note15

Otherinformation:

Note1:Monetaryassetsincreasedcomparedwiththeendoftheprioryear,primarilydrivenbytheincreaseinoperatingrevenueandproceedsfromthesaleofgoods,aswellasthebankacceptancebilloperationscarriedoutintheyearimprovingcapitalturnoverefficiency.

Note2:Accountsreceivableincreasedcomparedwiththeendoftheprioryear,primarilydrivenbythesignificantincreaseinsalesrevenueleadingtoasimultaneousincreaseinaccountsreceivable.

Note3:Long-termequityinvestmentsincreasedcomparedwiththeendoftheprioryear,primarilydrivenbythedisposalof54%equityinterestsinsubsidiarySkyFendTechnologyintheyear,whichthusshiftedtomeasurementundertheequitymethod.

Note4:Othernon-currentfinancialassetsdecreasedcomparedwiththeendoftheprioryear,primarilydrivenbythedisposalofsomeheld-for-tradingfinancialassetsintheyear.

Note5:Constructioninprogressdecreasedsignificantlycomparedwiththeendoftheprioryear,primarilydrivenbythebasiccompletionofthedecorationofRainbowTechnologyBuilding.

Note6:Othernon-currentassetsincreasedsignificantlycomparedwiththeendoftheprioryear,primarilydrivenbytheimplementationoftheemployeestockownershipplanintheyearandtheprepaymentofincentivefundsfortheemployeestockownershipplan.

Note7:Accountspayableincreasedcomparedwiththeendoftheprioryear,primarilydrivenbyourenhancedmanagementofcapitalefficiencyintheyear.

Note8:Employeebenefitspayableincreasedcomparedwiththeendoftheprioryear,primarilydrivenbytheincreaseinmanagementandR&Dstaffremunerations.

Note9:Taxesandleviespayableincreasedcomparedwiththeendoftheprioryear,primarilydrivenbytheincreaseincorporateincometaxpayable.

/

Note10:Otherpayablesdecreasedcomparedwiththeendoftheprioryear,primarilydrivenbythepaymentintheyearofunpaidsettlementmoneypayableintheprioryear.Note11:Othercurrentliabilitiessignificantlyincreasedcomparedwiththeendoftheprioryear,primarilydrivenbytheincreaseinsales,leadingtothecorrespondingincreaseinproductwarrantiesintheyear.

Note12:Leaseliabilitiesdecreasedcomparedwiththeendoftheprioryear,primarilydrivenbythetransfertothecurrentportionofnon-currentliabilities.

Note13:Deferredincomedecreasedcomparedwiththeendoftheprioryear,primarilydrivenbythereturnofgovernmentgrantsreceivedintheperiodduetounfinishedprojects.

Note14:Othernon-currentliabilitiesincreasedcomparedwiththeendoftheprioryear,primarilydrivenbytheincreaseinadvancepaymentsforsoftwarecloudservices.

Note15:Othercomprehensiveincomesignificantlydecreasedcomparedwiththeprioryear,primarilydrivenbytheincreaseinlossesarisingfromthetranslationofforeigncurrency-denominatedfinancialstatements.

2.Overseasassets

√Applicable□Notapplicable

(1)ValueofassetsOfwhich:overseasassetsstoodatRMB2,298.5049million,accountingfor36.44%ofthetotalassets.

(2)Explanationforthehighproportionofoverseasassets

√Applicable□Notapplicable

OuroverseasassetsprimarilyconsistoftheassetsofsubsidiariesestablishedintheUnitedStates,Germany,Vietnam,andothercountries,whichareresponsibleforproductionandlocalsalesoperations.Theproductsmanufacturedandsoldincludeintelligentautomotiveadvanceddiagnosticandtestingsolutions,full-scenariointelligentchargingnetworksolutions,andintegratedPV&ESSmanagementsolutions.

3.Majorrestrictedassetsasattheperiod-end

√Applicable□Notapplicable

Asattheendoftheperiod,thereweresecuritydepositsofRMB7,500.00andfrozen

/

fundsofRMB3,892,370.84inbankdeposits.OthermonetaryassetsincludedcustomsdepositsofRMB27,417,089.32,billdepositsofRMB84,885,705.74,guaranteedepositsofRMB2,019,146.72,andanAppleStoreaccountbalanceofRMB495,701.21.Theuseoftheabovemonetaryassetswasrestricted.

4.Otherinformation

□Applicable√Notapplicableiv.Industryenvironmentanalysis

□Applicable√Notapplicable

/

v.InvestmentsmadeEquityinvestmentsinotherentities

√Applicable□Notapplicable

Unit:RMB

InvestmentamountduringtheReportingPeriod(RMB)	Investmentamountinthesameperiodoflastyear(RMB)	Change(%)
7,021,284.08	23,605,977.77	-70.26%

1.Significantequityinvestments

□Applicable√Notapplicable

2.Significantnon-equityinvestments

□Applicable√Notapplicable

3.Financialassetsmeasuredatfairvalue

√Applicable□Notapplicable

Unit:RMB

Typeofasset	Openingbalance	Gain/lossonchangesinfairvalueintheperiod	Cumulativefairvaluechangesrecordedinequity	Impairmentallowanceestablishedintheperiod	Amountpurchasedintheperiod	Amountsold/redeemedintheperiod	Otherchanges	Closingbalance
Equityinvestments	23,605,977.77	-8,076,897.07				8,507,796.62		7,021,284.08

/

Total

23,605,977.77

-8,076,897.07

8,507,796.62

7,021,284.08

Securitiesinvestments:

□Applicable√NotapplicableDerivativesinvestments:

□Applicable√Notapplicable

4.Investmentsinprivateequityfunds

□Applicable√NotapplicableOtherinformation:

None.

5.ProgressonanymajorassetrestructuringduringtheReportingPeriod

□Applicable√Notapplicablevi.Saleofsignificantassetsandequityinvestments

√Applicable□NotapplicableDuringtheReportingPeriod,inordertogivefullplaytotheenthusiasmofmanagement,enhancecomprehensivecompetitiveness,andsupportdevelopmentstrategiesandlong-termsustainability,theCompanytransferredatotalof49%equityinterestsinSkyFendTechnology,a

/

wholly-ownedsubsidiaryoftheCompany,toMr.LiHongjing,Ms.NongYingbin,andtheemployeeshareholdingplatformsShenzhenDaoHeTongLiaoInformationConsultingEnterprise(L.P.),ShenzhenDaoHeTongWangInformationConsultingEnterprise(L.P.),andShenzhenDaoHeTongXingInformationConsultingEnterprise(L.P.).Forfurtherinformation,pleaserefertotheAnnouncementonProgressoftheTransferofEquityInterestsinSubsidiary&Related-partyTransactions(AnnouncementNo.:2024-017),whichhasbeendisclosedbytheCompanyonthewebsiteoftheShanghaiStockExchange(www.sse.com.cn).DuringtheReportingPeriod,theCompanytransferred5%equityinterestsinSkyFendTechnology,asubsidiaryoftheCompany,toMr.LinZhongshan.Uponthecompletionofthisequitytransfer,SkyFendTechnologywillnolongerbeincludedintheCompany’sconsolidatedfinancialstatements.Forfurtherinformation,pleaserefertotheAnnouncementontheTransferofEquityInterestsinSubsidiary&Related-partyTransaction(AnnouncementNo.:2024-031)andtheAnnouncementonProgressoftheTransferofEquityInterestsinSubsidiary&Related-partyTransaction(AnnouncementNo.:2024-038),whichhavebeendisclosedbytheCompanyonthewebsiteoftheShanghaiStockExchange(www.sse.com.cn).Thisequitytransferhasbeencompleted,generatingareturnoninvestmentofRMB98.7423million.vii.Principalsubsidiaries

√Applicable□Notapplicable

Unit:RMB’0,000

Companyname	Ourinterest	Principaloperations	Registeredcapital	Totalassets	Equity	Operatingrevenue	Netprofit
AutelCalifornia	100%	Saleofdigitalandintelligentdiagnosticsanddigitalandintelligentpowersolutions	USD100,000	182,256.75	3,139.97	195,203.74	3,564.67

/

viii.StructuredentitiescontrolledbytheCompany

□Applicable√Notapplicable

/

VIDiscussionandAnalysisontheCompany’sFutureDevelopmenti.Industrylandscapeandtrends

√Applicable□NotapplicablePleasereferto“iii.Industryoverview”under“IIPrincipalOperations,BusinessModels,IndustryOverviewandR&DProgressoftheCompanyduringtheReportingPeriod”of“PartIIIManagementDiscussionandAnalysis”.ii.DevelopmentstrategiesoftheCompany

√Applicable□Notapplicable

AsAIdrivestheFourthIndustrialRevolution,industriesacrossvarioussectorsareembracingnewgrowthopportunities,leadingtosignificantimprovementsinsocialproductivity.AutelhasconsistentlypositionedAIasitscoredriver,steadfastlyexecutingitsstrategicblueprintfor“Intelligentization”.AIisAutel’smostcriticalstrategicfocusforthepresentandthenextfiveyears,withavisionofachieving“comprehensiveAIintegration”.ByleveragingAIasthecentralengine,AutelbuildingagenerativeAIplatformandlargelanguagemodelsspecifictoourindustriesoffocuswhilecontinuouslydevelopingdifferenttypesofAIAgents.ByfosteringdeepintegrationbetweengenerativeAIandindustryapplicationscenarios,AutelaimstoacceleratethedeploymentofAI-drivensolutionsacrossdiversesectors,andspearheadtransformativechangesinbusinessecosystems.Autelremainscommittedtosolidifyingitspositionasthegloballeaderindigitalandintelligentdiagnostics,strivingtobecomeaworld-leadingenterpriseindigitalandintelligentpowersolutionsofPV&ESS,aswellasagloballeaderinintegratedair-groundclusterintelligentsolutions.Additionally,AutelaspirestobeattheforefrontofcommercializingAIlargelanguagemodelsspecifictoourindustriesoffocus.

/

InthefaceofthegreenenergyrevolutionandtherapidadvancementsinAI,Autelwillactivelyembracechange,andadheretothebusinessphilosophyof“Value-DrivenInnovationwithUnwaveringCommitment”.Withambitiousgoalsandacommitmenttoexceedingcustomerexpectations,Auteloperateswithhighefficiency,acceleratesAI-driveninnovation.Bycreatingnewproductivityforces,Autelcontinuouslypursuesexcellencewithabroadervisionandaforward-thinkingdigitalandintelligentstrategy,anddeliversexceptionalvaluetoglobalcustomers.Autelaimsforsustainedbusinesssuccesswhilefosteringcollaborationwithindustrypartnerstocreateabrighterfuturetogether.iii.Businessplans

√Applicable□Notapplicable

1.AI-poweredleadership:Thetransformingprimarygrowthpillar

InresponsetothemajortrendsofnewenergyelectrificationandthesurgeofgenerativeAI,AutelwillfullyleverageAItodevelopnew-generationautomotiveadvanceddiagnosticsolutions,andsignificantlyenhancediagnosticefficiencyanduserexperiencewhilereshapingthecompetitivelandscapeoftheindustry.

ForICEvehicles,Autelaimstoestablishitselfastheindustry’sleadingdigitalandintelligentdiagnosticsexpert,redefiningtheentireautomotivediagnosticandmaintenanceprocess.ForNEVs,byintegratingdigitalandintelligentdiagnosticsexpertswithAI-drivenbatterytestingexperts,Auteldevelopingtheadvancedintelligentdiagnosticsolutionsfornewenergy,addressingkeyindustrypainpoints.Additionally,byincorporatingTPMS,ADAS,andfour-wheelcalibrationbusinessplansdemands,Autelcontinuestobuilda

OverviewofAutel’sAIstrategiesDeekSeek-R1largelanguagemodel

DeekSeek-R1largelanguagemodelTongyiTongyilargelanguagemodel

TongyiTongyilargelanguagemodelLlma3Tongyilargelanguagemodel

Llma3TongyilargelanguagemodelAutelfocusesonempoweringdomesticandoverseasindustrycustomersandpartners

Autelfocusesonempoweringdomesticandoverseasindustrycustomersandpartners

L2Segmentscenario

application

L2Segmentscenario

application

L1Industry-specificlargelanguagemodels

L1Industry-specificlargelanguagemodels

L0Generalbasiclargelanguagemodels

L0GeneralbasiclargelanguagemodelsIntegratedair-groundclusterintelligentsolution

Integratedair-groundclusterintelligentsolution

Digitalandintelligentpowersolutions

Intelligentmaintenance

FromtheInternet

FromtheInternetFromIndependentSoftwareVendors(ISVs)

inaprofessionalfield

FromIndependentSoftwareVendors(ISVs)inaprofessionalfieldIndustrystandardsandknowledge

IndustrystandardsandknowledgeLargelanguagemodeltoolchainsandAIplatforms

LargelanguagemodeltoolchainsandAIplatforms

Reinforcementlearning

optimization

	Reinforcementlearningoptimization
Modelfine-tuning

Datagovernance/annotation

Datagovernance/annotation				Modeldeployment		Modelinference
		Modeltraining

Toolchains

ToolchainsContinuousretraining

Continuousretraining

Leveragehardwareadvantagesforpracticalapplications

?Autelhasextensive

expertiseandtechnicalbarriersinsmarthardware.

Leveragehardwareadvantagesforpracticalapplications

?Autelhasextensive

expertiseandtechnicalbarriersinsmarthardware.Incrementpretraining

Incrementpretraining

Autel’secosystemcreatesleadinglargelanguagemodelsspecifictoourindustriesoffocus

?Autel’steamhassuccessful

experienceindevelopinglargelanguagemodelsspecifictoourindustriesoffocus.?Autel’steamhasdeep

accumulationinindustrycustomers.

Autel’secosystemcreatesleadinglargelanguagemodelsspecifictoourindustriesoffocus

?Autel’steamhassuccessful

experienceindevelopinglargelanguagemodelsspecifictoourindustriesoffocus.?Autel’steamhasdeep

accumulationinindustrycustomers.

Relyonfoundationalgeneralintelligenceplatformsfromtoplargelanguagemodelproviders

?Leadingalgorithms,massive

data,powerfulcomputingpower,andgeneralknowledge

Relyonfoundationalgeneralintelligenceplatformsfromtoplargelanguagemodelproviders

?Leadingalgorithms,massive

data,powerfulcomputingpower,andgeneralknowledgeIndustrydata

Industrydata

Terminologydatabase

Literature

GeneralbusinessQ&A

Corpus

Corpus

Incrementtraining

Directivefine-tuning

Incentivemodels.

PRO

Incentivemodels.

PRODeepthinkingenhancementGRPO

DeepthinkingenhancementGRPOApplication

plugins

Application

pluginsEmbodiedAIlarge

languagemodels

EmbodiedAIlarge

languagemodelsSmartenergylarge

languagemodels

Smartenergylarge

languagemodelsIntelligentmaintenancelargelanguagemodels

/

one-stopecosystem,furtherimprovingdiagnosticefficiencyanduserexperience.Thisapproachaimstoimprovemarginalreturnsandsustainablerevenue,andfosterlong-termsuccessincollaborationwithcustomers.

2.ThankstoAI-drivenintelligence:Theunstoppablesecondaryhigh-growthengineSeizinghistoricalopportunities,Autelembracesitsmission“ToPowerthePlanet”,andstrategicallypositionsitselfinthesmartenergysector.Withafocusonfourstrategicchargingscenarios–on-the-gocharging,fleetcharging,destinationcharging,andresidentialcharging–Autelisdevelopingplatform-basedseriesintelligentchargingsolutions.AutelwillcomprehensivelypromotethedeepapplicationofAIinenergytrading,introduceaseriesof“EnergyTradingAgents”,whileactivelyexpandingintoV2GandactivelyparticipatinginVPPenergytrading.Throughdeepexplorationofdigitalvalue-addedservices,Autelaimstosignificantlyenhancecustomers’overallprofitability.

3.AI-poweredroboticssystemscollaboration:Therisingthirdgrowthfrontier

Centeringongenerativelargelanguagemodelsspecifictoourindustriesoffocus,Autelintegratesembodiedintelligentagents,suchasairandgroundrobotstodevelopintegratedair-groundclusterintelligentsolutionsforwidedeploymentacrossenergy,transportation,andotherindustries.Thelargelanguagemodelsspecifictoourindustriesoffocusinclude:TheAutelInspectionLargelanguagemodel,whichenablesautonomousschedulinganddistributionofmultipleinspectiontasks,significantlyimprovingworkforceefficiency;theAutelMultimodalRecognitionLargelanguagemodel,whichcanprocessmultimodalinformationefficientlyincomplexscenarios,greatlyenhancinginspectionaccuracyanduserinteractionexperience;theAutelEmbodiedIntelligenceLargelanguagemodel,whichenablesautonomousoperationsandcoordinatedclusterinspections,expandscoverage,andacceleratestheautomationoftheinspectionindustry.

4.AI-drivenempowermentandexcellentorganizationalinnovation

AuteldeeplyintegratesgenerativeAIintoitsdigitalizedworkflowsandcapabilityplatforms,tofurtherimproveorganizationalefficiency,quality,andinnovation,drivedigitalandintelligenttransformationoftheorganization,andcontinuouslyenhanceoperationalcapabilities.

(1)Digitalizedworkflowsforgreaterefficiency:Auteloptimizesbusinessprocessesbyestablishingawholevalue-chainsupportsystemthatspansR&D,production,sales,and

/

services.Additionally,Autelisbuildingamodulardigitalarchitecturetailoredtoitsglobal-localoperations,ensuringhigherdevelopmentefficiency.

(2)Capabilityplatformsforhigherqualitygrowth:Autelconsolidatesitscollaborationandbusinessmanagementcapabilitiesinallbusinesssectors,optimizesresourceallocation,andmaximizesinput-outputefficiency.Autelalsodevelopingenterpriseknowledgeplatformsandbusinessanalyticsdataplatforms,andusingdata-drivendecision-makingtoenhancedecision-makingqualityandguideefficientbusinessdevelopment.

(3)Intelligentorganizationaloperationforenhancedinnovation:LeveragingtheboundlesspotentialofgenerativeAI,AutelisdevelopinganAI-powereddigitalemployeeagenttoolchain,enablingautonomousexecutionofcoreR&Ddemandanalysis,programming,andtesting.Additionally,werapidlytransformingtheoperatingmodelsofmarketing,sales,andcustomerservice.iv.Otherinformation

□Applicable√Notapplicable

/

PartIVCorporateGovernanceIOverviewofCorporateGovernance

√Applicable□NotapplicableDuringtheReportingPeriod,theCompanystrictlycompliedwiththeCompanyLaw,theSecuritiesLaw,theStockListingRulesoftheSTARMarketoftheShanghaiStockExchangeandotherapplicablelawsandregulations,aswellastheCompany’sArticlesofAssociation,rulesofproceduresandotherrules.TheCompanyhasestablishedandimproveditscorporategovernancestructureandhasensuredcomplianceinitsoperationsinaccordancewiththeregulatorydocumentsonlistedcompanygovernanceissuedbytheCSRC.TheCompanyhasfulfilleditsinformationdisclosureobligationsinafair,timely,accurate,truthfulandcompletemanner.Itsdirectorsandsupervisorshavebeendiligentandresponsible,anditsseniorexecutiveshavefaithfullyperformedtheirduties,safeguardingthebestinterestsoftheCompanyandallshareholders.Movingforward,theCompanywillcontinuetofollowtherequirementsoftheregulatoryauthorities,continuouslyimprovethecorporategovernancestructure,andcontinuouslyimprovethelevelofcompliance,soastoachievesustainable,stableandhealthydevelopment.Indicatewhethertherewasanymaterialincompliancewiththeapplicablelawsandregulations,aswellastheCSRC’srequirementsincorporategovernance.Ifyes,pleaseexplain.

□Applicable√NotapplicableIITheCompany’sStatementRegardingtheInabilitytoGuaranteeIndependenceandMaintainIndependentManagementCapabilitiesinTermsofBusiness,Personnel,Assets,Organizations,Finances,etc.withItsControllingShareholder

□Applicable√NotapplicableIndicatewhetherthecontrollingshareholder,theactualcontroller,oranyentityundertheircontrolisengagedinthesameorsimilarbusinesswiththeCompany.PleaseexplaintheimpactofhorizontalcompetitionoranysignificantchangetohorizontalcompetitionontheCompany,solutionstaken,progressandsubsequentplans.

□Applicable√Notapplicable

/

Indicatewhetherthecontrollingshareholder,theactualcontroller,oranyentityundertheircontrolisengagedinhorizontalcompetitionthathasasignificantadverseimpactontheCompany.

□Applicable√NotapplicableIIIGeneralMeetingsofShareholders

Meeting	Date	Indextodisclosedresolutions	Disclosuredate	Resolutions
TheFirstExtraordinaryGeneralMeetingofShareholdersin2024	January24,2024	AnnouncementNo.:2024-009	January25,2024	Reviewedandapproved:1.ProposalonChangingandConcludingCertainInvestmentProjectwithFundsRaisedintheIPOandUsingtheRemainingRaisedFundstoInvestinNewProject2.ProposalonChangingtheCompany’sRegisteredCapitalandRevisingtheArticlesofAssociation3.ProposalonRevisingCertainCompanySystems
The2023AnnualGeneralMeetingofShareholders	April19,2024	AnnouncementNo.:2024-037	April20,2024	Reviewedandapproved:1.Proposalonthe2023WorkReportoftheBoardofDirectors2.Proposalonthe2023WorkReportoftheSupervisoryCommittee3.Proposalonthe2023FinancialFinalAccountsReport4.Proposalonthe2023FinalDividendPlan5.Proposalonthe2023AnnualReportanditsSummary6.ProposalonAuthorizingtheManagementtoApplyforComprehensiveCreditfromFinancialInstitutions7.ProposalonAuthorizingtheManagementtoConductForeignExchangeDerivativeTransactions8.ProposalontheEstimatedAmountofGuaranteesforExternalEntitiesfor20249.ProposalonRe-appointingtheAccountingFirm10.ProposalonDirectors’Remunerationfor2023andRemunerationPlanfor202411.ProposalonSupervisors’Remunerationfor2023andRemunerationPlanfor202412.ProposalontheTransferofEquityInterestsinSubsidiary&Related-partyTransaction
TheSecondExtraordinaryGeneralMeetingof	August19,2024	AnnouncementNo.:2024-067	August20,2024	Reviewedandapproved:Proposalonthe2024InterimDividendPlan

/

Shareholdersin2024
TheThirdExtraordinaryGeneralMeetingofShareholdersin2024	October15,2024	AnnouncementNo.:2024-084	October16,2024	Reviewedandapproved:1.Proposalonthe2024EmployeeStockOwnershipPlan(Draft)anditsSummary2.ProposalontheManagementMeasuresforthe2024EmployeeStockOwnershipPlan3.ProposalonRequestingtheGeneralMeetingofShareholderstoAuthorizetheBoardofDirectorstoHandleMattersRelatedtothe2024EmployeeStockOwnershipPlan4.Proposalonthe2024RestrictedShareIncentivePlan(Draft)anditsSummary5.ProposalontheImplementation,AppraisalandManagementMeasuresforthe2024RestrictedShareIncentivePlan6.ProposalonRequestingtheGeneralMeetingofShareholderstoAuthorizetheBoardofDirectorstoHandleMattersRelatedtothe2024RestrictedShareIncentivePlan
TheFourthExtraordinaryGeneralMeetingofShareholdersin2024	December26,2024	AnnouncementNo.:2024-102	December27,2024	Reviewedandapproved:ProposalonProvidingGuaranteeforJoint-stockCompanyandRelated-partyTransaction

Extraordinarygeneralmeetingsofshareholdersconvenedattherequestofpreferenceshareholderswithresumedvotingrights:

□Applicable√NotapplicableNotestogeneralmeetingsofshareholders:

□Applicable√Notapplicable

/

IVImplementationandChangesofVotingRightsDifferentialArrangementsduringtheReportingPeriod

□Applicable√NotapplicableVCorporateGovernanceofaRedChipStructuredCompany

□Applicable√NotapplicableVIDirectors,SupervisorsandSeniorExecutivesi.Shareholdingchangesandremunerationsofincumbentdirectors,supervisors,seniorexecutivesandkeytechnicalpersonnelandthosewhoresignedbeforetheendoftheirtenuresduringtheReportingPeriod

√Applicable□Notapplicable

Unit:share

Name	Officetitle	Gender	Age	Startoftenure	Endoftenure	Openingshareholding(share)	Closingshareholding(share)	ChangeinshareholdingintheReportingPeriod(share)	Reasonforchange	Totalpre-taxremunerationreceivedfromtheCompanyintheReportingPeriod(RMB’0,000)	PaidbyanyoftheCompany’srelatedparties
LiHongjing	ChairmanoftheBoardandGeneralManager	Male	57	2014.5.30	2026.6.15	168,491,606	168,491,606	-	-	42.36	No
DengRenxiang	DirectorandDeputyGeneralManager	Male	45	2023.6.15	2026.6.15	-	-	-	-	-	No

/

NongYingbin	DirectorandDeputyGeneralManager	Female	45	2018.10.23	2026.6.15	0	0	-	-	140.00	No
YinHui	Director	Male	37	2023.6.15	2026.6.15	-	-	-	-	-	No
ChenQuanshi	IndependentDirector	Male	80	2019.4.19	2026.6.15	0	0	-	-	7.20	No
LiuYing	IndependentDirector	Female	62	2023.6.15	2026.6.15	0	0	-	-	7.20	No
LiangDanni	IndependentDirector	Female	49	2020.5.28	2026.6.15	0	0	-	-	7.20	No
QuSongsong	ChairmanoftheSupervisoryCommittee	Male	42	2023.6.15	2026.6.15	6,625	6,625	-	-	93.96	No
RenJunzhao	Supervisor	Male	49	2017.5.31	2026.6.15	0	0	-	-	3.00	No
ZhouQiufang	Supervisor	Female	44	2017.5.31	2026.6.15	129,250	129,250	-	-	55.24	No
LiXiongwei	BoardSecretary	Male	46	2024.3.29	2026.6.15	0	0	-	-	112.57	No
DengRenxiang	Keytechnicalpersonnel	Male	45	2007.11.5	2026.6.15	1,513,163	1,513,163	-	-	127.35	No
LuoYongliang	Keytechnicalpersonnel	Male	36	2012.7.1	2026.6.15	100,589	100,589	-	-	75.28	No
YinHui	Keytechnicalpersonnel	Male	37	2014.4.8	2026.6.15	105,750	105,750	-	-	135.29	No
ZhanJinyong	Keytechnicalpersonnel	Male	40	2014.4.2	2026.6.15	0	0	-	-	53.69	No
LiLu	BoardSecretary	Male	36	2023.4.28	2024.3.29	0	0	-	-	12.02	No

/

	(former)
FanYing	ChiefFinancialOfficer(former)	Female	36	2023.9.8	2024.9.28	0	0	-	-	118.82	No
Total	/	/	/	/	/	170,346,983	170,346,983	-	/	991.18	/

Name

Name	Mainworkexperience
LiHongjing	Male,Chinesenationality,noforeignpermanentresidency,bornin1968.GraduatedfromCarnegieMellonUniversity,holdingaMaster’sdegreeinBusinessAdministration.FromJuly1990toAugust1997,servedasaSalesRepresentativeatSinochemHainanCo.,Ltd.FromJuly2001toDecember2003,workedasaStrategicAnalystatPNCFinancialServicesGroupintheUnitedStates.FromJanuarytoJune2004,servedasOverseasMarketingDirectoratShenzhenLaunchTechCo.,Ltd.FromJunetoAugust2004,workedasAssistanttothePresidentatHyteraCommunicationsCorporationLimited.InSeptember2004,foundedAutelLimitedandheldpositionsthere(whichlatertransitionedintoAutelTechnology).PreviouslyservedasExecutiveDirectorandGeneralManagerofShenzhenAutelTechnologyCo.,Ltd.,andlaterasChairmanandGeneralManager.SinceMay2014,hasbeenservingasChairmanoftheBoardandGeneralManageroftheCompany.
DengRenxiang	Male,Chinesenationality,noforeignpermanentresidency,bornin1980.GraduatedfromHunanUniversityofScienceandTechnologywithadegreeinComputerMultimediaApplications.FromNovember2004toNovember2007,workedasaSoftwareEngineeratShenzhenCheboshiElectronicTechnologyCo.,Ltd.SinceNovember2007,hasbeenworkingattheCompany,previouslyservingasaSoftwareEngineer,SoftwareManager,andDirectorofApplicationSoftwareDevelopment.CurrentlyservesasDirectorandDeputyGeneralManageroftheCompany.
NongYingbin	Female,Chinesenationality,noforeignpermanentresidency,borninJuly1980.GraduatedfromCheungKongGraduateSchoolofBusinesswithanMBAinFinance.FromDecember2009toApril2012,servedasHRDirectorandDeputyGeneralManageroftheTrainingBusinessDivisionatCaixinMediaCo.,Ltd.FromMay2012toJune2018,heldthepositionsofVicePresident,Director,andGeneralManageroftheInvestmentandIndustrialParkDivisionatGuangxiYuchaiLogisticsCo.,Ltd.SinceJune2018,hasbeenworkingattheCompanyandcurrentlyservesasDirectorandDeputyGeneralManager.
YinHui	Male,Chinesenationality,noforeignpermanentresidency,bornin1988.GraduatedfromSichuanUniversitywithaBachelor’sdegreeinComputerScienceandTechnology.FromJanuary2011toJanuary2012,workedasaC++ProgrammeratWindInformationCo.,Ltd.FromJanuary2012toApril2014,servedasaC++EngineeratShenzhenHeiguCommunicationsCo.,Ltd.SinceApril2014,hasbeenworkingattheCompany,previouslyservingasSoftwareEngineer,SupervisorofSoftwareDivisionIII,DeputyManagerofSoftwareDivisionIII,andDeputyDirectorofSoftwareR&D.CurrentlyservesasaDirectoroftheCompany.
ChenQuanshi	Male,Chinesenationality,noforeignpermanentresidency,bornin1945.GraduatedfromTsinghuaUniversitywithaBachelor’sdegreeinAutomotiveEngineering.FromOctober1994toDecember1997,servedastheHeadoftheDepartmentofAutomotiveEngineeringatTsinghuaUniversity.FromJuly1996toSeptember2001,servedasViceDeanoftheSchoolofMechanicalEngineeringatTsinghuaUniversity.From1997toDecember2014,servedasDeputyDirectoroftheElectricVehicleSubcommitteeoftheNationalTechnicalCommitteeofAutoStandardization.From1998toOctober2018,servedasaDirectoroftheChinaSocietyofAutomotiveEngineersandChairmanoftheElectricVehicleDivision.FromJanuary1998toJanuary2004,servedasDeputyDirectorandDirectoroftheAutomotiveResearchInstituteofTsinghuaUniversity.From

/

	July2001toDecember2006,servedasDeputyDirectoroftheStateKeyLaboratoryofAutomotiveSafetyandEnergyConservation.SinceJanuary2015,hasbeenanAdvisortotheElectricVehicleSubcommitteeoftheNationalTechnicalCommitteeofAutoStandardization.
LiuYing	Female,Chinesenationality,noforeignpermanentresidency,bornin1963.GraduatedfromNankaiUniversitywithaMaster’sdegreeinEconomics.CurrentlyservesasanAssociateProfessorandMaster'sSupervisorattheSchoolofAccounting,CapitalUniversityofEconomicsandBusiness.
LiangDanni	Female,Chinesenationality,noforeignpermanentresidency,borninAugust1976.CurrentlyservesasanAssociateProfessorandDoctoralSupervisorattheSchoolofLaw,SunYat-senUniversity.ConcurrentlyservesasanarbitratorfortheChinaInternationalEconomicandTradeArbitrationCommission,aswellasforthearbitrationcommissionsofGuangzhou,Zhuhai,Foshan,Zhaoqing,andHuizhou.Alsopracticesasapart-timelawyer.
QuSongsong	Male,Chinesenationality,noforeignpermanentresidency,bornin1983.FromJanuary2009toJuly2011,servedasaSeniorSoftwareEngineeratShenzhenNewForceCommunicationCo.,Ltd.FromSeptember2011toMarch2014,workedasaSeniorSoftwareEngineeratShenzhenGenvictTechnologiesCo.,Ltd.FromApril2014toMay2015,servedasR&DManageratShenzhenXinlianxinElectronicTechnologyCo.,Ltd.FromJune2015toOctober2015,workedasaSeniorSoftwareEngineeratShenzhenFendaTechnologyCo.,Ltd.SinceNovember2015,hasbeenworkingattheCompanyandcurrentlyservesasChairmanoftheSupervisoryBoardandProductDirector.
RenJunzhao	Male,Chinesenationality,noforeignpermanentresidency,bornin1976.GraduatedfromFudanUniversitywithanMBA.FromAugust2000toDecember2001,servedasSecretarytotheChairmanatAnhuiHuabeiGroup.FromJanuary2002toFebruary2003,workedasanAssistantatShanghaiRongxiTradingCo.,Ltd.FromMarchtoNovember2003,servedasSalesManageratShanghaiHuaqiInformationCo.,Ltd.FromMay2007toApril2011,workedasanInvestmentManageratHan'sLaserTechnologyIndustryGroupCo.,Ltd.SinceMay2011,hasbeenworkingatShenzhenFortuneVentureCapitalCo.,Ltd.asanInvestmentPartner.SinceMay2014,hasservedasaSupervisorattheCompany.
ZhouQiufang	Female,Chinesenationality,noforeignpermanentresidency,bornin1981.GraduatedfromHunanUniversityofScienceandTechnologywithanassociatedegree.FromSeptember2003toAugust2004,workedasanAdministrativeClerkatGuangdongKangyouPharmaceuticalCo.,Ltd.SinceOctober2005,hasbeenworkingattheCompany,previouslyservingasCashier,HeadoftheTestingGroup,andDomesticSalesRegionalManageratShenzhenAutelTechnologyCo.,Ltd.CurrentlyservesasaSupervisorandDomesticSalesRegionalManagerattheCompany.
LiXiongwei	Male,Chinesenationality,noforeignpermanentresidency,bornin1979.HoldsaBachelor’sdegreeinLawfromChinaUniversityofPetroleum(EastChina)andanMBAfromPekingUniversity.ObtainedtheLegalProfessionalQualificationCertificateissuedbytheMinistryofJusticeofthePeople’sRepublicofChina.FromJuly2004toJuly2009,workedasaCorporateLawyeratFoxconnTechnologyGroup.FromJuly2009toJanuary2018,servedasLegalAffairsManager,DeputyGeneralManager,andBoardSecretaryatLuxsharePrecisionIndustryCo.,Ltd.FromJuly2018toJuly2020,servedasLegalDirector,AssistantGeneralManager,andBoardSecretaryatGuangdongLingyiiTechManufacturingCo.,Ltd.FromMarch2021toSeptember2023,servedasBoardSecretaryatRootcloudCo.,Ltd.SinceMarch2024,hasbeenservingasBoardSecretaryoftheCompany.
LuoYongliang	Male,Chinesenationality,noforeignpermanentresidency,bornin1989.GraduatedfromHunanUniversitywithaBachelor’sdegreeinElectronicScienceandTechnology.Since2012,hasbeenworkingattheCompany,previouslyservingasSoftwareEngineerintheSystemPlatformDepartmentandProjectManagerofSoftwareDivisionIII.CurrentlyservesasSoftwareSupervisoroftheTPMSDivisionandisoneofthekeyleadersoftheTPMSproductline.
ZhanJinyong	Male,Chinesenationality,noforeignpermanentresidency,bornin1985.GraduatedfromHuazhongUniversityofScienceandTechnologywithaMaster’sdegreeinImageRecognitionandArtificialIntelligence.FromMarch2011toJune2013,workedasaMonitoringSoftwareDevelopment

/

Otherinformation:

□Applicable√Notapplicable

/

ii.Officesheldbyincumbentdirectors,supervisorsandseniorexecutivesandthosewhoresignedbeforetheendoftheirtenuresduringtheReportingPeriod

1.Officesheldconcurrentlyinshareholdingentities

□Applicable√Notapplicable

2.Officesheldconcurrentlyinotherentities

√Applicable□Notapplicable

Name	Otherentity	Officeheldinotherentity	Startoftenure	Endoftenure
LiHongjing	AutelRoboticsCo.,Ltd.	ChairmanoftheBoard	May2014	/
	ShenzhenDaoHeTongYingInvestmentCo.,Ltd.	ExecutiveDirectorandGeneralManager	April2021	/
	BeijingJingtaiheCultureCo.,Ltd.	ExecutiveDirectorandManager	August2021	/
	ShenzhenDaoHeZhiBoInformationConsultingEnterprise(L.P.)	ManagingPartner	September2020	/
	ShenzhenDaoHeZhiBenInformationConsultingEnterprise(L.P.)	ManagingPartner	September2020	/
NongYingbin	ShenzhenDaoHeTongHuiInformationConsultingEnterprise(L.P.)	ManagingPartner	May2022	/
	NingboHuishunInvestmentPartnership(L.P.)	ManagingPartner	November2018	/
	ShenzhenHuiTongJiaChengBusinessManagementCo.,Ltd.	DirectorandManager	October2024	/
ChenQuanshi	HefeiGCNewEnergyVehicleTechnologyCo.,Ltd.	Director	December2010	/
	OngoalTechnologyCo.,Ltd.	IndependentDirector	December2020	/
	MinthGroupLimited	IndependentDirector	April2021	April2024
	YoupinAutomotiveServiceGroupCo.,Ltd.	IndependentDirector	January2023	/
LiuYing	CapitalUniversityofEconomicsandBusiness	AssociateProfessor	July1999	/
	ShaanxiHuaqinTechnologyIndustryCo.,Ltd.	IndependentDirector	December2020	/
	GuangdongSongfaCeramicsCo.,Ltd.	IndependentDirector	November2021	/

/

LiangDanni	SunYat-senUniversity	AssociateProfessorandDoctoralSupervisorofLawSchool	July2006	/
	ChinaInternationalEconomicandTradeArbitrationCommission	Arbitrator	March2014	/
	GuangdongAdvertisingGroupCo.,Ltd.	IndependentDirector	January2020	/
	AMERTechnologyCo.,Ltd.	IndependentDirector	May2020	/
	GuangzhouGoalandEnergyConservationTechCo.,Ltd.	IndependentDirector	March2024	/
RenJunzhao	ShenzhenFortuneCaizhiVentureCapitalManagementCo.,Ltd.	Partner	May2011	/
	ShinryTechnologiesCo.,Ltd.	Director	April2015	/
	LeishenIntelligentSystemCo.,Ltd.	Director	July2018	/
	ShenzhenHuazhiIntelligentManufacturingTechnologyCo.,Ltd.	Director	October2017	/
	BeijingHammerheadTechnologyCo.,Ltd.	Director	June2016	/
	GuangzhouWanmeNetworkTechnologyCo.,Ltd	Director	January2019	/
	ShanghaiGuochenVentureCapitalManagementCo.,Ltd.	Director	August2023	/
LiXiongwei	ShenzhenLongxuManagementConsultingCo.,Ltd	ExecutiveDirectorandGeneralManager	August2023	/
Note	None

iii.Remunerationsofdirectors,supervisors,seniorexecutivesandkeytechnicalpersonnel

√Applicable□Notapplicable

Unit:RMB’0,000

Decision-makingproceduresfortheremunerationofdirectors,supervisorsandseniorexecutives

TheremunerationoftheCompany’sdirectorsandseniorexecutivesisassessedbytheRemunerationandAppraisalCommitteeoftheBoardofDirectorsinaccordancewiththerelevantprovisionsoftheCompany’sArticlesofAssociation,theRulesofProcedureoftheRemunerationandAppraisalCommitteeoftheBoardofDirectors,etc.TheremunerationofseniorexecutivesisapprovedbytheBoardofDirectorsinaccordancewiththerelevantprovisionsoftheCompany’sArticlesofAssociation,etc.AndtheremunerationoftheCompany’sdirectorsandsupervisorsisapprovedbytheCompany’s

/

	generalmeetingofshareholdersinaccordancewiththerelevantprovisionsoftheCompany’sArticlesofAssociation,etc.
Whetheradirectorrecusedhimself/herselffromtheBoard’sdiscussionofhis/herremunerationmatters	Yes
DetailsofrecommendationsissuedbytheRemunerationandAppraisalCommitteeorindependentdirectorsatanyspecialmeetingonmattersrelatingtotheremunerationsofdirectors,supervisorsandseniorexecutives	OnMarch27,2025,theProposalonDirectors’Remunerationfor2024andRemunerationPlanfor2025andtheProposalonSeniorExecutives’Remunerationfor2024andRemunerationPlanfor2025werereviewedandapprovedattheSixthMeetingoftheRemunerationandAppraisalCommitteeoftheFourthBoardofDirectors.
Basisfordeterminingtheremunerationofdirectors,supervisorsandseniorexecutives	1.Directors'Remuneration:(1)Non-independentdirectorsreceiveapre-taxdirector’sallowanceofRMB2,500permonth.ThoseholdingotherpositionswithintheCompanyoritssubsidiariesreceiveremunerationbasedontheirspecificmanagementroles,inaccordancewiththeCompany'sorsubsidiaries'remunerationandperformanceevaluationmanagementsystem.TheCompanymayadjustthebasicsalaryofseniormanagementpersonnelconsideringfactorssuchasposition,responsibilities,capabilities,andmarketsalarylevels.PerformancebonusesaredeterminedandawardedbasedontheCompany'soperatingresultsandindividualperformanceevaluations.(2)Independentdirectorsreceiveremunerationintheformofanallowance,setatRMB72,000peryear(pre-tax),whichispaidonamonthlybasis.2.Supervisors'Remuneration:Companysupervisorsreceiveapre-taxsupervisor’sallowanceofRMB2,500permonth.SupervisorswhoholdspecificpositionswithintheCompany,inadditiontothesupervisor’sallowance,receiveremunerationbasedontheirrolesandareevaluatedaccordingtotheCompany'sremunerationandperformanceassessmentmanagementsystem.TheCompanymayadjustthebasicsalaryofseniormanagementpersonnelconsideringfactorssuchasposition,responsibilities,capabilities,andmarketsalarylevels.PerformancebonusesaredeterminedandawardedbasedontheCompany'soperatingresultsandindividualperformanceevaluations.3.SeniorManagementRemuneration:SeniormanagementpersonnelreceiveremunerationbasedontheirspecificpositionswithintheCompanyandareassessedinaccordancewiththeCompany’sremunerationandperformanceevaluationmanagementsystem.TheCompanymayadjustthebasicsalaryofseniormanagementpersonnelconsideringfactorssuchasposition,responsibilities,capabilities,andmarketsalarylevels.PerformancebonusesaredeterminedandawardedbasedontheCompany'soperatingresultsandindividualperformanceevaluations.
Actualpaymentofremunerationfordirectors,supervisorsandseniorexecutives	DuringtheReportingPeriod,theactualremunerationpaidtotheCompany’sdirectors,supervisorsandseniorexecutiveswasconsistentwiththeinformationdisclosedbytheCompany.
Totalactualremunerationreceivedbyalldirectors,supervisorsandseniorexecutivesattheendoftheReportingPeriod	991.18
Totalactualremuneration	391.61

/

iv.Changesofdirectors,supervisors,seniorexecutivesandkeytechnicalpersonnel

√Applicable□Notapplicable

receivedbykeytechnicalpersonnelattheendoftheReportingPeriodName

Name	Officetitle	Typeofchange	Reasonforchange
LiLu	BoardSecretary	Resignation	Personalreasons
FanYing	ChiefFinancialOfficer	Resignation	Personalreasons
LiXiongwei	BoardSecretary	Appointed	Appointed

v.Punishmentsimposedbysecuritiesregulatorsinthelastthreeyears

□Applicable√Notapplicablevi.Otherinformation

□Applicable√NotapplicableVIIBoardMeetingsConvenedduringtheReportingPeriod

Meeting	Date	Resolutions
TheSeventhMeetingoftheFourthBoardofDirectors	January8,2024	Reviewedandapproved:1.ProposalonChangingandConcludingCertainInvestmentProjectwithFundsRaisedintheIPOandUsingtheRemainingRaisedFundstoInvestinNewProject2.ProposalonChangingtheCompany’sRegisteredCapitalandRevisingtheArticlesofAssociation3.ProposalonRevisingCertainCompanySystems4.ProposalonConveningtheFirstExtraordinaryGeneralMeetingofShareholdersin2024
TheEighthMeetingoftheFourthBoardofDirectors	March8,2024	Reviewedandapproved:1.ProposalonNotAdjustingDownwardthePriceofthe“AutelConvertibleCorporateBond”-to-StockConversion
TheNinthMeetingoftheFourthBoardofDirectors	March29,2024	Reviewedandapproved:1.Proposalonthe2023WorkReportoftheBoardofDirectors2.Proposalonthe2023WorkReportoftheGeneralManager3.Proposalonthe2023FinancialFinalAccountsReport4.Proposalonthe2023FinalDividendPlan5.Proposalonthe2023AnnualReportanditsSummary6.ProposalonUsingIdleOwnFundsforEntrustedFinancialManagement7.ProposalonUsingTemporarilyIdleRaisedFundsforCashManagement8.Proposalonthe2023PerformanceReportoftheAuditCommitteeoftheBoardofDirectors9.ProposalontheReportontheAuditCommitteeoftheBoardofDirectors’PerformanceofSupervisoryResponsibilitiesontheAccountingFirmin202310.ProposalontheAssessmentReportonthePerformanceofthe

/

		AccountingFirm11.Proposalonthe2023PerformanceReportofIndependentDirectors12.ProposalontheSelf-examinationofIndependenceofIndependentDirectors13.ProposalonAuthorizingtheManagementtoApplyforComprehensiveCreditfromFinancialInstitutions14.ProposalonAuthorizingtheManagementtoConductForeignExchangeDerivativeTransactions15.ProposalontheSpecialReportontheDepositandActualUseofRaisedFundsin202316.Proposalonthe2023InternalControlAssessmentReport17.ProposalontheEstimatedAmountofGuaranteesforExternalEntitiesfor202418.ProposalonRe-appointingtheAccountingFirm19.Proposalonthe2023ESGReport20.ProposalontheCompany’s2024ActionPlanfor“ImprovingQuality,IncreasingEfficiencyandEmphasizingShareholderReturn”21.ProposalontheAppointmentofBoardSecretary22.ProposalontheAppointmentofSecuritiesRepresentative23.ProposalonDirectors’Remunerationfor2023andRemunerationPlanfor202424.ProposalonSeniorExecutives’Remunerationfor2023andRemunerationPlanfor202425.ProposalontheEstimatedContinuingRelated-partyTransactionsbetweentheCompanyandAutelRoboticsCo.,Ltd.26.ProposalontheTransferofEquityInterestsinSubsidiary&Related-partyTransaction27.ProposalonConveningthe2023AnnualGeneralMeetingofShareholders
The10thMeetingoftheFourthBoardofDirectors	April25,2024	Reviewedandapproved:1.Proposalonthe2024FirstQuarterlyReport2.ProposalonCancellingCertainRestrictedSharesGrantedbutNotYetVestedunderthe2020RestrictedShareIncentivePlan3.ProposalonCancellingCertainRestrictedSharesGrantedbutNotYetVestedunderthe2021RestrictedShareIncentivePlan
The11thMeetingoftheFourthBoardofDirectors	May10,2024	Reviewedandapproved:1.ProposalonAdjustingthePriceofthe“AutelConvertibleCorporateBond”-to-StockConversionduetothe2023FinalDividendPayout2.ProposalonAdjustingtheUpperLimitofShareRepurchasePriceduetothe2023FinalDividendPayout
The12thMeetingoftheFourthBoardofDirectors	August1,2024	Reviewedandapproved:1.Proposalonthe2024InterimReportanditsSummary2.ProposalontheSpecialReportontheDepositandActualUseofRaisedFundsintheFirstHalfof20243.Proposalonthe2024InterimDividendPlan4.ProposalontheInterimAssessmentReportonthe2024ActionPlanfor“ImprovingQuality,IncreasingEfficiencyandEmphasizingShareholderReturn”5.ProposalonConveningtheSecondExtraordinaryGeneralMeetingofShareholdersin2024
The13thMeetingoftheFourthBoardofDirectors	September2,2024	Reviewedandapproved:1.ProposalonAdjustingthePriceofthe“AutelConvertibleCorporateBond”-to-StockConversionduetothe2024InterimDividendPayout2.ProposalonAdjustingtheUpperLimitofShareRepurchasePriceduetothe2024InterimDividendPayout
The14thMeetingofthe	September28,2024	Reviewedandapproved:1.Proposalonthe2024EmployeeStockOwnershipPlan(Draft)and

/

FourthBoardofDirectors		itsSummary2.ProposalontheManagementMeasuresforthe2024EmployeeStockOwnershipPlan3.ProposalonRequestingtheGeneralMeetingofShareholderstoAuthorizetheBoardofDirectorstoHandleMattersRelatedtothe2024EmployeeStockOwnershipPlan4.Proposalonthe2024RestrictedShareIncentivePlan(Draft)anditsSummary5.ProposalontheImplementation,AppraisalandManagementMeasuresforthe2024RestrictedShareIncentivePlan6.ProposalonRequestingtheGeneralMeetingofShareholderstoAuthorizetheBoardofDirectorstoHandleMattersRelatedtothe2024RestrictedShareIncentivePlan7.ProposalontheFormulationofthePublicOpinionManagementRulesofAutelIntelligentTechnologyCorp.,Ltd.8.ProposalonConveningtheThirdExtraordinaryGeneralMeetingofShareholdersin2024
The15thMeetingoftheFourthBoardofDirectors	October21,2024	Reviewedandapproved:1.Proposalonthe2024ThirdQuarterlyReport2.ProposalonAdjustingtheListofAwardeesofthe2024RestrictedShareIncentivePlan3.ProposalonGrantingRestrictedSharestoAwardeesofthe2024RestrictedShareIncentivePlan
The16thMeetingoftheFourthBoardofDirectors	October29,2024	Reviewedandapproved:1.ProposalonAddingImplementingEntitiesandLocationsforCertainRaisedFundsInvestedProjectsandExtendingTheirDuration
The17thMeetingoftheFourthBoardofDirectors	December10,2024	Reviewedandapproved:1.ProposalonProvidingGuaranteeforJoint-stockCompanyandRelated-partyTransaction2.ProposalontheFormulationoftheMarketValueManagementRulesofAutelIntelligentTechnologyCorp.,Ltd.3.ProposalonConveningtheFourthExtraordinaryGeneralMeetingofShareholdersin2024

VIIIPerformanceofDutybyDirectorsi.AttendanceofdirectorsatboardmeetingsandgeneralmeetingsofshareholdersduringtheReportingPeriod

Nameofdirector	Independentdirectorornot	Attendanceatboardmeetings						Attendanceatgeneralmeetingsofshareholders
		Totalnumberofboardmeetingsthedirectorwas	Boardmeetingsattendedonsite	Boardmeetingsattendedbywayoftelecommunication	Boardmeetingsattendedthroughaproxy	Absence	Thedirectorfailedtoattendtwoconsecutiveboardmeetings	Totalnumberofgeneralmeetingsofshareholdersthedirector

/

		supposedtoattend					(yes/no)	wassupposedtoattend
LiHongjing	No	11	11	0	0	0	No	5
DengRenxiang	No	11	11	3	0	0	No	5
NongYingbin	No	11	11	0	0	0	No	5
YinHui	No	11	11	6	0	0	No	5
ChenQuanshi	Yes	11	11	11	0	0	No	5
LiangDanni	Yes	11	11	11	0	0	No	5
LiuYing	Yes	11	11	10	0	0	No	5

Explainwhyanydirectorfailedtoattendtwoconsecutiveboardmeetings.

□Applicable√Notapplicable

TotalnumberofboardmeetingsconvenedintheReportingPeriod	11
Ofwhich:on-sitemeetings	0
Meetingsconvenedbywayoftelecommunication	0
Meetingswhereon-siteattendanceandattendancebytelecommunicationwerebothallowed	11

ii.ObjectionsraisedbydirectorsonmattersoftheCompany

□Applicable√Notapplicableiii.Otherinformation

□Applicable√NotapplicableIXSpecialCommitteesundertheBoardofDirectors

√Applicable□Notapplicablei.Membersofthespecialcommittees

Specialcommittee	Members
TheAuditCommittee	LiuYing,LiangDanni,andYinHui
TheNominationCommittee	LiangDanni,ChenQuanshi,andNongYingbin
TheRemunerationand	ChenQuanshi,LiuYing,andYinHui

/

AppraisalCommittee
TheStrategicCommittee	LiHongjing,NongYingbin,andDengRenxiang

ii.TheAuditCommitteeheldfourmeetingsduringtheReportingPeriod.

Date	Contents	Importantcommentsandsuggestions	Performanceofotherduties
March28,2024	1.Proposalonthe2023FinancialFinalAccountsReport2.Proposalonthe2023FinalDividendPlan3.Proposalonthe2023AnnualReportanditsSummary4.ProposalonUsingTemporarilyIdleRaisedFundsforCashManagement5.Proposalonthe2023PerformanceReportoftheAuditCommitteeoftheBoardofDirectors6.ProposalontheReportontheAuditCommitteeoftheBoardofDirectors’PerformanceofSupervisoryResponsibilitiesontheAccountingFirmin20237.ProposalontheAssessmentReportonthePerformanceoftheAccountingFirm8.Proposalonthe2023InternalControlAssessmentReport9.ProposalonRe-appointingtheAccountingFirmfor2024	TheAuditCommitteecarriedoutitsworkinadiligentandresponsiblemannerinstrictaccordancewiththeCompanyLaw,theregulatoryrulesoftheCSRC,theCompany’sArticlesofAssociationandRulesofProcedureoftheBoardofDirectors.Anduponsufficientcommunicationanddiscussion,allproposalswerepassedunanimously.	None
April24,2024	1.Proposalonthe2024FirstQuarterlyReport	TheAuditCommitteecarriedoutitsworkinadiligentandresponsiblemannerinstrictaccordancewiththeCompanyLaw,theregulatoryrulesoftheCSRC,theCompany’sArticlesofAssociationandRulesofProcedureoftheBoardofDirectors.Anduponsufficientcommunicationanddiscussion,allproposalswerepassedunanimously.	None
July31,2024	1.Proposalonthe2024InterimReportanditsSummary2.Proposalonthe2024InterimDividendPlan	TheAuditCommitteecarriedoutitsworkinadiligentandresponsiblemannerinstrictaccordancewiththeCompanyLaw,theregulatoryrulesoftheCSRC,theCompany’sArticlesofAssociationandRulesofProcedureoftheBoardofDirectors.Anduponsufficientcommunicationanddiscussion,allproposalswerepassedunanimously.	None

/

October18,2024

1.Proposalonthe2024ThirdQuarterlyReport

TheAuditCommitteecarriedoutitsworkinadiligentandresponsiblemannerinstrictaccordancewiththeCompanyLaw,theregulatoryrulesoftheCSRC,theCompany’sArticlesofAssociationandRulesofProcedureoftheBoardofDirectors.Anduponsufficientcommunicationanddiscussion,allproposalswerepassedunanimously.

None

iii.TheNominationCommitteeheldonemeetingduringtheReportingPeriod.

Date	Contents	Importantcommentsandsuggestions	Performanceofotherduties
March28,2024	1.ProposalontheAppointmentofBoardSecretary	TheNominationCommitteecarriedoutitsworkinadiligentandresponsiblemannerinstrictaccordancewiththeCompanyLaw,theregulatoryrulesoftheCSRC,theCompany’sArticlesofAssociationandRulesofProcedureoftheBoardofDirectors.Anduponsufficientcommunicationanddiscussion,allproposalswerepassedunanimously.	None

iv.TheRemunerationandAppraisalCommitteeheldfourmeetingsduringtheReportingPeriod.

Date	Contents	Importantcommentsandsuggestions	Performanceofotherduties
March28,2024	1.ProposalonDirectors’Remunerationfor2023andRemunerationPlanfor20242.ProposalonSeniorExecutives’Remunerationfor2023andRemunerationPlanfor2024	TheRemunerationandAppraisalCommitteecarriedoutitsworkinadiligentandresponsiblemannerinstrictaccordancewiththeCompanyLaw,theregulatoryrulesoftheCSRC,theCompany’sArticlesofAssociationandRulesofProcedureoftheBoardofDirectors.Anduponsufficientcommunicationanddiscussion,allproposalswerepassedunanimously.	None
April24,	1.ProposalonCancellingCertainRestricted	TheRemunerationand	None

/

2024	SharesGrantedbutNotYetVestedunderthe2020RestrictedShareIncentivePlan2.ProposalonCancellingCertainRestrictedSharesGrantedbutNotYetVestedunderthe2021RestrictedShareIncentivePlan	AppraisalCommitteecarriedoutitsworkinadiligentandresponsiblemannerinstrictaccordancewiththeCompanyLaw,theregulatoryrulesoftheCSRC,theCompany’sArticlesofAssociationandRulesofProcedureoftheBoardofDirectors.Anduponsufficientcommunicationanddiscussion,allproposalswerepassedunanimously.
September28,2024	1.Proposalonthe2024EmployeeStockOwnershipPlan(Draft)anditsSummary2.ProposalontheManagementMeasuresforthe2024EmployeeStockOwnershipPlan3.ProposalonRequestingtheGeneralMeetingofShareholderstoAuthorizetheBoardofDirectorstoHandleMattersRelatedtothe2024EmployeeStockOwnershipPlan4.Proposalonthe2024RestrictedShareIncentivePlan(Draft)anditsSummary5.ProposalontheImplementation,AppraisalandManagementMeasuresforthe2024RestrictedShareIncentivePlan6.ProposalonRequestingtheGeneralMeetingofShareholderstoAuthorizetheBoardofDirectorstoHandleMattersRelatedtothe2024RestrictedShareIncentivePlan	TheRemunerationandAppraisalCommitteecarriedoutitsworkinadiligentandresponsiblemannerinstrictaccordancewiththeCompanyLaw,theregulatoryrulesoftheCSRC,theCompany’sArticlesofAssociationandRulesofProcedureoftheBoardofDirectors.Anduponsufficientcommunicationanddiscussion,allproposalswerepassedunanimously.	None
October21,2024	1.ProposalonAdjustingtheListofAwardeesofthe2024RestrictedShareIncentivePlan2.ProposalonGrantingRestrictedSharestoAwardeesofthe2024RestrictedShareIncentivePlan	TheRemunerationandAppraisalCommitteecarriedoutitsworkinadiligentandresponsiblemannerinstrictaccordancewiththeCompanyLaw,theregulatoryrulesoftheCSRC,theCompany’sArticlesofAssociationandRulesofProcedureoftheBoardofDirectors.Anduponsufficientcommunicationanddiscussion,allproposalswerepassedunanimously.	None

v.TheStrategicCommitteeheldtwomeetingsduringtheReportingPeriod.

Date	Contents	Importantcommentsandsuggestions	Performanceofotherduties
March28,2024	1.ProposalontheCompany’s2024ActionPlanfor“ImprovingQuality,IncreasingEfficiencyandEmphasizingShareholder	TheStrategicCommitteecarriedoutitsworkinadiligentandresponsible	None

/

	Return”	mannerinstrictaccordancewiththeCompanyLaw,theregulatoryrulesoftheCSRC,theCompany’sArticlesofAssociationandRulesofProcedureoftheBoardofDirectors.Anduponsufficientcommunicationanddiscussion,allproposalswerepassedunanimously.
July31,2024	1.ProposalontheInterimAssessmentReportonthe2024ActionPlanfor“ImprovingQuality,IncreasingEfficiencyandEmphasizingShareholderReturn”	TheStrategicCommitteecarriedoutitsworkinadiligentandresponsiblemannerinstrictaccordancewiththeCompanyLaw,theregulatoryrulesoftheCSRC,theCompany’sArticlesofAssociationandRulesofProcedureoftheBoardofDirectors.Anduponsufficientcommunicationanddiscussion,allproposalswerepassedunanimously.	None

vi.Objections

□Applicable√NotapplicableXRisksDetectedbytheSupervisoryCommittee

□Applicable√NotapplicableTheSupervisoryCommitteeraisednoobjectionsduringtheReportingPeriod.XIEmployeesoftheParentCompanyandItsPrincipalSubsidiariesatthePeriod-endi.Employees

Numberofin-serviceemployeesoftheparentcompany	736
Numberofin-serviceemployeesofprincipalsubsidiaries	2,008
Totalnumberofin-serviceemployees	2,744
Numberofretireestowhomtheparentcompanyoritsprincipalsubsidiariesneedtopayretirementpensions	2
Functions
Function	Employees
Production	1,034
Sales	456
Technical	995

/

Financial	29
Administrative	230
Total	2,744
Educationalbackground
Educationalbackground	Employees
Doctoraldegree	10
Master’sdegree	368
Bachelor’sdegree	1,201
Juniorcollegeandbelow	1,165
Total	2,744

ii.Remunerationpolicy

√Applicable□NotapplicableInalignmentwithAutel’sbusinessdevelopment,ashort-,medium-,andlong-termincentivemechanismhasbeenestablishedtoensureexternalcompetitiveness,internalmotivation,andrelativefairness.Thissystemisdesignedtoattractandretainoutstandingtalent.GuidedbyAutel’sstrategicobjectives,organizationalperformancegoalsaresystematicallybrokendownandassignedfromthetopdown,ensuringtheeffectiveimplementationofstrategictargetsthroughawell-developedperformancemanagementsystem.Byleveragingvariousmeanssuchasvaluecreationanddistribution,Autelcontinuouslyenhancesandimprovestheperformanceofemployeesatalllevels,facilitatestheachievementofstrategicgoals,andselectsexceptionaltalenttosupportitsgrowth.iii.Trainingplans

√Applicable□NotapplicableDuringtheReportingPeriod,Autelmaintainedacomprehensivetrainingsystem.Throughacombinationofinstructor-ledcourses,experientialactivities,mentorshipprograms,andon-the-jobtraining,newemployeesaresupportedinquicklyunderstandingAutelandintegratingintotheirteams.Additionally,Autelimplementsatieredandhierarchicalapproach,usingaproject-basedtrainingmodeltodevelopandsupplyalargepooloftalent.Recognizinghumanresourcesasitsmostvaluableasset,Autelhasestablishedawell-structuredemployeeeducationandtrainingmanagementsystemtoprovidecontinuousandtargetedtrainingopportunities.Committedtoimprovingthecompetenceandskillsofemployeesatalllevels,Autelconsiderstheneedsofdifferentjobrolesandorganizationallevelswhenformulatingandimplementingtrainingplans.Acombinationofin-houseandexternaltrainingisutilized,withdeliverymethodssuchaslectures,hands-onpractice,andcasestudydiscussions.Fornewemployees,Auteloffers

/

inductiontrainingandamentorshipprogram.Forexistingemployees,ateamofhighlyskilledinternaltrainersprovidesregularoradhocprofessionaltraining.Formanagementpersonnel,Autelorganizesperiodicleadershiptrainingsessions.Theseinitiativesensureemployeesatalllevelsreceiverole-specifictraininginareassuchasonboarding,professionaldevelopment,andmanagementskills.iv.Laboroutsourcing

√Applicable□Notapplicable

Totalhoursoflaboroutsourcing	220,572.30
Totalpaymentforlaboroutsourcing(RMB’0,000)	5,327.07

XIIFinalDividendPlani.Formulation,executionandadjustmentsofthecashdividendpolicy

√Applicable□Notapplicable

TheCompanyhasimplementeditscashdividendpolicyinstrictaccordancewiththeNotificationonFurtherImplementationofMattersRegardingCashDividendsofListedCompaniesandtheRegulatoryGuidelineNo.3forListedCompanies-CashDividendsofListedCompaniesissuedbytheChinaSecuritiesRegulatoryCommission,theGuidelinesonCashDividendsofListedCompaniesissuedbytheShanghaiStockExchange,theStockListingRulesoftheSTARMarketoftheShanghaiStockExchange,andtheCompany’sArticlesofAssociation.TheProposalonthe2024FinalDividendPlanwasreviewedandapprovedatthe18thMeetingoftheFourthBoardofDirectorsonMarch28,2025.AsresolvedbytheBoardofDirectors,the2024finaldividendplanincludesacashdividendandabonusissuefromcapitalreservesbasedonthetotalsharecapitalminusthesharesintheCompany’saccountofrepurchasedsharesattherecorddateforthedividendpayout,withdetailsasfollows:

1.TheCompanyintendstopayacashdividendofRMB5(taxinclusive)per10sharestoshareholders.AsofMarch20,2025,basedonthetotalsharecapitalof451,878,499sharesminusthe6,359,282sharesintheCompany’saccountofrepurchasedshares,thetotalcashdividendamounttobedistributedisRMB222,759,609.50(taxinclusive),accountingfor34.76%ofthenetprofitattributabletothelistedcompany’sshareholdersintheconsolidatedfinancialstatementsof2024.

/

Thetotalcashdividendamountforthefullyear(includingtheinterimcashdividendpayout)isRMB399,117,890.10,andtheamountofcashusedasconsiderationtorepurchasesharesontheopenmarketisRMB146,540,449.03intheyear.ThetwoamountscombinedisRMB545,658,339.13,accountingfor85.14%ofthenetprofitattributabletothelistedcompany’sshareholdersintheyear.Inparticular,theamountofcashusedasconsiderationfortherepurchaseandretirementofshares(hereinafterreferredtoasthe“RepurchaseandRetirementofShares”)ontheopenmarketisnil.This,togetherwiththetotalcashdividendamountforthefullyear,totalRMB399,117,890.10,accountingfor

62.27%ofthenetprofitattributabletothelistedcompany’sshareholdersintheyear.

2.TheCompanyintendstomakeabonusissueof4.9additionalsharesforevery10sharesheldbyshareholdersfromcapitalreservesinsteadofprofit.AsofMarch20,2025,basedonthetotalsharecapitalof451,878,499sharesminusthe6,359,282sharesintheCompany’saccountofrepurchasedshares,thetotaladditionalsharesinthebonusissueare218,304,416,andthetotalsharecapitalwillincreaseto670,182,915sharesuponthebonusissue(sharecapitalsubjecttothenumberregisteredwiththeShanghaibranchofChinaSecuritiesDepositoryandClearingCorporationLimited,withtaildifference,ifany,duetorounding).

3.AsofthedateofdisclosureofthisReport,theCompanyheld6,359,282sharesinitsaccountofrepurchasedshares,whichareexcludedfromthefinaldividendplan(inclusiveofthebonusissue).

4.WhereanychangeoccurstothetotalsharecapitaloftheCompanyduetoanyconvertiblebond-to-stockconversion/repurchaseofsharesandothermattersduringtheperiodfromthedateofdisclosureofthisReporttotherecorddateforthedividendpayout,thecashdividendandbonusissuepershareshallremainthesamewhilethetotalpayoutandbonusissueamountshallbeadjustedaccordingly.Ifanychangeoccurstothetotalsharecapitalafterthesaidperiod,thespecificadjustmentswillbeannouncedseparately.

Thisfinaldividendplanmustbesubmittedtothe2024AnnualGeneralMeetingofShareholdersforreviewandapprovalbeforeitcanbeimplemented.ii.Specialstatementonthecashdividendpolicy

√Applicable□Notapplicable

IncompliancewiththeCompany’sArticlesofAssociationortherelevantresolutionsofgeneralmeetingofshareholders	√Yes□No
Specificandcleardividendstandardsandratios	√Yes□No

/

Completedecision-makingprocedureandmechanism	√Yes□No
Independentdirectorshavefaithfullyperformedtheirdutiesandplayedtheirduerole	√Yes□No
Non-controllingshareholdersareabletofullyexpresstheiropinionanddemandandtheirlegalrightsandinterestsarefullyprotected	√Yes□No

iii.WheretheCompanyfailstoputforwardacashdividendproposaldespitethefactsthattheCompanyhasmadeprofitsintheReportingPeriodandtheprofitsoftheparentcompanydistributabletoshareholdersarepositive,itshallgiveadetailedexplanationofwhy,aswellasofthepurposeanduseplanfortheretainedearnings.

□Applicable√Notapplicableiv.FinaldividendplanfortheReportingPeriod

√Applicable□Notapplicable

Unit:RMB

Bonusissuefromprofit(share/10shares)	0
Cashdividend/10shares(taxinclusive)	5.00
Bonusissuefromcapitalreserves(share/10shares)	4.90
Cashdividends(taxinclusive)	222,759,608.50
Consolidatednetprofitattributabletotheordinaryshareholdersofthelistedcompanyintheyear	640,925,193.32
Cashdividendsas%ofconsolidatednetprofitattributabletotheordinaryshareholdersofthelistedcompany	34.76
Cashdividendsinformofsharerepurchaseincash	146,540,449.03
Totaldividendamount(taxinclusive)	369,300,057.53
Totaldividendamountas%ofconsolidatednetprofitattributabletotheordinaryshareholdersofthelistedcompany	57.62

v.Cashdividendsforthelastthreeaccountingyears

√Applicable□Notapplicable

Unit:RMB

Netprofitattributabletothelistedcompany’sshareholdersintheconsolidatedfinancialstatementsofthelastaccountingyear	640,925,193.32
Closingretainedearningsintheparentcompany’sfinancialstatementsofthelastaccountingyear	670,340,380.58
Totalcashdividendamount(taxinclusive)forthelastthreeaccountingyears(1)	575,476,171.70
Totalamountusedtorepurchasesharesforretirementinthelastthreeaccountingyears(2)	-

/

Totalcashdividendamountandamountusedtorepurchasesharesforretirementforthelastthreeaccountingyears(3)=(1)+(2)	575,476,171.70
Averagenetprofitinthelastthreeaccountingyears(4)	307,397,260.74
Cashdividendpayoutratioforthelastthreeaccountingyears(%)(5)=(3)/(4)	187.21
TotalR&Dinvestmentamountinthelastthreeaccountingyears	1,888,084,766.72
TotalR&Dinvestmentamountas%oftotaloperatingrevenueinthelastthreeaccountingyears	19.98

XIIIStatusandImpactofShareIncentivePlans,EmployeeStockOwnershipPlansorOtherIncentiveMeasuresforEmployeesi.Generalinformationofequityincentives

√Applicable□Notapplicable

1.EquityincentiveplansduringtheReportingPeriod

Unit:RMB

Equityincentiveplan	Typeofincentive	Numberofunderlyingshares	Underlyingsharesas%oftotalshares	Numberofawardees	Awardeesas%oftotalemployees	Grantpriceofunderlyingshares
Autel2020RestrictedShareIncentivePlan	ClassIIrestrictedstock	12,580,000	2.80	213	9.20	26.4
Autel2021RestrictedShareIncentivePlan	ClassIIrestrictedstock	6,200,000	1.38	216	9.33	52
Autel2024RestrictedShareIncentivePlan	ClassIIrestrictedstock	9,769,600	2.16	231	9.73	13.29

Note:The“totalshares”in“underlyingsharesas%oftotalshares”inthetableabovereferstothetotalsharecapitaloftheCompanyatthetimeoftheannouncementofthedraftincentiveplan.

2.ProgressofequityincentiveimplementationduringtheReportingPeriod

√Applicable□Notapplicable

Unit:share

/

Equityincentiveplan	Openingequityincentivesgranted	NewgrantduringtheReportingPeriod	Availableforvesting/exercise/unlockingduringtheReportingPeriod	Vested/exercised/unlockedduringtheReportingPeriod	Grant/exerciseprice(RMB)	Closingequityincentivesgranted	Vested/exercised/unlockedattheperiod-end
Autel2020RestrictedShareIncentivePlan	11,940,000	0	0	0	26.4	11,940,000	1,869,675
Autel2021RestrictedShareIncentivePlan	5,945,000	0	0	0	52	5,945,000	0
Autel2024RestrictedShareIncentivePlan	0	9,769,600	0	0	13.29	9,769,600	0

3.Fulfillmentofappraisalindicatorsforequityincentivesandconfirmedshare-basedpaymentsduringtheReportingPeriod

√Applicable□Notapplicable

Unit:RMB

Equityincentiveplan	FulfillmentofcompanyappraisalindicatorsduringtheReportingPeriod	Confirmedshare-basedpaymentsduringtheReportingPeriod
2018equityincentives	Notapplicable	1,516,519.14
2021RestrictedShareIncentivePlan	Expectedlyunfulfilled	0
2024RestrictedShareIncentivePlan	Expectedlyfulfillable	13,321,278.21
2024EmployeeStockOwnershipPlan	Expectedlyfulfillable	823,138.71
Total	/	15,660,936.06

/

ii.Relevantincentivemattersdisclosedincurrentannouncementwithnosubsequentprogressorchange

√Applicable□Notapplicable

Overview	Indextothedisclosedinformation
OnApril24,2024,theProposalonCancellingCertainRestrictedSharesGrantedbutNotYetVestedunderthe2020RestrictedShareIncentivePlanandtheProposalonCancellingCertainRestrictedSharesGrantedbutNotYetVestedunderthe2021RestrictedShareIncentivePlanwerereviewedandapprovedatthe10thMeetingoftheFourthBoardofDirectorsandtheSixthMeetingoftheFourthSupervisoryCommittee.	Forfurtherinformation,pleaserefertoAnnouncementsNo.2024-041and2024-042
OnOctober21,2024,theProposalonGrantingRestrictedSharestoAwardeesofthe2024RestrictedShareIncentivePlanwasreviewedandapprovedatthe15thMeetingoftheFourthBoardofDirectorsandtheNinthMeetingoftheFourthSupervisoryCommittee.Assuch,9.7696millionrestrictedsharesweregrantedto229awardeesatapriceofRMB13.29pershareonOctober21,2024.	Forfurtherinformation,pleaserefertoAnnouncementNo.2024-090

Otherinformation:

√Applicable□NotapplicableIntheAutel2021RestrictedShareIncentivePlan,theCompany’sfinancialperformanceindicatorswouldbeappraisedannuallyinthethreeaccountingyearsfrom2022to2024.AccordingtotherelevantdataintheCompany’s2024AnnualReport,iftheperformanceindicatorsareunmetinthethirdvestingperiodoftheincentiveplan,alltherestrictedsharestobevestedintheawardeesintheyearofappraisalshouldbefullyorpartiallycancelledandinvalidated.Employeestockownershipplans:

√Applicable□NotapplicableTheProposalonthe2024EmployeeStockOwnershipPlan(Draft)anditsSummaryandotherrelatedproposalswerereviewedandapprovedatthe14

th

MeetingoftheFourthBoardofDirectorsandtheEighthMeetingoftheFourthSupervisoryCommitteedatedSeptember28,2024andtheThirdExtraordinaryGeneralMeetingofShareholdersin2024datedOctober15,2024.Forfurtherinformation,pleaserefertotheannouncementsthathavebeendisclosedbytheCompanyonthewebsiteoftheShanghaiStockExchange(www.sse.com.cn)datedSeptember30,2024andOctober16,2024,respectively.Otherincentivemeasures:

/

□Applicable√Notapplicableiii.Equityincentivesgrantedtodirectors,seniorexecutivesandkeytechnicalpersonnelduringtheReportingPeriod

1.Stockoptions

□Applicable√Notapplicable

2.ClassIrestrictedstock

□Applicable√Notapplicable

3.ClassIIrestrictedstock

√Applicable□Notapplicable

Unit:0,000shares

Name	Officetitle	Openingrestrictedsharesgranted	NewgrantduringtheReportingPeriod	Grantprice(RMB)	AvailableforvestingduringtheReportingPeriod	VestedduringtheReportingPeriod	Closingrestrictedsharesgranted	Closingmarketprice(RMB)
LiHongjing	ChairmanoftheBoardandGeneralManager	0	150.00	13.29	0	0	150.00	39.16
NongYingbin	DirectorandDeputyGeneralManager	0	50.00	13.29	0	0	50.00	39.16
DengRenxiang	Director,DeputyGeneralManagerandkeytechnicalpersonnel	0	15.00	13.29	0	0	15.00	39.16
YinHui	Directorandkeytechnicalpersonnel	0	12.00	13.29	0	0	12.00	39.16
LiXiongwei	BoardSecretary	0	31.50	13.29	0	0	31.50	39.16
LuoYonglian	Keytechnical	0	6.00	13.29	0	0	6.00	39.16

/

g	personnel
ZhanJinyong	Keytechnicalpersonnel	0	4.00	13.29	0	0	4.00	39.16
Total	/	0	268.50	/	0	0	268.50	/

iv.EstablishmentandformulationofappraisalandincentivemechanismsforseniorexecutivesduringtheReportingPeriod

√Applicable□Notapplicable

Autelhasstrengtheneditsvalueassessmentsystemwitharesults-orientedapproachtoresponsibility,encouragingallemployeestoremaincustomer-focusedandcreatecustomervalue.Throughmonthlyworkplans,performancemanagement,andsemi-annualandannualperformanceevaluations,Autelimplementsadiversifiedincentivesystem,includingbutnotlimitedtosalaryadjustments,preferentialbonusallocation,long-termincentives(equitydistribution),andcareeradvancement.XIVDevelopmentandimplementationofinternalcontrolsystemsduringtheReportingPeriod

√Applicable□Notapplicable

DuringtheReportingPeriod,AutelcontinuouslyoptimizeditsinternalcontrolsysteminaccordancewiththeBasicStandardsforEnterpriseInternalControlanditssupportingguidelines,expandingthecoverageandenforcementofinternalcontrolmeasures.AcomprehensiveinternalcontrolframeworkwasestablishedtoalignwithAutel'soperationalmanagementandsupporttheachievementofitsstrategicobjectives.Meanwhile,theAuditDepartmentstrengthenedsupervisionandevaluationeffortstoensureAutelcontinuouslyimprovesitsoverallcomplianceandstandardizedoperations.ExplanationofmaterialweaknessesininternalcontrolduringtheReportingPeriod:

□Applicable√NotapplicableXVManagementandcontroloversubsidiariesduringtheReportingPeriod

√Applicable□Notapplicable

DuringtheReportingPeriod,AutelstrictlyadheredtotheArticlesofAssociation,theRulesGoverningtheListingofStocksontheSTARMarketoftheShanghaiStockExchange,andotherrelevantregulationsinmanagingitssubsidiaries.Thisincluded

/

oversightofbusinessoperations,investmentdecisions,personnelandcompensationassessments,financialpolicies,informationdisclosure,andauditsupervision.Autelparticipatedinkeyoperationaldecision-makingmeetingsofitssubsidiariestoensuretimelyunderstandinganddecision-making.Additionally,theAuditDepartmentconductedregularoradhocauditsofsubsidiaries'financialandbusinessactivities,reinforcingtheestablishmentandeffectiveimplementationoftheirinternalcontrolsystems.XVIIndependentAuditor’sReportonInternalControl

√Applicable□Notapplicable

PleaserefertotheAutel2024InternalControlAssessmentReportthathasbeendisclosedbytheCompanyonthewebsiteoftheShanghaiStockExchange(www.sse.com.cn)onMarch29,2025.WhethertheIndependentAuditor’sReportonInternalControlisdisclosed:YesTypeoftheindependentauditor’sopinion:UnmodifiedunqualifiedopinionXVIIRemediationofproblemsidentifiedbyself-inspectioninthespecialactiononthegovernanceoftheCompanyNone.XVIIIOtherinformation

□Applicable√Notapplicable

/

PartVEnvironmental,SocialandOtherCorporateGovernance

Information

IBoardStatementonESGMattersAutelupholdsthebusinessphilosophyofValue-DrivenInnovationwithUnwaveringCommitment"andmaintainsopencommunicationandcooperativerelationshipswithstakeholders.Byidentifyingmaterialenvironmental,social,andgovernance(ESG)topicsbasedonstakeholderconcernsrelatedtoitscorebusiness,Autelclearlydefinesinternalresponsibilities,implementskeymanagementinitiatives,andstrivestoachievehigh-qualitydevelopmentthroughitspositiveimpactontheenvironmentandsociety.TheBoardofDirectorsisthehighestgoverninganddecision-makingbodyforESGmattersandassumesfullresponsibilityforAutel’sESGstrategyandreporting.ToeffectivelyfulfillitsESGmanagementandoversightresponsibilities,Autel’sStrategyCommitteeisspecificallytaskedwithimplementingtheBoard’sESGresolutions,assessingESGrisks,executingandadvancingESGinitiatives,andregularlyreportingprogresstotheBoard.IOverallESGachievements

√Applicable□Notapplicablei.Industry-specificESGpracticesinthecurrentyear

□Applicable√Notapplicableii.ESGratingperformanceforthecurrentyear

√Applicable□Notapplicable

ESGratingsystem	ESGratingagency	Autel’sratingforthecurrentyear
Wind	WindInformationTechnologyCo.,Ltd.	BBB
S&P	S&PGlobal	10+
QUANTDATA	BeijingQUANTDATATechnologyCo.,Ltd.	A
Harvest	HarvestYuanjianTechnology(Beijing)Co.,Ltd.	77.24

iii.TrackingofESG-themedindexfundsforthecurrentyear

□Applicable√Notapplicable

/

IIESGEnvironmentalOverview

HasAutelestablishedanenvironmentalprotectionmechanism	Yes
EnvironmentalprotectionexpenditureduringtheReportingPeriod(unit:RMB10,000)	51.29

i.IsAutelclassifiedasakeypollutantdischargeentitybytheenvironmentalprotectionauthorities?

□Yes√Noii.AdministrativepenaltiesrelatedtoenvironmentalissuesduringtheReportingPeriodNoneiii.Resourceconsumptionandemissionsinformation

□Applicable√NotApplicable

1.Greenhousegasemissions

√Applicable□NotApplicableOurgreenhousegasemissionsmainlycomefromfuelcombustionemissionsfromtransportationvehiclesrequiredforbusinessoperations,fugitiveemissionsfromemployeeactivities,purchasedelectricity,employeetravelactivities,andthetransportationofrawmaterialsandfinishedproducts.Toreducegreenhousegasemissions,Autelfocusesonscientificenergy-savingmeasures,productiontechnologyoptimizationandupgrades,aswellaslow-carbontravelandtransportationmethodstoreducethegreenhousegasemissionsperunitofproduct.Effortsaremadetominimizeenergyconsumptionandcarbondioxideemissions,increasetheproportionofrenewableenergyusage,andactivelypromotetheachievementofcarbonneutralitygoals.

In2024,Autelengagedaqualifiedthirdpartytoconductacomprehensivegreenhousegas(GHG)inventoryforAutelDigitalPowerCo.,Ltd.inaccordancewithISO14064standards.Thedetailsareasfollows:

Energyconsumptionandgreenhousegasemissions	Index	Unit	Consumption/Emissions
Greenhousegasemissions	Total	Metrictonsofcarbon	1,930.3

/

greenhousegases	dioxideequivalent
Category1	Metrictonsofcarbondioxideequivalent	258.8
Category2	Metrictonsofcarbondioxideequivalent	1,330.1
Category3	Metrictonsofcarbondioxideequivalent	238.3
Category4	Metrictonsofcarbondioxideequivalent	103.1

Note:TheinventoryperiodisfromSeptember1,2023toAugust31,2024.

2.Energyconsumption

√Applicable□NotApplicableOurenergyconsumptionprimarilyconsistsofelectricityandasmallamountofgasoline,withthemainenergyconsumptionsourcesbeingofficeelectricity,productionelectricity,andlightingelectricity.Autelhasimplementedclearenergy-savingmeasuresinbothofficeandproductionareas,suchaspromotingturningofflightswhennotinuse,controllingairconditioningtemperaturesettings,andinstallingLEDenergy-savinglightsuniformly.Reasonablelightingzonecontrolsareinplacetoensurethatenvironmentalairconditioningandlightingmeetrequirementswhileminimizingenergyconsumptionasmuchaspossible.

3.Wasteandpollutantemissions

√Applicable□NotApplicableAutelstrictlycomplieswiththeLawofthePeople'sRepublicofChinaonthePreventionandControlofWaterPollution,theLawofthePeople'sRepublicofChinaonthePreventionandControlofAirPollution,andtheLawofthePeople'sRepublicofChinaonthePreventionandControlofEnvironmentalPollutionbySolidWaste.Autelenforcesstrictpollutanttreatmentanddisposalmeasures,establishingmanagementguidelinesforwastewater,exhaustgas,boundarynoise,andsolidwastegeneratedduringproductionandoperations.Theseeffortsensuretheproperoperationofenvironmentalprotectionfacilities,compliancewithemissionstandardsforwastewaterandexhaustgas,effectivecontrolofboundarynoise,andregulateddisposalofsolidwaste.

Tomanagepollutantseffectively,AuteladherestotheEnvironmentalFactorIdentificationandEvaluationsProceduresandproactivelyimplementsequipmentoptimization,processupgrades,andinfrastructureimprovementsbasedonitsoperational

/

conditions.Additionally,Autelengagesqualifiedthirdpartiesforrelevantmonitoringandmanagement.In2024,noenvironmentalpollutionincidentsoccurred.Autel'sprimarypollutanttreatmentmeasuresareasfollows:

Typeofwaste	Specificclassification	Treatmentmethod
Wastewater	Includesdomesticsewage,dischargefromconstanttemperatureandhumiditymachines,waterprooftestingmachines,aircompressors,saltspraytesting,wastecleaningfluids,andwasteoil.	Autelcollectswastewaterinappropriatecontainers,labelsthemwitha"WasteRecyclingLabel,"andtemporarilystoresthemunderdesignatedpersonnel.Onceaccumulatedtoacertainquantity,Autelarrangesforcollectionandtreatmentbyexternalwastedisposalstationsorotherqualifiedlegalentities.Ifwastecleaningfluidsorwasteoilcanberecycledbysuppliers,theyarelegallyreclaimedbythesuppliers.
Exhaustgas	Includesvolatileemissionsfromcleaningfluids,petroleumether,alcohol,boardwashingfluids,aswellasfumesgeneratedfromsolderingandadhesivedispensing.	Autelinstallsaircollectionhoodsatworkstationstocaptureexhaustgases,whicharethendirectedthroughpipelinestotherooftopforemission.Iftheexhaustgascontainsnon-methanetotalhydrocarbons,itundergoesactivatedcarbonadsorptionbeforebeingreleased.Additionally,afteroperations,containersarepromptlysealed,andtemperaturecontrolismaintainedduringcleaningtominimizeliquidevaporation.
Solidwaste	Includesmetal,paper,fabric,plastic,andothertypesofwaste.	Auteldesignatesspecificstorageareasfordifferenttypesofsolidwasteandappliesclearidentificationlabels.Eachdepartmentsortsandstoresitssolidwasteaccordingly.Oncethestoredquantityreachesacertainlevel,Autelarrangesforcollectionandrecyclingbyqualifiedcontractors.Ifthesolidwasteconsistsofoil-contaminatedfabricmaterials,itistreatedfollowingthewastewaterdisposalmethod.

4.Environmentalmanagementsystemandpolicies

√Applicable□NotApplicableAutelprioritizesenvironmentalmanagementandprotection,strictlycomplyingwiththeLawofthePeople'sRepublicofChinaonEnvironmentalProtection,theLawofthePeople'sRepublicofChinaonEnvironmentalImpactAssessment,andotherrelevantlawsandregulations.IthasestablishedacomprehensiveenvironmentalmanagementsystemandhasbeencertifiedunderISO14001:2015.AutelhasformulatedpoliciessuchastheEnvironmentalFactorIdentificationandEvaluationsProceduresandtheEmergencyPreparednessandResponseControlProcedurestoidentifyandassessenvironmentalimpactsarisingfromitsproductionandservices,ensuringeffectivecontrolofenvironmentalfactorsandminimizingitsenvironmentalfootprint.iv.Measurestakentoreducecarbonemissionsandtheireffectiveness

HasAutelimplementedcarbonreductionmeasures	Yes
ReductioninCO?emissions(Unit:Tons)	/
Typesofcarbonreductionmeasures(e.g.,Useofcleanenergyforpowergeneration,adoptionofcarbonreduction	Developmentandproductionoflow-carbonproducts

/

DetailedExplanation

□Applicable√NotApplicablev.Newtechnologies,products,andservicesforcarbonreduction

√Applicable□NotApplicable

Autelattachesgreatimportancetoenvironmentalprotectionandsustainabledevelopment,incorporatingenergyconservationandcarbonreductionintoitskeyagenda.DuringtheReportingPeriod,Autel’sdigitalandintelligentpowersolutionsfocusedonfourcorechargingscenarios:in-transit,destination,fleet,andresidentialarea.Autelacceleratedthedevelopmentandapplicationofitsfull-scenariointelligentchargingnetworksolutions,whichintegratescloud-edgetechnology,aswellasitsintegratedPV&ESSmanagementsolutions,contributingtoenergyconservationandcarbonemissionsreduction.vi.Informationrelatedtoecologicalprotection,pollutionprevention,andenvironmentalresponsibility

√Applicable□NotApplicable

Autelplacessignificantemphasisoncirculareconomypracticesandthepracticalimplementationofsustainabledevelopment.In2024,Autelinitiatedthe"Evergreen"globalESGtree-plantingcampaign,collaboratingwithsixmajorregionalnonprofitorganizationsworldwide.Thisinitiativesupportedover20strategicclientsinstrengtheningtheirglobalgreenbrandimage,showcasingAutel'sresponsibilityandinfluenceasanindustryleader.

Fromabusinessoperationsperspective,AutelTechnologyhasadoptedasustainableoperationsmanagementmodelatitsmanufacturingfacilitiesintheUnitedStates,Vietnam,andChina.Thesefacilitiesoperatewithoutadditionalairpurification,wastewatertreatment,ornoisecontrolsystems,whileproductpackagingincorporatesrecyclablematerials,ensuringthatproductlifespansexceedtenyears.vii.Measurestakentoaddressglobalclimatechangeandtheireffectiveness

√Applicable□NotApplicable

/

Autelrecognizestheimpactofclimatechangeonitsoperations.DuringtheReportingPeriod,itconducteddisclosuresinaccordancewiththerecommendationsoftheTaskForceonClimate-RelatedFinancialDisclosures(TCFD).TheBoardofDirectorsandtheStrategyCommitteeactivelyengagedinpreparatoryworktoensurestrictcompliancewiththeTCFDframework,includingestablishingaclimateriskmanagementsystemandresearchingandstudyingscenarioanalysismethodologies.IIISocialResponsibilityInitiativesi.ContributionofcorebusinesstosocietyandindustrykeymetricsFordetails,pleaserefertoSectionIII:ManagementDiscussionandAnalysis/I.DiscussionandAnalysisofBusinessOperationsinthisreport.ii.Promotionoftechnologicalinnovation

Autelregardstechnologicalinnovationasthecoredriverbehinditsdevelopmentandhasimplementedaseriesofeffectivemeasurestoadvanceinnovation.IntermsofR&Dinvestment,Autelcontinuouslyincreasesfinancialsupport,allocatingsubstantialresourcesannuallyfortheresearchanddevelopmentofnewproductsandtechnologies.ThisensuresthatR&Dfundingremainssufficient,stable,andsustainable,providingastrongfoundationforinnovationactivities.Intalentdevelopment,Autelactivelyattractshigh-leveltechnicalprofessionals,buildsadiversetalentteam,andoffersextensivetrainingandlearningopportunitiesforinternalemployees,encouragingcontinuousimprovementintechnicalexpertise.Inintellectualpropertyprotection,Autelhasestablishedacomprehensiveintellectualpropertymanagementsystem,strengthenedpatentapplicationsandtrademarkregistrations,andensuredtheeffectiveprotectionofitsinnovativeachievements.Throughtheseefforts,AutelTechnologycontinuouslyenhancesitstechnologicalinnovationcapabilitiesandmaintainsaleadingpositionintheindustry.iii.Compliancewithtechnologyethics

WiththeincreasingaccessibilityofAIandmodelapplications,Autelcontinuestostrengthenitsawarenessofcompliancemanagementregardingtechnologyethicsandalgorithmapplications.Autelremainscommittedtocomplianceandclearethicalprinciples

/

initsuseofalgorithmsandapplications,ensuringsecurity,respectingconsumerrights,andprioritizingsafety.iv.Datasecurityandprivacyprotection

Autelplacesgreatimportanceoninformationsecurityanddataprivacyprotection,maintainingacomprehensiveinformationsecuritymanagementsystem.Bystrictlyrestrictingunauthorizedaccess,establishingclearemergencyresponseprocedures,andimplementingincidentreportingandhandlingmechanisms,Autelminimizestheimpactofsecurityincidents.Additionally,itsITanddatamanagementteamspossessprofessionalexpertiseininformationsecuritymanagement,ensuringdatasecurity,confidentiality,andintegritywhilemaintainingthestableoperationofinformationsystems.

1.Cybersecuritymanagementsystemandcertifications

Toensureinformationanddatasecurity,Autelhasformulatedseveralpolicies,includingtheInformationSystemManagementRules,theConfidentialInformationManagementMeasures,theElectronicDocumentDeclassificationManagementRules,andtheAccountPasswordManagementStandards.Ithasalsoestablishedadisasterrecoveryemergencyplanforinformationsystemsandconductsregulardatasecuritydrills.AutelemploysmultiplesecuritymeasuressuchasVPNs,firewalls,encryptiontechnology,andaccesscontroltoenhancedatasecuritymanagementacrossofficeandprojectserviceareas,ensuringbusinesssecuritythroughtechnologicalandsystemicsafeguards.

Additionally,AutelhasobtainedISO27001InformationSecurityManagementSystemcertification.IndependentexternalauditsareconductedannuallytoassessandensuretheeffectivenessofAutel'sdatasecuritypoliciesandsystems.Autelalsoregularlyinvitesindustryexpertsandinternaltechnicalspecialiststoconducttargetedtrainingondataandinformationsecurity,integratingsecurityconceptsintoitsbusinessmanagementframework.OnlinetrainingandexaminationsareincorporatedintoKPImanagementtoreinforcethesepractices.

2.Dataprivacyandsecuritymanagement

Toensurecompliancewithpersonaldataprotectionregulationsinmultiplecountriesandregions,AutelhasestablishedandcontinuouslyimproveditsPrivacyInformationManagementSystem(PIMS).IthasformedaPrivacyManagementCommitteeandanISO27701PIMScertificationprojectteamwhileimplementingadedicatedemergencyresponseplanfordatabreachestocomprehensivelysafeguarddataprivacy.

/

AsAutelexpandsitsinternationalandintelligentbusinessoperations,thenumberofsensitivedataprivacyscenarioscontinuestogrow.Toaddressthis,Autelhasdevelopedadedicatedprivacysecuritymanagementsystemandestablishedaspecializedteamwithstrongriskidentificationandbusinessmanagementcapabilities.Leveragingitsexpertiseincloudservicesandrigoroussecuritymanagement,AutelhassuccessfullyobtainedISO/IEC27018andCSA-STARcertifications—twointernationallyrecognizedstandardsforcloudservicesecurity—duringtheReportingPeriod.v.Typesandcontributionsofpublicwelfareandcharityactivities

Category	Amount	Description
Externaldonations
Ofwhich:Funds(RMB10,000)	-	/
Goodsequivalent(RMB10,000)	-	/
Publicwelfareprojects
Ofwhich:Funds(RMB10,000)	35.40	/
Beneficiaries(persons)	-	/
Ruralrevitalization
Ofwhich:Funds(RMB10,000)	-	/
Goodsequivalent(RMB10,000)	-	/
Employmentsupport(persons)	-	/

1.Publicwelfareandcharityactivities

√Applicable□NotApplicable

Autelhascarriedoutaseriesofpublicwelfareandcharityinitiativesforconsecutiveyears,notonlycreatingsocialvaluebutalsodemonstratingitscommitmenttopositivecorporatevalues.Additionally,Autelactivelyencouragesemployeestoparticipateinvolunteeractivities,fosteringacultureofcompassionandsocialresponsibility.

In2024,atotalof120employeeparticipationswererecordedinpublicwelfareandvolunteeractivities,withanaggregatevolunteerservicedurationof35hours.

Autellaunchedthe"Evergreen"GlobalTreePlantingInitiativein2024,implementingprojectsinmultiplecountriesandregions,includingtheNetherlands,Malaysia,theUAE,Mexico,andZhangyeCityinGansuProvince,China.Collaboratingwithlocalpartnersandenvironmentalorganizations,theinitiativereflectsAutel'ssteadfastcommitmenttoESGprinciplesanditsongoingeffortstobuildasustainablefuture.

2.Consolidationandexpansionofpovertyalleviationandruralrevitalizationefforts

/

√Applicable□NotApplicable

Povertyalleviationandruralrevitalizationprogram	Quantity/content	Description
Totalinput(RMB’0,000)	-
Ofwhich:Funds(RMB’0,000)	-
Supplies(RMB’0,000)	-
Numberofpeoplebenefiting	160
Wayofsupport(supportingindustrialdevelopment,creatingjobopportunities,supportingeducation,etc.)	Povertyalleviationbysupportingeducation

Detailedexplanation:

√Applicable□NotApplicableWehavejoinedhandswithBeijingQingXiYuanShanCharityFoundationtocarryoutthe“ScienceClassforRuralStudents”program,providingaone-yearscienceextensioncourseandcoursematerialpackagesforfifth-gradestudentsinLicunCentralPrimarySchoolandShisiTownCentralPrimarySchoolinXin'anCounty,HenanProvince.Bydoingso,weaimtohelpruralstudentsdevelopscientificliteracy,inspiretheirenthusiasmforexploringscienceandtechnology,andcontributetothecultivationoffuturetalent.Meanwhile,weenhancethecapabilitiesofruralteachers,therebyimprovingthequalityofscienceeducationintheruralarea.vi.Protectionofshareholders’andcreditors’rights

1.ImprovingcorporategovernancestructureandstrengtheningshareholderprotectionAutelstrictlyadherestotheCompanyLawofthePeople'sRepublicofChina,theSecuritiesLawofthePeople'sRepublicofChina,theCodeofCorporateGovernanceforListedCompanies,andtheRulesGoverningtheListingofStocksontheSTARMarketoftheShanghaiStockExchange,aswellasrelevantregulatorydocumentsandtheArticlesofAssociationofShenzhenAutelTechnologyCo.,Ltd..AutelhasestablishedacorporategovernanceframeworkcomprisingtheGeneralMeetingofShareholders,theBoardofDirectors,theBoardofSupervisors,andtheexecutivemanagementteam,formingagovernancemechanismwithclearrolesandresponsibilities,standardizedoperations,andeffectivechecksandbalances.DuringtheReportingPeriod,Autelcontinuedtoenhanceinformationdisclosurestandards,strengthenedtheregistrationandmanagementofinsiderswithaccesstonon-publicinformation,andimprovedinvestorrelationsmanagement.These

/

effortshavefurtherenhancedcorporategovernancestandardsandeffectivelysafeguardedtherightsandinterestsofallinvestors,particularlyminorityshareholders.

2.Establishingandimprovinginternalcontrolsystemstomitigateoperationalrisks

AutelhasdevelopedandcontinuouslyimproveditsinternalcontrolmeasuresinaccordancewiththeCompanyLawofthePeople'sRepublicofChina,theSecuritiesLawofthePeople'sRepublicofChina,theBasicStandardsforEnterpriseInternalControlanditssupportingguidelines,theGuidelinesforInternalControlofListedCompanies,andotherregulatoryrequirements.Thesemeasuresaimtomanageandmitigaterisksassociatedwithbusinessoperations.DuringtheReportingPeriod,inresponsetochangesininternalandexternalbusinessenvironmentsandcorporateexpansion,Auteleffectivelyimplementeditsinternalcontrolsystem,strengthenedriskmanagementawarenessatalllevels,andensuredreasonableriskcontrol.Thesemeasureshavehelpedmaintainregulatorycompliance,safeguardcorporateassets,ensuretheaccuracyandcompletenessoffinancialreportingandinformationdisclosure,enhanceoperationalefficiency,andsupportAutel’sstrategicdevelopmentgoals.

3.Fulfillinginformationdisclosureobligations,ensuringequaltreatmentofallinvestorsandsafeguardingshareholders'righttoknow

AutelstrictlycomplieswiththeRulesGoverningtheListingofStocksontheSTARMarketoftheShanghaiStockExchangeandtheMemorandumonInformationDisclosureforSTARMarketListedCompanies,amongotherregulationsandregulatoryguidelines.Auteldiligentlyfulfillsitsinformationdisclosureobligations,ensuringthatdisclosedinformationistruthful,accurate,complete,timely,andfair.Furthermore,Auteliscommittedtoprofessionalizingandinstitutionalizinginformationdisclosurepractices.Itstrictlyenforcestheregistrationsystemforinsidersandexternalinformationusers,standardizesinternalreporting,transmission,andconfidentialityprocedures,andensuresthesecurityofconfidentialcorporateinformation.Thesemeasuresfullyrespectandprotectthelegitimaterightsandinterestsofallshareholders,particularlyminorityshareholders.

4.Fulfillingcashdividendcommitmentstoprotectshareholderreturns

Auteliscommittedtoprovidingstablecashdividendstoshareholders,prioritizingtheprotectionandrealizationofshareholdervalueasacoreprincipleofitsbusinessoperations.Autelhasestablishedastableprofitdistributionpolicy,whichisexplicitlyoutlinedintheArticlesofAssociationofShenzhenAutelTechnologyCo.,Ltd.,effectivelysafeguarding

/

shareholders'interests.DuringtheReportingPeriod,Autelsuccessfullyimplementedits2023annualand2024interimprofitdistributionplans,distributingatotalofRMB353millionincashdividendstoshareholders.Additionally,Autelrepurchased7,665,527sharesthroughacentralizedbiddingtransaction,representing1.70%ofitstotalsharecapitalasofDecember31,2024,withatotalrepurchasepaymentofRMB147million.vii.Protectionofemployeerightsandinterests

1.EqualanddiverseemploymentstrategyAuteladherestotheprinciplesoffairness,openness,andimpartialityinemploymentandhasestablishedregulationssuchastheEmploymentControlProcedurestodevelopascientific,standardized,andtransparentrecruitmentprocess.Thissystemensuresthetimelyandeffectiverecruitment,selection,andhiringofdiversetalent.Autelfocusesoncandidates'abilities,experience,softskills,andpotential,activelystrengtheningtherecruitmentofbothdomesticandinternationaltalenttobuildahigh-qualityworkforcethatmeetsAutel’stalentdevelopmentneeds.

Toreinforcehumanrightsprotection,AutelhasimplementedpoliciessuchastheLaborandHumanRightsPolicy,theProhibitionofForcedLaborManagementProcedures,theProhibitionofSlaveryandHumanTraffickingManagementProcedures,andtheProhibitionandRemediationofChildLaborMisuseManagementProcedures,aswellastheAnti-DiscriminationManagementProcedures.Thesepoliciesoutlinedetailedmeasurestopreventviolationsandstrictlymitigaterisksofillegalemployment.

2.Comprehensiveremuneration,benefits,andemployeecare

Auteliscommittedtocreatingafairandcompetitiveworkenvironment,upholdingthetalentstrategyof"BeingPeople-Oriented,Sharing,andGrowingTogether",andensuringemployeesshareinAutel’sdevelopmentachievements.Throughcompetitivesalaries,adiverserangeofbenefits,andemployeeequityincentives,Autelpromotesasharedsuccessmodelthatalignsemployeeinterestswithcorporategrowth.

Toensureeffectivemanagementandfairdistributionofemployeebenefits,AutelTechnologyhasestablishedacomprehensivebenefitsmanagementsystem.Autelfullycomplieswithlegalrequirementsbyprovidingemployeeswithsixstatutorybenefits—basicold-ageinsurance,basicmedicalinsurance,unemploymentinsurance,workinjuryinsurance,maternityinsurance,andthehousingprovidentfund.Inadditiontothese

/

corebenefits,Auteloffersadditionalperks,includingsubsidizedmeals,freeafternoontea,freelate-nightsnacks,transportationallowances,festivalallowances,birthdaygifts,newborngiftallowances,illnessrelieffunds,andannualhealthcheck-ups.Theseinitiativesallowemployeestofullyenjoythebenefitsofcorporategrowth,enhanceworkplacemotivation,andstrengthenorganizationalcohesion.

3.ContinuousemployeetraininganddevelopmentAutelregardshumanresourcesasitsmostvaluableassetandhasestablishedacomprehensiveemployeeeducationandtrainingmanagementsystem.Thissystemprovidesongoing,targetedtrainingprogramsaimedatcontinuouslyimprovingemployeecompetenceatalllevels.Auteltailorstrainingtodifferentjobrolesandorganizationallevels,integratinginternalandexternaltrainingresources.Trainingisdeliveredthroughacombinationoflectures,hands-onpractice,andcasestudies,ensuringemployeesreceiverole-specifictraininginareassuchasonboarding,professionalskills,andmanagementdevelopment.

4.StructuredemployeeevaluationandpromotionsystemWehavedevelopedawell-structuredcareerdevelopmentpathwayandformulatedourManagementStrategyforthePositionandRankSystem,implementinga"dual-track"promotionrouteformanagementandtechnicalprofessionalpositions.Weupholdtransparencyininternaljobvacanciesandrespectemployees’careertransitionpreferences,providingastructuredpromotionsystemthatemphasizespotentialdevelopmentasakeyassessmentcriterion.Supervisorsaresupportedwithevaluationtoolsandguidancemanualstofacilitateaccuratepromotionassessments.Autelhascomprehensivelyupgradeditsleadershipframework,establishingastructuredpartnerdevelopmentmechanismtoenhanceleadershiptransformationanddevelopment.Arefinedpartnerroleprofileimprovestalentselectionaccuracyandstrengthensstrategicthinking,innovation,andteamleadershipcapabilities,treatingpartnersasourlocomotive.Tofurtherboostmotivation,Autelhasintroducedanincentive-sharingmechanism.Additionally,ithasoptimizedafull-cycleselection,development,utilization,andretentionsystem,creatingastructuredleadershipevaluationanddevelopmentframework.Thesemeasurescontinuouslyreinforceinnovation,culturalengagement,andteamworkamongmanagementpersonnel,providingastrongdrivingforceforAutel’sgrowth.

5.Openemployeecommunicationandgrievancemechanisms

/

AutelvaluesemployeefeedbackandrightsprotectionandhasestablishedtheEmployeeComplaintsandAppealsManagementProcedures.Multiplecommunicationchannels,includingemployeesatisfactionsurveys,suggestionboxes,andWeChatmini-programs,havebeenimplementedtofosteranopenandtransparentcommunicationenvironment.Autelrespectsemployees'rightstocollectivebargainingandpeacefulassembly,holdingmonthlydemocraticmeetingstoreportbusinessoperationsandinviteemployeestoparticipateindiscussionsonworkingconditionsandlaborbenefits.EmployeeStockOwnership

Numberofemployeesholdingshares	180
Proportionofemployeesholdingsharesintotalworkforce(%)	6.56
Totalemployee-heldshares(10,000shares)	17,221.67
Proportionofemployee-heldsharesintotalsharecapital(%)	38.11

Note:1.TheproportionofemployeesholdingsharesinthetotalworkforceisbasedonthenumberofemployeeshareholdersasapercentageofthetotalnumberofemployeesattheendoftheReportingPeriod.2.Theaboveemployeestockownershipdataincludedirectshareholdingbydirectors,supervisors,seniormanagement,andkeytechnicalpersonnelwhoareCompanyemployees,aswellassharesvestedunderpreviousrestrictedstockincentiveplans.Itdoesnotincludesharespurchasedbyotheremployeesonthesecondarymarket.viii.Protectionofsupplier,customer,andconsumerrights

1.Responsiblesupplychain

Auteliscommittedtobuildingasustainablesupplychainthatnotonlyensuresprocurementneedsandtimelyfulfillmentofagreementsbutalsoactivelypromotessuppliers'sustainabilityperformance.Autelimplementsfull-processmanagementacrosssupplieradmission,procurement,evaluation,andcapabilitydevelopment,incorporatingESGriskconsiderationsintosupplierassessments.

2.Comprehensivequalitymanagementmechanismandstandardssystem

AutelstrictlycomplieswiththeProductQualityLawofthePeople'sRepublicofChina,theStandardizationLawofthePeople'sRepublicofChina,andrelevantdomesticandinternationalproductqualityandsafetyregulations.Ithasformulatedandimplementedaseriesofpolicies,includingtheQualityManual,theInspectionControlProcedures,the

/

ProductionProcessControlProcedures,andtheNon-ConformingProductControlProcedures.Thesepoliciescoverqualitysafety,qualityobjectives,qualityaudits,andcontinuousimprovement.DuringtheReportingPeriod,Autelobtainedmultiplecertificationsrelatedtoquality,environment,andsafety,includingISO9001,ISO14001,ISO45001,ISO27001,andISO27701.Noproductqualityorsafetyviolationsoccurredduringtheperiod.

3.EnhancingcustomerserviceAuteladherestotheconceptof"ProvidingCustomerswithGenuineandLastingValue"andiscommittedtodeliveringaprofessional,timely,andcustomer-centricserviceexperiencewhilecontinuouslyimprovingcustomersatisfaction.Toprovidehigh-standardservice,Autelhasestablishedacross-functional,localizedcustomerserviceteamwithdedicatedcoordinationchannelstoofferpromptsupportandcreateaseamlesscustomerexperience.Additionally,Autelimplementsstringentmeasurestoprotectcustomerinformation,fosteringlong-termpartnershipsbuiltontrustandreliability.ix.Productsafetyassurance

Autelupholdsthesafetymanagementphilosophyof"People-Oriented,SafeDevelopment"andfollowsthepolicyof"SafetyFirst,PreventionPrioritized,andComprehensiveManagement."Toensureworkplacesafetyandproductsecurity,AutelhasformulatedpoliciessuchastheOccupationalHealthandSafetyManagementProcedures,theControlProceduresforEHSMonitoringandMeasurement,theControlProceduresforEmergencyPreparednessandResponse,andtheHazardousChemicalControlProcedures.Autelhasestablishedasafetywarningmechanismandemergencyresponsesystemwhileconsistentlyconductingsafetyinspections,firedrills,andoccupationalhealthandsafetytrainingtoachieveitssafetymanagementobjectives.x.Intellectualpropertyprotection

AutelstrictlycomplieswiththeCivilCodeofthePeople'sRepublicofChina,theTrademarkLawofthePeople'sRepublicofChina,andthePatentLawofthePeople'sRepublicofChina,firmlyopposingunfaircompetitionpracticessuchascommercialdefamationandconfusioninthemarketplace,therebyfosteringafairmarketenvironment.InaccordancewiththeRegulationsonComputerSoftwareProtectionofthePeople's

/

RepublicofChina,Autelensuresthecomprehensiveprotectionofitsself-developedsoftware,supportingthehealthydevelopmentofthesoftwareindustry.Topreventintellectualpropertyinfringement,AutelhasestablishedanIntellectualPropertyOfficeunderitsLegalandIntellectualPropertyDepartment.IthasalsoformulatedpoliciessuchasthePatentRewardManagementMeasurestostandardizethefull-processmanagementofintellectualpropertycreation,administration,utilization,andprotection,furtherenhancingprojectintellectualpropertyandpatentapplicationmanagement.xi.Otheraspectsofcorporatesocialresponsibility

√Applicable□NotApplicableAsacorporatecitizen,Autelplacesgreatimportanceonfulfillingitssocialresponsibilitiesandalignscorporatedevelopmentwithsocietalprogress,ensuringabalancebetweencorporateandsocialbenefits,aswellasshort-termandlong-terminterests.Auteloperateswithintegrity,complieswithtaxregulations,andvaluesitsrelationshipswithsocietyandlocalcommunities.Guidedbyacommitmenttoservingandgivingbacktosociety,Autelactivelycontributestosocialharmonyanddevelopment.

Autelmaintainsastrongcommitmenttoethicalbusinesspracticesandtaxcompliance.Inresponsetoadynamicmarketenvironment,AutelcontinuouslyadjustsitsbusinessstrategiesundertheleadershipoftheBoardofDirectorsandmanagementteam,demonstratingresilienceandmaintainingoperationalstability.Whilepursuingeconomicbenefits,Autelremainssteadfastinlegalcomplianceandresponsibletaxcontributions.

Povertyalleviationisanintegralpartofcorporatesocialresponsibility.Auteldiligentlyimplementsnationalpovertyalleviationpoliciesandmaintainsastrongsenseofsocialmissionandresponsibility.Autelactivelygivesbacktosocietythroughcharitabledonations,employeeparticipationincommunityvolunteeractivities,andotherpublicwelfareinitiatives,fulfillingitscorporatesocialresponsibilitiesthroughconcreteactions.IV.OtherCorporateGovernanceMattersi.Partybuilding

√Applicable□NotApplicable

AutelhasestablishedaPartybranch,with48officialPartymembersasoftheendoftheReportingPeriod.Sinceitsinception,thePartybranchhasoperatedundertheleadershipofhigher-levelPartycommittees,guidedbyXiJinpingThoughtonSocialism

/

withChineseCharacteristicsforaNewEra.AutelremainscommittedtoimplementingtheParty’sleadershiproleandintegratingParty-buildingeffortsintocorporategovernancebyearnestlyadheringtodirectivesandpoliciesissuedbyhigher-levelPartyorganizations.ii.Investorrelationsandprotection

Category	Frequency	Details
Earningspresentations	4	HeldfourearningspresentationsattheShanghaiStockExchangeRoadshowCenter
Investorrelationsactivitiesvianewmedia	Ongoing	EngagedwithinvestorsviaAutel'swebsite,WeChatofficialaccount,andotherplatforms
Investorrelationssectiononofficialwebsite	√Yes□No

ImplementationofInvestorRelationsandProtectionMeasures

√Applicable□NotApplicableAutelplacesgreatimportanceoninvestorrelationsmanagementandactivelystrengthenscommunicationwithinvestorstosafeguardtheirrights,particularlythoseofminorityshareholders.IncompliancewiththeCompanyLawofthePeople'sRepublicofChina,theSecuritiesLawofthePeople'sRepublicofChina,theRulesGoverningtheListingofStocksontheSTARMarketoftheShanghaiStockExchange,andotherrelevantlaws,regulations,andtheArticlesofAssociation,AutelhasformulatedandimplementedanInvestorRelationsManagementRulestailoredtoitsspecificoperationalneeds.

In2024,AutelhostedfourearningspresentationsattheShanghaiStockExchangeRoadshowCenter,conducted22in-depthinvestormeetingsviateleconference,andwelcomed19investorsitevisits.Additionally,twoinvestorconferenceswereheld,and25InvestorRelationsActivityRecordSheetswerereleased.Autelalsorespondedto103investorinquiriesviatheSSEe-Interactionplatform.Throughthesemulti-channelengagementefforts,Auteleffectivelycommunicateditsinvestmentvalue,furtherstrengtheninginvestorconfidenceandrecognition.Additionally,Autelremainscommittedtoenhancingitsbrandpresenceincapitalmarkets.DuringtheReportingPeriod,Autelreceivedseveralprestigiousindustryawards,including:"2023GoldenBullAwardforHigh-potentialEmergingEnterprises"byChinaSecuritiesJournal,"2024MostValuableInvestmentAward"byCLS,"2024GoldenGreatWallCasesofNewQualityProductivityandHighGrowth"by21stCenturyBusinessHerald,"14thChinaListedCompaniesReputationRanking-MostSociallyResponsibleListedCompany"byNationalBusiness

/

Daily,and"BestCapitalOperations"inthe2024ListedCompaniesRankingsinAnnualInvestorRelationsDataby"COMEINFINANCE".Theseaccoladesreflectthemarket’shighrecognitionofAutel’stechnologicalinnovation,investmentvalue,andsocialresponsibility.OtherFormsofInvestorCommunication

□Applicable√NotApplicableiii.Transparencyofinformationdisclosure

√Applicable□NotApplicable

In2024,Autelimplementedmultidimensionalmeasurestoenhancetransparencyininformationdisclosure,facilitatingefficientcommunicationwithinvestorsandthemarket.Intermsofdisclosurecontent,Autelprovidedin-depthanalysesofindustrytrendsinperiodicreportsandrelevantinterimannouncements,offeringdetailedinsightsintobusinessstrategies,operationaldata,andshort-termandlong-termstrategicgoals.TheseeffortsenableinvestorstogainacomprehensiveunderstandingofAutel’sdevelopmenttrajectory.Regardingpresentationformats,inadditiontotraditionalannouncements,Autelintroducedvisuallysummarizedreports,suchas“One-PageSummaries”ofperiodicreports,whichintuitivelyshowcaseoperationaldataanddevelopmentmilestones.Intermsofcommunicationmechanisms,Autelheldmultipleinvestormeetingsandearningspresentations,allowingdirectengagementbetweenmanagementandinvestors,ensuringefficientbidirectionalinformationflow.iv.Participationofinstitutionalinvestorsincorporategovernance

□Applicable√NotApplicablev.Anti-briberyandanti-corruptionmechanisms

√Applicable□NotApplicable

Auteliscommittedtointegrityinbusinesspracticesandhasestablishedarobustanti-fraudmechanism.ThisframeworkisstructuredwithoversightfromtheBoardofDirectors,leadershipfromtheBoardAuditCommittee,supervisionbytheAuditDepartment,andaccountabilityenforcedbymanagement.Themechanismisimplementedwiththecooperationofalldepartments,branches,andsubsidiaries.Additionally,Autel

/

conductsregularintegrityandanti-briberytrainingsessionsfornewemployeesandthoseinkeypositions.Seniormanagementandkeypersonnelarerequiredtoundergomandatorytrainingonethicalbusinessconduct.In2024,Autelprovidedtargetedintegritytrainingtorelevantemployees,coveringtopicssuchascorporatelegalcomplianceandanti-corruptionframeworks.Atotalof484employeesparticipatedinthetraining,achieving100%coverageofseniormanagementandkeypersonnel.vi.Othercorporategovernancematters

□Applicable√NotApplicable

/

PartVISignificantEvents

IFulfilmentofCommitments(I)CommitmentsMadebytheActualController,Shareholders,RelatedParties,Acquirers,andtheCompanyDuringorContinuingintotheReportingPeriod

√Applicable□NotApplicable

Commitmentbackground	Commitmenttype	Commitmentparty	Commitmentdetails	Commitmentdate	Isthereaperformanceperiod?	Commitmentperiod	Hasitbeentimelyandstrictlyfulfilled?	Ifnottimelyfulfilled,explainthespecificreasons	Ifnottimelyfulfilled,explainthenextsteps
Commitmentrelatedtoinitialpublicoffering	Sharelock-up	LiHongjing	(1)Within36monthsfromthedateoftheCompany'sstocklisting,IwillnottransferorentrustotherstomanagethesharesIdirectlyorindirectlyholdthatwereissuedbeforetheinitialpublicoffering(IPO),norwillIproposethattheCompanyrepurchasetheseshares.(2)ThesharesIholdintheCompanycannotbetransferredwithinsixmonthsafterIceasetoserveasadirectororseniorexecutiveoftheCompany.(3)Duringmytenureasadirectororseniorexecutive,thesharesItransfereachyearshallnotexceed25%ofmytotalholdings.IfIleaveofficebeforetheexpirationofmyterm,Ishallcomplywiththiscommitmentwithinmyoriginallydesignatedtermandforsixmonthsthereafter.(4)Fortwoyearsafterthelock-upperiod	2020	Yes	Within36monthsfromthedateoftheCompany'sstocklisting;within2yearsafterthelock-upperiodexpires.	Yes	Notapplicable	Notapplicable

/

		expires,IwillnotsellmysharesatapricelowerthantheIPOissueprice.If,withinsixmonthsaftertheCompany’slisting,thestockclosesbelowtheIPOpricefor20consecutivetradingdaysoriftheclosingpriceisbelowtheIPOpriceattheendofthesix-monthperiod,thelock-upperiodwillbeautomaticallyextendedbysixmonths.(Ifstockdividends,capitalizationofcapitalreserves,dividends,orotherrightsadjustmentsoccurduringthisperiod,thesellingpriceshallbeadjustedaccordingly.)(5)IfIplantoreducemyholdingsafterthelock-upperiod,IwillstrictlycomplywiththeregulationsoftheChinaSecuritiesRegulatoryCommission(CSRC)andthestockexchange,prudentlyformulateastockreductionplanbasedontheneedtostabilizestockprices,operatethebusiness,andconductcapitaloperations.Reductionmethodsincludebutarenotlimitedtocentralizedbidding,blocktrades,andnegotiatedtransfers,withreductionpricesdeterminedbasedonmarketconditionsorbulktradingagreements.IfIreduceholdingsviacentralizedbidding,Iwillsubmitareportandpre-disclosemyplan15tradingdaysbeforethefirstsale.(6)Iwillcomplywithallapplicablelaws,regulations,andtheSTARMarketlistingrulesregardingsharetransfersbycontrollingshareholders,actualcontrollers,directors,andseniorexecutives.
Sharelock-up	LiHong	(1)ThesharesIholdintheCompanycannotbetransferredwithinsixmonthsafterIceasetoserveasadirectororseniorexecutiveoftheCompany.	2020	Yes	Within1yearfromthedateofthe	Yes	Notapplicable	Notapplicable

/

(2)Duringmytenureasadirectororseniorexecutive,thesharesItransfereachyearshallnotexceed25%ofmytotalholdings.IfIleaveofficebeforetheexpirationofmyterm,Ishallcomplywiththiscommitmentwithinmyoriginallydesignatedtermandforsixmonthsthereafter.(3)IfIplantoreducemyholdingsafterthelock-upperiod,IwillstrictlycomplywiththeregulationsoftheChinaSecuritiesRegulatoryCommission(CSRC)andthestockexchange,prudentlyformulateastockreductionplanbasedontheneedtostabilizestockprices,operatethebusiness,andconductcapitaloperations.Reductionmethodsincludebutarenotlimitedtocentralizedbidding,blocktrades,andnegotiatedtransfers,withreductionpricesdeterminedbasedonmarketconditionsorbulktradingagreements.IfIreduceholdingsviacentralizedbidding,Iwillsubmitareportandpre-disclosemyplan15tradingdaysbeforethefirstsale.(4)Iwillcomplywithallapplicablelaws,regulations,andtheSTARMarketlistingrulesregardingsharetransfersbydirectorsandseniorexecutives.AsacoretechnicalpersonneloftheCompany,Ifurthercommitasfollows:(1)Iwillnottransferpre-IPOshareswithin12monthsfromthedateoftheCompany'sstocklistingandwithinsixmonthsafterresignation.(2)Withinfouryearsaftertheexpirationoftheinitialsharelock-upperiod,Iwillnottransfermorethan25%ofmytotalpre-IPOshareholdingsperyear,withanyunused

Company'sstocklisting;within4yearsafterthelock-upperiodexpires;within6monthsaftertheindividualceasestoserveasadirectororseniorexecutiveoftheCompany;within6monthsafterresignation.

/

		transferquotabeingcumulative.(3)Iwillcomplywithallapplicablelaws,regulations,andtheSTARMarketlistingrulesregardingsharetransfersbycoretechnicalpersonnel.
Sharelock-up	CompanyShareholderDaoHeTongDa,FortuneChuangfeng,FortuneChuangtai,FortuneChuangheng,FortuneCaxin,FortuneChuangrui,FiveStarTitanium,WenzhouTitaniumStar,PingyangTitanium	(1)ThesharesheldbythisentitythatwereissuedbeforetheCompany'sinitialpublicoffering(IPO)shallnotbetransferredwithinoneyearfromthedateoftheCompany'sstocklisting.(2)Ifthisentityplanstoreduceitsholdingsafterthelock-upperiodexpires,itwillstrictlycomplywiththerelevantlaws,regulations,andrequirementsoftheChinaSecuritiesRegulatoryCommission(CSRC)andthestockexchangeregardingsharereduction.Consideringtheneedtostabilizestockprices,supportbusinessoperations,andfacilitatecapitaltransactions,theentitywillprudentlyformulateasharereductionplan.Reductionmethodsincludebutarenotlimitedtocentralizedbiddingonthestockexchange,blocktrades,andnegotiatedtransfers,withreductionpricesdeterminedbasedonprevailingmarketconditionsorblocktradeagreements.Iftheentityplanstoreduceholdingsthroughcentralizedbiddingonthestockexchange,itshallreporttotheexchangeandpre-disclosethereductionplanatleast15tradingdaysbeforethefirstsale.(3)Theentitywillcomplywithallapplicablelaws,regulations,andtheSTARMarketlistingrulesregardingthetransferofshareholderequity.	2020	Yes	Within1yearfromthedateoftheCompany'sstocklisting.	Yes	Notapplicable	Notapplicable
Sharelock-up	CompanySharehold	(1)ThesharesheldbythisentitythatwereissuedbeforetheCompany'sinitialpublic	2020	Yes	Within1yearfrom	Yes	Notapplicable	Notapplicable

/

	erNanshanHongtai,ShenzhenJiangu,LavaStrategy,HainingJiahui,MeishanJundu,QingdaoJinshi,GuangzhouZhizao,YangzhouShangqi,LavaNo.2,LavaWave,LavaAge	offering(IPO)shallnotbetransferredwithinoneyearfromthedateoftheCompany'sstocklisting.(2)Thisentitywillcomplywithallapplicablelaws,regulations,andtheSTARMarketlistingrulesregardingthetransferofshareholderequity.			thedateoftheCompany'sstocklisting.
Sharelock-up	CompanyShareholderDongTaiHeShunJia	1)Within36monthsfromthedateoftheCompany'sstocklisting,thisentityshallnottransferorentrustotherstomanagethesharesitdirectlyorindirectlyholdsthatwereissuedbeforetheinitialpublicoffering(IPO),norshallitproposethattheCompanyrepurchasetheseshares.(2)Thisentitywillcomplywithallapplicablelaws,regulations,andtheSTARMarketlistingrulesregardingthetransferofshareholderequity.	2020	Yes	Within36monthsfromthedateoftheCompany'sstocklisting.	Yes	Notapplicable	Notapplicable
Sharelock-up	OtherthanLiHongjing	(1)ThesharesIholdintheCompanythatwereissuedbeforetheinitialpublicoffering(IPO)shallnotbetransferredwithinoneyear	2020	Yes	Within1yearfromthedateof	Yes	Notapplicable	Notapplicable

/

andLiHong,DirectorsandSeniorManagement:GaoYihui,LiHuajun,NongYingbin,WangYongzhi,WangYong

fromthedateoftheCompany'sstocklisting.(2)IfIreducemyholdingswithintwoyearsafterthelock-upperiodexpires,thesellingpriceshallnotbelowerthantheIPOissueprice.If,withinsixmonthsaftertheCompany'slisting,thestockclosesbelowtheIPOpricefor20consecutivetradingdays,oriftheclosingpriceisbelowtheIPOpriceattheendofthesix-monthperiod,thelock-upperiodwillbeautomaticallyextendedbysixmonths.(Ifstockdividends,capitalizationofcapitalreserves,dividends,orotherrightsadjustmentsoccurduringthisperiod,thesellingpriceshallbeadjustedaccordingly.)(3)ThesharesIholdintheCompanycannotbetransferredwithinsixmonthsafterIceasetoserveasadirectororseniorexecutiveoftheCompany.(4)Duringmytenureasadirector,supervisor,orseniorexecutive,thesharesItransfereachyearshallnotexceed25%ofmytotalholdings.IfIleaveofficebeforetheexpirationofmyterm,Ishallcomplywiththiscommitmentwithinmyoriginallydesignatedtermandforsixmonthsthereafter.(5)IfIplantoreducemyholdingsafterthelock-upperiod,IwillstrictlycomplywiththeregulationsoftheChinaSecuritiesRegulatoryCommission(CSRC)andthestockexchange,prudentlyformulateastockreductionplanbasedontheneedtostabilizestockprices,operatethebusiness,andconductcapitaloperations.Reductionmethodsincludebutarenotlimitedtocentralizedbidding,blocktrades,andnegotiatedtransfers,withreductionpricesdeterminedbasedonmarket

theCompany'sstocklisting;within2yearsafterthelock-upperiodexpires;within6monthsaftertheindividualceasestoserveasadirectororseniorexecutiveoftheCompany.

/

		conditionsorbulktradingagreements.IfIreduceholdingsviacentralizedbidding,Iwillsubmitareportandpre-disclosemyplan15tradingdaysbeforethefirstsale.(6)Iwillcomplywithallapplicablelaws,regulations,andtheSTARMarketlistingrulesregardingsharetransfersbydirectorsand/orseniorexecutives.
Sharelock-up	SupervisorsHoldingCompanyShares:ZhangWei,ZhouQiufang,RenJunzhao	(1)ThesharesIholdintheCompanythatwereissuedbeforetheinitialpublicoffering(IPO)shallnotbetransferredwithinoneyearfromthedateoftheCompany'sstocklisting.(2)ThesharesIholdintheCompanycannotbetransferredwithinsixmonthsafterIceasetoserveasasupervisoroftheCompany.(3)Duringmytenureasasupervisor,thesharesItransfereachyearshallnotexceed25%ofmytotalholdings.IfIleaveofficebeforetheexpirationofmyterm,Ishallcomplywiththiscommitmentwithinmyoriginallydesignatedtermandforsixmonthsthereafter.(4)IfIplantoreducemyholdingsafterthelock-upperiod,IwillstrictlycomplywiththeregulationsoftheChinaSecuritiesRegulatoryCommission(CSRC)andthestockexchange,prudentlyformulateastockreductionplanbasedontheneedtostabilizestockprices,operatethebusiness,andconductcapitaloperations.Reductionmethodsincludebutarenotlimitedtocentralizedbidding,blocktrades,andnegotiatedtransfers,withreductionpricesdeterminedbasedonmarketconditionsorbulktradingagreements.IfIreduceholdingsviacentralizedbidding,Iwill	2020	Yes	Within1yearfromthedateoftheCompany'sstocklisting;within6monthsaftertheindividualceasestoserveasasupervisoroftheCompany.	Yes	Notapplicable	Notapplicable

/

		submitareportandpre-disclosemyplan15tradingdaysbeforethefirstsale.(5)Iwillcomplywithallapplicablelaws,regulations,andtheSTARMarketlistingrulesregardingsharetransfersbysupervisors.
Others	Coretechnicalpersonnelholdingcompanyshares(directlyorindirectly):DengRenxiang,YinHui,ZhanJinyong,LuoYongliang	(1)Ishallnottransferthepre-IPOsharesIholdintheCompanywithin12monthsfromthedateoftheCompany'sstocklistingorwithinsixmonthsafterresignation.(2)Withinfouryearsaftertheexpirationoftheinitialsharelock-upperiod,Ishallnottransfermorethan25%ofmytotalpre-IPOshareholdingsperyear,withanyunusedtransferquotabeingcumulative.(3)Ishallcomplywithallapplicablelaws,regulations,andtheSTARMarketlistingrulesregardingthetransferofsharesbycoretechnicalpersonnel.	2020	Yes	Within12monthsfromthedateoftheCompany'sstocklistingand6monthsafterresignation;within4yearsaftertheexpirationoftheinitialsharelock-upperiod.	Yes	Notapplicable	Notapplicable
Others	TheCompany,itscontrollingshareholder,andactualcontroller	(1)CommitmentbytheCompanyontheRepurchaseofSharesintheEventofFraudulentIssuance:TheCompanyguaranteesthatthereisnofraudulentissuanceinitsinitialpublicoffering(IPO)andlistingontheSTARMarket.IftheCompanydoesnotmeetthelistingrequirementsandhasfraudulentlyobtainedregistrationapprovalforissuanceandlisting,theCompanywillinitiateasharerepurchaseprocedurewithinfiveworkingdaysuponconfirmationbytheChinaSecuritiesRegulatoryCommission(CSRC)orothercompetentauthorities,repurchasingall	2020	No	Long-termvalid	Yes	Notapplicable	Notapplicable

/

		newlyissuedsharesfromtheIPO.(2)CommitmentbytheControllingShareholderandActualControllerontheRepurchaseofSharesintheEventofFraudulentIssuance:TheCompany'scontrollingshareholderandactualcontrollerguaranteethatthereisnofraudulentissuanceintheCompany'sIPOandlistingontheSTARMarket.IftheCompanydoesnotmeetthelistingrequirementsandhasfraudulentlyobtainedregistrationapprovalforissuanceandlisting,thecontrollingshareholderandactualcontrollerwillinitiateasharerepurchaseprocedurewithinfiveworkingdaysuponconfirmationbytheCSRCorothercompetentauthorities,repurchasingallnewlyissuedsharesfromtheIPO.
Dividends	TheCompany,itscontrollingshareholderandactualcontrollerLiHongjing,andOtherDirectorsandSeniorManagement:LiHong,Gao	TheCompany/Icommittocomplyingwithandimplementingtheprofitdistributionpoliciesoutlinedinthethen-effectiveArticlesofAssociationandtheShareholderDividendReturnPlanfortheThreeYearsFollowingtheCompany’sInitialPublicOffering(A-Shares)andListingontheSTARMarket.	2020	No	Long-termvalid	Yes	Notapplicable	Notapplicable

/

	Yihui,ChenQuanshi,LiaoYixin,ZhouRunshu,NongYingbin,WangYong
Others	TheCompany	Followingthecompletionofthisoffering,theCompanyanticipatesthatimmediatereturnsmaybedilutedintheyearwhenthefundsarereceived.InaccordancewiththeOpinionsoftheGeneralOfficeoftheStateCouncilonFurtherStrengtheningtheProtectionofSmallandMediumInvestors'LegalRightsandInterestsintheCapitalMarket(GuoBanFa[2013]No.110)andtheGuidingOpinionsonMattersRelatedtotheDilutionofImmediateReturnsfromInitialPublicOfferings,Refinancing,andMajorAssetRestructuring(CSRCAnnouncement[2015]No.31),theCompanyintendstomitigatethedilutioneffectandenhancereturnsbyacceleratingtheimplementationofinvestmentprojectsfundedbytheIPOproceeds,strengtheningthedevelopmentofvariousbusinesssegments,andreinforcingriskmanagementtoenhanceitscorecompetitiveness.ThekeymeasuresformulatedbytheCompanyinclude:(1)ExpandinginternationalanddomesticmarketstoconsolidatetheCompany'sglobaldevelopmentstrategy.TheCompany'sautomotivediagnosticproduct	2020	No	Long-termValid	Yes	Notapplicable	Notapplicable

/

/

		willstrictlymanageandutilizethesefundsincompliancewithrelevantlaws,regulations,andtheAdministrativeMeasuresfortheUseofRaisedFunds,maximizingtheireffectivedeployment.(4)Improvingcorporategovernanceandregulatorycompliance.TheCompanywillcontinuetoenhanceitscorporategovernancestructureandinformationdisclosuremechanisms,providinginstitutionalsafeguardstoregulatetheuseofraisedfunds.Additionally,itwillmaintainastabledividendpolicy,ensuringtheconsistencyandstabilityofprofitdistributionwhilestrengtheningtheinvestorreturnmechanism.(5)Continuouslyrefininginvestorprotectionmechanisms.TheCompanywilladjustandimproveitsinvestorprotectionpoliciesinaccordancewithspecificrulesandregulationsissuedbytheChinaSecuritiesRegulatoryCommission(CSRC)andthestockexchange.Itwillalsodrawuponbestpracticesamonglistedcompaniestosupplement,revise,andimplementthesemeasurestoprotectinvestorrightseffectively.
Others	Controllingshareholderandactualcontroller:LiHongjing	Toensuretheeffectiveimplementationofthemeasuresforcompensatingdilutedimmediatereturns,I,LiHongjing,thecontrollingshareholderandactualcontrolleroftheCompany,herebycommit:IwillnotoverstepmyauthoritytointerferewiththeCompany'soperationalandmanagementactivities,norwillIinfringeupontheCompany'sinterests.Fromthedateofthiscommitmentuntilthecompletionoftheissuance,iftheChinaSecuritiesRegulatoryCommission(CSRC)	2020	No	Long-termvalid	Yes	Notapplicable	Notapplicable

/

		introducesnewregulatoryrequirementsregardingthecompensationmeasuresandrelatedcommitmentsfordilutedreturns,andtheexistingcommitmentsfailtomeetsuchrequirements,IpledgetoissueasupplementalcommitmentinaccordancewiththelatestCSRCregulations.IfurthercommittofullyimplementingtheCompany'sformulatedmeasuresforcompensatingdilutedreturnsandanyrelatedcommitments.IfIviolatethesecommitmentsandcauselossestotheCompanyorinvestors,IamwillingtoassumelegalresponsibilityandprovidecompensationtotheCompanyorinvestorsasrequiredbylaw.
Others	OtherDirectorsandSeniorManagementoftheCompany:LiHong,GaoYihui,ChenQuanshi,LiangDanni,ZhouRunshu,NongYingbin,WangYong	Weherebycommitnottotransferbenefitstootherentitiesorindividualswithoutcompensationoronunfairterms,nortoengageinanyactivitiesthatmayharmtheinterestsoftheCompanybyothermeans.WecommittoregulatingpersonalexpendituresrelatedtoourofficialdutiesandnottouseCompanyassetsforinvestmentsorconsumptionactivitiesunrelatedtoourresponsibilities.WealsocommittolinkingtheremunerationsystemformulatedbytheBoardofDirectorsorthePolicyandAssessmentCommitteetotheimplementationoftheCompany'sreturncompensationmeasures.Furthermore,wecommittoensuringthatthevestingconditionsoftheCompany'sproposedequityincentiveplanaretiedtotheexecutionoftheCompany'sreturncompensationmeasures.	2020	No	Long-termvalid	Yes	Notapplicable	Notapplicable
Others	TheCompany,	(1)TheCompanymakesthefollowingcommitmentsregardingmeasurestobetaken	2020	No	Long-termvalid	Yes	Notapplicable	Notapplicable

/

itscontrollingshareholder,actualcontroller,andotherDirectors,Supervisors,andSeniorManagement:LiHong,LiHuajun,GaoYihui,ChenQuanshi,LiaoYixin,ZhouRunshu,ZhangWei,ZhouQiufang,RenJunzhao,NongYingbin,WangYongzhi,WangYong

intheeventoffailuretofulfillitscommitments:IftheCompanyfailstofulfillitscommitments,itwillpubliclyexplainthespecificreasonsfornon-fulfillmentandapologizetoshareholdersandpublicinvestorsviathegeneralmeetingofshareholdersandthedisclosuremediadesignatedbytheChinaSecuritiesRegulatoryCommission(CSRC).Directors,supervisors,andseniormanagementpersonnelwhoarepersonallyresponsiblefortheunfulfilledcommitmentswillhavetheirsalariesorallowancesreducedorsuspended.Theresignationapplicationsofsuchdirectors,supervisors,andseniormanagementpersonnelwillnotbeapproved,thoughpositionadjustmentsmaybemade.IfinvestorssufferlossesduetotheCompany'sfailuretofulfillitscommitments,theCompanywillassumecompensationliabilityinaccordancewiththelaw.(2)TheCompany'scontrollingshareholderandactualcontroller,LiHongjing,makesthefollowingcommitmentsregardingmeasurestobetakenintheeventoffailuretofulfillcommitments:IfIfailtofulfillthecommitmentsdisclosedintheprospectus,Icommittopubliclyexplainingthespecificreasonsfornon-fulfillmentandapologizingtotheCompany’sshareholdersandpublicinvestorsviathegeneralmeetingofshareholdersandthedisclosuremediadesignatedbytheCSRC.IfmyfailuretofulfillthecommitmentsresultsinlossestotheCompanyorotherinvestors,Icommittoassumingcompensationliabilityinaccordancewiththelaw.IfIfailtofulfill

/

			suchcompensationobligations,thepre-IPOsharesIholdshallnotbetransferreduntilthecompensationobligationisfullysatisfied.Additionally,theCompanyhastherighttowithholdmyallocatedcashdividendstofulfillthecompensationresponsibility.(3)TheCompany'sotherdirectors,supervisors,andseniormanagementpersonnel,LiHong,LiHuajun,GaoYihui,ChenQuanshi,LiaoYixin,ZhouRunshu,ZhangWei,ZhouQiufang,RenJunzhao,NongYingbin,WangYongzhi,WangYong,committhatifIfailtofulfillthepubliccommitmentsdisclosedintheprospectus,Iwillpubliclyexplainthespecificreasonsfornon-fulfillmentandapologizetotheCompany’sshareholdersandpublicinvestorsviathegeneralmeetingofshareholdersandthedisclosuremediadesignatedbytheCSRC.Iwillstopreceivingremunerationwithin10tradingdaysfromtheoccurrenceofsuchnon-fulfillment,andthesharesoftheCompanythatIdirectlyorindirectlyhold(ifany)shallnotbetransferreduntilIhavefullyfulfilledtherelevantcommitments.IfmyfailuretofulfillthecommitmentsresultsinlossestotheCompanyorinvestors,Icommittoassumingcompensationliabilityinaccordancewiththelaw.
Commitmentsrelatedtorefinancing	Others	TheCompany'scontrollingshareholderand	(1)IwillnotoverstepmyauthoritytointerferewiththeCompany'soperationalandmanagementactivities,norwillIinfringeupontheCompany'sinterests.(2)Fromthedateofthiscommitmentuntilthecompletionoftheissuanceoftheconvertiblecorporatebonds,iftheChina	2021	No	Long-termvalid	Yes	Notapplicable	Notapplicable

/

	actualcontroller:LiHongjing	SecuritiesRegulatoryCommission(CSRC)orothersecuritiesregulatoryauthoritiesintroducenewregulatoryrequirementsregardingthemeasuresforcompensatingdilutedreturnsandrelatedcommitments,andiftherelevantcontentofthiscommitmentdoesnotmeetsuchrequirements,IpledgetoissueasupplementalcommitmentinaccordancewiththelatestregulationsoftheCSRCorothersecuritiesregulatoryauthorities.(3)IcommittofullyimplementingtheCompany'sformulatedmeasuresforcompensatingdilutedreturnsandanyrelatedcommitments.IfIviolatethesecommitmentsandcauselossestotheCompanyorinvestors,IamwillingtoassumelegalresponsibilityandprovidecompensationtotheCompanyorinvestorsasrequiredbylaw.
Others	DirectorsandSeniorManagement:LiHongjing,LiHong,NongYingbin,GaoYihui,ChenQuanshi,LiangDanni,ZhouRunshu,Fang	ToensuretheeffectiveimplementationoftheCompany'smeasuresforcompensatingdilutedreturns,alldirectorsandseniormanagementherebymakethefollowingcommitments:(1)Wewillnottransferbenefitstootherentitiesorindividualswithoutcompensationoronunfairterms,norwillweengageinanyactivitiesthatmayharmtheinterestsoftheCompanybyothermeans.(2)Wewillregulateourpersonalexpendituresrelatedtoourofficialduties.(3)WewillnotuseCompanyassetsforinvestmentsorconsumptionactivitiesunrelatedtoourresponsibilities.(4)TheremunerationsystemformulatedbytheBoardofDirectorsortheRemuneration	2021	No	Long-termvalid	Yes	Notapplicable	Notapplicable

/

Wenbin

andAppraisalCommitteeshallbelinkedtotheimplementationoftheCompany'sreturncompensationmeasures.(5)IftheCompanyintroducesanequityincentiveplaninthefuture,thevestingconditionsofsuchaplanshallbelinkedtotheimplementationoftheCompany'sreturncompensationmeasures.(6)WecommittoactivelyadoptingallnecessaryandreasonablemeasuresinaccordancewithfutureregulationsissuedbysecuritiesregulatoryauthoritiesandstockexchangestoensuretheeffectiveimplementationoftheCompany'sreturncompensationmeasures.(7)WecommittofullyimplementingtheCompany'sformulatedmeasuresforcompensatingdilutedreturnsandanyrelatedcommitments.IfweviolatethesecommitmentsandcauselossestotheCompanyorinvestors,wearewillingtoassumelegalresponsibilityandprovidecompensationtotheCompanyorinvestorsasrequiredbylaw.

/

ii.WheretherehadbeenanearningsforecastforanassetorprojectandtheReportingPeriodwasstillwithintheforecastperiod,explainwhytheforecasthasorhasnotbeenreachedfortheReportingPeriod.

□Forecastreached□Forecastunreached√Notapplicableiii.Fulfillmentofperformancecommitmentsandtheimpactongoodwillimpairmenttests

□Applicable√NotapplicableIIOccupationoftheCompany’sCapitalbytheControllingShareholderorOtherRelatedPartiesforNon-OperatingPurposesduringtheReportingPeriod

□Applicable√NotapplicableIIIIrregularitiesintheProvisionofGuarantees

□Applicable√NotapplicableIVExplanationGivenbytheBoardofDirectorsRegarding“IndependentAuditor’sReportwithModifiedOpinion”

□Applicable√NotapplicableVReasonsforAccountingPolicyorEstimateChangesorCorrectionofMaterialAccountingErrorsandtheImpacti.Reasonsforaccountingpolicyorestimatechangesandtheimpact

√Applicable□Notapplicable

InMarch2024,theMinistryofFinanceissuedtheCompilationoftheApplicationGuidelinesforAccountingStandards2024forBusinessEnterprises,whichstipulatesthatguarantee-typeproductwarrantyexpensesshouldbeincludedincostofsales.WehaveimplementedtheaboveprovisionfromJanuary1,2024,andimplementedtheApplicationGuidelines2024onthepresentationofguarantee-typeproductwarrantyexpenses.Weusetheretrospectivemethodtomakecorrespondingadjustmentstothefinancialstatementsof

/

thecomparableperiod.Theimplementationofthisprovisionwillnotaffectournetprofit.Thespecificimpactonourconsolidatedfinancialstatementsisasfollows:

Unit:RMB

2024
Item	Restated	Before	Difference
Sellingexpense	559,013,309.44	560,984,601.07	-1,971,291.63
Costofsales	1,757,168,323.58	1,755,197,031.95	1,971,291.63

2023

2023
Item	Restated	Before	Difference
Sellingexpense	481,305,675.57	488,037,456.30	-6,731,780.73
Costofsales	1,473,283,201.21	1,466,551,420.48	6,731,780.73

ii.Reasonsforcorrectionofmaterialaccountingerrorsandtheimpact

□Applicable√Notapplicableiii.Communicationswiththeformeraccountingfirm

□Applicable√Notapplicableiv.Approvalprocessandotherinformation

□Applicable√NotapplicableVIAppointmentandDismissalofAccountingFirm

Unit:RMB’0,000

	Inservice
Nameofthedomesticaccountingfirm	Pan-ChinaCertifiedPublicAccountsLLP
TheCompany’spaymenttothedomesticaccountingfirm	100
HowmanyyearsthedomesticaccountingfirmhasprovidedauditservicefortheCompany	5
Nameofcertifiedpublicaccountantsofthedomesticaccountingfirm	ZhuDaweiandYeNan
HowmanyyearsthecertifiedpublicaccountantsofthedomesticaccountingfirmhaveprovidedauditservicefortheCompany	2

Name

	Name	Payment
Accountingfirmfortheauditofinternalcontrol	Pan-ChinaCertifiedPublicAccountsLLP	28

/

Financialadvisor	CITICSecuritiesCompanyLimited	/
Sponsor	CITICSecuritiesCompanyLimited	/

Appointmentanddismissalofaccountingfirm:

√Applicable□NotapplicableTheProposalonRe-appointingtheAccountingFirmwasreviewedandapprovedattheFifthMeetingoftheAuditCommitteeoftheFourthBoardofDirectors,theNinthMeetingoftheFourthBoardofDirectorsandthe2023AnnualGeneralMeetingofShareholders.Assuch,itwasapprovedtoappointPan-ChinaCertifiedPublicAccountsLLPasthefinancialandinternalcontrolauditorfor2024.Changeoftheaccountingfirmduringtheaudit:

□Applicable√NotapplicableIndicatewhethertheauditfeedecreasedover20%(inclusive)comparedwithlastyear.

□Applicable√NotapplicableVIIDelistingRiski.Reasonsforthedelistingriskwarning

□Applicable√Notapplicableii.TheCompany’sresponse

□Applicable√Notapplicableiii.Riskofterminationoflistingandthereasons

□Applicable√NotapplicableVIIIInsolvencyandReorganization

□Applicable√Notapplicable

/

IXSignificantLegalMatters

□TheCompanyhasmateriallitigationandarbitrationthisyear

√TheCompanyhasnomateriallitigationandarbitrationthisyearXPunishmentsontheCompanyaswellasItsDirectors,Supervisors,Seniorexecutives,ControllingShareholderandActualControllerforViolationofLawsorRegulations,aswellastheRelevantRectifications

□Applicable√NotapplicableXICreditStandingsoftheCompanyaswellasItsControllingShareholderand

ActualControllerduringtheReportingPeriod

□Applicable√NotapplicableXIIMajorRelated-PartyTransactionsi.Continuingrelated-partytransactions

1.Alreadydisclosedincurrentannouncementwithoutnewprogressorchanges

√Applicable□Notapplicable

Transactionoverview

Indextothedisclosedinformation

TheProposalontheEstimatedContinuingRelated-partyTransactionsbetweentheCompanyandAutelRoboticsCo.,Ltd.wasreviewedandapprovedattheNinthMeetingoftheFourthBoardofDirectorsandtheFifthMeetingoftheFourthSupervisoryCommitteeonMarch29,2024.Assuch,theBoardofDirectorsagreedthattheCompanywouldconductcontinuingrelated-partytransactionswithAutelRoboticsCo.,Ltd.,anditwasexpectedthatthecontractamountofthesecontinuingrelated-partytransactionsin2024wouldnotexceedRMB15million.

PleaserefertoAnnouncementNo.2024-030

2.Disclosedincurrentannouncementbutwithnewprogressorchanges

□Applicable√Notapplicable

3.Undisclosedincurrentannouncement

□Applicable√Notapplicable

/

ii.Related-partytransactionsregardingpurchaseorsaleofassetsorequityinvestments

1.Alreadydisclosedincurrentannouncementwithoutnewprogressorchanges

√Applicable□Notapplicable

Transactionoverview

Indextothedisclosedinformation

TheCompanytransferred5%equityinterestsinSkyFendTechnology,asubsidiaryoftheCompany,toMr.LinZhongshan.Uponthecompletionofthisequitytransfer,SkyFendTechnologywillnolongerbeincludedintheCompany’sconsolidatedfinancialstatements.ThesaidtransactionwasreviewedandapprovedattheNinthMeetingoftheFourthBoardofDirectors,theFifthMeetingoftheFourthSupervisoryCommittee,andthe2023AnnualGeneralMeetingofShareholders.

PleaserefertotheAnnouncementontheTransferofEquityInterestsinSubsidiary&Related-partyTransaction(AnnouncementNo.:2024-031)andtheAnnouncementonProgressoftheTransferofEquityInterestsinSubsidiary&Related-partyTransaction(AnnouncementNo.:2024-038),whichhavebeendisclosedbytheCompanyonthewebsiteoftheShanghaiStockExchange(www.sse.com.cn).

2.Disclosedincurrentannouncementbutwithnewprogressorchanges

□Applicable√Notapplicable

3.Undisclosedincurrentannouncement

□Applicable√Notapplicable

4.Whereaperformancecommitmentisinvolvedinsucharelated-partytransaction,theperformanceresultsfortheReportingPeriodshallbedisclosed.

□Applicable√Notapplicableiii.Majorrelated-partytransactionsregardingjointinvestmentsinthirdparties

1.Alreadydisclosedincurrentannouncementwithoutnewprogressorchanges

□Applicable√Notapplicable

2.Disclosedincurrentannouncementbutwithnewprogressorchanges

□Applicable√Notapplicable

3.Undisclosedincurrentannouncement

□Applicable√Notapplicable

/

iv.Amountsduetoandfromrelatedparties

1.Alreadydisclosedincurrentannouncementwithoutnewprogressorchanges

√Applicable□Notapplicable

Overview

Indextothedisclosedinformation

TheCompanyintendedtoprovideaguaranteefortheprincipalandinterestinSkyFendTechnology’sapplicationforcomprehensivecreditfromfinancialinstitutionsinproportiontoitsshareholding.Atthesametime,SkyFendTechnologyandothershareholdersholdingitsequity,namely,ShenzhenDaoHeTongLiaoInformationConsultingEnterprise(L.P.),ShenzhenDaoHeTongWangInformationConsultingEnterprise(L.P.),ShenzhenDaoHeTongXingInformationConsultingEnterprise(L.P.),Mr.LiHongjing,Mr.LinZhongshanandMs.NongYingbin,wouldprovideacounter-guaranteefortheCompany.ThesaidtransactionwasreviewedandapprovedattheSecondSpecialMeetingoftheIndependentDirectorsoftheFourthBoardofDirectors,the17thMeetingoftheFourthBoardofDirectors,the11thMeetingoftheFourthSupervisoryCommittee,andtheFourthExtraordinaryGeneralMeetingofShareholdersin2024.

PleaserefertotheAnnouncementonProvidingGuaranteeforJoint-stockCompanyandRelated-partyTransaction(AnnouncementNo.2024-099),whichhavebeendisclosedbytheCompanyonthewebsiteoftheShanghaiStockExchange(www.sse.com.cn).

2.Disclosedincurrentannouncementbutwithnewprogressorchanges

□Applicable√Notapplicable

3.Undisclosedincurrentannouncement

□Applicable√Notapplicablev.FinancialtransactionsbetweentheCompanyandrelatedfinancecompanies,orbetweenfinancecompaniesundertheCompany’scontrolandrelatedparties

□Applicable√Notapplicablevi.Otherinformation

□Applicable√Notapplicable

/

XIIIMajorContractsandtheExecutioni.Entrustment,ContractingandLeases

1.Entrustment

□Applicable√Notapplicable

2.Contracting

□Applicable√Notapplicable

3.Leases

□Applicable√Notapplicable

/

ii.Guarantees

√Applicable□Notapplicable

Unit:RMB

GuaranteesprovidedbytheCompanyforexternalparties(exclusiveofthoseforsubsidiaries)

Guarantor

Relationshipbetweentheguarantorandthelistedcompany

Guaranteedparty

Amountofguarantee

Guaranteeoccurrencedate(agreementsigningdate)

Startdate

Enddate

Typeofguarantee

Collateral(ifany)

Havingexpiredornot

Overdueornot

Overdueamount

Counterguarantee

Guaranteeforarelatedpartyornot

Relationshipbetweentheguaranteedpartyandthelistedcompany

Autel

TheCompany

SkyFendTechnology

92,000,000

December26,2024

December26,2024

Threeyearsfromthedateofexpirationofthedebtperformanceperiodunderthemaincontract

Joint-liability

None

No

No

-

SkyFendTechnologyandothershareholdersholdingitsequityprovidedacounterguaranteeforAutel.

Yes

TheCompany’sassociate

TotalamountofsuchguaranteesincurredduringtheReportingPeriod(exclusiveofthoseforsubsidiaries)

92,000,000

Totalbalanceofsuchguaranteesattheperiod-end(A)(exclusiveofthoseforsubsidiaries)

92,000,000

GuaranteesprovidedbytheCompanyanditssubsidiariesforsubsidiaries

/

Guarantor

Relationshipbetweentheguarantorandthelistedcompany

Guaranteedparty

Relationshipbetweentheguaranteedpartyandthelistedcompany

Amountofguarantee

Guaranteeoccurrencedate(agreementsigningdate)

Startdate

Enddate

Typeofguarantee

Havingexpiredornot

Overdueornot

Overdueamount

Counterguarantee

Autel

TheCompany

AutelHeda

Wholly-ownedsubsidiary

6,000,000

July3,2024

July3,2024

July2028

Joint-liability

No

No

-

No

Autel

TheCompany

AutelDigitalPower

Majority-ownedsubsidiary

20,000,000

October29,2024

October29,2024

October2028

Joint-liability

No

No

-

No

Autel

TheCompany

AutelUK

Wholly-ownedsubsidiary

17,866.18

December17,2024

December17,2024

-

Joint-liability

No

No

-

No

TotalamountofsuchguaranteesforsubsidiariesincurredduringtheReportingPeriod

26,017,866

Totalbalanceofsuchguaranteesforsubsidiariesattheperiod-end(B)

26,017,866

Totalguarantees(inclusiveofthoseforsubsidiaries)

Totalguaranteeamount(A+B)

118,017,866

Totalguaranteeamountas%oftheCompany’sequity

3.32

Ofwhich:

Guaranteeamountprovidedforshareholders,actualcontrollerandtheirrelatedparties(C)

92,000,000

Debtguaranteeamountprovideddirectlyorindirectlyforentitieswithanover70%debt/assetratio(D)

118,017,866

Amountbywhichthetotalguaranteeamountexceeds50%oftheCompany’sequity(E)

-

Thetotalamountoftheabovethreekindsofguarantees(C+D+E)

210,017,866

Jointresponsibilitiespossiblyborneforundueguarantees

Notapplicable

Notes

1.OnDecember26,2024,theProposalonProvidingGuaranteeforJoint-stockCompanyandRelated-partyTransactionwasreviewedandapprovedattheFourthExtraordinaryGeneralMeetingofShareholdersin2024.TheCompanyprovidedaguaranteefortheprincipalandinterestinSkyFendTechnology’sapplicationforcomprehensivecreditofnomorethan

/

iii.Cashentrustedtootherentitiesformanagement

1.Cashentrustedforfinancialmanagement

(1)Totalcashentrustedforfinancialmanagement

√Applicable□Notapplicable

Unit:RMB

RMB200millionfromfinancialinstitutionsinproportiontoitsshareholding.Atthesametime,SkyFendTechnologyandothershareholdersholdingitsequityprovidedacounter-guaranteefortheCompany.

2.OnApril19,2024,theProposalontheEstimatedAmountofGuaranteesforExternalEntitiesfor2024wasreviewedandapprovedatthe2023AnnualGeneralMeetingofShareholders.TheCompanyestimatedthatthetotalguaranteeamountprovidedforitsmajority-ownedsubsidiariesin2024wouldnotexceedRMB400million(orequivalentamountinforeigncurrency).Withintheabove-mentionedestimatedguaranteeamount,thecompanymayallocatetheuseoftheamounttosubsidiarieswithintheguaranteescopebasedonactualconditions.Type

Type	Fundingsource	Amount	Undueamount	Unrecoveredoverdueamount
Bank’sfinancialmanagementproduct	Ownfunds	250,000,000.00	-	-

Otherinformation

□Applicable√Notapplicable

(2)Singlefinancialmanagemententrustment

√Applicable□Notapplicable

/

Unit:RMB

Trustee

Typeoffinancialmanagement

Amountoffinancialmanagement

Startdate

Enddate

Capitalsource

Useoffunds

Restrictedornot

Determinationofremuneration

Annualyield

Expectedincome(ifany)

Actualincomeorloss

Undueamount

Overdueamount

Throughlegalproceduresornot

Planformorefinancialmanagementornot

Impairmentprovision(ifany)

PingAnBank

Bank’sfinancialmanagementproduct

80,000,000.00

2024/1/25

2024/7/25

Ownfunds

Bank

No

Asagreedinthecontract

1.85%

/

740,000.00

-

-

Yes

Yes

/

PingAnBank

Bank’sfinancialmanagementproduct

50,000,000.00

2024/1/26

2024/7/26

Ownfunds

Bank

No

Asagreedinthecontract

1.85%

/

462,500.00

-

-

Yes

Yes

/

PingAnBank

Bank’sfinancialmanagementproduct

70,000,000.00

2024/1/29

2024/7/29

Ownfunds

Bank

No

Asagreedinthecontract

1.85%

/

647,500.00

-

-

Yes

Yes

/

PingAnBank

Bank’sfinancialmanagementproduct

10,000,000.00

2024/2/29

2024/8/29

Ownfunds

Bank

No

Asagreedinthecontract

1.85%

/

92,500.00

-

-

Yes

Yes

/

ChinaMerchantsBank

Bank’sfinancialmanagementproduct

20,000,000.00

2024/9/24

2024/10/8

Ownfunds

Bank

No

Asagreedinthecontract

1.54%/1.75%

/

13,424.66

-

-

Yes

Yes

/

ChinaMerchants

Bank’sfinancial

20,000,000.00

2024/9/24

2024/10/8

Ownfunds

Bank

No

Asagreedinthe

1.54%/1.75%

/

13,424.66

-

-

Yes

Yes

/

/

Bank

managementproduct

contract

Otherinformation

□Applicable√Notapplicable

(3)Impairmentallowancesforfinancialmanagemententrustment

□Applicable√Notapplicable

2.Entrustmentloans

(1)Totalentrustmentloans

□Applicable√NotapplicableOtherinformation:

□Applicable√Notapplicable

(2)Singleentrustmentloans

□Applicable√NotapplicableOtherinformation:

□Applicable√Notapplicable

/

(3)Impairmentallowancesforentrustmentloans

□Applicable√Notapplicable

3.Otherinformation

□Applicable√Notapplicableiv.Othersignificantcontracts

□Applicable√Notapplicable

XIVProgressontheUseofRaisedFunds

√Applicable□Notapplicablei.Overalluseofraisedfunds

√Applicable□Notapplicable

Unit:RMB’0,000

Sourceofraisedfunds

Raisedfundsavailabilitydate

Totalraisedfunds

Netproceeds(1)

Totalcommittedinvestmentamount

Totalamountofover-subscribedfunds(3)=(1)-(2)

Cumulativeamountofraisedfundsinvested

Ofwhich:Cumulativeamountofover-subscribedfundsinvestedas

Cumulativeinvestmentprogresswith

Cumulativeinvestmentprogresswithover-subscribedfundsas

Investmentamountintheperiod(8)

Investmentamountintheperiodas%of

Totalamountofre-purposedraisedfunds

/

				ofraisedfundsintheprospectusorofferingstatement(2)		asoftheperiod-end（4）	oftheperiod-end(5)	raisedfundsasoftheperiod-end(%)(6)＝(4)/(1)	oftheperiod-end(%)(7)＝(5)/(3)		netproceeds(9)=(8)/(1)
IPOofshares	February10,2020	121,800.00	109,924.94	65,000.62	44,924.32	114,195.25	46,883.09	103.88	104.36	12,424.31	11.30	55,609.64
Convertiblebonds	July14,2022	128,000.00	126,187.37	126,187.37		98,381.68		77.96		7,559.98	5.99
Total	/	249,800.00	236,112.31	191,187.99	44,924.32	212,576.93	46,883.09	/	/	19,984.29	/	55,609.64

Otherinformation:

□Applicable√Notapplicable

ii.Detailsofraisedfundsinvestedprojects

√Applicable□Notapplicable

1.Useofraisedfunds

√Applicable□Notapplicable

Unit:RMB’0,000

Sourceofraisedfunds

Projectname

Projectnature

Whetheracommitted

Re-purposedornot

Totalplannedinvest

Investmentamountinthe

Cumulativeamountofraised

Cumulativeinvestment

Datewhentheproject

Projectconcluded

Whetherinvestment

Specificreasonsforinvestm

Earningintheperiod

CumulativeearningsorR&Dresults

Significantchangein

Remainingamount

/

investmentprojectintheprospectusorofferingstatement

mentamountofraisedfunds(1)

period

fundsinvestedasoftheperiod-end(2)

progressasoftheperiod-end(%)(3)＝(2)/(1)

isreadyforitsintendeduse

ornot

progressmeetstheplan

entprogressnotmeetingtheplan

projectfeasibility

IPOofshares

AutelXi'anNorthwestHeadquartersandR&DCenterConstructionProject

R&D

Yes

Yes,cancelled

-

-

-

-

Notapplicable

Yes

Yes

Notapplicable

Notapplicable

Notapplicable

No

Notapplicable

IPOofshares

AutelXi'anR&DCenterConstructionProject

R&D

No

Yes,newproject

21,496.06

-

24,067.81

111.96

2023

Yes

Yes

Notapplicable

Notapplicable

Buildingontraditionaladvanceddiagnosticanalysissystems,AutelhasconductedintelligentmaintenanceITR&Dtostrengthendigitalandintelligentdiagnostics.

No

Notapplicable

IPOofshares

AutelNewEnergyProductDevelopmentProject

R&D

No

Yes,newproject

21,344.20

-

21,389.32

100.21

2023

Yes

Yes

Notapplicable

Notapplicable

Relyingontherapiddevelopmentofthenewenergyvehiclemarket,andcombiningtheEVmaintenancetoolchain,Autelhascreatedacompleteecosystemfornewenergy,providingproductsandservicesrelatedtonewenergycharginganddischarging

No

Notapplicable

/

systems.

IPOofshares

AutomobileIntelligentDiagnosisCloudServicePlatformConstructionProject

R&D

Yes

No

9,390.98

-

9,776.47

104.10

March2022

Yes

Yes

Notapplicable

Notapplicable

Theproductsareprimarilybasedonanefficientcloudserviceplatformarchitecture.Wehavedevelopedadigitalandintelligentdatabaseformaintenanceinformationandcases,acloudexpertservicesystem,areportmanagementsystem,andAI-basedintelligentvehicledamageidentification.Thisenablesintelligentmaintenancescenariosandfull-processcoverageanddeepapplications,offeringcustomerseasy-to-use,low-switching-costintelligentmaintenancesolutions.Thehighlyintegratedmaintenanceandsupplementapproachenhancestheoverallefficiencyofcustomermaintenanceandsupplement.

No

Notapplicable

IPOofshares

NewEnergyCharging

R&D

No

Yes,new

12,769.38

12,078.56

12,078.56

94.59

2025

No

Yes

Notapplicab

Notapplic

Notapplicable

No

Notappli

/

InfrastructureR&DProject

project

le

able

cable

IPOofshares

Permanentreplenishmentofworkingcapital

Replenishmentofworkingcapitalandloanrepayment

Yes

No

44,924.32

345.75

46,883.09

104.36

Notapplicable

Yes

Yes

Notapplicable

Notapplicable

Notapplicable

No

Notapplicable

Convertiblebonds

AutelR&DCenterConstructionandNewGenerationIntelligentMaintenanceandNewEnergyComprehensiveSolutionR&DProject

R&D

Yes

No

90,000.00

7,438.39

62,072.72

68.97

2025

No

Yes

Notapplicable

Notapplicable

Notapplicable

No

Notapplicable

Convertiblebonds

Replenishmentofworkingcapital

Replenishmentofworkingcapitalandloanrepayment

Yes

No

36,187.37

121.59

36,308.96

100.34

Notapplicable

Yes

Yes

Notapplicable

Notapplicable

Notapplicable

No

Notapplicable

Total

/

/

/

/

236,112.31

19,984.29

212,576.93

/

/

/

/

/

/

/

/

/

2.Useofover-subscribedfunds

/

√Applicable□Notapplicable

Unit:RMB’0,000

Purpose	Nature	Totalamountofoversubscribedfundstobeinvested(1)	Cumulativeamountofover-subscribedfundsinvestedasoftheperiod-end(2)	Cumulativeinvestmentprogressasoftheperiod-end(%)(3)＝(2)/(1)	Remark
Permanentreplenishmentofworkingcapital	Replenishmentofworkingcapitalandloanrepayment	44,924.32	46,883.09	104.36	Theportionexceedingthetotalamountofcommittedinvestmentofraisedfundsisinterestincome
Total	/	44,924.32	46,883.09	/	/

iii.ChangesinorterminationofraisedfundsinvestedprojectsduringtheReportingPeriod

√Applicable□Notapplicable

Unit:RMB’0,000

Projectbefore	Timeofchange(firstannouncementdisclosuretime)	Typeofchange	Totalraisedfundstobeinvestedbeforechange/termination	Totalraisedfundsinvestedbeforechange/termination	Projectafter	Reasonforchange/termination	Raisedfundsusedtoreplenishworkingcapitalafterchange/termination	Decision-makingprocessandinformationdisclosed
AutelXi’anR&DCenterConstructionProject	January9,2024	Reductionoftheraisedfundstobeinvested	34,265.44	24,067.81	AutelNewEnergyChargingInfrastructureR&DProject	Theoriginalprojecthasachievedthepredeterminedgoalsandtheremainingfundswouldbeinvestedinthenewproject.	-	ThismatterwasreviewedandapprovedattheSeventhMeetingoftheFourthBoardofDirectors,theFourthMeetingoftheFourthSupervisoryCommittee,andtheFirstExtraordinaryGeneralMeetingofShareholdersin2024.Forfurtherinformation,pleaserefertotheAnnouncementonChangingandConcludingCertainInvestmentProjectwithFundsRaisedintheIPOandUsingtheRemainingRaisedFundstoInvestinNewProject(AnnouncementNo.2024-004).

/

iv.OtheruseoftheraisedfundsduringtheReportingPeriod

1.Earlyinvestmentandreplacementregardingtheinvestmentprojectswiththeraisedfunds

□Applicable√Notapplicable

2.Temporaryreplenishmentofworkingcapitalwiththeidleraisedfunds

□Applicable√Notapplicable

3.Useofidleraisedfundsforcashmanagementandinvestmentinrelevantproducts

□Applicable√Notapplicable

4.Otherinformation

√Applicable□Notapplicable

(1)AsofDecember31,2024,theinvestmentprojectswithfundsraisedinthe2020initialpublicofferingofshares,“AutelXi'anR&DCenterConstructionProject”and“AutelNewEnergyProductDevelopmentProject”,havebeencompleted,andthesurplusfunds(interestincome)ofRMB174,600havebeentransferredtoourbasicaccount,andthecorrespondingspecialaccountforraisedfundshasbeenclosed.

(2)AsofDecember31,2024,theinvestmentprojectwithfundsraisedinthe2022offeringofconvertiblecorporatebonds—“ReplenishmentofWorkingCapitalProject”—hasbeencompleted,andthesurplusfunds(interestincome)ofRMB1.2159millionhavebeentransferredtoourbasic/ordinaryaccount,andthecorrespondingspecialaccountforraisedfundshasbeenclosed.XVOtherSignificantEventsforInvestors’JudgmentofValueandInvestmentDecision-making

□Applicable√Notapplicable

/

PartVIIShareChangesandShareholderInformationIShareChangesi.Sharechanges

1.Sharechanges

Unit:share

	Before		Increase/decreaseintheperiod(+/-)					After
	Number	As%oftotalshares	Newissue	Bonusissuefromprofit	Bonusissuefromcapitalreserves	Other	Subtotal	Number	As%oftotalshares
IRestrictedshares	-	-	-	-	-	-	-	-	-
IIUnrestrictedshares	451,877,086	100.00	942	-	-	-	942	451,878,028	100.00
1.RMB-denominatedordinaryshares	451,877,086	100.00	942	-	-	-	942	451,878,028	100.00
2.Domesticallylistedforeignshares	-	-	-	-	-	-	-	-	-
3.Overseaslistedforeignshares	-	-	-	-	-	-	-	-	-
4.Others	-	-	-	-	-	-	-	-	-
IIITotalshares	451,877,086	100.00	942	-	-	-	942	451,878,028	100.00

2.Notestosharechanges

√Applicable□NotapplicableThe“AutelConvertibleCorporateBond”issuedbytheCompanytounspecifiedobjectsbegantobeconvertedintosharesonJanuary16,2023.AsofDecember31,2024,atotalofRMB290,000of“AutelConvertibleCorporateBond”hadbeenconvertedinto8,353sharescompanyshares,accountingfor0.0018%ofthetotalnumberofsharesissuedbytheCompanybeforetheconversionof“AutelConvertibleCorporateBond”.Amongthem,fromJanuary1,2024toDecember31,2024,atotalofRMB32,000of“AutelConvertibleCorporateBond”wasconvertedinto942companyshares.

/

3.Impactofsharechangesonfinancialindicatorssuchasearningspershareandnetassetvaluepershareforthemostrecentyearandthemostrecentperiod(ifany)

√Applicable□NotapplicableDuringtheReportingPeriod,atotalofRMB32,000of“AutelConvertibleCorporateBond”wasconvertedinto942companyshares,andtheCompany’ssharecapitalhaschangedfrom451,877,086sharesto451,878,028shares.Undertheconditionthatthenetprofitattributabletothelistedcompany’sshareholdersremainsunchanged,theCompany’sbasicearningspersharein2024wouldbedilutedaccordingly,whichwouldnothaveasignificantimpactontheCompany’slatestfinancialpositionandoperatingresults.

4.Otherinformationnecessarytobedisclosedorrequiredtobedisclosed

□Applicable√Notapplicableii.Changesinrestrictedshares

□Applicable√NotapplicableIIIssuanceandListingofSecuritiesi.SecuritiesissuedduringtheReportingPeriod

√Applicable□Notapplicable

Unit:ShareCurrency:RMB

Classofstockanditsderivativesecurities	Issuedate	Issueprice(orinterestrate)	Numberofsharesissued	Listingdate	Numberofsharesallowedforpublictrading	Finaltradingdate
Convertiblecorporatebonds	July14,2022	RMB100/bond	12,800,000bonds	July28,2022	12,800,000bonds	July7,2028

NotestosecuritiesissuedduringtheReportingPeriod(forbondswithdifferentinterestratesoverthelifetime,pleasespecifyseparately):

□Applicable√Notapplicableii.ChangesinTotalSharesandShareholderStructure,aswellasinAssetandLiabilityStructures

√Applicable□Notapplicable

/

The“AutelConvertibleCorporateBond”issuedbytheCompanytounspecifiedobjectsbegantobeconvertedintosharesonJanuary16,2023.AsofDecember31,2024,atotalofRMB290,000of“AutelConvertibleCorporateBond”hadbeenconvertedinto8,353sharescompanyshares,accountingfor0.0018%ofthetotalnumberofsharesissuedbytheCompanybeforetheconversionof“AutelConvertibleCorporateBond”.Amongthem,fromJanuary1,2024toDecember31,2024,atotalofRMB32,000of“AutelConvertibleCorporateBond”wasconvertedinto942companyshares.IIIShareholdersandActualControlleri.Totalnumberofshareholders

Numberofordinaryshareholdersattheperiod-end	18,828
Numberofordinaryshareholdersatthemonth-endpriortothedisclosureofthisReport	22,447
Numberofpreferenceshareholderswithresumedvotingrightsattheperiod-end	-
Numberofpreferenceshareholderswithresumedvotingrightsatthemonth-endpriortothedisclosureofthisReport	-
Numberofshareholderswithspecialvotingrightsattheperiod-end	-
Numberofshareholderswithspecialvotingrightsatthemonth-endpriortothedisclosureofthisReport	-

Numberofdepositaryreceiptholders:

□Applicable√Notapplicableii.Top10shareholdersandpublicshareholders(orunrestrictedshareholders)attheperiod-end

Unit:share

Top10shareholders(exclusiveofshareslentinrefinancing)
Fullnameofshareholder	Shareholdingincrease/decreaseintheReportingPeriod	Closingshareholding	Shareholdingpercentage(%)	Restrictedsharesheld	Sharesinpledge,markedorfrozen		Natureofshareholder
					Status	Shares
LiHongjing	-	168,491,606	37.29	-	N/A	-	Domesticindividual
HongKongSecuritiesClearingCompanyLimited	11,304,601	15,678,119	3.47	-	N/A	-	Overseascorporation
LiHong	-1,582,572	14,238,728	3.15	-	N/A	-	Domesticindividual

/

ShenzhenNanshanHongtaiEquityInvestmentFundLimitedPartnership	-5,817,878	8,736,981	1.93	-	N/A	-	Domesticnon-state-ownedcorporation
ChinaUniversalAssetManagementCo.,Ltd.－SocialSecurityFundPortfolio17022	-405,741	6,276,144	1.39	-	N/A	-	Other
DaziLavaInvestmentManagementCo.,Ltd－PingtanLavaNewStrategyEquityInvestmentPartnership(L.P.)	-271,300	5,773,888	1.28	-	N/A	-	Other
XuanYuanInvestmentLimited－XuanYuanKeXinPrivateEquityFundNo.46	-146	5,273,554	1.17	-	N/A	-	Other
IndustrialandCommercialBankofChinaLimited－QianhaiKaiyuanNewEconomicsDynamicAssetAllocationMixedTypeSecuritiesInvestmentFund	2,113,972	4,018,290	0.89	-	N/A	-	Other
ShanghaiSouthLandAssetManagementCo.,Ltd.－WotuPrivateEquityFundNo.1	3,692,616	3,692,616	0.82	-	N/A	-	Other
WuHongbin	278,142	3,563,942	0.79	-	N/A	-	Domesticindividual
Top10unrestrictedshareholders(exclusiveofshareslentinrefinancing)
Nameofshareholder			Unrestrictedpublicsharesheld			Classandnumberofshares
						Class		Number
LiHongjing			168,491,606			RMB-denominatedordinarystock		168,491,606
HongKongSecuritiesClearingCompanyLimited			15,678,119			RMB-denominatedordinarystock		15,678,119
LiHong			14,238,728			RMB-denominatedordinarystock		14,238,728
ShenzhenNanshanHongtaiEquityInvestmentFundLimitedPartnership			8,736,981			RMB-denominatedordinarystock		8,736,981
ChinaUniversalAssetManagementCo.,Ltd.－SocialSecurityFundPortfolio17022			6,276,144			RMB-denominatedordinarystock		6,276,144
DaziLavaInvestmentManagementCo.,Ltd－PingtanLavaNewStrategyEquityInvestmentPartnership(L.P.)			5,773,888			RMB-denominatedordinarystock		5,773,888

/

XuanYuanInvestmentLimited－XuanYuanKeXinPrivateEquityFundNo.46	5,273,554	RMB-denominatedordinarystock	5,273,554
IndustrialandCommercialBankofChinaLimited－QianhaiKaiyuanNewEconomicsDynamicAssetAllocationMixedTypeSecuritiesInvestmentFund	4,018,290	RMB-denominatedordinarystock	4,018,290
ShanghaiSouthLandAssetManagementCo.,Ltd.－WotuPrivateEquityFundNo.1	3,692,616	RMB-denominatedordinarystock	3,692,616
WuHongbin	3,563,942	RMB-denominatedordinarystock	3,563,942
Accountofrepurchasedsharesamongthetop10shareholders	Therewere10,981,382sharesintheCompany’saccountofrepurchasedshares,accountingfor2.43%ofthetotalsharecapital.
Shareholdersaboveentrusting/entrustedwithorwaivingvotingrights	N/A
Relatedoracting-in-concertpartiesamongshareholdersabove	TheCompanyisnotawareofanyotherrelatedpartiesoracting-in-concertpartiesamongtheunrestrictedshareholdersabove.
Preferenceshareholderswithresumedvotingrightsandtheirshareholdings	N/A

5%orgreatershareholders,top10shareholdersandtop10unrestrictedshareholdersinvolvedinrefinancingshareslending:

□Applicable√NotapplicableChangesintop10shareholdersandtop10unrestrictedshareholderscomparedwiththepriorperiodduetorefinancingshareslending/returning:

□Applicable√NotapplicableShareholdingsofthetop10restrictedshareholdersandtherestrictions:

□Applicable√NotapplicableTop10domesticdepositaryreceiptholdersasoftheperiod-end:

□Applicable√Notapplicable5%orgreaterdepositaryreceiptholders,top10depositaryreceiptholdersandtop10unrestricteddepositaryreceiptholdersinvolvedinrefinancingshareslending:

□Applicable√Notapplicable

/

Changesintop10depositaryreceiptholdersandtop10unrestricteddepositaryreceiptholderscomparedwiththepriorperiodduetorefinancingshareslending/returning:

□Applicable√NotapplicableShareholdingsofthetop10restricteddepositaryreceiptholdersandtherestrictions:

□Applicable√Notapplicableiii.Top10shareholderswithvotingrightsasoftheperiod-end

□Applicable√Notapplicableiv.Indicatewhetheranystrategicinvestororgeneralcorporationhasbecomeatop-10shareholderinarightsissueofsharesordepositoryreceipts.

□Applicable√Notapplicablev.StrategicrightsissueintheIPO

1.SeniorexecutivesandkeyemployeesinthestrategicrightsissueintheIPOthroughspecialassetmanagementplans

□Applicable√Notapplicable

2.SubsidiariesofthesponsorinthestrategicrightsissueintheIPO

□Applicable√NotapplicableIVControllingShareholderandActualControlleri.Controllingshareholder

1.Corporation

□Applicable√Notapplicable

2.Individual

√Applicable□Notapplicable

Name	LiHongjing
Nationality	China
Residencyinothercountriesorregions(yes/no)	No
Mainoccupationsandpositions	ChairmanoftheBoardandGeneralManager

/

3.SpecialstatementregardingthefactthattheCompanydoesnothaveacontrolling

shareholder

□Applicable√Notapplicable

4.ChangeofthecontrollingshareholderintheReportingPeriod

□Applicable√Notapplicable

5.Illustrationofthecontrollingshareholder’sownershipintheCompany

√Applicable□Notapplicable

Note:AsofDecember31,2024,HainingJiahuiheld289,091sharesintheCompany,accountingfor0.06%oftheCompany’stotalsharecapital,andallofthesesharesbelongedtoLiHongjing.ii.Actualcontroller

1.Corporation

□Applicable√Notapplicable

2.Individual

√Applicable□Notapplicable

Name	LiHongjing
Nationality	China
Residencyinothercountriesorregions(yes/no)	No
Mainoccupationsandpositions	ChairmanoftheBoardandGeneralManager

LiHongjing

LiHongjingHainingJiahui

HainingJiahui

NingboHuishun

Autel

AutelNote

/

Controllinginterestsinotherdomesticallyandoverseaslistedcompaniesinthepast10years

None

3.SpecialstatementregardingthefactthattheCompanydoesnothaveanactualcontroller.

□Applicable√Notapplicable

4.ChangeoftheactualcontrollerintheReportingPeriod

□Applicable√Notapplicable

5.Illustrationoftheactualcontroller’sownershipintheCompany

√Applicable□Notapplicable

Note:AsofDecember31,2024,HainingJiahuiheld289,091sharesintheCompany,accountingfor0.06%oftheCompany’stotalsharecapital,andallofthesesharesbelongedtoLiHongjing.

6.IndicatewhethertheactualcontrollercontrolstheCompanyviatrustorotherwaysofassetmanagement.

□Applicable√Notapplicableiii.Otherinformationaboutthecontrollingshareholderandtheactualcontroller

□Applicable√Notapplicable

LiHongjingHainingJiahui

HainingJiahui

NingboHuishun

Autel

AutelNote

/

VIndicatewhetherthecumulativenumberofsharesputinpledgebytheCompany’scontrollingshareholderorthelargestshareholderanditsacting-in-concertpartiesaccountsforover80%oftheirshareholdingsintheCompany.

□Applicable√NotapplicableVIOther10%orGreaterCorporateShareholders

□Applicable√NotapplicableVIIRestrictionsonShareholdingorDepositoryReceiptHoldingReduction

□Applicable√NotapplicableVIIIShareRepurchasesduringtheReportingPeriod

√Applicable□Notapplicable

Unit:RMB

Nameofthesharerepurchaseplan	PlanforShareRepurchaseontheOpenMarket
Dateofthedisclosureofthesharerepurchaseplan	December19,2023
Numberofsharestoberepurchasedandthatas%ofthetotalsharecapital	2,432,498-4,864,996shares,accountingfor0.54%-1.08%ofthethensharecapital
Amounttobeusedforthesharerepurchase	RMB100-200million
Plannedrepurchaseperiod	December18,2023–December17,2024
Purposeoftherepurchasedshares	Tobeusedentirelyforemployeestockownershipplansorequityincentivesatanappropriatetimeinthefuture
Numberofsharesthathavebeenrepurchased	7,665,527
Numberofsharesthathavebeenrepurchasedas%ofthetotalunderlyingsharesoftheequityincentiveplan(ifany)	/
Progressonreductionofrepurchasedsharesontheopenmarket	AsofDecember31,2024,theCompanyhasnotreduceditsrepurchasedshares.

/

PartVIIIPreferenceShares

□Applicable√Notapplicable

/

PartIXBondsICorporateBonds(InclusiveofEnterpriseBonds)andDebtFinancingInstrumentsofNon-financialEnterprise

□Applicable√NotapplicableIIConvertibleCorporateBonds

√Applicable□Notapplicablei.Issuanceofconvertiblecorporatebonds

√Applicable□NotapplicableUponapprovalbythe“CSRCPermit[2022]No.852”,theCompanyissued12,800,000convertiblecorporatebondstounspecifiedobjectsonJuly14,2022,withaparvalueofRMB100perbondandatotalofferingamountofRMB1,280million.ThesaidconvertiblecorporatebondswerepreferentiallyplacedtotheshareholdersregisteredwiththeShanghaibranchofChinaSecuritiesDepositoryandClearingCorporationLimitedafterthecloseoftherecorddate(July7,2022,T-1day).Theremainingportion(includingtheportionwaivedbytheaforesaidshareholders)wasissuedbywayofonlinepricingthroughtheShanghaiStockExchange’stradingsystem.TheleadunderwriterwouldcarryoutstandbyunderwritingifthesubscriptionwaslessthanRMB1,280million.

WiththeapprovaloftheShanghaiStockExchange’s“Self-regulatoryDecision[2022]No.201”,theCompany’sRMB1,280millionconvertiblecorporatebondswerelistedfortradingontheShanghaiStockExchangefromJuly28,2022.Thebondisreferredtoas“AutelConvertibleCorporateBond”andthebondcodeis“118013”.ii.Holdersandguarantorsofconvertiblecorporatebondsattheperiod-end

√Applicable□Notapplicable

Nameofconvertiblecorporatebonds	AutelConvertibleCorporateBond
Numberofholdersofconvertiblecorporatebondsattheperiod-end	5,863
Guarantorsofconvertiblecorporatebonds	None
Top10holdersofconvertiblecorporatebonds:
Nameofholder	Bond-holdingattheperiod-end(RMB)	Bond-holdingpercentage(%)
NorthwestInvestmentManagement(HongKong)Limited－NorthwestFeilongFundCo.,Ltd.	65,000,000	5.08
ChinaMerchantsBankCompanyLimited－BoseraChinaSecuritiesConvertibleBondand	57,470,000	4.49

/

ExchangeableBondTradingOpen-endedIndexFund
IndustrialandCommercialBankofChinaLimited－ChinaSouthernExcellentReturnBondFund	45,513,000	3.56
IndustrialandCommercialBankofChinaLimited－GoldenEagleYuanfengBondFund	42,845,000	3.35
AgriculturalBankofChinaLimited－ChinaSouthernXiyuanConvertibleBondFund	29,355,000	2.29
ChinaGalaxySecuritiesCo.Ltd.	26,937,000	2.10
AgriculturalBankofChinaLimited－PenghuaConvertibleBondFund	23,828,000	1.86
ChinaConstructionBankCorporationLimited－HuashangCreditEnhancedBondFund	23,187,000	1.81
ChinaLifeEndowmentAnxiangXinqiMixedTypePensionProduct－IndustrialandCommercialBankofChinaLimited	20,500,000	1.60
IndustrialandCommercialBankofChinaLimited－LombardaChinaConvertibleBondFund	20,258,000	1.58

iii.ChangesinconvertiblecorporatebondsduringtheReportingPeriod

√Applicable□Notapplicable

Unit:RMB

Nameofconvertiblecorporatebond	Before	Change			After
		Convertedtoshares	Redeemed	Resold
AutelConvertibleCorporateBond	1,279,742,000	32,000	-	-	1,279,710,000

TotalsharesconvertedfromconvertiblecorporatebondsduringtheReportingPeriod:

√Applicable□Notapplicable

Nameofconvertiblecorporatebond	AutelConvertibleCorporateBond
Amountofconvertedsharesduringtheperiod(RMB)	32,000
Numberofconvertedsharesduringtheperiod(share)	942
Cumulativenumberofconvertedshares(share)	8,353
Cumulativenumberofconvertedsharesas%oftheCompany’stotalissuedsharesbeforetheconversion	0.0018
Amountofunconvertedshares(RMB)	1,279,710,000
Unconvertedsharesas%ofthetotalconvertiblecorporatebondsissued	99.9773

iv.Adjustmentstobond-to-stockconversionprice

√Applicable□Notapplicable

/

Unit:RMB

Nameofconvertiblecorporatebond		AutelConvertibleCorporateBond
Dateofadjustment	Adjustedprice	Dateofdisclosure	Mediafordisclosure	Note
August16,2023	34.71	August15,2023	ThewebsiteoftheShanghaiStockExchange(www.sse.com.cn),ChinaSecuritiesJournal,ShanghaiSecuritiesNews,SecuritiesTimes,andSecuritiesDaily	TheCompanycompletedtheshareregistrationproceduresforthesecondvestingperiodofthefirstgrantandthefirstvestingperiodofthereservedrestrictedsharesofthe2020RestrictedShareIncentivePlan.
May20,2024	34.32	May13,2024	ThewebsiteoftheShanghaiStockExchange(www.sse.com.cn),ChinaSecuritiesJournal,ShanghaiSecuritiesNews,SecuritiesTimes,andSecuritiesDaily	TheCompanycarriedoutthe2023finaldividendpayout.
September9,2024	33.93	September3,2024	ThewebsiteoftheShanghaiStockExchange(www.sse.com.cn),ChinaSecuritiesJournal,ShanghaiSecuritiesNews,SecuritiesTimes,andSecuritiesDaily	TheCompanycarriedoutthe2024interimdividendpayout.
Latestconversionpriceasoftheperiod-end		33.93

v.TheCompany’sliabilities,creditstatuschangesandcasharrangementsfordebtrepaymentinfutureyears

√Applicable□Notapplicable

1.LiabilitiesAsoftheendoftheReportingPeriod,theCompany’stotalassetswereRMB6,307,590,501.10,totalliabilitieswereRMB2,884,826,080.53,andthedebt/assetratiowas45.74%.

2.CreditstatuschangesAccordingtothe2024TrackingRatingReportontheConvertibleCorporateBondsOfferedin2022toUnspecifiedObjectsbyAutelIntelligentTechnologyCorp.,Ltd.(ZhongpengCreditRating[2024]TrackingNo.[158]01)issuedbyCSCIPengyuanCreditRatingCo.,Ltd.onJune20,2024,theCompany’scorporatecreditratingwasAA,andthe

/

creditratingof“AutelConvertibleCorporateBond”wasmaintainedatAA,withastableratingoutlook.

3.CasharrangementsfordebtrepaymentinfutureyearsInthefuture,thefundsfortheCompanytopaytheprincipalandinterestoftheconvertiblecorporatebondswillmainlycomefromthecashflowgeneratedfromitsproductionandoperatingactivities.TheCompany’soperationsarestable,itsdebtrepaymentabilityisgood,andthereisnodefaultrisk.vi.Otherinformation

√Applicable□Notapplicable

1.OnJuly8,2024,theCompanypaidtheinterestof“AutelConvertibleCorporateBond”fortheperiodfromJuly8,2023toJuly7,2024,withacouponrateof0.50%(taxinclusive).Thatis,theinterestpaymentamountforeachlotof“AutelConvertibleCorporateBond”(parvalue:RMB1,000)wasRMB5(taxinclusive).Forfurtherinformation,pleaserefertotheAnnouncementontheInterestPaymentofConvertibleCorporateBondsin2024”(AnnouncementNo.:2024-054),whichhasbeendisclosedbytheCompanyonthewebsiteoftheShanghaiStockExchange(www.sse.com.cn)onJuly1,2024.

2.AsofMarch8,2024,theCompany’sstockpricehadtriggeredthedownwardadjustmentclauseoftheconversionpriceof“AutelConvertibleCorporateBond”.UponreviewandapprovalattheEighthMeetingoftheFourthBoardofDirectors,theBoarddecidednottoadjusttheconversionpricedownwardthistime,andinthenextsixmonths(fromMarch9,2024toSeptember8,2024),ifthedownwardadjustmentclauseoftheconversionpriceof“AutelConvertibleCorporateBond”istriggeredagain,nodownwardadjustmentplanwillbeproposed.

/

PartXFinancialStatements

IIndependentAuditor’sReport

√Applicable□NotapplicableIOpinionWehaveauditedthefinancialstatementsofAutelIntelligentTechnologyCorp.,Ltd.(“Autel”orthe“Company”),whichcomprisetheconsolidatedandparentcompanybalancesheetsasatDecember31,2024,theconsolidatedandparentcompanystatementsofincome,cashflowsandchangesinowners’equityfortheyearthenended,aswellasthenotestothefinancialstatements.Inouropinion,thefinancialstatementsreferredtoabovepresentfairly,inallmaterialrespects,theconsolidatedandparentcompanyfinancialpositionoftheCompanyatDecember31,2024,andtheconsolidatedandparentcompanyoperatingresultsandcashflowsfortheyearthenended,inconformitywiththeChineseAccountingStandards(CAS).

IIBasisforOpinionWeconductedourauditsinaccordancewiththeAuditStandardsforChineseRegisteredAccountants.OurresponsibilitiesunderthosestandardsarefurtherdescribedintheAuditor’sResponsibilitiesforAuditofFinancialStatementssectionofourreport.WeareindependentoftheCompanyinaccordancewiththeChinaCodeofEthicsforCertifiedPublicAccountants,andwehavefulfilledourotherethicalresponsibilitiesinaccordancewiththesaidCodeofEthics.Webelievethattheauditevidencewehaveobtainedissufficientandappropriatetoprovideabasisforouropinion.

IIIKeyAuditMattersKeyauditmattersaremattersthat,basedonourprofessionaljudgment,aredeemedmostimportanttotheauditofthefinancialstatementsofthecurrentperiod.Thesematterswereaddressedinthecontextofourauditofthefinancialstatementsasawhole,andinformingouropinionthereon,andwedonotprovideaseparateopiniononthesematters.i.Revenuerecognition

1.Descriptionofthematter

/

Fortherelevantinformationdisclosure,pleaserefertoNotesV(33)andVII(61)ofthefinancialstatements.TherevenueofAutelprimarilycomesfromthesalesofautomotiveadvanceddiagnosticproducts,TPMSproducts,ADASproducts,automotiveelectroniccomponents,andnewenergychargers,aswellassoftwarecloudservicesrelatedtotheseproducts.AutelreportedoperatingrevenueofRMB3,932.2564millionin2024,withrevenuefromprincipaloperationsamountingtoRMB3,884.9745million,accountingfor98.80%ofthetotaloperatingrevenue.

AsoperatingrevenueisoneofthekeyperformanceindicatorsforAutel,thereisaninherentriskthatAutel’smanagement(hereinafterreferredtoasthe“management”)mayengageinimproperrevenuerecognitiontomeetspecificgoalsorexpectations.Therefore,wehaveidentifiedrevenuerecognitionasakeyauditmatter.

2.Auditresponse

(1)Thekeyinternalcontrolsrelatedtorevenuerecognitionwereunderstood,andthedesignofthesecontrolswasevaluatedtodeterminewhethertheyhavebeenimplemented.Additionally,theoperatingeffectivenessoftherelevantinternalcontrolswastested.

(2)Salescontractswerecheckedtolearnaboutthemainclausesorconditions,andevaluatetheappropriatenessoftherevenuerecognitionmethod.

(3)Analyticalproceduresonrevenueandgrossprofitmarginwereimplementedbymonth,product,andcustomertoidentifyanysignificantorunusualfluctuationsandinvestigatethecausesofthesefluctuations.

(4)Fordomesticsalesrevenue,itemswereselectedtocheckthesupportingdocumentsrelatedtorevenuerecognition,includingdistributorcontracts,orders,deliverynotes,andtransportationdocuments.Forexportrevenue,electronicportinformationandbookrecordreconciliationwereobtained.Meanwhile,itemswereselectedtocheckthesupportingdocumentssuchassalesorders,exportcustomsdeclarations,billsoflading,andsalesinvoices.Forrevenuefromforeignsubsidiaries,itemswereselectedtocheckthesupportingdocumentsrelatedtorevenuerecognition,includingsalescontracts,orders,invoices,transportationdocuments,andlogisticsreceiptrecords.Forsoftwarecloudservicerevenue,itemswereselectedtocheckthesupportingdocumentsrelatedtorevenuerecognition,includingsoftwareupgradetransactionsandcollectionrecords,aswellasbackendactivationdetails.

/

(5)Incombinationofconfirmationrequestsforaccountsreceivable,itemswereselectedtoconfirmthesalesamountforthecurrentperiodwithmajorcustomers.

(6)Cutofftestswerecheckedtoensurerevenuewasrecognizedintheappropriateperiod.

(7)Post-balancesheetsalesreturnrecordswereobtainedtocheckwhethertherewereanycaseswheretherevenuerecognitionconditionswerenotmetasofthebalancesheetdate.

(8)Itwascheckedwhethertheinformationrelatedtooperatingrevenuehasbeenappropriatelydisclosedinthefinancialstatements.

ii.Netrealizablevalueofinventories

1.Descriptionofthematter

Fortherelevantinformationdisclosure,pleaserefertoNotesV(16)andVII(10)ofthefinancialstatements.

AsofDecember31,2024,AutelreportedinventorieswithagrossamountofRMB1,319.1707million,afteraccountingforimpairmentprovisionsofRMB168.0353million,resultinginacarryingamountofRMB1,151.1354million.

Inventoriesweremeasuredsubjecttocostandnetrealizablevalue,whicheverislower.Themanagementdeterminedthenetrealizablevaluebyestimatingthesellingpricelesstheestimatedcostsuponcompletion,estimatedsellingexpenses,andrelatedtaxes.Astheinventoryamountwassignificant,anddeterminingthenetrealizablevalueofinventoriesinvolvedsignificantmanagementjudgment,wehaveidentifiedthenetrealizablevalueofinventoriesasakeyauditmatter.

2.Auditresponse

Theauditproceduresthatwererelatedtothenetrealizablevalueofinventoriesandimplementedincluded:

(1)Thekeyinternalcontrolsrelatedtothenetrealizablevalueofinventorieswereunderstoodtoevaluatethedesignofthesecontrols,anddeterminewhethertheyhadbeenimplemented.Additionally,theoperatingeffectivenessoftherelevantinternalcontrolswastested.

(2)Itemswereselectedtoevaluatethereasonablenessofestimatedsellingprices,anditwasreviewedwhethertheestimatedsellingpriceswereconsistentwithhistoricaldata,subsequentevents,andmarketinformation.

/

(3)Thereasonablenessofthemanagement’sestimatesofcostsofinventoriesuponcompletion,sellingexpenses,andrelatedtaxeswasevaluated.

(4)Theaccuracyofthemanagement’scalculationsofthenetrealizablevalueofinventorieswastested.

(5)Incombinationofinventorymonitoringandcheck,itwascheckedwhetherthereweresuchcircumstancesasinventoryaging,modelobsolescence,reducedproduction,orchangesintechnologicalormarketdemandattheendoftheperiod,soastoevaluatethereasonablenessofthemanagement’sestimatesregardingthenetrealizablevalueofinventories.

(6)Itwascheckedwhethertheinformationrelatedtothenetrealizablevalueofinventorieshadbeenappropriatelydisclosedinthefinancialstatements.

IVOtherInformation

TheCompany’smanagementisresponsiblefortheotherinformation.TheotherinformationcomprisesalloftheinformationincludedintheCompany’sAnnualReportotherthanthefinancialstatementsandourauditor’sreportthereon.

Ouropiniononthefinancialstatementsdoesnotcovertheotherinformationandwedonotexpressanyformofassuranceconclusionthereon.

Inconnectionwithourauditofthefinancialstatements,ourresponsibilityistoreadtheotherinformationand,indoingso,considerwhethertheotherinformationismateriallyinconsistentwiththefinancialstatementsorourknowledgeobtainedintheauditorotherwiseappearstobemateriallymisstated.

If,basedontheworkwehaveperformed,weconcludethatthereisamaterialmisstatementofthisotherinformation,wearerequiredtoreportthatfact.Wehavenothingtoreportinthisregard.

VResponsibilitiesofManagementandThoseChargedwithGovernanceforFinancialStatements

TheCompany’smanagementisresponsibleforthepreparationofthefinancialstatementsthatgiveafairviewinaccordancewithCAS,andfordesigning,implementingandmaintainingsuchinternalcontrolasthemanagementdeterminesisnecessarytoenablethepreparationoffinancialstatementsthatarefreefrommaterialmisstatement,whetherduetofraudorerror.

/

Inpreparingthefinancialstatements,themanagementisresponsibleforassessingtheCompany’sabilitytocontinueasagoingconcern,disclosing,asapplicable,mattersrelatedtogoingconcern(ifapplicable)andusingthegoingconcernbasisofaccountingunlessthemanagementeitherintendstoliquidatetheCompanyortoceaseoperations,orhavenorealisticalternativebuttodoso.

ThosechargedwithgovernanceareresponsibleforoverseeingtheCompany’sfinancialreportingprocess.

VIAuditor’sResponsibilitiesforAuditofFinancialStatements

Ourobjectivesaretoobtainreasonableassuranceaboutwhetherthefinancialstatementsasawholearefreefrommaterialmisstatement,whetherduetofraudorerror,andtoissueanauditor’sreportthatincludesouropinion.Reasonableassuranceisahighlevelofassurance,butisnotaguaranteethatanauditconductedinaccordancewithCASwillalwaysdetectamaterialmisstatementwhenitexists.Misstatementscanarisefromfraudorerrorandareconsideredmaterialif,individuallyorintheaggregate,theycouldreasonablybeexpectedtoinfluencetheeconomicdecisionsofuserstakenonthebasisofthesefinancialstatements.

AspartofanauditinaccordancewithCAS,weexerciseprofessionaljudgmentandmaintainprofessionalskepticismthroughouttheaudit.Wealso:

i.Identifyandassesstherisksofmaterialmisstatementofthefinancialstatements,whetherduetofraudorerror,designandperformauditproceduresresponsivetothoserisks,andobtainauditevidencethatissufficientandappropriatetoprovideabasisforouropinion.Theriskofnotdetectingamaterialmisstatementresultingfromfraudishigherthanforoneresultingfromerror,asfraudmayinvolvecollusion,forgery,intentionalomissions,misrepresentations,ortheoverrideofinternalcontrol.

ii.Obtainanunderstandingofinternalcontrolrelevanttotheauditinordertodesignauditproceduresthatareappropriateinthecircumstances.

iii.Evaluatetheappropriatenessofaccountingpoliciesusedandthereasonablenessofaccountingestimatesandrelateddisclosuresmadebythemanagement.

iv.Concludeontheappropriatenessofthemanagement’suseofthegoingconcernbasisofaccountingand,basedontheauditevidenceobtained,whetheramaterialuncertaintyexistsrelatedtoeventsorconditionsthatmaycastsignificantdoubtontheCompany’sabilitytocontinueasagoingconcern.Ifweconcludethatamaterial

/

uncertaintyexists,wearerequiredbyCAStodrawusers’attentioninourauditor’sreporttotherelateddisclosuresinthefinancialstatementsor,ifsuchdisclosuresareinadequate,tomodifyouropinion.Ourconclusionsarebasedontheauditevidenceobtaineduptothedateofourauditor’sreport.However,futureeventsorconditionsmaycausetheCompanytoceasetocontinueasagoingconcern.v.Evaluatetheoverallpresentation,structureandcontentofthefinancialstatements,andwhetherthefinancialstatementsrepresenttheunderlyingtransactionsandeventsinamannerthatachievesfairpresentation.vi.ObtainsufficientappropriateauditevidenceregardingthefinancialinformationoftheentitiesorbusinessactivitieswithintheCompanytoexpressanopiniononthefinancialstatements.Weareresponsibleforthedirection,supervisionandperformanceoftheCompanyaudit.Weremainsolelyresponsibleforourauditopinion.Wecommunicatewiththosechargedwithgovernanceregarding,amongothermatters,theplannedscopeandtimingoftheauditandsignificantauditfindings,includinganynoteworthydeficienciesininternalcontrolthatweidentifyduringouraudit.Wealsoprovidethosechargedwithgovernancewithastatementthatwehavecompliedwithrelevantethicalrequirementsregardingindependence,andcommunicatewiththemallrelationshipsandothermattersthatmayreasonablybethoughttobearonourindependence,andwhereapplicable,relatedsafeguards.Fromthematterscommunicatedwiththosechargedwithgovernance,wedeterminethosemattersthatwereofmostsignificanceintheauditofthefinancialstatementsofthecurrentperiodandarethereforethekeyauditmatters.Wedescribethesemattersinourauditor’sreportunlesslaworregulationprecludespublicdisclosureaboutthematterorwhen,inextremelyrarecircumstances,wedeterminethatamattershouldnotbecommunicatedinourreportbecausetheadverseconsequencesofdoingsowouldreasonablybeexpectedtooutweighthepublicinterestbenefitsofsuchcommunication.

/

IIFinancialStatements

ConsolidatedBalanceSheet

December31,2024PreparedbyAutelIntelligentTechnologyCorp.,Ltd.

Unit:RMB

Item	Note	December31,2024	December31,2023
Currentassets:
Monetaryassets	VII（1）	1,828,676,048.69	1,491,130,655.84
Settlementreserve
Loanstootherbanksandfinancialinstitutions
Held-for-tradingfinancialassets
Derivativefinancialassets
Notesreceivable	VII（4）	4,926,365.63	5,583,852.00
Accountsreceivable	VII（5）	866,754,517.65	705,187,726.27
Receivablesfinancing
Prepayments	VII（8）	93,796,808.00	87,242,879.57
Premiumsreceivable
Reinsurancereceivables
Receivablereinsurancecontractreserve
Otherreceivables	VII（9）	62,031,971.26	71,120,922.90
Ofwhich:Interestreceivable
Dividendsreceivable
Financialassetspurchasedunderresaleagreements
Inventories	VII（10）	1,151,135,380.05	1,118,538,058.00
Ofwhich:Dataresources
Contractassets
Assetsheldforsale
Currentportionofnon-currentassets
Othercurrentassets	VII（13）	237,444,024.96	223,340,176.28
Totalcurrentassets		4,244,765,116.24	3,702,144,270.86
Non-currentassets:
Loansandadvancestocustomers
Debtinvestments
Otherdebtinvestments
Long-termreceivables
Long-termequityinvestments	VII（17）	46,871,205.76
Otherequityinvestments
Othernon-currentfinancialassets	VII（19）	7,021,284.08	23,605,977.77
Investmentproperties
Fixedassets	VII（21）	1,249,662,845.70	1,236,185,857.05

/

Constructioninprogress	VII（22）	62,463.31	1,640,730.17
Productivelivingassets
Oilandgasassets
Right-of-useassets	VII（25）	48,029,568.67	63,986,982.17
Intangibleassets	VII（26）	128,941,981.61	132,771,318.31
Ofwhich:Dataresources
Developmentcosts	VIII	55,731,847.87	47,793,893.50
Ofwhich:Dataresources
Goodwill
Long-termprepaidexpense	VII（28）	63,392,893.22	54,135,718.97
Deferredincometaxassets	VII（29）	321,972,220.31	291,742,353.50
Othernon-currentassets	VII（30）	141,139,074.33	22,841,476.22
Totalnon-currentassets		2,062,825,384.86	1,874,704,307.66
Totalassets		6,307,590,501.10	5,576,848,578.52
Currentliabilities:
Short-termborrowings
Borrowingsfromthecentralbank
Loansfromotherbanksandfinancialinstitutions
Held-for-tradingfinancialliabilities
Derivativefinancialliabilities
Notespayable	VII（35）	149,368,685.23
Accountspayable	VII（36）	316,951,128.22	204,255,088.49
Advancesfromcustomers	VII（37）	951,557.22	977,035.28
Contractliabilities	VII（38）	381,714,694.17	312,155,667.15
Financialassetssoldunderrepurchaseagreements
Customerdepositsanddepositsfromotherbanksandfinancialinstitutions
Payablesforactingtradingofsecurities
Payablesforunderwritingofsecurities
Employeebenefitspayable	VII（39）	232,238,663.94	154,154,034.70
Taxesandleviespayable	VII（40）	74,439,587.23	50,687,083.83
Otherpayables	VII（41）	126,102,610.81	241,363,094.35
Ofwhich:Interestpayable
Dividendspayable
Feesandcommissionspayable
Reinsurancepayables
Liabilitiesdirectlyassociatedwithassetsheldforsale
Currentportionofnon-currentliabilities	VII（43）	27,422,917.04	23,971,160.05
Othercurrentliabilities	VII（44）	27,374,527.08	594,036.63
Totalcurrentliabilities		1,336,564,370.94	988,157,200.48
Non-currentliabilities:
Insurancecontractreserve

/

Long-termborrowings
Bondspayable	VII（46）	1,175,814,692.17	1,134,987,458.10
Ofwhich:Preferenceshares
Perpetualbonds
Leaseliabilities	VII（47）	25,115,372.96	43,287,160.21
Long-termpayables
Long-termemployeebenefitspayable
Provisions	VII（50）	26,827,549.50	48,677,391.09
Deferredincome	VII（51）	2,835,419.92	5,118,200.51
Deferredincometaxliabilities	VII（29）	75,689,060.41	75,689,060.41
Othernon-currentliabilities	VII（52）	241,979,614.63	123,469,560.47
Totalnon-currentliabilities		1,548,261,709.59	1,431,228,830.79
Totalliabilities		2,884,826,080.53	2,419,386,031.27
Owners’equity(orshareholders’equity):
Paid-incapital(orsharecapital)	VII（53）	451,878,028.00	451,877,086.00
Otherequityinstruments	VII（54）	192,380,163.16	192,384,973.75
Ofwhich:Preferenceshares
Perpetualbonds
Capitalreserves	VII（55）	1,421,124,989.13	1,297,118,239.93
Less:Treasuryshares	VII（56）	142,933,220.27	100,280,543.07
Othercomprehensiveincome	VII（57）	-28,223,467.84	-950,923.83
Specificreserve
Surplusreserves	VII（59）	186,916,422.41	173,465,094.17
Generalreserve
Retainedearnings	VII（60）	1,476,651,105.27	1,201,893,803.39
Totalequityattributabletoownersoftheparentcompany		3,557,794,019.86	3,215,507,730.34
Non-controllinginterests		-135,029,599.29	-58,045,183.09
Totalowners’equity(orshareholders’equity)		3,422,764,420.57	3,157,462,547.25
Totalliabilitiesandowners’equity(orshareholders’equity)		6,307,590,501.10	5,576,848,578.52

Legalrepresentative:LiHongjingPersoninchargeofaccounting:LiHongjingHeadofthefinancialdepartment:XueWei

/

BalanceSheetoftheParentCompany

December31,2024PreparedbyAutelIntelligentTechnologyCorp.,Ltd.

Unit:RMB

Item	Note	December31,2024	December31,2023
Currentassets:
Monetaryassets		1,112,631,694.31	807,833,355.15
Held-for-tradingfinancialassets
Derivativefinancialassets
Notesreceivable		4,926,365.63	5,583,852.00
Accountsreceivable	XIX（1）	1,008,251,386.40	895,417,189.08
Receivablesfinancing
Prepayments		311,853,424.79	306,312,669.26
Otherreceivables	XIX（2）	1,155,928,917.31	1,125,412,948.04
Ofwhich:Interestreceivable
Dividendsreceivable
Inventories		122,170,387.56	246,758,104.44
Ofwhich:Dataresources
Contractassets
Assetsheldforsale
Currentportionofnon-currentassets
Othercurrentassets		34,256,325.31	54,136,330.31
Totalcurrentassets		3,750,018,501.31	3,441,454,448.28
Non-currentassets:
Debtinvestments
Otherdebtinvestments
Long-termreceivables
Long-termequityinvestments	XIX（3）	1,390,081,403.67	1,505,558,197.54
Otherequityinvestments
Othernon-currentfinancialassets		7,021,284.08	23,605,977.77
Investmentproperties
Fixedassets		193,777,588.89	179,774,132.60
Constructioninprogress			384,000.00
Productivelivingassets
Oilandgasassets
Right-of-useassets		47,473,783.60	74,163,151.80
Intangibleassets		105,313,713.66	49,304,193.05
Ofwhich:Dataresources
Developmentcosts		23,991,430.53	3,144,522.82
Ofwhich:Dataresources
Goodwill
Long-termprepaidexpense		6,016,649.24	33,379,454.43
Deferredincometaxassets		133,436,737.48	150,179,073.40
Othernon-currentassets		128,304,686.03	12,014,175.61
Totalnon-currentassets		2,035,417,277.18	2,031,506,879.02
Totalassets		5,785,435,778.49	5,472,961,327.30

/

Currentliabilities:
Short-termborrowings
Held-for-tradingfinancialliabilities
Derivativefinancialliabilities
Notespayable		149,368,685.23
Accountspayable		1,336,952,851.79	890,687,724.43
Advancesfromcustomers
Contractliabilities		106,410,984.43	52,622,052.57
Employeebenefitspayable		82,166,983.29	36,468,631.19
Taxesandleviespayable		372,897.27	252,908.27
Otherpayables		45,751,385.54	218,251,986.65
Ofwhich:Interestpayable
Dividendspayable
Liabilitiesdirectlyassociatedwithassetsheldforsale
Currentportionofnon-currentliabilities		26,749,882.02	28,014,622.57
Othercurrentliabilities		18,567,217.71	392,894.97
Totalcurrentliabilities		1,766,340,887.28	1,226,690,820.65
Non-currentliabilities:
Long-termborrowings
Bondspayable		1,175,814,692.17	1,134,987,458.10
Ofwhich:Preferenceshares
Perpetualbonds
Leaseliabilities		77,289,566.23	92,652,767.61
Long-termpayables
Long-termemployeebenefitspayable
Provisions		24,789,450.64	43,488,177.16
Deferredincome		806,414.74	1,587,710.33
Deferredincometaxliabilities
Othernon-currentliabilities		51,559,516.33	58,522,915.71
Totalnon-currentliabilities		1,330,259,640.11	1,331,239,028.91
Totalliabilities		3,096,600,527.39	2,557,929,849.56
Owners’equity(orshareholders’equity):
Paid-incapital(orsharecapital)		451,878,028.00	451,877,086.00
Otherequityinstruments		192,380,163.16	192,384,973.75
Ofwhich:Preferenceshares
Perpetualbonds
Capitalreserves		1,330,253,477.22	1,295,589,877.33
Less:Treasuryshares		142,933,220.27	100,280,543.07
Othercomprehensiveincome
Specificreserve
Surplusreserves		186,916,422.41	173,465,094.17
Retainedearnings		670,340,380.58	901,994,989.56
Totalowners’equity(orshareholders’equity)		2,688,835,251.10	2,915,031,477.74
Totalliabilitiesandowners’equity(orshareholders’equity)		5,785,435,778.49	5,472,961,327.30

/

Legalrepresentative:LiHongjingPersoninchargeofaccounting:LiHongjingHeadofthefinancialdepartment:XueWei

/

ConsolidatedIncomeStatementJanuary-December2024

Unit:RMB

Item	Note	2024	2023
ITotalrevenues		3,932,256,447.46	3,251,152,240.25
Ofwhich:Operatingrevenue	VII（61）	3,932,256,447.46	3,251,152,240.25
Interestincome
Insurancepremiumincome
Feeandcommissionincome
IITotalcostsandexpenses		3,319,421,806.74	2,784,045,905.70
Ofwhich:Costofsales	VII（61）	1,757,168,323.58	1,473,283,201.21
Interestcosts
Feeandcommissioncosts
Surrenders
Netinsuranceclaimspaid
Netamountprovidedasreserveforinsuranceobligations
Expenditureonpolicydividends
Reinsurancepremiumexpense
Taxesandlevies	VII（62）	21,785,105.43	14,906,995.51
Sellingexpense	VII（63）	559,013,309.44	481,305,675.57
Administrativeexpense	VII（64）	323,794,075.80	283,247,804.55
R&Dexpense	VII（65）	635,783,425.06	535,095,824.97
Financecosts	VII（66）	21,877,567.43	-3,793,596.11
Ofwhich:Interestexpense		69,503,846.88	67,128,868.00
Interestincome		26,120,309.87	10,512,615.80
Add:Otherincome	VII（67）	71,588,844.04	64,653,750.31
Returnoninvestment(“－”forloss)	VII（68）	88,937,690.69	-2,590,667.61
Ofwhich:Shareofprofitorlossofjointventuresandassociates		-11,088,794.24
Incomefromthederecognitionoffinancialassetsatamortizedcost
Exchangegain(“－”forloss)
Netgainonexposurehedges(“－”forloss)
Gainonchangesinfairvalue(“－”forloss)	VII（70）	-8,076,897.07	-14,851,581.32
Creditimpairmentloss(“－”forloss)	VII（71）	-23,484,512.82	-17,762,445.82
Assetimpairmentloss(“－”forloss)	VII（72）	-93,162,576.87	-76,650,941.87
Assetdisposalincome(“－”forloss)	VII（73）	-277,119.50	507,502.94
IIIOperatingprofit(“－”forloss)		648,360,069.19	420,411,951.18
Add:Non-operatingincome	VII（74）	3,171,306.86	1,156,069.95
Less:Non-operatingexpense	VII（75）	14,367,389.90	254,620,804.20
IVGrossprofit(“－”forgrossloss)		637,163,986.15	166,947,216.93

/

Less:Incometaxexpense	VII（76）	76,826,357.36	27,224,935.86
VNetprofit(“－”fornetloss)		560,337,628.79	139,722,281.07
i.Byoperatingcontinuity
1.Netprofitfromcontinuingoperations(“－”fornetloss)		560,337,628.79	139,722,281.07
2.Netprofitfromdiscontinuedoperations(“－”fornetloss)
ii.Byownership
1.Netprofitattributabletoownersoftheparentcompany(“－”fornetloss)		640,925,193.32	179,233,332.27
2.Netprofitattributabletonon-controllinginterests(“－”fornetloss)		-80,587,564.53	-39,511,051.20
VIOthercomprehensiveincome,netoftax	VII（77）	-27,481,346.43	-14,860,397.39
i.Othercomprehensiveincome,netoftaxattributabletoownersoftheparentcompany		-27,272,544.01	-14,830,183.13
1.Othercomprehensiveincomethatwillnotbereclassifiedtoprofitorloss
(1)Changescausedbyremeasurementsondefinedbenefitschemes
(2)Othercomprehensiveincomethatwillnotbereclassifiedtoprofitorlossundertheequitymethod
(3)Changesinthefairvalueofotherdebtinvestments
(4)Changesinthefairvaluearisingfromchangesinowncreditrisk
2.Othercomprehensiveincomethatwillbereclassifiedtoprofitorloss		-27,272,544.01	-14,830,183.13
(1)Othercomprehensiveincomethatwillbereclassifiedtoprofitorlossundertheequitymethod
(2)Changesinthefairvalueofotherdebtinvestments
(3)Othercomprehensiveincomearisingfromthereclassificationoffinancialassets
(4)Creditimpairmentallowancesforotherdebtinvestments
(5)Reserveforcashflowhedges
(6)Differencesarisingfromthetranslationofforeigncurrency-denominatedfinancialstatements		-27,272,544.01	-14,830,183.13
(7)Other
ii.Othercomprehensiveincome,netoftaxattributabletonon-controllinginterests		-208,802.42	-30,214.26
VIITotalcomprehensiveincome		532,856,282.36	124,861,883.68

/

i.Totalcomprehensiveincomeattributabletoownersoftheparentcompany		613,652,649.31	164,403,149.14
ii.Totalcomprehensiveincomeattributabletonon-controllinginterests		-80,796,366.95	-39,541,265.46
VIIIEarningspershare:
i.Basicearningspershare(RMB/share)		1.45	0.40
ii.Dilutedearningspershare(RMB/share)		1.42	0.40

Legalrepresentative:LiHongjingPersoninchargeofaccounting:LiHongjingHeadofthefinancialdepartment:XueWei

/

IncomeStatementoftheParentCompany

January-December2024

Unit:RMB

Item	Note	2024	2023
IOperatingrevenue	XIX（4）	2,215,884,866.92	1,446,297,170.75
Less:Costofsales	XIX（4）	1,614,189,598.57	1,263,834,164.56
Taxesandlevies		1,678,895.85	1,280,996.13
Sellingexpense		89,384,895.46	67,759,316.14
Administrativeexpense		212,195,799.31	192,030,508.19
R&Dexpense		118,837,553.35	94,514,967.81
Financecosts		-3,713,416.76	-11,169,420.75
Ofwhich:Interestexpense		47,256,939.13	48,817,303.41
Interestincome		37,187,966.59	29,410,992.12
Add:Otherincome		2,606,487.42	15,945,480.82
Returnoninvestment(“－”forloss)	XIX（5）	1,226,014.15	277,414,357.39
Ofwhich:Shareofprofitorlossofjointventuresandassociates
Incomefromthederecognitionoffinancialassetsatamortizedcost
Netgainonexposurehedges(“－”forloss)
Gainonchangesinfairvalue(“－”forloss)		-8,076,897.07	-14,851,581.32
Creditimpairmentloss(“－”forloss)		4,552,568.91	-2,966,816.97
Assetimpairmentloss(“－”forloss)		22,941,962.83	-48,121,596.89
Assetdisposalincome(“－”forloss)		-416,147.58	73,844.73
IIOperatingprofit(“－”forloss)		206,145,529.80	65,540,326.43
Add:Non-operatingincome		2,139,861.95	125,531.78
Less:Non-operatingexpense		492,624.00	98,001,096.15
IIIGrossprofit(“－”forgrossloss)		207,792,767.75	-32,335,237.94
Less:Incometaxexpense		16,742,335.92	-56,686,802.69
IVNetprofit(“－”fornetloss)		191,050,431.83	24,351,564.75
i.Netprofitfromcontinuingoperations(“－”fornetloss)		191,050,431.83	24,351,564.75
ii.Netprofitfromdiscontinuedoperations(“－”fornetloss)
VOthercomprehensiveincome,netoftax
i.Othercomprehensiveincomethatwillnotbereclassifiedtoprofitorloss
1.Changescausedbyremeasurementsondefinedbenefitschemes
2.Othercomprehensiveincomethatwillnotbereclassifiedtoprofitorlossundertheequitymethod

/

3.Changesinthefairvalueofotherdebtinvestments
4.Changesinthefairvaluearisingfromchangesinowncreditrisk
ii.Othercomprehensiveincomethatwillbereclassifiedtoprofitorloss
1.Othercomprehensiveincomethatwillbereclassifiedtoprofitorlossundertheequitymethod
2.Changesinthefairvalueofotherdebtinvestments
3.Othercomprehensiveincomearisingfromthereclassificationoffinancialassets
4.Creditimpairmentallowancesforotherdebtinvestments
5.Reserveforcashflowhedges
6.Differencesarisingfromthetranslationofforeigncurrency-denominatedfinancialstatements
7.Other
VITotalcomprehensiveincome		191,050,431.83	24,351,564.75
VIIEarningspershare:
i.Basicearningspershare(RMB/share)
ii.Dilutedearningspershare(RMB/share)

Legalrepresentative:LiHongjingPersoninchargeofaccounting:LiHongjingHeadofthefinancialdepartment:XueWei

/

ConsolidatedCashFlowStatement

January-December2024

Unit:RMB

Item	Note	2024	2023
ICashflowsfromoperatingactivities:
Proceedsfromsaleofgoodsandrenderingofservices		4,157,931,817.50	3,311,628,641.99
Netincreaseincustomerdepositsanddepositsfromotherbanksandfinancialinstitutions
Netincreaseinborrowingsfromthecentralbank
Netincreaseinloansfromotherfinancialinstitutions
Premiumsreceivedonoriginalinsurancecontracts
Netproceedsfromreinsurance
Netincreaseindepositsandinvestmentsofpolicyholders
Interest,feesandcommissionsreceived
Netincreaseinloansfromotherbanksandfinancialinstitutions
Netincreaseinproceedsfromrepurchasetransactions
Netproceedsfromactingtradingofsecurities
Taxandlevyrebates		309,566,073.95	168,067,577.20
Cashgeneratedfromotheroperatingactivities	VII（78）	81,863,350.63	57,068,378.58
Subtotalofcashgeneratedfromoperatingactivities		4,549,361,242.08	3,536,764,597.77
Paymentsforgoodsandservices		1,747,618,779.56	1,447,853,668.18
Netincreaseinloansandadvancestocustomers
Netincreaseindepositsinthecentralbankandotherbanksandfinancialinstitutions
Paymentsforclaimsonoriginalinsurancecontracts
Netincreaseinloanstootherbanksandfinancialinstitutions
Interest,feesandcommissionspaid
Policydividendspaid
Cashpaidtoandforemployees		843,480,565.97	751,003,066.43
Taxesandleviespaid		278,165,548.53	325,123,343.96
Cashusedinotheroperatingactivities	VII（78）	932,578,862.17	578,728,101.33
Subtotalofcashusedinoperatingactivities		3,801,843,756.23	3,102,708,179.90
Netcashgeneratedfrom/usedinoperatingactivities	VII（79）	747,517,485.85	434,056,417.87

/

IICashflowsfrominvestingactivities:
Proceedsfromthedisposalofinvestments	VII（78）	48,624,416.78	2,007,016,233.38
Returnoninvestment		1,284,135.92	6,045,411.98
Netproceedsfromthedisposaloffixedassets,intangibleassetsandotherlong-termassets		2,349,712.86	89,000.00
Netproceedsfromthedisposalofsubsidiariesandotherbusinessunits
Cashgeneratedfromotherinvestingactivities
Subtotalofcashgeneratedfrominvestingactivities		52,258,265.56	2,013,150,645.36
Paymentsfortheacquisitionandconstructionoffixedassets,intangibleassetsandotherlong-termassets		150,498,028.15	215,789,015.52
Paymentsfortheacquisitionofinvestments	VII（78）	40,000,000.00	2,025,146,410.00
Netincreaseinpledgeloans
Netpaymentsfortheacquisitionofsubsidiariesandotherbusinessunits
Cashusedinotherinvestingactivities		67,428,254.52
Subtotalofcashusedininvestingactivities		257,926,282.67	2,240,935,425.52
Netcashgeneratedfrom/usedininvestingactivities		-205,668,017.11	-227,784,780.16
IIICashflowsfromfinancingactivities:
Capitalcontributionsreceived
Ofwhich:Capitalcontributionsreceivedbysubsidiariesfromnon-controllinginterests
Borrowingsreceived		200,000,000.00
Cashgeneratedfromotherfinancingactivities
Subtotalofcashgeneratedfromfinancingactivities		200,000,000.00
Repaymentofborrowings			150,000,000.00
Interestanddividendspaid		359,604,891.19	5,484,271.87
Ofwhich:Dividendspaidbysubsidiariestonon-controllinginterests
Cashusedinotherfinancingactivities	VII（78）	169,006,000.06	21,944,763.49
Subtotalofcashusedinfinancingactivities		528,610,891.25	177,429,035.36
Netcashgeneratedfrom/usedinfinancingactivities		-328,610,891.25	-177,429,035.36
IVEffectofforeignexchangeratechangesoncashandcashequivalents		22,310,737.96	13,691,024.26
VNetincreaseincashandcashequivalents	VII（79）	235,549,315.45	42,533,626.61

/

Add:Cashandcashequivalents,beginningoftheperiod	VII（79）	1,474,409,219.41	1,431,875,592.80
VICashandcashequivalents,endoftheperiod	VII（79）	1,709,958,534.86	1,474,409,219.41

Legalrepresentative:LiHongjingPersoninchargeofaccounting:LiHongjingHeadofthefinancialdepartment:XueWei

/

CashFlowStatementoftheParentCompany

January-December2024

Unit:RMB

Item	Note	2024	2023
ICashflowsfromoperatingactivities:
Proceedsfromsaleofgoodsandrenderingofservices		2,002,183,422.47	1,730,838,827.97
Taxandlevyrebates		152,008,351.65	82,776,270.45
Cashgeneratedfromotheroperatingactivities		52,993,419.23	32,104,334.60
Subtotalofcashgeneratedfromoperatingactivities		2,207,185,193.35	1,845,719,433.02
Paymentsforgoodsandservices		933,440,234.77	1,192,132,653.10
Cashpaidtoandforemployees		237,724,104.01	193,664,435.01
Taxesandleviespaid		3,966,294.18	10,236,718.55
Cashusedinotheroperatingactivities		248,882,174.77	50,400,102.51
Subtotalofcashusedinoperatingactivities		1,424,012,807.73	1,446,433,909.17
Netcashgeneratedfrom/usedinoperatingactivities		783,172,385.62	399,285,523.85
IICashflowsfrominvestingactivities:
Proceedsfromthedisposalofinvestments		28,511,431.29	2,007,011,703.38
Returnoninvestment		1,383,696.75	6,045,411.98
Netproceedsfromthedisposaloffixedassets,intangibleassetsandotherlong-termassets		1,990,020.00	54,000.00
Netproceedsfromthedisposalofsubsidiariesandotherbusinessunits		41,905,000.00
Cashgeneratedfromotherinvestingactivities		151,000,000.00
Subtotalofcashgeneratedfrominvestingactivities		224,790,148.04	2,013,111,115.36
Paymentsfortheacquisitionandconstructionoffixedassets,intangibleassetsandotherlong-termassets		200,259,129.78	26,162,942.48
Paymentsfortheacquisitionofinvestments		73,023,235.94	2,095,136,855.00
Netpaymentsfortheacquisitionofsubsidiariesandotherbusinessunits
Cashusedinotherinvestingactivities			486,797,752.20
Subtotalofcashusedininvestingactivities		273,282,365.72	2,608,097,549.68
Netcashgeneratedfrom/usedininvestingactivities		-48,492,217.68	-594,986,434.32
IIICashflowsfromfinancingactivities:
Capitalcontributionsreceived
Borrowingsreceived

/

Cashgeneratedfromotherfinancingactivities
Subtotalofcashgeneratedfromfinancingactivities
Repaymentofborrowings			150,000,000.00
Interestanddividendspaid		358,897,719.62	5,484,271.87
Cashusedinotherfinancingactivities		169,092,288.11	14,810,069.30
Subtotalofcashusedinfinancingactivities		527,990,007.73	170,294,341.17
Netcashgeneratedfrom/usedinfinancingactivities		-527,990,007.73	-170,294,341.17
IVEffectofforeignexchangeratechangesoncashandcashequivalents		16,275,464.62	10,241,385.77
VNetincreaseincashandcashequivalents		222,965,624.83	-355,753,865.87
Add:Cashandcashequivalents,beginningoftheperiod		804,279,162.37	1,160,033,028.24
VICashandcashequivalents,endoftheperiod		1,027,244,787.20	804,279,162.37

Legalrepresentative:LiHongjingPersoninchargeofaccounting:LiHongjingHeadofthefinancialdepartment:XueWei

/

ConsolidatedStatementsofChangesinOwners’Equity

January-December2024

Unit:RMB

Item	2024
	Equityattributabletoownersoftheparentcompany								Non-controllinginterests	Totalowners’equity
	Paid-incapital(orsharecapital)	Otherequityinstruments	Capitalreserves	Less:Treasuryshares	Othercomprehensiveincome	Surplusreserves	Retainedearnings	Subtotal
		Other
IBalanceasattheendoftheprioryear	451,877,086.00	192,384,973.75	1,297,118,239.93	100,280,543.07	-950,923.83	173,465,094.17	1,201,893,803.39	3,215,507,730.34	-58,045,183.09	3,157,462,547.25
Add:Adjustmentsforchangesinaccountingpolicies
Adjustmentsforcorrectionofpreviouserrors
Other						-5,653,714.94	5,653,714.94
IIBalanceasatthebeginningoftheyear	451,877,086.00	192,384,973.75	1,297,118,239.93	100,280,543.07	-950,923.83	167,811,379.23	1,207,547,518.33	3,215,507,730.34	-58,045,183.09	3,157,462,547.25
IIIIncrease/decreaseintheperiod(“-”fordecrease)	942.00	-4,810.59	124,006,749.20	42,652,677.20	-27,272,544.01	19,105,043.18	269,103,586.94	342,286,289.52	-76,984,416.20	265,301,873.32
i.Totalcomprehensiveincome					-27,272,544.01		640,925,193.32	613,652,649.31	-80,796,366.95	532,856,282.36
ii.Capitalincreaseandreductionbyowners	942.00	-4,810.59	34,663,599.89	42,652,677.20				-7,992,945.90		-7,992,945.90
1.Ordinaryshareincreasebyowners			18,967,646.17	42,652,677.20				-23,685,031.03		-23,685,031.03
2.Capital	942.00	-4,810.59	35,017.69					31,149.10		31,149.10

/

increasebyholdersofotherequityinstruments
3.Share-basedpaymentsrecognizedinowners’equity			15,660,936.03					15,660,936.03		15,660,936.03
iii.Profitdistribution						19,105,043.18	-371,821,606.38	-352,716,563.20		-352,716,563.20
1.Appropriatedtosurplusreserves						19,105,043.18	-19,105,043.18
2.Distributedtoowners(orshareholders)							-352,716,563.20	-352,716,563.20		-352,716,563.20
3.Other			89,343,149.31					89,343,149.31	3,811,950.75	93,155,100.06
IVBalanceasattheendoftheperiod	451,878,028.00	192,380,163.16	1,421,124,989.13	142,933,220.27	-28,223,467.84	186,916,422.41	1,476,651,105.27	3,557,794,019.86	-135,029,599.29	3,422,764,420.57

/

Item	2023
	Equityattributabletoownersoftheparentcompany								Non-controllinginterests	Totalowners’equity
	Paid-incapital(orsharecapital)	Otherequityinstruments	Capitalreserves	Less:Treasuryshares	Othercomprehensiveincome	Surplusreserves	Retainedearnings	Subtotal
		Other
IBalanceasattheendoftheprioryear	451,869,675.00	192,423,759.16	1,292,012,148.13	100,280,543.07	13,879,259.30	171,029,937.69	1,025,095,627.60	3,046,029,863.81	-18,503,917.63	3,027,525,946.18
IIBalanceasatthebeginningoftheyear	451,869,675.00	192,423,759.16	1,292,012,148.13	100,280,543.07	13,879,259.30	171,029,937.69	1,025,095,627.60	3,046,029,863.81	-18,503,917.63	3,027,525,946.18
IIIIncrease/decreaseintheperiod(“-”fordecrease)	7,411.00	-38,785.41	5,106,091.80		-14,830,183.13	2,435,156.48	176,798,175.79	169,477,866.53	-39,541,265.46	129,936,601.07
i.Totalcomprehensiveincome					-14,830,183.13		179,233,332.27	164,403,149.14	-39,541,265.46	124,861,883.68
ii.Capitalincreaseandreductionbyowners	7,411.00	-38,785.41	5,106,091.80					5,074,717.39		5,074,717.39
1.Capitalincreasebyholdersofotherequityinstruments	7,411.00	-38,785.41	279,500.71					248,126.30		248,126.30
2.Share-basedpaymentsrecognizedinowners’equity			4,826,591.09					4,826,591.09		4,826,591.09
iii.Profitdistribution						2,435,156.48	-2,435,156.48
1.Appropriatedtosurplusreserves						2,435,156.48	-2,435,156.48
IVBalanceasattheendoftheperiod	451,877,086.00	192,384,973.75	1,297,118,239.93	100,280,543.07	-950,923.83	173,465,094.17	1,201,893,803.39	3,215,507,730.34	-58,045,183.09	3,157,462,547.25

Legalrepresentative:LiHongjingPersoninchargeofaccounting:LiHongjingHeadofthefinancialdepartment:XueWei

/

StatementsofChangesinOwners’EquityoftheParentCompany

January-December2024

Unit:RMB

Item	2024
	Paid-incapital(orsharecapital)	Otherequityinstruments	Capitalreserves	Less:Treasuryshares	Surplusreserves	Retainedearnings	Totalowners’equity
		Other
IBalanceasattheendoftheprioryear	451,877,086.00	192,384,973.75	1,295,589,877.33	100,280,543.07	173,465,094.17	901,994,989.56	2,915,031,477.74
Add:Adjustmentsforchangesinaccountingpolicies
Adjustmentsforcorrectionofpreviouserrors
Otheradjustments					-5,653,714.94	-50,883,434.43	-56,537,149.37
IIBalanceasatthebeginningoftheyear	451,877,086.00	192,384,973.75	1,295,589,877.33	100,280,543.07	167,811,379.23	851,111,555.13	2,858,494,328.37
IIIIncrease/decreaseintheperiod(“-”fordecrease)	942.00	-4,810.59	34,663,599.89	42,652,677.20	19,105,043.18	-180,771,174.55	-169,659,077.27
i.Totalcomprehensiveincome						191,050,431.83	191,050,431.83
ii.Capitalincreasedandreducedbyowners	942.00	-4,810.59	34,663,599.89	42,652,677.20			-7,992,945.90
1.Ordinaryshareincreasebyowners				42,652,677.20			-42,652,677.20
2.Capitalincreasebyholdersofotherequityinstruments	942.00	-4,810.59	35,017.69				31,149.10
3.Share-basedpaymentsrecognizedinowners’equity			34,628,582.20				34,628,582.20
iiiProfitdistribution					19,105,043.18	-371,821,606.38	-352,716,563.20
1.Appropriatedtosurplusreserves					19,105,043.18	-19,105,043.18
2.Distributedtoowners(orshareholders)						-352,716,563.20	-352,716,563.20
IVBalanceasattheendoftheperiod	451,878,028.00	192,380,163.16	1,330,253,477.22	142,933,220.27	186,916,422.41	670,340,380.58	2,688,835,251.10

/

Item	2023
	Paid-incapital(orsharecapital)	Otherequityinstruments	Capitalreserves	Less:Treasuryshares	Surplusreserves	Retainedearnings	Totalowners’equity
		Other
IBalanceasattheendoftheprioryear	451,869,675.00	192,423,759.16	1,290,483,785.53	100,280,543.07	171,029,937.69	880,078,581.29	2,885,605,195.60
IIBalanceasatthebeginningoftheyear	451,869,675.00	192,423,759.16	1,290,483,785.53	100,280,543.07	171,029,937.69	880,078,581.29	2,885,605,195.60
IIIIncrease/decreaseintheperiod(“-”fordecrease)	7,411.00	-38,785.41	5,106,091.80		2,435,156.48	21,916,408.27	29,426,282.14
i.Totalcomprehensiveincome						24,351,564.75	24,351,564.75
ii.Capitalincreasedandreducedbyowners	7,411.00	-38,785.41	5,106,091.80				5,074,717.39
1.Capitalincreasebyholdersofotherequityinstruments	7,411.00	-38,785.41	279,500.71				248,126.30
2.Share-basedpaymentsrecognizedinowners’equity			4,826,591.09				4,826,591.09
iiiProfitdistribution					2,435,156.48	-2,435,156.48
1.Appropriatedtosurplusreserves					2,435,156.48	-2,435,156.48
IVBalanceasattheendoftheperiod	451,877,086.00	192,384,973.75	1,295,589,877.33	100,280,543.07	173,465,094.17	901,994,989.56	2,915,031,477.74

Legalrepresentative:LiHongjingPersoninchargeofaccounting:LiHongjingHeadofthefinancialdepartment:XueWei

/

IIICompanyOverview

1.CompanyProfile

√Applicable□NotApplicableAutelIntelligentTechnologyCorp.,Ltd.(hereinafterreferredtoasAutel)wasoriginallyestablishedasAutelTechnologyCo.,Ltd.onSeptember28,2004,withitsheadquarterslocatedinShenzhen,GuangdongProvince.OnJune13,2014,withtheapprovaloftheShenzhenMunicipalMarketSupervisionAdministration,AutelTechnologyCo.,Ltd.transitionedtoajoint-stockcompany,withthebasedatesetasOctober31,2013,andthecompanynamechangedtoAutelIntelligentTechnologyCorp.,Ltd.(Autel).Autelcurrentlyholdsabusinesslicensewiththeunifiedsocialcreditcode91440300767550462C,aregisteredcapitalofRMB451,878,028.00,andatotalof451,878,028shares(eachsharehavingaparvalueofRMB1).Amongthese,451,878,028A-sharesaretradablewithoutrestrictions.Autel'sstockhasbeenlistedandtradedontheShanghaiStockExchangesinceFebruary13,2020.Autel’sbusinessscopemainlyincludestheresearch,development,production,sales,andservicesofautomotiveintelligentdiagnosticandtestingsystems,automotiveelectroniccomponents,andintelligentchargingnetworks.Themainproductsincludeintegratedautomotivediagnosticproducts,TPMSproducts,ADASproducts,intelligentchargingnetworks,andrelatedsoftwarecloudservices.

ThisfinancialreporthasbeenapprovedforpublicationbyAutel’s18thmeetingofthe4thBoardofDirectorsonMarch28,2025.Inthenotestothisfinancialreport,unlessotherwisespecified,thefollowingabbreviationsareusedforthecompanynames:

Fullname	Shortname
Autel(USA),INC.	AutelCalifornia
Autel.USInc.	AutelNewYork
AutelEuropeGmbH	AutelGermany
AutelHongKongHoldingLimited	AutelHongKong
C?ngtyTNHHAutelVi?tNam	AutelVietnam
AutelImeaDMCC	AutelDubai
Autel.JPInc.	AutelJapan
AuteltechLatinAmericaSADECV	AutelMexico
AutelEuropeS.R.L.	AutelItaly
AUTELEUROPEUKLTD	AutelUK
AUTELBRASILTECNOLOGIALTDA	AutelBrazil
AutelNetherlandsB.V.	AutelNetherlands
AUTELNEWENERGYUSINC	AutelNewEnergyUS

/

Fullname	Shortname
ECOMAMERICAINC	AutelEcomAmerica
C?NGTYTNHHC?NGNGH?N?NGL??NGM?IAUTELVI?TNAM	AutelNewEnergyVietnam
AutelEuropeFrance	AutelFrance
AUTELINTELLIGENTTECHNOLOGY(AUSTRALIA)PTYLTD	AutelAustralia
AutelIberiaS.L.	AutelSpain
AutelNordicAB	AutelSweden
AutelHunanCo.,Ltd.	AutelHunan
AutelDigitalPowerCo.,Ltd.	AutelDigitalPower
AutelHeshengSoftwareDevelopmentCo.,Ltd.	AutelHesheng
AutelXi’anCo.,Ltd.	AutelXi’an
ShenzhenSkyFendTechnologyCo.,Ltd.	SkyFendTechnology
ShenzhenRainbowTechnologyDevelopmentCo.,Ltd.	RainbowTechnology
ShenzhenAutelRainbowInformationConsultingCo.,Ltd.	RainbowInformationConsulting
AutelHainanCo.,Ltd.	AutelHainan
AutelHedaSupplyChainConsultingManagementCo.,Ltd.	AutelHeda
AutelRoboticsCo.,Ltd.	AutelRobotics
ShenzhenXiaoteAutelNewEnergyCo.,Ltd.	XiaoteAutel
ShenzhenYingtongPropertyManagementDevelopmentCo.,Ltd.	YingtongPropertyManagement
AutelHexinSoftwareDevelopmentCo.,Ltd.	AutelHexin
HainanChizhuoAutomotiveServiceCo.,Ltd.	HainanChizhuo
AVANTINTELLIGENCELTD	AvantIntelligenceUK

IVBasisforthePreparationofFinancialStatements

1.BasisofpreparationAutel’sfinancialstatementsarepreparedonthebasisofagoingconcern.

2.Goingconcern

√Applicable□NotApplicableTherearenomattersorsituationsthatwouldraisesignificantdoubtsaboutAutel’sabilitytocontinueasagoingconcernwithinthe12monthsfromtheendoftheReportingPeriod.VSignificantAccountingPoliciesandEstimatesSpecificaccountingpoliciesandestimatesareasfollows:

/

√Applicable□NotApplicableImportantNote:Basedontheactualcharacteristicsofproductionandoperations,Autelhasdevelopedspecificaccountingpoliciesandestimatesforfinancialinstrumentsimpairment,depreciationoffixedassets,depreciationofright-of-useassets,amortizationofintangibleassets,capitalizationofdevelopmentexpenses,revenuerecognition,andothertransactionsormatters.

1.CompliancewithAccountingStandardsforEnterprises

ThefinancialstatementspreparedbyAutelcomplywiththerequirementsoftheAccountingStandardsforEnterprises,truthfullyandcompletelyreflectingAutel’sfinancialposition,operatingresults,changesinshareholders'equity,cashflows,andotherrelatedinformation.

2.Accountingperiod

Autel’saccountingyearstartsfromJanuary1andendsonDecember31.

3.Operatingcycle

√Applicable□NotApplicable

Autel’sbusinessoperationshaveashortoperatingcycle,with12monthsasthestandardforclassifyingtheliquidityofassetsandliabilities.

4.Functionalcurrency

AutelanditsdomesticsubsidiariesuseRenminbi(RMB)astheirfunctionalcurrency.Overseassubsidiaries,suchasAutelNewYorkandAutelGermany,usethecurrencyofthemaineconomicenvironmentinwhichtheyoperateastheirfunctionalcurrency.

5.Determinationmethodandbasisformaterialitystandards

√Applicable□NotApplicable

Autelfollowstheprincipleofmaterialityinpreparinganddisclosingfinancialstatements.Themattersdisclosedinthenotestothisfinancialreport,whichinvolvejudgmentofmaterialitystandards,aredeterminedbasedonthefollowingmethodsandcriteria:

/

Disclosuremattersinvolvingjudgmentofmaterialitystandards	Methodandbasisfordeterminingmaterialitystandards
Significantindividualprovisionforbaddebtonreceivables	Individualamountexceeding0.3%oftotalassets
Significantprepaymentswithanageexceedingoneyear	Individualamountexceeding0.3%oftotalassets
Significantpayableswithanageexceedingoneyear	Individualamountexceeding0.3%oftotalassets
Significantotherpayableswithanageexceedingoneyear	Individualamountexceeding0.3%oftotalassets
Significantcashflowsfrominvestingactivities	Exceeding10%oftotalassets
Significantsubsidiaries,non-whollyownedsubsidiaries	Revenueexceeding10%oftotalgrouprevenueandtotalassetsexceeding10%oftotalgroupassets
Significantequitymethodinvestees	Individuallong-termequityinvestmentbookvalueexceeding15%ofthegroup'snetassets/individualequitymethodinvestmentincomeexceeding15%ofthegroup'stotalprofit

6.Accountingtreatmentforbusinesscombinationsundercommoncontrolandnot

undercommoncontrol

√Applicable□NotApplicable

1.AccountingtreatmentforbusinesscombinationsundercommoncontrolInbusinesscombinations,theassetsandliabilitiesacquiredbyAutelaremeasuredatthebookvalueofthecombinedpartyasreflectedintheultimatecontrollingparty'sconsolidatedfinancialstatementsasofthecombinationdate.Auteladjustscapitalreservebasedonthedifferencebetweenthebookvalueofthecombinedparty'sequityintheultimatecontrollingparty'sconsolidatedfinancialstatementsandthebookvalueoftheconsiderationpaidforthemergerorthetotalnominalvalueoftheissuedshares.Ifthecapitalreserveisinsufficient,thedifferenceisadjustedagainstretainedearnings.

2.AccountingtreatmentforbusinesscombinationsnotundercommoncontrolIfthepurchasecostinabusinesscombinationexceedsthefairvalueoftheidentifiablenetassetsacquiredfromthepurchasedparty,goodwillisrecognized.Ifthepurchasecostislessthanthefairvalueoftheidentifiablenetassetsacquired,thefairvaluesoftheidentifiableassets,liabilities,andcontingentliabilitiesacquiredfromthepurchasedparty,alongwiththemeasurementofthepurchasecost,arereviewed.Afterreview,ifthe

/

purchasecostisstilllessthanthefairvalueoftheidentifiablenetassetsacquired,thedifferenceisrecognizedinthecurrentprofitorloss.

7.Judgmentofcontrolandmethodforpreparingconsolidatedfinancialstatements

√Applicable□NotApplicable

1.JudgmentofcontrolControlisrecognizedwhentheinvestorhaspowerovertheinvestee,enjoysvariablereturnsthroughinvolvementintheinvestee’sactivities,andhastheabilitytoaffecttheamountofthosereturnsthroughitspower.

2.MethodforpreparingconsolidatedfinancialstatementsTheparentcompanyconsolidatesallofitscontrolledsubsidiariesinthescopeoftheconsolidatedfinancialstatements.Theconsolidatedfinancialstatementsarepreparedbytheparentcompanybasedonthefinancialstatementsoftheparentanditssubsidiaries,inaccordancewiththerelevantguidelinesoftheAccountingStandardsforEnterprisesNo.33-ConsolidatedFinancialStatements.

8.Classificationofjointarrangementsandaccountingforjointoperations

□Applicable√NotApplicable

9.Determinationstandardsforcashandcashequivalents

Cashlistedinthecashflowstatementreferstocashonhandanddepositsthatcanbeusedforpaymentatanytime.Cashequivalentsrefertoshort-term,highlyliquidinvestmentsheldbythecompanythatareeasilyconvertibleintoknownamountsofcashwithaninsignificantriskofchangesinvalue.

10.Foreigncurrencytransactionsandtranslationofforeigncurrencyfinancial

statements

√Applicable□NotApplicable

1.ForeigncurrencytransactiontranslationForeigncurrencytransactionsaretranslatedintoRMBattheexchangerateapproximatingthespotrateonthetransactiondatewheninitiallyrecognized.Atthebalancesheetdate,foreignmonetaryitemsaretranslatedattheexchangerateonthatdate.Exchangedifferencesarisingfromchangesintheexchangerate,exceptforthoserelatedtoforeigncurrencyborrowingsfortheconstructionofassetsqualifyingforcapitalization,arerecognizedinthecurrentprofitorloss.Foreignnon-monetaryitemsmeasuredathistorical

/

costaretranslatedusingtheexchangerateonthetransactiondatewithoutchangingtheirRMBamount.Foreignnon-monetaryitemsmeasuredatfairvaluearetranslatedusingthespotrateonthedateofdeterminingfairvalue,withanydifferencesrecognizedinthecurrentprofitorlossorothercomprehensiveincome.

2.TranslationofforeigncurrencyfinancialstatementsAssetsandliabilitiesinthebalancesheetaretranslatedusingthespotrateonthebalancesheetdate.Forequityitems,otherthan“undistributedprofits,”theyaretranslatedusingthespotrateonthetransactiondate.Incomeandexpenseitemsintheincomestatementaretranslatedusingtheexchangerateapproximatingthespotrateonthetransactiondate.Theexchangedifferencesarisingfromtheabovetranslationarerecognizedinothercomprehensiveincome.

11.Financialinstruments

√Applicable□NotApplicable

1.ClassificationoffinancialassetsandfinancialliabilitiesFinancialassetsareclassifiedintothefollowingthreecategoriesuponinitialrecognition:

(1)Financialassetsmeasuredatamortizedcost;(2)financialassetsmeasuredatfairvaluewithchangesrecognizedinothercomprehensiveincome;(3)financialassetsmeasuredatfairvaluewithchangesrecognizedinprofitorloss.

Financialliabilitiesareclassifiedintothefollowingfourcategoriesuponinitialrecognition:

(1)Financialliabilitiesmeasuredatfairvaluewithchangesrecognizedinprofitorloss;

(2)financialliabilitiesarisingfromthetransferoffinancialassetsthatdonotmeetthederecognitioncriteriaorcontinuetobeinvolvedintransferredfinancialassets;(3)financialguaranteecontractsnotincludedinthecategoriesabove,andloancommitmentswheretheloanismadeataratelowerthanthemarketinterestrate;(4)financialliabilitiesmeasuredatamortizedcost.

2.Recognition,measurement,andderecognitionoffinancialassetsandfinancialliabilities

(1)Recognitionandinitialmeasurementoffinancialassetsandfinancialliabilities

/

Autelrecognizesafinancialassetorfinancialliabilitywhenitbecomesapartytothefinancialinstrumentcontract.Uponinitialrecognition,financialassetsorfinancialliabilitiesaremeasuredatfairvalue.Forfinancialassetsandfinancialliabilitiesmeasuredatfairvaluewithchangesrecognizedinprofitorloss,transactioncostsaredirectlyrecognizedinprofitorloss.Forothercategoriesoffinancialassetsorfinancialliabilities,transactioncostsareincludedintheinitialrecognitionamount.However,forreceivablesinitiallyrecognizedwithoutsignificantfinancingcomponentsorwhereAuteldoesnotconsiderthefinancingcomponentsofcontractsnotexceedingoneyear,theinitialmeasurementismadeaccordingtothetransactionpriceasdefinedintheAccountingStandardsforEnterprisesNo.14-Revenue.

(2)Subsequentmeasurementoffinancialassets

1)Financialassetsmeasuredatamortizedcost

Theseassetsaremeasuredatamortizedcostusingtheeffectiveinterestmethod.Gainsorlossesarisingfromfinancialassetsmeasuredatamortizedcostandnotpartofanyhedgingrelationshiparerecognizedinprofitorlosswhenderecognized,reclassified,amortizedusingtheeffectiveinterestmethod,orwhenimpairmentisrecognized.

2)Debtinstrumentinvestmentsmeasuredatfairvaluewithchangesrecognizedinothercomprehensiveincome

Thesearemeasuredatfairvalue.Interest,impairmentlosses,gains,andexchangeratedifferencescalculatedusingtheeffectiveinterestmethodarerecognizedinprofitorloss.Othergainsorlossesarerecognizedinothercomprehensiveincome.Uponderecognition,thecumulativegainsorlossespreviouslyrecognizedinothercomprehensiveincomearereclassifiedtoprofitorloss.

3)Equityinvestmentsmeasuredatfairvaluewithchangesrecognizedinothercomprehensiveincome

Thesearemeasuredatfairvalue.Dividendsreceived(excludingportionsthatarepartoftherecoveryofinvestmentcosts)arerecognizedinprofitorloss.Othergainsorlossesarerecognizedinothercomprehensiveincome.Uponderecognition,thecumulativegainsorlossespreviouslyrecognizedinothercomprehensiveincomearereclassifiedtoretainedearnings.

4)Financialassetsmeasuredatfairvaluewithchangesrecognizedinprofitorloss

/

Thesearemeasuredatfairvalue,andtheresultinggainsorlosses(includinginterestanddividendincome)arerecognizedinprofitorlossunlessthefinancialassetispartofahedgingrelationship.

(3)Subsequentmeasurementoffinancialliabilities

1)Financialliabilitiesmeasuredatfairvaluewithchangesrecognizedinprofitorloss

Theseliabilitiesincludetradingfinancialliabilities(includingderivativeinstrumentsthatarefinancialliabilities)andthosedesignatedasmeasuredatfairvaluewithchangesrecognizedinprofitorloss.Forthesefinancialliabilities,subsequentmeasurementisatfairvalue.ChangesinfairvaluearisingfromAutel’sowncreditriskarerecognizedinothercomprehensiveincomeunlesssuchtreatmentcreatesorexacerbatesanaccountingmismatchinprofitorloss.Othergainsorlosses(includinginterestexpenses,exceptforthosearisingfromchangesinfairvalueduetoAutel’sowncreditrisk)arerecognizedinprofitorlossunlessthefinancialliabilityispartofahedgingrelationship.Uponderecognition,cumulativegainsorlossespreviouslyrecognizedinothercomprehensiveincomearereclassifiedtoretainedearnings.

2)FinancialliabilitiesarisingfromtransferoffinancialassetsthatdonotmeetderecognitionconditionsorcontinuinginvolvementintransferredfinancialassetsThesearemeasuredinaccordancewiththerelevantprovisionsofAccountingStandardsforEnterprisesNo.23-TransferofFinancialAssets.

3)Financialguaranteecontractsnotcoveredbycategories(1)or(2),andloancommitmentsatbelowmarketinterestrates.Afterinitialrecognition,thesearesubsequentlymeasuredatthehigherof:a)Thelossallowancedeterminedinaccordancewiththeimpairmentprovisionsforfinancialinstruments;b)thebalanceremainingafterdeductingthecumulativeamortizationdeterminedinaccordancewiththeprovisionsofAccountingStandardsforEnterprisesNo.14-Revenuefromtheinitialrecognitionamount.

4)Financialliabilitiesmeasuredatamortizedcost

Thesearemeasuredatamortizedcostusingtheeffectiveinterestmethod.Gainsorlossesarisingfromfinancialliabilitiesmeasuredatamortizedcostandnotpartofanyhedgingrelationshiparerecognizedinprofitorlosswhenderecognizedoramortizedusingtheeffectiveinterestmethod.

(4)Derecognitionoffinancialassetsandfinancialliabilities

1)Afinancialassetisderecognizedwhenoneofthefollowingconditionsismet:

/

①Thecontractualrightstoreceivecashflowsfromthefinancialassethaveexpired;②Thefinancialassethasbeentransferred,andthetransfermeetsthederecognitioncriteriaforfinancialassetsasspecifiedinAccountingStandardsforEnterprisesNo.23-TransferofFinancialAssets.

2)Whenthecurrentobligationsofafinancialliability(oraportionthereof)areextinguished,thecorrespondingfinancialliability(orportionofthefinancialliability)isderecognized.

3.Recognitionandmeasurementoftransferredfinancialassets

IfAutelhastransferredalmostalltherisksandrewardsofownershipofafinancialasset,thefinancialassetisderecognized,andanyrightsandobligationsretainedorgeneratedfromthetransferarerecognizedseparatelyasassetsorliabilities.IfAutelretainsalmostalltherisksandrewardsofownershipofthefinancialasset,thetransferredfinancialassetcontinuestoberecognized.IfAutelneithertransfersnorretainsalmostalltherisksandrewardsofownershipofafinancialasset,thefollowingtreatmentsapply:(1)Ifcontroloverthefinancialassetisnotretained,thefinancialassetisderecognized,andanyrightsandobligationsretainedorgeneratedfromthetransferarerecognizedseparatelyasassetsorliabilities;(2)Ifcontroloverthefinancialassetisretained,thefinancialassetisrecognizedbasedontheextentofcontinuedinvolvementwiththetransferredfinancialasset,andcorrespondingliabilitiesarerecognized.

Whentheoveralltransferofafinancialassetmeetsthederecognitioncriteria,thedifferencebetweenthefollowingtwoamountsisrecognizedinthecurrentprofitorloss:

(1)Thebookvalueofthetransferredfinancialassetatthederecognitiondate;(2)theconsiderationreceivedfortransferringthefinancialasset,plustheamountcorrespondingtothederecognizedportionofthecumulativefairvaluechangesdirectlyrecognizedinothercomprehensiveincome(fordebtinstrumentinvestmentsmeasuredatfairvaluewithchangesrecognizedinothercomprehensiveincome).Ifonlyaportionofthefinancialassetistransferredandthetransferredportionmeetsthederecognitioncriteria,thetotalbookvalueofthefinancialassetbeforetransferisallocatedbetweenthederecognizedportionandtheportionthatcontinuestoberecognized,basedontheirrespectivefairvaluesonthetransferdate.Thedifferencebetweenthefollowingtwoamountsisrecognizedinthecurrentprofitorloss:(1)Thebookvalueofthederecognizedportion;(2)theconsiderationforthederecognizedportion,plustheamountcorrespondingtothederecognizedportionofthecumulativefairvaluechangesdirectlyrecognizedinothercomprehensiveincome(for

/

debtinstrumentinvestmentsmeasuredatfairvaluewithchangesrecognizedinothercomprehensiveincome).

4.FairvaluedeterminationoffinancialassetsandfinancialliabilitiesAuteldeterminesthefairvalueofrelevantfinancialassetsandfinancialliabilitiesusingvaluationtechniquesthatareapplicableinthecurrentcircumstancesandsupportedbysufficientavailabledataandotherinformation.Autelclassifiestheinputvaluesusedinthesevaluationtechniquesintothefollowinglevels,insequence:

(1)Level1inputsarequotedpricesforidenticalassetsorliabilitiesinactivemarketsthatareaccessibleatthemeasurementdate;

(2)Level2inputsareobservableinputs,eitherdirectlyorindirectly,fortherelevantassetorliability,includingquotedpricesforsimilarassetsorliabilitiesinactivemarkets,quotedpricesforidenticalorsimilarassetsorliabilitiesininactivemarkets,otherobservableinputssuchasinterestratesandyieldcurvesobservablewithinnormalquotationintervals,andmarket-verifiedinputs.;

(3)Level3inputsareunobservableinputsfortherelevantassetorliability,includinginterestrates,stockvolatilities,futurecashflowsofabandonmentobligationsassumedinbusinesscombinations,andfinancialforecastsmadeusingAutel'sowndata,thatcannotbedirectlyobservedorverifiedbyobservablemarketdata.

5.Impairmentoffinancialinstruments

Autelrecognizesimpairmentandlossprovisionsbasedonexpectedcreditlossesforfinancialassetsmeasuredatamortizedcost,debtinstrumentinvestmentsmeasuredatfairvaluewithchangesrecognizedinothercomprehensiveincome,contractassets,leasereceivables,loancommitmentsotherthanthoseclassifiedasfinancialliabilitiesmeasuredatfairvaluewithchangesrecognizedinprofitorloss,andfinancialguaranteecontractsthatarenotclassifiedasfinancialliabilitiesmeasuredatfairvaluewithchangesrecognizedinprofitorlossorfinancialliabilitiesarisingfromthetransferoffinancialassetsthatdonotmeetthederecognitioncriteria.

Expectedcreditlossreferstotheweightedaverageofthecreditlossesofafinancialinstrument,weightedbytheriskofdefault.Creditlossreferstothepresentvalueofthedifferencebetweenallcontractualcashflowsreceivableandtheexpectedcashflows,discountedattheoriginaleffectiveinterestrate,i.e.,thepresentvalueofthetotalcashshortfall.ForfinancialassetsthatAutelhaspurchasedororiginatedwithincurredcredit

/

impairment,thepresentvalueisdiscountedusingthecredit-adjustedeffectiveinterestrateofthefinancialasset.Forpurchasedororiginatedfinancialassetswithincurredcreditimpairment,Autelrecognizesonlythecumulativechangesinexpectedcreditlossesfortheentirelifeoftheassetsinceitsinitialrecognition.

Forleasereceivablesandreceivablesarisingfromtransactionsregulatedby“AccountingStandardsforEnterprisesNo.14-Revenue”andcontractassets,Autelappliesasimplifiedmeasurementmethod,measuringlossprovisionsequivalenttotheexpectedcreditlossesovertheentirelifeoftheasset.

Forfinancialassetsotherthanthosemeasuredbythemethodsabove,Autelevaluatesateachbalancesheetdatewhetherthecreditriskhasincreasedsignificantlysinceinitialrecognition.Ifthecreditriskhasincreasedsignificantly,Autelmeasuresthelossprovisionbasedontheexpectedcreditlossesovertheentirelifeoftheasset;ifthecreditriskhasnotincreasedsignificantly,Autelmeasuresthelossprovisionbasedontheexpectedcreditlossesoverthenext12months.

Autelusesreasonableandsupportableinformationavailable,includingforward-lookinginformation,tocomparetheriskofdefaultatthebalancesheetdatewiththeriskofdefaultatinitialrecognitiontodeterminewhetherthecreditriskofafinancialinstrumenthasincreasedsignificantlysinceinitialrecognition.

Atthebalancesheetdate,ifAuteldeterminesthatafinancialinstrumenthaslowcreditrisk,itassumesthatthecreditriskhasnotincreasedsignificantlysinceinitialrecognition.

Autelassessesexpectedcreditriskandmeasuresexpectedcreditlosseseitheronanindividualfinancialinstrumentoronafinancialinstrumentportfoliobasis.Whenassessingonaportfoliobasis,wegroupfinancialinstrumentsbasedonsharedriskcharacteristics.

Autelre-measuresexpectedcreditlossesateachbalancesheetdate,andanyincreaseorreversaloflossprovisionsisrecognizedasimpairmentlossorgaininthecurrentprofitorloss.Forfinancialassetsmeasuredatamortizedcost,thelossprovisionreducesthecarryingvalueofthefinancialassetinthebalancesheet.Fordebtinstrumentinvestmentsmeasuredatfairvaluewithchangesrecognizedinothercomprehensiveincome,Autelrecognizesthelossprovisioninothercomprehensiveincome,withoutadjustingthecarryingvalueofthefinancialasset.

6.Offsettingoffinancialassetsandfinancialliabilities

/

Financialassetsandfinancialliabilitiesarepresentedseparatelyinthebalancesheetandarenotoffset.However,ifthefollowingconditionsaremet,Autelpresentsthenetamountoffinancialassetsandfinancialliabilitiesinthebalancesheet:(1)Autelhasalegalrighttooffsettherecognizedamounts,andthislegalrightiscurrentlyenforceable;(2)Autelintendstosettleonanetbasisorsimultaneouslyrealizethefinancialassetandsettlethefinancialliability.Forfinancialassetstransferredthatdonotmeetthederecognitioncriteria,Auteldoesnotoffsetthetransferredfinancialassetsandrelatedliabilities.

12.Notesreceivable

√Applicable□NotApplicableCategoriesforprovisioningbaddebtbasedoncreditriskcharacteristicsanddeterminationbasis

√Applicable□NotApplicable

See"11.FinancialInstruments"abovefordetails.Agecalculationmethodforcreditriskcharacteristicsgroupbasedonage

□Applicable√NotApplicableProvisioningforbaddebtonanindividualbasisandcriteriaforindividualprovisioning

□Applicable√NotApplicable

13.Accountsreceivable

√Applicable□NotApplicableCategoriesforprovisioningbaddebtbasedoncreditriskcharacteristicsanddeterminationbasis

√Applicable□NotApplicable

Item	Basisfordeterminingthegroup	Methodformeasuringexpectedcreditlosses
Otherreceivables—relatedpartygroupwithintheconsolidatedscope	Relatedpartieswithintheconsolidatedscope	Basedonhistoricalcreditlossexperience,combinedwithcurrentconditionsandforecastsoffutureeconomicconditions,expectedcreditlossesare
Otherreceivables—speciallyidentifiedgroup	Natureoftheamount

/

(VATexporttaxrefund,VATrefundonsoftwareproducts,depositsandguarantees,pettycash,socialsecurityandhousingprovidentfundpaidonbehalfofemployees,employeeloans)		calculatedthroughtheexposuretodefaultriskandtheexpectedcreditlossrateforthenext12monthsortheentirelifeoftheasset.
Otherreceivables—ageinggroup	Ageing	Basedonhistoricalcreditlossexperience,combinedwithcurrentconditionsandforecastsoffutureeconomicconditions,atablecorrelatingageingofotherreceivableswithexpectedcreditlossratesispreparedtocalculateexpectedcreditlosses.
Notesreceivable—bankacceptedbills	Typeofbill	Basedonhistoricalcreditlossexperience,combinedwithcurrentconditionsandforecastsoffutureeconomicconditions,expectedcreditlossesarecalculatedthroughtheexposuretodefaultriskandtheexpectedcreditlossratefortheentirelifeoftheasset.
Notesreceivable—commercialacceptedbills
Accountsreceivable—relatedpartygroupwithintheconsolidatedscope	Relatedpartieswithintheconsolidatedscope
Accountsreceivable—ageinggroup	Ageing	Basedonhistoricalcreditlossexperience,combinedwithcurrentconditionsandforecastsoffutureeconomicconditions,atablecorrelatingageingofaccountsreceivablewithexpectedcreditlossratesispreparedtocalculateexpectedcreditlosses.

Agecalculationmethodforcreditriskcharacteristicsgroupbasedonageing

√Applicable□NotApplicableAgeingandExpectedCreditLossRateTableforAgeingGroup

Ageing	Accountsreceivableexpectedcreditlossrate(%)	Otherreceivablesexpectedcreditlossrate(%)
1yearorless(inclusive)	5.00	5.00
1-2years	50.00	50.00
Over2years	100.00	100.00

Theageingofaccountsreceivableandotherreceivablesiscalculatedfromthedateofinitialrecognition.

/

Provisionforbaddebtonanindividualbasis—criteriaforindividualprovisioning

√Applicable□NotApplicableForreceivablesandcontractassetswithcreditriskssignificantlydifferentfromtheportfoliocreditrisk,Autelprovidesforexpectedcreditlossesonanindividualbasis.

14.Receivablesfinancing

□Applicable√NotApplicable

15.Otherreceivables

√Applicable□NotApplicableCategoriesforprovisioningbaddebtbasedoncreditriskcharacteristicsanddeterminationbasis

√Applicable□NotApplicable

See“13.AccountsReceivable"abovefordetails.Agecalculationmethodforcreditriskcharacteristicsgroupbasedonageing

□Applicable√NotApplicableProvisioningforbaddebtonanindividualbasisandcriteriaforindividualprovisioning

□Applicable√NotApplicable

16.Inventories

√Applicable□NotApplicable

1.Classificationofinventories

Inventoriesincludefinishedgoodsormerchandiseheldforsaleintheordinarycourseofbusiness,work-in-progress,andmaterialsandsuppliesconsumedduringproductionortheprovisionofservices.

2.Valuationmethodforissuedinventories

Issuedinventoriesarevaluedusingtheweightedaveragemethod.

3.Inventorysystem

Theinventorysystemusedisaperpetualinventorysystem.

4.Amortizationmethodforlow-valueconsumablesandpackagingmaterials

/

Themethodofamortizationusedisthewrite-offmethod.

5.BasisfordeterminingnetrealizablevalueofinventoriesAtthebalancesheetdate,inventoriesaremeasuredatthelowerofcostornetrealizablevalue.Aprovisionforinventoryimpairmentisrecognizedforthedifferencebetweenthecostandthenetrealizablevalueofindividualinventories.Forinventoriesdirectlyheldforsale,thenetrealizablevalueisdeterminedbasedontheestimatedsellingpricelessestimatedsellingcostsandrelatedtaxesinthenormalcourseofproductionandbusiness.Forinventoriesthatrequireprocessing,thenetrealizablevalueisdeterminedbasedontheestimatedsellingpriceofthefinishedgoodsproduced,lessestimatedcoststocomplete,estimatedsellingexpenses,andrelatedtaxes.Atthebalancesheetdate,forinventorieswheresomeportionshavecontractualpricesandotherportionsdonot,thenetrealizablevalueisdeterminedseparatelyforeachportionandcomparedwiththeirrespectivecosts,andthecorrespondingimpairmentprovisionisrecognizedorreversedaccordingly.Recognitionstandardsandprovisioningmethodforinventoryimpairment

□Applicable√NotApplicableCategoriesforprovisioninginventoryimpairmentbasedonportfolioanddeterminationbasis

□Applicable√NotApplicableAgeing-basedcalculationmethodanddeterminationbasisfornetrealizablevalueforinventorycombinationsbyage

□Applicable√NotApplicable

17.Non-currentassetsheldforsaleordisposalgroups

□Applicable√NotApplicableRecognitionstandardsandaccountingtreatmentfornon-currentassetsheldforsaleordisposalgroups

□Applicable√NotApplicable

/

Recognitionstandardsandreportingmethodfordiscontinuedoperations

□Applicable√NotApplicable

18.Long-termequityinvestments

√Applicable□NotApplicable

1.JudgmentofjointcontrolandsignificantinfluenceJointcontrolisrecognizedwhenthereissharedcontroloveranarrangement,andtherelevantactivitiesofthearrangementcanonlybedecidedwiththeunanimousconsentoftheparticipatingpartiesholdingcontrol.Significantinfluenceisrecognizedwhentheinvestorhasthepowertoparticipateindecisionsonthefinancialandoperatingpoliciesoftheinvestee,butdoesnotcontrolorjointlycontrolthosepolicieswithotherparties.

2.Determinationofinvestmentcost

(1)Forbusinesscombinationsundercommoncontrol,theacquirer’sinitialinvestmentcostisbasedonthebookvalueoftheinvestee’sequityintheconsolidatedfinancialstatementsoftheultimatecontrollingpartyasofthemergerdate.Thedifferencebetweentheinitialinvestmentcostandthemergerconsiderationpaidorthetotalnominalvalueofsharesissuedisadjustedagainstcapitalreserve.Ifthecapitalreserveisinsufficient,theadjustmentismadeagainstretainedearnings.

IfAutelacquireslong-termequityinvestmentsinstepsthroughmultipletransactionsundercommoncontrol,thedeterminationofwhetheritconstitutesa"packagedeal"ismade.Ifitisa"packagedeal,"eachtransactionisaccountedforasasingletransactionofacquiringcontrol.Ifitisnota"packagedeal,"theinitialinvestmentcostisdeterminedbasedontheinvestee’sshareofnetassetsintheconsolidatedfinancialstatementsoftheultimatecontrollingpartyatthemergerdate.Thedifferencebetweentheinitialinvestmentcostandthebookvalueofpreviouslyheldequityinvestmentsandtheadditionalconsiderationpaidonthemergerdateisadjustedagainstcapitalreserve.Ifthecapitalreserveisinsufficient,theadjustmentismadeagainstretainedearnings.

(2)Forbusinesscombinationsnotundercommoncontrol,theinitialinvestmentcostisbasedonthefairvalueofthemergerconsiderationpaidonthepurchasedate.

Iflong-termequityinvestmentsareacquiredthroughmultipletransactionsundernon-commoncontrol,theaccountingtreatmentisdeterminedseparatelyforindividualfinancialstatementsandconsolidatedfinancialstatements:

/

1)Intheindividualfinancialstatements,theinitialinvestmentcostisthesumoftheoriginalcarryingamountoftheequityinvestmentandtheadditionalinvestmentcost.

2)Intheconsolidatedfinancialstatements,thedeterminationofwhetheritconstitutesa"packagedeal"ismade.Ifitisa"packagedeal,"eachtransactionisaccountedforasasingletransactionofacquiringcontrol.Ifitisnota"packagedeal,"thepreviouslyheldequityinvestmentsarere-measuredatfairvalueonthepurchasedate,andthedifferencebetweenthefairvalueandcarryingvalueisrecognizedasinvestmentincomeforthecurrentperiod.Othercomprehensiveincomerelatedtotheequityinvestments,suchasundertheequitymethod,isreclassifiedtocurrent-periodincome.

(3)Foracquisitionsotherthanbusinesscombinations:Cashpayments:theinitialinvestmentcostisbasedontheactualamountpaidfortheacquisition.Equitysecuritiesissued:theinitialinvestmentcostisbasedonthefairvalueoftheequitysecuritiesissued.Debtrestructuring:theinitialinvestmentcostisdeterminedinaccordancewithAccountingStandardsforEnterprisesNo.12-DebtRestructuring.Non-monetaryassetexchange:theinitialinvestmentcostisdeterminedinaccordancewithAccountingStandardsforEnterprisesNo.7-Non-MonetaryAssetExchange.

3.Subsequentmeasurementandprofit/lossrecognition

Long-termequityinvestmentswhereAutelhascontrolovertheinvesteeareaccountedforusingthecostmethod.Investmentsinassociatesandjointventuresareaccountedforusingtheequitymethod.

4.Accountingtreatmentforstepwisedisposalofsubsidiaryinvestmentuntillossofcontrol

(1)Judgmentof"packagedeal"

WhenAuteldisposesofitssubsidiaryinvestmentinmultipletransactionsuntilitlosescontrol,thejudgmentofwhetheritconstitutesa"packagedeal"ismadebyconsideringthetermsofeachtransaction,theconsiderationreceived,thepartiesinvolved,themethodofdisposal,andthetimingofdisposal.Iftheterms,conditions,andeconomicimpactofthetransactionsmeetoneormoreofthefollowingconditions,theygenerallyindicatethatthemultipletransactionsconstitutea"packagedeal":

1)Thesetransactionsareenteredintosimultaneouslyorwithconsiderationoftheirmutualeffects;

2)Thesetransactions,asawhole,mustresultinacompletecommercialoutcome;

/

3)Theoccurrenceofonetransactiondependsontheoccurrenceofatleastoneothertransaction;

4)Atransactionaloneisuneconomical,butwhenconsideredtogetherwithothertransactions,itiseconomic.

(2)Accountingtreatmentfornon-"packagedeal"

1)Individualfinancialstatements

Forthedisposedequity,thedifferencebetweenthecarryingvalueandtheconsiderationreceivedisrecognizedinthecurrentperiod’sprofitorloss.Fortheremainingequity,ifAutelstillhassignificantinfluenceorjointlycontrolstheinvestee,ittransitionstotheequitymethod.IfAutelcannolongerexercisecontrol,jointcontrol,orsignificantinfluence,theinvestmentisaccountedforinaccordancewithAccountingStandardsforEnterprisesNo.22-RecognitionandMeasurementofFinancialInstruments.

2)Consolidatedfinancialstatements

Beforelosingcontrol,thedifferencebetweenthedisposalconsiderationandtheshareofnetassetscorrespondingtothedisposedlong-termequityinvestmentisadjustedagainstcapitalreserve(capitalsurplus).Ifcapitalreserveisinsufficient,theadjustmentismadeagainstretainedearnings.

Uponlosingcontrol,theremainingequityisre-measuredatitsfairvalueonthedateoflosingcontrol.Thedisposalconsideration,combinedwiththefairvalueoftheremainingequity,minustheshareofnetassetsAutelisentitledtofromtheoriginalsubsidiarysincethepurchasedateormergerdate,isrecognizedasinvestmentincomeinthecurrentperiod,andgoodwillisadjusted.Anyothercomprehensiveincomerelatedtotheoriginalsubsidiaryequityinvestmentisreclassifiedtocurrent-periodinvestmentincome.

(3)Accountingtreatmentfor"packagedeal"

1)Individualfinancialstatements

Eachtransactionisaccountedforasasingletransactionofdisposingofthesubsidiaryandlosingcontrol.However,thedifferencebetweenthedisposalconsiderationandthecarryingvalueofthelong-termequityinvestmentforeachdisposalstepisrecognizedasothercomprehensiveincomeinindividualfinancialstatementsandreclassifiedtoprofitorlossatthepointoflosingcontrol.

2)Consolidatedfinancialstatements

Eachtransactionisaccountedforasasingletransactionofdisposingofthesubsidiaryandlosingcontrol.However,thedifferencebetweenthedisposalconsiderationandthe

/

shareofnetassetscorrespondingtothedisposedinvestmentisrecognizedasothercomprehensiveincomeintheconsolidatedfinancialstatementsandreclassifiedtoprofitorlossuponlosingcontrol.

19.Investmentproperties

(1).Costmodel：

DepreciationorAmortizationMethodNone

20.Fixedassets

(1).Recognitioncriteria

√Applicable□NotApplicableFixedassetsrefertotangibleassetsheldforthepurposeofproducinggoods,providingservices,leasing,ormanagingoperations,withausefullifeexceedingoneaccountingperiod.Fixedassetsarerecognizedwhenitisprobablethateconomicbenefitswillflowtotheentityandthecostcanbemeasuredreliably.

(2).Depreciationmethod

√Applicable□NotApplicable

Category	Depreciationmethod	Depreciationperiod(years)	Salvagevaluerate	Annualdepreciationrate
Buildingsandstructures	Straight-lineMethod	20-40	5	2.38-4.75
Electronicequipment	Straight-lineMethod	5-10	5	9.50-19.00
Transportationequipment	Straight-lineMethod	5	5	19.00
Otherequipment	Straight-lineMethod	3-5	5	19.00-31.67

21.Constructioninprogress

√Applicable□NotApplicable

1.Constructioninprogressisrecognizedwhenitisprobablethateconomicbenefitswillflowtotheentityandthecostcanbereliablymeasured.Constructioninprogressismeasuredattheactualcostsincurredbeforetheassetisreadyforitsintendeduse.

/

2.Whenconstructioninprogressisreadyforitsintendeduse,itistransferredtofixedassetsattheactualcostincurred.Ifconstructioninprogressreachesitsintendedusebutthecompletionsettlementhasnotbeenprocessed,itisfirsttransferredtofixedassetsatanestimatedvalue.Afterthecompletionsettlementisdone,thetransfervalueisadjustedtotheactualcost,butthedepreciationpreviouslyrecognizedisnotadjusted.

Category	Criteriaandtimingfortransferringconstructioninprogresstofixedassets
Machineryandequipment	Afterinstallationandcommissioning,meetsdesignrequirementsorcontractspecifications
Buildingsandstructures	Themainconstructionworkandsupportingprojectsaresubstantiallycompleted,meettheintendeddesignrequirements,andhavepassedinspection

22.Borrowingcosts

□Applicable√NotApplicable

23.Livingassets

□Applicable√NotApplicable

24.Oilandgasassets

□Applicable√NotApplicable

25.Intangibleassets

(1).UsefullifeandbasisforDetermination,EstimatedSituation,Amortization

MethodorReviewProcess

√Applicable□NotApplicable

1.Intangibleassetsincludelanduserights,patents,andnon-patentedtechnologies,whichareinitiallymeasuredatcost.

2.Forintangibleassetswithafiniteusefullife,amortizationissystematicallyrecognizedovertheirusefullifebasedontheexpectedmethodofrealizingeconomicbenefitsrelatedtotheasset.Iftheexpectedmethodcannotbereliablydetermined,thestraight-linemethodisused.Thespecificusefullivesareasfollows:

Item	UsefulLife(Years)	Basisfordetermination	Amortizationmethod
Landuserights	50	Statutoryusagerights	Straight-linemethod
Patents	10	Basedontheperiodduringwhichtheassetbrings	Straight-linemethod

/

		economicbenefitstoAutel
Trademarks	10	BasedontheperiodduringwhichtheassetbringseconomicbenefitstoAutel	Straight-linemethod
Proprietarytechnology	5	BasedontheperiodduringwhichtheassetbringseconomicbenefitstoAutel	Straight-linemethod
Software	5-10	BasedontheperiodduringwhichtheassetbringseconomicbenefitstoAutel	Straight-linemethod

(2).ScopeofR&Dexpensesandrelatedaccountingtreatment

√Applicable□NotApplicable

(1)EmployeecompensationandbenefitsEmployeecompensationandbenefitsincludethesalaries,basicpensioninsurance,basicmedicalinsurance,unemploymentinsurance,workinjuryinsurance,maternityinsurance,housingprovidentfund,andseverancebenefitsforAutel’sR&Dpersonnel.IfR&Dpersonnelworkonmultipleresearchprojects,theemployeecompensationandbenefitsareallocatedproportionallyamongthedifferentresearchprojectsbasedontheworkhourrecordsprovidedbythemanagementdepartmentforeachproject.

ForpersonneldirectlyinvolvedinR&DactivitiesorexternalR&Dpersonnelalsoinvolvedinnon-R&Dactivities,AutelallocatestheactualemployeecompensationandbenefitsbetweenR&Dexpensesandoperatingexpensesbasedonworkhourrecords,reasonableallocationmethods,andotherfactorssuchasactualworkhours.

(2)Materialconsumption

MaterialconsumptionreferstotherelatedexpensesactuallyincurredbyustoimplementR&Dactivities.Theseinclude:1)Materials,fuel,andpowercostsdirectlyconsumed;2)molds,processequipmentdevelopmentandmanufacturingcostsusedinintermediatetrialsandproductprototypes,thecostofnon-fixedassetsamples,prototypes,andgeneraltestingmeans,andinspectionfeesfortrialproducts;3)costsfortheoperation,maintenance,adjustment,inspection,testing,andrepairofinstrumentsandequipmentusedinR&Dactivities.

(3)Depreciationandamortization

Depreciationreferstothedepreciationofinstruments,equipment,andbuildingsusedinR&Dactivities.

/

Forinstruments,equipment,andbuildingsusedinbothR&Dandnon-R&Dactivities,AutelkeepsnecessaryrecordsoftheirusageandallocatestheactualdepreciationcostsbetweenR&Dexpensesandoperatingexpensesbasedonactualworkhoursandusagearea.Amortizationoflong-termprepaidexpensesreferstotheamortizationoflong-termprepaidexpensesincurredduringtherenovation,refurbishment,andrepairofR&Dfacilities,whicharegatheredbasedonactualexpendituresandamortizedoveraspecifiedperiod.

AmortizationofintangibleassetsreferstotheamortizationofintangibleassetsusedinR&Dactivities,suchassoftware,intellectualpropertyrights,andnon-patentedtechnologies(proprietarytechnologies,licenses,designs,andcalculationmethods).

(4)Rentandmanagementfees

RentandmanagementfeesprimarilyaccountforpropertymanagementandutilitycostsrelatedtoR&Dactivities.

(5)Transportationandtravelexpenses

Transportationandtravelexpensesprimarilyincludetravelexpenses,localtransportationcosts,andcarexpensesforR&Dpersonnel.

(6)EntrustedR&Dcosts

EntrustedR&DcostsrefertotheexpensesincurredbyAutelforcommissioningotherdomesticorforeigninstitutionsorindividualstoconductR&Dactivities(theresultsofwhichbelongtoAutelandarecloselyrelatedtoAutel’smainbusinessoperations).

(7)Otherexpenses

OtherexpensesrefertoanyadditionalcostsdirectlyrelatedtoR&Dactivities,includingtechnicalbookandmaterialcosts,translationfees,expertconsultingfees,high-techR&Dinsurancefees,search,demonstration,evaluation,certification,andacceptancefeesforR&Doutcomes,intellectualpropertyapplication,registration,andagencyfees,meetingfees,travelexpenses,andcommunicationfees.

4.InternalR&Dprojectcostsduringtheresearchphase.InternalR&Dprojectcostsduringtheresearchphasearerecognizedasanexpenseinthecurrentperiod.ExpendituresforinternalR&Dprojectsduringthedevelopmentphasearerecognizedasintangibleassetsiftheymeetthefollowingconditions:(1)Theintangibleassetistechnicallyfeasibleforuseorsale;(2)thereisanintentiontocompletetheintangibleassetanduseorsellit;(3)theeconomicbenefitsfromtheintangibleasset,includingevidenceofmarketfortheproductproducedusingtheintangibleasset,orfortheintangibleassetitself,ifitisintendedfor

/

internaluse;(4)sufficienttechnical,financial,andotherresourcesareavailabletocompletethedevelopmentoftheintangibleasset,andthereistheabilitytouseorsellit;(5)expendituresrelatedtothedevelopmentphaseoftheintangibleassetcanbereliablymeasured.

5.CompanystandardsforclassifyingInternalR&Dprojectexpendituresintoresearchanddevelopmentphases：

Expendituresforplannedinvestigations,evaluations,andselectionsfortheresearchofproductsareclassifiedasresearchphaseexpenses.Expendituresfordesignandtestingrelatedtothefinalapplicationoftheproductbeforemassproductionareclassifiedasdevelopmentphaseexpenses.

26.Impairmentoflong-termassets

√Applicable□NotApplicable

Forlong-termassetssuchaslong-termequityinvestments,fixedassets,constructioninprogress,right-of-useassets,andintangibleassetswithafiniteusefullife,therecoverableamountisestimatedwhentherearesignsofimpairmentonthebalancesheetdate.Forgoodwillarisingfrombusinesscombinationsandintangibleassetswithindefiniteusefullives,impairmenttestingisconductedannually,regardlessofwhetherthereareimpairmentindicators.Goodwillistestedforimpairmentinconjunctionwiththerelevantassetgrouporgroups.

Iftherecoverableamountoftheabovelong-termassetsislessthantheircarryingamount,animpairmentprovisionisrecognizedforthedifferenceandchargedtothecurrentprofitorloss.

27.Long-termprepaidexpense

√Applicable□NotApplicable

Long-termprepaidexpensesaccountforexpendituresalreadyincurredthatwillbeamortizedoveraperiodofmorethanoneyear.Thesearerecordedatactualcostsandamortizedevenlyoverthebenefitperiodorthespecifiedperiod.Ifanylong-termprepaidexpensenolongerbenefitsfutureperiods,theunamortizedbalanceoftheexpenseischargedtothecurrentperiod’sprofitorloss.

/

28.Contractassetsandliabilities

√Applicable□NotApplicableAutelrecognizescontractassetsorliabilitiesinthebalancesheetbasedontherelationshipbetweentheperformanceobligationsandcustomerpayments.Contractassetsandcontractliabilitiesunderthesamecontractareoffsetandpresentedattheirnetamount.

Autelrecognizesunconditionalrightstoreceiveconsiderationfromcustomersasreceivablesandrecognizestherighttoreceiveconsiderationforgoodstransferredtocustomers(dependentonfactorsotherthanthepassageoftime)ascontractassets.

Contractliabilitiesarerecognizedforobligationstotransfergoodstocustomersinexchangeforconsiderationthathasbeenreceivedorisreceivable.

29.Employeebenefits

(1).Accountingtreatmentforshort-termcompensation

√Applicable□NotApplicable

Short-termcompensationisrecognizedasaliabilityintheperiodinwhichtheservicesareprovidedbyemployeesandchargedtothecurrentprofitorlossorrelatedassetcost.

(2).Accountingtreatmentforpost-employmentbenefits

√Applicable□NotApplicable

Post-employmentbenefitsaredividedintodefinedcontributionplansanddefinedbenefitplans.

(1)Fordefinedcontributionplans,theamounttobecontributedisrecognizedasaliabilityintheperiodtheemployeeprovidesservicesandchargedtothecurrentprofitorlossorrelatedassetcost.

(2)Fordefinedbenefitplans,theaccountingtreatmentgenerallyincludesthefollowingsteps：

1)Usingtheexpectedaccumulatedbenefitsmethod,estimatesaremadefordemographicvariablesandfinancialvariables,withactuarialassumptionsthatareunbiasedandinternallyconsistent.Theobligationsunderthedefinedbenefitplansaremeasured,andtheperiodsinwhichtherelatedobligationsfallaredetermined.Theobligationsarethendiscountedtodeterminethepresentvalueoftheobligationsandthecurrentservicecost.

2)Ifthedefinedbenefitplanhasassets,thedeficitorsurplusisrecognizedasanetliabilityornetasset,determinedbysubtractingthefairvalueoftheplanassetsfromthe

/

presentvalueoftheplanobligations.Ifthereisasurplusinthedefinedbenefitplan,thenetassetismeasuredasthelowerofthesurplusortheupperlimitoftheassetsintheplan.

3)Attheendoftheperiod,thecostofemployeebenefitsarisingfromthedefinedbenefitplanisrecognizedasservicecost,netinterestonthenetliabilityornetasset,andre-measurementchangesofthenetliabilityornetasset.Theservicecostandthenetinterestonthenetliabilityornetassetarechargedtocurrentprofitorlossorrelatedassetcost,andthere-measurementchangesarechargedtoothercomprehensiveincome,whichcannotbereclassifiedtoprofitorlossinsubsequentperiods,buttheamountsrecognizedinothercomprehensiveincomemaybetransferredwithinequity.

(3).Accountingtreatmentforterminationbenefits

√Applicable□NotApplicable

Terminationbenefitsprovidedtoemployeesarerecognizedasanemployeecompensationliabilityandchargedtocurrentprofitorlosswhentheearlierofthefollowingoccurs:(1)Autelcannolongerwithdrawtheterminationbenefitsduetotheterminationordownsizingplan;(2)Autelrecognizesthecostsorexpensesrelatedtoarestructuringthatinvolvesthepaymentofterminationbenefits.

(4).Accountingtreatmentforotherlong-termemployeebenefits

√Applicable□NotApplicable

Forotherlong-termbenefitsprovidedtoemployees,thosethatmeettheconditionsforadefinedcontributionplanareaccountedforinaccordancewiththerelatedregulations.Forotherlong-termbenefitsnotmeetingtheseconditions,theaccountingtreatmentfollowstheguidelinesfordefinedbenefitplans.Thetotalnetamountoftheemployeebenefitscost,netinterestonthenetliabilityornetasset,andre-measurementchangesofthenetliabilityornetassetarerecognizedasservicecosts,withthechangesaccountedforinthecurrentprofitorlossorrelatedassetcost.

30.Provisions

√Applicable□NotApplicable

1.Aprovisionforobligationsarisingfromcontingenteventssuchasguarantees,litigationmatters,productwarranties,losscontracts,andreturns,isrecognizedwhentheobligationbecomesapresentobligationofAutel,andthesettlementoftheobligationis

/

likelytoresultinanoutflowofeconomicbenefitsfromAutel,andtheamountoftheobligationcanbereliablymeasured.

2.Autelinitiallymeasuresprovisionsbasedonthebestestimateoftheexpendituresrequiredtosettlethepresentobligationandreviewsthecarryingvalueoftheprovisiononthebalancesheetdate.

31.Share-basedpayments

√Applicable□NotApplicable

1.Typesofshare-basedpayments

Share-basedpaymentsincludeequity-settledshare-basedpaymentsandcash-settledshare-basedpayments.

2.Accountingtreatmentfortheimplementation,modification,andterminationofShare-basedpaymentplans

(1)Equity-settledshare-basedpayments

Forequity-settledshare-basedpaymentsthatareexercisableimmediatelyafterthegrantdateinexchangeforemployeeservices,thefairvalueoftheequityinstrumentsisrecognizedasrelatedcostsorexpensesonthegrantdate,withthecorrespondingadjustmenttocapitalreserve.Forequity-settledshare-basedpaymentswhereemployeesmustcompleteawaitingperiodormeetspecificperformanceconditionsbeforebecomingexercisable,theservicereceivedduringthewaitingperiodisrecognizedascostsorexpensesbasedonthebestestimateofthenumberofexercisableequityinstruments,usingthefairvalueoftheequityinstrumentsonthegrantdate.Thecorrespondingadjustmentismadetocapitalreserve.

Equity-settledshare-basedpaymentsinexchangeforservicesfromotherparties,ifthefairvalueoftheotherparty’sservicescanbereliablymeasured,aremeasuredatthefairvalueoftheservicesonthedatereceived;ifthefairvalueoftheservicescannotbereliablymeasured,butthefairvalueoftheequityinstrumentscanbereliablymeasured,theyaremeasuredatthefairvalueoftheequityinstrumentsonthedatetheservicesarereceived,andthecorrespondingcostsorexpensesarerecognized,withthecorrespondingincreaseinequity.

(2)Cash-settledshare-basedpayments

Forcash-settledshare-basedpaymentsexercisableimmediatelyafterthegrantdateinexchangeforemployeeservices,thefairvalueoftheliabilityassumedbyAutelis

/

recognizedasrelatedcostsorexpensesonthegrantdate,withthecorrespondingincreaseinliabilities.Forcash-settledshare-basedpaymentsthatrequireemployeestocompleteawaitingperiodormeetspecificperformanceconditionsbeforebecomingexercisable,theservicereceivedduringthewaitingperiodisrecognizedascostsorexpensesbasedonthebestestimateofexercisability,usingthefairvalueoftheliabilityassumedbyAutel.

(3)Modificationandterminationofshare-basedpaymentplansIfthemodificationincreasesthefairvalueofthegrantedequityinstruments,Autelrecognizesanincreaseintheservicereceivedbasedontheincreaseinthefairvalueoftheequityinstruments.Ifthemodificationincreasesthenumberofequityinstrumentsgranted,werecognizeanincreaseintheservicereceivedbasedontheincreaseinthefairvalueoftheadditionalequityinstruments.IfAutelmodifiestheexercisabilityconditionsinawaythatisbeneficialtotheemployees,themodifiedexercisabilityconditionswillbeconsideredwhenprocessingtheexercisabilityconditions.

Ifthemodificationdecreasesthefairvalueofthegrantedequityinstruments,wecontinuetorecognizetheservicereceivedbasedonthefairvalueoftheequityinstrumentsonthegrantdate,withoutconsideringthedecreaseinthefairvalue.Ifthemodificationdecreasesthenumberofequityinstrumentsgranted,thedecreaseistreatedasacancellationofthegrantedequityinstruments.Ifthemodificationtotheexercisabilityconditionsisunfavorabletotheemployees,themodifiedexercisabilityconditionsarenotconsideredwhenprocessingtheexercisabilityconditions.

IfAutelcancelsthegrantedequityinstrumentsduringthewaitingperiodorsettlesthegrantedequityinstruments(exceptwhentheinstrumentsarecanceledduetounmetexercisabilityconditions),thecancellationorsettlementistreatedasacceleratedexercisability,andtheamountthatwouldhavebeenrecognizedduringtheremainingwaitingperiodisimmediatelyrecognized.

32.Preferredshares,perpetualbonds,andotherfinancialinstruments

□Applicable√NotApplicable

33.revenue

1.Revenuerecognitionprinciple

/

Atthecontractinceptiondate,Autelassessesthecontract,identifiestheindividualperformanceobligationsincludedinthecontract,anddetermineswhethereachperformanceobligationissatisfiedoveraperiodoftimeoratapointintime.Revenueisrecognizedovertimeifanyofthefollowingconditionsaremet;otherwise,itisrecognizedatapointintime:(1)Thecustomersimultaneouslyreceivesandconsumesthebenefitsprovidedbyourperformanceasweperform;(2)thecustomercontrolsthework-in-progressgoodsduringourperformance;(3)thegoodsproducedbyAutelduringperformancehavenoalternativeuse,andAutelhastherighttoreceivepaymentfortheportionoftheperformancecompletedtodateduringthecontractperiod.

Forperformanceobligationssatisfiedovertime,Autelrecognizesrevenuebasedontheprogresstowardcompletionduringtheperiod.Iftheprogressofcompletioncannotbereliablydetermined,revenueisrecognizedbasedonthecostsincurred,totheextentthattheyareexpectedtoberecoverable,untiltheprogresscanbereliablydetermined.Forperformanceobligationssatisfiedatapointintime,revenueisrecognizedwhenthecustomerobtainscontroloftherelevantgoodsorservices.Indeterminingwhetherthecustomerhasobtainedcontrolofthegoods,Autelconsidersthefollowingindicators:(1)Autelhasapresentrighttocollectpaymentforthegoods,i.e.,thecustomerhasanobligationtopayforthegoods;(2)Thelegalownershipofthegoodshasbeentransferredtothecustomer,i.e.,thecustomerhaslegalownershipofthegoods;(3)thephysicalgoodshavebeentransferredtothecustomer,i.e.,thecustomerhaspossessionofthegoods;(4)thesignificantrisksandrewardsofownershipofthegoodshavebeentransferredtothecustomer,i.e.,thecustomerhasobtainedthemainrisksandrewardsofownership;(5)thecustomerhasacceptedthegoods;(6)otherindicatorsthatthecustomerhasobtainedcontrolofthegoods.

2.Revenuemeasurementprinciple

(1)Autelmeasuresrevenuebasedonthetransactionpriceallocatedtoeachperformanceobligation.ThetransactionpriceistheamountofconsiderationthatAutelexpectstoreceivefortransferringgoodsorservicestothecustomer,excludingamountscollectedonbehalfofthirdpartiesandamountsexpectedtoberefundedtothecustomer.

(2)Whenthecontractincludesvariableconsideration,estimatesthebestpossibleamountofvariableconsiderationbasedoneithertheexpectedvalueorthemostlikelyamount,butthetransactionpriceincludingvariableconsiderationshouldnotexceedthe

/

amountofrevenuethatishighlylikelynottobereversedoncetherelateduncertaintyisresolved.

(3)Whenthecontractcontainsasignificantfinancingcomponent,wedeterminethetransactionpricebasedontheamountpayablebythecustomerasifpaymentforthegoodsorservicesweremadeincashatthetimethecustomerobtainscontrol.Thedifferencebetweenthetransactionpriceandthecontractconsiderationisamortizedusingtheeffectiveinterestmethodoverthecontractterm.Ifweexpectthecustomertoobtaincontrolofthegoodsorservicesandthepaymentintervalisnolongerthanoneyear,thesignificantfinancingcomponentisnotconsidered.

(4)Whenthecontractincludestwoormoreperformanceobligations,theCompanyallocatesthetransactionpricetoeachperformanceobligationbasedontherelativestandalonesellingpricesofthegoodsorservicespromisedinthecontract.

3.Specificrevenuerecognitionmethods

Autel'ssalesofgoodsmainlyincludesalesofautomotiveintegrateddiagnosticproducts,TPMSandADASproducts,automotiveelectroniccomponents,andnewenergyproducts.Additionally,theCompanyprovidessoftwarecloudservicesfortheseproducts.Thespecificrevenuerecognitionmethodsforeachtypeofbusinessareasfollows:

(1)Saleofgoods

Autel'sproductsalesareperformanceobligationssatisfiedatapointintime.Revenueisrecognizedwhentheproductisdeliveredtothepurchaserortheirdesignatedagent,thecustomerconfirmsreceiptoftheproductorcompletesthecustomsclearanceandobtainsthebilloflading,paymentisreceived,ortherighttocollectpaymentisestablished,anditishighlyprobablethattherelatedeconomicbenefitswillflowtoAutel.

(2)Softwarecloudservices

ThesoftwarecloudservicesprovidedbyAutelareperformanceobligationssatisfiedovertime.Revenueisrecognizedbasedontheproportionofservicesprovidedrelativetothetotalserviceperiodagreeduponinthecontract.

34.Contractcosts

√Applicable□NotApplicable

Autelrecognizestheincrementalcostsincurredtoobtainacontractasanasset,providedthatthecostsareexpectedtoberecoverable.Iftheamortizationperiodofcontract

/

acquisitioncostsdoesnotexceedoneyear,thesecostsaredirectlyrecognizedinthecurrentprofitorlosswhenincurred.Autelrecognizesasanassetthecostsincurredtofulfillacontract,providedthesecostsdonotfallunderthescopeofinventory,fixedassets,orintangibleassets,andthefollowingconditionsaremet:

1.Thecostsaredirectlyrelatedtoacurrentorexpectedcontract,includingdirectlabor,directmaterials,manufacturingcosts(orsimilarexpenses),costsexplicitlybornebythecustomer,andothercostsincurredsolelyduetothecontract;

2.ThecostsincreasetheresourcestheCompanywillusetofulfillitsperformanceobligationsinthefuture;

3.Thecostsareexpectedtoberecoverable.

Autelamortizesassetsrelatedtocontractcostsbasedonthesamebasisastherecognitionofrevenuefortherelatedgoodsorservices,andtheamortizationisrecognizedinthecurrentprofitorloss.

Ifthecarryingvalueofanassetrelatedtocontractcostsexceedstheexpectedremainingconsiderationthatcouldbeobtainedfromtransferringtherelatedgoodsorservices,minustheestimatedcoststobeincurred,Autelrecognizesanimpairmentprovisionfortheexcess,whichisrecordedasanimpairmentloss.Ifthefactorscausingimpairmentchangeinfutureperiods,resultinginanexpectedhigherremainingconsiderationforthetransferredgoodsorservices,thepreviouslyrecognizedimpairmentprovisionisreversedandincludedinthecurrentprofitorloss,butthecarryingvalueoftheassetafterreversalshallnotexceedwhatthecarryingvaluewouldhavebeenwithouttheimpairmentprovision.

35.Governmentgrants

√Applicable□NotApplicable

1.Governmentgrantsarerecognizedwhenbothofthefollowingconditionsaremet:

(1)Thecompanycanmeettheconditionsattachedtothegovernmentgrant;(2)Thecompanyisabletoreceivethegovernmentgrant.Forgovernmentgrantsintheformofmonetaryassets,thegrantismeasuredattheamountreceivedorreceivable.Forgovernmentgrantsintheformofnon-monetaryassets,theyaremeasuredatfairvalue;ifthefairvaluecannotbereliablyobtained,theyaremeasuredatnominalvalue.

2.Judgmentbasisandaccountingtreatmentofgovernmentgrantsrelatedtoassets

/

Governmentgrantsthataredesignatedfortheacquisitionorformationoflong-termassets,aspergovernmentregulations,areclassifiedasgovernmentgrantsrelatedtoassets.Ifgovernmentdocumentsarenotspecific,thebasicconditionsforobtainingthegrantareusedtodeterminewhetheritisrelatedtoanasset.Ifthegrantisrelatedtoanasset,itisdeductedfromthecarryingvalueoftherelatedassetorrecognizedasdeferredincome.Deferredincomeisamortizedovertheusefullifeoftherelatedasset,usingareasonableandsystematicmethod.Governmentgrantsmeasuredatnominalvaluearedirectlyrecognizedinthecurrentprofitorloss.Iftherelatedassetissold,transferred,scrapped,orimpairedbeforetheendofitsusefullife,theunamortizedbalanceofdeferredincomeistransferredtotheprofitorlossfortheperiodofassetdisposal.

3.Judgmentbasisandaccountingtreatmentofgovernmentgrantsrelatedtoincome

Governmentgrantsotherthanthoserelatedtoassetsareclassifiedasgovernmentgrantsrelatedtoincome.Forgovernmentgrantsthatincludebothasset-relatedandincome-relatedportions,ifitisdifficulttodistinguishbetweenthem,theentiregrantisclassifiedasincome-related.Governmentgrantsrelatedtoincome,intendedtocompensateforfuturecostsorlosses,arerecognizedasdeferredincome,andtherelevantamountsarerecognizedasincomeduringtheperiodwhenthecostsorlossesarerecognized.Ifthegrantsareforcostsorlossesalreadyincurred,theyarerecognizeddirectlyinthecurrentprofitorlossordeductedfromtherelatedcosts.

4.GovernmentgrantsrelatedtoAutel'sdailyoperatingactivitiesarerecognizedasotherincomeordeductedfromrelatedcostsandexpensesbasedonthesubstanceoftheeconomictransaction.GovernmentgrantsunrelatedtoAutel'sdailyoperationsarerecognizedasnon-operatingincome.

5.Accountingtreatmentforsubsidizedloans

(1)Ifthegovernmentallocatesinterestsubsidiestothelendingbank,whichthenprovidestheloantoAutelatapolicy-basedpreferentialinterestrate,theactualloanamountreceivedisrecognizedasthevalueoftheloan,withrelevantborrowingcostscalculatedbasedontheprincipalandthepolicy-basedpreferentialinterestrate.

(2)IfthegovernmentdirectlyallocatestheinterestsubsidytoAutel,thecorrespondingsubsidyamountisdeductedfromtherelevantborrowingcosts.

36.Leases

√Applicable□NotApplicable

/

Judgmentbasisandaccountingtreatmentforshort-Termleasesandlow-valueassetleasesaslessee

√Applicable□NotApplicable

Attheleasecommencementdate,Autelrecognizesleasesasshort-termleasesiftheleasetermis12monthsorlessanddoesnotincludeapurchaseoption.Leasesoflow-valueassetitems(suchasnewassetswithrelativelylowvalue)arerecognizedaslow-valueassetleases.IfAutelsubleasesorexpectstosubleaseleasedassets,theoriginalleaseisnotrecognizedasalow-valueassetlease.

Forallshort-termleasesandlow-valueassetleases,Autelrecognizesleasepaymentsaspartofrelatedassetcostsorcurrentperiodprofitorlossonastraight-linebasisovertheleaseterm.

Exceptfortheabove-mentionedsimplifiedshort-termleasesandlow-valueassetleases,Autelrecognizesaright-of-useassetandleaseliabilityattheleasecommencementdate.

(1)Right-of-useassets

Right-of-useassetsareinitiallymeasuredatcost,whichincludes:1)Theinitialmeasurementamountoftheleaseliability;2)leasepaymentsmadeatorbeforethecommencementdate,lessanyleaseincentivesreceived;3)initialdirectcostsincurredbythelessee;4)estimatedcoststodismantleandremoveleasedassets,restoretheleasedpremises,orreturnleasedassetstotheconditionrequiredbytheleaseterms.

Auteldepreciatesright-of-useassetsonastraight-linebasis.Ifitisreasonablycertainthatownershipoftheleasedassetwillbeobtainedattheendoftheleaseterm,Auteldepreciatestheassetoveritsremainingusefullife.Ifitisnotreasonablycertainthatownershipwillbeobtained,Auteldepreciatestheassetovertheshorteroftheleasetermortheasset’sremainingusefullife.

(2)Leaseliabilities

Attheleasecommencementdate,Autelrecognizesthepresentvalueoftheunpaidleasepaymentsasaleaseliability.Theleasepayments’presentvalueiscalculatedusingtheinterestrateimplicitinthelease.Iftheinterestrateimplicitintheleasecannotbedetermined,theCompanyusesitsincrementalborrowingrateasthediscountrate.Thedifferencebetweentheleasepaymentsandtheirpresentvalueisrecordedasunrecognizedfinancecharges.Autelrecognizesinterestexpenseontheleaseliabilityforeachperiodbasedonthediscountrateusedtodeterminetheleasepayments,andthisischargedtothe

/

currentprofitorloss.Variableleasepaymentsnotincludedinthemeasurementofleaseliabilitiesarerecognizedintheprofitorlosswhenincurred.Aftertheleasecommencementdate,iftherearechangesinfixedpaymentamounts,expectedamountspayableduetoresidualvalueguarantees,changesinindicesorratesusedtodetermineleasepayments,orchangesintheassessmentorexerciseofpurchaseoptions,renewaloptions,orterminationoptions,Autelwillre-measuretheleaseliabilityatthepresentvalueoftherevisedleasepaymentsandadjustthecarryingvalueoftheright-of-useassetaccordingly.Ifthecarryingvalueoftheright-of-useassetisreducedtozero,buttheleaseliabilitystillrequiresfurtheradjustment,theremainingamountwillberecognizedinthecurrentprofitorloss.Classificationandaccountingtreatmentofleasesaslessor

√Applicable□NotApplicable

OperatingleasesForoperatingleases,Autelrecognizesrentalincomefromleasepaymentsonastraight-linebasisovertheleaseterm.Initialdirectcostsincurredarecapitalizedandamortizedonthesamebasisastherentalincomeisrecognized,chargedtothecurrentprofitorloss.Variableleasepaymentsnotincludedintheleasereceiptsarerecognizedintheprofitorlosswhenincurred.

37.Deferredincometaxassets/liabilities

√Applicable□NotApplicable

1.Deferredincometaxassetsorliabilitiesarerecognizedbasedonthedifferencesbetweenthecarryingamountofassetsandliabilitiesandtheirtaxbases(foritemsnotrecognizedasassetsandliabilities,ifthetaxbasiscanbedeterminedaccordingtotaxlaws,thedifferencebetweenthetaxbasisandthecarryingamountisconsidered).Deferredincometaxassetsorliabilitiesarecalculatedusingtheapplicabletaxratefortheperiodduringwhichtheassetisexpectedtoberecoveredortheliabilityisexpectedtobesettled.

2.Deferredincometaxassetsarerecognizedtotheextentthatitisprobablethattaxableincomewillbeavailableinthefuturetooffsetthedeductibletemporarydifferences.Ifthereissufficientevidenceonthebalancesheetdatethattaxableincomewilllikelybeavailableinfutureperiodstooffsetdeductibletemporarydifferences,deferredincometaxassetsthatwerenotpreviouslyrecognizedinpriorperiodsarerecognized.

/

3.Atthebalancesheetdate,thecarryingvalueofdeferredincometaxassetsisreviewed.Ifitislikelythatsufficienttaxableincomewillnotbeavailabletoutilizethedeferredincometaxassets,thecarryingvalueofthedeferredincometaxassetsisreduced.Anyreductionisreversedifitbecomeslikelythatsufficienttaxableincomewillbeavailabletousethedeferredincometaxassets.

4.Currentincometaxanddeferredincometaxesarerecognizedasincometaxexpenseorincomeinthecurrentperiod,excludingtaxesarisingfromthefollowing:(1)businesscombinations;(2)transactionsoreventsdirectlyrecognizedinequity.

5.Auteloffsetsdeferredincometaxassetsanddeferredincometaxliabilitiesandpresentsthemattheirnetamountifbothofthefollowingconditionsaremet:(1)Autelhasalegalrighttooffsetcurrentincometaxassetsandcurrentincometaxliabilities;(2)thedeferredincometaxassetsandliabilitiesrelatetoincometaxesleviedbythesametaxationauthorityonthesametaxpayer,oriftheyrelatetodifferenttaxpayers,Autelintendstooffsetthecurrentincometaxassetsandliabilitiesinthefutureduringeachperiodinwhichsignificantdeferredincometaxassetsandliabilitieswillbereversed.

38.Othersignificantaccountingpoliciesandestimates

√Applicable□NotApplicable

1.Accountingtreatmentforrepurchasedcompanyshares

WhenAutelrepurchasesitsownsharesforreasonssuchasreducingregisteredcapitalorrewardingemployees,therepurchasedsharesaretreatedastreasurystockattheactualamountpaid,andamemorandumentryismade.Iftherepurchasedsharesarecanceled,thedifferencebetweenthetotalparvalueofthecanceledshares(calculatedastheparvaluepersharemultipliedbythenumberofsharescanceled)andtheactualamountpaidfortherepurchaseisdeductedfromcapitalreserve.Ifcapitalreserveisinsufficienttocoverthedifference,retainedearningsarereduced.Iftherepurchasedsharesaregiventoemployeesaspartofanequity-settledshare-basedpaymentplan,thetreasurystockcostandaccumulatedcapitalreserve(othercapitalreserve)forthewaitingperiodarewrittenoffwhentheemployeesexercisetheoptiontopurchaseAutel'sshares,andanydifferenceisadjustedagainstcapitalreserve(sharepremium).

2.Incometaxanddeferredincometaxassets

Autelpayscorporateincometaxinmultipleregions.Inthecourseofnormalbusinessactivities,thefinaltaxtreatmentofcertaintransactionsanditemsisuncertain.Significant

/

judgmentsarerequiredwhenestimatingincometaxexpensesindifferentregions.IfthefinaltaxtreatmentdiffersfromtheCompany’sestimates,thedifferencewillaffecttheamountofincometaxexpenseanddeferredincometaxassetsrecognizedintheperiodinwhichthefinaldeterminationismade.

39.Changesinsignificantaccountingpoliciesandaccountingestimates

(1).Changesinsignificantaccountingpolicies

√Applicable□NotApplicable

1.AutelimplementedtheInterpretationNo.17oftheAccountingStandardsforEnterprisesissuedbytheMinistryofFinancestartingfromJanuary1,2024.ThischangeinaccountingpolicyhasnoimpactonAutel'sfinancialstatements.

2.AutelimplementedtheInterpretationNo.18oftheAccountingStandardsforEnterprisesissuedbytheMinistryofFinance,whichaddressestheaccountingtreatmentofwarranty-typequalityguaranteesthatarenotaseparateperformanceobligation,startingfromJanuary1,2024.Autelalsoretrospectivelyadjustedcomparableperiodinformation.Thespecificadjustmentsareasfollows:

Unit:RMB

Affectedfinancialstatementitems	Amountofimpact	Notes
2023incomestatementitems
Operatingcosts	6,731,780.73
Salesexpenses	-6,731,780.73

OthernotesNone

(2).Changesinsignificantaccountingestimates

□Applicable√NotApplicable

(3).First-timeadoptionofnewaccountingstandardsorinterpretationsin2024,

involvingadjustmentstothefinancialstatementsatthebeginningoftheyear

□Applicable√NotApplicable

/

40.Other

□Applicable√NotApplicableVITaxes

1.MaintaxesandtaxratesMaintaxesandtaxratessituation

√Applicable□NotApplicable

Taxtypes	Taxbase	Taxrates
ValueAddedTax(VAT)	TheoutputVATiscalculatedbasedonthesalesofgoodsandtaxableserviceincomeasdefinedbytaxlaw,withthedeductibleinputVATforthecurrentperiodsubtracted.ThedifferenceistheVATpayable.	Thetaxiscalculatedatratesof5%,6%,9%,10%,13%,16%,19%,20%,21%,22%,and25%.TheCompanyimplementsthe"exemption,offset,refund"taxpolicyforexportedgoods,withtherefundrateaccordingtorelevantpolicies.
PropertyTax	Forpropertytax,ifitisleviedbasedontheproperty’svalue,thetaxiscalculatedat1.2%oftheremainingvalueafteraone-timedeductionof20%or30%oftheoriginalpropertyvalue.Forrentalpropertytax,thetaxiscalculatedat12%oftherentalincome.	1.2%、12%
UrbanMaintenanceandConstructionTax	Theactualpaidturnovertaxamount.	7%
EducationSurcharge	Theactualpaidturnovertaxamount.	3%
LocalEducationSurcharge	Theactualpaidturnovertaxamount.	2%
CorporateIncomeTax	Thetaxableincomeforcorporateincometax.	0%,10%,15%,25%,etc.

Disclosureofdifferentcorporateincometaxratesfortaxableentities

√Applicable□NotApplicable

Taxableentitynames	Corporateincometaxrates(%)
AutelCalifornia	Federalcorporateincometaxiscalculatedatarateof21%.Itisalsorequiredtofilecorporateincometaxreturnsattheapplicabletaxratesinstateswhereactualbusinessoperationsareconducted.

/

AutelNewYork	Federalcorporateincometaxiscalculatedatarateof21%.Itisalsorequiredtofilecorporateincometaxreturnsattheapplicabletaxratesinstateswhereactualbusinessoperationsareconducted.
AutelNewEnergyUS	Federalcorporateincometaxiscalculatedatarateof21%.Itisalsorequiredtofilecorporateincometaxreturnsattheapplicabletaxratesinstateswhereactualbusinessoperationsareconducted.
AutelGermany	Federalcorporateincometaxiscalculatedatarateof15%,alongwitha5.5%solidaritysurcharge(taxbaseistheamountoffederalcorporateincometax),andabusinesstax(3.5%standardrateadjustedaccordingtothelocalcollectionmultiplier).
AutelJapan	Incometaxiscalculatedatarateof23.2%.
AutelItaly	Incometaxiscalculatedatarateof24%.
AutelMexico	Incometaxiscalculatedatarateof30%.
AutelBrazil	Incometaxiscalculatedatarateof34%.
AutelUK,AutelSmartUK	ProfitsexceedingGBP250,000aretaxedatarateof25%(effectivefromApril1,2023);profitsnotexceedingGBP50,000aretaxedatasmallprofitsrateof19%(effectivefromApril1,2023).
AutelNetherlands	TaxableamountsuptoEUR200,000aretaxedatarateof19%;amountsexceedingthetaxableamountaretaxedatarateof25.8%.
AutelFrance	Incometaxiscalculatedatarateof25%.
AutelAustralia	Incometaxiscalculatedatarateof30%.
AutelSweden	Incometaxiscalculatedatarateof20.6%.
AutelSpain	Incometaxiscalculatedatarateof25%.

2.Taxincentives

√Applicable□NotApplicable

1.ValueAddedTax(VAT)

(1)SoftwarecompanytaxincentivesAccordingtotheNoticeonVATPoliciesforSoftwareProducts(Caishui[2011]No.100)andtheNoticeonAdjustingVATRates(Caishui[2018]No.32),thesubsidiaryAutelHesheng,whichsellsself-developedsoftwareproducts,issubjecttoVATattheprescribedrate.FortheportionofVATexceeding3%,theimmediaterefundpolicyisapplied.

/

(2)AccordingtotheNoticeontheComprehensiveLaunchofVATReformPilotforBusinessTax(Caishui[2016]No.36),thesubsidiariesAutelHunanandAutelXi'anTechnologyDevelopmentServicesareeligibleforVATexemption.

2.Corporateincometax

(1)High-techenterprisetaxincentives

Accordingtotherelevantregulationsfortherecognitionofhigh-techenterprises,Autelwasrecognizedasahigh-techenterprisein2023andenjoysacorporateincometaxincentivepolicywitha15%taxratefrom2023to2025.

ThesubsidiaryAutelDigitalPowerwasrecognizedasahigh-techenterprisein2022andenjoysacorporateincometaxincentivepolicywitha15%taxratefrom2022to2024.

(2)Softwarecompanytaxincentives

AccordingtotheAnnouncementonCorporateIncomeTaxPoliciesforPromotingHigh-QualityDevelopmentoftheIntegratedCircuitandSoftwareIndustries(MinistryofFinance,StateTaxationAdministration,NationalDevelopmentandReformCommission,MinistryofIndustryandInformationTechnologyAnnouncementNo.45of2020),keysoftwareenterprisesencouragedbythestateareexemptfromcorporateincometaxforthefirstfiveyearsfromtheyearofprofitgeneration,andthetaxrateisreducedto10%insubsequentyears.ThesubsidiaryAutelHeshengpassedthenationalrecognitionasakeysoftwareenterprisein2024andwastaxedata10%ratein2024.

(3)Smallandmicroenterprisetaxincentives

AccordingtotheAnnouncementonFurtherSupportingtheDevelopmentofSmallandMicroEnterprisesandIndividualIndustrialandCommercialHouseholds(MinistryofFinance,StateTaxationAdministrationAnnouncementNo.12of2023),thesubsidiariesYingtongPropertyManagement,HainanChizhuo,andAutelHexinmetthecriteriaforsmallandmicroenterprisesin2024,withtaxableincomebelowRMB1million.Theirincomewasreducedby25%fortaxableincome,andcorporateincometaxwaspaidata20%taxrate.

(4)TaxincentivesforsubsidiaryAutelVietnam.AutelVietnamappliesthelocaltaxincentivesoftwo-yearexemptionandfour-yearhalf-ratereduction(calculatedfromthetimeofgeneratingprofits,withamaximumperiodof3years).AutelVietnamstartedgeneratingprofitsin2019,andin2024,itbenefitedfromahalf-ratetaxreduction,payingcorporateincometaxata10%rate.

/

(5)TaxincentivesforsubsidiaryAutelNewEnergyVietnam.Itiseligibleforafour-yearexemptionandnine-yearhalf-ratepolicy(corporateincometaxexemptionforfouryearssincebecomingprofitableandhalftaxrateforthesubsequentnineyears).AndsinceAutelNewEnergyVietnamstartedgeneratingprofitsin2022,nocorporateincometaxwaspayablein2024.

(6)ThebusinessofAutelHongKongisconsideredoffshore,soitisnotrequiredtopaycorporateincometax.

(7)AutelDubaibenefitedfromthelocaltaxincentivesandwasnotrequiredtopaycorporateincometaxin2024.

3.Otherinformation

□Applicable√NotApplicableVIINotestotheConsolidatedFinancialStatements

1.Monetaryassets

√Applicable□Notapplicable

Unit:RMB

Item	Closingbalance	Openingbalance
Cashonhand	1,937,347.68	3,695,461.41
Bankdeposits	1,672,018,175.31	1,429,542,881.83
Othermonetaryassets	154,720,525.70	57,892,312.60
Total	1,828,676,048.69	1,491,130,655.84
Ofwhich:Totalamountdepositedoverseas	363,503,724.29	479,913,068.74

Otherinformation:

Asattheendoftheperiod,thereweresecuritydepositsofRMB7,500.00andfrozenfundsofRMB3,892,370.84inbankdeposits.OthermonetaryassetsincludedcustomsdepositsofRMB27,417,089.32,billdepositsofRMB84,885,705.74,guaranteedepositsofRMB2,019,146.72,andanAppleStoreaccountbalanceofRMB495,701.21.Theuseoftheabovemonetaryassetswasrestricted.

2.Held-for-tradingfinancialassets

□Applicable√Notapplicable

/

3.Derivativefinancialassets

□Applicable√Notapplicable

4.Notesreceivable

(1)Notesreceivablelistedbycategory

√Applicable□Notapplicable

Unit:RMB

Item	Closingbalance	Openingbalance
Bankacceptancebills	4,926,365.63	5,583,852.00
Total	4,926,365.63	5,583,852.00

(2)Notesreceivableinpledgeasattheendoftheperiod

□Applicable√Notapplicable

(3)NotesreceivableendorsedbytheCompanyordiscountedandnotdueonthebalancesheetdateasattheendoftheperiod

□Applicable√Notapplicable

(4)Breakdownbymethodofestablishingbaddebtprovisions

√Applicable□Notapplicable

Unit:RMB

Type	Closingbalance					Openingbalance
	Grossamount		Baddebtprovision		Carryingamount	Grossamount		Baddebtprovision		Carryingamount
	Amount	Percentage(%)	Amount	Provisionpercentage(%)		Amount	Percentage(%)	Amount	Provisionpercentage(%)
Baddebtprovisionestablishedonagroupingbasis	4,926,365.63	100.00			4,926,365.63	5,583,852.00	100.00			5,583,852.00
Ofwhich:
Bankacceptancebills	4,926,365.63	100.00			4,926,365.63	5,583,852.00	100.00			5,583,852.00
Total	4,926,365.63	100.00			4,926,365.63	5,583,852.00	100.00			5,583,852.00

Baddebtprovisionestablishedonanindividualbasis:

□Applicable√NotapplicableBaddebtprovisionestablishedonagroupingbasis:

√Applicable□NotapplicableItem:Bankacceptancebills

/

Unit:RMB

Item	Closingbalance
	Notesreceivable	Baddebtprovision	Provisionpercentage(%)
Bankacceptancebills	4,926,365.63
Total	4,926,365.63

Notes:

□Applicable√NotapplicableBaddebtprovisionestablishedusingthegeneralmodelofexpectedcreditloss:

□Applicable√NotapplicableBasisofclassificationofstagesandpercentageofbaddebtprovision:

None.Significantchangeinthegrossamountofanotereceivablewithchangeinlossprovisionduringtheperiod:

□Applicable√Notapplicable

(5)Baddebtprovision

□Applicable√NotapplicableBaddebtprovisionwithasignificantrecoveredorreversedamountduringtheperiod:

□Applicable√NotapplicableOtherinformation:

None.

(6)Written-offnotesreceivablefortheperiod

□Applicable√NotapplicableWrite-offofsignificantnotesreceivable:

□Applicable√NotapplicableNotestothewrite-off:

□Applicable√NotapplicableOtherinformation:

/

□Applicable√Notapplicable

5.Accountsreceivable

(1)Breakdownbyaging

√Applicable□Notapplicable

Unit:RMB

Aging	Closinggrossamount	Openinggrossamount
Within1year
Ofwhich:Sub-itemswithin1year
Within1year	894,532,883.21	728,873,862.32
Subtotalwithin1year	894,532,883.21	728,873,862.32
1to2years	38,216,674.76	38,623,326.26
Over2years	33,013,302.48	15,289,714.41
Total	965,762,860.45	782,786,902.99

/

(2)Breakdownbymethodofestablishingbaddebtprovisions

√Applicable□Notapplicable

Unit:RMB

Type	Closingbalance					Openingbalance
	Grossamount		Baddebtprovision		Carryingamount	Grossamount		Baddebtprovision		Carryingamount
	Amount	Percentage(%)	Amount	Provisionpercentage(%)		Amount	Percentage(%)	Amount	Provisionpercentage(%)
Baddebtprovisionestablishedonanindividualbasis	10,766,445.05	1.11	10,766,445.05	100.00	-	13,089,892.47	1.67	13,089,892.47	100.00	-
Ofwhich:
Baddebtprovisionestablishedonanindividualbasis	10,766,445.05	1.11	10,766,445.05	100.00	-	13,089,892.47	1.67	13,089,892.47	100.00	-
Baddebtprovisionestablishedonagroupingbasis	954,996,415.40	98.89	88,241,897.75	9.24	866,754,517.65	769,697,010.52	98.33	64,509,284.25	8.38	705,187,726.27
Ofwhich:
Baddebtprovisionestablishedonagroupingbasis	954,996,415.40	98.89	88,241,897.75	9.24	866,754,517.65	769,697,010.52	98.33	64,509,284.25	8.38	705,187,726.27
Total	965,762,860.45	100.00	99,008,342.80	10.25	866,754,517.65	782,786,902.99	100.00	77,599,176.72	9.91	705,187,726.27

Baddebtprovisionestablishedonanindividualbasis:

/

√Applicable□NotapplicableTherewerenosignificantaccountsreceivableforwhichbaddebtprovisionswereestablishedonanindividualbasisasoftheendoftheperiod.Notestobaddebtprovisionsestablishedonanindividualbasis:

□Applicable√Notapplicable

/

Baddebtprovisionestablishedonagroupingbasis:

√Applicable□NotapplicableItem:Aginggroup

Unit:RMB

Group	Closingbalance
	Accountsreceivable	Baddebtprovision	Provisionpercentage(%)
Within1year	893,019,480.82	44,650,974.13	5.00
1to2years	36,772,022.04	18,386,011.08	50.00
Over2years	25,204,912.54	25,204,912.54	100.00
Total	954,996,415.40	88,241,897.75	9.24

Notestobaddebtprovisionestablishedonagroupingbasis:

□Applicable√NotapplicableBaddebtprovisionestablishedusingthegeneralmodelofexpectedcreditloss:

□Applicable√NotapplicableBasisofclassificationofstagesandpercentageofbaddebtprovision:

None.Significantchangeinthegrossamountofanaccountreceivablewithchangeinlossprovisionduringtheperiod:

□Applicable√Notapplicable

(3)Baddebtprovision

√Applicable□Notapplicable

Unit:RMB

Type	Openingbalance	Changesfortheperiod				Closingbalance
		Established	Recoveredorreversed	Chargedofforwrittenoff	Otherchanges
Baddebtprovisionestablishedonanindividualbasis	13,089,892.47		2,323,447.42			10,766,445.05
Baddebtprovisionestablishedonagroupingbasis	64,509,284.25	24,892,283.98		1,159,670.48		88,241,897.75
Total	77,599,176.72	24,892,283.98	2,323,447.42	1,159,670.48		99,008,342.80

Baddebtprovisionwithasignificantrecoveredorreversedamountduringtheperiod:

□Applicable√Notapplicable

/

Otherinformation:

None.

(4)Written-offaccountsreceivablefortheperiod

√Applicable□Notapplicable

Unit:RMB

Item	Amountwrittenoff
Written-offaccountsreceivable	1,159,670.48

Write-offofsignificantaccountsreceivable:

□Applicable√NotapplicableNotestothewrite-off:

□Applicable√Notapplicable

(5)Topfiveentitieswithrespecttoaccountsreceivableandcontractassets

√Applicable□Notapplicable

Unit:RMB

Entity	Closingbalanceofaccountsreceivable	As%oftheclosingbalanceoftotalaccountsreceivableandcontractasstscombined	Closingbalanceofbaddebtprovision
CustomerA	75,913,642.77	7.86	3,865,974.81
CustomerB	50,307,239.76	5.21	5,471,285.32
CustomerC	47,744,013.01	4.94	2,392,088.16
CustomerD	39,302,650.25	4.07	2,482,334.41
CustomerE	29,430,429.15	3.05	1,471,521.46
Total	242,697,974.94	25.13	15,683,204.16

Otherinformation:

Theaccountsreceivablebalanceoftheabovecustomersiscalculatedbycombiningthecompanyandthecompanieswithsupplychainservicerelationshipswithinthesamegroup.Otherinformation:

√Applicable□NotapplicableAccountsreceivablederecognizedduetotransferoffinancialassets:

Item

Methodof

Amountof

Gainorlossrelatedto

/

	financialassettransfer	financialassetsderecognized	derecognition
Accountsreceivable	Non-recoursefactoring	320,929,433.28	-20,744,404.28

6.Contractassets

(1)Detailsofcontractassets

□Applicable√Notapplicable

(2)AmountofandreasonforsignificantchangesincarryingvalueduringtheReportingPeriod

□Applicable√Notapplicable

(3)Breakdownbymethodofestablishingbaddebtprovisions

□Applicable√NotapplicableBaddebtprovisionestablishedonanindividualbasis:

□Applicable√NotapplicableNotestobaddebtprovisionsestablishedonanindividualbasis:

□Applicable√NotapplicableBaddebtprovisionestablishedonagroupingbasis:

□Applicable√NotapplicableBaddebtprovisionestablishedusingthegeneralmodelofexpectedcreditloss:

□Applicable√NotapplicableBasisofclassificationofstagesandpercentageofbaddebtprovision:

None.Significantchangeinthegrossamountofacontractassetwithchangeinlossprovisionduringtheperiod:

□Applicable√Notapplicable

(4)Baddebtprovisionsforcontractassetsduringtheperiod

□Applicable√Notapplicable

/

Baddebtprovisionwithasignificantrecoveredorreversedamountduringtheperiod:

□Applicable√NotapplicableOtherinformation:

None.

(5)Written-offcontractassetsfortheperiod

□Applicable√NotapplicableWrite-offofsignificantcontractassets:

□Applicable√NotapplicableNotestothewrite-off:

□Applicable√NotapplicableOtherinformation:

□Applicable√Notapplicable

7.Receivablesfinancing

(1)Breakdownofreceivablesfinancing

□Applicable√Notapplicable

(2)Receivablesfinancinginpledgeasattheendoftheperiod

□Applicable√Notapplicable

(3)ReceivablesfinancingendorsedbytheCompanyordiscountedandnotdueonthebalancesheetdateasattheendoftheperiod

□Applicable√Notapplicable

(4)Breakdownbymethodofestablishingbaddebtprovisions

□Applicable√NotapplicableBaddebtprovisionestablishedonanindividualbasis:

□Applicable√NotapplicableNotestobaddebtprovisionsestablishedonanindividualbasis:

/

□Applicable√NotapplicableBaddebtprovisionestablishedonagroupingbasis:

□Applicable√NotapplicableBaddebtprovisionestablishedusingthegeneralmodelofexpectedcreditloss:

□Applicable√NotapplicableBasisofclassificationofstagesandpercentageofbaddebtprovision:

None.Significantchangeinthegrossamountofareceivablefinancingwithchangeinlossprovisionduringtheperiod:

□Applicable√Notapplicable

(5)Baddebtprovision

□Applicable√NotapplicableBaddebtprovisionwithasignificantrecoveredorreversedamountduringtheperiod:

□Applicable√NotapplicableOtherinformation:

None.

(6)Written-offreceivablesfinancingfortheperiod

□Applicable√NotapplicableWrite-offofsignificantreceivablesfinancing:

□Applicable√NotapplicableNotestothewrite-off:

□Applicable√Notapplicable

(7)Changesinreceivablesfinancingduringtheperiodandchangesinfairvalue

□Applicable√Notapplicable

/

(8)Otherinformation

□Applicable√Notapplicable

8.Prepayments

(1)Breakdownofprepaymentsbyaging

√Applicable□Notapplicable

Unit:RMB

Aging	Closingbalance		Openingbalance
	Amount	Percentage(%)	Amount	Percentage(%)
Within1year	72,523,196.55	77.32	60,505,697.03	69.36
1to2years	9,364,216.90	9.98	23,872,976.54	27.36
Over2years	11,909,394.55	12.70	2,864,206.00	3.28
Total	93,796,808.00	100.00	87,242,879.57	100.00

Reasonforoutstandingprepaymentsthatareover1yearandofasubstantialamount:

None.

(2)Topfiveentitieswithrespecttoprepayments

√Applicable□Notapplicable

Unit:RMB

Entity	Closingbalance	As%oftheclosingbalanceoftotalprepayments
SupplierA	33,403,222.71	35.61
SupplierB	8,148,047.28	8.69
SupplierC	3,648,200.00	3.89
SupplierD	3,165,766.70	3.38
SupplierE	3,160,232.93	3.37
Total	51,525,469.62	54.94

Otherinformation:

None.Otherinformation:

□Applicable√Notapplicable

9.OtherreceivablesBreakdown

√Applicable□Notapplicable

Unit:RMB

Item

Closingbalance

Openingbalance

/

Otherreceivables	62,031,971.26	71,120,922.90
Total	62,031,971.26	71,120,922.90

Otherinformation:

□Applicable√NotapplicableInterestreceivable

(1)Breakdownofinterestreceivable

□Applicable√Notapplicable

(2)Significantoverdueinterest

□Applicable√Notapplicable

(3)Breakdownbymethodofestablishingbaddebtprovisions

□Applicable√NotapplicableBaddebtprovisionestablishedonanindividualbasis:

□Applicable√NotapplicableNotestobaddebtprovisionsestablishedonanindividualbasis:

□Applicable√NotapplicableBaddebtprovisionestablishedonagroupingbasis:

□Applicable√Notapplicable

(4)Baddebtprovisionestablishedusingthegeneralmodelofexpectedcreditloss

□Applicable√NotapplicableBasisofclassificationofstagesandpercentageofbaddebtprovision:

None.Significantchangeinthegrossamountofinterestreceivablewithchangeinlossprovisionduringtheperiod:

□Applicable√Notapplicable

(5)Baddebtprovision

□Applicable√Notapplicable

/

Baddebtprovisionwithasignificantrecoveredorreversedamountduringtheperiod:

□Applicable√NotapplicableOtherinformation:

None.

(6)Written-offinterestreceivablefortheperiod

□Applicable√NotapplicableWrite-offofsignificantinterestreceivable:

□Applicable√NotapplicableNotestothewrite-off:

□Applicable√NotapplicableOtherinformation:

□Applicable√NotapplicableDividendsreceivable

(1)Dividendsreceivable

□Applicable√Notapplicable

(2)Significantdividendsreceivableagedoveroneyear

□Applicable√Notapplicable

(3)Breakdownbymethodofestablishingbaddebtprovisions

□Applicable√NotapplicableBaddebtprovisionestablishedonanindividualbasis:

□Applicable√NotapplicableNotestobaddebtprovisionsestablishedonanindividualbasis:

□Applicable√NotapplicableBaddebtprovisionestablishedonagroupingbasis:

□Applicable√Notapplicable

/

(4)Baddebtprovisionestablishedusingthegeneralmodelofexpectedcreditloss

□Applicable√NotapplicableBasisofclassificationofstagesandpercentageofbaddebtprovision:

None.Significantchangeinthegrossamountofdividendsreceivablewithchangeinlossprovisionduringtheperiod:

□Applicable√Notapplicable

(5)Baddebtprovision

□Applicable√NotapplicableBaddebtprovisionwithasignificantrecoveredorreversedamountduringtheperiod:

□Applicable√NotapplicableOtherinformation:

None.

(6)Written-offdividendsreceivablefortheperiod

□Applicable√NotapplicableWrite-offofsignificantdividendsreceivable:

□Applicable√NotapplicableNotestothewrite-off:

□Applicable√NotapplicableOtherinformation:

□Applicable√NotapplicableOtherreceivables

(1)Breakdownbyaging

√Applicable□Notapplicable

Unit:RMB

Aging	Closinggrossamount	Openinggrossamount
Within1year
Ofwhich:Sub-itemswithin1year

/

Within1year	45,788,589.53	50,186,094.01
Subtotalwithin1year	45,788,589.53	50,186,094.01
1to2years	7,218,627.41	9,898,783.40
Over2years	14,094,698.62	16,505,842.73
Total	67,101,915.56	76,590,720.14

(2)Breakdownbynature

√Applicable□Notapplicable

Unit:RMB

Nature	Closinggrossamount	Openinggrossamount
Exporttaxrebatesreceivable	4,000,409.05	25,301,963.62
Provisionalpaymentsreceivable	7,484,084.32	18,957,857.79
Securitydeposits	18,006,257.95	16,626,197.01
Pettycash	4,214,764.82	7,980,843.20
Socialsecurityandhousingprovidentfundpaymentsonbehalfofemployees	4,059,211.33	3,682,953.18
Employeehousingloan	4,917,188.09	4,040,905.34
Receivablesduetoequitytransfer	24,420,000.00
Total	67,101,915.56	76,590,720.14

(3)Changesinbaddebtprovisions

√Applicable□Notapplicable

Unit:RMB

Baddebtprovision	Stage1	Stage2	Stage3	Total
	12-monthexpectedcreditloss	Lifetimeexpectedcreditloss(withoutcreditimpairment)	Lifetimeexpectedcreditloss(withcreditimpairment)
BalanceasatJanuary1,2024	363,581.43	1,580,012.86	3,526,202.95	5,469,797.24
BalanceasatJanuary1,2024wasduringtheperiod
-TransferredtoStage2	-81,124.53	81,124.53
-TransferredtoStage3		-324,066.59	324,066.59
-TransferredbacktoStage2
-TransferredbacktoStage1
Establishedduringtheperiod	-198,093.97	-525,825.55	324,066.58	-399,852.94
Reversedduringtheperiod
Chargedoff

/

duringtheperiod
Writtenoffduringtheperiod
Otherchanges
BalanceasatDecember31,2024	84,362.93	811,245.25	4,174,336.12	5,069,944.30

Basisofclassificationofstagesandpercentageofbaddebtprovision:

None.Significantchangeinthegrossamountofotherreceivableswithchangeinlossprovisionduringtheperiod:

□Applicable√NotapplicableBasisforasignificantincreaseinabaddebtprovisionandthecreditriskofafinancialinstrumentduringtheperiod:

□Applicable√Notapplicable

(4)Breakdownofbaddebtprovisions

√Applicable□Notapplicable

Unit:RMB

Type	Openingbalance	Changesduringtheperiod				Closingbalance
		Established	Recoveredorreversed	Charged-offorwritten-off	Otherchanges
Baddebtprovisionestablishedonagroupingbasis	5,469,797.24	-399,852.94				5,069,944.30
Total	5,469,797.24	-399,852.94				5,069,944.30

Baddebtprovisionwithasignificantrecoveredorreversedamountduringtheperiod:

□Applicable√NotapplicableOtherinformation:

None.

(5)Written-offotherreceivablesfortheperiod

□Applicable√Notapplicable

/

Write-offofsignificantotherreceivables:

□Applicable√NotapplicableNotestothewrite-off:

□Applicable√Notapplicable

(6)Topfiveentitieswithrespecttootherreceivables

√Applicable□Notapplicable

Unit:RMB

Entity	Closingbalance	As%oftheclosingbalanceoftotalotherreceivables	Natureofotherreceivable	Aging	Closingbalanceofbaddebtprovision
CompanyA	15,785,000.00	23.52	Receivableduetoequitytransfer	Within1year
CompanyB	4,620,000.00	6.89	Receivableduetoequitytransfer	Within1year
CompanyC	4,000,000.00	5.96	Exporttaxrebatereceivable	Within1year
CompanyD	78,777.37	5.55	Securitydeposit	Within1year
	1,365,356.24			Over2years
	1,792,498.28		Provisionalpaymentreceivable	Over2years	1,792,498.28
	25,226.37		Securitydeposit	Within1year
	44,200.00			1-2years
	420,439.50			Over2years
CompanyE	3,540,000.00	5.28	Receivableduetoequitytransfer	Within1year
Total	31,671,497.76	47.20	/	/	1,792,498.28

(7)Otherreceivablesreportedduetocentralizedmanagementoffunds

□Applicable√NotapplicableOtherinformation:

□Applicable√Notapplicable

10.Inventories

(1)Breakdownofinventories

√Applicable□Notapplicable

/

Unit:RMB

Item	Closingbalance			Openingbalance
	Grossamount	Provisionsforinventoryimpairmentsorimpairmentprovisionsforcontractperformancecosts	Carryingamount	Grossamount	Provisionsforinventoryimpairmentsorimpairmentprovisionsforcontractperformancecosts	Carryingamount
Rawmaterials	337,796,733.98	36,101,085.89	301,695,648.09	456,470,926.12	46,561,698.17	409,909,227.95
Work-in-progress	198,237,102.04	29,486,696.50	168,750,405.54	188,377,916.68	10,654,921.19	177,722,995.49
Finishedgoods	783,136,828.83	102,447,502.41	680,689,326.42	562,566,604.92	31,660,770.36	530,905,834.56
Total	1,319,170,664.85	168,035,284.80	1,151,135,380.05	1,207,415,447.72	88,877,389.72	1,118,538,058.00

(2)Dataresourcesrecognizedasinventories

□Applicable√Notapplicable

(3)Provisionsforinventoryimpairmentsandimpairmentprovisionsforcontractperformancecosts

√Applicable□Notapplicable

Unit:RMB

Item	Openingbalance	Increaseduringtheperiod	Decreaseduringtheperiod	Closingbalance
		Established	Reversedorchargedoff
Rawmaterials	46,561,698.17	191,456.71	10,652,068.99	36,101,085.89
Work-in-progress	10,654,921.19	19,282,586.41	450,811.10	29,486,696.50
Finishedgoods	31,660,770.36	75,286,352.79	4,499,620.74	102,447,502.41
Total	88,877,389.72	94,760,395.91	15,602,500.83	168,035,284.80

Reasonsforthereversal/charge-offofprovisionsforinventoryimpairmentsduringtheperiod:

√Applicable□Notapplicable

Onthebalancesheetdate,inventoriesaremeasuredatthelowerofcostandnetrealizablevalue,andprovisionforinventoryimpairmentismadebasedonthedifferencebywhichthecostofasingleinventoryishigherthanitsnetrealizablevalue.Forfinishedgoods,thenetrealizablevalueisdeterminedbytheestimatedsellingpriceoftheinventorylesstheestimatedsellingexpenseandrelatedtaxes;andforrawmaterialsandwork-in-progress,thenetrealizablevalueisdeterminedbytheestimatedsellingpriceofthefinishedgoodslesstheestimatedcoststobeincurreduponcompletion,theestimated

/

sellingexpenseandrelatedtaxes.Write-offsineachperiodaremainlyrelatedtoinventorysales,productionuseandscrapdisposal.Provisionsforinventoryimpairmentsestablishedonagroupingbasis:

□Applicable√NotapplicableBasisforestablishingprovisionsforinventoryimpairmentsonagroupingbasis:

□Applicable√Notapplicable

(4)Capitalizedborrowingcostintheclosingbalanceofinventoriesandthecriteriaandbasisforitscalculation

□Applicable√Notapplicable

(5)Notestotheamountofcontractperformancecostsamortizedfortheperiod

□Applicable√NotapplicableOtherinformation:

□Applicable√Notapplicable

11.Assetsheldforsale

□Applicable√Notapplicable

12.Currentportionofnon-currentassets

□Applicable√NotapplicableCurrentportionofdebtinvestments

□Applicable√NotapplicableCurrentportionofotherdebtinvestments

□Applicable√NotapplicableOtherinformationonthecurrentportionofnon-currentassets:

None.

13.Othercurrentassets

√Applicable□Notapplicable

/

Unit:RMB

Item	Closingbalance	Openingbalance
Inputtaxtobededucted	171,399,294.21	158,139,683.60
Advancepaymentsoftax	64,683,992.70	64,531,172.21
Estimatedrefundloss	1,360,738.05	669,320.47
Total	237,444,024.96	223,340,176.28

Otherinformation:

None.

14.Debtinvestments

(1)Detailsofdebtinvestments

□Applicable√NotapplicableChangesinimpairmentprovisionsfordebtinvestmentsduringtheperiod:

□Applicable√Notapplicable

(2)Significantdebtinvestmentsattheendoftheperiod

□Applicable√Notapplicable

(3)Impairmentprovisions

□Applicable√NotapplicableBasisofclassificationofstagesandpercentageofimpairmentprovision:

None.Significantchangeinthegrossamountofdebtinvestmentswithchangeinlossprovisionduringtheperiod:

□Applicable√NotapplicableBasisforasignificantincreaseinanimpairmentprovisionandthecreditriskofafinancialinstrumentduringtheperiod:

□Applicable√Notapplicable

(4)Written-offdebtinvestmentsfortheperiod

□Applicable√Notapplicable

/

Write-offofsignificantdebtinvestments:

□Applicable√NotapplicableNotestothewrite-off:

□Applicable√NotapplicableOtherinformation:

□Applicable√Notapplicable

15.Otherdebtinvestments

(1)Detailsofotherdebtinvestments

□Applicable√NotapplicableChangesinimpairmentprovisionsforotherdebtinvestmentsduringtheperiod:

□Applicable√Notapplicable

(2)Significantotherdebtinvestmentsattheendoftheperiod

□Applicable√Notapplicable

(3)Impairmentprovisions

□Applicable√NotapplicableBasisofclassificationofstagesandpercentageofimpairmentprovision:

None.Significantchangeinthegrossamountofotherdebtinvestmentswithchangeinlossprovisionduringtheperiod:

□Applicable√NotapplicableBasisforasignificantincreaseinanimpairmentprovisionandthecreditriskofafinancialinstrumentduringtheperiod:

□Applicable√Notapplicable

(4)Written-offotherdebtinvestmentsfortheperiod

□Applicable√Notapplicable

/

Write-offofsignificantotherdebtinvestments:

□Applicable√NotapplicableNotestothewrite-off:

□Applicable√NotapplicableOtherinformation:

□Applicable√Notapplicable

16.Long-termreceivables

(1)Detailsoflong-termreceivables

□Applicable√Notapplicable

(2)Breakdownbymethodofestablishingbaddebtprovisions

□Applicable√NotapplicableBaddebtprovisionestablishedonanindividualbasis:

□Applicable√NotapplicableNotestobaddebtprovisionsestablishedonanindividualbasis:

□Applicable√NotapplicableBaddebtprovisionestablishedonagroupingbasis:

□Applicable√Notapplicable

(3)Baddebtprovisionestablishedusingthegeneralmodelofexpectedcreditloss

□Applicable√NotapplicableBasisofclassificationofstagesandpercentageofbaddebtprovision:

None.Significantchangeinthegrossamountoflong-termreceivableswithchangeinlossprovisionduringtheperiod:

□Applicable√NotapplicableBasisforasignificantincreaseinabaddebtprovisionandthecreditriskofafinancialinstrumentduringtheperiod:

/

□Applicable√Notapplicable

(4)Breakdownofbaddebtprovisions

□Applicable√NotapplicableBaddebtprovisionwithasignificantrecoveredorreversedamountduringtheperiod:

□Applicable√NotapplicableOtherinformation:

None.

(5)Written-offlong-termreceivablesfortheperiod

□Applicable√NotapplicableWrite-offofsignificantlong-termreceivables:

□Applicable√NotapplicableNotestothewrite-off:

□Applicable√NotapplicableOtherinformation:

□Applicable√Notapplicable

17.Long-termequityinvestments

(1)Detailsoflong-termequityinvestments

√Applicable□Notapplicable

Unit:RMB

Investee	Openingbalance	Increase/decreasefortheperiod								Closingbalance	Closingbalanceofimpairmentprovisions
		Additionalinvestment	Reductionininvestment	Gainsandlossesrecognizedundertheequitymethod	Adjustmentsofothercomprehensiveincome	Otherequitychanges	Cashdividendsdeclared	Impairmentprovisionsestablished	Other
SkyFendTechnology				-11,088,794.24					57,960,000.00	46,871,205.76
Total				-11,088,794.24					57,960,000.00	46,871,205.76

/

(2)Impairmenttestsoflong-termequityinvestments

□Applicable√NotapplicableOtherinformation:

(1)AftertheCompanydisposedof54%equityinterestsinSkyFendTechnologyandceasedtocontrolitduringtheperiod,theremainingequityinterestswereremeasuredatfairvalueonthedatewhencontrolceasedandsubsequentlymeasuredundertheequitymethod.Forfurtherinformation,pleaserefertoNoteIX(4)tothefinancialstatements.

(2)Duringtheperiod,theCompanytransferredalltheequityinterestsinXiaoteAutel,andtheequitytransferdidnotgenerateanyincome.

18.Otherequityinvestments

(1)Detailsofotherequityinvestments

□Applicable√Notapplicable

(2)Derecognitionduringtheperiod

□Applicable√NotapplicableOtherinformation:

□Applicable√Notapplicable

19.Othernon-currentfinancialassets

√Applicable□Notapplicable

Unit:RMB

Item	Closingbalance	Openingbalance
Financialassetsatfairvaluethroughprofitorloss	7,021,284.08	23,605,977.77
Ofwhich:Equityinvestments	7,021,284.08	23,605,977.77
Total	7,021,284.08	23,605,977.77

Otherinformation:

□Applicable√Notapplicable

20.InvestmentpropertiesMeasurementmodelofinvestmentproperties

/

(1)InvestmentpropertiesmeasuredatcostNotapplicable.

(2)Investmentpropertieswithoutcertificateoftitle

□Applicable√Notapplicable

(3)Impairmenttestsofinvestmentpropertiesmeasuredatcost

□Applicable√NotapplicableOtherinformation:

□Applicable√Notapplicable

21.FixedassetsBreakdown:

√Applicable□Notapplicable

Unit:RMB

Item	Closingbalance	Openingbalance
Fixedassets	1,249,662,845.70	1,236,185,857.05
Total	1,249,662,845.70	1,236,185,857.05

Otherinformation:

□Applicable√NotapplicableFixedassets:

(1)Detailsoffixedassets

√Applicable□Notapplicable

Unit:RMB

Item	Buildingsandconstructions	Electronicdevices	Transportationvehicles	Otherequipment	Total
IGrossamount:
1.Openingbalance	1,142,559,513.60	102,090,714.53	40,727,882.28	214,937,387.64	1,500,315,498.05
2.Increaseduringtheperiod	4,664,423.80	48,098,993.12	8,124,934.98	73,167,411.35	134,055,763.25
1)Purchased	3,367,620.84	48,347,317.83	8,137,483.63	74,554,888.94	134,407,311.24
2)Transferredfromconstructioninprogress				235,694.94	235,694.94
3)Impactofthetranslation	1,296,802.96	-248,324.71	-12,548.65	-1,623,172.53	-587,242.93

/

offoreigncurrency-denominatedfinancialstatements
3.Decreaseduringtheperiod		10,249,928.30	4,916,431.06	15,289,641.24	30,456,000.60
1)Disposalorretirement		2,876,882.35	4,916,431.06	5,430,686.95	13,224,000.36
2)Decreaseduetodisposalofsubsidiary		7,373,045.95		9,858,954.29	17,232,000.24
4.Closingbalance	1,147,223,937.40	139,939,779.35	43,936,386.20	272,815,157.75	1,603,915,260.70
IIAccumulateddepreciation
1.Openingbalance	113,497,017.65	56,717,424.46	24,334,704.77	69,119,923.12	263,669,070.00
2.Increaseduringtheperiod	41,566,860.39	14,127,129.26	4,961,833.44	37,316,077.48	97,971,900.57
1)Established	41,562,375.27	14,235,060.67	4,978,435.09	37,934,443.72	98,710,314.75
2)Impactofthetranslationofforeigncurrency-denominatedfinancialstatements	4,485.12	-107,931.41	-16,601.65	-618,366.24	-738,414.18
3.Decreaseduringtheperiod		2,782,989.80	2,495,526.87	2,570,609.90	7,849,126.57
1)Disposalorretirement		1,858,281.96	2,495,526.87	729,501.19	5,083,310.02
2)Decreaseduetodisposalofsubsidiary		924,707.84		1,841,108.71	2,765,816.55
3)Other
4.Closingbalance	155,063,878.04	68,061,563.92	26,801,011.34	103,865,390.70	353,791,844.00
IIIImpairmentprovisions
1.Openingbalance				460,571.00	460,571.00
2.Increaseduringtheperiod
3.Decreaseduringtheperiod
4.Closingbalance				460,571.00	460,571.00
IVCarryingamount
1.Closingcarryingamount	992,160,059.36	71,878,215.43	17,135,374.86	168,489,196.05	1,249,662,845.70
2.Openingcarryingamount	1,029,062,495.95	45,373,290.07	16,393,177.51	145,356,893.52	1,236,185,857.05

/

(2)Temporarilyidlefixedassets

√Applicable□Notapplicable

Unit:RMB

Item	Grossamount	Accumulateddepreciation	Impairmentprovision	Carryingamount	Remark
Electronicdevices	164,957.26	156,709.40		8,247.86
Subtotal	164,957.26	156,709.40		8,247.86

(3)Fixedassetsleasedoutunderoperatingleases

√Applicable□Notapplicable

Unit:RMB

Item	Closingcarryingamount
Buildingsandconstructions	21,720,919.98
Subtotal	21,720,919.98

(4)Fixedassetswithoutcertificateoftitle

□Applicable√Notapplicable

(5)Impairmenttestsoffixedassets

□Applicable√NotapplicableOtherinformation:

□Applicable√NotapplicableDisposaloffixedassets

□Applicable√Notapplicable

22.ConstructioninprogressBreakdown:

√Applicable□Notapplicable

Unit:RMB

Item	Closingbalance	Openingbalance
Constructioninprogress	62,463.31	1,640,730.17
Engineeringmaterials	-	-
Total	62,463.31	1,640,730.17

Otherinformation:

□Applicable√Notapplicable

/

Constructioninprogress

(1)Detailsofconstructioninprogress

√Applicable□Notapplicable

Unit:RMB

Item	Closingbalance			Openingbalance
	Grossamount	Impairmentprovision	Carryingamount	Grossamount	Impairmentprovision	Carryingamount
DecorationofRainbowTechnologyBuilding				384,000.00		384,000.00
ConstructioninprogressofAutelSpain	62,463.31		62,463.31	1,256,730.17		1,256,730.17
Total	62,463.31		62,463.31	1,640,730.17		1,640,730.17

(2)Changesinsignificantconstructioninprogressduringtheperiod

√Applicable□Notapplicable

/

Unit:RMB

Project	Budget	Openingbalance	Increaseduringtheperiod	Transferredtofixedassetsduringtheperiod	Otherdecreasesduringtheperiod	Closingbalance	Cumulativeprojectinvestmentas%ofthebudget	Projectprogress(%)	Cumulativecapitalisedinterest	Ofwhich:Capitalisedinterestduringtheperiod	Interestcapitalisationratefortheperiod(%)	Fundingsource
DecorationofRainbowTechnologyBuilding	49,968,950.00	384,000.00			384,000.00		100.00	100.00				Raisedfundsandownfunds
ConstructioninprogressofAutelSpain	2,749,141.75	1,256,730.17	1,492,411.58		2,686,678.44	62,463.31	97.73	97.73				Ownfunds
Chargersfortesting			235,694.94	235,694.94			100.00	100.00				Ownfunds
Total	52,718,091.75	1,640,730.17	1,728,106.52	235,694.94	3,070,678.44	62,463.31	/	/			/	/

(3)Impairmentprovisionsforconstructioninprogressfortheperiod

□Applicable√Notapplicable

/

(4)Impairmenttestsofconstructioninprogress

□Applicable√NotapplicableOtherinformation:

□Applicable√NotapplicableEngineeringmaterials:

(1)Detailsofengineeringmaterials

□Applicable√Notapplicable

/

23.Productivelivingassets

(1)Productivelivingassetsmeasuredatcost

□Applicable√Notapplicable

(2)Impairmenttestsofproductivelivingassetsmeasuredatcost

□Applicable√Notapplicable

(3)Productivelivingassetsmeasuredatfairvalue

□Applicable√NotapplicableOtherinformation:

□Applicable√Notapplicable

24.Oilandgasassets

(1)Detailsofoilandgasassets

□Applicable√Notapplicable

(2)Impairmenttestsofoilandgasassets

□Applicable√NotapplicableOtherinformation:

□Applicable√Notapplicable

25.Right-of-useassets

(1)Detailsofright-of-useassets

√Applicable□Notapplicable

Unit:RMB

Item	Buildingsandconstructions	Total
IGrossamount
1.Openingbalance	107,911,645.00	107,911,645.00
2.Increaseduringtheperiod	11,798,987.38	11,798,987.38
1)Newadditionsandrenewalsduringtheperiod	12,672,603.23	12,672,603.23
2)Impactofthetranslationofforeigncurrency-denominatedfinancialstatements	-873,615.85	-873,615.85

/

3.Decreaseduringtheperiod	23,217,185.98	23,217,185.98
1)Disposals	23,217,185.98	23,217,185.98
4.Closingbalance	96,493,446.40	96,493,446.40
IIAccumulateddepreciation
1.Openingbalance	43,924,662.83	43,924,662.83
2.Increaseduringtheperiod	27,756,400.88	27,756,400.88
1)Established	28,586,180.73	28,586,180.73
2)Impactofthetranslationofforeigncurrency-denominatedfinancialstatements	-829,779.85	-829,779.85
3.Decreaseduringtheperiod	23,217,185.98	23,217,185.98
1)Disposals	23,217,185.98	23,217,185.98
4.Closingbalance	48,463,877.73	48,463,877.73
IIIImpairmentprovisions
1.Openingbalance
2.Increaseduringtheperiod
3.Decreaseduringtheperiod
4.Closingbalance
IVCarryingamount
1.Closingcarryingamount	48,029,568.67	48,029,568.67
2.Openingcarryingamount	63,986,982.17	63,986,982.17

(2)Impairmenttestsofright-of-useassets

□Applicable√NotapplicableOtherinformation:

None.

/

26.Intangibleassets

(1)Detailsofintangibleassets

√Applicable□Notapplicable

Unit:RMB

Item	Landuserights	Patents	Trademarks	Proprietarytechnologies	Software	Total
IGrossamount
1.Openingbalance	23,662,949.69	12,196,198.81	5,581,612.70	139,560,383.07	22,891,099.24	203,892,243.51
2.Increaseduringtheperiod	-384,110.12	843,683.69	460,545.00	35,437,212.66	2,226,723.24	38,584,054.47
(1)Purchased			457,374.00		2,264,699.68	2,722,073.68
(2)Developedinternally		843,683.69		35,462,092.73		36,305,776.42
(3)Impactofthetranslationofforeigncurrency-denominatedfinancialstatements	-384,110.12		3,171.00	-24,880.07	-37,976.44	-443,795.63
3.Decreaseduringtheperiod		2,264,150.95	67,471.70	3,413,773.47	422,023.00	6,167,419.12
(1)Disposals		2,264,150.95		1,415,094.30	22,123.89	3,701,369.14
(2)Decreaseduetodisposalofsubsidiary			67,471.70	1,998,679.17	399,899.11	2,466,049.98
4.Closingbalance	23,278,839.57	10,775,731.55	5,974,686.00	171,583,822.26	24,695,799.48	236,308,878.86
IIAccumulateddepreciation
1.Openingbalance	4,470,711.87	3,242,960.95	441,134.30	47,209,436.88	15,756,681.20	71,120,925.20
2.Increaseduringtheperiod	484,290.37	1,614,647.03	577,606.75	32,723,838.18	2,564,703.84	37,965,086.17

/

(1)Established	527,421.38	1,614,647.03	574,435.76	32,735,699.31		2,567,652.21		38,019,855.69
(2)Impactofthetranslationofforeigncurrency-denominatedfinancialstatements	-43,131.01		3,170.99	-11,861.13		-2,948.37		-54,769.52
3.Decreaseduringtheperiod		716,981.13	16,867.92	781,226.40		204,038.67		1,719,114.12
(1)Disposals		716,981.13		448,113.20		2,212.39		1,167,306.72
(2)Decreaseduetodisposalofsubsidiary			16,867.92	333,113.20		201,826.28		551,807.40
4.Closingbalance	4,955,002.24	4,140,626.85	1,001,873.13	79,152,048.66		18,117,346.37		107,366,897.25
IIIImpairmentprovisions
1.Openingbalance
2.Increaseduringtheperiod
3.Decreaseduringtheperiod
4.Closingbalance
IVCarryingamount
1.Closingcarryingamount	18,323,837.33	6,635,104.70	4,972,812.87		92,431,773.60		6,578,453.11	128,941,981.61
2.Openingcarryingamount	19,192,237.82	8,953,237.86	5,140,478.40		92,350,946.19		7,134,418.04	132,771,318.31

TheproportionofintangibleassetsdevelopedinternallybytheCompanyattheperiod-endtotheclosingbalanceofintangibleassetsis74.95%.

(2)Dataresourcesrecognizedasintangibleassets

□Applicable√Notapplicable

/

(3)Landuserightswithoutcertificateoftitle

□Applicable√Notapplicable

(4)Impairmenttestsofintangibleassets

□Applicable√NotapplicableOtherinformation:

□Applicable√Notapplicable

/

27.Goodwill

(1)Grossamountofgoodwill

□Applicable√Notapplicable

(2)Impairmentprovisionsforgoodwill

□Applicable√Notapplicable

(3)Informationontheassetgrouporcombinationofassetgroupstowhichgoodwillisapportioned

□Applicable√NotapplicableChangesintheassetgrouporcombinationofassetgroups:

□Applicable√NotapplicableOtherinformation:

□Applicable√Notapplicable

(4)DeterminationoftherecoverableamountTherecoverableamountisdeterminedbasedonthenetamountofthefairvalueminusdisposalcosts:

□Applicable√NotapplicableTherecoverableamountisdeterminedbythepresentvalueoftheforecastedfuturecashflow:

□Applicable√NotapplicableThereasonforthediscrepancybetweentheforegoinginformationandtheinformationusedintheimpairmenttestsinprioryearsorexternalinformation:

□Applicable√NotapplicableThereasonforthediscrepancybetweentheinformationusedintheCompany'simpairmenttestsinprioryearsandtheactualsituationofthoseyears:

□Applicable√Notapplicable

/

(5)PerformancecommitmentsandcorrespondinggoodwillimpairmentWhengoodwillisformed,thereisacommitmenttotheresultsandtheReportingPeriodortheperiodprecedingtheReportingPeriodiswithinthecommitmentperiod:

□Applicable√NotapplicableOtherinformation:

□Applicable√Notapplicable

28.Long-termprepaidexpense

√Applicable□Notapplicable

Unit:RMB

Item	Openingbalance	Increaseduringtheperiod	Amortisationduringtheperiod	Otherdecreases	Closingbalance
Licensingfees	76,210.66		76,210.66
Decorationexpense	50,246,535.50	20,537,774.49	10,177,784.80	138,885.28	60,467,639.91
Other	3,812,972.81	572,176.43	1,400,869.92	59,026.01	2,925,253.31
Total	54,135,718.97	21,109,950.92	11,654,865.38	197,911.29	63,392,893.22

Otherinformation:

None.

29.Deferredincometaxassets/Deferredincometaxliabilities

(1)Deferredincometaxassetsbeforebeingoffset

√Applicable□Notapplicable

Unit:RMB

Item	Closingbalance		Openingbalance
	Deductibletemporarydifferences	Deferredincometaxassets	Deductibletemporarydifferences	Deferredincometaxassets
Assetimpairmentprovisions	163,139,909.37	63,923,894.83	163,937,865.70	41,733,972.10
Unrealizedprofitofinternaltransactions	483,853,014.54	134,278,374.29	345,741,169.52	101,410,842.54
Deductiblelosses	740,671,584.87	111,672,630.79	875,312,123.30	138,866,947.49
Deferredincome	2,835,419.92	628,213.51	3,678,200.51	760,779.10
Productwarranties	15,082,085.74	2,268,519.81	18,643,977.47	2,799,334.07

/

Pendinglitigation	24,789,450.64	3,718,417.60	24,789,450.64	3,718,417.60
Fairvaluechanges	7,067,978.99	1,060,196.85
Leaseliabilities	52,538,290.00	29,382,542.59	18,857,103.23	2,828,565.48
Share-basedpayments	17,046,404.03	2,002,139.38
Other	7,109,440.10	1,955,096.00	9,806,861.21	2,696,886.83
Total	1,514,133,578.20	350,890,025.65	1,460,766,751.58	294,815,745.21

(2)Deferredincometaxliabilitiesbeforebeingoffset

√Applicable□Notapplicable

Unit:RMB

Item	Closingbalance		Openingbalance
	Taxabletemporarydifferences	Deferredincometaxliabilities	Taxabletemporarydifferences	Deferredincometaxliabilities
Unremittedprofitsofoverseassubsidiaries	504,593,736.06	75,689,060.41	504,593,736.06	75,689,060.41
Right-of-useassets	48,029,568.67	28,768,040.97	18,168,607.98	2,725,291.20
Fairvaluechanges			1,014,075.29	152,111.29
Other	998,429.10	149,764.37	1,306,594.82	195,989.22
Total	553,621,733.83	104,606,865.75	525,083,014.15	78,762,452.12

(3)Deferredincometaxassetsorliabilitiespresentedonanetbasisafterbeingoffset

√Applicable□Notapplicable

Unit:RMB

Item	Amountofdeferredincometaxassetsandliabilitiesoffsetattheperiod-end	Closingbalanceofdeferredincometaxassetsorliabilitiesafterbeingoffset	Amountofdeferredincometaxassetsandliabilitiesoffsetattheperiod-begin	Openingbalanceofdeferredincometaxassetsorliabilitiesafterbeingoffset
Deferredincometaxassets	28,917,805.34	321,972,220.31	3,073,391.71	291,742,353.50
Deferredincometaxliabilities	28,917,805.34	75,689,060.41	3,073,391.71	75,689,060.41

(4)Scheduleofdeferredincometaxassetsunrecognized

√Applicable□Notapplicable

Unit:RMB

Item	Closingbalance	Openingbalance
Assetimpairmentprovisions	82,461,693.09	12,149,924.65
Unrealizedprofitofinternaltransactions	67,105,370.40	107,864,970.37
Deductiblelosses	1,504,207,522.70	1,184,003,220.21
Accruedproductwarranties	10,554,223.91

/

andrefunds
Deferredincome		1,440,000.00
Total	1,664,328,810.10	1,305,458,115.23

(5)Deductiblelossesonwhichdeferredincometaxassetswereunrecognizedwillexpireinthefollowingyears

√Applicable□Notapplicable

Unit:RMB

Year	Closingbalance	Openingbalance	Remark
2024		9,244,505.46
2025	24,719,709.70	25,655,704.97
2026	68,643,384.44	67,638,774.28
2027	74,517,044.62	74,517,044.62
2028	75,778,497.68	66,476,212.93
2029	13,807,059.65	1,039,505.86
2030	374,177.79	13,902,165.57
2031	3,002,632.92	154,444,432.10
2032	233,021,729.92	321,412,927.50
2033	308,789,426.44	443,579,868.33
2034	682,177,764.57
Indefinite	19,376,094.97	6,092,078.59
Total	1,504,207,522.70	1,184,003,220.21	/

Otherinformation:

□Applicable√Notapplicable

30.Othernon-currentassets

√Applicable□Notapplicable

Unit:RMB

Item	Closingbalance			Openingbalance
	Grossamount	Impairmentprovision	Carryingamount	Grossamount	Impairmentprovision	Carryingamount
EmployeeStockOwnershipPlanIncentiveFund	122,855,418.00		122,855,418.00
Prepaymentsforequipment	14,906,656.33		14,906,656.33	21,712,176.22		21,712,176.22
Prepaymentsforvehicles	3,377,000.00		3,377,000.00	1,129,300.00		1,129,300.00

/

Total

141,139,074.33

141,139,074.33

22,841,476.22

22,841,476.22

Otherinformation:

None.

31.Assetswithrestrictedownershiporrightofuse

√Applicable□Notapplicable

Unit:RMB

Item	Period-end			Period-begin
	Grossamount	Carryingamount	Restriction	Grossamount	Carryingamount	Restriction
Monetaryassets	118,717,513.83	118,717,513.83	Billdeposits,guaranteedeposits,AppleStoreaccountbalance,customsdeposits,andETCdeposits	16,721,436.43	16,721,436.43	AppleStoreaccountbalance,customsdeposits,andETCdeposits
Total	118,717,513.83	118,717,513.83	/	16,721,436.43	16,721,436.43	/

Otherinformation:

None.

32.Short-termborrowings

(1)Breakdownofshort-termborrowings

□Applicable√Notapplicable

(2)Overdueshort-termborrowings

□Applicable√NotapplicableSignificantoverdueshort-termborrowings:

□Applicable√NotapplicableOtherinformation:

□Applicable√Notapplicable

/

33.Held-for-tradingfinancialliabilities

□Applicable√NotapplicableOtherinformation:

□Applicable√Notapplicable

34.Derivativefinancialliabilities

□Applicable√Notapplicable

35.Notespayable

(1)Breakdownofnotespayable

√Applicable□Notapplicable

Unit:RMB

Type	Closingbalance	Openingbalance
Bankacceptancebills	149,368,685.23
Total	149,368,685.23

Thetotalamountofoverduenotespayableisnilattheendoftheperiod.

36.Accountspayable

(1)Breakdownofaccountspayable

√Applicable□Notapplicable

Unit:RMB

Item	Closingbalance	Openingbalance
Payablesformaterials	315,249,747.00	199,896,850.22
Payablesforequipment	1,701,381.22	4,358,238.27
Total	316,951,128.22	204,255,088.49

(2)Significantaccountspayablethatareagedoveroneyearoroverdue

□Applicable√NotapplicableOtherinformation:

□Applicable√Notapplicable

37.Advancesfromcustomers

(1)Breakdownofadvancesfromcustomers

√Applicable□Notapplicable

Unit:RMB

Item

Closingbalance

Openingbalance

/

Advancesfromtenants	951,557.22	977,035.28
Total	951,557.22	977,035.28

(2)Significantadvancesfromcustomersagedoveroneyear

□Applicable√Notapplicable

(3)SignificantchangesincarryingamountsduringtheReportingPeriodandthereasons

□Applicable√NotapplicableOtherinformation:

□Applicable√Notapplicable

38.Contractliabilities

(1)Breakdownofcontractliabilities

√Applicable□Notapplicable

Unit:RMB

Item	Closingbalance	Openingbalance
Amountduetosuppliers	124,298,319.25	51,688,978.59
Softwarecloudservicepaymentsduewithinoneyear	257,416,374.92	260,466,688.56
Total	381,714,694.17	312,155,667.15

(2)Significantcontractliabilitiesagedoveroneyear

□Applicable√Notapplicable

(3)SignificantchangesincarryingamountsduringtheReportingPeriodandthereasons

□Applicable√NotapplicableOtherinformation:

□Applicable√Notapplicable

39.Employeebenefitspayable

(1)Breakdownofemployeebenefitspayable

√Applicable□Notapplicable

Unit:RMB

/

Item	Openingbalance	Increaseduringtheperiod	Decreaseduringtheperiod	Closingbalance
IShort-termbenefits	154,153,701.01	859,579,777.15	781,698,950.63	232,034,527.53
IIAfter-servicebenefits-definedcontributionschemes	333.69	50,086,709.45	49,882,906.73	204,136.41
IIISeverancebenefits		12,023,159.65	12,023,159.65
Total	154,154,034.70	921,689,646.25	843,605,017.01	232,238,663.94

(2)Breakdownofshort-termbenefits

√Applicable□Notapplicable

Unit:RMB

Item	Openingbalance	Increaseduringtheperiod	Decreaseduringtheperiod	Closingbalance
ISalaries,bonuses,allowancesandsubsidies	153,991,249.05	771,295,301.90	694,172,177.30	231,114,373.65
IIEmployeewelfareexpense		36,716,523.76	36,634,733.10	81,790.66
IIISocialsecurityfundpayments	147,112.20	40,159,369.08	39,468,118.06	838,363.22
Ofwhich:Medicalinsurancepremiums	147,112.20	37,075,391.70	36,385,935.56	836,568.34
Work-relatedinjuryinsurancepremiums		1,281,292.27	1,281,292.27
Maternityinsurancepremiums		1,561,423.48	1,561,423.48
Otherinsurancepremiums		241,261.63	239,466.75	1,794.88
IVHousingprovidentfundpayments		11,174,476.17	11,174,476.17
VLabourunionfundsandemployeeeducationfunds	15,339.76	234,106.24	249,446.00
Total	154,153,701.01	859,579,777.15	781,698,950.63	232,034,527.53

(3)Breakdownofdefinedcontributionschemes

√Applicable□Notapplicable

Unit:RMB

Item

Openingbalance

Increaseduringtheperiod

Decreaseduringtheperiod

Closingbalance

/

1.Basicendowmentinsurance	314.06	47,535,077.95	47,331,255.60	204,136.41
2.Unemploymentinsurancepremiums	19.63	2,551,631.50	2,551,651.13
Total	333.69	50,086,709.45	49,882,906.73	204,136.41

Otherinformation:

□Applicable√Notapplicable

40.Taxesandleviespayable

√Applicable□Notapplicable

Unit:RMB

Item	Closingbalance	Openingbalance
Valueaddedtax	23,012,413.08	17,767,112.31
Enterpriseincometax	48,329,616.53	29,837,014.01
Personalincometaxwithheldforemployees	1,768,334.94	1,643,883.90
Urbanconstructionandmaintenancetax	186,213.12	203,796.52
Educationsurtax	79,805.63	151,781.36
Localeducationsurtax	53,203.75	101,187.55
Propertytax	82,364.30	674,992.53
Landusetax	835.21	1,444.79
Other	926,800.67	305,870.86
Total	74,439,587.23	50,687,083.83

Otherinformation:

None.

41.Otherpayables

(1)Breakdown

√Applicable□Notapplicable

Unit:RMB

Item	Closingbalance	Openingbalance
Otherpayables	126,102,610.81	241,363,094.35
Total	126,102,610.81	241,363,094.35

Otherinformation:

□Applicable√Notapplicable

(2)InterestpayableBreakdown

/

□Applicable√NotapplicableSignificantoverdueinterestpayable:

□Applicable√NotapplicableOtherinformation:

□Applicable√Notapplicable

(3)DividendspayableBreakdown

□Applicable√Notapplicable

(4)OtherpayablesOtherpayablesbynature:

√Applicable□Notapplicable

Unit:RMB

Item	Closingbalance	Openingbalance
Accruedfreightandcustomsfees	24,612,380.78	14,925,458.68
Professionalagencyservicefees	32,815,347.23	20,232,983.95
Amountspayabletoemployees	1,895,251.72	1,300,706.57
Securitydeposits	2,563,134.59	2,454,962.11
Consultingandservicefees	29,342,444.95	16,550,574.49
Liquidateddamagesandsettlementcompensations	7,490,000.00	160,921,406.70
Other	27,384,051.54	24,977,001.85
Total	126,102,610.81	241,363,094.35

Significantotherpayablesthatareagedoveroneyearoroverdue:

□Applicable√NotapplicableOtherinformation:

□Applicable√Notapplicable

42.Liabilitiesdirectlyassociatedwithassetsheldforsale

□Applicable√Notapplicable

/

43.Currentportionofnon-currentliabilities

√Applicable□Notapplicable

Unit:RMB

Item	Closingbalance	Openingbalance
Currentportionofleaseliabilities	27,422,917.04	23,971,160.05
Total	27,422,917.04	23,971,160.05

Otherinformation:

None.

44.OthercurrentliabilitiesBreakdown:

√Applicable□Notapplicable

Unit:RMB

Item	Closingbalance	Openingbalance
Productwarranties	23,598,210.79
Taxtobechargedoff	3,776,316.29	594,036.63
Total	27,374,527.08	594,036.63

Increase/decreaseofshort-termbondspayable:

□Applicable√NotapplicableOtherinformation:

√Applicable□NotapplicableTheCompanyprovideswarrantyservicesforsomeoftheproductsitsells.TheCompanyrecordscorrespondingproductwarrantyexpensebasedontheamountthatmaybepaidinthefuture.Theamountrecordedduringtheperiodisdeterminedbymultiplyingthesalesrevenueofproductswithwarrantyobligationsduringtheperiodbytheestimatedmaintenanceexpenserate.

45.Long-termborrowings

(1)Breakdown

□Applicable√NotapplicableOtherinformation:

□Applicable√Notapplicable

/

46.Bondspayable

(1)Bondspayable

√Applicable□Notapplicable

Unit:RMB

Item	Closingbalance	Openingbalance
Convertiblecorporatebonds	1,175,814,692.17	1,134,987,458.10
Total	1,175,814,692.17	1,134,987,458.10

/

(2)Detailsofbondspayable:(excludingotherfinancialinstrumentssuchaspreferencesharesandperpetualbonds,whichareclassifiedasfinancialliabilities)

√Applicable□Notapplicable

Unit:RMB

Bondname

Parvalue(RMB)

Couponrate(%)

Issueddate

Termofbond

Issuedamount

Openingbalance

Issuedduringtheperiod

Interestaccruedatparvalue

Amortizationofpremiumanddiscount

Redeemedduringtheperiod

Amountofbondsconvertedtosharesduringtheperiod

Closingbalance

Whetherthereisabreachofcontract

AutelConvertibleCorporateBond

100.00

2022/7/8

6years

1,280,000,000.00

1,134,987,458.10

9,230,863.71

38,026,587.34

6,399,029.94

31,187.04

1,175,814,692.17

No

Total

/

/

/

/

1,280,000,000.00

1,134,987,458.10

9,230,863.71

38,026,587.34

6,399,029.94

31,187.04

1,175,814,692.17

/

(3)ConvertiblecorporatebondsAccountingtreatmentsandjudgmentalbasisforconversiontoshares:

√Applicable□Notapplicable

Thetermofthe“AutelConvertibleCorporateBond”issuedduringtheperiodissixyearsfromtheissueddate,thatis,fromJuly8,2022toJuly7,2028;theconversionperiodisfromthefirsttradingdayaftersixmonthsfromtheendoftheconvertiblebondissuanceonJuly14,2022tothematuritydateoftheconvertiblebonds,thatis,fromJanuary16,2023toJuly7,2028.TheinitialconversionpriceoftheconvertiblecorporatebondsisRMB34.73/share,andtheconversionpricewasadjustedtoRMB34.71/shareonAugust16,2023,andtoRMB33.93/shareonSeptember9,2024.

/

Thecouponrateofthe“AutelConvertibleCorporateBond”is0.30%inthefirstyear,0.50%inthesecondyear,1.00%inthethirdyear,

1.50%inthefourthyear,1.80%inthefifthyear,and2.00%inthesixthyear.Theannualinterestpaymentdateisthedayofeachfullyearfromthefirstdayoftheissuanceofthebond.

WiththeApprovalontheRegistrationoftheOfferingofConvertibleCorporateBondstoUnspecifiedObjectsbyAutelIntelligentTechnologyCorp.,Ltd.issuedbytheChinaSecuritiesRegulatoryCommission(CSRCPermit[2022]No.852),theCompanycarriedoutapublicofferingof12,800,000convertiblecorporatebondsonJuly8,2022,withaparvalueofRMB100andatotalofferingamountofRMB1.28billion.

The“AutelConvertibleCorporateBond”isacompoundfinancialinstrument,whichcontainsbothafinancialliabilitycomponentandanequityinstrumentcomponent.Wheninitiallymeasured,thefairvalueofthefinancialliabilitycomponentisfirstdetermined,andthenthefairvalueoftheliabilitycomponentisdeductedfromthefairvalueofthecompoundfinancialinstrumentasthefairvalueoftheequityinstrumentcomponent.Thetransactioncostsincurredintheofferingofconvertiblecorporatebondsareallocatedbetweenthefinancialliabilitycomponentandtheequityinstrumentcomponentinproportiontotheirrespectivefairvalue.TheCompanyissuedRMB1.28billionofconvertiblecorporatebondsthistime.AfterdeductingtheissuancecostsofRMB18,126,264.14,thefairvalueofthefinancialliabilitycomponentontheissueddateofRMB1,069,449,976.70wasrecordedinbondspayable,andthefairvalueoftheequityinstrumentcomponentofRMB192,423,759.16wasrecordedinotherequityinstruments.

AsofDecember31,2024,atotalof8,353shareshadbeenconvertedfromissuedbonds.Duringtheperiod,atotalofRMB32,000.00oftheCompany’sconvertiblebondswereconvertedinto942shares.Whenconverted,theparvalueofthebondsofRMB32,000.00wasusedtoreducethebondspayable,andthefairvalueoftheequityinstrumentcomponentofRMB4,810.59wasusedtoreduceotherequityinstruments.

/

(4)OtherfinancialinstrumentsclassifiedasfinancialliabilitiesGeneralinformationonotherfinancialinstrumentsoutstandingsuchaspreferencesharesandperpetualbondsattheendoftheperiod:

□Applicable√NotapplicableChangesinfinancialinstrumentsoutstandingsuchaspreferencesharesandperpetualbondsattheendoftheperiod:

□Applicable√NotapplicableBasisfortheclassificationofotherfinancialinstrumentsasfinancialliabilities:

□Applicable√NotapplicableOtherinformation:

□Applicable√Notapplicable

/

47.Leaseliabilities

√Applicable□Notapplicable

Unit:RMB

Item	Closingbalance	Openingbalance
Buildingsandconstructions	25,115,372.96	43,287,160.21
Total	25,115,372.96	43,287,160.21

Otherinformation:

None.

48.Long-termpayablesBreakdown:

□Applicable√NotapplicableOtherinformation:

□Applicable√NotapplicableLong-termpayables:

(1)Long-termpayablesbynature

□Applicable√NotapplicableSpecificpayables:

(1)Specificpayablesbynature

□Applicable√Notapplicable

49.Long-termemployeebenefitspayable

□Applicable√Notapplicable

50.Provisions

√Applicable□Notapplicable

Unit:RMB

Item	Closingbalance	Openingbalance	Cause
Pendinglitigation	24,789,450.64	24,789,450.64	Pendinglitigation
Productwarranties		22,868,733.58	Productwarranties

/

Returncostsreceivable	2,038,098.86	1,019,206.87	Expectedreturns
Total	26,827,549.50	48,677,391.09	/

Otherinformation,includingimportantassumptionsandestimatesrelatedtoimportantprovisions:

(1)TheCompanyadjustedtheprovisionsforproductwarrantiestoothercurrentliabilitiesduringtheperiod.

(2)Fordetailsofpendinglitigation,pleaserefertoNoteXVI(2)ofthefinancialstatements.

51.DeferredincomeBreakdown:

√Applicable□Notapplicable

Unit:RMB

Item	Openingbalance	Increaseduringtheperiod	Decreaseduringtheperiod	Closingbalance	Cause
Governmentgrants	5,118,200.51		2,282,780.59	2,835,419.92	/
Total	5,118,200.51		2,282,780.59	2,835,419.92	/

Otherinformation:

□Applicable√Notapplicable

52.Othernon-currentliabilities

√Applicable□Notapplicable

Unit:RMB

Item	Closingbalance	Openingbalance
Contractliabilities——Softwarecloudservicepaymentsdueinover1year	241,979,614.63	123,469,560.47
Total	241,979,614.63	123,469,560.47

Otherinformation:

None.

/

53.Sharecapital

√Applicable□Notapplicable

Unit:RMB

	Openingbalance	Increase/decreaseduringtheperiod(+/-)					Closingbalance
		Newissue	Bonusissuefromprofit	Bonusissuefromcapitalreserves	Other	Subtotal
Totalshares	451,877,086.00				942.00	942.00	451,878,028.00

Otherinformation:

Theconversionperiodofthe“AutelConvertibleCorporateBond”issuedbytheCompanytounspecifiedobjectsisfromJanuary16,2023toJuly7,2028.AtotalofRMB32,000.00ofthebondswasconvertedinto942shares.Forfurtherinformationoftheconvertiblecorporatebonds,pleaserefertoNoteVII(46)tothefinancialstatements.

54.Otherequityinstruments

(1)Generalinformationonotherfinancialinstrumentsoutstandingsuchaspreferencesharesandperpetualbondsattheendoftheperiod

□Applicable√Notapplicable

(2)Changesinfinancialinstrumentsoutstandingsuchaspreferencesharesandperpetualbondsattheendoftheperiod

√Applicable□Notapplicable

Unit:RMB

Changesinotherequityinstrumentsduringtheperiod,thereasonsforthechanges,andthebasisfortherelevantaccountingtreatments:

□Applicable√Notapplicable

Financialinstrumentoutstanding	Period-begin		Increaseduringtheperiod		Decreaseduringtheperiod		Period-end
	Number	Carryingamount	Number	Carryingamount	Number	Carryingamount	Number	Carryingamount
Convertiblecorporatebonds	12,797,420	192,384,973.75			320	4,810.59	12,797,100	192,380,163.16
Total	12,797,420	192,384,973.75			320	4,810.59	12,797,100	192,380,163.16

/

Otherinformation::

√Applicable□Notapplicable

Fordetailsofthegeneralinformationonandchangesinconvertiblecorporatebondsoutstandingattheendoftheperiod,pleaserefertoNoteVII(46)herein.

55.Capitalreserves

√Applicable□Notapplicable

Unit:RMB

Item	Openingbalance	Increaseduringtheperiod	Decreaseduringtheperiod	Closingbalance
Capitalpremium(sharepremium)	1,272,552,103.28	108,345,813.17		1,380,897,916.45
Othercapitalreserves	24,566,136.65	15,660,936.03		40,227,072.68
Total	1,297,118,239.93	124,006,749.20		1,421,124,989.13

Otherinformation,includingthechangesduringtheperiodandthereasonsforthechanges:

(1)Changesinsharepremium

1)AsstatedinNoteVII(46)tothefinancialstatements,atotalofRMB32,000.00ofthe“AutelConvertibleCorporateBond”wasconvertedintosharesduringtheperiod,andthepremiumofRMB35,017.69hasbeenincludedinthesharepremium.

2)AsstatedinNoteXV(2)tothefinancialstatements,duringtheperiod,theCompanyestablishedanemployeelong-termincentivefundtopurchaseitstreasurysharesforemployeestockownershipplans.TheemployeestockownershipplansreceivedasubscriptionpaymentofRMB122,855,418.00fromtheemployeelong-termincentivefund,andthetreasurysharerepurchasecostwasRMB103,887,771.83.ThedifferenceofRMB18,967,646.17wasincludedinsharepremiumundercapitalreserves.

3)AsstatedinNoteIX(4)tothefinancialstatements,duringtheperiod,theCompanydisposedof49.00%equityinterestsinitssubsidiarySkyFendTechnology.Thedifferencebetweenthedisposalpriceandtheequityshareofthesubsidiarycorrespondingtothedisposalofthelong-termequityinvestmentcalculatedcontinuouslyfromthedateofconsolidationwasRMB89,343,149.31,whichwasusedtoadjustthesharepremium.

(2)Changesinothercapitalreserves

AsstatedinNoteXV(2)tothefinancialstatements,theCompanyamortizesequityincentiveexpensesininstallmentsasequity-settledshare-basedpaymentsinexchangefor

/

employeeservices.Duringtheperiod,amortizationofRMB15,660,936.03wasrecordedinadministrativeexpenses,increasingcapitalreserves(othercapitalreserves)byRMB15,660,936.03accordingly.

56.Treasuryshares

√Applicable□Notapplicable

Unit:RMB

Item	Openingbalance	Increaseduringtheperiod	Decreaseduringtheperiod	Closingbalance
Amountusedtorepurchaseshares	100,280,543.07	146,540,449.03	103,887,771.83	142,933,220.27
Total	100,280,543.07	146,540,449.03	103,887,771.83	142,933,220.27

Otherinformation,includingthechangesduringtheperiodandthereasonsforthechanges:

1)AccordingtotheSixthMeetingoftheFourthBoardofDirectors,theCompanyintendedtouseitsownfundstorepurchasesharesontheopenmarketforemployeestockownershipplansorequityincentives.TheCompanyrepurchasedatotalof7,665,527sharesduringtheperiod,withatotalpaymentofRMB146,540,449.03(excludingtransactioncosts),increasingthetreasurysharesbyRMB146,540,449.03accordingly.

2)AsstatedinNoteXV(2)tothefinancialstatements,duringtheperiod,theCompanyestablishedanemployeelong-termincentivefundtopurchaseitstreasurysharesforemployeestockownershipplans.TheemployeestockownershipplansreceivedasubscriptionpaymentofRMB122,855,418.00fromtheemployeelong-termincentivefund,andthetreasurysharerepurchasecostwasRMB103,887,771.83.ThedifferenceofRMB18,967,646.17wasincludedinsharepremiumundercapitalreserves.

57.Othercomprehensiveincome

√Applicable□Notapplicable

Unit:RMB

Item	Openingbalance	Duringtheperiod						Closingbalance
		Amountbeforeincometax	Less:amountpreviouslyrecognizedinothercomprehensiveincomeandcurrentlytransferredtoprofitorloss	Less:amountpreviouslyrecognizedinothercomprehensiveincomeandcurrentlytransferredtoretainedearnings	Less:Incometaxexpense	After-taxamountattributabletotheparentcompany	After-taxamountattributabletonon-controllinginterests

/

Othercomprehensiveincomethatwillbereclassifiedtoprofitorloss	-950,923.83	-27,481,346.43		-27,272,544.01	-208,802.42	-28,223,467.84
Differencesarisingfromthetranslationofforeigncurrency-denominatedfinancialstatements	-950,923.83	-27,481,346.43		-27,272,544.01	-208,802.42	-28,223,467.84
Totalothercomprehensiveincome	-950,923.83	-27,481,346.43		-27,272,544.01	-208,802.42	-28,223,467.84

58.Specificreserve

□Applicable√Notapplicable

59.Surplusreserves

√Applicable□Notapplicable

Unit:RMB

Item	Closingbalanceofthepriorperiod	Adjustmenttoopeningbalance	Openingbalance	Increaseduringtheperiod	Closingbalance
Statutorysurplusreserves	173,465,094.17	-5,653,714.94	167,811,379.23	19,105,043.18	186,916,422.41
Total	173,465,094.17	-5,653,714.94	167,811,379.23	19,105,043.18	186,916,422.41

Notestosurplusreserves,includingthechangesduringtheperiodandthereasonsforthechanges:

AstheCompanydisposedof54%equityinterestsinSkyFendTechnologyandceasedtocontrolitduringtheperiod,theaccountingoftheremainingequityinterestsinSkyFendTechnologywaschangedfromthecostmethodtotheequitymethodandtheopeningbalancewasadjusted,affectingtheopeningstatutorysurplusreservesbyRMB-5,653,714.94.

60.Retainedearnings

√Applicable□Notapplicable

Unit:RMB

Item

2024

2023

/

Retainedearningsasattheendoftheprioryearbeforeadjustment	1,201,893,803.39	1,025,095,627.60
Adjustmenttoopeningretainedearnings(“+”forincrease,“-”fordecrease)	5,653,714.94
Openingretainedearningsafteradjustment	1,207,547,518.33	1,025,095,627.60
Add:Netprofitattributabletoownersoftheparentcompanyduringtheperiod	640,925,193.32	179,233,332.27
Less:Appropriationtostatutorysurplusreserves	19,105,043.18	2,435,156.48
Dividendspayabletoordinaryshareholders	352,716,563.20	-
Closingretainedearnings	1,476,651,105.27	1,201,893,803.39

1)Theincreaseinretainedearningsisthetransferofnetprofitattributabletoownersoftheparentcompanyintheperiod.

2)ThedecreaseinretainedearningsisduetotheprovisionofstatutorysurplusreservesofRMB19,105,043.18andthedistributionofdividendsofRMB352,716,563.20toshareholdersinaccordancewiththeArticlesofAssociationandtheresolutionoftheBoardofDirectors.

61.Operatingrevenueandcostofsales

(1)Detailsofoperatingrevenueandcostofsales

√Applicable□Notapplicable

Unit:RMB

Item	2024		2023
	Revenue	Costs	Revenue	Costs
Principaloperations	3,884,974,510.40	1,731,705,730.20	3,215,723,685.14	1,443,530,077.84
Otheroperations	47,281,937.06	25,462,593.38	35,428,555.11	29,753,123.37
Total	3,932,256,447.46	1,757,168,323.58	3,251,152,240.25	1,473,283,201.21
Ofwhich:Revenuegeneratedbycontractswithcustomers	3,923,635,406.08	1,755,635,585.59	3,244,001,593.60	1,472,954,336.49

(2)Breakdownofoperatingrevenueandcostofsales

√Applicable□Notapplicable

Unit:RMB

/

Categoryofcontract	Total
	Operatingrevenue
Byproductcategory
Automotivediagnosticproducts	1,267,392,301.38
TPMSproducts	705,749,907.80
ADASproducts	390,456,731.32
Intelligentchargingnetworks	866,700,611.74
Otherproducts	208,834,392.19
Cloud-basedsoftwareservices	445,840,565.99
Materialsales	38,660,895.66
Subtotal	3,923,635,406.08
Byoperatingsegment
China	101,182,767.60
NorthAmerica	1,989,837,916.02
Europe	789,891,613.84
Otherregions	1,042,723,108.62
Subtotal	3,923,635,406.08
Bythetimeofproducttransfer
Revenuerecognizedatapointintime	3,477,794,840.09
Revenuerecognizedwithinaperiodoftime	445,840,565.99
Subtotal	3,923,635,406.08
Total	3,923,635,406.08

Otherinformation:

√Applicable□Notapplicable

TherevenuerecognizedduringtheperiodandincludedintheopeningcarryingamountofcontractliabilitiesisRMB260,466,688.56.

(3)Contractperformanceobligations

√Applicable□Notapplicable

Unit:RMB

Item	Timetomeetthecontractperformanceobligation	Importantpaymentterms	NatureoftheproductsthattheCompanyundertakestotransfer	WhethertheCompanyisthemainresponsibleparty	AmountthattheCompanyexpectstoreturntocustomers	Typeofproductwarrantyandrelatedobligations
Saleofproducts	Whentheproductisdelivered	Thepaymentperiodisgenerallywithin90daysafterproductdelivery	Product	Yes	-	Guaranteetype
Rendering	Whenthe	Generally	Software	Yes	-	None

/

ofservices	serviceisprovided	prepaid	services,andrentalservices
Total	/	/	/	/	-	/

(4)Allocationtotheremainingcontractperformanceobligations

√Applicable□NotapplicableTherevenuecorrespondingtothecontractperformanceobligationsthathadbeensignedbutnotyetperformedorfullyperformedattheendoftheReportingPeriodisRMB499,395,989.55.TheCompanyexpectsthatthesaidamountwillberecognizedasrevenueinthenext12-36monthsascustomersuseitsproductsandservices.

(5)Significantchangesincontractsorsignificantadjustmentstotransactionprices

□Applicable√NotapplicableOtherinformation:

TherevenuerecognizedduringtheperiodandincludedintheopeningcarryingamountofcontractliabilitiesisRMB260,466,688.56.

62.Taxesandlevies

√Applicable□Notapplicable

Unit:RMB

Item	2024	2023
Urbanconstructionandmaintenancetax	5,719,279.94	4,651,153.72
Educationalsurtax	2,451,120.04	1,993,352.78
Propertytax	6,470,611.09	3,569,323.22
Landusetax	757,209.18	199,120.78
Stampduty	2,736,219.99	1,674,063.56
Localeducationalsurtax	1,634,079.96	1,328,871.27
Vehicleandvesselusetax	56,064.48	4,530.00
Other	1,960,520.75	1,486,580.18
Total	21,785,105.43	14,906,995.51

Otherinformation:

None.

63.Sellingexpense

√Applicable□Notapplicable

/

Unit:RMB

Item	2024	2023
Employeesalariesandbenefits	288,347,529.67	234,455,684.45
Businesspromotionexpenses	44,924,403.33	54,242,941.70
Transportationandtravelexpenses	39,423,557.94	38,952,696.09
Exhibitionandsampleexpenses	39,368,400.80	35,991,439.26
Consultingandservicecharges	35,927,903.93	18,367,071.49
Warehousingcharges	24,638,658.96	16,115,430.62
Customsfees	16,849,238.39	10,779,339.40
Leaseexpenses	10,152,345.08	7,189,614.58
Depreciationandamortizationexpenses	9,887,327.95	8,707,421.16
Insurancepremiums	5,431,779.87	7,990,353.33
Other	44,062,163.52	48,513,683.49
Total	559,013,309.44	481,305,675.57

Otherinformation:

None.

64.Administrativeexpense

√Applicable□Notapplicable

Unit:RMB

Item	2024	2023
Employeesalariesandbenefits	156,453,770.88	110,439,385.28
Professionalagencyservicecharges	86,065,089.50	92,446,732.47
Depreciationandamortizationexpenses	33,208,555.81	34,381,394.63
Leaseexpenses	5,530,065.49	5,581,849.69
Officecommunicationandconferenceexpenses	4,714,818.84	5,500,152.24
Transportationandtravelexpenses	4,436,934.24	4,706,026.97
Recruitmentandtrainingexpenses	2,182,023.41	1,662,305.60
Other	31,202,817.63	28,529,957.67
Total	323,794,075.80	283,247,804.55

Otherinformation:

None.

65.R&Dexpense

√Applicable□Notapplicable

Unit:RMB

Item

2024

2023

/

Employeesalariesandbenefits	392,626,007.28	348,081,406.17
Depreciationandamortizationexpenses	86,326,527.80	74,434,867.47
Professionalservicecharges	76,944,862.82	47,299,415.53
Materialconsumption	53,301,111.76	33,260,614.82
Rentandmanagementexpenses	3,424,243.36	3,408,992.89
Transportationandtravelexpenses	9,353,851.37	6,526,002.45
CommissionedR&Dexpenses	1,032,135.31	5,048,459.76
Other	12,774,685.36	17,036,065.88
Total	635,783,425.06	535,095,824.97

Otherinformation:

None.

66.Financecosts

√Applicable□Notapplicable

Unit:RMB

Item	2024	2023
Interestcosts	69,503,846.88	67,128,868.00
Less:Interestincome	26,120,309.87	10,512,615.80
Exchangegainsandlosses	-38,679,264.14	-74,116,893.78
Other	17,173,294.56	13,707,045.47
Total	21,877,567.43	-3,793,596.11

Otherinformation:

None.

67.Otherincome

√Applicable□Notapplicable

Unit:RMB

Bynature	2024	2023
Asset-relatedgovernmentgrants	842,780.59	976,274.67
Income-relatedgovernmentgrants	69,872,885.59	62,779,474.07
Returnofauxiliaryexpenseforindividualincometaxwithheld	873,007.72	893,895.98
Over-deductioninthecalculationofinputtax	170.14	4,105.59
Total	71,588,844.04	64,653,750.31

Otherinformation:

/

None.

68.Returnoninvestment

√Applicable□Notapplicable

Unit:RMB

Item	2024	2023
Incomefromstructureddeposits	26,849.32	3,439,324.76
Incomefromthedisposalofheld-for-tradingfinancialliabilities		-8,636,079.59
Incomefromthedisposalofequityinstruments	1,257,286.60	2,606,087.22
Incomefromthedisposalofsubsidiaries	98,742,349.01
Returnonlong-termequityinvestmentsundertheequitymethod	-11,088,794.24
Total	88,937,690.69	-2,590,667.61

Otherinformation:

None.

69.Netgainonexposurehedges

□Applicable√Notapplicable

70.Gainonchangesinfairvalue

√Applicable□Notapplicable

Unit:RMB

Sourceofgainonchangesinfairvalue	2024	2023
Othernon-currentfinancialassets	-8,076,897.07	-14,851,581.32
Ofwhich:Gainonchangesinthefairvalueofequityinvestments	-8,076,897.07	-14,851,581.32
Total	-8,076,897.07	-14,851,581.32

Otherinformation:

None.

71.Creditimpairmentloss

√Applicable□Notapplicable

/

Unit:RMB

Item	2024	2023
Lossonbaddebtsofaccountsreceivableandotherreceivables	-23,484,512.82	-17,762,445.82
Total	-23,484,512.82	-17,762,445.82

Otherinformation:

None.

72.Assetimpairmentloss

√Applicable□Notapplicable

Unit:RMB

Item	2024	2023
Lossonimpairmentsofinventoriesandcontractperformancecosts	-93,162,576.87	-75,250,361.53
Lossonimpairmentsoflong-termequityinvestments		-1,400,580.34
Total	-93,162,576.87	-76,650,941.87

Otherinformation:

None.

73.Gainsondisposalofassets

√Applicable□Notapplicable

Unit:RMB

Item	2024	2023
Gainsondisposaloffixedassets	-277,119.50	138,582.47
Gainsondisposalofotherassets		368,920.47
Total	-277,119.50	507,502.94

Otherinformation:

None.

74.Non-operatingincomeBreakdown:

√Applicable□Notapplicable

Unit:RMB

/

Item	2024	2023	Amountrecordedinexceptionalgainsandlosses
Compensations	2,006,300.00	657,050.00	2,006,300.00
Other	1,165,006.86	499,019.95	1,165,006.86
Total	3,171,306.86	1,156,069.95	3,171,306.86

Otherinformation:

□Applicable√Notapplicable

75.Non-operatingexpenses

√Applicable□Notapplicable

Unit:RMB

Item	2024	2023	Amountrecordedinexceptionalgainsandlosses
Liquidateddamagesandcompensations	8,697,406.71	6,723,060.58	601,438.04
Lossondamagesandscrappingofnon-currentassets	4,557,292.34	531,566.22	4,557,292.34
Latepaymentfeesandfines	259,305.13	1,029,047.09	259,305.13
Settlementmoney		221,197,416.00
Compensationsforpendinglitigation		24,789,450.64
Other	853,385.72	350,263.67	853,385.72
Total	14,367,389.90	254,620,804.20	6,271,421.23

Otherinformation:

□Applicable√Notapplicable

76.Incometaxexpense

(1)Scheduleofincometaxexpense

√Applicable□Notapplicable

Unit:RMB

Item	2024	2023
Currentincometaxexpense	107,056,224.17	70,152,635.96
Deferredincometaxexpense	-30,229,866.81	-42,927,700.10

/

Total

76,826,357.36

27,224,935.86

(2)Reconciliationbetweenaccountingprofitandincometaxexpense

√Applicable□Notapplicable

Unit:RMB

Item	2024
Grossprofit	637,163,986.15
Incometaxexpensebasedontheapplicabletaxrateoftheparentcompany	95,574,597.92
Effectsofdifferenttaxratesofsubsidiaries	-65,115,275.46
Over-deductioninthecalculationofthetaxableamountinrelationtoR&Dexpense	-91,591,093.97
Effectsofnon-deductiblecosts,expensesandlosses	3,478,432.78
Effectsoftheutilizationofdeductiblelossesonwhichdeferredincometaxassetswereunrecognizedinthepriorperiod	-2,600,729.53
Effectsofdeductibletemporarydifferencesorlossesonwhichdeferredincometaxassetsareunrecognizedinthecurrentperiod	138,614,348.60
Effectsofadjustmentstoincometaxofthepriorperiod	-1,533,922.98
Incometaxexpense	76,826,357.36

Otherinformation:

□Applicable√Notapplicable

77.Othercomprehensiveincome

√Applicable□NotapplicablePleaserefertoNoteVII(57).

78.Cashflowstatementitems

(1)CashflowsfromoperatingactivitiesCashgeneratedfromotheroperatingactivities:

√Applicable□Notapplicable

Unit:RMB

Item	2024	2023
Cashgeneratedinbusinessoperations	11,506,894.55	4,860,465.35
Governmentgrants	8,672,231.93	28,153,800.11
Interestincome	24,744,931.46	13,064,766.14
Decreaseinsecuritydeposits,etc.	13,357,181.00	1,246,516.58
Other	23,582,111.69	9,742,830.40
Total	81,863,350.63	57,068,378.58

/

Notestocashgeneratedfromotheroperatingactivities:

None.Cashusedinotheroperatingactivities:

√Applicable□Notapplicable

Unit:RMB

Item	2024	2023
Cashusedinbusinessoperations		459,095.65
Out-of-pocketexpensesandsettlements	929,604,401.97	575,824,983.98
Increaseinsecuritydeposits,etc.	2,974,460.20	421,374.09
Other		2,022,647.61
Total	932,578,862.17	578,728,101.33

Notestocashusedinotheroperatingactivities:

None.

(2)CashflowsfrominvestingactivitiesSubstantialcashgeneratedfrominvestingactivities:

√Applicable□Notapplicable

Unit:RMB

Item	2024	2023
Cashgeneratedfromforwardforeignexchangesettlementandsalescontracts		171,424,030.00
Structureddeposits	40,000,000.00	1,830,000,000.00
Recoveryofinvestmentprincipaloffinancialassets	8,624,416.78	5,592,203.38
Total	48,624,416.78	2,007,016,233.38

Notestosubstantialcashgeneratedfrominvestingactivities:

None.Substantialcashusedininvestingactivities:

√Applicable□Notapplicable

Unit:RMB

Item	2024	2023
Fundsinvestedinforwardforeignexchangesettlementandsalescontracts		195,146,410.00
Structureddeposits	40,000,000.00	1,830,000,000.00

/

Total

40,000,000.00

2,025,146,410.00

Notestosubstantialcashusedininvestingactivities:

None.Cashgeneratedfromotherinvestingactivities:

□Applicable√NotapplicableCashusedinotherinvestingactivities:

□Applicable√Notapplicable

(3)CashflowsfromfinancingactivitiesCashgeneratedfromotherfinancingactivities:

□Applicable√NotapplicableCashusedinotherfinancingactivities:

√Applicable□Notapplicable

Unit:RMB

Item	2024	2023
Sharerepurchase	146,540,449.03
Repaymentofleaseliabilities	22,465,551.03	21,444,763.49
Other		500,000.00
Total	169,006,000.06	21,944,763.49

Notestocashusedinotherfinancingactivities:

None.Changesinliabilitiesincurredinfinancingactivities:

√Applicable□Notapplicable

Unit:RMB

Item	Openingbalance	Increaseduringtheperiod		Decreaseduringtheperiod		Closingbalance
		Cash	Non-cash	Cash	Non-cash
Long-termborrowings		200,000,000.00			200,000,000.00
Bondspayable(includingthecurrentportionofbondspayable)	1,134,987,458.10		47,257,451.05	6,399,029.94	31,187.04	1,175,814,692.17
Leaseliabilities(includingthecurrentportionofleaseliabilities)	67,258,320.26		10,118,976.65	22,465,551.03	2,373,455.88	52,538,290.00
Total	1,202,245,778.36	200,000,000.00	57,376,427.70	28,864,580.97	202,404,642.92	1,228,352,982.17

/

(4)Presentationofcashflowsonanetbasis

□Applicable√Notapplicable

(5)SignificantactivitiesandfinancialeffectsthatdonotinvolvecurrentcashreceiptsandpaymentsbutaffectthefinancialpositionoftheCompanyormayaffecttheCompany’scashflowsinthefuture

□Applicable√Notapplicable

79.Supplementaryinformationtothecashflowstatement

(1)Supplementaryinformationtothecashflowstatement

√Applicable□Notapplicable

Unit:RMB

Supplementaryinformation	2024	2023
1.Reconciliationofnetprofittonetcashgeneratedfrom/usedinoperatingactivities：
Netprofit	560,337,628.79	139,722,281.07
Add:Assetimpairmentprovisions	93,162,576.87	76,650,941.87
Creditimpairmentloss	23,484,512.82	17,762,445.82
Depreciationoffixedassets,depletionofright-of-useassetsandoilandgasassets,anddepreciationofproductivelivingassets	127,971,623.98	107,268,200.71
Amortizationofright-of-useassets	38,019,855.69	28,944,867.55
Amortizationofintangibleassets	11,654,865.38	17,047,299.78
Lossonthedisposaloffixedassets,intangibleassetsandotherlong-termassets(“-”forgain)	277,119.50	-507,502.94
Lossontheretirementoffixedassets(“-”forgain)	4,557,292.34	-531,566.22
Lossonchangesinfairvalue(“-”forgain)	8,076,897.07	14,851,581.32
Financecosts(“-”forincome)	33,227,167.87	-6,988,025.78
Lossoninvestment(“-”forincome)	-88,937,690.69	2,590,667.61
Decreaseindeferredincometaxassets(“-”forincrease)	-30,229,866.81	-42,927,700.10
Increaseindeferredincometaxliabilities(“-”fordecrease)
Decreaseininventories(“-”forincrease)	-111,755,217.13	-29,977,701.79
Decreaseinoperatingreceivables(“-”forincrease)	-179,383,594.94	-151,071,153.30
Increaseinoperatingpayables(“-”fordecrease)	241,393,379.08	256,395,191.18
Others	15,660,936.03	4,826,591.09
Netcashgeneratedfrom/usedinoperatingactivities	747,517,485.85	434,056,417.87
2.Significantinvestingandfinancingactivitiesthatinvolvenocashproceedsor

/

payments：
Conversionofdebttocapital
Currentportionofconvertiblecorporatebonds
Fixedassetsunderfinanceleases
3.Netchangesincashandcashequivalents：
Closingbalanceofcash	1,709,958,534.86	1,474,409,219.41
Less:Openingbalanceofcash	1,474,409,219.41	1,431,875,592.80
Add:Closingbalanceofcashequivalents
Less:Openingbalanceofcashequivalents
Netincreaseincashandcashequivalents	235,549,315.45	42,533,626.61

(2)Netcashpaymentsfortheacquisitionofsubsidiariesintheperiod

□Applicable√Notapplicable

(3)Netcashproceedsfromthedisposalofsubsidiariesintheperiod

√Applicable□Notapplicable

Unit:RMB

	Amount
Cashorcashequivalentsreceivedintheperiodfromthedisposalofsubsidiariesintheperiod	41,905,000.00
Less:CashandcashequivalentsheldbysubsidiaryatthedatewhentheCompanyceasestocontrolthesubsidiary	109,333,254.52
Add:Cashorcashequivalentsreceivedintheperiodfromthedisposalofsubsidiariesinpriorperiods
Netcashproceedsfromthedisposalofsubsidiaries	-67,428,254.52

Otherinformation::

None.

(4)Breakdownofcashandcashequivalents

√Applicable□Notapplicable

Unit:RMB

Item	Closingbalance	Openingbalance
ICash	1,709,958,534.86	1,474,409,219.41
Ofwhich:Cashonhand	1,937,347.68	3,695,461.41
Bankdepositsthatcanbereadilydrawnondemand	1,668,118,304.47	1,426,284,561.83
Othermonetaryassetsthatcanbereadilydrawnondemand	39,902,882.71	44,429,196.17
IICashequivalents
Ofwhich:Bondinvestmentsthat

/

willbeduewithinthreemonths
IIICashandcashequivalents,endoftheperiod	1,709,958,534.86	1,474,409,219.41

(5)Itemsthatwererestrictedinusebutstillpresentedascashandcashequivalents

√Applicable□Notapplicable

Unit:RMB

Item	2024	Reasonforrestriction
Raisedfunds	300,130,687.21	Specifiedscopeofuse
Total	300,130,687.21	/

(6)Monetaryassetsthatwerenotrecordedincashandcashequivalents

√Applicable□Notapplicable

Unit:RMB

Item	2024	2023	Reason
Billdeposits	84,885,705.74		Restricteduse
Guaranteedeposits	2,019,146.72		Restricteduse
Customsdeposits	27,417,089.32	13,165,243.65	Restricteduse
AppleStoreaccountbalance	495,701.21	290,372.78	Restricteduse
ETCdeposits	7,500.00	7,500.00	Restricteduse
Frozenfunds	3,892,370.84	3,258,320.00	Restricteduse
Total	118,717,513.83	16,721,436.43	/

Otherinformation:

□Applicable√Notapplicable

80.Notestotheitemsofthestatementofchangesinowners’equityItemsandadjustedamountsin“others”withrespecttoadjustmentstotheclosingbalanceoflastyear:

□Applicable√Notapplicable

81.Monetaryitemsdenominatedinforeigncurrencies

(1)Monetaryitemsdenominatedinforeigncurrencies

√Applicable□Notapplicable

Unit:RMB

Item	Closingbalanceinforeigncurrency	Exchangerate	ClosingbalanceinRMB
Monetaryassets			1,030,056,268.80

/

Ofwhich:USD	104,457,798.16	7.1884	750,884,436.30
EUR	24,852,955.37	7.5257	187,035,886.23
JPY	576,023,857.00	0.0462	26,612,302.19
VND	62,408,795,790.00	0.0003	18,722,638.74
MXN	39,615,631.78	0.3498	13,857,548.00
AED	114,819.20	1.9711	226,320.13
AUD	187,330.43	4.5070	844,298.25
IDR	17,000.00	0.0005	8.5
HKD	5,117.87	0.9260	4,739.15
GBP	1,112,561.84	9.0765	10,098,167.54
BRL	17,749,117.80	1.1635	20,651,098.56
SGD	219,671.92	5.0498	1,109,299.26
ARS	100	0.0071	0.71
SEK	14,509.12	0.6565	9,525.24
Accountsreceivable			858,304,671.76
Ofwhich:USD	84,000,373.59	7.1884	603,828,285.51
EUR	26,788,528.40	7.5257	201,602,428.18
JPY	210,287,670.93	0.0462	9,722,229.89
VND	8,623,210,347.12	0.0003	2,436,505.33
MXN	21,329,610.04	0.3498	7,460,514.18
AUD	24,169.64	4.5070	108,932.57
GBP	2,397,969.99	9.0765	21,765,174.61
BRL	9,778,363.38	1.1635	11,377,411.71
NZD	778.85	4.0955	3,189.78
Otherreceivables			15,328,154.96
Ofwhich:USD	790,746.39	7.1884	5,684,201.36
EUR	739,413.68	7.5257	5,564,605.53
JPY	3,923,999.96	0.0462	181,418.29
VND	9,462,867,101.66	0.0003	2,669,133.76
MXN	565,524.07	0.3498	197,804.85
AUD	134,085.98	4.5070	604,325.51
GBP	14,939.20	9.0765	135,595.65
HKD	532.9	0.9260	493.49
BRL	249,737.14	1.1635	290,576.46
AED	0.03	1.9711	0.06
Accountspayable			70,374,217.31
Ofwhich:USD	4,653,194.82	7.1884	33,449,025.65
EUR	645,132.21	7.5257	4,855,071.51
JPY	165,175.52	0.0462	7,636.56
AUD	3,328.60	4.5070	15,002.01
GBP	64,970.01	9.0765	589,700.29
VND	109,691,787,175.46	0.0003	30,993,633.85
SGD	86,779.80	5.3214	461,790.02
BRL	15.99	1.1635	18.60
AED	0.0101464	1.9711	0.02
MXN	6,686.63	0.3498	2,338.80
Otherpayables			52,467,546.46
Ofwhich:USD	4,839,153.03	7.1884	34,785,767.67

/

EUR	2,090,746.47	7.5257	15,734,330.73
JPY	7,617,280.95	0.0462	352,169.75
VND	23,380,320.28	0.0003	6,606.16
GBP	83,929.58	9.0765	761,786.84
HKD	499,533.34	0.9260	462,587.85
BRL	34,690.28	1.1635	40,363.16
AUD	71,873.60	4.5070	323,934.31

Otherinformation:

□Applicable√Notapplicable

(2)Overseasbusinessentities(forsubstantialoverseasbusinessentities,thefollowinginformationshallbedisclosed:principalplaceofbusiness,functionalcurrencyandbasisforthechoiceoffunctionalcurrency,changeoffunctionalcurrencyandreasons)

√Applicable□Notapplicable

Entity	Principalplaceofbusiness	Functionalcurrency	Basisforthechoiceoffunctionalcurrency
AutelCalifornia	USA	USD	Operatingcurrency
AutelNewYork	USA	USD	Operatingcurrency
AutelGermany	Germany	EUR	Operatingcurrency
AutelHongKong	HongKong	HKD	Operatingcurrency
AutelVietnam	Vietnam	VND	Operatingcurrency
AutelJapan	Japan	JPY	Operatingcurrency
AutelDubai	Dubai	AED	Operatingcurrency
AutelItaly	Italy	EUR	Operatingcurrency
AutelMexico	Mexico	MXN	Operatingcurrency
AutelBrazil	Brazil	BRL	Operatingcurrency
AutelUK	UK	GBP	Operatingcurrency
AvantIntelligenceUK	UK	GBP	Operatingcurrency
AutelNetherlands	Netherlands	EUR	Operatingcurrency
AutelEcomAmerica	USA	USD	Operatingcurrency
AutelNewEnergyUS	USA	USD	Operatingcurrency
AutelNewEnergyEcomUS	USA	USD	Operatingcurrency

/

Entity	Principalplaceofbusiness	Functionalcurrency	Basisforthechoiceoffunctionalcurrency
AutelFrance	France	EUR	Operatingcurrency
AutelAustralia	Australia	AUD	Operatingcurrency
AutelNewEnergyVietnam	Vietnam	VND	Operatingcurrency
AutelSweden	Sweden	SEK	Operatingcurrency
AutelSpain	Spain	EUR	Operatingcurrency

82.Leases

(1)Asthelessee

√Applicable□NotapplicableVariableleasepaymentsnotincludedinthemeasurementofleaseliabilities:

□Applicable√NotapplicableExpensesonshort-termleasesandleasesoflow-valueassetsforwhichasimplifiedaccountingapproachwasadopted:

√Applicable□Notapplicable

Item	2024	2023
Expensesonshort-termleases	12,447,729.04	16,057,054.14
Total	12,447,729.04	16,057,054.14

Saleandleasebacktransactionsandbasisofjudgment:

□Applicable√NotapplicableTotalcashusedinleaseswasRMB34,913,280.07.

(2)AsthelessorOperatingleasesasthelessor:

√Applicable□Notapplicable

Unit:RMB

Item

Leaseincome

Ofwhich:Incomerelatedtovariableleasepaymentsand

/

		notincludedinleasereceipts
Leaseincome	8,621,041.38
Total	8,621,041.38

Financeleasesasthelessor:

□Applicable√NotapplicableReconciliationofundiscountedleasereceiptstonetinvestmentinleases:

□Applicable√NotapplicableUndiscountedleasereceiptsforthenextfiveyears:

√Applicable□Notapplicable

Unit:RMB

Item	Undiscountedleasereceipts
	Closingamount	Openingamount
Thefirstyear	3,068,639.04	4,343,032.51
Thesecondyear	2,541,570.72	2,646,871.50
Thethirdyear	2,668,654.56	2,359,219.20
Beyondthethirdyear	7,251,628.80	10,316,633.60
Total	15,530,493.12	19,665,756.81

(3)Gainsorlossesonsalesrecognizedunderfinanceleasesasaproducerordistributor

□Applicable√NotapplicableOtherinformation:

None.

83.Dataresources

□Applicable√Notapplicable

84.Otherinformation

□Applicable√NotapplicableVIIIR&DCosts

1.Presentedbynature

√Applicable□Notapplicable

Unit:RMB

/

Item	2024	2023
Employeesalariesandbenefits	429,335,356.55	389,805,598.55
Depreciationandamortizationexpenses	86,326,527.80	74,434,867.47
Professionalservicecharges	76,944,862.82	47,299,415.53
Materialconsumption	60,835,493.32	52,568,197.22
Rentandmanagementexpenses	3,424,243.36	6,055,702.80
Transportationandtravelexpenses	9,353,851.37	6,526,002.45
CommissionedR&Dexpenses	1,032,135.31	5,048,459.76
Other	12,774,685.32	14,389,355.97
Total	680,027,155.85	596,127,599.75
Ofwhich:ExpensedR&Dcosts	635,783,425.06	535,095,824.97
CapitalizedR&Dcosts	44,243,730.79	61,031,774.78

Otherinformation:

None.

/

2.DevelopmentcostsonR&Dprojectseligibleforcapitalization

√Applicable□Notapplicable

Unit:RMB

Item	Openingbalance	Increaseduringtheperiod		Decreaseduringtheperiod		Closingbalance
		Internaldevelopmentcosts	Other	Recognizedasintangibleassets	Transferredtoprofitorloss
Automotivediagnosticproductdevelopmentproject1	1,714,745.68	17,117,187.60				18,831,933.28
Automotivediagnosticproductdevelopmentproject2	3,236,540.93	536,335.96		3,772,876.89		-
Automotivediagnosticproductdevelopmentproject3	-	5,620,378.67		-		5,620,378.67
Automotivediagnosticproductdevelopmentproject4	-	1,176,637.85		-		1,176,637.85
Automotivediagnosticproductdevelopmentproject5	-	946,198.87		-		946,198.87
EV-relatedproductdevelopmentproject1	29,164,244.38	3,368,655.15		32,532,899.53		-
EV-relatedproductdevelopmentproject2	5,572,283.54	3,895,128.23		-		9,467,411.77
EV-relatedproductdevelopmentproject3	8,106,078.97	11,583,208.46		-		19,689,287.43
Total	47,793,893.50	44,243,730.79		36,305,776.42		55,731,847.87

/

SignificantcapitalizedR&Dprojects:

√Applicable□Notapplicable

Item	R&Dprogress	Estimatedtimeofcompletion	Expectedwayofgeneratingeconomicbenefits	Whentostartcapitalization	Specificbasis
Automotivediagnosticproductdevelopmentproject1	95%	June2025	Sellingproducts	November2023	Reviewmeeting
Automotivediagnosticproductdevelopmentproject2	77%	March2025	Sellingproducts	January2023	Reviewmeeting
Automotivediagnosticproductdevelopmentproject3	89%	March2025	Sellingproducts	May2024	Reviewmeeting
Automotivediagnosticproductdevelopmentproject4	88%	March2025	Sellingproducts	May2024	Reviewmeeting
Automotivediagnosticproductdevelopmentproject5	93%	April2025	Sellingproducts	March2024	Reviewmeeting
EV-relatedproductdevelopmentproject1	100%	January2025	Sellingproducts	January2023	Reviewmeeting
EV-relatedproductdevelopmentproject2	95%	June2025	Sellingproducts	June2023	Reviewmeeting

Impairmentprovisionsfordevelopmentcosts:

√Applicable□Notapplicable

Unit:RMB

Item	Openingbalance	Increaseduringtheperiod	Decreaseduringtheperiod	Closingbalance	Impairmenttest
Automotivediagnosticproductdevelopmentproject6	2,280,275.33	-	-	2,280,275.33	/
Total	2,280,275.33	-	-	2,280,275.33	/

Otherinformation:

None.

/

3.SignificantongoingoutsourcedR&Dprojects

□Applicable√NotapplicableIXChangestotheScopeoftheConsolidatedFinancialStatements

1.Businesscombinationsnotinvolvingentitiesundercommoncontrol

□Applicable√Notapplicable

2.Businesscombinationsinvolvingentitiesundercommoncontrol

□Applicable√Notapplicable

3.Counter-purchases

□Applicable√Notapplicable

/

4.DisposalofsubsidiariesIndicatewhethertherewasanytransactionormatterintheperiodwheretheCompanyceasedtocontrolasubsidiary.

√Applicable□Notapplicable

Unit:RMB

Nameofsubsidiary

Timeofceaseofcontrol

Disposalpriceatthetimeofceaseofcontrol

Proportionofdisposalatthetimeofceaseofcontrol(%)

Disposalmethodatthetimeofceaseofcontrol

Basisfordeterminingtimeofceaseofcontrol

Differencebetweenthedisposalpriceandtheshareoftheequityofthesubsidiaryintheconsolidatedfinancialstatementscorrespondingtotheinvestmentdisposedof

Remainingequityinterestsonthedateofceaseofcontrol(%)

Carryingvalueofremainingequityinterestsintheconsolidatedfinancialstatementsonthedateofceaseofcontrol

Fairvalueofremainingequityinterestsintheconsolidatedfinancialstatementsonthedateofceaseofcontrol

Gainsorlossesarisingfromremeasurementofremainingequityinterestsunderthefairvaluemethod

Methodandmainassumptionsfordeterminingthefairvalueoftheremainingequityinterestsintheconsolidatedfinancialstatementsonthedateofceaseofcontrol

Amountofothercomprehensiveincomerelatedtothedisposedofequityinvestmentinthesubsidiarytransferredtoreturnoninvestmentorretainedearnings

SkyFendTechnology

April2024

6,300,000.00

5.00

Assignment

TheCompany'sshareholdingratioislessthan50%anditcannotcontrolthesubsidiary’sboardofdirectors

9,680,622.45

46.00

0.00

-31,101,726.58

89,061,726.58

ReferencetothetransactionpricewhentheCompanydisposedofa5.00%interestinSkyFendTechnology

-

Otherinformation:

/

□Applicable√NotapplicableIndicatewhetherCompanyceasedtocontrolasubsidiaryinmultipledisposalsofitsinvestmentinthesubsidiary.

√Applicable□Notapplicable

Unit:RMB

Nameofsubsidiary	Timeofpreviousequitydisposal	Priceofpreviousequitydisposal	Equityinterestsdisposedofpreviously(%)	Methodofpreviousequitydisposal	Differencebetweenthepriceofpreviousequitydisposalandtheshareoftheequityofthesubsidiaryintheconsolidatedfinancialstatementscorrespondingtotheinvestmentdisposedof	Whetherthemultipledisposalsconstituteapackagedeal	Basisforthedeterminationofapackagedeal
SkyFendTechnology	March2024	60,025,000.00	49.00	Assignment	89,343,149.31	No	No

Otherinformation:

√Applicable□Notapplicable

TheCompany’stwoequitydisposalswereindependentdecisionsbasedondifferentbusinesspurposes.Bothequitydisposalswerecompletedindependently,andthedisposalpriceswereindependentlyevaluatedanddetermined.Thedisposalpriceswerefair,andtherewasnouneconomicfactorswhenconsideringonedisposalalone.

5.ChangestothescopeoftheconsolidatedfinancialstatementsduetootherreasonsChangestothescopeoftheconsolidatedfinancialstatementsduetootherreasons(incorporation,liquidation,etc.):

√Applicable□Notapplicable

Nameofentity

Equityacquisition

Timeofequity

Subscribedcapital

Subscriptionratio

/

	method	acquisition
AvantIntelligenceUK	Incorporated	July2024	GBP200,000	100.00%
ShenzhenDaoHeTongTaiRoboticsCo.,Ltd.	Incorporated	November2024	RMB10million	100.00%

6.Otherinformation

□Applicable√Notapplicable

/

XInterestsinOtherEntities

1.Interestsinsubsidiaries

(1)Subsidiaries

√Applicable□Notapplicable

Subsidiary	Principalplaceofbusiness	Placeofregistration	Natureofbusiness	TheCompany’sinterest		Howthesubsidiarywasobtained
				Direct	Indirect
AutelCalifornia	California,USA	California,USA	Holdingcompany	100	/	Incorporated
AutelNewYork	NewYork,USA	NewYork,USA	Businessandtrade		100	Incorporated
AutelGermany	Ismaning,Germany	Ismaning,Germany	Businessandtrade	100	/	Incorporated
AutelHunan	Changsha,China	Changsha,China	Softwaredevelopment	100	/	Combinationundercommoncontrol
AutelDigitalPower	Shenzhen,China	Shenzhen,China	Manufacturing	81.5	/	Incorporated
AutelHesheng	Shenzhen,China	Shenzhen,China	Softwaredevelopment	100	/	Incorporated
AutelHongKong	HongKong,China	HongKong,China	Holdingcompany	100	/	Incorporated
AutelVietnam	Haiphong,Vietnam	Haiphong,Vietnam	Manufacturing	/	100	Incorporated
AutelXi’an	Xi'an,China	Xi'an,China	Softwaredevelopment	100	/	Incorporated
AutelDubai	Dubai	Dubai	Businessandtrade	/	100	Incorporated
AutelJapan	Japan	Japan	Businessandtrade	/	100	Incorporated
AutelItaly	Italy	Italy	Businessandtrade	/	100	Incorporated
AutelMexico	Mexico	Mexico	Businessandtrade	10	90	Incorporated
RainbowTechnology	Shenzhen,China	Shenzhen,China	Holdingcompany	100	/	Combinationnotundercommoncontrol
RainbowInformationConsulting	Shenzhen,China	Shenzhen,China	Rentalservices	/	100	Combinationnotundercommoncontrol
AutelHainan	Haikou,China	Haikou,China	Technicalservices	100	/	Incorporated
AutelUK	London,UK	London,UK	Businessandtrade	/	100	Incorporated
AutelBrazil	SaoPaulo,Brazil	SaoPaulo,Brazil	Businessandtrade	/	100	Incorporated
AutelNetherlands	Voorburg,Netherlands	Voorburg,Netherlands	Businessandtrade	/	100	Incorporated

/

Subsidiary	Principalplaceofbusiness	Placeofregistration	Natureofbusiness	TheCompany’sinterest		Howthesubsidiarywasobtained
				Direct	Indirect
AutelHeda	Shenzhen,China	Shenzhen,China	Businessandtrade	100	/	Incorporated
AutelNewEnergyVietnam	Haiphong,Vietnam	Haiphong,Vietnam	Manufacturing	/	100	Incorporated
AutelFrance	Nanterre,France	Nanterre,France	Businessandtrade	/	100	Incorporated
AutelNewEnergyUS	NewYork,USA	NewYork,USA	Manufacturing	/	81.50	Incorporated
AutelNewEnergyEcomUS	NewYork,USA	NewYork,USA	Manufacturing	/	81.50	Incorporated
AutelEcomAmerica	NewYork,USA	NewYork,USA	Businessandtrade	/	100	Incorporated
AutelAustralia	Sydney,Australia	Sydney,Australia	Businessandtrade	/	100	Incorporated
AutelSweden	Stockholm,Sweden	Stockholm,Sweden	Businessandtrade	/	100	Incorporated
AutelSpain	Spain	Spain	Businessandtrade	/	100	Incorporated
YingtongPropertyManagement	Shenzhen,China	Shenzhen,China	Propertyservices	/	100	Incorporated
AutelHexin	Shenzhen,China	Shenzhen,China	Softwaredevelopment	/	81.50	Incorporated
HainanChizhuo	Haikou,China	Haikou,China	Businessandtrade	/	100	Incorporated
AvantIntelligenceUK	England	England	AI	/	100	Incorporated
DaoHeTongTai	Shenzhen,China	Shenzhen,China	AI	100	/	Incorporated

Notesofshareholdingpercentageinsubsidiariesdifferentfromvotingpercentage:

None.Basisofholdinghalforlessvotingrightsbutstillcontrollingtheinvesteeandholdingmorethanhalfofthevotingrightsbutnotcontrollingtheinvestee:

None.Basisofcontrollingsignificantstructuralentitiesincorporatedinthescopeofcombination:

None.BasisofdeterminingwhethertheCompanyistheagentorthemandator

/

None.Otherinformation:

None.

(2)Substantialnon-wholly-ownedsubsidiaries

□Applicable√Notapplicable

(3)Keyfinancialinformationofsubstantialnon-wholly-ownedsubsidiaries

□Applicable√Notapplicable

(4)SignificantrestrictionsontheuseofassetsandthesettlementofdebtsoftheGroup

□Applicable√Notapplicable

(5)Financialorothersupporttostructuredentitiesincludedinthescopeofconsolidatedfinancialstatements

□Applicable√NotapplicableOtherinformation:

□Applicable√Notapplicable

2.TransactionswherechangesoccurredtotheCompany’sinterestsinsubsidiaries,buttheCompanystillcontrolledthesubsidiaries

□Applicable√Notapplicable

3.Interestsinjointventuresandassociates

√Applicable□Notapplicable

(1)Substantialjointventuresandassociates

□Applicable√Notapplicable

/

(2)Keyfinancialinformationofsubstantialjointventures

□Applicable√Notapplicable

(3)Keyfinancialinformationofsubstantialassociates

□Applicable√Notapplicable

(4)Aggregatefinancialinformationofinsignificantjointventuresandassociates

□Applicable√Notapplicable

(5)Majorrestrictiononjointventuresorassociates’abilitytotransferfundstotheCompany

□Applicable√Notapplicable

(6)Excesslossesonjointventuresorassociates

□Applicable√Notapplicable

(7)Unrecognizedcommitmentsassociatedwithinvestmentsinjointventures

□Applicable√Notapplicable

(8)Contingentliabilitiesassociatedwithinvestmentsinjointventuresorassociates

□Applicable√Notapplicable

4.Substantialjointoperations

□Applicable√Notapplicable

5.InterestsinstructuredentitiesnotincludedintheconsolidatedfinancialstatementsNotestostructuredentitiesnotincludedintheconsolidatedfinancialstatements:

□Applicable√Notapplicable

6.Otherinformation

□Applicable√Notapplicable

/

XIGovernmentGrants

1.Governmentgrantsrecognizedatthereceivableamountattheperiod-end

□Applicable√NotapplicableReasonsfornotreceivingtheexpectedgovernmentgrantattheexpectedtime:

□Applicable√Notapplicable

2.Liabilitiesassociatedwithgovernmentgrants

√Applicable□Notapplicable

Unit:RMB

Financialstatementlineitem	Openingbalance	Increaseinthegovernmentgrantintheperiod	Amountrecordedinnon-operatingincomeintheperiod	Transferredtootherincomeintheperiod	Otherchangesintheperiod	Closingbalance	Asset/income-related
Deferredincome	5,118,200.51			842,780.59	-1,440,000.00	2,835,419.92	Asset-related
Total	5,118,200.51			842,780.59	-1,440,000.00	2,835,419.92	/

3.Governmentgrantsthroughprofitorloss

√Applicable□Notapplicable

Unit:RMB

Type	2024	2023
Income-related	69,872,885.59	62,779,474.07
Asset-related	842,780.59	976,274.67
Total	70,715,666.18	63,755,748.74

Otherinformation:

Governmentgrantsreturnedintheperiod:

Item	Amountreturned	Reasonforreturn
Superchargerproject	1,440,000.00	Projectincomplete
Total	1,440,000.00

ⅫRisksRelatedtoFinancialInstruments

1.Risksoffinancialinstruments

√Applicable□Notapplicable

/

Autelengagesinriskmanagementwiththeobjectiveofbalancingrisksandreturns,minimizingthenegativeimpactofrisksonAutel'soperationalperformance,andmaximizingtheinterestsofshareholdersandotherequityinvestors.Basedonthisriskmanagementobjective,Autel'sbasicstrategyistoidentifyandanalyzethevariousrisksitfaces,establishappropriaterisktolerancelevels,andimplementriskmanagement,whilemonitoringtheserisksinatimelyandreliablemannertocontrolthemwithinspecifiedlimits.Autelfacesvariousrisksrelatedtofinancialinstrumentsinitsdailyoperations,mainlyincludingcreditrisk,liquidityrisk,andmarketrisk.Themanagementhasreviewedandapprovedthepoliciesformanagingtheserisks,whicharesummarizedasfollows.i.CreditriskCreditriskreferstotheriskthatonepartytoafinancialinstrumentfailstofulfillitsobligations,resultinginfinanciallosstotheotherparty.

1.Creditriskmanagementpractices

(1)Creditriskevaluationmethod

Autelevaluateswhetherthecreditriskoftherelevantfinancialinstrumentshassignificantlyincreasedsinceinitialrecognitionateachreportingdate.Whendeterminingwhetherthecreditriskhassignificantlyincreasedsinceinitialrecognition,Autelconsidersreasonableandevidence-basedinformationthatcanbeobtainedwithoutundueadditionalcostsorefforts,includingqualitativeandquantitativeanalysesbasedonhistoricaldata,externalcreditratings,andforward-lookinginformation.Autelcomparestheriskofdefaultatthereportingdatewiththeriskofdefaultatinitialrecognitionbasedonindividualfinancialinstrumentsorgroupsoffinancialinstrumentswithsimilarcreditriskcharacteristics,todeterminethechangeinthelikelihoodofdefaultoverthefinancialinstrument’sexpectedlifetime.

Autelconsidersthecreditriskofafinancialinstrumenttohavesignificantlyincreasedwhenoneormoreofthefollowingquantitativeorqualitativecriteriaaremet:

1)QuantitativeCriteria:Theprobabilityofdefaultfortheremainingmaturityatthereportingdatehasincreasedbymorethanacertainproportioncomparedtotheinitialrecognitiondate.

2)QualitativeCriteria:Thedebtorexperiencessignificantadversechangesinitsoperatingorfinancialcondition,orthereareexistingoranticipatedchangesinthe

/

technological,market,economic,orlegalenvironmentthatwillsignificantlyimpactthedebtor'sabilitytorepayAutel.

(2)DefinitionofdefaultandcreditimpairedassetsWhenafinancialinstrumentmeetsoneormoreofthefollowingconditions,Auteldefinesthefinancialassetashavingdefaulted,whichisconsistentwiththedefinitionofcreditimpairment:

1)Thedebtorfacessignificantfinancialdifficulties;

2)Thedebtorbreachesanyoftherestrictivecovenantsinthecontract;

3)Thedebtorislikelytoenterbankruptcyorundergootherfinancialrestructuring;

4)Thecreditorprovidesconcessionstothedebtorduetofinancialdifficulties,whichwouldnothavebeenmadeunderanyothercircumstances.

2.Measurementofexpectedcreditlosses

Thekeyparametersformeasuringexpectedcreditlossesincludetheprobabilityofdefault,defaultlossrate,andexposureatdefault.Autelconsidersquantitativeanalysesbasedonhistoricalstatisticaldata(suchascounterpartyratings,guaranteetypes,collateralcategories,andrepaymentmethods)andforward-lookinginformation,andestablishesmodelsfortheprobabilityofdefault,defaultlossrate,andexposureatdefault.

3.PleaserefertoNoteVII(5)andVII(9)inthefinancialstatementsfordetailedreconciliationsoftheopeningandclosingbalancesofthefinancialinstrumentlossprovisions.

4.Creditriskexposureandconcentrationofcreditrisk

Autel’screditriskmainlyarisesfrommonetaryassetsandreceivables.Tocontroltherelatedrisks,Autelhasimplementedthefollowingmeasures:

(1)Monetaryassets

Auteldepositsbankdepositsandothermonetaryassetsinfinancialinstitutionswithhighcreditratings,sothecreditriskisrelativelylow.

(2)Receivables

Autelcontinuouslyevaluatesthecreditworthinessofcustomerswithwhomitconductscredittransactions.Basedontheresultsofthecreditevaluations,weselecttotransactwithrecognizedandcreditworthycustomersandmonitorstheirreceivablebalancestoensurethatitdoesnotfacesignificantbaddebtrisks.

SinceAutelonlytransactswithrecognizedandcreditworthythirdparties,nocollateralisrequired.Creditriskconcentrationismanagedbycustomer.AsofDecember31,2024,

/

Autelhadcertaincreditconcentrationrisks,with25.13%(December31,2023:30.42%)ofthereceivablesarisingfromthetopfivecustomers.Auteldoesnotholdanycollateralorothercreditenhancementsforitsreceivablesbalance.ThemaximumcreditriskexposureAutelfacesisthecarryingamountofeachfinancialassetinthebalancesheet.ii.LiquidityriskLiquidityriskreferstotheriskthatAutelmayfaceashortageoffundswhenfulfillingitsobligationstosettleincashorotherfinancialassets.Liquidityriskmayarisefromaninabilitytosellfinancialassetsquicklyatfairvalue,orfromacounterparty’sinabilitytorepayitscontractualdebt,orfromdebtmaturingprematurely,orfromtheinabilitytogenerateexpectedcashflows.

Tocontrolthisrisk,Autelutilizesavarietyoffinancingmethods,includingbillsettlementandbankloans,andadoptsacombinationofshort-andlong-termfinancingmethodstooptimizethefinancingstructure,maintainingabalancebetweenfinancingsustainabilityandflexibility.Autelhasobtainedcreditfacilitiesfrommultiplecommercialbankstomeetworkingcapitalneedsandcapitalexpenditures.Financialliabilitiesareclassifiedbyremainingmaturity.

Item	Closingbalance
	Carryingamount	Undiscountedcontractamount	Within1Year	1-3years	Over3years
Notespayable	149,368,685.23	149,368,685.23	149,368,685.23
Accountspayable	316,951,128.22	316,951,128.22	316,951,128.22
Otherpayables	126,102,610.81	126,102,610.81	126,102,610.81
Bondspayable	1,175,814,692.17	1,354,466,392.50	15,729,768.75	45,163,098.75	1,293,573,525.00
Leaseliabilities(includingthecurrentportionofnon-currentliabilities)	52,538,290.00	55,884,890.23	29,422,497.60	23,010,948.67	3,451,443.96
Subtotal	1,820,775,406.43	2,002,773,706.99	637,574,690.61	68,174,047.42	1,297,024,968.96

(Continued)

Item	Endoflastyear
	Carryingamount	Undiscountedcontractamount	Within1year	1-3years	Over3years

/

Item	Endoflastyear
	Carryingamount	Undiscountedcontractamount	Within1year	1-3years	Over3years
Accountspayable	204,255,088.49	204,255,088.49	204,255,088.49
Otherpayables	241,363,094.35	241,363,094.35	241,363,094.35
Bondspayable	1,134,987,458.10	1,366,764,456.00	12,797,420.00	37,112,518.00	1,316,854,518.00
Leaseliabilities(includingthecurrentportionofnon-currentliabilities)	67,258,320.26	68,368,667.52	25,986,267.85	29,218,668.54	13,163,731.13
Subtotal	1,647,863,961.20	1,880,751,306.36	484,401,870.69	66,331,186.54	1,330,018,249.13

iii.MarketriskMarketriskreferstotheriskoffluctuationsinthefairvalueorfuturecashflowsoffinancialinstrumentsduetochangesinmarketprices.Marketriskprimarilyincludesforeignexchangerisk.Foreignexchangeriskreferstotheriskoffluctuationsinthefairvalueorfuturecashflowsoffinancialinstrumentsduetochangesinexchangerates.TheforeignexchangeriskfacedbyAutelismainlyrelatedtoAutel'sforeigncurrencymonetaryassetsandliabilities.Forforeigncurrencyassetsandliabilities,ifashort-termimbalanceoccurs,Autelwill,ifnecessary,buyorsellforeigncurrenciesatmarketexchangeratestoensurethatthenetriskexposureismaintainedatanacceptablelevel.

AutelhasdevelopedtheForwardForeignExchangeTradingManagementSystemtofurtherregulatetheforwardforeignexchangetradingbusiness.Auteladherestotheprinciplesoflegality,prudence,safety,andeffectiveness,withthegoalofhedgingandpreventingexchangeraterisks.BasedonAutel'sforecastedforeigncurrencyreceiptsandpayments,Autelconductsforwardforeignexchangetransactions.Autel'sforeigncurrencymonetaryassetsandliabilitiesattheendoftheperiodaredetailedinNoteVII(81)ofthefinancialstatements.

2.Hedges

(1)TheCompanyconductshedgesforriskmanagement

□Applicable√Notapplicable

/

Otherinformation:

□Applicable√Notapplicable

(2)TheCompanyconductsqualifyinghedgesandapplieshedgeaccounting

□Applicable√NotapplicableOtherinformation:

□Applicable√Notapplicable

(3)TheCompanyconductshedgesforriskmanagement,expectstoachieveitsriskmanagementobjectives,butdoesnotapplyhedgeaccounting.

□Applicable√NotapplicableOtherinformation:

□Applicable√Notapplicable

3.Transferoffinancialassets

(1)Classificationoftransfermethods

□Applicable√Notapplicable

(2)Financialassetsderecognisedduetotransfer

□Applicable√Notapplicable

(3)Transferredfinancialassetsthatcontinuetobeinvolved

□Applicable√NotapplicableOtherinformation:

□Applicable√NotapplicableXIIIDisclosureofFairValue

1.Closingfairvalueofassetsandliabilitiesmeasuredatfairvalue

√Applicable□Notapplicable

Unit:RMB

Item	Closingfairvalue

/

	Level1fairvaluemeasurement	Level2fairvaluemeasurement	Level3fairvaluemeasurement	Total
IContinuousfairvaluemeasurement
(I)Held-for-tradingfinancialassets
1.Financialassetsatfairvaluethroughprofitorloss			7,021,284.08	7,021,284.08
(1)Equityinvestments			7,021,284.08	7,021,284.08
Totalassetscontinuouslymeasuredatfairvalue			7,021,284.08	7,021,284.08

2.Basisfordeterminingthemarketpricesofcontinuousandnon-continuousLevel1fairvaluemeasurementitems

□Applicable√Notapplicable

3.Continuousandnon-continuousLevel2fairvaluemeasurementitems,valuationtechniquesused,andthequalitativeandquantitativeinformationofimportantparameters

□Applicable√Notapplicable

4.Continuousandnon-continuousLevel3fairvaluemeasurementitems,valuationtechniquesused,andthequalitativeandquantitativeinformationofimportantparameters

√Applicable□Notapplicable

ThefairvalueoftheequityinvestmentintheIsraelicompanyAutobrainsTechnologiesLtd.(formerlyknownasCarticaAILtd.)inothernon-currentfinancialassets(equityinvestments)asofDecember31,2024ismeasuredbasedontheCompany’sshareofequityinit.

5.Continuousandnon-continuousLevel3fairvaluemeasurementitems,informationontheadjustmentbetweentheopeningandclosingcarryingamounts,andsensitivityanalysisofunobservableparameters

□Applicable√Notapplicable

/

6.Ifacontinuousfairvaluemeasurementitemwasconvertedbetweenlevelsforthecurrentperiod,thereasonsforsuchconversionandthepoliciesfordeterminingtheconversionpoint

□Applicable√Notapplicable

7.Valuationtechniquechangesincurredduringtheperiodandthereasonsforsuchchanges

□Applicable√Notapplicable

8.Fairvalueoffinancialassetsandfinancialliabilitiesnotmeasuredatfairvalue

□Applicable√Notapplicable

9.Otherinformation

□Applicable√NotapplicableXIVRelatedPartiesandRelated-partyTransactions

1.TheCompany’sparentcompany

□Applicable√Notapplicable

2.SubsidiariesoftheCompany

√Applicable□NotapplicableForinformationonthesubsidiariesoftheCompany,pleaserefertoNoteX.

3.JointventuresandassociatesoftheCompany

√Applicable□NotapplicableForsubstantialjointventuresandassociatesoftheCompany,pleaserefertoNoteX.ThefollowingisotherjointventureorassociatethathasabalancewiththeCompanyfortheperiodorthathadformedabalancefromarelated-partytransactionwiththeCompanyforthepriorperiod:

√Applicable□Notapplicable

Jointventureorassociate	RelationshipwiththeCompany
SkyFendTechnology	AnassociateoftheCompany

Otherinformation:

□Applicable√Notapplicable

/

4.Otherrelatedparties

√Applicable□Notapplicable

Nameofotherrelatedparty	RelationshipwiththeCompany
AutelRobotics	UndercommoncontrolofLiHongjingwiththeCompany
NongYingbin	AmemberoftheseniormanagementoftheCompany

Otherinformation:

None.

5.Related-partytransactions

(1)Related-partytransactionsinvolvingpurchaseandsaleofgoods,aswellasreceiptandrenderingofservicesPurchasesofgoods/receiptofservices:

√Applicable□Notapplicable

Unit:RMB

Relatedparty	Contentsoftransaction	2024	2023
AutelRobotics	Dronesandelectroniccomponents	20,707.96	316,975.99

Saleofgoods/renderingofservices:

√Applicable□Notapplicable

Unit:RMB

Relatedparty	Contentsoftransaction	2024	2023
AutelRobotics	PCBAproducts	414,200.94	803,237.10

Notestorelated-partytransactionsinvolvingpurchaseandsaleofgoods,aswellasreceiptandrenderingofservices:

□Applicable√Notapplicable

(2)ManagemententrustmentandcontractingbetweentheCompanyandrelatedpartiesTheCompanyasthetrusteeofmanagement/contractor:

□Applicable√Notapplicable

/

Notestorelated-partytransactionswiththeCompanyasthetrusteeofmanagement/contractor:

□Applicable√NotapplicableTheCompanyasthetrustorofmanagement/contractee:

□Applicable√NotapplicableNotestorelated-partytransactionswiththeCompanyasthetrustorofmanagement/contractee:

□Applicable√Notapplicable

(3)LeasesbetweentheCompanyandrelatedpartiesTheCompanyasthelessor:

√Applicable□Notapplicable

Unit:RMB

Lessee	Typeoftheleasedasset	Rentalincomerecognizedintheperiod	Rentalincomerecognizedinthepriorperiod
AutelRobotics	Buildingsandconstructions	1,738,439.57	927,618.02

TheCompanyasthelessee:

□Applicable√NotapplicableNotestoleasesbetweentheCompanyandrelatedparties:

□Applicable√Notapplicable

(4)GuaranteesbetweentheCompanyandrelatedpartiesTheCompanyastheguarantor:

√Applicable□Notapplicable

Unit:RMB

Guaranteedparty	Amountofguarantee	Startdate	Enddate	Havingexpiredornot
SkyFendTechnology	92,000,000.00	2024/12/26	Threeyearsfromthedateofexpirationofthedebtperformanceperiodunderthemaincontract	No

Note:SkyFendTechnologyandtheothershareholdersofSkyFendTechnologyprovidedacounter-guaranteefortheguaranteeprovidedbytheCompanyinthetableabove.TheCompanyastheguaranteedparty:

/

√Applicable□Notapplicable

Unit:RMB

Guarantor	Amountofguarantee	Startdate	Enddate	Havingexpiredornot
LiHongjing	1,271,395.24	2023/6/18	2025/6/17	No
LiHongjing	911,066.09	2024/3/23	2026/3/22	No
LiHongjing	1,318,293.81	2023/6/1	2025/5/31	No

NotestoguaranteesbetweentheCompanyandrelatedparties:

√Applicable□Notapplicable

1)LiHongjingprovidesajoint-liabilityguaranteefortheCompany’sleaseobligationonofficespaceon4/F,TowerB1,NanshanZhiyuan,1001XueyuanAvenue,NanshanDistrict,Shenzhen,China.

2)LiHongjingprovidesajoint-liabilityguaranteefortheCompany’sleaseobligationonofficespaceon1/F,TowerB2,NanshanZhiyuan,1001XueyuanAvenue,NanshanDistrict,Shenzhen,China.

3)LiHongjingprovidesajoint-liabilityguaranteefortheCompany’sleaseobligationonofficespaceon10/F,TowerB1,NanshanZhiyuan,1001XueyuanAvenue,NanshanDistrict,Shenzhen,China.

(5)LoansbetweentheCompanyandrelatedparties

□Applicable√Notapplicable

(6)Assettransfersanddebtrestructuringinvolvingrelatedparties

√Applicable□Notapplicable

Unit:RMB

Relatedparty	Contentsoftransaction	2024	2023
LiHongjing	Transferof9%equityinterestsinSkyFendTechnology	11,025,000.00
NongYingbin	Transferof1%equityinterestsinSkyFendTechnology	1,225,000.00

(7)Remunerationofkeymanagement

√Applicable□Notapplicable

Unit:RMB’0,000

/

Item	2024	2023
Remunerationofkeymanagement	991.18	727.73

(8)Otherrelated-partytransactions

□Applicable√Notapplicable

6.Amountsduefromandtorelatedparties

(1)Amountsduefromrelatedparties

√Applicable□Notapplicable

Unit:RMB

Item	Relatedparty	Closingbalance		Openingbalance
		Grossamount	Baddebtprovision	Grossamount	Baddebtprovision
Accountsreceivable	AutelRobotics	2,956,931.65	2,802,092.90	5,309,970.55	2,973,986.82
Otherreceivables	NongYingbin	475,000.00

Note:Asofthedateofapprovalofthesefinancialstatementsforissue,theCompany’saccountreceivableofRMB475,000fromNongYingbinhavebeenrecoveredinfull.

(2)Amountsduetorelatedparties

√Applicable□Notapplicable

Unit:RMB

Item	Relatedparty	Closinggrossamount	Openinggrossamount
Accountspayable	AutelRobotics	22,558.99	198,563.30

(3)Otheritems

□Applicable√Notapplicable

7.Commitmentsinvolvingrelatedparties

□Applicable√Notapplicable

8.Otherinformation

□Applicable√NotapplicableXVShare-basedPayments

1.Equityinstruments

√Applicable□Notapplicable

Unitofquantity:share;Unitofcurrency:RMB’0,000

/

Grantrecipientcategories	Grantedintheperiod		Exercisedintheperiod		Unlockedintheperiod		Expiredintheperiod
	Quantity	Amount	Quantity	Amount	Quantity	Amount	Quantity	Amount
Managementpersonnel	1,439.17	25,269.34					321.17	11,318.44
Total	1,439.17	25,269.34					321.17	11,318.44

OutstandingStockOptionsorOtherEquityInstrumentsattheEndofthePeriod

√Applicable□Notapplicable

Grantrecipientcategories	Outstandingstockoptionsattheendoftheperiod		Outstandingotherequityinstrumentsattheendoftheperiod
	Exercisepricerange	Remainingcontractterm	Exercisepricerange	Remainingcontractterm
Managementpersonnel	RMB13.29/share,RMB26.58/share,RMB52.00/share	1-3years	RMB2.5/share	1year

Otherinformation:

None.

2.Equity-settledshare-basedpayments

√Applicable□Notapplicable

Unit:RMB

Items	2018equityincentiveplan	Class2restrictedstock	Employeestockownershipplan
Methodfordeterminingthefairvalueofequityinstrumentsonthegrantdate	Adjustmentsaremadewithreferencetotherecentshareacquisitionpricespaidbyothershareholders,whileconsideringthetermsandconditionsunderlyingthegrantedshares(excludingexercisableconditionsotherthanmarketconditions).	DeterminedusingtheBlack-Scholesoptionpricingmodel.	ThefairvalueonthegrantdateisdeterminedusingtheclosingpriceofAutel’sstockonthegrantdate.

/

Basisfordeterminingthenumberofexercisableequityinstruments	Consideringinformationsuchaschangesinthenumberofpeopleeligibletoexerciserights,theestimatednumberofrightsthatcanbeexercisedisrevised	Subsequentinformationsuchaschangesinthenumberofexercisableindividualsforrestrictedstock,completionofperformancetargets,etc.,isusedtoadjusttheestimatednumberofexercisableshares.	Considersubsequentinformationsuchaschangesinthenumberofpeopleeligibletoexerciserightsandthecompletionofperformanceindicators,andrevisetheestimatednumberofsharesthatcanbeexercised.
Reasonsforsignificantdifferencesbetweenthecurrentperiodestimateandthepreviousperiodestimate	Nochange.	Nochange.	Newlyaddedinthecurrentperiod.
Accumulatedamountofequity-settledshare-basedpaymentsrecordedincapitalreserve	26,083,441.75	96,260,909.62	823,138.71
Totalexpensesrecognizedforequity-settledshare-basedpaymentsinthecurrentperiod	1,516,519.14	13,321,278.18	823,138.71

Otherinformation:

(1)AccordingtotheequityincentiveplanapprovedbyAutel'sSecondBoardofDirectorsattheSeventhMeetingonNovember7,2018,andsubsequentlyapprovedbytheFirstExtraordinaryGeneralMeetingofShareholdersin2018,thecontrollingshareholder,LiHongjing,transferred7.35millionsharesofAuteltoDaoHeTongTai(ofwhichLiHongjingholds2.75millionshares,andotherpartnershold4.6millionshares).DaoHeTongTai,astheemployeestockownershipplatformofAutel,allowsemployeestoindirectlyholdsharesinAutel,whichispartoftheequityincentiveplanimplementedbythecontrollingshareholderforemployees,constitutingequity-settledshare-basedpayments.Additionally,accordingtothepartnershipagreement,theincentivized

/

employeesmustserveatAuteloritssubsidiariesforatleastsevenyears,andtheirshareholdinginthepartnershipenterprisebecomesexercisabletwoyearsafterthefifthanniversaryoftheirjoining,withtheexercisableportionbeingequallydistributedovertwoyears,meaning50%canbeexercisedeachyear.Noexercisehasoccurredinthecurrentperiod.

Thefairvalueonthegrantdateoftheemployeeequityincentiveplanreferstotherecentshareacquisitionpricepaidbyothershareholders,whilealsoconsideringthetermsandconditionsofthegrantedshares(excludingexercisableconditionsotherthanmarketconditions).Theestimatedinitialfairvalueofthisshare-basedpaymentisRMB23,669,300.00,withavestingperiodof50%over60monthsand50%over72months.Autelhasconfirmedshare-basedpaymentexpensesinaccordancewithrelevantrequirements,withRMB1,516,519.14recognizedinmanagementexpensesforthecurrentperiod,andthecorrespondingcapitalreserve(othercapitalreserve)ofRMB1,516,519.14.AsofDecember31,2024,thecumulativeshare-basedpaymentexpenserecognizedamountstoRMB26,083,441.75.

(2)AccordingtotherestrictedstockincentiveplanapprovedbyAutel'sThirdBoardofDirectorsattheThirdMeetingonSeptember14,2020,andapprovedbytheThirdExtraordinaryGeneralMeetingofShareholdersin2020,thefirstgrantdateissetforSeptember14,2020,withthegrantpricesetatRMB27pershare(adjustedtoRMB26.5pershare).Atotalof9.97millionrestrictedstockunitsweregrantedto137awardees.Accordingtotherelevantresolution,therestrictedstocksgrantedunderthisincentiveplanwillvestinfourstagesafterthefirst12-monthperiodfromthegrantdate,subjecttomeetingthecorrespondingvestingconditions,witheachvestingstagebeingasfollows:

Firstvestingperiod:25%afterthefirst12monthsandbefore24monthsfromthegrantdate.Secondvestingperiod:25%after24monthsandbefore36monthsfromthegrantdate.Thirdvestingperiod:25%after36monthsandbefore48monthsfromthegrantdate.Fourthvestingperiod:25%after48monthsandbefore60monthsfromthegrantdate.ThefairvalueonthegrantdatewasdeterminedusingtheBlack-Scholesoptionpricingmodel.Theestimatedinitialfairvalueofthisshare-basedpaymentwasRMB293,885,690.00,withavestingperiodof25%over12months,25%over24months,25%over36months,and25%over48months.DuetoAutel'sperformancefailingtomeetthevestingconditionsforthecurrentperiod,alltherestrictedstocksgrantedhaveexpiredandbecomeinvalid.Asaresult,noshare-basedpaymentexpensehasbeenrecognizedforthecurrentperiod.Asof

/

December31,2024,thecumulativeshare-basedpaymentexpenserecognizedamountstoRMB76,309,102.60.

(3)AccordingtothedecisionmadeattheSeventhMeetingoftheThirdBoardofDirectorsonMarch19,2021,andtheThirdExtraordinaryGeneralMeetingofShareholdersin2021,thereservegrantdateissetforMarch19,2021,withthegrantpricesetatRMB27pershare(adjustedtoRMB26.5pershare).Atotalof1.97millionrestrictedstockunitsweregrantedto76awardeesunderthereservedgrantofthe2020restrictedstockincentiveplan.Therestrictedstockgrantedwillvestinthreestages,asfollows:Firstvestingperiod:30%afterthefirst12monthsandbefore24monthsfromthegrantdate.Secondvestingperiod:30%after24monthsandbefore36monthsfromthegrantdate.Thirdvestingperiod:40%after36monthsandbefore48monthsfromthegrantdate.ThefairvalueonthegrantdatewasdeterminedusingtheBlack-Scholesoptionpricingmodel.Theestimatedinitialfairvalueofthisshare-basedpaymentwasRMB23,509,092.55,withavestingperiodof30%over12months,30%over24months,and40%over36months.DuetoAutel'sperformancefailingtomeetthevestingconditionsforthecurrentperiod,alltherestrictedstocksgrantedhaveexpiredandbecomeinvalid.Asaresult,noshare-basedpaymentexpensehasbeenrecognizedforthecurrentperiod.AsofDecember31,2024,thecumulativeshare-basedpaymentexpenserecognizedamountstoRMB6,630,528.84.

(4)AccordingtothedecisionmadeattheFourteenthMeetingoftheThirdBoardofDirectorsonDecember15,2021,andtheFirstExtraordinaryGeneralMeetingofShareholdersin2022,therestrictedstockincentiveplanfor2021wasapproved,withthefirstgrantdatesetforJanuary4,2022,andthegrantpricesetatRMB52pershare.Atotalof5.945millionrestrictedstockunitsweregrantedto211awardees.Therestrictedstockgrantedwillvestinthreestages,asfollows:Firstvestingperiod:30%afterthefirst12monthsandbefore24monthsfromthegrantdate.Secondvestingperiod:30%after24monthsandbefore36monthsfromthegrantdate.Thirdvestingperiod:40%after36monthsandbefore48monthsfromthegrantdate.ThefairvalueonthegrantdatewasdeterminedusingtheBlack-Scholesoptionpricingmodel.Theestimatedinitialfairvalueofthisshare-basedpaymentwasRMB157,595,508.68,withavestingperiodof30%over12months,30%over24months,and40%over36months.AsofDecember31,2024,duetoourperformancefailingtomeetthevestingconditions,thegrantedrestrictedstocksareexpectedtoexpireandbecomeinvalid.Asaresult,noshare-basedpaymentexpensehasbeenrecognizedforthecurrentperiod.

/

(5)AccordingtothedecisionmadeattheFourteenthMeetingoftheFourthBoardofDirectorsonSeptember28,2024,andapprovedbytheThirdExtraordinaryGeneralMeetingofShareholdersin2024,the2024RestrictedStockIncentivePlanwasapproved.ThefirstgrantdateissetforOctober21,2024,withthegrantpricesetatRMB13.29pershare.Atotalof9.7696millionrestrictedstockunitswasgrantedto229awardees.Accordingtotherelevantresolution,therestrictedstocksgrantedunderthisincentiveplanwillvestintwostages,withthefirstvestingperiodbeing50%afterthefirst12monthsandbefore24monthsfromthegrantdate,andthesecondvestingperiodbeing50%after24monthsandbefore36monthsfromthegrantdate.ThefairvalueonthegrantdateisdeterminedusingtheBlack-Scholesoptionpricingmodel.Theestimatedinitialfairvalueofthisshare-basedpaymentisRMB198,469,424.00,withavestingperiodof50%over12monthsand50%over24months.Autelhasconfirmedshare-basedpaymentexpensesinaccordancewithrelevantrequirements,withRMB13,321,278.18recognizedinvariousexpensesforthecurrentperiod,andthecorrespondingcapitalreserve(othercapitalreserve)ofRMB13,321,278.18.AsofDecember31,2024,thecumulativeshare-basedpaymentexpenserecognizedamountstoRMB13,321,278.18.

(6)AccordingtothedecisionmadeattheFourteenthMeetingoftheFourthBoardofDirectorsandapprovedbytheThirdExtraordinaryGeneralMeetingofShareholdersin2024,the2024EmployeeStockOwnershipPlanwasapproved.ThesharesforthisplanweresourcedfromthesharesrepurchasedbyAutelinitsrepurchasespecialaccount.Underthisplan,Auteltransferred4.6221millionrepurchasedsharestoemployeesatapriceofRMB26.58pershare,withtheplan’sdurationnotexceeding24monthsanda12-monthlock-upperiodfortheshares.ThefairvalueonthegrantdateisbasedonthemarketpriceofRMB29.13pershare.Thevestingperiodforthisplanis50%over12monthsand50%over14months.Autelhasconfirmedshare-basedpaymentexpensesinaccordancewithrelevantrequirements,withRMB823,138.71recognizedinvariousexpensesforthecurrentperiod,andthecorrespondingcapitalreserve(othercapitalreserve)ofRMB823,138.71.AsofDecember31,2024,thecumulativeshare-basedpaymentexpenserecognizedamountstoRMB823,138.71.Cash-settledshare-basedpayments

□Applicable√Notapplicable

/

3.Share-basedpaymentexpensesforthecurrentperiod

√Applicable□Notapplicable

Unit:RMB

Grantrecipientcategories	Equity-settledshare-basedpaymentexpenses	Cash-settledshare-basedpaymentexpenses
Managementpersonnel	15,660,936.03
Total	15,660,936.03

Otherinformation:

None.

4.ModificationandterminationofShare-basedpayments

□Applicable√Notapplicable

5.Otherinformation

□Applicable√NotapplicableXVICommitmentsandContingencies

1.Significantcommitments

√Applicable□NotapplicableSignificantexternalcommitmentsexistingasofthebalancesheetdate,nature,andamount:

Thesigned,ongoing,orupcomingleasecontracts(excludingleasesforwhichright-of-useassetshavebeenrecognized)andtheirfinancialimpactsaredetailedinNoteVII(82)2ofthesefinancialstatements.

2.Contingencies

(1).Significantcontingenciesexistingasofthebalancesheetdate

√Applicable□Notapplicable

1.PatentinfringementdisputewithOrangeElectronicsCo.,Ltd.("Orange")

OnJune30,2021,OrangefiledalawsuitagainstAutelintheUnitedStatesDistrictCourtfortheEasternDistrictofTexas,claimingthatAutel'sTPMSproductsinfringeclaims23and26-29ofU.S.PatentNo.8031064C3("ATirePressureMonitoringSystem(TPMS)andItsTirePressureDetectorIdentificationReplicationMethod,"hereinafterreferredtoas"PatentNo.064").Orangesoughtdamagesandinjunctiverelief.

/

OnJune8,2023,thejuryruledthatAutel'sproductsindeedinfringedclaims26and27ofPatentNo.064andawardedtotaldamagesofUSD6,616,397.Aftertheruling,Auteltookactionandfiledapost-trialmotiononJuly10,2023,underRule50(b).Thesemotionsaimedtoobtainalegaljudgmentassertingnoinfringement.Autel'sargumentsinthemotionincluded:a)AutelhasnotsoldtheaccusedproductsintheU.S.,sonodirectinfringementexistsunder35U.S.C.§271(a);b)Theaccusedproductsdonotfallwithinthescopeofclaims26and27ofPatentNo.064,andthecourtshouldrulenon-infringement;c)Claims26and27ofPatentNo.064shouldberuledinvalidunder35U.S.C.§101duetoineligibility;d)Claims26and27ofPatentNo.064shouldberuledinvalidunder35U.S.C.§103duetoobviousnessbasedonpriorart,specificallyNantzandNihei;e)TheplaintifffailedtoprovidesufficientevidenceforthejurytoconcludethatAutelintentionallyinfringedPatentNo.064;f)Thejury'sdamagesawardlacksevidenceandshouldbeoverturned.

OnMay2,2024,thedistrictcourtissueditsfirst-instancejudgment,rulingthatAuteldidnotinfringePatentNo.064.Autelwonthecase.TheplaintiffappealedthejudgmentonMay22,2024.Inresponse,AutelappealedonMay23,2024,regardingthecourt'srulingonthevalidityofPatentNo.064.

AsofDecember31,2024,thecaseisstillintheappealsprocess.Basedonprudenceandafterconsultingwiththecase'slegalcounsel,AutelhasaccruedanestimatedliabilityofUSD3million(equivalenttoRMB24,789,450.64),ofwhichRMB24,789,450.64wasaccruedin2023.

2.PatentDisputewithShenzhenYuanzhengTechnologyCo.,Ltd.("YuanzhengTechnology")

OnApril8,2022,YuanzhengTechnologyfiledalawsuitagainstAutelandShenzhenLianKeElectronTechnologyCo.,Ltd.("LianKeTechnology"),claimingthattheAutel'sandLianKeTechnology’sproducts,suchasthe"AUTELNext-GenerationAutomotiveIntelligentDiagnosticSystemMaxiSYSMS909"and"AUTELNext-GenerationAutomotiveIntelligentDiagnosticSystemMaxiSYSUltra,"whicharesoldextensivelyononlineplatformslikeJD.com,Taobao,andoffline,infringeclaims1-8ofPatentNo.ZL201710632113.7ownedbyYuanzhengTechnology.YuanzhengTechnologyrequeststhecourtto:a)OrderAuteltoimmediatelyceasemanufacturingtheinfringingproducts,destroythesemi-finishedproducts,anddestroythespecializedmoldsusedtomanufacturetheinfringingproducts;b)orderAutelandLianKeTechnologytoimmediatelycease

/

sellingorpromisingtoselltheinfringingproducts;c)orderAutelandLianKeTechnologytojointlybeartheeconomiclossofRMB20millionandreasonableexpensesofRMB230,000,totalingRMB20.23million;d)orderAutelandLianKeTechnologytobearthelitigationcosts.

Thefirst-instancecourtruledtodismissalloftheplaintiff'sclaimsandorderedtheplaintifftobeartheentirelitigationcosts.Afterthefirst-instancejudgment,theplaintiffappealed.Asofthedateofthisfinancialreport,thecaseisstillundersecond-instancereview.Autel’slawyerbelievesthatthereisahighprobabilitythattheoriginaljudgmentwillbeupheld.AsofDecember31,2024,Autelhasnotaccruedanyestimatedliabilitiesforthismatter.

3.WinningthepatentdisputewithYuanzhengTechnology

(1)OnApril8,2022,YuanzhengTechnologyfiledalawsuitagainstAutelandLianKeTechnology,claimingthattheAutel'sandLianKeTechnology’sproducts,suchasthe"AUTELNext-GenerationAutomotiveIntelligentDiagnosticSystemMaxisysMS909"and"AUTELNext-GenerationAutomotiveIntelligentDiagnosticSystemMaxiSysUItra,"whicharesoldextensivelyononlineplatformslikeJD.com,Taobao,andoffline,infringeclaims1-8ofPatentNo.ZL200910110148.XownedbyYuanzhengTechnology.OnFebruary26,2024,theSupremePeople'sCourtruledtodismissthelawsuit.

(2)OnApril8,2022,YuanzhengTechnologyfiledalawsuitagainstAutelandLianKeTechnology,claimingthattheAutel'sandLianKeTechnology’sproducts,suchasthe"AUTELNext-GenerationAutomotiveIntelligentDiagnosticSystemMaxisysMS909"and"AUTELNext-GenerationAutomotiveIntelligentDiagnosticSystemMaxiSysUItra,"whicharesoldextensivelyononlineplatformslikeJD.com,Taobao,andoffline,infringeclaims1-8ofPatentNo.ZL201611205112.6ownedbyYuanzhengTechnology.OnDecember24,2024,thesecondinstancejudgmentrejectedYuanzhengTechnology'sappealandupheldtheoriginaljudgment.ThesecondinstanceacceptancefeeofRMB82,259shallbebornebyYuanzhengTechnology.

(2).Autelhasnosignificantcontingenciesthatrequiredisclosureandsuchabsenceshouldalsobestated:

□Applicable√Notapplicable

/

3.Otherinformation

□Applicable√NotapplicableXVIIEventsaftertheBalanceSheetDate

1.Significantnon-adjustmentmatters

□Applicable√Notapplicable

2.Profitdistribution

√Applicable□Notapplicable

Unit:RMB

Profitordividendstobedistributed	222,759,608.50
Approvedanddeclaredprofitordividendstobedistributed	222,759,608.50

AccordingtotheCompany’s2024FinalDividendPlanreviewedandapprovedatthe18thMeetingoftheFourthBoardofDirectorsonMarch28,2025,theCompanyintendsto,basedonthetotalsharecapitalminusthesharesintheCompany’saccountofrepurchasedsharesattherecorddateforthe2024finaldividendpayout,payacashdividendofRMB5(taxinclusive)per10sharestoshareholdersandmakeabonusissueof4.9additionalsharesforevery10sharesheldbyshareholdersfromcapitalreservesinsteadofprofit.TheaboveplanissubjecttotheapprovaloftheCompany’sgeneralmeetingofshareholders.

3.Returnofsales

□Applicable√Notapplicable

4.Othereventsafterthebalancesheetdate

√Applicable□Notapplicable

OnMarch28,2025,theProposalontheTransferofEquityInterestsinJoint-stockCompany&Related-partyTransactionwasreviewedandapprovedatthe18

thMeetingoftheFourthBoardofDirectorsandthe12

thMeetingoftheFourthSupervisoryCommittee.Assuch,itwasapprovedtotransfer9%,1%and1%ofourequityinterestsinSkyFendTechnologytoDaoHeTongLiao,Ms.NongYingbinandMr.ShuXilin,respectively,totalinga11%stake.

/

XVIIIOtherSignificantEvents

1.Correctionofprioraccountingerrors

(1)Retrospectiverestatementmethod

□Applicable√Notapplicable

(2)Prospectiveapplicationmethod

□Applicable√Notapplicable

2.Significantdebtrestructuring

□Applicable√Notapplicable

3.Swapofassets

(1)Swapofnon-monetaryassets

□Applicable√Notapplicable

(2)Swapofotherassets

□Applicable√Notapplicable

4.Annuityplans

□Applicable√Notapplicable

5.Discontinuedoperations

□Applicable√Notapplicable

6.Segmentinformation

(1)Basisforthedeterminationofthereportingsegmentandaccountingpolicies

√Applicable□NotapplicableTheCompanydeterminesthereportingsegmentsbasedontheinternalorganizationalstructure,managementrequirements,internalreportingsystem,etc.,anddeterminesthereportingsegmentsbasedonthegeographicsegments,andappraisestheoperatingperformanceinChina,NorthAmerica,Europe,andotherregionsrespectively.

(2)Financialinformationofreportingsegments

√Applicable□Notapplicable

Unit:RMB’0,000

Item

China

NorthAmerica

Europe

Otherregions

Offsetamongsegments

Total

/

Item	China	NorthAmerica	Europe	Otherregions	Offsetamongsegments	Total
Revenuefromprincipaloperations	287,976.11	216,588.18	90,554.00	191,809.97	-398,430.81	388,497.45
Costofprincipaloperations	168,911.85	180,178.53	74,132.53	146,989.83	-397,042.17	173,170.57
Totalassets	950,611.02	427,059.96	84,849.57	277,942.36	-1,109,703.86	630,759.05
Totalliabilities	571,535.27	432,343.07	93,885.41	143,978.72	-953,259.86	288,482.61

(3)ReasonsshallbegiveniftheCompanyhasnoreportingsegmentsorisunabletodisclosethetotalassetsandliabilitiesofthereportingsegments.

□Applicable√Notapplicable

(4)Otherinformation

□Applicable√Notapplicable

7.Othersignificanttransactionsandmattersthatmayaffectdecision-makingofinvestors

□Applicable√Notapplicable

8.Otherinformation

□Applicable√NotapplicableXIXNotestoKeyItemsoftheFinancialStatementsoftheParentCompany

1.Accountsreceivable

(1)Breakdownbyaging

√Applicable□Notapplicable

Unit:RMB

Aging	Closinggrossamount	Openinggrossamount
Within1year
Ofwhich:Sub-itemswithin1year
Within1year	878,651,322.94	677,675,335.66
Subtotalwithin1year	878,651,322.94	677,675,335.66
1to2years	71,871,396.36	220,875,299.49
Over2years	81,429,311.72	25,144,991.67
Total	1,031,952,031.02	923,695,626.82

/

(2)Breakdownbymethodofestablishingbaddebtprovisions

√Applicable□Notapplicable

Unit:RMB

Type	Closingbalance					Openingbalance
	Grossamount		Baddebtprovision		Carryingamount	Grossamount		Baddebtprovision		Carryingamount
	Amount	Percentage(%)	Amount	Provisionpercentage(%)		Amount	Percentage(%)	Amount	Provisionpercentage(%)
Baddebtprovisionestablishedonanindividualbasis	1,549,115.74	0.15	1,549,115.74	100.00		1,526,772.12	0.17	1,526,772.12	100.00
Ofwhich:
Baddebtprovisionestablishedonagroupingbasis	1,030,402,915.28	99.85	22,151,528.88	2.15	1,008,251,386.40	922,168,854.70	99.83	26,751,665.62	2.90	895,417,189.08
Ofwhich:
Groupofrelatedpartiesincludedintheconsolidatedfinancialstatements	838,018,220.00	81.21			838,018,220.00	693,377,133.00	75.07			693,377,133.00
Aginggroup	192,384,695.28	18.64	22,151,528.88	11.51	170,233,166.40	228,791,721.70	24.77	26,751,665.62	11.69	202,040,056.08
Total	1,031,952,031.02	/	23,700,644.62	/	1,008,251,386.40	923,695,626.82	/	28,278,437.74	/	895,417,189.08

/

Significantbaddebtprovisionestablishedonanindividualbasis:

□Applicable√NotapplicableBaddebtprovisionestablishedonagroupingbasis:

√Applicable□NotapplicableItem:Aginggroup

Unit:RMB

Group	Closingbalance
	Accountsreceivable	Baddebtprovision	Provisionpercentage(%)
Groupofrelatedpartiesincludedintheconsolidatedfinancialstatements	838,018,220.00
Aginggroup	192,384,695.28	22,151,528.88	11.51
Total	1,030,402,915.28	22,151,528.88	2.15

Baddebtprovisionestablishedonagroupingbasis:

□Applicable√NotapplicableBaddebtprovisionestablishedusingthegeneralmodelofexpectedcreditloss:

□Applicable√NotapplicableBasisofclassificationofstagesandpercentageofbaddebtprovision:

None.Significantchangeinthegrossamountofanaccountreceivablewithchangeinlossprovisionduringtheperiod:

□Applicable√Notapplicable

(3)Baddebtprovision

√Applicable□Notapplicable

Unit:RMB

Type	Openingbalance	Changesfortheperiod				Closingbalance
		Established	Recoveredorreversed	Chargedofforwrittenoff	Otherchanges
Baddebtprovisionestablishedonanindividualbasis	1,526,772.12	22,343.62				1,549,115.74

/

Baddebtprovisionestablishedonagroupingbasis	26,751,665.62		4,600,136.74		22,151,528.88
Total	28,278,437.74	22,343.62	4,600,136.74		23,700,644.62

Baddebtprovisionwithasignificantrecoveredorreversedamountduringtheperiod:

□Applicable√NotapplicableOtherinformation:

None.

(4)Written-offaccountsreceivablefortheperiod

□Applicable√NotapplicableWrite-offofsignificantaccountsreceivable:

□Applicable√Notapplicable

(5)Topfiveentitieswithrespecttoaccountsreceivableandcontractassets

√Applicable□Notapplicable

Unit:RMB

Entity	Closingbalanceofaccountsreceivable	As%oftheclosingbalanceoftotalaccountsreceivableandcontractasstscombined	Closingbalanceofbaddebtprovision
AutelVietnam	410,461,723.23	39.78
AutelGermany	168,897,001.98	16.37
AutelDigitalPower	95,324,528.68	9.24
AutelHeda	79,170,187.15	7.67
CustomerA	71,584,556.82	6.94	3,613,429.42
Subtotal	825,437,997.87	80.00	3,613,429.42

Otherinformation:

None.Otherinformation:

□Applicable√Notapplicable

/

2.OtherreceivablesBreakdown:

√Applicable□Notapplicable

Unit:RMB

Item	Closingbalance	Openingbalance
Otherreceivables	1,155,928,917.31	1,125,412,948.04
Total	1,155,928,917.31	1,125,412,948.04

Otherinformation:

□Applicable√NotapplicableInterestreceivable

(1)Classificationofinterestreceivable

□Applicable√Notapplicable

(2)Significantoverdueinterest

□Applicable√Notapplicable

(3)Breakdownbymethodofestablishingbaddebtprovisions

□Applicable√NotapplicableBaddebtprovisionestablishedonanindividualbasis:

□Applicable√NotapplicableNotestobaddebtprovisionsestablishedonanindividualbasis:

□Applicable√NotapplicableBaddebtprovisionestablishedonagroupingbasis:

□Applicable√NotapplicableBaddebtprovisionestablishedusingthegeneralmodelofexpectedcreditloss:

□Applicable√NotapplicableBasisofclassificationofstagesandpercentageofbaddebtprovision:

None.Significantchangeinthegrossamountofinterestreceivablewithchangeinlossprovisionduringtheperiod:

/

□Applicable√Notapplicable

(4)Baddebtprovisions

□Applicable√NotapplicableBaddebtprovisionwithasignificantrecoveredorreversedamountduringtheperiod:

□Applicable√NotapplicableOtherinformation:

None.

(5)Written-offinterestreceivablefortheperiod

□Applicable√NotapplicableWrite-offofsignificantinterestreceivable:

□Applicable√NotapplicableNotestothewrite-off:

□Applicable√NotapplicableOtherinformation:

□Applicable√NotapplicableDividendsreceivable

(1)Dividendsreceivable

□Applicable√Notapplicable

(2)Significantdividendsreceivableagedoveroneyear

□Applicable√Notapplicable

(3)Breakdownbymethodofestablishingbaddebtprovisions

□Applicable√NotapplicableBaddebtprovisionestablishedonanindividualbasis:

□Applicable√NotapplicableNotestobaddebtprovisionsestablishedonanindividualbasis:

/

□Applicable√NotapplicableBaddebtprovisionestablishedonagroupingbasis:

□Applicable√NotapplicableBaddebtprovisionestablishedusingthegeneralmodelofexpectedcreditloss:

□Applicable√NotapplicableBasisofclassificationofstagesandpercentageofbaddebtprovision:

None.Significantchangeinthegrossamountofdividendsreceivablewithchangeinlossprovisionduringtheperiod:

□Applicable√Notapplicable

(4)Baddebtprovision

□Applicable√NotapplicableBaddebtprovisionwithasignificantrecoveredorreversedamountduringtheperiod:

□Applicable√NotapplicableOtherinformation:

None.

(5)Written-offdividendsreceivablefortheperiod

□Applicable√NotapplicableWrite-offofsignificantdividendsreceivable:

□Applicable√NotapplicableNotestothewrite-off:

□Applicable√NotapplicableOtherinformation:

□Applicable√Notapplicable

/

Otherreceivables

(1)Breakdownbyaging

√Applicable□Notapplicable

Unit:RMB

Aging	Closinggrossamount	Openinggrossamount
Within1year
Ofwhich:Sub-itemswithin1year
Within1year	226,736,529.28	447,231,375.21
Subtotalwithin1year	226,736,529.28	447,231,375.21
1to2years	328,573,070.55	540,331,692.83
Over2years	604,666,980.73	142,182,212.55
Total	1,159,976,580.56	1,129,745,280.59

(2)Breakdownbynature

√Applicable□Notapplicable

Unit:RMB

Nature	Closinggrossamount	Openinggrossamount
Exporttaxrebatesreceivable		16,301,963.62
Provisionalpaymentsreceivable	4,894,707.36	7,928,449.07
Securitydeposits	5,419,865.17	4,865,517.82
Pettycash	2,954,123.59	3,781,326.02
Employeehousingloan	1,140,000.00	1,140,000.00
Socialsecurityandhousingprovidentfundpaymentsonbehalfofemployees	1,533,664.44	1,022,045.35
Receivablesduetoequitytransfer	24,420,000.00
Otherreceivablesfromrelatedparties	1,119,614,220.00	1,094,705,978.71
Total	1,159,976,580.56	1,129,745,280.59

(3)Changesinbaddebtprovisions

√Applicable□Notapplicable

Unit:RMB

Baddebtprovision	Stage1	Stage2	Stage3	Total
	12-monthexpectedcreditloss	Lifetimeexpectedcreditloss(withoutcreditimpairment)	Lifetimeexpectedcreditloss(withcreditimpairment)
BalanceasatJanuary1,2024	122,020.07	1,277,735.22	2,932,577.26	4,332,332.55
BalanceasatJanuary1,2024wasduringtheperiod
-TransferredtoStage2	-11,201.77	11,201.77

/

-TransferredtoStage3		-482,191.34	482,191.34
-TransferredbacktoStage2
-TransferredbacktoStage1
Establishedduringtheperiod	-72,132.70	-694,727.94	482,191.34	-284,669.30
Reversedduringtheperiod
Chargedoffduringtheperiod
Writtenoffduringtheperiod
Otherchanges
BalanceasatDecember31,2024	38,685.60	112,017.71	3,896,959.94	4,047,663.25

Basisofclassificationofstagesandpercentageofbaddebtprovision:

None.Significantchangeinthegrossamountofotherreceivableswithchangeinlossprovisionduringtheperiod:

□Applicable√NotapplicableBasisforasignificantincreaseinabaddebtprovisionandthecreditriskofafinancialinstrumentduringtheperiod:

□Applicable√Notapplicable

(4)Breakdownofbaddebtprovisions

√Applicable□Notapplicable

Unit:RMB

Type	Openingbalance	Changesduringtheperiod				Closingbalance
		Established	Recoveredorreversed	Charged-offorwritten-off	Otherchanges
Baddebtprovisionestablishedonagroupingbasis	4,332,332.55	-284,669.30				4,047,663.25
Total	4,332,332.55	-284,669.30				4,047,663.25

Baddebtprovisionwithasignificantrecoveredorreversedamountduringtheperiod:

□Applicable√Notapplicable

/

Otherinformation:

None.

(5)Written-offotherreceivablesfortheperiod

□Applicable√NotapplicableWrite-offofsignificantotherreceivables:

□Applicable√NotapplicableNotestothewrite-off:

□Applicable√Notapplicable

(6)Topfiveentitieswithrespecttootherreceivables

√Applicable□Notapplicable

Unit:RMB

Entity	Closingbalance	As%oftheclosingbalanceoftotalotherreceivables	Natureofotherreceivable	Aging	Closingbalanceofbaddebtprovision
AutelDigitalPower	180,419,794.17	89.61	Otherreceivablesfromrelatedparties	Within1year
	318,916,870.49			1-2years
	540,131,783.15			Over2years
AutelVietnam	81,716.08	2.67	Otherreceivablesfromrelatedparties	Within1year
	2,469,592.98			1-2years
	28,472,153.90			Over2years
AutelHongKong	2,515,940.00	2.47	Otherreceivablesfromrelatedparties	Within1year
	26,175,821.38			Over2years
CompanyA	15,785,000.00	1.36	Otherreceivablesduetoequitytransfer	Within1year
AutelHeda	5,514,345.65	0.93	Otherreceivablesfromrelatedparties	Within1year
	5,276,023.37			1-2years
Total	1,125,759,041.17	97.05	/	/

/

(7)Otherreceivablesreportedduetocentralizedmanagementoffunds

□Applicable√NotapplicableOtherinformation:

□Applicable√Notapplicable

3.Long-termequityinvestments

√Applicable□Notapplicable

Unit:RMB

Item	Closingbalance		Openingbalance
	Grossamount	Carryingamount	Grossamount	Carryingamount
Investmentsinsubsidiaries	1,390,081,403.67	1,390,081,403.67	1,505,558,197.54	1,505,558,197.54
Total	1,390,081,403.67	1,390,081,403.67	1,505,558,197.54	1,505,558,197.54

(1)Investmentsinsubsidiaries

√Applicable□Notapplicable

Unit:RMB

Investee	Openingbalance(carryingamount)	Openingbalanceofimpairmentprovisions	Increase/decreasefortheperiod				Closingbalance(carryingamount)	Closingbalanceofimpairmentprovisions
			Additionalinvestment	Reductionininvestment	Impairmentprovisionsestablished	Other
AutelCalifornia	1,439,611.72		556,252.04				1,995,863.76
AutelGermany	853,740.00		355,508.11				1,209,248.11
AutelHunan	153,122,707.04		958,883.48				154,081,590.52
AutelDigitalPower	51,343,181.99		3,255,179.49				54,598,361.48
AutelXi’an	371,260,882.16		1,068,911.91				372,329,794.07
AutelHesheng	20,589,475.82		1,022,877.44				21,612,353.26
AutelHongKong	8,435,606.23						8,435,606.23
SkyFendTechnology	122,906,846.46			122,906,846.46
AutelHainan	24,000,000.00						24,000,000.00
RainbowTechnology	745,115,047.28						745,115,047.28
AutelMexico	322,625.00		27,270.87				349,895.87

/

AutelHeda	6,168,473.84		54,541.75			6,223,015.59
AutelUK			130,627.50			130,627.50
Total	1,505,558,197.54		7,430,052.59	122,906,846.46		1,390,081,403.67

(2)Investmentsinjointventuresandassociates

□Applicable√Notapplicable

(3)Impairmenttestsoflong-termequityinvestments

□Applicable√NotapplicableOtherinformation:

TheCompanydisposedof54.00%equityinterestsinSkyFendTechnologyduringtheperiod,andthusheld46.00%equityinterestsinSkyFendTechnologyattheendoftheperiod,forwhichitadjustedtheopeningbalanceretroactivelyusingtheequitymethod.AsSkyFendTechnologyhasrecordedcontinuedlossesanditsequitywasnegative,thecarryingamountoftheCompany’slong-termequityinvestmentcalculatedusingtheequitymethodwasnil.

4.Operatingrevenueandcostofsales

(1)Detailsofoperatingrevenueandcostofsales

√Applicable□Notapplicable

Unit:RMB

Item	2024		2023
	Revenue	Costs	Revenue	Costs
Principaloperations	1,669,085,189.82	1,285,942,206.58	892,865,112.64	761,468,012.34
Otheroperations	546,799,677.10	328,247,391.99	553,432,058.11	502,366,152.22
Total	2,215,884,866.92	1,614,189,598.57	1,446,297,170.75	1,263,834,164.56
Ofwhich:Revenuegeneratedbycontractswithcustomers	2,150,699,612.25	1,614,189,598.57	1,416,868,714.62	1,245,076,916.46

(2)Breakdownofoperatingrevenueandcostofsales

√Applicable□Notapplicable

Unit:RMB

Categoryofcontract	Total
	Operatingrevenue
Byproductcategory

/

Automotivediagnosticproducts	1,141,183,830.33
TPMSproducts	190,832,922.58
ADASproducts	70,364,862.98
Otherproducts	178,388,376.94
Cloud-basedsoftwareservices	88,315,197.00
Materialsales	481,614,422.43
Subtotal	2,150,699,612.25
Byoperatingsegment
China	173,938,434.00
NorthAmerica	130,300,988.36
Europe	142,302,542.44
Otherregions	1,704,157,647.45
Subtotal	2,150,699,612.25
Bythetimeofproducttransfer
Revenuerecognizedatapointintime	2,062,384,415.25
Revenuerecognizedwithinaperiodoftime	88,315,197.00
Subtotal	2,150,699,612.25
Total	2,150,699,612.25

Otherinformation:

√Applicable□Notapplicable

TherevenuerecognizedintheperiodandincludedintheopeningcarryingamountofthecontractliabilitiesisRMB39,799,951.87.

(3)Contractperformanceobligations

□Applicable√Notapplicable

(4)Allocationtotheremainingcontractperformanceobligations

□Applicable√Notapplicable

(5)Significantchangesincontractsorsignificantadjustmentstotransactionprices

□Applicable√NotapplicableOtherinformation:

None.

5.Returnoninvestment

√Applicable□Notapplicable

Unit:RMB

Item	2024	2023
Returnonlong-termequity		280,000,000.00

/

investmentsunderthecostmethod
Incomederivedduringtheperiodofholdingequityinstrumentsatfairvaluethroughprofitorloss	1,257,286.60	2,606,087.22
Incomefromthedisposalofheld-for-tradingfinancialassets	13,424.66	-5,191,729.83
Incomefromthedisposaloflong-termequityinvestments	-44,697.11
Total	1,226,014.15	277,414,357.39

Otherinformation:

None.

6.Otherinformation

□Applicable√NotapplicableXXSupplementaryInformation

1.Scheduleofexceptionalgainsandlossesintheperiod

√Applicable□Notapplicable

Unit:RMB

Item	Amount	Note
Gainorlossondisposalofnon-currentassets(inclusiveofimpairmentallowancewrite-offs)	95,308,517.51
Governmentgrantsrecognizedinprofitorloss(exclusiveofthosethatarecloselyrelatedtotheCompany'snormalbusinessoperationsandgiveninaccordancewithdefinedcriteriaandincompliancewithgovernmentpolicies,andhaveacontinuingimpactontheCompany'sprofitorloss)	7,234,424.64
Gainorlossonfair-valuechangesinfinancialassetsandliabilitiesheldbyanon-financialenterprise,aswellasondisposaloffinancialassetsandliabilities(exclusiveoftheeffectiveportionofhedgesthatisrelatedtotheCompany'snormalbusinessoperations)	-6,819,610.47
Capitaloccupationchargesonanon-financialenterprisethatarerecognizedinprofitorloss
Gainorlossonassetsentrustedtootherentitiesforinvestmentormanagement	26,849.32
Gainorlossonloanentrustments
AssetlossesduetoactsofGodsuchasnaturaldisasters
Reversedportionsofimpairmentallowancesforreceivableswhicharetestedindividuallyforimpairment	2,323,447.42
GainequaltotheamountbywhichinvestmentcostsfortheCompanytoobtainsubsidiaries,associatesandjointventuresarelowerthantheCompany’senjoyablefairvalueofidentifiablenetassetsofinvesteeswhenmaking

/

investments
Currentprofitorlossonsubsidiariesobtainedinbusinesscombinationsinvolvingentitiesundercommoncontrolfromtheperiod-begintocombinationdates,net
Gainorlossonnon-monetaryassetswaps
Gainorlossondebtrestructuring
One-offcostsincurredbytheCompanyasaresultofdiscontinuedoperations,suchasexpensesforemployeearrangements
One-timeeffectonprofitorlossduetoadjustmentsintax,accountingandotherlawsandregulations
One-timeshare-basedpaymentsrecognizedduetocancellationandmodificationofequityincentiveplans
Gainorlossonchangesinthefairvalueofemployeebenefitspayableafterthevestingdateforcash-settledshare-basedpayments
Gainorlossonfair-valuechangesininvestmentpropertiesofwhichsubsequentmeasurementiscarriedoutusingthefairvaluemethod
Incomefromtransactionswithdistinctlyunfairprices
GainorlossoncontingenciesthatareunrelatedtotheCompany'snormalbusinessoperations
Incomefromchargesonentrustedmanagement
Non-operatingincomeandexpenseotherthantheabove	1,457,177.97
Othergainsandlossesthatmeetthedefinitionofexceptionalgain/loss
Less:Incometaxeffects	-726,634.92
Non-controllinginterestseffects(netoftax)	106,648.54
Total	100,150,792.77

ItemsunlistedintheExplanatoryAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic—ExceptionalGain/LossItemsareidentifiedasexceptionalandtheitemsareofasignificantamount,andexceptionalgain/lossitemslistedintheExplanatoryAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic—ExceptionalGain/LossItemsareidentifiedasrecurrent.

√Applicable□Notapplicable

Unit:RMB

Item	Amountinvolved	Reason
Valueaddedtaxrebatesforsoftwareproducts	63,481,241.54	ArisinginsubsidiaryAutelHesheng’sordinarycourseofbusinessandthusrecognizedasarecurringgain/loss

Otherinformation:

□Applicable√Notapplicable

/

2.Returnonequity(ROE)andearningspershare(EPS)

√Applicable□Notapplicable

ProfitduringtheReportingPeriod	WeightedaverageROE(%)	EPS
		BasicEPS	DilutedEPS
NetprofitattributabletoordinaryshareholdersoftheCompany	19.47	1.45	1.42
NetprofitattributabletoordinaryshareholdersoftheCompanybeforeexceptionalgainsandlosses	16.42	1.22	1.21

3.Accountingdatadifferencesunderdomesticandoverseasaccountingstandards

□Applicable√Notapplicable

4.Otherinformation

□Applicable√Notapplicable

ChairmanoftheBoard:LiHongjingDatewhenthisReportwasauthorizedbytheBoardofDirectorsforissue:March28,2025Revisions:

□Applicable√Notapplicable