32 Years of Pursuing Excellence, Building Dreams for the Future——New Year's Address by the General Manager

Dear Colleagues, Partners, and Friends Who Follow FAMBITION's Journey,

Warm greetings to you all!

As we turn the page to a new year and welcome the first light of 2026 across our factory, we once again find ourselves standing together at a new milestone in FAMBITION's development.  It is a moment to look back with pride on the road we have traveled, and to look forward with confidence and passion to what lies ahead.  Thank you to every companion along the way, we joined hands to lay a solid foundation and made steady progress in 2025. In the year to come, may we continue this journey together in 2026, push boundaries, and achieve even greater success!

The year 2025 marked a pivotal turning point in FAMBITION’s strategic transformation and upgrading.  It was also a year defined by unity of purpose and tangible achievements.  In the face of the global economic volatility and geopolitical tensions, our entire team stood together, and strived diligently, and delivered a series of breakthroughs in key projects.

From an operational perspective, we advanced with discipline and consistency, achieving sustained improvement in profitability.  As the global mining industry enters a new cycle of profound transformation, we seized opportunities and fully achieved all key operational targets. This not only strengthened our earnings base, but also built solid financial capacity for future strategic investments, demonstrating FAMBITION’s resilience in times of uncertainty.

On the R&D front, we remined focused and rigorous, made meticulous efforts and continuously reinforcing our technological advantages.  Adhering to the core strategy of "Technology-Driven, Efficiency-Led, Globally Oriented, and Value Creating," we completed the comprehensive upgrade and iteration of our main product models, and advanced key technologies such as autonomous driving systems, intelligent management platforms, and green energy solutions in parallel, ensuring FAMBITION's technological competitiveness remains at the forefront of the industry.

In terms of business development, we accelerated our global expansion and further strengthened brand recognition worldwide. While deepening our presence in established markets and reinforcing collaboration with valued partners, we also pushed rapidly into emerging markets, establishing localized market footprints across multiple regions.  The share of overseas revenue has continued to rise, consolidating our advantages in existing markets and steadily elevating recognition of our brand across our global target regions, laying a broader and more solid foundation for our globalization strategy.

In production capacity, we accelerated and improved delivery guarantees. With the landing of the office complex in the new industrial park, the factory's infrastructure and logistics support system were simultaneously put in place. We fully upgraded the lean production model on the production site, strictly implemented the "Zero Defect & Zero Delay" quality control strategy, and strived to achieve high-quality production capacity targets, laying a solid foundation for large-scale and high-standard deliveries.

At the supply chain level, we deepened collaboration with our partners under the principles of integrity, mutual trust, and win-win cooperation, building a true community of shared destiny.  We promoted the deep integration of the industrial chain, value chain, and interest chain, and established a coordinated system spanning strategy, operations, and resources. Through initiatives such as supplier support programs and supplier performance audits, we addressed key pain points in cooperation, helped enhance supplier capabilities, and strengthened the resilience and risk-resistance of our partnerships.

In organizational management, we implemented refined control and energized the organization from within. We streamlined the organizational structure, addressed management gaps, clarified responsibilities across key positions, recruited outstanding core management talents, and improved training systems at all levels. These initiatives have significantly enhanced decision-making efficiency and collaboration capabilities across all levels, supporting the new phase of strategic development.

None if these achievements came by chance.  They are the inevitable result of all FAMBITION team’s relentless pursuit of excellence. Here, I would like to extend my deepest respect and heartfelt thanks to every courageous and responsible striver! It is our team’s perseverance and dedication that have enabled FAMBITION to grow through challenges.  It is the team’s hard work and commitment that continue to elevate us in an increasingly competitive landscape. Our team and our people are FAMBITION's most valuable asset!

As the poem goes, "The roc spreads its wings to soar ninety thousand miles; may the wind never cease, carrying the boat to the three fairy mountains." As we step into 2026, we draw strength from the journey behind us and move forward with clarity of purpose. With broad vision, focused execution, and steadfast determination, we will press on without retreat until every strategic objective is fulfilled.

2026 marks the first year of China's 15th Five-Year Plan, a year of accelerated transformation and structural growth in the global mining industry, a critical inflection point in a new industrial cycle, and more importantly, for FAMBITION, it will be a breakthrough year as we step into a new phase of strategic development, with our corporate strategy moving into full-scale implementation.  While we are presented with unprecedented opportunities driven by decarbonization transformation and intelligent upgrading, we also shoulder the important responsibility of promoting the localization and globalization of equipment manufacturing.

In the year ahead, we must translate our strategic blueprint into concrete actions. We will accelerate the rollout of our next-generation product R&D system, deepen cross-functional collaboration, and drive steady growth in market share across our core businesses. From R&D roadmaps to production targets, from sales objectives to service standards, every initiative must be executed with urgency and accountability, moving first and moving fast to seize the opportunities.

In the new year, we will make quality improvement and efficiency enhancement a norm. On the R&D front, we will focus on tackling core technologies of intelligent equipment, accelerate the iterative optimization of main models and expand development of customized solution, break through technological barriers for independent control of key components, and strengthening early-stage collaboration with manufacturing. The supply chain will further strengthen technical integration with our partners and build a healthy and resilient ecosystem.  On the production front, we will concentrate on process reengineering, leveraging technological innovation to reduce costs, enhance quality, and secure on-time delivery.  On the sales front, we will accelerate our global footprint, deepen penetration in existing markets, and unlock new growth opportunities.  In the aftermarket, we will upgrade our TCO system with customer needs at its core.  Across all enabling functions, we will reinforce collaborative support so that the culture of company-wide participation and end-to-end management takes root and delivers tangible results.

In this new year, we celebrate our strivers and provide a stage for our achievers. We believe that the firmest foundation of our company is the dedication and integrity of every colleague. In 2026, we will continue to enhance our incentive programs to ensure that individual rewards grow in harmony with the company’s success.  We will further strengthen our talent development system and build a fair, merit-based platform for growth, so that every effort is recognized and every achievement has a stage.  May everyone continue to shine in their positions with a bright future, a passionate heart, and a clear path ahead, and work together to build synergy, personal growth and corporate development can resonate and move forward in tandem.

For over three decades, through thick and thin, FAMBITION has always believed that the value of an enterprise lies not only in its scale, profits, and shareholder returns but also in its long-term contributions to customers, employees, the industry, and society.

To our customers, we remain steadfast in our customer-centric philosophy.  Whether it is ensuring product reliability under extreme working conditions or providing rapid response in full-life-cycle services, we take exceeding customer expectations as our highest standard. To our employees, we will safeguard everyone's physical and mental health, continue to refine the training and career development system, and ensure that every striver can share the fruits of the company's growth. To our shareholders, we will uphold the core principle of honest operation, continuously optimize resource allocation, and repay trust with steady and sustainable performance. To the industry, we will actively promote the construction of green mines and smart mines, share technological achievements and management experience, and help the industry break through core bottlenecks. To society, we will continue to participate in public welfare undertakings and interpret the responsibility of corporate citizenship through practical actions.

Dreams may be distant, but they are attainable through pursuit; the road may be arduous, but it can be conquered through perseverance. Looking back, we have grown from a "young trailblazer" to a backbone of the industry.  As we look ahead to 2026, the blueprint for our next chapter is already in place. To reach our goals, we must move with unwavering resolve. In a year where opportunities and challenges are intertwined, we will break through barriers with a spirit of bold ambition, execute our strategies with grounded precision, and drive forward with unstoppable momentum.

Dear Colleagues and Partners, every step of FAMBITION's growth is inseparable from your companionship, every achievement of FAMBITION embodies your trust and support. In the new Year of the Horse, let us continue to carry the enthusiasm of "raising the whip and setting off again," uphold the pursuit of becoming an industry benchmark, and jointly write a more brilliant chapter for FAMBITION, making greater contributions to the green and intelligent development of the mining equipment industry!

Happy New Year to all！Wishing you a year ahead filled with vitality and soaring success!

Susan

FAMBITION