New Gonow RV's First "Report Card" After Listing | Founder Miao Xuezhong's 2025 Annual Report Address

MESSAGE FROM MR. MIAO XUEZHONG, CHIEF EXECUTIVE OFFICER AND CHAIRMAN OF THE BOARD

Dear shareholders, partners and friends from all walks of life,

On January 13, 2025, New Gonow Recreational Vehicles was listed on the Hong Kong Stock Exchange. One year on, every step we have taken remains solid and passionate.

Listing is not the finish line — it is the starting signal for a new and higher journey.

In respect of technology, we have built core barriers: Over the past year, we launched the Jizhixing (吉智行) system, which was the first to upgrade the energy storage capacity of RV from 48V to the automotive-grade 400V voltage platform, increasing the charging efficiency by nearly 8 times. This represents a significant breakthrough in power-usage technology in the RV industry. At the same time, we were the first in the industry to popularize the application of AI technology, especially significantly improving response efficiency and user stickiness in the after-sales end. Intelligence and new energy are becoming the deepest moat of New Gonow.

In respect of the market, we have achieved expansion: In a base camp of Australia and New Zealand, we have continuously increased our market share by leveraging our brand reputation and product quality, and our user word-of-mouth has been constantly accumulating. Meanwhile, the European and North American markets are steadily expanding, and the brand territory of New Gonow is extending globally.

In respect of the product, we have completed strategic evolution: Based on the deep trust and real needs of the Australia and New Zealand market, we have officially established a motorized RVs department, transitioning from a “towable expert” to a “full range of smart RV solution providers”. The new motorized RVs product is about to be launched, carrying our new imagination of mobile life and opening broader income opportunities.

Looking back on this year, I am grateful for the trust and entrustment of every shareholder. You are the most solid support for New Gonow ‘s voyage.

RVs are mobile homes, and our business is to create a space of happiness for families around the world to travel freely. The first anniversary of listing is not only a milestone, but also the starting point of a new journey. Technology-driven, global layout, product evolution — the road ahead is vast, and we are fully prepared.

Let’s continue to work together and write the story of New Gonow further out, toward an ever-wider horizon.

MIAO Xuezhong

Chief Executive Officer and Chairman of the Board

New Gonow Recreational Vehicles Inc.

April 2026