Tranche Update on SBT Ultrasonic Technology Co.,Ltd.'s Equity Buyback Plan announced on February 6, 2024.

SBT Ultrasonic Technology Co Ltd is a China-based company mainly engaged in the provision of ultrasonic equipment and automation solutions. The Company is mainly engaged in the research, development, design, production and sales of ultrasonic welding, cutting equipment and accessories, and the provision of automation solutions in the field of new energy power battery manufacturing. The Company's products mainly include power battery ultrasonic welding equipment, automotive tire ultrasonic cutting equipment, ultrasonic welding equipment in other fields, power battery manufacturing automation systems, testing and other equipment, accessories, among others. The Company's products are mainly used in new energy power batteries, rubber tires, non-woven fabrics, automotive wiring harnesses, power semiconductors and other fields.