New Energy Forklift Upgrade

With the support of the company's strategic deployment and strong leadership, the Ningbo PP Phase I (Warehouse/Packaging) facility completed a comprehensive replacement of liquefied petroleum gas (LPG) forklifts by procuring 27 new energy electric forklifts in two batches from January 2024 to March 2025. This upgrade effectively addresses long-standing pain points associated with the aging traditional LPG forklifts purchased in 2016, which were plagued by high failure rates, significant safety risks, and costly maintenance. Furthermore, it aligns precisely with the company's core objectives of green development and efficient operations. By 2025, the project has already delivered remarkable results, solidifying its role as a vital component of the company's transformative growth.

The operational data for the 2025 electric forklift project is impressive, with particularly outstanding green benefits: the switch eliminated the annual use of approximately 5,000 LPG cylinders. Based on a unit price of 290 RMB per cylinder, combined with the 40KW battery capacity of the electric forklifts, an average annual electricity rate of 0.63 RMB/kWh, and an energy consumption level where one full charge is equivalent to 1.2 LPG cylinders, the project achieved annual energy cost savings of about 1.34 million RMB.

Maintenance cost optimization has also been highly effective. Leveraging the advantages of simplified structure and easier maintenance of the new energy forklifts, maintenance expenses in 2025 decreased sharply—dropping by nearly 71% compared to 2023 and reducing maintenance costs by approximately 700,000 RMB. Total annual savings in energy and maintenance costs exceeded 2 million RMB, demonstrating a highly efficient return on investment.