EZGO Technologies Ltd.

EZGO is a holding company incorporated in the British Virgin Islands that operates through its subsidiaries in China. Historically, the company used a Variable Interest Entity (VIE) structure, but this was terminated on September 25, 2025, following Board approval in March 2025 to dispose of the VIE and its subsidiaries due to declining e-bicycle sales. As of the date of this annual report, EZGO conducts its business solely through Changzhou EZGO and other wholly-owned non-VIE subsidiaries in China. EZGO's business model is centered on electric vehicle accessories, including battery cells and packs and electronic control systems, and on certain smart hardware applications, leveraging its Internet of Things (IoT) product and service platform. Following the disposal of the e-bicycle sales business in 2025, EZGO's operations now include: (i) designing, manufacturing, and selling battery packs; (ii) designing, manufacturing, and selling intelligent robots and electronic control systems; (iii) sales of second-hand machinery; and (iv) provision of maintenance services. The e-bicycles previously sold under the VIE were models compliant with the PRC Safety Technical Specification for Electric Bicycles (GB 17761-2018), also known as the "New National Standards for Electric Bicycles." Neither EZGO, Changzhou EZGO, the former VIE, its subsidiaries, nor other non-VIE subsidiaries in China produce two-wheel electric vehicle models that do not comply with these new standards.