CATL is aware of the report from the Select Committee on the Strategic Competition between the United States and the Chinese Communist Party, issued on May 21, 2026, titled "Bankrolling Beijing: U.S. Banks Raised Billions for a Chinese Military Company". The report was addressed to two banks, JPMorgan and Bank of America. 

We took the specific allegations seriously and carried out a detailed review. After careful examination, we arrived at the conclusion that these allegations are not true or reflect misunderstandings.

As previously stated, CATL has never engaged in any military-related business or activities, nor has it used forced labor or has any connection thereto. CATL follows the highest business and ethical standards and adheres to the laws and regulations in all regions where CATL operates.

For more than a decade, our battery solutions have helped millions of American families and small businesses manage power outages caused by severe weather and grid instability. As a global leader of new energy technology, CATL intends to continue our efforts to deliver affordable, reliable energy for American workers and families.

Regarding the Report's suggestion that CATL did not respond to being included in the 1260H List amounts to a default admission, CATL has already filed an administrative reconsideration request with the U.S. government and will continue to pursue the removal from the list actively. 

CATL is committed to advancing a sustainable, green energy future through transparent collaboration with partners worldwide. We have established rigorous internal control system of procurement and partnership to protect our products and the trust placed in us.