EZGO Completes Delivery of State-of-the-Art Security Patrol Robots with Transaction Value of RMB11 Million

CHANGZHOU, China, Oct. 5, 2023 /PRNewswire/ -- EZGO Technologies Ltd. (NASDAQ:EZGO) ("EZGO" or the "Company"), a leading short-distance transportation solutions provider in China, today announced the delivery of 10 state-of-the-art security patrol robots (the "Robots") to PIESAT Information Technology Co., Ltd. (SHA: 688066)("PIESAT"), a China-based company mainly engaged in the provision of remote sensing and Beidou navigation satellite application services, pursuant to a procurement agreement, dated as of January 15, 2023, by and between the Company and PIESAT (the "Procurement Agreement").  Under the Procurement Agreement, PIESAT agreed to purchase 10 Robots for RMB11 million (approximately US $1.5 million). 

The Company believes that this transaction demonstrates its strong R&D and manufacturing capabilities. The Robots feature several state-of-the-art functions, including self-navigation, live video streaming, proficient face and license plate detection, vocal notifications, an emergency SOS button, self-charging capabilities, infrared vision, and are fully compatible with smart patrol systems. This suite of features reinforces the Company's efforts to advancements in short-distance transport solutions.

Mr. Jianhui Ye, Chairman and Chief Executive Officer of the Company, commented, "This successful delivery once again showcases our steadfast dedication to innovation and our prowess in timely contractual deliveries. It further solidifies our position and drives us to remain at the forefront of smart transportation solutions. The engagement with PIESAT also indicates the successful execution of our marketing strategy of appealing to and growing sales to a more diversified group. 

We look forward to securing more contracts in the future, delivering exceptional value to our clients, and, as a result, creating substantial value for our shareholders."

About EZGO Technologies Ltd.

Leveraging an Internet of Things (IoT) product and service platform and two e-bicycle brands, "EZGO" and "Cenbird," EZGO has established a business model centered on the manufacturing and sale of two-and three-wheeled electric vehicles, lithium batteries, complemented by the e-bicycle charging pile business. For additional information, please visit EZGO's website at www.ezgotech.com.cn. Investors can visit the "Investor Relations" section of EZGO's website at www.ezgotech.com.cn/Investor.

Safe Harbor Statement

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate," or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development; product and service demand and acceptance; changes in technology; economic conditions; the growth of the short-distance transportation solutions market in China and the other international markets the Company plans to serve; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and the international markets the Company plans to serve and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission (the "SEC"), including the Company's most recently filed Annual Report on Form 20-F and its subsequent filings. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

Investor Relations Contact

Ascent Investor Relations LLC

Tina Xiao

Presiden

Phone: +1 646-932-7242

Email: [email protected]

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SOURCE EZGO Technologies Ltd.