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EZGO Pops on New Procurement Deal

EZGO Technologies Ltd. (NASDAQ: EZGO) shares nearly doubled as the leading short-distance transportation solutions provider in China, today announced that it entered into a procurement agreement with Hangzhou Huiyu Zhichuang Industrial Co., Ltd., a subsidiary of Huiyu Holdings Group, which is a China-based company primarily engaged in real estate development business and ranked one of the top 500 civilian-run enterprises in China, for the sale of twelve security patrol robots and one intelligent patrol platform for an aggregate sales price of RMB 13.46 million (approximately US$1.84 million). The entry of the Procurement

Agreement demonstrates market recognition of the Company's strong R&D and manufacturing capabilities.

Pursuant to the Procurement Agreement, the Company agrees to complete the delivery and installation of the Products within 9 months after the execution of the Procurement Agreement. The Robots stand out with a myriad of modern features, including self-navigation, live video streaming, proficient face and license plate detection, vocal notifications, an emergency SOS button, self-charging capabilities, infrared vision, and full compatibility with smart patrol systems. This suite of features reinforces EZGO's efforts to advancements in short-distance transport solutions.

CEO Jianhui Ye commented, "This sale once again showcases the appeal of our products and our ability to continuously acquire new customers. In September 2023, we successfully delivered 10 Robots to PIESAT Information Technology Co., Ltd. Keeping the good momentum, the transaction with Huiyu Zhichuang is expected to help us expand businesses with Huiyu Group and achieve sustained orders and sales in other industrial parks under its management.”

EZGO shares began Friday up $1.27, or 80.1%, to $2.86.