On January 2nd, the Federal NetworkAdministration of the German energy regulatory agency announced that in 2023, renewableenergy sources such as wind, hydro, solar, and biomass accounted for more thanhalf of Germany's electricity generation.

Deutsche Presse-Agentur quoted data fromthe Federal Network Administration and reported that in Germany, renewableenergy power generation will account for 56% in 2023. By comparison, thisproportion was 47.4% in 2022.

Specifically, Germany's hydroelectric powergeneration in 2023 increased by 16.5% compared to 2022, mainly due to higherrainfall in 2023 and drought in many areas; The onshore wind power generationincreased by 18% year-on-year, thanks to the installation of more wind powerfacilities; The year-on-year decrease in offshore wind power generation is dueto many offshore wind power facilities and transmission lines undergoingmaintenance and repair; The solar power generation is roughly the same as in2022, due to the relatively insufficient sunshine in 2023 despite the increasein installed capacity; The electricity generation from biomass and otherrenewable energy sources has decreased.

Germany's coal and nuclear power generationsignificantly decreased in 2023, and its last three nuclear power plants wereshut down in April of the same year. Germany plans to source 80% of itselectricity from renewable sources by 2030.

Since the establishment in 2009, Multifithas exported high-quality products to multiple countries around the world,including Germany. Multifit has always regarded Germany as an important marketfor our strategic planning. The renewable energy industry in Germany hasrapidly expanded and developed in recent years, with an increasing installedcapacity and enormous potential. Faced with the rapidly growing German market, Multifitwill continue to expand its presence in the German market and occupy a largermarket share.