Zhejiang Province Construction Investment Group Co., Ltd. Progress Announcement Regarding the Provision of Guarantees

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Zhejiang Provincial Construction Investment Group Co., Ltd.

Progress Announcement on Providing Guarantees

Our company and all members of the Board of Directors guarantee that the information disclosed is true, accurate, and complete, with no false records, misleading statements, or major omissions.

Key Information Highlights:

● Guarantors: Zhejiang Construction Commercial Trade Logistics Co., Ltd. and 5 other subsidiaries, with no related-party guarantees

● Guarantee amount for this period: 912 million yuan signed in new external guarantee contracts in February 2026

● Total guarantee balance: As of February 28, 2026, the company’s total external guarantee balance is 12.711 billion yuan

● Number of overdue external guarantees: None

● Special risk reminder: The total external guarantees of the company and its controlling subsidiaries exceed 100% of the latest audited net assets attributable to shareholders. In this month, guarantees provided to subsidiaries with an asset-liability ratio over 70% amount to 872 million yuan. Investors are advised to pay attention to related risks.

1. Guarantee Overview

(1) Progress of Guarantees

In February 2026, to meet the normal operating capital needs of subsidiaries applying for bank financing, Zhejiang Provincial Construction Investment Group Co., Ltd. (hereinafter referred to as “the Company”) provided guarantees of 872 million yuan for four subsidiaries with an asset-liability ratio above 70%, and 40 million yuan for one subsidiary with an asset-liability ratio below 70%. Details are as follows:

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(2) Internal Decision-Making Process for This Guarantee

The above guarantees were approved at the 48th meeting of the fourth session of the Board of Directors held on April 25, 2025, and at the 2024 annual shareholders’ meeting held on May 19, 2025. For details, see the company’s designated information disclosure media “Securities Times,” “China Securities Journal,” “Shanghai Securities Journal,” “Securities Daily,” and Juchao Information Network (

2. Basic Information of the Guarantors

The guarantors involved in this guarantee are not dishonest persons subject to enforcement. Their basic information and key financial indicators for the past year are detailed in the attached table.

3. Main Contents of the Guarantee Agreement

(1) Guarantee method: Joint liability guarantee;

(2) Guarantee period: 11 months to 101 months;

(3) Guarantee amount: 912 million yuan.

4. Opinions of the Board of Directors on the Necessity and Rationality of the Guarantee

This guarantee is conducted within the scope of the resolutions authorized by the Board of Directors and the Shareholders’ Meeting. The guarantors are controlling subsidiaries with stable operations and good credit standing. The purpose of the guarantee is to meet the subsidiaries’ normal operating capital needs. The guarantee risks are within controllable limits, and there are no circumstances that harm the interests of the company or minority shareholders. The guarantee is necessary and reasonable.

5. Total External Guarantees and Overdue Guarantees

As of February 28, 2026, the company’s and its controlling subsidiaries’ external guarantee balance is 12.711 billion yuan, of which guarantees provided to wholly-owned and controlling subsidiaries amount to 10.102 billion yuan. The company has not provided guarantees to controlling shareholders, actual controllers, or their related parties. There are no overdue guarantees.

This announcement is hereby made.

Zhejiang Provincial Construction Investment Group Co., Ltd.

Board of Directors

March 23, 2026

Attachment:

Basic Information of the Guarantors

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