Zhejiang Wenying Film Group Co., Ltd. Notice of the First Extraordinary Shareholders' Meeting in 2026

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Stock code: 601599 Stock abbreviation: Zhejiang Wenying Announcement No.: 2026-006

Zhejiang Wenying Group Co., Ltd.

Notice of the convening of the first extraordinary general meeting of shareholders in 2026

The board of directors of the Company and all directors guarantee that there are no false records, misleading statements, or material omissions in the contents of this announcement, and assume legal responsibility for the truthfulness, accuracy, and completeness of the contents.

Key information:

● Date of the shareholders’ meeting: April 9, 2026

● The online voting system to be used for this shareholders’ meeting: Shanghai Stock Exchange shareholders’ meeting online voting system

I. Basic information of the meeting

(I) Type of shareholders’ meeting and session number

The first extraordinary general meeting of shareholders in 2026

(II) Convener of the shareholders’ meeting: the board of directors

(III) Voting method: The voting method adopted for this shareholders’ meeting is a combination of on-site voting and online voting

(IV) Date, time, and location of the on-site meeting

Date and time: April 9, 2026 at 14:30

Venue: Company meeting room (Hangzhou)

(V) Online voting system, start and end dates, and voting times.

Online voting system: Shanghai Stock Exchange shareholders’ meeting online voting system

Start and end dates for online voting: from April 9, 2026

to April 9, 2026

Online voting shall be conducted through the Shanghai Stock Exchange online voting system. The voting time through the trading system voting platform is the trading time segment on the day the shareholders’ meeting is held, namely 9:15–9:25, 9:30–11:30, 13:00–15:00; and the voting time through the internet voting platform is 9:15–15:00 on the day of the shareholders’ meeting.

(VI) Voting procedures for margin financing and securities lending (including “financing and securities lending”), refinancing and securities lending (“transfer-financing”), repurchase agreements (“agreed repurchase”), and Shanghai-Hong Kong Stock Connect investors

Where voting is involved for accounts related to margin financing and securities lending, refinancing and securities lending, repurchase agreements, and Shanghai-Hong Kong Stock Connect investors, such voting shall be conducted in accordance with the relevant provisions, including the 《Shanghai Stock Exchange Self-Regulatory Guidance No. 1—Standardized Operation》 and other applicable rules.

(VII) Matters involving soliciting shareholders’ voting rights publicly

None

II. Matters to be considered at the meeting

The proposals to be considered at this shareholders’ meeting and the types of shareholders eligible to vote

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1. The time when each proposal has been disclosed and the disclosure media

The above proposals have been examined and approved at the 18th meeting of the seventh session of the board of directors and were disclosed on March 25, 2026 on the website of the Shanghai Stock Exchange (www.sse.com.cn).

2. Proposals requiring special resolutions: none

3. Proposals for separate counting of votes for small and medium investors: 1

4. Proposals involving avoidance of voting by related shareholders: 1

Name of the related shareholders that shall avoid voting: Zhejiang Province Cultural Industry Investment Group Co., Ltd.

5. Proposals involving preferred shareholders participating in voting: none

III. Voting notice for shareholders

(I) Where the Company’s shareholders exercise their voting rights through the Shanghai Stock Exchange shareholders’ meeting online voting system, they may vote by logging into the trading system voting platform (through the terminal of the securities firm designated for trading) or by logging into the internet voting platform (website: vote.sseinfo.com). If shareholders log into the internet voting platform for the first time to vote, they need to complete shareholder identity verification. For details, please refer to the instructions on the website of the internet voting platform.

(II) Where voting rights are voted on more than once by the same shareholder through on-site, the online voting platform of this Exchange, or other methods, the result of the first vote shall prevail.

(III) For shareholders holding multiple shareholders’ accounts, the quantity of voting rights they can exercise is the sum total of the number of ordinary shares of the same class and preferred shares of the same type held across all shareholders’ accounts under their name.

For shareholders holding multiple shareholders’ accounts that participate in the shareholders’ meeting through the online voting system of this Exchange, they may participate through any one of their shareholders’ accounts. After voting, it is deemed that the ordinary shares of the same class and the preferred shares of the same type under all of their shareholders’ accounts have respectively cast the same opinion voting ballots.

For shareholders holding multiple shareholders’ accounts that conduct voting repeatedly through multiple shareholders’ accounts, the voting opinions on the ordinary shares of the same class and preferred shares of the same type under all of their shareholders’ accounts shall each be determined according to the voting result of the first vote for each class and each type of shares.

(IV) Only after shareholders have voted on all proposals can they submit their ballots.

IV. Attending persons of the meeting

(I) Shareholders registered with the Shanghai branch of China Securities Depository and Clearing Corporation Limited by the close of business on the afternoon of the date of stock registration are entitled to attend the shareholders’ meeting (for details, see the table below), and may also appoint proxies in writing to attend the meeting and participate in voting. Such proxy does not need to be a shareholder of the Company.

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(II) Directors and senior management of the Company.

(III) Lawyers engaged by the Company.

(IV) Other persons

V. Registration methods for the meeting

1. Registration date and time: April 3, 2026

2. Registration methods:

(1) Corporate shareholders: use the stock account card, a copy of the business license, and a legal-person authorization letter stamped with the company’s official seal or a certificate of the legal representative, together with the identity card of the attendee to complete registration procedures.

(2) Natural-person shareholders: use the identity card and stock account card of the shareholder. Authorized proxy: the authorized proxy shall use the identity card, authorization letter, and the stock account card of the appointing party to complete registration procedures.

(3) Non-local shareholders may register by mail or by fax. The letter or fax must state the shareholder’s name, shareholder account, contact address, postal code, and telephone number, and attach copies of the identity card and shareholder account. Please indicate “Shareholders’ Meeting” on the envelope.

3. Registration venue: Office of the Secretary to the Board of Directors, Zhejiang Wenying Group Co., Ltd.

Address: 18/F, Zhejiang Culture Building, 370 Stadium Road, Gongshu District, Hangzhou, Zhejiang

Contact person: Yan Ming

Tel.: 0571-88068357

Email: ir@zhewenpictures.com

VI. Other matters

1. The duration of this shareholders’ meeting is half a day. Shareholders attending shall arrange their meals and accommodation and transportation expenses themselves;

2. Shareholders attending the meeting should arrive at the meeting venue half an hour before the meeting begins and bring the original copies of their identity documents, shareholding certificates, authorization letters, etc., for entry verification.

Notice is hereby given.

Appendix 1: Authorization letter

Board of Directors of Zhejiang Wenying Group Co., Ltd.

March 25, 2026

Appendix 1: Authorization letter

Authorization letter

To: Board of Directors of Zhejiang Wenying Group Co., Ltd.

I hereby authorize Mr. (Ms.) __________________ to represent this unit (or myself) to attend the Company’s first extraordinary general meeting of shareholders in 2026 to be held on April 9, 2026, and to exercise voting rights on behalf of the undersigned.

Number of ordinary shares held by the appointing party:

Appointing party shareholder account number:

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Signature of the appointing party (stamp/seal): Signature of the proxy:

ID number of the appointing party: ID number of the proxy:

Date of authorization: ______ year ______ month ______ day

Notes:

The appointing party shall choose one option among “agree,” “disagree,” or “abstain” and mark it with a “√” on this authorization letter. If the appointing party does not give specific instructions in this authorization letter, the proxy shall have the right to vote according to the proxy’s own preferences.

Stock code: 601599 Stock abbreviation: Zhejiang Wenying Announcement No.: 2026-004

Zhejiang Wenying Group Co., Ltd.

Announcement of Resolutions of the 18th Meeting of the Seventh Session of the Board of Directors

The board of directors of the Company and all directors guarantee that there are no false records, misleading statements, or material omissions in the contents of this announcement, and assume separate and joint liability for the truthfulness, accuracy, and completeness of the contents.

The notice of the 18th meeting of the seventh session of the board of directors of Zhejiang Wenying Group Co., Ltd. (hereinafter referred to as the “Company”) was issued on March 20, 2026 by email and by hand-delivery, and the meeting was held by correspondence on March 24, 2026. In this meeting, 9 directors were required to attend, and 9 directors actually attended. The meeting was presided over by Mr. Fu Liwen, the chairman of the Company. The meeting complies with the relevant provisions of the 《Company Law》 and the 《Articles of Association》. All senior management personnel of the Company attended the meeting. The following proposals were deliberated and approved:

I. Approval of the Proposal on Participating in the Establishment and Investment in a Film Industry Fund and Related Party Transaction

The Company plans to contribute RMB 200 million, together with the related party Changjiang Delta Shuwen Private Fund Management (Hangzhou) Co., Ltd. and other parties, to establish Zhejiang Film Industry Equity Investment Fund Partnership Enterprise (Limited Partnership) (tentative name; final name subject to approval and registration by the market supervision and administration authority). The board of directors has no objection to the matters regarding participation in contributing capital to establish the film fund. This matter has been deliberated and approved by the Company’s independent director special meeting.

Voting result: 7 votes in favor, 0 votes against, 0 votes abstaining; related directors Fu Liwen and Jiang Tiangang avoided voting.

For details, please refer to the Company’s disclosure on the website of the Shanghai Stock Exchange on the same day (

This proposal is still subject to approval at the Company’s shareholders’ meeting.

II. Approval of the Proposal on Convening the First Extraordinary General Meeting of Shareholders in 2026

In accordance with the relevant provisions of the 《Company Law》 and the 《Articles of Association》, the board of directors proposes to convene the first extraordinary general meeting of shareholders in 2026.

Voting result: 9 votes in favor, 0 votes against, 0 votes abstaining.

For details, please refer to the Company’s disclosure on the website of the Shanghai Stock Exchange on the same day (

The meeting materials will be issued separately before the meeting is held.

Notice is hereby given.

Board of Directors of Zhejiang Wenying Group Co., Ltd.

March 25, 2026

Stock code: 601599 Stock abbreviation: Zhejiang Wenying Announcement No.: 2026-005

Zhejiang Wenying Group Co., Ltd.

Announcement on Participating in the Investment to Establish a Film Industry Fund

and Related Party Transaction

The board of directors of the Company and all directors guarantee that there are no false records, misleading statements, or material omissions in the contents of this announcement, and assume separate and joint liability for the truthfulness, accuracy, and completeness of the contents.

Key information:

1. Name of the investment target: Zhejiang Film Industry Equity Investment Fund Partnership Enterprise (Limited Partnership) (tentative name; final subject to approval and registration by the market supervision and administration authority) (hereinafter referred to as the “Fund” or the “partnership enterprise”)

2. Investment amount by Zhejiang Wenying: RMB 200,000,000 yuan, accounting for 19.82% of the Fund’s total subscription amount for this round of capital contribution.

3. This investment constitutes a related party transaction, but does not constitute a major asset restructuring.

4. This investment is still subject to approval by the shareholders’ meeting.

5. The partnership enterprise is currently in the preparation stage and has not yet officially signed the partnership agreement. Except for the core contents of the partnership agreement, the final terms shall be subject to the “Partnership Agreement” formally signed by all parties. As the partners of this Fund have not yet made capital contributions, the industrial fund still needs to complete registration, filing, and other procedures with relevant institutions, such as the market supervision and administration authority and the China Securities Investment Fund Association. The industrial fund has characteristics including a long investment cycle and relatively low liquidity. During the investment process, it is affected by multiple factors such as the macroeconomy, industry cycles, and the operation and management of the investment targets. There may be risks including failure to complete investment of projects within the investment period, inability to realize the expected benefits, and inability to successfully exit within the existence period. Investors are kindly requested to pay attention to investment risks.

I. Overview of the related party transaction

(I) Basic information of the related party transaction

Zhejiang Wenying Group Co., Ltd. (hereinafter referred to as the “Company”) intends to jointly sign the 《Zhejiang Film Industry Fund Partnership Agreement》 (hereinafter referred to as the 《Partnership Agreement》) with the related party Changjiang Delta Shuwen Private Fund Management (Hangzhou) Co., Ltd. (hereinafter referred to as “Changjiang Delta Shuwen”) and other capital contributors, and to participate as a limited partner in establishing Zhejiang Film Industry Equity Investment Fund Partnership Enterprise (Limited Partnership) (tentative name; final subject to approval and registration by the market supervision and administration authority). The total subscription amount of this Fund is RMB 10,090 million. The Company plans to subscribe for RMB 20,000 million, with capital sources from its own funds, accounting for 19.82% of the Fund’s total subscription amount for this round of capital contribution.

(II) Purpose and reasons for this transaction

The Company intends to subscribe for part of the interests in the industrial fund, which can rely on the fund’s market-oriented operation platform, link high-quality industry resources, broaden content sources, improve the layout of the industrial chain, achieve two-way empowerment between the Company’s main business and fund investments, and continuously enhance the Company’s core competitiveness in the film and television industry.

(III) The Company held the 2nd meeting of the second independent directors’ special meeting of the 7th session on March 24, 2026 and the 18th meeting of the 7th session of the board of directors, respectively deliberated and approved the Proposal on Participating in the Investment to Establish a Film Industry Fund and Related Party Transaction. This transaction is still subject to approval at the shareholders’ meeting.

(IV) This transaction constitutes a related party transaction, but does not constitute a major asset restructuring.

(V) Within the past 12 months, the Company and the same related party and the Company and different related parties have not carried out any related party transactions under the same transaction category.

II. Introduction to the related parties

(I) Relationship description

Pursuant to the 《Shanghai Stock Exchange Listing Rules for Stocks》, Changjiang Delta Shuwen’s actual controller is Zhejiang Province Cultural Industry Investment Group Co., Ltd., the Company’s controlling shareholder (hereinafter referred to as “Zhejiang Cultural Investment Group”). Therefore, Changjiang Delta Shuwen is a related party of the Company, and this transaction constitutes a related party transaction involving joint investment with a related party.

(II) Basic information of the related party

1. Name of the enterprise: Changjiang Delta Shuwen Private Fund Management (Hangzhou) Co., Ltd.

2. Type of enterprise: Other limited liability company

3. Unified Social Credit Code: 91330102MA2H1FKG02

4. Date of establishment: December 17, 2019

5. Filing code: P1074078

6. Registered address: Room 587-4, No. 88-2, Yuan Shimei Hou, Shangcheng District, Hangzhou, Zhejiang Province

7. Registered capital: RMB 50 million

8. Legal representative: Chen Nan

9. Business scope: Private equity investment fund management, and services for venture capital fund management (only after completing registration and filing with the China Securities Investment Fund Association may it engage in business activities); (without approval from financial regulatory authorities such as financial regulators, it shall not engage in financial services such as accepting deposits and providing financing guarantees from the public, entrusting wealth management for clients, etc.) (Except for projects that require approval according to law, it shall carry out business activities independently in accordance with its business license)

10. Controlling shareholder and actual controller: Zhejiang Cultural Investment Group

11. Explanation of other interest relationships: Except for control by the same actual controller, Changjiang Delta Shuwen and the entities it controls have no other interest relationships with the Company in terms of property rights, business, assets, creditor-debtor relationships, personnel, etc.

12. Major financial data for the past two years: As of December 31, 2025, Changjiang Delta Shuwen’s total assets were RMB 59.7847 million, net assets were RMB 55.5011 million, 2025 operating revenue was RMB 10.1703 million, and net profit was RMB 2.6020 million (the above data are unaudited). As of December 31, 2024, Changjiang Delta Shuwen’s total assets were RMB 55.7237 million, net assets were RMB 42.0279 million, 2024 operating revenue was RMB 18.2169 million, and net profit was RMB 5.7306 million (the above data have been audited).

III. Basic information of the related party transaction target

(I) Specific information of the Fund

1. Name of the Fund: Zhejiang Film Industry Equity Investment Fund Partnership Enterprise (Limited Partnership) (tentative name; final subject to approval and registration by the market supervision and administration authority)

2. Fund size: RMB 10,090 million

3. Investment direction: In principle, it will invest in high-quality benchmark film projects with projects approved/initiated in Zhejiang, while also considering equity investments in film-related industrial companies. In addition to the direct investments mentioned above, this Fund may participate in investments in LP interests of other top film industry funds and investments in top film industry companies.

4. Capital contribution method: All partners contribute in the form of RMB cash.

5. Contribution arrangement: The Fund will complete capital contributions in five installments, and the amount of capital contributions to be made in each installment is RMB 201.8 million. Zhejiang Wenying plans to subscribe for RMB 200 million, and the amount to be actually paid in each installment will be RMB 40 million.

6. Capital contribution by the manager/capital contributor: The total subscribed scale of this Fund is RMB 1.009 billion. Among them, Changjiang Delta Shuwen contributes RMB 10 million and serves as GP and fund manager; Zhejiang Wenying, as a limited partner, contributes RMB 200 million; and other limited partners collectively contribute RMB 799 million. Except for Changjiang Delta Shuwen, Zhejiang Wenying and other capital contributors have no related relationship. At present, each capital contributor is still in the fund investment decision-making process. The Company will promptly fulfill information disclosure obligations according to subsequent progress.

(II) Fund management model, investment model, and method of profit distribution

For the Fund’s management model, investment model, and profit distribution method, please refer to “IV. Core terms of the Partnership Agreement” in this announcement.

IV. Core terms of the Partnership Agreement

1. Fund size: The total subscribed scale of the Fund is RMB 1.009 billion, of which the total subscribed contribution by limited partners is RMB 999 million and the subscribed contribution by the fund manager is RMB 10 million. The Fund’s actual capital contributions will be made in five installments, and the actual contribution amount in each installment is RMB 201.8 million.

2. Duration: The Fund’s existence period is 8 years, of which the investment period is 5 years, calculated from the date of payment of the first installment; the exit period is 2 years, meaning the 2 years after the investment period expires serve as the exit period. If the exit period needs to be extended due to special circumstances, it shall be extended only after unanimous approval of all partners, and the extension period shall in principle not exceed 1 year.

3. Fund management fee:

(1) During the Fund’s investment period and exit period, the management fee rate is 0.5% per year. If less than one year, it shall be calculated based on the actual management days. No management fees shall be calculated or paid during any extension period and liquidation period of the partnership enterprise.

(2) Management fee during the investment period: The calculation base is the total amount of subscribed capital actually paid in by the Fund. If project exits and distributions are achieved during the investment period, the calculation base shall be reduced by the corresponding investment costs of the exited investment projects.

(3) Management fee during the exit period: The calculation base is the sum of the investment costs of all projects of the Fund that have not yet exited.

(4) Management fee for any extension period: No management fee is calculated or collected for any extension period.

4. Decision-making committee:

(1) The fund manager is responsible for establishing an investment decision-making committee composed of investment professionals (hereinafter referred to as the “Investment Committee”), which will make professional decisions on investment opportunities. The Investment Committee has decision-making authority over major matters such as project investment and financial operations of the partnership enterprise.

(2) The Investment Committee consists of seven members: 1 member recommended by the fund manager, 1 member recommended by Zhejiang Wenying, 3 members recommended by other capital contributors in aggregate, and 2 external expert members. The external expert members are senior individuals who have extensive experience and industry influence in areas such as film content creation, film investment, or equity investment. They are selected project by project from the external expert pool established by the partnership enterprise.

(3) If the investment project is a film project, before submitting it to the Investment Committee for deliberation, the Investment Committee shall receive the filing receipt issued by the State Film Administration, and the project may then be submitted to the Investment Committee in accordance with the provisions of this agreement.

(4) Resolutions of the Investment Committee require the approval of at least six (including six) members in order to pass.

(5) The Investment Committee shall have 5 observers: 1 recommended by the Zhejiang Provincial Party Committee’s Department of Publicity, and 4 recommended by other capital contributors in aggregate. Observers may attend the Investment Committee meetings but do not vote on matters decided by the Investment Committee; they have the right to provide professional opinions or suggestions on matters such as the project content orientation, industry trends, social impact, policy compliance, cultural value, etc.

5. Order of profit distribution:

(1) Pay the fees payable but unpaid for the partnership enterprise in the current period;

(2) Distribute to each partner in accordance with their respective proportions of paid-in capital contributions until all partners obtain their entire paid-in capital contribution amounts;

(3) Distribute to each partner in accordance with their respective proportions of paid-in capital contributions until all partners have achieved investment returns calculated at an annualized return rate of 5% per year (with one year counted as 365 days, same hereafter) (simple interest) based on their respective paid-in capital contribution amounts;

(4) If after the above distributions are completed, the partnership enterprise still has distributable cash, such portion is excess returns. For excess returns, 20% of the excess returns shall be distributed to the executive affairs partner, and the remaining 80% shall be distributed among the limited partners in proportion to their relative paid-in capital contribution ratios.

(5) All parties confirm that the partnership enterprise distributes in accordance with the distribution order above, and only if the distribution under the current order is fully completed and the partnership enterprise still has distributable cash, may the distribution under the next order be carried out.

6. Exit methods: When selling or disposing of an investment project by other means, an exit mechanism may be selected in accordance with law, including but not limited to: sharing of project revenues, market-based transfer of project interests, IPO listing of the investee company or acquisition, repurchase of equity, sale of equity, project cooperation and exit, etc. The specific exit method for each investment project shall be determined by the Investment Committee at that time.

7. Liability for breach of contract: If the executive affairs partner commits a breach, the provisions in the executive affairs partner’s breach handling measures shall apply. If other partners violate the provisions of this agreement and cause losses to the partnership enterprise or other partners, they shall bear liability for compensation. If a partner breaches in terms of paying capital contributions, the provisions on late payment of capital contributions shall apply.

8. Dispute resolution: This agreement is governed by the laws of the People’s Republic of China. All disputes arising from or related to this agreement shall, first, be resolved through friendly consultations between the relevant parties. If the relevant parties fail to resolve through consultations, the disputes shall be submitted to the people’s court at the place where the fund manager is located. Court fees shall be borne by the losing party. The losing party shall also compensate the winning party for expenditures such as the attorney’s fees. For clauses not involving disputes, they shall continue to be performed in accordance with the provisions of this agreement without being affected by dispute resolution.

9. Effectiveness of the Partnership Agreement: This agreement shall become effective as of the date from the first written date of this agreement after the signing (or affixing a person’s name seal) by the legal representatives/executive affairs partner designated representatives/authorized representatives of each party and the affixing of the official seals or contract special seals of each party.

V. Impact of the transaction on the listed company

By participating in establishing the film fund and contributing capital, the Company mainly invests in high-quality film industry projects, which will help expand the Company’s reserve of high-quality film projects, broaden content sources, improve the layout of the industrial chain, and form a “dual-wheel drive” of in-house production plus fund investments, thereby enhancing the Company’s core competitiveness and industry discourse power in the film market, and aligning with the Company’s long-term development strategy. By leveraging a professionalized fund management model, it will optimize the Company’s external investment structure, diversify the risk of investing in a single project, broaden market-based channels for investment returns, and achieve coordinated improvement of industrial value and capital efficiency, providing solid support for the Company’s sustained and healthy development. If the projects invested by the Fund successfully exit, the Company may obtain investment returns, enhancing earnings flexibility and development resilience. This capital contribution is sourced from the Company’s own funds. The Fund’s investment will be made in five installments, which will not have a material impact on the Company’s cash flow from daily production and operations. This joint investment will not lead to the Company and its related parties engaging in competition in the same industry.

VI. Review and approval procedures that the related party transaction shall undergo

1. On March 24, 2026, the Company convened the 2nd independent directors’ special meeting of the seventh session of the board of directors, which deliberated and approved the Proposal on Participating in the Investment to Establish a Film Industry Fund and Related Party Transaction. The independent directors considered that this related party transaction conforms to the Company’s development strategy, the transaction terms are fair and reasonable, the review procedures comply with relevant provisions, and there is no situation that harms the interests of the Company and small and medium shareholders; they agreed to submit this proposal to the board of directors for review.

2. On March 24, 2026, the Company convened the 18th meeting of the seventh session of the board of directors, which deliberated the Proposal on Participating in the Investment to Establish a Film Industry Fund and Related Party Transaction. Related directors Mr. Fu Liw en and Mr. Jiang Tiangang avoided voting, and the non-related directors deliberated and approved the proposal with 7 votes in favor, 0 votes against, and 0 votes abstaining. The board of directors considered that this related party transaction is based on the Company’s normal business development needs, the transaction terms are fair and reasonable, the review procedures comply with relevant provisions, and there is no situation harming the Company and all shareholders, especially the interests of small and medium shareholders.

3. This transaction still requires approval by the shareholders’ meeting. Related shareholder Zhejiang Cultural Investment Group will avoid voting.

VII. Historical related party transactions that require special mention (excluding daily related party transactions)

Within the 12 months prior to this transaction, other than this investment matter, the Company and the same related party or different related parties have not conducted related party transactions under the same transaction category.

VIII. Risk disclosure

1. The partnership enterprise is currently in the preparation stage and has not yet officially signed the partnership agreement. Except for the core contents of the partnership agreement, the final terms shall be based on the 《Partnership Agreement》 formally signed by all parties.

2. The partners of this Fund have not yet made capital contributions, and the industrial fund still needs to complete registration and filing procedures through relevant authorities such as the market supervision and administration authority and the China Securities Investment Fund Association.

3. The industrial fund has characteristics including a long investment cycle and relatively low liquidity. During the investment process, it is affected by multiple factors such as the macroeconomy, industry cycles, and the operation and management of the investment targets. Therefore, there may be risks such as failure to complete project investments within the investment period, inability to realize expected benefits, and inability to successfully achieve exit within the existence period.

The Company will strictly comply with the relevant disclosure requirements of the Shanghai Stock Exchange and timely disclose material progress of relevant matters in accordance with the staged disclosure principle, in order to protect investors, especially the lawful interests of small and medium investors. Going forward, the Company will continue to monitor the operation of the partnership enterprise, management, the implementation process of investment projects, and the progress of post-investment management, so as to effectively reduce investment risks.

Investors are kindly requested to pay attention to investment risks.

Notice is hereby given.

Board of Directors of Zhejiang Wenying Group Co., Ltd.

March 25, 2026

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