Yunsaizhi Lian Co., Ltd. Announcement on the Acquisition of a 12% Equity Stake in Smart Automotive Innovation Development Platform (Shanghai) Co., Ltd.

Stock Code: 600602 Stock Short Name: YunSai ZhiLian Announcement No.: 2026-007

900901 YunSai B Shares

YunSai ZhiLian Co., Ltd.

Announcement on the Acquisition of 12% Equity Interest in Shanghai Smart Car Innovation Development Platform Co., Ltd.

by Way of Equity

Key Information:

● Brief Description of the Transaction: After appointing an audit and valuation institution to conduct a special valuation of the value of the entire shareholders’ equity of Shanghai Smart Car Innovation Development Platform Co., Ltd. (hereinafter referred to as the “Automobile Platform”) as of September 30, 2025 as the valuation benchmark date, and referring to the appraised value filed with the SASAC, YunSai ZhiLian Co., Ltd. (hereinafter referred to as “YunSai ZhiLian” or the “Company”) acquires by way of equity participation the 12% equity interest in the Automobile Platform held by Advanced Manufacturing Industry Investment Fund II (Limited Partnership) (hereinafter referred to as the “Advanced Manufacturing Industry Fund”) (not yet fully paid-in), with a subscribed investment amount of RMB 60.00 million.

● This transaction does not constitute a related-party transaction.

● This transaction does not constitute a material asset restructuring.

● This transaction has been approved by the 25th meeting of the 12th session of the Board of Directors of the Company, and therefore does not require submission to the general meeting of shareholders for consideration.

● This transaction may involve risks related to corporate governance and protection of shareholders’ equity, as well as risks that strategic synergy and investment value may not meet expectations.

I. Overview of the Transaction

The Automobile Platform is the first intelligent car innovation development platform approved by the National Development and Reform Commission for Shanghai construction. It is positioned to build a new main entity for intelligent car innovation development platform based in Shanghai, radiating the Yangtze River Delta, and serving the whole country. Based on the operating model of “aggregating data, building platforms, setting standards, leading technologies, and consolidating industries,” it is committed to promoting the openness, aggregation, and operation of multi-source data such as intelligent automobiles and smart transportation, so as to lead innovation in intelligent connected vehicles and help develop green and smart transportation. YunSai ZhiLian is positioned as a provider and operator of comprehensive smart city solutions and an AI solutions service provider. It focuses on “the full industrial chain of the next-generation information technology,” and has made arrangements across areas including data acquisition, aggregation, transmission, processing, circulation, utilization, operation, and security.

In accordance with the Company’s overall strategic deployment, to serve the integrated development of Shanghai’s intelligent connected vehicles and digital cities, and after deliberation at the Company’s 25th meeting of the 12th session of the Board of Directors, it was agreed that the Company will acquire 12% equity interest in the Automobile Platform held by the Advanced Manufacturing Industry Fund by way of equity participation.

This transaction has been approved by the 25th meeting of the 12th session of the Board of Directors of the Company, and therefore does not require submission to the general meeting of shareholders for consideration.

II. Introduction to the Counterparty of the Transaction

Name: Advanced Manufacturing Industry Investment Fund II (Limited Partnership)

Date of Establishment: June 2019

Unified Social Credit Code: 91320191MA1YK7YA6J

Office Address: Room 1380, Yingying Building, No. 99 Tuanjie Road, Research and Innovation Park, Jiangbei New District, Nanjing

Amount of Capital Contribution: RMB 49.82333 billion

Main Business Scope: Equity investment; investment management and consulting. (Projects that must be approved according to law may be carried out only after approval by the relevant authorities.)

Major Shareholders: The Ministry of Finance of the People’s Republic of China (capital contribution ratio 25%), China Development Investment Corporation (capital contribution ratio 10.0355%), China Merchants Capital Holdings Co., Ltd. (capital contribution ratio 9.634%), Hefei Venture Capital Guidance Fund Co., Ltd. (capital contribution ratio 6.0213%), and in addition, the capital contributors also include the National Social Security Fund Council, local government guidance funds from multiple regions, industrial capital, financial institutions, and others, totaling dozens of capital-contributing entities.

III. Basic Information of the Transaction Target

Company Name: Shanghai Smart Car Innovation Development Platform Co., Ltd.

Unified Social Credit Code: 91310114MA7C2A7B3U

Legal Representative: Zu Shijie

Registered Capital: RMB 500 million (paid-in: RMB 250 million)

Equity Proportion: Shanghai Automotive Industry (Group) Co., Ltd. (hereinafter referred to as “SAIC Group”) subscribed capital contribution of RMB 200 million, accounting for 40%; Advanced Manufacturing Industry Fund subscribed capital contribution of RMB 200 million, accounting for 40%; Shanghai International Automobile City (Group) Co., Ltd. subscribed capital contribution of RMB 100 million, accounting for 20%.

Date of Establishment: 2021-11-16

Address: Room 2201 JT1505, No. 888, Moyu South Road, Anting Town, Jiading District, Shanghai

Business Scope: General Items: technology services, technology development, technology consulting, technology exchange, technology transfer, technology promotion; software development; organizing cultural and arts exchange activities; information system integration services; integrated circuit design; internet data services; development of AI application software; integration services for AI industry application systems; AI basic resources and technology platforms; IoT technology services; conference and exhibition services; sales of terminal testing equipment. (Except for projects that must be approved according to law, business activities may be carried out independently according to law with a business license.) Licensed Projects: testing and inspection services; value-added telecommunications business for category 1; value-added telecommunications business for category 2.

Key Financial Indicators:

As of December 31, 2024, according to the audit, the Automobile Platform’s total assets were RMB 204.0334 million, total liabilities were RMB 32.7469 million, and book net assets were RMB 171.2865 million. Operating revenue was RMB 40.2918 million, and net profit was RMB -22.8615 million.

As of September 30, 2025, according to the audit, the Automobile Platform’s total assets were RMB 176.6964 million, total liabilities were RMB 22.7534 million, and book net assets were RMB 153.9430 million. Operating revenue from January to September 2025 was RMB 1.34M, and net profit was RMB -17.3435 million.

III. Valuation and Pricing of the Transaction Target

After the Company’s Board meeting approves this transaction, the Company will complete the transfer of equity by means of a contractual transaction.

(I) Pricing Principles

According to the Automobile Platform reconstruction plan, with September 30, 2025 as the valuation benchmark date, the Company will appoint an audit and valuation institution to conduct a special valuation of the value of the entire shareholders’ equity of the Automobile Platform. Based on the appraised value filed with the SASAC for SAIC Group, YunSai ZhiLian will acquire the 12% equity interest in the Automobile Platform held by the Advanced Manufacturing Industry Fund (not yet paid-in), with a subscribed capital contribution of RMB 60.00 million.

(II) Transaction Method

The Company will acquire the 12% equity interest in the Automobile Platform held by the Advanced Manufacturing Industry Fund by means of a contractual transfer of the subscribed but unpaid equity, and after completion of the acquisition, the paid-in capital will be made in full.

Before the equity transaction, the equity structure of the Automobile Platform is as follows:

■

After the equity transaction, the equity structure of the Automobile Platform is as follows:

■

(III) Valuation

Previously, SAIC Group entrusted Shanghai Lixin Assets Appraisal Co., Ltd. to carry out a valuation of the entire shareholders’ equity of the Automobile Platform as of September 30, 2025, and issued the asset appraisal report titled “Asset Appraisal Report on the Value of All Shareholders’ Equity of the Intelligent Vehicle Innovation Development Platform (Shanghai) Co., Ltd. Involved in the Proposed Contractual Transfer of Certain Equity Interests in the Intelligent Vehicle Innovation Development Platform (Shanghai) Co., Ltd. Held by Shanghai Automotive Industry (Group) Co., Ltd. and Shanghai International Automobile City (Group) Co., Ltd.” (Xin Zi Ping Bao Zi [2025] No. 080110). The report has been approved through expert review organized by the SASAC and filed for record (filing number: Bei Hu Guo Zi Wei 202600006). The appraised value of the entire shareholders’ equity of the Automobile Platform is RMB 249.6539 million.

The Company, with September 30, 2025 as the valuation benchmark date, will appoint an audit and valuation institution to conduct a special valuation of the value of the entire shareholders’ equity of the Automobile Platform. The evaluated value after valuation is consistent with the results of the SASAC filing.

(IV) Profit Forecast

According to the feasibility study report, revenue in 2030 is expected to reach about RMB 100 million.

V. Main Contents of the Transaction Contract or Agreement and Performance Arrangements

After this matter is approved by the Board of Directors, the Company will authorize the management of the Company to sign the relevant documents and handle the related procedures.

VI. Impact on the Listed Company

(I) Impact of the Transaction on the Company’s Future Financial Position and Operating Results

This transaction is based on the Company’s strategic positioning and forward-looking deployment. The primary purpose is to accumulate relevant technical capabilities such as data governance and operations, and to accumulate data-authorized operation data sources. It will help the Company enhance its industrial layout and technical capabilities in the big data services sector, and in the short term will not have a significant impact on the Company’s financial position.

(II) Transaction Risks

1. Risks related to corporate governance and protection of shareholders’ equity

This investment is a strategic investment by way of equity participation. According to the current transaction arrangement, the Company has not yet appointed directors or senior management personnel to participate in the Automobile Platform’s daily operational decision-making and management. Therefore, there may be risks that significant operational information of the Automobile Platform is not obtained in a timely or sufficiently comprehensive manner.

Response measures: By having shareholder representatives attend Board meetings, the Company can participate throughout in the deliberation of key operational decisions, major project investments, and other important matters of the target company, and grasp in real time the core developments of the Automobile Platform’s business.

2. Risks that strategic synergy and investment value may not meet expectations

The purpose of this investment is to strategically position in the intelligent driving segment and to develop an industry-coordination layout. If the Automobile Platform’s development does not meet expectations, there may be risks that the strategic position value cannot be fully realized and that the investment expectation targets may be difficult to achieve.

Response measures: Leverage the Company’s technical and service capabilities in data and vertical application fields, give full play to the Company’s business strengths such as AI enablement and data services, and actively form business synergy with the Automobile Platform.

This announcement is hereby made.

Board of Directors of YunSai ZhiLian Co., Ltd.

April 2, 2026

Stock Code: 600602 Stock Short Name: YunSai ZhiLian No.: Lin 2026-006

900901 YunSai B Shares

YunSai ZhiLian Co., Ltd.

Announcement of Resolutions of the 25th Meeting of the 12th Session of the Board of Directors

Our Board of Directors and all directors hereby guarantee that this announcement contains no false records, misleading statements, or material omissions, and assume individual and joint liability for the truthfulness, accuracy, and completeness of the contents of this announcement.

The notice of the 25th meeting of the Board of Directors of YunSai ZhiLian Co., Ltd. (hereinafter referred to as “YunSai ZhiLian” or the “Company”) was issued on March 27, 2026, and the meeting was held on April 1, 2026 by means of communication voting. The meeting should have been attended by 7 directors, and in fact 7 directors attended the meeting. The meeting was presided over by Mr. Liu Shanquan, Chairman of the Company. Senior management personnel of the Company attended the meeting. This meeting complied with relevant laws and regulations including the Company Law, the Rules Governing the Listing of Stocks on the Shanghai Stock Exchange, and the Articles of Association, and the resolutions made are lawful and effective.

The meeting deliberated and adopted the proposal on “YunSai ZhiLian’s Acquisition of 12% Equity Interest in the Automobile Platform.”

Voting results: 7 votes in favor, 0 votes against, 0 votes abstained.

In accordance with the Company’s overall strategic deployment, to serve the integrated development of Shanghai’s intelligent connected vehicles and digital cities, it is agreed that the Company will acquire 12% equity interest in Shanghai Smart Car Innovation Development Platform Co., Ltd. (hereinafter referred to as the “Automobile Platform”) by way of equity participation.

Before the acquisition, the equity structure of the Automobile Platform is as follows: Shanghai Automotive Industry (Group) Co., Ltd. (hereinafter referred to as “SAIC Group”) subscribed capital contribution of RMB 200 million, accounting for 40%; Advanced Manufacturing Industry Investment Fund II (Limited Partnership) (hereinafter referred to as the “Advanced Manufacturing Industry Fund”) subscribed capital contribution of RMB 200 million, accounting for 40%; Shanghai International Automobile City (Group) Co., Ltd. subscribed capital contribution of RMB 100 million, accounting for 20%.

It is agreed that, with September 30, 2025 as the valuation benchmark date, the Company will appoint an audit and valuation institution to conduct a special valuation of the value of the entire shareholders’ equity of the Automobile Platform. Based on the appraised value and with reference to the appraised value filed with the SASAC for SAIC Group, YunSai ZhiLian will acquire the 12% equity interest in the Automobile Platform held by the Advanced Manufacturing Industry Fund (not yet paid-in), and the subscribed capital contribution will be RMB 60.00 million. The Board of Directors authorizes the management of the Company to sign the relevant documents and handle the related procedures.

Please refer to the announcement disclosed on the same day titled “Announcement on YunSai ZhiLian’s Acquisition of 12% Equity Interest in Shanghai Smart Car Innovation Development Platform Co., Ltd.” (Lin 2026-007).

This announcement is hereby made.

Board of Directors of YunSai ZhiLian Co., Ltd.

April 2, 2026

Endless information and precise interpretation—available on the Sina Finance APP