Suzhou Saifen Technology Co., Ltd. Share Repurchase Report on Repurchasing Shares through Centralized Competitive Bidding Trading

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Stock code: 688758       Stock short name: Saimen Technology        Announcement No.: 2026-009

The board of directors of the Company and all its directors hereby guarantee that the contents of this announcement contain no false records, misleading statements or material omissions, and shall bear legal responsibility for the truthfulness, accuracy, and completeness of the contents in accordance with law.

Key matters for attention:

● Amount for share repurchase: not less than RMB 40M (inclusive) and not more than RMB 80M (inclusive).

● Source of funds for share repurchase: Suzhou Saimen Technology Co., Ltd. (hereinafter referred to as the “Company”) uses its own funds.

● Purpose of share repurchase: to maintain the Company’s value and equity incentives or employee stock ownership plans. Among them, the repurchase amount for equity incentives or employee stock ownership plans shall be not less than RMB 20M (inclusive) and not more than RMB 40M (inclusive); the repurchase amount for maintaining the Company’s value shall be not less than RMB 20M (inclusive) and not more than RMB 40M (inclusive). In accordance with the repurchase rules and regulatory guidance requirements, the shares repurchased for this portion shall be sold by way of centralized competitive bidding after 12 months from the disclosure of this repurchase results and changes in share capital announcement, and the Company shall, in accordance with the relevant repurchase rules and regulatory guidance requirements, fulfill the relevant deliberation and information disclosure obligations. If the Company is unable to use the relevant shares for the above purposes within 3 years after the date of the announcement of the implementation results of the share repurchase and changes in share capital, the shares already repurchased shall be cancelled. If national authorities adjust the relevant policies, this share repurchase plan shall be implemented under the adjusted policies.

● Repurchase price of shares: not more than RMB 28 per share. This price shall not exceed 150% of the average trading price of the Company’s shares during the 30 trading days prior to the resolution by the board of directors to approve the share repurchase.

● Method of share repurchase: centralized competitive bidding.

● Share repurchase term: for maintaining the Company’s value, within 3 months from the date the board of directors approves this share repurchase plan; for equity incentives or employee stock ownership plans, within 12 months from the date the board of directors approves this share repurchase plan.

● Whether relevant shareholders have any intention to reduce holdings: On January 13, 2026, the Company disclosed on the website of the Shanghai Stock Exchange the “Announcement on the Share Reduction Plan by Shareholders Holding More Than 5% of Shares.” The Company’s shareholder Anhui Tonghua High-Tech Center (Limited Partnership) (hereinafter referred to as “Tonghua High-Tech”) holding more than 5% of the Company’s shares plans to reduce the Company’s shares by no more than 3.00% of the total share capital between February 3, 2026 and May 2, 2026.

As of the date of disclosure of this announcement, the Company’s shareholder holding more than 5% of shares, Jiangsu Shiquan Chengda Equity Investment Center (Limited Partnership) (hereinafter referred to as “Shiquan Chengda”), has not yet replied to the Company’s inquiry. The Company’s shareholders Zhou Qingjin and Lu Min, as well as director Zhang Min, may have a plan to reduce holdings within the next 3 months and within the next 6 months. Except for the aforementioned shareholders, all other directors and senior management have replied that they have no plan to reduce the Company’s shares within the next 3 months or within the next 6 months.

If the above-mentioned persons or shareholders in the future intend to implement any share reduction plan, the Company will promptly fulfill information disclosure obligations in accordance with relevant regulations.

● Related risk warnings:

1. There may be a risk that the Company’s stock price during the repurchase period continues to exceed the upper limit of the repurchase price, thereby resulting in the share repurchase plan being unable to be implemented smoothly or only being implemented in part;

2. If material matters occur that have a significant impact on the trading price of the Company’s shares, or other matters occur that lead to the Company’s board of directors deciding to terminate this share repurchase plan, there is a risk that the share repurchase plan will not be implemented smoothly or will be changed or terminated in accordance with relevant regulations;

3. If there are major changes in the Company’s production and operations, financial condition, external objective circumstances, etc., there may be a risk that the share repurchase plan cannot be implemented smoothly or will be changed or terminated in accordance with the rules;

4. Some of the shares to be repurchased under this repurchase are necessary for maintaining the Company’s value and shareholders’ rights and interests. It is planned that such shares will be sold at an appropriate time in the future, and some shares will be used at an appropriate time in the future for equity incentives or employee stock ownership plans. If the Company fails to implement the above purposes within the time limit prescribed by laws and regulations, there is a risk of initiating the cancellation procedure for the portion of shares that has not been transferred;

5. If, in response to subsequent regulations issued by regulatory authorities for listed companies’ share repurchases, new normative documents are issued, leading to a need to adjust the relevant repurchase terms in the process of implementing this share repurchase in accordance with the new regulatory rules, there is a risk that the implementation may be affected.

During the repurchase period, the Company will make share repurchase decisions at suitable times based on market conditions and implement them, and will timely fulfill information disclosure obligations based on the progress of the share repurchase matters. Investors are kindly requested to pay attention to investment risks.

I. Deliberation and implementation procedures for the share repurchase plan

(I) On March 30, 2026, the Company convened the 2026 Second Meeting of the second session of the board of directors, at which it considered and approved the “Proposal on Repurchasing the Company’s Shares by Way of Centralized Competitive Bidding.” All directors attended the meeting, and the proposal was passed with 9 votes in favor, 0 votes against, and 0 votes abstaining.

(II) Pursuant to Article 26 and Article 28 of the “Articles of Association of Suzhou Saimen Technology Co., Ltd.” (hereinafter referred to as the “Articles of Association”), the share repurchase plan may be implemented after it is approved by a board resolution with the attendance of more than two-thirds of the directors, and does not require submission to the shareholders’ meeting for approval.

(III) The timing, procedures, etc. of the above board deliberation comply with relevant provisions of laws, regulations and normative documents, including the “Rules for Share Repurchases of Listed Companies,” the “No. 7 Self-Regulatory Guidance for Listed Companies of the Shanghai Stock Exchange—Share Repurchases” (hereinafter referred to as the “Repurchase Guidance”), and others.

(IV) As of March 23, 2026, the closing price of the Company’s stock was RMB 16.05 per share. Within 20 consecutive trading days, the cumulative decline in the Company’s stock closing prices reached 20%, which meets the condition of “the cumulative decline in the closing prices of the Company’s stock reaching 20% within 20 consecutive trading days” under Paragraph (II) of Article 2, and meets the situation of “necessary for maintaining the Company’s value and shareholders’ rights and interests” under Item (IV) of Paragraph (1) of Article 2 of the “Repurchase Guidance.”

II. Main contents of the share repurchase proposal

The main contents of this share repurchase proposal are as follows:

(I) Purpose of the share repurchase

To maintain the Company’s value and the rights and interests of a broad range of investors, and to promote the Company’s sustainable and sound development, based on confidence in the Company’s future development prospects and recognition of the Company’s value. At the same time, to further establish and improve the Company’s long-term incentive mechanism, attract and retain outstanding talent, and fully mobilize the Company’s employees’ enthusiasm and creativity, after comprehensively considering factors such as the Company’s current operating conditions, financial condition, future profitability capacity, etc., the Company will repurchase part of its shares by way of centralized competitive bidding using its own funds.

(II) Types of shares to be repurchased

The RMB ordinary shares A shares issued by the Company.

(III) Method of share repurchase

Through the stock trading system of the Shanghai Stock Exchange by way of centralized competitive bidding.

(IV) Implementation period of the share repurchase

1. For maintaining the Company’s value, within 3 months from the date the board of directors approves this share repurchase plan; for equity incentives or employee stock ownership plans, within 12 months from the date the board of directors approves this share repurchase plan. During the implementation period, if the Company’s stock is consecutively suspended for more than 10 trading days due to planning any major matter, the repurchase plan will be extended after the resumption of trading of the stock and will be disclosed in a timely manner.

2. If the following conditions are met, the repurchase period shall terminate early:

(1) If during the repurchase period the amount repurchased by the Company reaches the upper limit maximum amount, the implementation of this share repurchase plan shall be completed, and the repurchase period shall terminate early as of that date;

(2) If during the repurchase period the amount repurchased by the Company reaches the lower limit minimum amount, the repurchase period may terminate early from the date the Company decides to terminate this share repurchase plan;

(3) If the board resolution terminates this share repurchase plan, the repurchase period shall terminate early from the date of the board resolution terminating this share repurchase plan.

3. The Company will not repurchase its shares during the following periods:

(1) From the date on which a major matter is expected to have a significant impact on the trading price of the Company’s securities and their derivatives, or from within the decision-making process until the date on which it is disclosed in accordance with law;

(2) Other circumstances stipulated by the CSRC and the Shanghai Stock Exchange.

Within the repurchase plan period approved by this board of directors, if relevant laws, regulations and normative documents change the provisions regarding the above periods during which repurchases are prohibited, the repurchase plan shall be adjusted accordingly in accordance with the latest laws, regulations and normative documents.

(V) Purposes, number of shares, proportion of the Company’s total share capital, and total amount of funds for the repurchase

The proposed number of shares to be repurchased is calculated based on the upper limit repurchase price of RMB 28 per share. The actual number of shares to be repurchased and the proportion of the Company’s total share capital will be determined by the Company’s actual repurchase upon completion of the repurchase or upon expiration of the repurchase implementation period.

If, within the repurchase period, the Company implements corporate actions such as capitalization of capital surplus to increase share capital, distribution of stock dividends, stock splits, share consolidation, or stock allotments, etc., the Company will adjust the number of shares to be repurchased in accordance with relevant requirements of the CSRC and the Shanghai Stock Exchange.

(VI) Price or price range for the share repurchase, and pricing principles

The price for this share repurchase by the Company shall be not more than RMB 28 per share (inclusive). This price shall not exceed 150% of the average trading price of the Company’s shares during the 30 trading days prior to the board’s approval of the share repurchase resolution. The specific repurchase price will be determined by the Company’s management authorized by the board of directors during the implementation period, taking into account the market trading prices of the shares in the secondary market, the Company’s financial condition, and operating condition.

If, within the repurchase period, the Company implements corporate actions such as capitalization of capital surplus to increase share capital, cash dividends, distribution of stock dividends, stock allotments, stock splits, or share consolidation, etc., the Company will adjust the upper limit repurchase price in accordance with the relevant requirements of the CSRC and the Shanghai Stock Exchange.

(VII) Source of funds for the share repurchase

The source of funds for this share repurchase is the Company’s own funds.

(VIII) Expected changes in the Company’s equity structure after the repurchase

(IX) Analysis of potential impacts of this share repurchase on the Company’s day-to-day operations, financials, R&D, profitability, ability to perform debt obligations, future development, and maintaining its listing status, etc.

1. As of September 30, 2025 (unaudited), the Company’s total assets were RMB 1,427,105,125.21, the net assets attributable to shareholders of the listed company were RMB 1,319,690,139.06, and current assets were RMB 858,561,819.92. Based on the upper limit of the repurchase funds of RMB 80M, respectively, these represent 5.61%, 6.06%, and 9.32% of the above financial figures. The repurchase funds will be paid at suitable times during the repurchase period, with some flexibility. Combined with the Company’s business operations and future development plans, the Company believes that this share repurchase will not have a material impact on the Company’s day-to-day operations, financials, profitability, or future development, and the Company has sufficient ability to pay the repurchase price.

2. As of September 30, 2025 (unaudited), the Company’s asset-liability ratio was 6.80%. The funds for this share repurchase come from the Company’s own funds, which will not have a material impact on the Company’s ability to repay its debts.

3. This share repurchase is based on confidence in the Company’s continued sustainable development in the future and recognition of the Company’s value. The repurchased shares will be used to maintain the Company’s value and for equity incentives or employee stock ownership plans. This is conducive to continuously improving the Company’s long-term incentive mechanism, and more closely and effectively aligning shareholders’ interests, the Company’s interests, and employees’ personal interests, thereby promoting the Company’s healthy and sustainable development.

4. After completion of this share repurchase, it will not lead to any change in the Company’s controlling rights. The distribution of equity in the Company after the repurchase meets the requirements for listed companies and will not affect the Company’s listing status.

(X) Whether the listed company’s directors, senior management, controlling shareholder, and actual controller have bought or sold the Company’s shares within the 6 months prior to the board’s resolution to approve the share repurchase; whether there is any statement regarding whether they have engaged in insider trading or market manipulation alone or jointly with others; and the plan for increases/decreases in holdings during the repurchase period

As of the date of disclosure of this announcement, within the 6 months prior to the board’s resolution to approve the share repurchase, none of the Company’s directors, senior management, controlling shareholder, and actual controller have bought or sold the Company’s shares. There is also no conflict of interest with the share repurchase plan, nor has there been any conduct of insider trading or market manipulation. Except that director Zhang Min may have a plan to reduce holdings within the next 3 months and within the next 6 months, the above persons do not have any plan to increase or decrease holdings during the repurchase period. If the above-mentioned persons subsequently have any plans to increase or decrease their holdings of shares, the Company will strictly comply with relevant laws and regulations and promptly fulfill information disclosure obligations.

(XI) Specific information regarding whether the listed company, through inquiry, asked its directors, senior management, controlling shareholder, actual controller and persons acting in concert, and shareholders holding more than 5% of shares, whether there are any specific plans to reduce holdings within the next 3 months and the next 6 months

On January 13, 2026, the Company disclosed on the website of the Shanghai Stock Exchange the “Announcement on the Share Reduction Plan by Shareholders Holding More Than 5% of Shares,” in which it stated that the Company’s shareholder Tonghua High-Tech holding more than 5% of the shares plans to reduce its shares in the Company by no more than 3.00% of the total share capital between February 3, 2026 and May 2, 2026.

The Company’s shareholders Zhou Qingjin and Lu Min, and director Zhang Min, may have a plan to reduce holdings within the next 3 months and within the next 6 months. The Company’s shareholder Shiquan Chengda holding more than 5% of the shares has not yet replied to the Company’s inquiry. Except for the aforementioned shareholders, all other directors and senior management have replied that they have no plan to reduce holdings of the Company’s shares within the next 3 months or within the next 6 months.

If the above-mentioned persons or shareholders in the future intend to implement any share reduction plan, the Company will timely fulfill information disclosure obligations in accordance with relevant regulations.

(XII) Relevant arrangements for lawful cancellation or transfer after the share repurchase

The portion of the shares repurchased for maintaining the Company’s value is planned to be sold by way of centralized competitive bidding after 12 months from the disclosure of the repurchase results and changes in share capital announcement, and the sale shall be completed within 3 years after the disclosure of the repurchase results and changes in share capital announcement. For the portion of the shares repurchased for implementing equity incentives or employee stock ownership plans, the Company will handle the transfer of shares in accordance with relevant laws and regulations.

If the Company fails to implement the above purposes within 3 years after completion of the share repurchase, the unused portion shall be cancelled. The specific implementation will be carried out in accordance with relevant laws, regulations, and policy provisions.

(XIII) Relevant arrangements for the Company to prevent infringement of the interests of creditors

If a circumstance of share cancellation occurs, the Company will, in accordance with relevant provisions such as the “Company Law of the People’s Republic of China,” fulfill statutory procedures such as notifying creditors, to fully protect creditors’ lawful rights and interests.

(XIV) Specific authorization for handling matters related to this share repurchase

To complete the relevant work related to this share repurchase in a smooth, efficient, and orderly manner, the board of directors authorizes the Company’s management to specifically handle the relevant matters of this share repurchase. The scope of authorization includes but is not limited to:

1. Establishing a dedicated securities account for the share repurchase and other related matters;

2. Repurchasing shares at suitable times during the repurchase period, including the specific time, price, and number of shares for the repurchase;

3. Adjusting the specific implementation plan in accordance with relevant provisions and requirements of regulatory authorities, and handling other matters related to the share repurchase;

4. Based on the actual repurchase, revising provisions in the “Articles of Association” and other materials and documents that may be involved in changes, and handling matters such as revisions to the “Articles of Association” and industrial and commercial change registration (if applicable);

5. Handling relevant approval and filing matters, including but not limited to authorizing, signing, executing, revising, and completing all necessary documents, contracts, agreements, etc. related to this share repurchase;

6. If there are changes in regulatory policies regarding share repurchases or changes in market conditions, except for matters that, due to relevant laws, regulations and provisions of the “Articles of Association,” must be re-voted on by the board of directors, the authorization grants the Company’s management to make corresponding adjustments to relevant matters such as the specific plan for this share repurchase;

7. In accordance with applicable laws and regulations and the relevant requirements of regulatory authorities, handling other necessary matters for this share repurchase that are not listed above.

The above authorization shall be effective from the date the board of directors approves the repurchase plan until the date when the authorized matters are completed.

III. Uncertainty risk in the share repurchase proposal

1. There may be a risk that the Company’s stock price during the repurchase period continues to exceed the upper limit of the repurchase price, thereby resulting in the share repurchase plan being unable to be implemented smoothly or only being implemented in part;

2. If material matters occur that have a significant impact on the trading price of the Company’s shares, or other matters occur that lead to the Company’s board of directors deciding to terminate this share repurchase plan, there is a risk that the share repurchase plan will not be implemented smoothly or will be changed or terminated in accordance with relevant regulations;

3. If there are major changes in the Company’s production and operations, financial condition, external objective circumstances, etc., there may be a risk that the share repurchase plan cannot be implemented smoothly or will be changed or terminated in accordance with the rules;

4. Some of the shares to be repurchased under this repurchase are necessary for maintaining the Company’s value and shareholders’ rights and interests. It is planned that such shares will be sold at an appropriate time in the future, and some shares will be used at an appropriate time in the future for equity incentives or employee stock ownership plans. If the Company fails to implement the above purposes within the time limit prescribed by laws and regulations, there is a risk of initiating the cancellation procedure for the portion of shares that has not been transferred;

5. If, in response to subsequent regulations issued by regulatory authorities for listed companies’ share repurchases, new normative documents are issued, leading to a need to adjust the relevant repurchase terms in the process of implementing this share repurchase in accordance with the new regulatory rules, there is a risk that the implementation may be affected.

During the repurchase period, the Company will make share repurchase decisions at suitable times based on market conditions and implement them, and will timely fulfill information disclosure obligations based on the progress of the share repurchase matters. Investors are kindly requested to pay attention to investment risks.

IV. Other matters

(I) Disclosure of holdings of the top 10 shareholders and the top 10 shareholders with unrestricted shares

The Company has disclosed, in the day prior to the announcement of the resolutions of the second meeting of the second session of the board of directors in 2026 (March 30, 2026), the names of the top 10 shareholders and the top 10 shareholders with unrestricted shares registered as of that date, as well as their shareholding amounts and proportions. For details, please refer to the Company’s “Announcement on the Shareholding Situation of the Top Ten Shareholders and the Top Ten Shareholders with Unrestricted Shares Prior to the Repurchase of Shares” (Announcement No.: 2026-008) disclosed on April 3, 2026 on the Shanghai Stock Exchange website (www.sse.com.cn).

(II) Opening of the dedicated securities account for share repurchase

In accordance with relevant regulations, the Company has completed the opening of a dedicated securities account for share repurchase at the Shanghai Branch of China Securities Depository and Clearing Co., Ltd. The specific details are as follows:

Holder name: Dedicated securities account for share repurchases of Suzhou Saimen Technology Co., Ltd.

Securities account number: B888299199

The above account is for the repurchase of the Company’s shares only.

(III) Subsequent information disclosure arrangements

During the repurchase period, the Company will make share repurchase decisions at suitable times based on market conditions and implement them, and will timely fulfill information disclosure obligations based on the progress of the share repurchase matters. Investors are kindly requested to pay attention to investment risks.

This announcement is hereby issued.

Board of Directors of Suzhou Saimen Technology Co., Ltd.

April 4, 2026

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