Shanghai Waigaoqiao Group Co., Ltd. Announcement on Redemption of Idle Raised Funds for Cash Management

Securities Code: 600648, 900912
Securities Abbreviation: Waigaoqiao, Waigao B-shares
Announcement No.: Lin 2026-004

Shanghai Waigaoqiao Group Co., Ltd.

Announcement on Using Idle Raised Funds for Cash Management and Redemption

The company’s board of directors and all directors guarantee that the content of this announcement is free from any false records, misleading statements, or major omissions, and assume legal responsibility for its truthfulness, accuracy, and completeness.

Shanghai Waigaoqiao Group Co., Ltd. (hereinafter referred to as “the Company”) held the 13th meeting of the 11th Board of Directors and the 7th meeting of the 11th Supervisory Committee on July 21, 2025. The meetings reviewed and approved the “Proposal on Using Temporarily Idle Raised Funds for Cash Management,” agreeing that the company may, without affecting the investment project construction needs of the raised funds, and without impacting normal production and operations or compromising the safety of related funds, use up to 503 million yuan of idle raised funds for cash management. The company may purchase high-security, highly liquid principal-protected financial products or deposit products, with a term valid within 12 months from the date of board approval. During the validity period, the above amount can be used in a rolling manner. The sponsor has no objection to the company’s use of temporarily idle raised funds for cash management. For detailed information, please refer to the company’s announcement titled “Announcement on Using Temporarily Idle Raised Funds for Cash Management” published on July 22, 2025 (Announcement No.: Lin 2025-034).

1. Redemption Status of Cash Management Using Raised Funds

On September 15, 2025, the company’s controlling subsidiary, Shanghai Waigaoqiao Free Trade Zone United Development Co., Ltd., purchased structured deposits worth 8 million yuan at the Industrial and Commercial Bank of China (ICBC) Shanghai Free Trade Zone Branch using idle raised funds; on December 5, 2025, the company’s controlling subsidiary, Shanghai Waigaoqiao Free Trade Zone Siliang Development Co., Ltd., purchased structured deposits worth 100 million yuan at China Everbright Bank Shanghai Branch using idle raised funds; on December 22 and December 23, 2025, the company’s controlling subsidiary, Shanghai Waigaoqiao Free Trade Zone New Development Co., Ltd., purchased structured deposits of 40.29 million yuan and 38.71 million yuan respectively at Bank of China. As of the date of this announcement, all aforementioned structured deposits have matured and been redeemed, with a total principal of 187 million yuan and an actual return of 811,000 yuan. All principal and returns have been fully returned to the raised funds special account. The specific redemption details are as follows:

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2. Overall Situation of Idle Raised Funds Cash Management

The products purchased by the company using idle raised funds have no overdue or unrecovered cases. As of the date of this announcement, the company’s cash management of raised funds over the past 12 months is as follows:

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This announcement is hereby made.

Shanghai Waigaoqiao Group Co., Ltd.

March 20, 2026