Fujian Aonong Biotechnology Group Co., Ltd. Announcement on Partial Restricted Stock Circulation

Stock Code: 603363
Stock Name: Aonong Biological
Announcement No.: 2026-015

Fujian Aonong Biological Technology Group Co., Ltd.

Announcement on the Listing and Circulation of Part of the Restricted Shares

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 the authenticity, accuracy, and completeness of its content.

Important Highlights:

● The type of stock being listed this time is other shares (restructuring investment converted shares); the subscription method is offline, with a total of 13,715,834 shares listed.

The total number of shares to be circulated this time is 13,715,834.

● The date of stock listing and circulation this time is March 27, 2026.

I. Type of Restricted Shares Being Listed

Fujian Aonong Biological Technology Group Co., Ltd. (hereinafter referred to as “the Company” or “Aonong Biological”) is listing restricted shares obtained by financial investors during the company’s restructuring.

On November 5, 2024, the Intermediate People’s Court of Zhangzhou City, Fujian Province (hereinafter “Zhangzhou Court” or “the Court”) accepted the creditor’s restructuring application for the company and appointed Shanghai Jintiancheng Law Firm as the company’s administrator (hereinafter “the Administrator”). For details, see the company’s disclosure on November 6, 2024, titled “Announcement on Court Acceptance of Company Restructuring and Appointment of Administrator and the Company’s Stock Being Subjected to Delisting Risk Warning” (Announcement No.: 2024-193).

On December 9, 2024, Zhangzhou Court approved the “Restructuring Plan of Fujian Aonong Biological Technology Group Co., Ltd.” and terminated the restructuring process. For details, see the company’s disclosure on December 11, 2024, titled “Announcement on Court Approval of the Company’s Restructuring Plan” (Announcement No.: 2024-212).

According to the restructuring plan, this restructuring is based on the company’s total share capital of 870,274,742 shares, minus 2,620,800 restricted shares to be repurchased and canceled, resulting in a base of 867,653,942 shares. Capital reserve is converted into share capital at a ratio of 20 shares for every 10 shares, totaling 1,735,307,884 new shares. These newly issued shares are not distributed to original shareholders but are allocated and disposed of according to the restructuring plan: 1,005,000,000 shares are transferred to restructuring investors, and the remaining 730,307,884 shares are used to settle company debts. On December 25, 2024, the company completed the registration of the 1,735,307,884 shares transferred in the restructuring.

On December 27, 2024, the court transferred 847,000,000 shares of restricted circulating stock held in the administrator’s securities account to the restructuring investors’ securities accounts, completing the transfer registration. Among these, 13 financial investors with a lock-up period of 12 months, totaling 447,000,000 shares, have completed their lock-up period and will be listed and traded on December 29, 2025. For details, see the company’s disclosure on December 24, 2025, titled “Announcement on the Listing and Circulation of Part of the Restricted Shares” (Announcement No.: 2025-116).

The 1,005,000,000 shares transferred to restructuring investors, excluding the 847,000,000 shares above, are the remaining 158,000,000 shares, which will be transferred to the implementing entity as per the restructuring plan and the “Restructuring Investment Agreement.” For details, see the company’s disclosure on December 19, 2024, titled “Progress of the Restructuring Implementation of Zhangzhou Aonong Investment Co., Ltd. and Signing of the Restructuring Investment Agreement” (Announcement No.: 2024-215). As of the date of this announcement, the implementing entity has transferred a total of 110,449,767 shares in 7 batches, including: the first batch involving 57 shareholders totaling 90,596,519 shares, of which 55 shareholders holding 84,448,385 shares have been unlocked and will be listed and traded on January 29, 2026; the second batch involving 7 shareholders totaling 13,715,834 shares, with transfer completed on March 27, 2025, with a lock-up period of 12 months (see “Section V. Circulation of Restricted Shares” below). The lock-up period is about to expire, and the shares will be listed and traded on March 27, 2026.

II. Changes in the Company’s Share Capital Since the Formation of These Restricted Shares

On December 25, 2024, after the registration of the share transfer due to the restructuring, the total share capital was 2,605,582,626 shares.

On January 24, 2025, the company completed the repurchase and cancellation of 2,620,800 restricted stock incentive shares, reducing total share capital from 2,605,582,626 to 2,602,961,826 shares. The number of shares subject to the current lock-up release has not changed.

III. Commitments Regarding the Listing and Circulation of the Restricted Shares

1. Commitment on the Lock-up Release of Restricted Shares

Seven shareholders are involved in this lock-up release. They have committed not to transfer or entrust others to manage their directly or indirectly held Aonong Biological shares within 12 months from the date of receiving the restructuring converted shares.

2. Performance of the Commitments

As of the date of this announcement, the seven shareholders have strictly fulfilled their lock-up commitments during the lock-up period, and there are no violations affecting the listing and circulation of these restricted shares.

IV. Intermediary Institution’s Verification Opinion

Guotai Haitong Securities Co., Ltd., the company’s financial advisor, has issued a verification opinion, stating that:

1. The listing and circulation of the restricted shares comply with the “Company Law of the People’s Republic of China,” the “Securities Law of the People’s Republic of China,” the “Shanghai Stock Exchange Listing Rules,” and the “Shanghai Stock Exchange Self-Regulatory Guidelines for Listed Companies No. 13—Bankruptcy and Restructuring,” among other laws and regulations;

2. The number of restricted shares to be released and the timing of listing and circulation are in accordance with relevant laws and regulations;

3. The financial advisor has no objection to the current release of restricted shares.

V. Details of the Listing and Circulation of Restricted Shares

1. The total number of restricted shares to be listed and circulated this time is 13,715,834 shares.

2. The listing and circulation date is March 27, 2026.

3. Details of the restricted shares to be listed and circulated are provided in the list below.

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4. Listing and circulation table of restricted shares.

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VI. Share Capital Structure Changes

Unit: Shares

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This announcement is hereby issued.

Fujian Aonong Biological Technology Group Co., Ltd. Board of Directors

March 24, 2026