Xiaosong Co., Ltd.

Articles of Association (Revised May 2026)

This document outlines the revised Articles of Association for Guangdong Xiaomai Technology Co., Ltd. (KENNEDE ELECTRONICS MFG. CO., LTD.), effective May 2026. The purpose is to establish the company's legal framework, protect shareholder rights, and define its operational scope, including R&D, production, and sales of household appliances and electronics. Key figures include a registered capital of RMB 332,349,876 and establishment date of January 6, 2014. Material outcomes include provisions for capital increases, share issuance, board structures, and comprehensive internal control and risk management systems.

Announcement on Adjusting the Number of Board Members and Revising the Articles of Association

Guangdong Xiaomai Technology Co., Ltd. announced a proposal to adjust its board size from 3 to 5 members, including 3 independent and 2 non-independent directors. This adjustment also involves revising the Articles of Association to reflect the new director count and stipulate that the legal representative must be a director. The proposal requires approval at the upcoming extraordinary general meeting of shareholders.

Announcement on the Appointment of the Secretary of the Board of Directors

Guangdong Xiaomai Technology Co., Ltd. announced the appointment of Ms. Shen Hui as the Secretary of the Board of Directors. The decision was made during the sixth board meeting on May 15, 2026. Ms. Shen's qualifications and experience were deemed suitable for the role. She will officially commence her duties from the date of this announcement.

Notice of the Second Extraordinary Shareholders' Meeting in 2026

Guangdong Xiaomai Technology Co., Ltd. will hold its second extraordinary shareholders' meeting on June 5, 2026. The meeting will discuss proposals including the issuance of shares and amendments to the articles of association regarding the board of directors' size. Shareholders can register by May 29, 2026, and participate via a combination of on-site and online voting. Jiangsu Jiangyin Investment Co., Ltd. is the appointed sponsor.

Announcement on the Resolutions of the 34th Meeting of the 6th Board of Directors

The 34th meeting of the 6th Board of Directors of Guangdong Xiaomai Technology Co., Ltd. was held on May 18, 2026. The board approved amendments to the Articles of Association, reducing the number of directors from 9 to 5 and establishing a special committee. Mr. Xu Tianyu was appointed as the Secretary of the Board. Additionally, the board approved a request for the 2026 Second Interim Shareholders' Meeting, scheduled for June 5, 2026.

Announcement on the Progress of Guarantee Overdue for Related Shareholding Company

Guangdong Xiaomai Technology Co., Ltd. reports a guarantee overdue situation totaling 15.5 million yuan, representing 20.39% of its net assets. This follows a financing guarantee of up to 8 million yuan signed in October 2025. The company is actively managing these overdue guarantees and will cooperate with creditors. It will continue to monitor the situation and disclose relevant developments to investors.

Announcement of Resolutions from the 2025 Shareholders' Meeting

The 2025 Shareholders' Meeting was held on May 8, 2026, with 25.2426% of total shares represented. Key resolutions approved include the 2025 Annual Report, Profit Distribution Plan, Executive Compensation Plan, Director and Supervisor Remuneration Plan, and Share Repurchase Plan. The meeting was legally convened, and all proposals received significant support, indicating shareholder approval of the company's financial and compensation strategies.

Announcement on the Online Performance Briefing for 2025

Guangdong Xiaomai Technology Co., Ltd. will host an online performance briefing on May 20, 2026, to discuss its 2025 fiscal year results. The purpose is to improve investor understanding of the company's financial performance. Key company representatives, including the Chairman, General Manager, and CFO, will be present. A Q&A session will allow investors to submit questions and address concerns about the company's performance.

Announcement on the Resignation of the Board Secretary

Guangdong Xiaomai Technology Co., Ltd. announces the resignation of its Board Secretary, Ms. Liang Yanjun, due to personal reasons. Ms. Liang holds 641,050 shares, including 50,000 from the 2025 stock incentive plan. She will continue as Deputy General Manager. The company will appoint a new Board Secretary as per regulations.

Legal Opinion on Guangdong Xiaosong Technology Co., Ltd. Board's Decision Not to Submit Shareholders' Proposals for Review

This legal opinion addresses the Guangdong Xiaosong Technology Co., Ltd. board's decision not to submit shareholder proposals for the 2025 fiscal year shareholders' meeting. The board, on May 6, 2026, decided against submission, citing that the proposals did not meet regulatory requirements. The legal opinion concludes that the board's decision is compliant with the Company Law and relevant regulations, affirming the board's authority in this matter.

Announcement on the Explanation of Shareholders' Temporary Proposal Not Submitted for Review

Guangdong Xiaomai Technology Co., Ltd. announced that shareholder proposals for the 2026 annual general meeting will not be submitted for review. The Board of Directors and the Shareholders' Meeting determined the proposals do not meet regulatory requirements. Specifically, they lack specific decision-making items and fall outside the scope of reviewable matters. Supplementary documents include a review of a previous meeting and legal opinions.

Announcement on the Board of Directors Receiving Temporary Proposals from Shareholders

Shareholders holding over 1% of Guangdong Xiaomai Technology Co., Ltd. have submitted temporary proposals to the Board of Directors. These proposals focus on evaluating the company's development situation for 2023-2025, including financial management and investment policies, due to significant expected losses in 2024-2025. One proposal also suggests optimizing organizational structure, projecting 1 billion yuan revenue in 2025 versus 2 billion yuan profit in 2023. The board is urged to review these matters and restore shareholder rights by disclosing relevant information.

Announcement on Partial Reduction of Stock Holdings by Directors and Senior Management

Guangdong Xiaomai Technology Co., Ltd. announces that Chairman Lu Baoshan, Vice Chairman Meng Zhenzhen, Vice Chairman Liang Huijuan, and Financial Supervisor Li Xiaodong will reduce their stock holdings due to personal financial needs. The total reduction involves 4,304,425 shares, representing 1.30% of the company's total shares. The reduction will occur via centralized bidding within three months from May 27, 2026, with prices based on market conditions. The company assures compliance and timely disclosure of any significant changes.

Announcement on the Completion of Share Transfer and Change of Control of the Company

This announcement details the completion of a share transfer agreement between Shanghai Huayi Technology Development Co., Ltd. and Guangdong Xiaomai Technology Co., Ltd. The transfer involved 30,737,862 shares, representing 9.25% of the total, for 286,476,873.84 yuan. This transaction, finalized on April 29, 2026, has resulted in a change of the company's controlling shareholder and its actual controller, identified as Liu Minghua.

Announcement on Supplementary Confirmation of Financial Assistance from Actual Controllers and Their Related Parties

Guangdong Xiaomai Technology Co., Ltd. received supplementary financial assistance totaling RMB 8,156.25 million from its actual controller, Liu Lingxuan, and related parties. This assistance, with a repayment date of April 30, 2026, aims to enhance the Company's financial stability and operational capacity. The transaction was approved by the board of directors and confirmed by independent directors to comply with regulations.

Announcement on the Resolutions of the 32nd Meeting of the Sixth Board of Directors

The Board of Directors of Guangdong Xiaomai Technology Co., Ltd. held its 32nd meeting on April 30, 2026. The meeting approved two key proposals. Firstly, it confirmed the company's control and investment relationship with its actual controller, Mr. Zhang, following a change in his status. Secondly, the board approved the company's acceptance of financial assistance from the actual controller and related parties. Both proposals passed with unanimous support from the 8 directors present.

Announcement on Confirming Joint Investment with Controlled Related Enterprises

Guangdong Xiaomai Technology Co., Ltd. is confirming a joint investment with Shanghai Rongguang Investment Co., Ltd., a related party. The total investment is 1,050 million yuan, with the company maintaining a 51.22% share in the joint venture, Shanghai Rongguang Digital Technology Co., Ltd. The joint venture, established in December 2025, has registered capital of 2,050 million yuan. This transaction is expected to have no negative impact on the company.

Announcement on the Resolutions of the 31st Meeting of the Sixth Board of Directors

The 31st meeting of the sixth board of directors of Guangdong Xiaomai Technology Co., Ltd. was held on April 29, 2026. The board approved the "First Quarterly Report of 2026" with 8 votes in favor. The report was found to be accurate, complete, and compliant with all legal and internal requirements.

2026 First Quarter Report

This report details the 2026 first quarter financial performance. Operating income decreased by 43.76% to CNY 186,121,549.84. Net profit attributable to shareholders was a loss of CNY 30,044,664.92, a significant drop from the previous year. Total assets also saw a slight decrease of 4.02% to CNY 1,479,991,730.91.

Announcement on the Confirmation of 2025 Compensation for Directors and Senior Management and the 2026 Compensation Plan

Guangdong Xiaomai Technology Co., Ltd. confirmed the 2025 compensation for its directors and senior management. The board also proposed a compensation plan for 2026. Compensation will be evaluated annually based on performance metrics and adjusted accordingly. The proposal requires approval at the upcoming shareholders' meeting on April 24, 2026.

2025 Annual Report on the Work of Independent Directors (Sun Jinyun)

This report details the work of Independent Director Sun Jinyun in 2025. He attended 12 board and 5 shareholder meetings, focusing on compliance, governance, and financial performance. Key outcomes include approving related party transactions with limits up to 5 million yuan and engaging audit/consulting services. Sun Jinyun committed to upholding independence and shareholder interests in future decision-making.

2025 Annual Report of Independent Director (Song Xiaogang)

This report summarizes the work of Song Xiaogang, an independent director of Guangdong Xiaomai Technology Co., Ltd., for 2025. The purpose is to reflect the director's role in corporate governance and decision-making. Key figures include participation in all 12 board meetings and 5 shareholder meetings. Material outcomes involve upholding independence and integrity to protect shareholder interests, alongside contributions to committee work and management communication.

Internal Control Audit Report of Guangdong Xiaosong Technology Co., Ltd.

This report details an audit of Guangdong Xiaosong Technology Co., Ltd.'s financial internal controls as of December 31, 2025. The audit was conducted according to the "Guidelines for Internal Control Audits of Enterprises." The company is responsible for establishing and maintaining effective internal controls. The audit concluded that Xiaosong Technology's financial statements contain significant issues regarding the effectiveness of its internal controls.

2025 Internal Control Evaluation Report

This report evaluates the effectiveness of Guangdong Xiaomai Technology Co., Ltd.'s internal control system as of December 31, 2025. The company acknowledges deficiencies and the need to strengthen its internal control system. The evaluation covered key units and business areas like organizational structure, human resources, and financial management. While the establishment and implementation of controls are deemed effective, the company will take measures to address identified weaknesses.

Compensation Management System for Directors and Senior Management of Guangdong Xiaosong Technology Co., Ltd. (April 2026)

Guangdong Xiaosong Technology Co., Ltd. has established a new compensation management system for its directors and senior management, effective April 2026. The system aims to create a fair and reasonable salary distribution mechanism aligned with sustainable development. Key principles include fairness, performance-based compensation, and alignment with long-term goals. The compensation committee, formed by the board of directors, will review and approve compensation plans, which will be based on company performance, market conditions, and individual responsibilities.

Announcement on Company’s Uncovered Losses Reaching One-Third of Total Paid-in Capital

Guangdong Xiaomai Technology Co., Ltd. announced that its uncovered losses reached one-third of its total paid-in capital as of December 31, 2025. The company reported uncovered losses of ¥299,032,383.61 against paid-in capital of ¥332,349,876. This situation, arising from reduced core business revenue and significant project operational costs, requires submission to the general meeting. The company plans to optimize its business structure, strengthen financial management, and enhance innovation to mitigate losses and improve profitability.

Announcement on Provision for Impairment in 2025

Guangdong Xiaomai Technology Co., Ltd. announces its intention to make provisions for asset impairments totaling CNY 13,125.84 million as of December 31, 2025. This includes CNY 6,940.46 million for credit impairment (receivables, other receivables, notes receivable) and CNY 6,185.38 million for asset impairment (inventory, joint assets, fixed assets, intangible assets, investments, other assets). This provision is expected to reduce the company's net profit for the year by the same amount.