Announcement on Signing the Framework Agreement for the Supply Chain Information Service System Project with Shanghai Wanxiang Blockchain Co., Ltd. and Related Transactions
Wanxiang Qianchao Co., Ltd. and all members of the board guarantee that the information disclosed is true, accurate, and complete, with no false records, misleading statements, or significant omissions.
I. Overview of Related Transactions
On April 3, 2026, Wanxiang Qianchao Co., Ltd. (hereinafter referred to as "the Company") held the tenth meeting of the tenth board of directors, which approved the proposal to sign the "Framework Agreement for the Supply Chain Information Service System Project" with the related party Shanghai Wanxiang Blockchain Co., Ltd. (hereinafter referred to as "Wanxiang Blockchain") with 4 votes in favor, 0 votes against, and 0 abstentions. The Company will use the supply chain information service system developed by Wanxiang Blockchain to issue Wanaxin (blockchain debt certificates) for payments to upstream suppliers. The amount expected to be issued through the system in 2026 is capped at RMB 4 billion. Since both the Company and Wanxiang Blockchain are ultimately controlled by the same actual controller, Mr. Lu Weiding, this transaction constitutes a related transaction as defined by the "Shenzhen Stock Exchange Stock Listing Rules," but does not constitute a major asset reorganization as defined by the "Administrative Measures for Major Asset Reorganizations of Listed Companies." Related directors abstained from voting, and independent directors provided a review opinion in agreement. This related transaction is subject to approval by the shareholders' meeting, and related parties with a vested interest will abstain from voting.