Announcement on Accumulated Non-Major Litigation and Arbitration Matters

Zhejiang Zheshang Development Group Co., Ltd.

Announcement on Accumulated Non-Major Litigation and Arbitration Matters

The Company and all members of the Board of Directors guarantee the content of this information disclosure is true, accurate, and complete, and that there are no false records, misleading statements, or major omissions.

Zhejiang Zheshang Development Group Co., Ltd. (hereinafter referred to as the "Company") has compiled statistics on non-major litigation and arbitration matters that have occurred and have not been disclosed by the Company and its holding subsidiaries within the twelve months prior, in accordance with the "Shenzhen Stock Exchange Stock Listing Rules." The relevant statistical information is hereby announced as follows:

I. Basic Situation of Accumulated Non-Major Litigation and Arbitration Matters

In accordance with the "Shenzhen Stock Exchange Stock Listing Rules," litigation and arbitration matters involving the Company shall be calculated on a cumulative basis over twelve months. As of the date of this announcement, the total amount involved in undisclosed non-major litigation and arbitration matters involving the Company and its holding subsidiaries within the twelve months prior is approximately RMB 81,814.84 million, accounting for 12.09% of the company's most recent audited net assets. Please refer to the attachment "Statistical Table of Accumulated Litigation and Arbitration Cases" for details.

II. Other Undisclosed Litigation and Arbitration Matters

Apart from the aforementioned litigation and arbitration cases, there are no other litigation or arbitration matters involving the Company and its holding subsidiaries that should be disclosed but have not been disclosed.

III. Potential Impact of the Litigation and Arbitration Announced This Time on the Company's Current or Subsequent Profits

In the litigated cases announced this time, the Company, as the plaintiff, requests the other party to pay contract amounts, deliver goods, and bear guarantee responsibilities. The primary purpose of these lawsuits is to require the other party to fulfill its obligations through legal means, safeguarding the legitimate rights and interests of the Company and its shareholders. The "litigation amount" involved in cases where the Company is a defendant or a third party is only the plaintiff's unilateral claim and does not represent the actual payment obligations the Company needs to bear. The Company will respond actively and prudently.

Most of the litigated cases are currently under trial. The Company is actively advancing litigation and arbitration procedures, and the impact on the Company's current or subsequent profits is uncertain. The Company will make corresponding accounting treatments in accordance with accounting standards and the progress of litigation (arbitration), which will be subject to the Company's audited financial reports. As of the date of this announcement, the Company has accrued a provision for impairment of RMB 8,417.66 million for these litigated cases. The Company's current production and operation are normal, and the litigation and arbitration matters will not have a significant impact on the Company's ability to continue operating.

The Company will continue to pay attention to the subsequent progress of relevant litigation and arbitration cases, actively take relevant measures to protect the legitimate rights and interests of the Company and its shareholders, and fulfill information disclosure obligations in a timely manner in strict accordance with the requirements of the "Shenzhen Stock Exchange Stock Listing Rules." Investors are advised to invest rationally and pay attention to investment risks.

IV. Documents for Inspection

Litigation documents, arbitration applications, acceptance (defense) notices, or summons, etc.

Hereby announced.

The Board of Directors of Zhejiang Zheshang Development Group Co., Ltd.

August 5, 2026

Attachment: "Statistical Table of Accumulated Litigation and Arbitration Cases"