Stock Code: 001382 Stock Abbreviation: New Asia Cable Announcement No.: 2026-014 Guangdong New Asia Electric Cable Co., Ltd. Announcement on Opening of Capital Raising Fund Escrow Account and Signing of Tripartite Supervision Agreement The Company and the Board of Directors guarantee that the information disclosed is true, accurate, and complete, and contains no false representations, misleading statements, or material omissions. Guangdong New Asia Electric Cable Co., Ltd. (hereinafter referred to as the "Company") held the 16th meeting of the Second Board of Directors on April 17, 2026, and reviewed and approved the "Proposal on Using Part of the Idle Raised Capital to Temporarily Supplement Working Capital." The Company agreed to use no more than RMB 180 million of idle raised capital to temporarily supplement working capital for a period not exceeding 12 months from the date of approval by the Board of Directors. Concurrently, the Company's Board of Directors authorized the management to handle the opening of the special escrow account for raised capital and the signing of the raised capital supervision agreement. For details, please refer to the "Announcement on Using Part of the Idle Raised Capital to Temporarily Supplement Working Capital" (Announcement No.: 2026-011) disclosed by the Company on the designated information disclosure media on April 21, 2026. On April 30, 2026, the Company, together with its sponsor GF Securities Co., Ltd. and China CITIC Bank Co., Ltd. Qingyuan Branch, signed the "Tripartite Supervision Agreement for Raised Capital." The details are hereby announced as follows: I. Basic Situation of Raised Capital According to the "Approval on Guangdong New Asia Electric Cable Co., Ltd.'s Initial Public Offering of Shares" (Zhengjian Permit (2025) No. 35) issued by the China Securities Regulatory Commission, the Company was approved to publicly issue 62,000,000.00 ordinary shares of RMB 1.00 par value each at an issue price of RMB 7.40 per share. The total raised capital was RMB 458,800,000.00. After deducting issuance expenses of RMB 58,087,213.69 (excluding VAT), the net amount of raised capital is RMB 400,712,786.31. The aforementioned raised capital was received on March 17, 2025. Rongcheng Certified Public Accountants (Special General Partnership) audited the capital verification for the Company's new share issuance and issued the "Capital Verification Report" (Rongcheng Yan Zi [2025] 518Z0032) on March 17, 2025. II. Opening of Raised Capital Escrow Account and Signing of Raised Capital Supervision Agreement To regulate the deposit, use, and management of the Company's raised capital and protect investors' interests, in accordance with the "Supervision Rules for Raised Capital of Listed Companies," "Shenzhen Stock Exchange Listed Company Self-Regulatory Management Guidelines No. 1 - Main Board Listed Company Normative Operation," and other relevant laws and regulations, on April 30, 2026, the Company, its sponsor GF Securities Co., Ltd., and China CITIC Bank Co., Ltd. Qingyuan Branch signed the "Tripartite Supervision Agreement for Raised Capital." The details of the opened special account for raised capital are as follows:
| Account Opening Entity | Bank | Account Number | Use of Raised Capital |
|---|---|---|---|
| Guangdong New Asia Electric Cable Co., Ltd. | China CITIC Bank Co., Ltd. Qingyuan Branch | 2018020129200424289 | Temporarily supplement working capital |
| Note: The handling branch is the Business Department of China CITIC Bank Co., Ltd. Qingyuan Branch. | |||
| III. Main Contents of the "Tripartite Supervision Agreement for Raised Capital" | |||
| Party A: Guangdong New Asia Electric Cable Co., Ltd. (hereinafter referred to as Party A) | |||
| Party B: China CITIC Bank Co., Ltd. Qingyuan Branch (hereinafter referred to as Party B) | |||
| Party C: GF Securities Co., Ltd. (Sponsor) (hereinafter referred to as Party C) | |||
| I. Party A has opened a special account for raised capital (hereinafter referred to as the "Special Account") with Party B. This Special Account shall only be used for the deposit and use of raised capital and shall not be used for any other purpose. | |||
| II. Party A and Party B shall jointly comply with the "Law of the People's Republic of China on Negotiable Instruments," "Measures for Payment and Settlement," "Administrative Measures for RMB Bank Settlement Accounts," and other laws, regulations, and rules. Party A shall comply with the "Shenzhen Stock Exchange Listed Company Self-Regulatory Management Guidelines No. 1 - Normative Operation of Main Board Listed Companies" and other regulations, as well as the Company's raised capital management system. | |||
| III. As Party A's sponsor, Party C shall, in accordance with relevant regulations, designate sponsor representatives or other staff to supervise the use of Party A's raised capital. Party C shall fulfill its supervisory responsibilities in accordance with the "Shenzhen Stock Exchange Listed Company Self-Regulatory Management Guidelines No. 1 - Normative Operation of Main Board Listed Companies" and Party A's raised capital management system, and may exercise its supervisory rights through on-site investigations, written inquiries, and other methods. Party A and Party B shall cooperate with Party C's investigations and inquiries. Party C shall conduct on-site inspections of the deposit and use of Party A's raised capital semi-annually. Party A shall strictly manage and use the raised capital in accordance with relevant regulations and approval procedures, and establish accounting records for the use of each portion of raised capital (including but not limited to approval documents, bank transfer vouchers, company accounting vouchers, etc.). | |||
| IV. Party A hereby authorizes the sponsor representatives designated by Party C, Wang Zhihong and Cheng Yan, to inquire about and copy the information in Party A's Special Account at any time from Party B. Party B shall promptly, accurately, and completely provide Party C with the relevant information regarding the Special Account. When sponsor representatives inquire about Party A's Special Account information from Party B, they shall present their valid identification documents. When other staff designated by Party C inquire about Party A's Special Account information from Party B, they shall present their valid identification documents and company introduction letters. | |||
| V. Party B shall provide Party A with a monthly statement (before the 10th of each month) and shall also send a copy to Party C. Party B shall ensure that the content of the statement is true, accurate, and complete. | |||
| VI. If the amount withdrawn by Party A from the Special Account in a single instance or within twelve months exceeds RMB 50 million or 20% of the net raised capital (determined by the lower of the two), Party A and Party B shall promptly notify Party C via email and provide a statement of expenditures from the Special Account. | |||
| VII. Party C has the right to replace its designated sponsor representatives in accordance with relevant regulations. If Party C replaces its sponsor representatives, it shall notify Party B in writing with relevant supporting documents and, in accordance with Article 12 of this Agreement, notify the contact information of the replaced sponsor representatives in writing. The replacement of sponsor representatives shall not affect the validity of this Agreement. | |||
| VIII. If Party B fails to provide Party A with a statement or notify Party C of a large withdrawal from the Special Account three times, or fails to cooperate with Party C's investigation of the Special Account, Party A or Party C may request Party A to unilaterally terminate this Agreement and cancel the Special Account for raised capital. Party A shall promptly determine a new Special Account for raised capital and shall sign a new tripartite supervision agreement with the bank opening the new Special Account and Party C within one month from the date of termination of this Agreement, and make a timely announcement. | |||
| IX. This Agreement shall come into effect from the date of signing by the legal representatives or their authorized representatives of Party A, Party B, and Party C, and affixing their respective company seals. It shall become invalid upon the complete expenditure of funds in the Special Account and its legal closure. | |||
| X. This Agreement is made in six copies, with Party A, Party B, and Party C each holding one copy. One copy shall be filed with the Shenzhen Stock Exchange and the Guangdong Regulatory Bureau of the China Securities Regulatory Commission, and the remainder shall be kept by Party A for its use. Party A shall, in accordance with relevant regulations, promptly announce the main contents of this Agreement after its signing. | |||
| XI. The parties to this Agreement shall strictly abide by the laws of the People's Republic of China on anti-commercial bribery and shall not solicit, accept, provide, or give any benefits outside the scope of this Agreement to each other, third parties, or the actual controllers, shareholders, directors, supervisors, senior management personnel, agents, or other related personnel of the other party or third parties, including but not limited to explicit or implicit kickbacks, cash, gift cards, physical goods, securities, travel, or other non-material benefits. | |||
| IV. Documents for Reference |
- "Tripartite Supervision Agreement for Raised Capital" Hereby announced. Board of Directors of Guangdong New Asia Electric Cable Co., Ltd. May 6, 2026