2026 Prospectus for the Issuance of A-Shares to Specific Targets (Draft for Declaration)

Stock Abbreviation: Chuanrun Shares

Stock Code: 002272

Sichuan Chuanrun Co., Ltd.

2026 Prospectus for the Issuance of A-Shares to Specific Targets

(Draft for Declaration)

Sponsor (Lead Underwriter)

China Securities Co., Ltd.

August 2026

Important Notice

The Company specifically reminds investors to carefully read the entire content of "Chapter VI: Risk Factors Related to This Issuance" in this prospectus before making investment decisions, and to pay special attention to the following matters.

1. The relevant matters for this issuance of shares to specific targets have been deliberated and approved at the eighth meeting of the seventh session of the Board of Directors and the second extraordinary general meeting of shareholders in 2026. According to relevant laws and regulations, this issuance is subject to the review and approval of the Shenzhen Stock Exchange and the registration consent of the China Securities Regulatory Commission (CSRC) before it can be implemented.

2. The target of this issuance is no more than 35 specific investors, including securities investment fund management companies, securities companies, trust companies, finance companies, insurance institutional investors, qualified foreign institutional investors, and other legal persons, natural persons, or other institutional investors that meet the requirements of the CSRC and relevant laws and regulations. Securities investment fund management companies, securities companies, qualified foreign institutional investors, and RMB qualified foreign institutional investors that subscribe for shares with two or more products under their management shall be regarded as one issuer. Trust companies acting as issuers may only subscribe with their own funds.

3. The pricing base date for this issuance of shares to specific targets is the first day of the issuance period. The issue price shall not be lower than 80% of the average trading price of the company's shares for the 20 trading days preceding the pricing base date (average trading price for the 20 trading days preceding the pricing base date = total trading volume of shares for the 20 trading days preceding the pricing base date / total trading volume of shares for the 20 trading days preceding the pricing base date). If the company's shares are subject to ex-rights or ex-dividend matters such as dividend distribution, bonus shares, or capitalization of capital reserves between the pricing base date and the issuance date, the issue price will be adjusted accordingly.

4. The number of shares to be issued to specific targets will be determined by dividing the total amount of raised funds by the issue price, and shall not exceed 30% of the company's total share capital before this issuance, i.e., not more than 145,463,190 shares (inclusive). The final number of shares to be issued will be determined by the Board of Directors in consultation with the sponsor (lead underwriter) based on the authorization of the general meeting of shareholders and the actual situation at the time of issuance, after the issuance is approved by the Shenzhen Stock Exchange and registered by the CSRC.

If the company experiences ex-rights matters such as bonus shares or capitalization of capital reserves, or changes in total share capital due to share repurchases or equity incentives between the date of the board resolution on this issuance and the issuance date, the upper limit of the number of shares to be issued will be adjusted accordingly.

1. The total amount of funds raised from this issuance shall not exceed 950 million RMB (inclusive). The net proceeds after deducting issuance expenses will be used for the following projects: