Announcement on Expiration and Implementation of Share Reduction Plan by Shareholder Holding Over 5% and Its Concerted Parties

Securities Code: 002300 Securities Abbreviation: Sun Cable Announcement Number: 2026-010 Fujian Nanping Sun Cable Co., Ltd. Announcement on Expiration and Implementation of Share Reduction Plan by Shareholder Holding Over 5% and Its Concerted Parties The shareholder Xiamen Xiangyu Group Co., Ltd. and its concerted parties guarantee that the information provided to this company is true, accurate, and complete, without any false records, misleading statements, or material omissions. This company and all members of the board of directors guarantee that the content of the announcement is consistent with the information provided by the information disclosure obligor. Fujian Nanping Sun Cable Co., Ltd. (hereinafter referred to as the "Company") disclosed on December 5, 2025, in the designated information disclosure media "China Securities Journal," "Securities Daily," "Securities Times," "Shanghai Securities News," and Giant Information Network (www.cninfo.com.cn) the "Announcement on Pre-disclosure of Share Reduction Plan by Shareholder Holding Over 5% and Its Concerted Parties" (Announcement Number: 2025-056). The Company's shareholder holding over 5%, Xiamen Xiangyu Group Co., Ltd. (hereinafter referred to as "Xiangyu Group"), and its concerted party, Boshi Capital - Xiamen Xiangyu Group Co., Ltd. - Boshi Capital Bochuang No. 15 Single Asset Management Plan, planned to reduce its shares by no more than 21,670,011 shares (accounting for 3% of the company's total share capital) through centralized bidding and block trading within three months from the date of disclosure of the announcement (December 26, 2025, to March 25, 2026). Among them, the total number of shares reduced through centralized bidding shall not exceed 1% of the company's total share capital. On December 31, 2025, the Company disclosed the "Notice on Shareholder Holding Over 5% and Its Concerted Parties Reducing Shares Reaching an Integer Multiple of 5% and Indicating Change in Equity" (Announcement Number: 2025-059) and the "Simplified Report on Change in Equity." From December 26 to December 30, 2025, Xiangyu Group reduced its shares by 5.056341 million shares through centralized bidding, accounting for 0.7% of the company's total share capital. Before this reduction, Xiangyu Group and its concerted parties held a combined 15.7% of the company's shares; after this reduction, Xiangyu Group and its concerted parties held a combined 15% of the company's shares. On January 16, 2026, the Company disclosed the "Announcement on Shareholder Holding Over 5% and Its Concerted Parties Reducing Shares Reaching an Integer Multiple of 1%" (Announcement Number: 2026-001). From January 8 to January 14, 2026, Xiangyu Group reduced its shares by 21.66955 million shares through centralized bidding; it reduced its shares by 5.104 million shares through block trading, accounting for 1.01% of the company's total share capital. Before this reduction, Xiangyu Group and its concerted parties held a combined 15% of the company's shares; after this reduction, Xiangyu Group and its concerted parties held a combined 13.99% of the company's shares. The Company recently received a "Letter of Notification on the Expiration of the Share Reduction Plan and the Implementation Results" from Xiangyu Group. As of March 25, 2026, the period for this share reduction plan has expired. The specific share reduction situation is as follows: I. Shareholder Share Reduction

1. Shareholder Share Reduction Details