Announcement on Signing a Major Contract for Computing Power Business Operations

Securities Code: 002348 Securities Abbreviation: High Leap Stock Announcement No.: 2026-077 Guangdong High Leap Co., Ltd.

Announcement on Signing a Major Contract for Computing Power Business Operations

The Company and the Board of Directors guarantee the truthfulness, accuracy, and completeness of the contents of this announcement, and that there are no false records, misleading statements, or significant omissions therein.

Special Reminder:

1. Impact on the Company's Operating Results This contract is a service contract for a computing power project. The total amount stipulated in the contract is to be executed over five years. There is a risk of decreased customer demand, unstable revenue, and failure to meet performance targets. This does not constitute a performance commitment or forecast. The degree of impact on the Company's performance in future years remains highly uncertain. The specific situation will be subject to the revenue confirmed by the company's audited financial statements.

2. Performance Risk The counterparty was established in 2025, has 3 social security contributors, and has no paid-in capital, posing a risk of uncertainty regarding the counterparty's ability to perform. During the execution of the contract, there are significant uncertainties or risks related to laws, regulations, policies, performance capabilities, technology, and markets. Additionally, risks may arise from major changes in the external macroeconomic environment, sudden unexpected events, and other force majeure factors, leading to delayed performance, extended performance periods, or complete or partial inability to perform.

3. Procurement and Delivery Risk The performance of this contract involves the procurement of equipment and other raw materials. The Company has currently secured approximately 50% of the equipment and raw materials. The remaining 50% of equipment and raw materials face risks of significant uncertainty in sourcing, significant fluctuations in procurement prices, and delayed delivery. The Company may face risks of inability to collect payments on time, increased costs, and liability for damages.

4. Funding Risk The initial investment in equipment for this project is substantial. The sources of project funding are: first, equity incentive payments and bank deposits, not exceeding RMB 200 million, as self-owned funds; second, credit lines from financial institutions/finance lease loans, not exceeding RMB 2.5 billion. Relevant financing has not yet been fully finalized through signing of definitive legal documents, posing risks of financing approval failure, insufficient credit lines, and mismatch between withdrawal timing and equipment delivery. Concurrently, the Company's interest-bearing debt will increase significantly, with the asset-liability ratio expected to rise from 41.74% at the end of the first quarter to approximately 70%.

5. Personnel Risk The computing power services business relies heavily on personnel and technical staff with experience in operating computing power services. The Company currently has 13 employees and plans to recruit an additional 8-15 people. As a new entrant, if the core technical team recruitment falls short or the turnover rate is too high, the Company will face a risk of technical personnel shortage.

6. Cross-Industry Risk This contract constitutes cross-industry operations. Management's understanding of the technological iteration and customer demand in the computing power industry may lag or be misjudged, increasing operational and compliance risks.

7. Other Risks The current computing power leasing industry is in a period of rapid capacity expansion. Leading cloud vendors and emerging computing power service providers are all increasing their investment. Fierce competition may lead to a continuous decline in market service fees. However, due to high financing costs, the Company has very limited room for price reduction, leading to squeezed gross profit margins. Investors are kindly reminded to pay attention to investment risks.