Announcement on Provision for Asset Impairment and Credit Impairment for 2025

Stock Code: 002354 Stock Abbreviation: Tianyv Digital Technology Number: 2026-010 Tianyv Digital Technology Group Co., Ltd. Announcement on Provision for Asset Impairment and Credit Impairment for 2025 The Company and all members of the Board of Directors guarantee that the information disclosed is true, accurate, and complete, and contains no false records, misleading statements, or significant omissions. Tianyv Digital Technology Group Co., Ltd. (hereinafter referred to as the "Company") has, in accordance with the "Enterprise Accounting Standards," "Shenzhen Stock Exchange Listed Company Self-Regulatory Management Guidelines No. 1 - Normative Operation of Main Board Listed Companies," and other relevant regulations, conducted a comprehensive review and impairment test of various assets as of the end of 2025 to more truthfully and accurately reflect the Company's asset status and operating results as of December 31, 2025. The Company hereby announces the matters related to the provision for asset impairment and credit impairment as follows: I. Situation of Provision for Asset Impairment and Credit Impairment This Time

1. Reason for Provision for Asset Impairment and Credit Impairment This Time In accordance with the "Enterprise Accounting Standards" and the Company's accounting policies, to more truthfully and accurately reflect the Company's asset status and operating results as of December 31, 2025, the Company conducted a comprehensive review and impairment test of various assets as of the end of 2025 and made corresponding impairment provisions for assets with impairment indicators as of December 31, 2025.
2. Total Amount of Provision for Asset Impairment and Credit Impairment This Time and the Reporting Period to Which It Is Included After a comprehensive review and impairment test of assets with potential impairment indicators as of the end of 2025 by the Company and its subsidiaries, the total provision for asset impairment and credit impairment for 2025 is RMB 172.6933 million, which is included in the reporting period of 2025. The specific situation of the provision for asset impairment and credit impairment is as follows:

Note: The amount of "Other Changes" in the provision for inventory price decline this year is mainly due to the disposal of the holding subsidiary, Matsulori Co., Ltd. 3. Specific Situation of Provision for Asset Impairment and Credit Impairment This Time (1) Accounts Receivable and Other Receivables The Company individually determines the expected credit loss for accounts receivable for which there is sufficient evidence to reasonably assess the expected credit loss at the individual instrument level. When there is insufficient evidence to reasonably assess the expected credit loss at the individual instrument level, the Company classifies accounts receivable into several portfolios based on credit risk characteristics, considering historical credit loss experience, current conditions, and judgment on future economic conditions, and calculates the expected credit loss based on the portfolios. After testing, the amount of credit impairment provision for accounts receivable and other receivables in 2025 is RMB 9,828.75 million. The Company writes off assets for which actual losses are confirmed. The amount of accounts receivable and other receivables written off this period is RMB 3,039.33 million. (2) Inventory At the end of the period, after a comprehensive review of inventory, the provision for inventory price decline is made or adjusted based on the lower of inventory cost and net realizable value. For inventory such as finished products, inventory goods, and materials for sale, which are directly for sale, the net realizable value is determined based on the estimated selling price minus estimated selling expenses and related taxes and fees in the normal production and operation process. For materials that require processing, the net realizable value is determined based on the estimated selling price of the finished product minus the estimated costs to complete, estimated selling expenses, and related taxes and fees in the normal production and operation process. For inventory held to fulfill sales contracts or service contracts, the net realizable value is calculated based on the contract price. If the quantity of inventory held exceeds the quantity for sale, the net realizable value of the excess inventory is calculated based on the general sales price. The provision for inventory price decline is made for each inventory item at the end of the period; however, for inventory with large quantities and low unit prices, the provision for inventory price decline is made by inventory category; for inventory related to product series produced and sold in the same region, with the same or similar end-use or purpose, and which is difficult to measure separately from other items, the provision for inventory price decline is made in a consolidated manner. If the factors that caused the previous reduction in inventory value have disappeared, the amount of the reduction is restored and reclassified within the original provision for inventory price decline, and the reclassified amount is included in current profit or loss. After impairment testing, the Company made a provision for inventory price decline of RMB 42.35 million in 2025. The total amount of write-off and reduction this period is RMB 507.77 million, of which RMB 109.43 million is due to inventory scrap and damage write-off, and RMB 398.34 million is due to disposal of subsidiaries. (3) Long-term Equity Investments, Goodwill, and Other Non-current Assets In accordance with the "Enterprise Accounting Standards No. 8 - Asset Impairment," enterprises shall determine at the balance sheet date whether there are any signs of asset impairment. If there are signs of asset impairment, the recoverable amount shall be estimated. The Company's investee companies and holding subsidiaries in previous years are mainly involved in game development, game operation and distribution, advertising and marketing, film and television, and other industries. The Company conducts impairment calculations for them every year and hires professional appraisal institutions to provide appraisal consulting services. The Company hires professional appraisal institutions to provide valuation consulting services for the recoverable amount of the asset group related to the equity of investee companies and the goodwill of holding subsidiaries, thereby determining the recoverable amount of the equity investments held by the Company. In 2025, due to the insufficient profitability and sustainable operating capacity of some companies, impairment indicators exist. The Company has sorted out the invested companies in accordance with the "Enterprise Accounting Standards No. 8 - Asset Impairment" and, based on existing information and a rigorous attitude, has determined the recoverable amount of related assets based on the calculation results. As of December 31, 2025, the carrying amount of the Company's long-term equity investments was RMB 257,889.64 million, the carrying amount of goodwill was RMB 320,792.76 million, and the carrying amount of other non-current assets was RMB 6,716.23 million. After calculation, the recoverable amount of long-term equity investments is RMB 5,137.50 million, the recoverable amount of goodwill is RMB 49,904.22 million, and the recoverable amount of other non-current assets is RMB 0.00 million. The balance of the provision for impairment of long-term equity investments in 2025 is RMB 252,752.15 million, of which the provision for impairment of long-term equity investments made in 2025 is RMB 2,582.57 million. The balance of the provision for impairment of goodwill in 2025 is RMB 270,888.54 million, of which the provision for impairment of goodwill made in 2025 is RMB 4,498.06 million. The balance of the provision for impairment of other non-current assets in 2025 is RMB 6,716.23 million, of which the provision for impairment of other non-current assets made in 2025 is RMB 371.60 million. 4. Deliberation Procedures for Provision for Asset Impairment and Credit Impairment This Time The provision for asset impairment and credit impairment this time has been deliberated and approved by the Fifth Meeting of the Seventh Board of Directors. The proposal for the provision for asset impairment and credit impairment this time will be submitted to the shareholders' meeting for deliberation. II. Impact of Provision for Asset Impairment and Credit Impairment This Time on the Company The total provision for asset impairment and credit impairment for 2025 is RMB 172.6933 million. It is expected to reduce the total profit of the consolidated financial statements for 2025 by RMB 172.6933 million, and this impact has been reflected in the Company's 2025 financial report. III. Opinion of the Board of Directors' Audit Committee The provision for asset impairment and credit impairment for 2025 complies with the "Enterprise Accounting Standards" and the Company's relevant accounting policies and regulations. The decision-making procedures are legal, and it can more objectively and fairly reflect the Company's asset status and operating results, which is conducive to providing investors with more reliable financial information. Therefore, the Audit Committee agrees with the provision for asset impairment and credit impairment this time. IV. Opinion of the Board of Directors The provision for asset impairment and credit impairment this time is carried out in accordance with the "Enterprise Accounting Standards" and relevant regulations, adheres to the principle of prudence, can more fairly reflect the Company's financial status, asset value, and operating results, and makes the Company's accounting information more true and reliable, and more reasonable. Therefore, the Board of Directors agrees with the provision for asset impairment and credit impairment this time. V. Documents for Reference

1. Resolution of the Fourth Meeting of the Audit Committee of the Seventh Board of Directors of the Company;
2. Resolution of the Fifth Meeting of the Seventh Board of Directors of the Company. Hereby announced. Board of Directors of Tianyv Digital Technology Group Co., Ltd. April 20, 2026