Stock Code: 002372 Stock Abbreviation: Weixing New Material Announcement No.: 2026-013 Zhejiang Weixing New Material Co., Ltd. Announcement on Changes to Accounting Policies Zhejiang Weixing New Material Co., Ltd. (hereinafter referred to as the "Company") and all members of the Board of Directors guarantee that the information disclosed is true, accurate, and complete, with no false records, misleading statements, or major omissions. Special Reminder: This change in accounting policies will not have a material impact on the Company's financial status, operating results, and cash flows. On April 1, 2026, the Second Meeting of the Seventh Board of Directors reviewed and approved the "Proposal on Changes to Accounting Policies." In accordance with the "Stock Listing Rules" and "Guidelines for Self-Regulation of Listed Companies No. 1 - Standardized Operation of Main Board Listed Companies" of the Shenzhen Stock Exchange, this change in accounting policies does not require submission to the Company's shareholders' meeting for deliberation. The details are as follows: I. Overview of Changes to Accounting Policies
- Reason for Change On December 5, 2025, the Ministry of Finance issued the "Notice on Printing and Distributing 'Interpretation No. 19 of the Enterprise Accounting Standards'" (Cai Kuai [2025] No. 32) (hereinafter referred to as "Interpretation No. 19"), which provides regulations on "Accounting Treatment of Compensatory Assets in Business Combinations Not Under Common Control," "Accounting Treatment of Related Capital Reserves upon Disposal of Subsidiaries Acquired Through Business Combinations Under Common Control," "Termination of Recognition of Financial Liabilities Settled Through Electronic Payment Systems," "Assessment of Contractual Cash Flow Characteristics of Financial Assets and Related Disclosures," and "Disclosure of Equity Instruments Designated at Fair Value Through Other Comprehensive Income."
- Accounting Policies Adopted Before the Change Before this change, the Company followed the "Basic Standards for Enterprise Accounting" and specific accounting standards, application guidelines for enterprise accounting standards, announcements on enterprise accounting standards, and other relevant regulations issued by the Ministry of Finance.
- Accounting Policies Adopted After the Change After this change, the Company will comply with the regulations of "Interpretation No. 19" issued by the Ministry of Finance. Except for the changes in accounting policies mentioned above, other unchanged parts will continue to be implemented in accordance with the "Basic Standards for Enterprise Accounting" and relevant specific accounting standards, application guidelines for enterprise accounting standards, announcements on enterprise accounting standards, and other relevant regulations issued by the Ministry of Finance previously.
- Date of Change According to the regulations of the Ministry of Finance, the Company will implement "Interpretation No. 19" starting from January 1, 2026. II. Impact of Changes to Accounting Policies on the Company This change in accounting policies is a reasonable adjustment made by the Company in accordance with the relevant regulations of "Interpretation No. 19" issued by the Ministry of Finance. It complies with relevant laws and regulations and the Company's actual situation. The accounting policies after the change can objectively and fairly reflect the Company's financial status and operating results. It will not have a material impact on the Company's financial status, operating results, and cash flows, nor will it harm the interests of the Company and its shareholders. III. Documents for Inspection Resolution of the Second Meeting of the Seventh Board of Directors of the Company. Hereby announced. Zhejiang Weixing New Material Co., Ltd. Board of Directors April 3, 2026