Stock Code: 002388 Stock Abbreviation: New Asia Manufacturing Announcement No.: 2026-014 New Asia Manufacturing (Zhejiang) Co., Ltd. Announcement on Applying for Comprehensive Credit Line from Bank and Providing Guarantee The Company and the entire Board of Directors guarantee the truthfulness, accuracy, and completeness of the information disclosed in this announcement and assume joint and several liability for any false representations, misleading statements, or material omissions therein. Special Reminder: New Asia Manufacturing (Zhejiang) Co., Ltd. (hereinafter referred to as the "Company" or "this Company") is applying for a comprehensive credit line from the bank as the debtor, and simultaneously providing mortgage guarantees for this credit line with its own real estate. The asset-liability ratio of the guaranteed object is less than 70%. This guarantee does not involve external guarantees, and the risk is controllable. Investors are kindly requested to pay close attention to the guarantee risk. I. Overview of Guarantee Situation (I) Basic Situation of This Guarantee To meet the Company's needs for daily operations and business development funds, the Company is applying to Shanghai Pudong Development Bank Co., Ltd. Shenzhen Branch (hereinafter referred to as "SPD Bank Shenzhen Branch") for a comprehensive credit line of RMB 90 million. The Company will provide a maximum mortgage guarantee for this credit line with its own real estate. (II) Deliberation Situation The Company held the 26th meeting of the Sixth Board of Directors on April 27, 2025, and the 2024 Annual General Meeting on May 21, 2025. The meeting deliberated and passed the "Proposal on the Company and its Subsidiaries Applying for Comprehensive Credit Line and Providing Guarantee in 2025". To meet the financing needs of the Company and its subsidiaries, and to ensure standardized operations and controllable risks, combined with the guarantee implementation in 2024, the Company and its subsidiaries estimate that the total guarantee amount in 2025 will not exceed RMB 1.5 billion (inclusive), of which the guarantee amount for entities with an asset-liability ratio not exceeding 70% will not exceed RMB 500 million (inclusive), and the guarantee amount for entities with an asset-liability ratio exceeding 70% will not exceed RMB 1 billion (inclusive). The validity period is from the date of approval by the Company's 2024 Annual General Meeting until the deliberation of the same proposal at the 2025 Annual General Meeting. For detailed content, please refer to the "Announcement on the Company and its Subsidiaries Applying for Comprehensive Credit Line and Providing Guarantee in 2025" disclosed by the Company on Juchao Information Network (www.cninfo.com.cn) on April 29, 2025. This credit extension and guarantee matter was approved by the 2024 Annual General Meeting within the scope of external guarantee amount and authorization for 2025. The specific guarantee matters that occurred this time have been authorized by the shareholders' meeting to the Company's management for specific responsibility to sign relevant guarantee agreements with financial institutions (or sign them one by one), and do not require separate board or shareholders' meeting approval. II. Progress of Guarantee The Company has signed the "Credit Line Agreement" and the "Maximum Mortgage Contract" with SPD Bank Shenzhen Branch. The Company applied to SPD Bank Shenzhen Branch for a comprehensive credit line of RMB 90 million, providing a maximum mortgage guarantee with its own real estate. The mortgage registration procedures for the relevant mortgaged properties were recently completed, and the "Real Estate Registration Certificate" was obtained. III. Main Contents of the Guarantee Agreement Main Contents of the "Maximum Mortgage Contract" Mortgagee: Shanghai Pudong Development Bank Co., Ltd. Shenzhen Branch Mortgagor: New Asia Manufacturing (Zhejiang) Co., Ltd. Secured Principal Debt: The principal amount of the principal debt shall not exceed the equivalent of RMB 90 million. Scope of Guarantee: The maximum principal balance of the principal debt, and the interest generated therefrom (including interest, late fees, and compound interest), liquidated damages, compensation for losses, fees, and other expenses incurred for signing or performing the contract, and expenses incurred by the mortgagee in realizing its secured rights and claims (including but not limited to litigation fees, attorney fees, travel expenses, etc.). Mortgaged Property: Buildings and corresponding land use rights with an area of 75,418.72 square meters owned by the Company, located in Boluo County, Huizhou City, Guangdong Province. Mortgage Period: From the date of effectiveness of the contract until the full repayment of the secured debt. IV. Basic Information of the Guaranteed Party Company Name: New Asia Manufacturing (Zhejiang) Co., Ltd. Unified Social Credit Code: 91440300745197274Y Registered Capital: RMB 507.7251 million Legal Representative: Wang Weihua Registered Address: Room A-120, Building 1, No. 6 Kaixuan South Road, Quzhou City, Zhejiang Province Business Scope: General business projects include: sales and after-sales service of electronic tools, instruments, electronic components, and chemical products; domestic trade (excluding goods subject to exclusive operation, control, or monopoly); information consulting (excluding restricted items); import and export business (excluding items prohibited by laws, administrative regulations, or decisions of the State Council; items restricted by law require permits before operation); technology development of metal anti-corrosion; leasing of self-owned properties; property management; leasing of machinery and equipment (excluding financial leasing); sales of hardware accessories; technology development and sales of purification products. Licensed business projects include: general freight; production and sales of metal anti-corrosion products; design and installation of purification engineering; stone processing. (Projects subject to approval according to law shall be carried out after approval by relevant departments). Financial Data for the Most Recent Year and Period: As of December 31, 2024, the Company's total assets were RMB 2,870,383,241.08, net assets were RMB 1,254,960,241.95, operating revenue in 2024 was RMB 2,195,879,666.68, and net profit was -RMB 304,351,237.19. As of June 30, 2025, the Company's total assets were RMB 2,741,385,730.22, net assets were RMB 1,252,392,186.60, operating revenue from January to June 2025 was RMB 879,945,728.27, and net profit was -RMB 9,001,911.87. The financial data for December 31, 2024, and the full year 2024 have been audited. The data for June 30, 2025, and January-June 2025 have not been audited. Upon inquiry, the Company is not a dishonest judgment debtor. V. Total Amount of External Guarantees and Overdue Guarantees As of the date of this announcement, the Company's approved effective guarantee limit is RMB 1.5 billion, and the total outstanding external guarantee balance is RMB 521.85 million, accounting for 53.86% of the Company's audited net assets in 2024. On March 6, 2026, the Company disclosed the "Announcement on Overdue Debts of a Subsidiary and Guarantee Progress" (Announcement No.: 2026-010). The principal loan of RMB 240 million from Zhejiang New Asia Zhongning New Energy Co., Ltd. (hereinafter referred to as "New Asia Zhongning"), a wholly-owned subsidiary of the Company, was due and not repaid. New Asia Zhongning pledged its 51% equity in New Asia Zhongning New Materials Technology (Quzhou) Co., Ltd. (formerly known as New Asia Shanshan New Materials Technology (Quzhou) Co., Ltd.) to Quzhou Zhizao Industrial Investment Group Co., Ltd. (hereinafter referred to as "Quzhou Chanying"). The Company provided supplementary mortgage guarantees for this loan with its relevant buildings and corresponding land use rights. Apart from the above guarantees, the Company (including its subsidiaries) has no other external guarantee matters, nor any other overdue guarantees, guarantees involving litigation, or losses to be borne due to being ruled against in litigation related to guarantees. VI. Impact on the Company The application for a comprehensive credit line from the bank and the provision of mortgage guarantees are to meet the Company's needs for daily operations and business development funds, which is in the overall interest of the Company. The financial risks of this matter are within the Company's controllable scope and will not have an adverse impact on the Company's normal operations and business development, nor will it harm the interests of the Company and its shareholders, especially small and medium shareholders. VII. Documents for Inspection
- "Maximum Mortgage Contract";
- "Real Estate Registration Certificate". Hereby announced. New Asia Manufacturing (Zhejiang) Co., Ltd. Board of Directors April 16, 2026