Securities Code: 002404 Securities Abbreviation: Jiaxin Silk Announcement No.: 2026-020 Zhejiang Jiaxin Silk Co., Ltd. Announcement on Progress of External Guarantees The Company and all members of the Board of Directors guarantee the truthfulness, accuracy, and completeness of the information disclosure, and there are no false records, misleading statements, or major omissions.
I. Review of Guarantees Zhejiang Jiaxin Silk Co., Ltd. (hereinafter referred to as the "Company") held its Ninth Board of Directors' Ninth Meeting and the 2024 Annual Shareholders' Meeting on March 26, 2025, and April 18, 2025, respectively, and deliberated and approved the "Proposal on External Guarantees." It was agreed that the Company would provide guarantees to four holding subsidiaries, including Zhejiang Jinsilkworm Network Supply Chain Management Co., Ltd., its investee Zhejiang Yinmao Import and Export Co., Ltd., and cocoon and silk supply chain enterprises, with a total credit line not exceeding RMB 700 million. This credit line will be used on a revolving basis within the approved amount, and the actual outstanding guarantee balance at any point in time shall not exceed RMB 700 million. The validity period is from the date of approval by the 2024 Annual Shareholders' Meeting to the date of the 2025 Annual Shareholders' Meeting. For details, please refer to the relevant announcements disclosed by the Company on March 28, 2025, and April 19, 2025, in "Securities Times," "Shanghai Securities News," and the Giant Information Network (http://cninfo.com.cn).
II. Progress of Guarantees On March 27, 2026, the Company signed the "Maximum Guarantee Contract" (Contract No.: Xingyin Jiaying Enterprise Finance-High Guarantee <2026>018) with Industrial Bank Co., Ltd. Jiaxing Branch (hereinafter referred to as "Industrial Bank"), agreeing that the Company would provide joint liability guarantee for loans borrowed by its wholly-owned subsidiary Zhejiang Jiaxin Jinsan Tower Silk Apparel Co., Ltd. from Industrial Bank, not exceeding RMB 10 million.