Announcement on the Progress of Major Asset Restructuring

Securities Code: 002445

Securities Abbreviation: Zhongnan Culture

Announcement Number: 2026-038

Zhongnan Red Culture Group Co., Ltd.

Announcement on the Progress of Major Asset Restructuring

The Company and all members of the Board of Directors guarantee that the information disclosed is true, accurate, and complete, and that there are no false records, misleading statements, or material omissions.

Special Reminders:

1. Zhongnan Red Culture Group Co., Ltd. (hereinafter referred to as the "Company") disclosed the "Proposal on the Company's Issuance of Shares and Payment of Cash to Purchase Assets and Raise Supporting Funds and Related Party Transactions" and its summary on March 9, 2026. The proposal detailed the relevant risk factors and approval procedures required. Investors are urged to read the relevant content carefully and be aware of investment risks.

2. As of the date of this announcement, the parties involved in this transaction still need to further communicate and negotiate transaction details. In addition to the risk factors disclosed in the aforementioned "Proposal on the Company's Issuance of Shares and Payment of Cash to Purchase Assets and Raise Supporting Funds and Related Party Transactions," the Company has not discovered any other matters that may lead to the cancellation or suspension of this transaction, or any substantial changes to the transaction plan. The work related to this transaction is proceeding in an orderly manner.

I.