[Image: Company Logo]
Stock Code: 002853 Stock Abbreviation: Piano
Guangdong Piano Customized Furniture Co., Ltd.
Guangdong Piano Customized Furniture Co., Ltd. (Registered Address: No. 15, Yingbin Avenue, Intelligent Manufacturing Equipment Industrial Park, Banfu Town, Zhongshan City)
2025 Annual Plan for Issuance of A-Shares to Specific Targets (Revised Draft)
July 2026
Company Statement
-
The Company and all members of the Board of Directors guarantee that the content of this announcement is true, accurate, and complete, and confirm that there are no false records, misleading statements, or material omissions.
-
This plan is prepared in accordance with the requirements of the "Securities Law of the People's Republic of China" and the "Administrative Measures for the Registration of Securities Issuance by Listed Companies."
-
Upon completion of this issuance of shares to specific targets, the Company shall be solely responsible for any changes in its operations and earnings; investors shall bear the investment risks arising from this issuance.
-
This plan is an explanation by the Board of Directors regarding this issuance of shares to specific targets, and any contrary statements are false.
-
Investors with any questions should consult their stockbroker, lawyer, professional accountant, or other professional advisor.
-
The matters described in this plan do not represent a substantive judgment, confirmation, or approval by the approval authorities regarding the matters related to this issuance. The effectiveness and completion of the matters related to this issuance are subject to the approval or registration of the relevant approval authorities.
Special Notice
The terms or abbreviations used in this section have the same meaning as those defined in the "Definitions" section of this plan.
-
The plan for this issuance of shares to specific targets has been reviewed and approved at the 14th meeting of the 4th Board of Directors held on December 15, 2025, and the 2026 4th Extraordinary General Meeting held on May 22, 2026. The revisions were reviewed and approved at the 4th meeting of the 5th Board of Directors held on July 24, 2026. It is still subject to approval by the Company's shareholders, review by the Shenzhen Stock Exchange, and registration approval by the China Securities Regulatory Commission before implementation.
-
The target of this issuance is Chuxin Micro, which intends to subscribe to the issued shares in cash and has signed a "Conditional Share Subscription Agreement" with the Company. This issuance constitutes a related-party transaction.
-
The pricing benchmark date for this issuance is the first day of the issuance period. The issue price shall not be lower than 80% of the average trading price of the Company's shares for the 20 trading days preceding the pricing benchmark date (Average trading price for the 20 trading days = Total trading volume of shares for the 20 trading days / Total trading volume of shares for the 20 trading days). If the Company distributes dividends, issues bonus shares, or converts capital reserves into share capital between the pricing benchmark date and the issuance date, the issue price will be adjusted accordingly.
-
The total funds to be raised from this issuance shall not exceed 394.5061 million RMB (inclusive). After deducting relevant issuance expenses, the proceeds will be used entirely to supplement working capital and repay bank loans.
-
The number of shares to be issued is determined by dividing the total funds raised by the issue price. The number of shares issued shall not exceed 34,514,970 shares and shall not exceed 30% of the total share capital of the Company prior to this issuance. If the Company issues bonus shares or converts capital reserves into share capital between the pricing benchmark date and the issuance date, or if there are regulatory requirements, the upper limit of the issuance quantity will be adjusted accordingly. Within the aforementioned scope, after this issuance is approved by the Shenzhen Stock Exchange and registered by the China Securities Regulatory Commission, the Board of Directors will, based on the authorization of the General Meeting of Shareholders, negotiate with the sponsor (lead underwriter) to determine the final issuance quantity in accordance with the relevant regulations of the China Securities Regulatory Commission and the Shenzhen Stock Exchange.