Announcement on the Signing of the Common Benefit Debt Financing Agreement

Announcement on the Signing of the Common Benefit Debt Financing Agreement

This Announcement is made by the Board of Directors and the Company's management to ensure the truthfulness, accuracy, and completeness of the information disclosed, and to avoid any false representations, misleading statements, or material omissions.

Special Note:

1. On April 15, 2026, Huayi Brothers Media Corporation (hereinafter referred to as "the Company" or "Huayi Brothers") received the "Notice of Acceptance of Pre-Restructuring Application" from the Jinhua City Intermediate People's Court of Zhejiang Province, accepting the Company's application for pre-restructuring. The Company will continue to operate normally during the pre-restructuring period, but its assets will be managed by the court-appointed administrator. For details, please refer to the announcement disclosed by the Company on April 15, 2026, titled "Announcement on the Acceptance of the Pre-Restructuring Application by the Company" (Announcement No.: 2026-013).

2. On April 23, 2026, the Jinhua Intermediate People's Court issued the "Decision on the Acceptance of the Pre-Restructuring Application" (Case No. (2026) Zhejiang 07, Zhong 2, No. 62). The Company's administrator, Beijing Zhong Lun (Shanghai) Law Firm, and Zhejiang Jintian Law Firm have been appointed as the joint administrators to carry out various work related to the pre-restructuring. For details, please refer to the announcement disclosed by the Company on April 23, 2026, titled "Announcement on the Appointment of Joint Administrators for the Pre-Restructuring of the Company" (Announcement No.: 2026-015).

3. On April 27, 2026, the Company's administrator, in accordance with relevant laws and regulations, issued a public announcement on the pre-restructuring of the Company. For details, please refer to the announcement disclosed by the Company on April 27, 2026, titled "Announcement on the Public Announcement of the Company's Pre-Restructuring" (Announcement No.: 2026-016).

4. In order to determine the asset valuation and restructuring plan, the relevant parties will conduct asset valuation and restructuring. According to the "Administrative Measures for Enterprise Bankruptcy" and the "Administrative Measures for Corporate Bankruptcy Reorganization" and other relevant laws and regulations, the administrator will organize the audit and valuation institutions to conduct audit, valuation, and other services. For details, please refer to the announcement disclosed by the Company on April 30, 2026, titled "Announcement on the Announcement of the Company's Pre-Restructuring Audit and Valuation Institutions" (Announcement No.: 2026-032). On May 18, 2026, the administrator organized a review meeting for the audit and valuation institutions of Huayi Brothers' pre-restructuring case. The review results have been published on the National Enterprise Bankruptcy Reorganization Case Information Network.

5. To ensure the smooth progress of the Company's pre-restructuring procedures, orderly resolve the Company's debt crisis, restore and enhance the Company's sustainable operation and profitability, and protect and safeguard the fair compensation rights of creditors, in accordance with the "Enterprise Bankruptcy Law of the People's Republic of China" and relevant laws and regulations, and upon reporting to the Jinhua Intermediate People's Court, the administrator has decided to publicly recruit and select a restructuring investor for the Company. For details, please refer to the announcement disclosed by the Company on June 5, 2026, titled "Announcement on the Public Recruitment and Selection of a Restructuring Investor for the Company" (Announcement No.: 2026-040). As of now, the registration period has expired, and potential investors have submitted registration materials and paid registration deposits to the administrator. For details, please refer to the announcement disclosed by the Company on the same day, titled "Progress Announcement on the Public Recruitment and Selection of a Restructuring Investor for the Company" (Announcement No.: 2026-045).