Announcement Regarding the Anticipated Triggering of the Downward Adjustment Condition for the Conversion Price of "Wanxun Convertible Bonds"

Shenzhen Wanxun Electric Control Co., Ltd.

Announcement Regarding the Anticipated Triggering of the Downward Adjustment Condition for the Conversion Price of "Wanxun Convertible Bonds"

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

Special Reminder:

1. Securities Code: 300112 Securities Abbreviation: Wanxun Electric Control

2. Bond Code: 123112 Bond Abbreviation: Wanxun Convertible Bonds

3. Conversion Period: October 14, 2021 to April 7, 2027

4. Current Conversion Price: RMB 8.32 per share

From May 29, 2026, to June 15, 2026, the closing price of Shenzhen Wanxun Electric Control Co., Ltd.'s ("Company") stock has been below 85% of the current conversion price for 10 trading days. This may subsequently trigger the downward adjustment condition for the conversion price of "Wanxun Convertible Bonds." If the conversion price adjustment condition is triggered, the Company will promptly fulfill subsequent review procedures and information disclosure obligations in accordance with the relevant provisions of the "Shenzhen Stock Exchange Listed Company Self-Regulatory Supervision Guidelines No. 15 — Convertible Corporate Bonds" and the Company's "Prospectus for the Issuance of Convertible Corporate Bonds to Unspecified Objects by Shenzhen Wanxun Electric Control Co., Ltd. on the ChiNext Market" (hereinafter referred to as the "Prospectus"). Investors are kindly advised to pay attention to investment risks.

I. Basic Information of "Wanxun Convertible Bonds"

1. Issuance and Listing Status

With the approval of the "Approval on the Registration of Shenzhen Wanxun Electric Control Co., Ltd.'s Issuance of Convertible Corporate Bonds to Unspecified Objects" (CSRC License [2021] No. 662) issued by the China Securities Regulatory Commission, the Company issued 2,457,212 convertible corporate bonds to unspecified objects on April 8, 2021. Each bond has a face value of RMB 100, with a total issuance amount of RMB 245,721,200. The term is 6 years, and the duration is from April 8, 2021, to April 7, 2027. With the approval of the Shenzhen Stock Exchange, the Company's RMB 245,721,200 convertible corporate bonds were listed and traded on the Shenzhen Stock Exchange on April 23, 2021, with the bond abbreviation "Wanxun Convertible Bonds" and bond code "123112."

1. "Wanxun Convertible Bonds" Conversion Period

According to the provisions of the "Prospectus," the conversion period for "Wanxun Convertible Bonds" is from the first trading day six months after the convertible bond issuance ends to the maturity date of the convertible bond, i.e., from October 14, 2021, to April 7, 2027.

1. Conversion Price Adjustment Status

The initial conversion price for the convertible corporate bonds issued was RMB 9.13 per share. On May 28, 2021, the Company completed its 2020 equity distribution. The conversion price of "Wanxun Convertible Bonds" was adjusted from the initial conversion price of RMB 9.13 per share to RMB 8.93 per share. The adjusted conversion price became effective on May 28, 2021. For details, please refer to the "Announcement on the Adjustment of the Conversion Price of Convertible Corporate Bonds" (Announcement No.: 2021-052) published by the Company on Juchao Information Network (www.cninfo.com.cn) on May 22, 2021.