Announcement on Progress of Recruitment and Selection of Restructuring Investors

Guangzhou Songxue Pharmaceutical Co., Ltd.

Announcement on Progress of Recruitment and Selection of Restructuring Investors

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

Special Risk Warning:

As of the date of this announcement, Guangzhou Songxue Pharmaceutical Co., Ltd. (hereinafter referred to as the "Company") has not yet signed a pre-restructuring investment agreement with the selected pre-restructuring investor. The specific terms of the pre-restructuring investment agreement have not yet been determined, and whether the Company and the selected pre-restructuring investor can reach an agreement on the specific content of the pre-restructuring investment agreement and whether a pre-restructuring investment agreement can be signed remains uncertain. Investors are advised to pay attention to the risks.

I. Overview of the Company's Pre-Restructuring

1. On January 27, 2025, the Company received a "Letter of Notification" from the creditor Guangdong Jinglong Construction Group Co., Ltd. (hereinafter referred to as "Jinglong Construction"), stating that the Company had failed to perform effective legal documents, could not pay due debts, and was clearly lacking in solvency, but had restructuring value and feasibility. Therefore, Jinglong Construction applied to the Guangzhou Intermediate People's Court for pre-restructuring of the Company. For details, please refer to the "Notice of Application for Pre-Restructuring of the Company by Creditor" disclosed by the Company on Juchao Net on February 6, 2025 (Announcement No.: 2025-002).

On February 12, 2025, the Guangzhou Intermediate People's Court held a hearing on the pre-restructuring of the Company to solicit opinions from relevant stakeholders on the Company's pre-restructuring matters.

1. On April 11, 2025, the Company received the "Decision" and "Decision on Appointing Provisional Administrator" (2025) Yue 01 Po Shen No. 54 from the Guangzhou Intermediate People's Court. The Guangzhou Intermediate People's Court agreed to the pre-restructuring of the Company, with a pre-restructuring period of 3 months. At the same time, Beijing Jincheng (Guangzhou) Law Firm (lead institution) and Guangdong Dongfang Kunlun Law Firm were appointed as a consortium to serve as the provisional administrator during the Company's pre-restructuring period. For details, please refer to the "Announcement on the Guangzhou Intermediate People's Court's Agreement to Pre-Restructure the Company and Appoint a Provisional Administrator" disclosed by the Company on Juchao Net on April 11, 2025 (Announcement No.: 2025-011).