Announcement on the Sale of Equity in an Investee Company

Securities Code: 301002

Securities Abbreviation: SongSheng Shares

Announcement No.: 2026-070

Shenzhen SongSheng Electronics Co., Ltd.

Announcement on the Sale of Equity in an Investee Company

The Company and all members of the Board of Directors guarantee that the information disclosed in this report is true, accurate, and complete, and contains no false records, misleading statements, or major omissions.

I. Transaction Overview

On August 18, 2026, Shenzhen SongSheng Electronics Co., Ltd. (hereinafter referred to as the "Company") held the sixth meeting of the fourth Board of Directors, which reviewed and approved the "Proposal on the Sale of Equity in an Investee Company." The Company intends to sell its 6.25% equity in Chongqing Jinggang Transmission Technology Co., Ltd. (hereinafter referred to as "Chongqing Jinggang Transmission") and has authorized the Company's management to handle the specific matters of this equity transfer, including but not limited to signing relevant agreements and handling industrial and commercial changes.

On the same day, the Company signed the "Equity Transfer Agreement of Chongqing Jinggang Transmission Technology Co., Ltd." (hereinafter referred to as the "Equity Transfer Agreement"), transferring its 6.25% equity in Chongqing Jinggang Transmission to Zhejiang Wuzhou Xinchun Group Co., Ltd. (hereinafter referred to as "Wuzhou Xinchun") at a price of RMB 24.0625 million. Upon completion of this transaction, the Company will no longer hold equity in Chongqing Jinggang Transmission. This transaction will not result in a change in the scope of the Company's consolidated financial statements.

According to the "Shenzhen Stock Exchange GEM Stock Listing Rules," "Measures for the Administration of Major Asset Restructuring of Listed Companies," and other laws and regulations, as well as the "Company's Articles of Association," this transaction does not constitute a connected transaction, nor does it constitute a major asset restructuring. This transaction is within the scope of the Board of Directors' approval authority and does not require submission to the Company's shareholders' meeting for deliberation.

II. Basic Information of the Transferee

1. Enterprise Name: Zhejiang Wuzhou Xinchun Group Co., Ltd.

2. Unified Social Credit Code: 91330600704507918P

3. Address: No. 199 Titan Avenue, Qixing Street, Xinchang County, Shaoxing City, Zhejiang Province

4. Enterprise Type: Other Joint Stock Limited Company (Listed)

5. Legal Representative: Zhang Feng

6. Registered Capital: RMB 38,315.1922 million

7. Date of Establishment: November 12, 1999

8. Business Scope: General items: Bearing manufacturing; bearing sales; bearing steel product manufacturing; bearing, gear, and transmission component manufacturing; bearing, gear, and transmission component sales; mechanical parts and components processing; mechanical parts and components sales; automotive parts research and development; automotive parts and accessories manufacturing; hardware product manufacturing; hardware product wholesale; industrial robot manufacturing; industrial robot sales; intelligent robot research and development; intelligent robot sales; import and export of goods; technology import and export (projects subject to approval according to law are operated independently with the business license). Licensed projects: Inspection and testing services (projects subject to approval according to law can be operated only after approval by relevant departments; specific business projects are subject to approval results).

9. Major Financial Data:

Unit: Ten Thousand Yuan

The above financial data comes from publicly disclosed data of the counterparty.