Announcement on the Termination of Partial Fundraising Projects and the Investment in New Projects with Surplus Funds and Transfer to the Over-Raised Capital Account

Securities Code: 301486

Securities Abbreviation: Zhishang Technology

Announcement No.: 2026-047

Shenzhen Zhishang Technology Co., Ltd.

Announcement on the Termination of Partial Fundraising Projects and the Investment in New Projects with Surplus Funds and Transfer to the Over-Raised Capital Account

The Company and all members of the Board of Directors guarantee the truthfulness, accuracy, and completeness of the information disclosed herein, and there are no false records, misleading statements, or major omissions.

Shenzhen Zhishang Technology Co., Ltd. (hereinafter referred to as the "Company") held the 19th meeting of the Third Board of Directors on July 7, 2026, and reviewed and approved the "Proposal on Terminating Partial Fundraising Projects and Investing Surplus Raised Funds in New Projects and Transferring to the Over-Raised Capital Account." The Company plans to terminate the initial public offering fundraising projects: "Game Console Core Component Expansion Project," "5G Component Expansion Project," and "R&D Center Construction Project." The surplus raised funds amount to approximately RMB 43,866.79 million (as of July 2, 2026; the final amount is subject to the actual amount of raised funds and net interest upon transfer). Of this amount, RMB 36,895.12 million will be used to invest in the "High-end Intelligent Equipment Manufacturing Base Project" to expand the Company's main business product lines, enrich product categories, and increase production capacity to meet market and customer demand. The remaining surplus raised funds of RMB 6,971.67 million will be transferred to the over-raised capital account. The Company's Board of Directors and the Audit Committee of the Board of Directors have expressed their clear agreement on the above matters. The sponsor, Minmetals Securities Co., Ltd., has issued a no-objection verification opinion on this matter. This proposal still needs to be submitted to the Company's general meeting of shareholders for review.

The specific situation is hereby announced as follows:

I. Overview of Raised Funds

(I) Basic Situation of Raised Funds

As approved by the China Securities Regulatory Commission's "Reply on Agreeing to the Registration of Shenzhen Zhishang Technology Co., Ltd.'s Initial Public Offering of Stocks" (Zhengjian Xu Ke [2023] No. 1022), the Company publicly issued 32.1703 million ordinary shares (A shares) in July 2023, with an issue price of RMB 57.66 per share.

The total amount of raised funds was RMB 185,493.95 million. After deducting issuance expenses of RMB 16,569.21 million (excluding VAT) according to relevant regulations, the actual amount of raised funds was RMB 168,924.74 million. These raised funds were received in July 2023. The receipt of these funds was verified by the "Capital Verification Report" (Rongcheng Yan Zi [2023] No. 518Z0096) issued by Rongcheng Certified Public Accountants (Special General Partnership). The Company has implemented a special account storage management system for the raised funds.

(II) Fundraising Project and Use of Raised Funds

According to the "Prospectus for the Initial Public Offering of Stocks by Shenzhen Zhishang Technology Co., Ltd. and Listing on the ChiNext Market," the fundraising projects and the planned use of raised funds are as follows:

Unit: RMB million