Shenzhen Sanwang Communications Co., Ltd. Announcement on the Implementation Results of Share Repurchase and Share Changes

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Stock Code: 688618 Stock Abbreviation: Sanwang Communication Announcement No.: 2026-009

Shenzhen Sanwang Communication Co., Ltd. Announcement on the Results of Share Repurchase Implementation and Changes in Shares

The Board of Directors and all directors of the company guarantee that the content of this announcement does not contain any false records, misleading statements, or significant omissions, and bear legal responsibility for the authenticity, accuracy, and completeness of its content.

Important Content Reminder:

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1. Share Repurchase Approval and Plan Details

On October 29, 2025, Shenzhen Sanwang Communication Co., Ltd. (hereinafter referred to as “the Company”) held the seventh meeting of the third Board of Directors, and approved the “Proposal on Share Repurchase Plan through Centralized Bidding Transaction,” agreeing that the Company would use its own funds and self-raised funds (including special loan funds for stock repurchase, etc.) to repurchase part of the issued ordinary shares (A-shares) through the Shanghai Stock Exchange system via centralized bidding transaction, and that the repurchased shares would be used entirely for implementing equity incentives or employee stock ownership plans at an appropriate time in the future. The total amount of funds for this share repurchase shall not be less than RMB 20 million (inclusive) and shall not exceed RMB 40 million (inclusive), with the repurchase price not exceeding RMB 36 per share (inclusive). The repurchase period is within 12 months from the date the Board of Directors approves this share repurchase plan.

For details, please refer to the Company’s announcements on October 31, 2025, and November 8, 2025, disclosed on the Shanghai Stock Exchange website (www.sse.com.cn): “Preliminary Plan for Share Repurchase through Centralized Bidding Transaction” (Announcement No.: 2025-054) and “Repurchase Report on Share Repurchase through Centralized Bidding Transaction” (Announcement No.: 2025-057).

2. Share Repurchase Implementation Status

(1) On December 3, 2025, the Company implemented its first share repurchase, and on December 4, 2025, disclosed the details of the first share repurchase, which can be found in the Company’s announcement on the Shanghai Stock Exchange website (www.sse.com.cn): “Announcement on the First Share Repurchase through Centralized Bidding Transaction” (Announcement No.: 2025-059).

(2) On March 17, 2026, the Company completed the share repurchase, cumulatively repurchasing 1,318,244 shares of the Company through the Shanghai Stock Exchange trading system via centralized bidding transaction, accounting for 1.1964% of the Company’s total share capital of 110,185,630 shares. The highest transaction price for the repurchased shares was RMB 34.00 per share, the lowest price was RMB 25.60 per share, the average repurchase price was RMB 30.34 per share, and the total amount of funds paid was RMB 39,996,526.58 (excluding stamp duty, transaction commissions, and other transaction costs).

(3) The Company strictly abides by the provisions of the “Regulations on Share Repurchase by Listed Companies” and “Self-Regulatory Guidelines No. 7 for Listed Companies on the Shanghai Stock Exchange - Share Repurchase,” as well as other relevant laws and regulations. The share purchases are legal and compliant, and the repurchase price and total amount of funds used comply with the repurchase plan approved by the Board of Directors. There is no difference between the actual execution of the repurchase plan and the originally disclosed repurchase plan, and the Company has completed the repurchase as disclosed.

(4) The funds for this repurchase come from the Company’s own funds and special loan funds for stock repurchase, which will not have a significant impact on the Company’s operations, financial status, and future development. This repurchase will not lead to a change in the Company’s control, and the share distribution after the repurchase will meet the conditions for listed companies, which will not affect the Company’s listing status.

3. Stock Trading by Relevant Parties During the Repurchase Period

On October 31, 2025, the Company first disclosed the share repurchase matter. For details, please refer to the Company’s announcement on the Shanghai Stock Exchange website (www.sse.com.cn): “Preliminary Plan for Share Repurchase through Centralized Bidding Transaction” (Announcement No.: 2025-054).

Upon verification, the Company’s controlling shareholders, actual controllers, proposers of the share repurchase, directors, and senior management did not buy or sell the Company’s stock from the date the share repurchase matter was first disclosed until the day before this announcement was disclosed.

4. Share Changes Table

The changes in the Company’s shares before and after this share repurchase are as follows:

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5. Arrangement for the Treatment of Repurchased Shares

The Company has cumulatively repurchased 1,318,244 shares, all of which are stored in the Company’s special securities account for repurchase. The repurchased shares will not enjoy voting rights at shareholders’ meetings, profit distributions, capital reserve conversion to share capital, subscription for new shares and allotments, pledges, and other rights during the storage period in the Company’s special securities account for repurchase. The repurchased shares will be used entirely for implementing equity incentives or employee stock ownership plans at an appropriate time in the future. The Company will conduct the share transfer in accordance with relevant laws and regulations, and if the repurchased shares have not been transferred within three years after the disclosure of this announcement, the Company will legally fulfill the procedure for reducing registered capital, and the untransferred shares will be canceled, thus reducing the Company’s registered capital correspondingly. The Company will timely fulfill its information disclosure obligations based on the specific implementation situation.

Subsequently, the Company will use the repurchased shares according to the disclosed purposes and fulfill the decision-making procedures and information disclosure obligations as required. Investors are reminded to pay attention to investment risks.

This announcement is hereby made.

Board of Directors of Shenzhen Sanwang Communication Co., Ltd.

March 19, 2026

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