Huangshi Group Co., Ltd. Announcement on the Progress of External Guarantees

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Stock Code: 002329 Stock Abbreviation: Huangshi Group Announcement No.: 2026–003

Huangshi Group Co., Ltd.

Announcement on the Progress of External Guarantees

The company and all members of the board of directors guarantee that the content of the information disclosure is true, accurate, and complete, with no false records, misleading statements, or major omissions.

Special Risk Warning:

The total amount of external guarantees provided by the company and its holding subsidiaries has exceeded 100% of the most recent audited net assets, and the balance of external guarantees has exceeded 50% of the most recent audited net assets. This guarantee includes the company’s guarantees for subsidiaries with a debt-to-asset ratio exceeding 70%. Investors should pay attention to guarantee risks.

I. Overview of the Guarantee Situation

Huangshi Group Co., Ltd. (hereinafter referred to as “the Company”) held the 2024 Annual Shareholders’ Meeting, the 2025 Second Extraordinary Shareholders’ Meeting, and the 2025 Fourth Extraordinary Shareholders’ Meeting on May 21, 2025, July 15, 2025, and December 29, 2025, respectively, and passed the proposals on “Estimated Guarantee Amount for 2025,” “New Estimated Guarantee Amount for 2025,” and “New Guarantee Amount for Village Collective Economic Cooperative.” The company is expected to provide guarantees for its subsidiaries (including between subsidiaries) and for the company, totaling no more than RMB 378,816.00 million for the year 2025. This guarantee amount can be reused, and the actual total guarantee amount shall not exceed the approved guarantee limit, of which the guarantee amount for subsidiaries with a debt-to-asset ratio of 70% or more shall not exceed RMB 68,900.00 million, and for subsidiaries with a debt-to-asset ratio of less than 70%, it shall not exceed RMB 241,216.00 million. The validity period of the guarantees is within twelve months from the date of approval by the company’s 2024 Annual Shareholders’ Meeting, the 2025 Second Extraordinary Shareholders’ Meeting, and the 2025 Fourth Extraordinary Shareholders’ Meeting. The guaranteed parties or guaranteed entities may also include subsidiaries newly included in the company’s consolidated financial statements within the validity period of the guarantee authorization. For specific details, please refer to the publications in “China Securities Journal,” “Securities Times,” “Shanghai Securities Journal,” “Securities Daily,” and the Giant Tide Information Network on April 30, 2025, June 30, 2025, and December 13, 2025.

II. Progress of the Guarantee

(1) To meet production and operational needs, the company and its subsidiary Huangshi Dairy Group Co., Ltd. (hereinafter referred to as “Dairy Group”), Huangshi Guangxi Trading Co., Ltd. (hereinafter referred to as “Trading Company”), Guangxi Huangshi Jiatianxia Water Buffalo Development Co., Ltd. (hereinafter referred to as “Water Buffalo Company”), Guangxi Huangshi Industrial Park Development Co., Ltd. (hereinafter referred to as “Industrial Park Company”), and Huangshi Sunshine (Guangxi) New Energy Co., Ltd. (hereinafter referred to as “Huangshi New Energy”) have respectively signed guarantee contracts with the Nanning Technology Branch of Agricultural Bank of China Co., Ltd. (hereinafter referred to as “ABC Nanning Technology Branch”) to jointly provide joint liability guarantee for the bank acceptance bill applied by Guangxi Huangshi Dairy Co., Ltd. (hereinafter referred to as “Guangxi Huangshi”) amounting to RMB 33,244,000. At the same time, Guangxi Huangshi has provided a guarantee deposit of RMB 13,297,600 for the aforementioned bank acceptance bill. This guarantee is a joint guarantee provided by the company and its subsidiaries for the same debt of the same guaranteed party, and the guarantee amount is not calculated repeatedly.

(2) To meet production and operational needs, the company signed a guarantee contract with the Zunyi Branch of Bank of China Co., Ltd. (hereinafter referred to as “BOC Zunyi Branch”) to provide joint liability guarantee for the working capital loan of RMB 20,000,000 applied for by its subsidiary Huangshi Group Zunyi Dairy Co., Ltd. (hereinafter referred to as “Zunyi Dairy”). At the same time, Zunyi Dairy has provided mortgage guarantees for the aforementioned working capital loan using its real estate.

(3) To meet operational needs, the Dairy Group, a subsidiary of the company, signed a principal maximum guarantee contract with the Ningbo National High-tech Zone Technology Branch of China Construction Bank Co., Ltd. (hereinafter referred to as “CCB Ningbo National High-tech Zone Technology Branch”) to provide joint liability guarantee for the comprehensive credit business applied for by the company’s wholly-owned subsidiary Zhejiang Perfect Online Network Technology Co., Ltd. (hereinafter referred to as “Perfect Online”) from February 10, 2026, to February 10, 2029. The guaranteed principal balance under the principal maximum guarantee contract shall not exceed RMB 20,000,000. This guarantee matter is an additional guarantee for the previously guaranteed comprehensive credit business of RMB 30,000,000 for Perfect Online (the actual guaranteed balance as of now is RMB 18,000,000). The company and its subsidiaries jointly provide guarantees for the same debt of the same guaranteed party, and the guarantee amount is not calculated repeatedly; therefore, this guarantee does not constitute a new guarantee. For specific details of the previous guarantee, please refer to the announcement on the progress of external guarantees disclosed by the company on September 14, 2023 (Announcement No.: 2023–086).

(4) To meet production and operational needs, Guangxi Huangshi signed a loan entrustment contract with the Nanning Industrial Promotion and Small and Medium Enterprises Service Center and the Nanning High-tech Branch of Guangxi Beibu Gulf Bank Co., Ltd. (hereinafter referred to as “Beibu Gulf Bank Nanning High-tech Branch”), entrusting Beibu Gulf Bank Nanning High-tech Branch to issue a loan of RMB 5,000,000 to Guangxi Huangshi. The company signed a guarantee contract with Beibu Gulf Bank Nanning High-tech Branch to provide joint liability guarantee for the aforementioned entrusted loan.

The above guarantees are all within the guarantee limits approved by the company’s shareholders’ meeting.

The usage of this guarantee amount is as follows:

Unit: (RMB) ten thousand

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Note: The company and its subsidiaries jointly provide guarantees for the same debt of the same guaranteed party, and the guarantee amount is not calculated repeatedly.

Before the occurrence of this guarantee, the balance of guarantees provided by the company and its subsidiaries for subsidiaries with a debt-to-asset ratio of 70% or more was RMB 55,271.25 million, with a remaining available guarantee amount of RMB 13,628.75 million; the balance of guarantees provided by the company and its subsidiaries for subsidiaries with a debt-to-asset ratio of less than 70% was RMB 133,505.20 million, with a remaining available guarantee amount of RMB 107,710.80 million; the balance of guarantees provided by subsidiaries for the company was RMB 53,570.00 million, with a remaining available guarantee amount of RMB 9,430.00 million; the balance of guarantees provided by the company and its holding subsidiaries for off-consolidated entities was RMB 1.4 million, with a remaining available guarantee amount of RMB 5,560 million.

After the occurrence of this guarantee, the balance of guarantees provided by the company and its subsidiaries for subsidiaries with a debt-to-asset ratio of 70% or more was RMB 55,271.25 million, with a remaining available guarantee amount of RMB 13,628.75 million; the balance of guarantees provided by the company and its subsidiaries for subsidiaries with a debt-to-asset ratio of less than 70% was RMB 137,329.60 million, with a remaining available guarantee amount of RMB 103,886.40 million; the balance of guarantees provided by subsidiaries for the company was RMB 53,570.00 million, with a remaining available guarantee amount of RMB 9,430.00 million; the balance of guarantees provided by the company and its holding subsidiaries for off-consolidated entities was RMB 1.4 million, with a remaining available guarantee amount of RMB 5,560 million.

III. Basic Information of the Guaranteed Parties

(1) Guangxi Huangshi Dairy Co., Ltd.

1. Date of establishment: December 25, 2015

2. Registration location: No. 65, Fengda Road, High-tech Zone, Nanning City

3. Legal representative: Xie Bingqiang

4. Registered capital: RMB 500 million

5. Main business: Production and sales of dairy products, etc.

6. Shareholding structure: The company holds a 1% stake; Dairy Group holds a 99% stake.

7. Total amount involved in contingent matters (including guarantees, mortgages, litigation, and arbitration matters): None

8. Financial data for the most recent year and period:

Unit: (RMB) ten thousand

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9. Relationship with listed company: Guangxi Huangshi is a holding subsidiary of the company’s wholly-owned subsidiary Dairy Group. The company holds 100% of the equity of Guangxi Huangshi directly and indirectly.

10. Credit status: Guangxi Huangshi has a good credit rating and is not a dishonest executor.

(2) Huangshi Group Zunyi Dairy Co., Ltd.

1. Date of establishment: March 9, 2016

2. Registration location: No. 98, Huangshi Road, Pharmaceutical Health Industry Park, Honghuagang District, Zunyi City, Guizhou Province

3. Legal representative: Li Rongjiu

4. Registered capital: RMB 68.9 million

5. Main business: Production and sales of dairy products, etc.

6. Shareholding structure: Dairy Group holds 46.4441%; Shanghai Yongyi Management Consulting Partnership (Limited Partnership) holds 21.9448%; Guizhou Agricultural and Rural Modernization Development Equity Investment Fund Partnership (Limited Partnership) holds 20%; Zunyi Dairy Products Co., Ltd. holds 6.3861%; Zunyi Jianyu Real Estate Development Co., Ltd. holds 5.2250%.

The company’s wholly-owned subsidiary Dairy Group holds 81.4815% of the equity of Shanghai Yongyi Management Consulting Partnership (Limited Partnership), and the company indirectly holds 64.3251% of the equity of Zunyi Dairy.

7. Total amount involved in contingent matters (including guarantees, mortgages, litigation, and arbitration matters): None

8. Financial data for the most recent year and period:

Unit: (RMB) ten thousand

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9. Relationship with listed company: Zunyi Dairy is a subsidiary of the company’s wholly-owned subsidiary Dairy Group. The company indirectly holds 64.3251% of the equity of Zunyi Dairy.

10. Credit status: Zunyi Dairy has a good credit rating and is not a dishonest executor.

(3) Zhejiang Perfect Online Network Technology Co., Ltd.

1. Date of establishment: August 11, 2009

2. Registration location: Room 11-1-16, Fukan Building, Dongliu Street, Yinzhou District, Ningbo City, Zhejiang Province

3. Legal representative: Dong Xichun

4. Registered capital: RMB 10 million

5. Main business: Second-class value-added telecommunications services, call centers, etc.

6. Total amount involved in contingent matters (including guarantees, mortgages, litigation, and arbitration matters): None

7. Financial data for the most recent year and period:

Unit: (RMB) ten thousand

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8. Relationship with listed company: Perfect Online is a wholly-owned subsidiary of the company, which holds 100% of the equity of Perfect Online.

9. Credit status: Perfect Online has a good credit rating and is not a dishonest executor.

IV. Main Content of the Guarantee Agreements

(1) The guarantee contract signed by the company and its subsidiaries Dairy Group, Trading Company, Water Buffalo Company, Industrial Park Company, Huangshi New Energy with ABC Nanning Technology Branch.

1. Guarantors: Huangshi Group Co., Ltd., Huangshi Dairy Group Co., Ltd., Huangshi Guangxi Trading Co., Ltd., Guangxi Huangshi Jiatianxia Water Buffalo Development Co., Ltd., Guangxi Huangshi Industrial Park Development Co., Ltd., Huangshi Sunshine (Guangxi) New Energy Co., Ltd.

2. Creditor: Agricultural Bank of China Co., Ltd. Nanning Technology Branch

3. Debtor/Guaranteed Party: Guangxi Huangshi Dairy Co., Ltd.

4. Guarantee Amount: RMB 33,244,000

5. Scope of Guarantee: The principal, interest, penalty interest, compound interest, liquidated damages, and damages that the debtor should pay under the main contract, as well as all costs incurred by the creditor in realizing the debt, according to the relevant provisions of the Civil Procedure Law of the People’s Republic of China.

6. Guarantee Period: Three years from the date the debt performance period specified in the main contract expires.

7. Guarantee Method: Joint liability guarantee.

(2) The guarantee contract signed by the company with BOC Zunyi Branch.

1. Guarantor: Huangshi Group Co., Ltd.

2. Creditor: Bank of China Co., Ltd. Zunyi Branch

3. Debtor/Guaranteed Party: Huangshi Group Zunyi Dairy Co., Ltd.

4. Guarantee Amount: RMB 20,000,000

5. Scope of Guarantee: The main debt under the main contract, including principal, interest (including interest, compound interest, penalty interest), liquidated damages, compensation, costs of realizing the debt (including but not limited to litigation costs, attorney fees, notarization fees, enforcement costs, etc.), losses incurred by the creditor due to the debtor’s breach, and other payable amounts.

6. Guarantee Period: Three years from the date the main debt is due.

7. Guarantee Method: Joint liability guarantee.

8. No proportionate guarantee or counter-guarantee was provided for this guarantee.

Given that Guizhou Agricultural and Rural Modernization Development Equity Investment Fund Partnership (Limited Partnership) and Zunyi Jianyu Real Estate Development Co., Ltd. do not participate in the production and operation of Zunyi Dairy, and the company indirectly holds 64.3251% of the equity of Zunyi Dairy through Huangshi Dairy Group Co., Ltd. and Shanghai Yongyi Management Consulting Partnership (Limited Partnership), the company holds more than half of the voting rights at the shareholders’ meeting; in addition, there are three members on the board of directors of Zunyi Dairy, two of whom are appointed by the company in accordance with legal procedures, thus the company can effectively control Zunyi Dairy at the shareholders’ and board levels. Currently, Zunyi Dairy is operating normally, has good credit status, and has the ability to repay debts. The risks of this guarantee are within a controllable range, and Zunyi Dairy and other shareholders have not provided proportionate guarantees or counter-guarantees, which will not harm the interests of the listed company.

(3) The principal maximum guarantee contract signed by Dairy Group with CCB Ningbo National High-tech Zone Technology Branch.

1. Guarantor: Huangshi Dairy Group Co., Ltd.

2. Creditor: China Construction Bank Co., Ltd. Ningbo National High-tech Zone Technology Branch

3. Debtor/Guaranteed Party: Zhejiang Perfect Online Network Technology Co., Ltd.

4. Guarantee Amount: The principal balance shall not exceed RMB 20,000,000

5. Scope of Guarantee: The principal balance, interest (including compound interest and penalty interest), liquidated damages, compensation, interest for delayed performance during the period of effective legal documents such as judgments or mediation documents, other amounts payable by the debtor to the creditor (including but not limited to relevant fees, telecommunications fees, miscellaneous fees, and bank fees that the beneficiary under the letter of credit refuses to bear), and all costs incurred by the creditor to realize the debt and guarantee rights (including but not limited to litigation fees, arbitration fees, property preservation fees, travel expenses, enforcement fees, assessment fees, auction fees, notarization fees, delivery fees, announcement fees, attorney fees, etc.).

6. Guarantee Period: From the date of signing the main contract of a single credit business until three years after the debt performance period under that main contract expires.

7. Guarantee Method: Joint liability guarantee.

(4) The guarantee contract signed by the company with Beibu Gulf Bank Nanning High-tech Branch.

1. Guarantor: Huangshi Group Co., Ltd.

2. Creditor: Guangxi Beibu Gulf Bank Co., Ltd. Nanning High-tech Branch

3. Debtor/Guaranteed Party: Guangxi Huangshi Dairy Co., Ltd.

4. Guarantee Amount: RMB 5,000,000

5. Scope of Guarantee: The main debt principal, interest, penalty interest, compound interest, liquidated damages, interest for delayed performance of debts, exchange rate losses (related losses caused by exchange rate fluctuations), other amounts payable by the debtor to the creditor, and all costs incurred by the creditor to realize the debt and guarantee rights (including but not limited to litigation fees, arbitration fees, notarization fees, assessment fees, appraisal fees, auction fees, disposal fees, announcement fees, enforcement fees, attorney fees, and other expenses).

6. Guarantee Period: Three years from the next day after the borrowing period under the main contract expires.

7. Guarantee Method: Joint liability guarantee.

V. Cumulative Number of External Guarantees and Number of Overdue Guarantees

As of the disclosure date of this announcement, the total amount of guarantees by the company and its holding subsidiaries is RMB 378,816.00 million, and the balance of external guarantees provided by the company and its holding subsidiaries is RMB 246,170.86 million (excluding guarantees provided to off-consolidated entities), accounting for 263.42% of the company’s most recent audited net assets; the total balance of guarantees provided by the company and its holding subsidiaries for off-consolidated entities is RMB 1.4 million, accounting for 0.15% of the company’s most recent audited net assets.

The company and its holding subsidiaries have no overdue external guarantee situations, no litigation-related external guarantees, and no cases where losses should be borne due to judgments against guarantees.

VI. Documents for Reference

1. The guarantee contracts signed by the company and its subsidiaries Dairy Group, Trading Company, Water Buffalo Company, Industrial Park Company, Huangshi New Energy with ABC Nanning Technology Branch;

2. The guarantee contract signed by the company with BOC Zunyi Branch;

3. The principal maximum guarantee contract signed by Dairy Group with CCB Ningbo National High-tech Zone Technology Branch;

4. The guarantee contract signed by the company with Beibu Gulf Bank Nanning High-tech Branch.

This announcement is hereby made.

Huangshi Group Co., Ltd.

Board of Directors

March 28, 2026

Stock Code: 002329 Stock Abbreviation: Huangshi Group Announcement No.: 2026–004

Huangshi Group Co., Ltd.

Announcement on Resignation of Company Secretary of the Board

The company and all members of the board of directors guarantee that the content of the information disclosure is true, accurate, and complete, with no false records, misleading statements, or major omissions.

Huangshi Group Co., Ltd. (hereinafter referred to as “the Company”) recently received a written resignation report submitted by Mr. Luo Bo, the company secretary of the board. Due to personal family reasons, Mr. Luo Bo has applied to resign from the position of company secretary of the board and will not hold any position in the company after his resignation. Mr. Luo Bo’s term of office as company secretary was originally scheduled from July 11, 2025, to February 23, 2028. According to the relevant laws, regulations, normative documents, and the provisions of the Company’s Articles of Association, Mr. Luo Bo’s resignation application will take effect from the date the board of directors receives the resignation report. During his tenure as company secretary, Mr. Luo Bo fulfilled his duties diligently and responsibly and played an active role in corporate governance, information disclosure, and investor relations management. The board of directors expresses sincere gratitude for Mr. Luo Bo’s contributions to the company’s development during his tenure.

As of the disclosure date of this announcement, Mr. Luo Bo does not hold any shares in the company and has no commitments that he should fulfill but has not.

Mr. Luo Bo’s resignation will not affect the normal operation of the board of directors and will not have a significant impact on the company’s daily management and operations. The company will appoint a new company secretary as soon as possible in accordance with relevant regulations. During the vacancy period of the company secretary, Mr. Huang Junxiang, a director, will perform the duties of the company secretary.

This announcement is hereby made.

Huangshi Group Co., Ltd.

Board of Directors

March 28, 2026

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