Jiangxi Morning Light New Materials Co., Ltd. Progress Announcement on the Estimated Guarantee Limit for 2025

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Securities code: 605399 Securities abbreviation: Morning Light New Materials Announcement No.: 2026-006

Announcement on the progress of the expected guarantee amount for the year 2025 by Jiangxi Morning Light New Materials Co., Ltd.

The company’s board of directors and all directors guarantee that there are no false records, misleading statements, or major omissions in the content of this announcement, and bear legal responsibility for the authenticity, accuracy, and completeness of its content.

Important content reminder:

● Guarantee object and basic situation

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● Cumulative guarantee situation

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I. Overview of Guarantee Situation

(1) Basic situation of the guarantee

To meet the production and operational needs of Jiangxi Morning Light New Materials Co., Ltd. (hereinafter referred to as “the company” or “Morning Light New Materials”)'s holding subsidiary Anhui Morning Light New Materials Co., Ltd. (hereinafter referred to as “Anhui Morning Light”), the company provides joint liability guarantees to Anhui Morning Light for financing applications to financial institutions. The specific situation is as follows:

On March 16, 2026, the company signed a “Guarantee Contract” with Tongling Rural Commercial Bank Co., Ltd., wherein the company, as the guarantor, provided a joint liability guarantee for Anhui Morning Light’s debt to Tongling Rural Commercial Bank Co., Ltd. for a maximum principal amount not exceeding RMB 44 million.

(2) Internal decision-making process

The company held the 12th meeting of the third board of directors on April 24, 2025, and the 2024 annual general meeting of shareholders on June 5, 2025, during which it reviewed and approved the proposal on “the subsidiary’s application for a comprehensive credit limit and expected guarantee amount for the year 2025.” For specific content, please refer to the announcements disclosed by the company on April 26, 2025, and June 6, 2025, on the Shanghai Stock Exchange website (www.sse.com.cn) and designated information disclosure media titled “Announcement on the subsidiary’s application for a comprehensive credit limit and expected guarantee amount for the year 2025” (Announcement No.: 2025-010) and “Announcement on the resolutions of the 2024 annual general meeting of shareholders” (Announcement No.: 2025-024).

This guarantee matter falls within the authorized scope mentioned above and does not require further approval from the company’s board of directors and shareholders’ meeting.

II. Basic situation of the guaranteed party

(1) Basic situation

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III. Main contents of the guarantee agreement

(1) Guarantor: Jiangxi Morning Light New Materials Co., Ltd.

(2) Creditor: Tongling Rural Commercial Bank Co., Ltd.

(3) Debtor: Anhui Morning Light New Materials Co., Ltd.

(4) Scope of guarantee: All debts under the main contract, including but not limited to all principal/exposure, interest (including overdue interest), penalty fees, compensation fees, interests on debts that must be paid during the delay period of effective legal documents such as judgments or mediation documents, other payments that the debtor should pay to the creditor, and expenses incurred by the creditor to realize the creditor’s rights and guarantee rights (including but not limited to litigation fees, arbitration fees, property preservation fees, preservation guarantee fees, travel expenses, enforcement fees, assessment fees, auction fees, notarization fees, delivery fees, announcement fees, attorney fees, and expenses incurred due to litigation enforcement, etc.).

(5) Guarantee method: The guarantee provided by the guarantor under this contract is a joint liability guarantee.

(6) Guarantee period: The guarantee period of this contract is three years from the expiration date of the debt performance period under the main contract.

If the debts under the main contract are performed in installments, the guarantee period for each installment of debt shall be three years from the expiration date of the last installment of debt.

For bank acceptance bills, letters of guarantee, letters of credit, and other guarantees, the guarantee period is three years from the date the creditor makes the advance payment.

During the term of the main contract, if the guarantor provides guarantees for multiple loans (or debts) of the debtor, the guarantee period shall be calculated separately for each individual loan issued by the creditor to the debtor, i.e., from the date of issuance of the individual loan to three years from the expiration date of the debt under that loan.

If the creditor and debtor reach a postponement agreement on the debt performance period under the main contract, the guarantee period shall extend to three years from the expiration date of the newly agreed debt performance period.

If legal regulations or matters stipulated in the main contract occur, and the creditor declares the debt to be due early, the guarantee period shall be three years from the early due date of the debt.

The “expiration date of the debt performance period” referred to in the preceding paragraph includes the due date of each debt of the debtor under the main contract and the early due date declared by the creditor in accordance with the main contract and legal regulations.

(7) The maximum amount of creditor’s rights guaranteed by this contract is RMB 44 million.

(8) This contract shall become effective from the date of signature or seal by all parties or the date of fingerprint.

(9) There is no counter-guarantee for this guarantee, and this guarantee matter does not require further deliberation within the aforementioned deliberation limit.

IV. Necessity and Reasonableness of the Guarantee

This guarantee provided by the company for its holding subsidiary is to meet the operational needs of the holding subsidiary and to ensure stable and sustainable business development, which aligns with the overall interests and development strategy of the company. The guaranteed party has the ability to repay debts, and there is no situation that would harm the interests of the company and shareholders. It will not adversely affect the normal operations and business development of the company. The latest asset-liability ratio of the guaranteed party exceeds 70%, but as it is a subsidiary within the consolidated financial statements of the company, the company is able to fully grasp its operation and management situation and has control over major decision-making and daily operational management. The guarantee risk is within the company’s controllable range, and there is no situation that would harm the interests of the company and all shareholders.

V. Board of Directors’ Opinion

The board of directors believes that the guarantee provided by the company for its holding subsidiary is beneficial to meet the funding needs for the normal operation and development of the holding subsidiary. The object of the external guarantee is the company’s holding subsidiary, which has a low credit risk. The risk of providing guarantees for it is within the company’s controllable range and will not adversely affect the normal operations and business development of the company.

VI. Cumulative Number of External Guarantees and Overdue Guarantees

As of the date of this announcement, the total amount of external guarantees (including this one) actually incurred by the company and its holding subsidiaries is RMB 1,432 million, accounting for 64.97% of the company’s latest audited net assets attributable to the parent. All of these guarantees are provided for holding subsidiaries. As of the date of this announcement, the company does not have any overdue external guarantees.

This announcement is hereby made.

Board of Directors of Jiangxi Morning Light New Materials Co., Ltd.

March 17, 2026

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