Shenzhen Wanrun Technology Co., Ltd. Announcement on the Progress of the Company and Subsidiaries' Applications for Comprehensive Credit Lines and Guarantee Matters from Banks and Other External Institutions

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Security code: 002654 Stock abbreviation: Vanchip Science and Technology Announcement No.: 2026-011

Shenzhen Vanchip Science and Technology Co., Ltd. regarding the progress of the company and its subsidiaries’ application to banks and other external institutions for comprehensive credit facilities and guarantee matters

All of the information disclosure content of this company and the entire board of directors is true, accurate, and complete. There are no false records, misleading statements, or material omissions.

I. Overview of the company and subsidiaries’ application to banks and other external institutions for comprehensive credit facilities and guarantee matters

Shenzhen Vanchip Science and Technology Co., Ltd. (hereinafter referred to as the “Company” or “Vanchip Science and Technology”) respectively convened the seventh meeting of the Sixth Session of the Board of Directors and the 2024 Annual General Meeting of Shareholders on April 24, 2025 and May 16, 2025. They considered and approved the proposal regarding the company and subsidiaries’ application to banks and other external institutions for comprehensive credit facilities and guarantee matters. It was agreed that the Company and its subsidiaries (including all wholly owned and controlling subsidiaries of the Company that are currently and in the future included in the scope of the Company’s consolidated financial statements; hereinafter collectively referred to as the “subsidiaries”) apply to external institutions such as banks, financial leasing companies, and counterparties for a total comprehensive credit facility amount of no more than RMB 3.0 billion (excluding credit facilities that have become effective but have not yet expired). The business scope under the comprehensive credit facility includes but is not limited to loans, bank acceptance bills and discounting, letters of guarantee, bill discounting/discounting pools, letters of credit, financial leasing, foreign exchange derivative products, etc. This facility amount may be revolved and used on a rolling basis.

It was agreed that the guarantee limit provided by subsidiaries to the Company shall not exceed RMB 1.2 billion; the guarantee limit provided by the Company and subsidiaries to subsidiaries with an asset-liability ratio below 70% (inclusive) shall not exceed RMB 0.9 billion; and the guarantee limit provided by the Company and subsidiaries to subsidiaries with an asset-liability ratio above 70% shall not exceed RMB 0.4 billion. Within the above-anticipated total guarantee limit, the guarantee limits among the various entities may be adjusted for use. The relevant guarantee matters shall be subject to the duly signed guarantee agreements. Guarantee limits for guarantees provided for the same credit facility business shall not be calculated more than once. The guarantee balance at any given point in time shall not exceed the guarantee limit approved by the general meeting of shareholders. This facility amount may be revolved and used on a rolling basis.

Within the above total comprehensive credit facilities and guarantee amounts, the board of directors requests the general meeting of shareholders to authorize the Company’s general manager’s office to approve specific matters relating to the credit facilities and guarantees. Within the above total guarantee limits, it is also authorized to adjust the guarantee limits provided by the Company to subsidiaries, by subsidiaries to the Company, and by subsidiaries to other subsidiaries. After approval by the general manager’s office, the credit facilities and guarantee matters shall be handled by the legal representative of the Company or an agent duly authorized. The authorization period for this authorization matter is consistent with the validity period of the proposal on the comprehensive credit facilities and guarantee amounts.

For specific details, please refer to the Company’s announcements disclosed on April 25, 2025 and May 17, 2025 in the Securities Times, Securities Daily, China Securities Journal, Shanghai Securities News, and on the Juchao Information website: the Announcement on the Company and Subsidiaries’ Application to Banks and Other External Institutions for Comprehensive Credit Facility Amounts and Guarantee Matters (Announcement No.: 2025-019), and the Announcement on Resolutions of the 2024 Annual General Meeting of Shareholders (Announcement No.: 2025-026).

II. Progress regarding credit facilities and guarantees

The Company has recently received the “RMB Amount Loan Agreement” signed by its controlling subsidiary, Hubei Yangtze Vanchip Semiconductor Technology Co., Ltd. (hereinafter referred to as “Vanchip Semiconductor”), and the Business Department of Hubei Branch of the China Construction Bank Co., Ltd. (hereinafter referred to as the “Business Department of Construction Bank Hubei Province”). Vanchip Semiconductor applied to the Business Department of Construction Bank Hubei Province for an RMB 80,000,000 loan facility with a term of 1 year. Meanwhile, the Company and the Business Department of Construction Bank Hubei Province signed the “Maximum Principal Amount Guarantee Agreement,” under which the Company provides joint and several liability guarantees to the Business Department of Construction Bank Hubei Province for Vanchip Semiconductor’s applied loan facility based on its shareholding proportion (i.e., 90%). At any given point in time, the principal amount of the financing that the Company provides as a guarantee to the Business Department of Construction Bank Hubei Province shall not exceed RMB 72,000,000, and the specific guarantee amount shall be subject to the actual amount incurred. In addition, the other shareholders of Vanchip Semiconductor also provide joint and several liability guarantees to the Business Department of Construction Bank Hubei Province for Vanchip Semiconductor’s applied loan facility in accordance with their respective shareholding proportions.

The above credit facility and guarantee matters are within the credit facility and guarantee limits approved by the Company’s board of directors and the general meeting of shareholders, and have also been approved by the Company’s general manager’s office.

III. Basic information of the guaranteed party

Guaranteed party: Hubei Yangtze Vanchip Semiconductor Technology Co., Ltd.

Date of establishment: December 13, 2022

Type of company: Other limited liability company

Registered capital: RMB 35.0 million

Registered address: No. 1, Jian She 2nd Road, Qingshan District, Wuhan, Hubei Province, Wugang Digital Building, 9F

Legal representative: Liu Yuan

Equity structure: The Company holds 90% of the equity; the other shareholders collectively hold 10% of the equity, which is a Company-level controlling subsidiary.

Principal business: Mainly engaged in semiconductor memory business.

The main financial data of Vanchip Semiconductor are as follows:

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The above guaranteed party has no external credit rating and is not a dishonest party subject to enforcement.

IV. Main contents of the guarantee contract

Creditor (Party B): The Business Department of Hubei Branch of China Construction Bank Co., Ltd.

Debtor: Hubei Yangtze Vanchip Semiconductor Technology Co., Ltd.

Guarantor (Party A): Shenzhen Vanchip Science and Technology Co., Ltd.

Guarantee method: Joint and several liability guarantee

Guarantee scope: The principal balance not exceeding RMB 72.00 million under the principal contract; and the interest on debts, default interest, compensation, and the debt interest that should be paid in doubled amounts during the delayed performance period of effective legal documents such as judgments or mediation documents; other amounts that the debtor shall pay to Party B; and all expenses incurred by Party B to realize its creditor’s rights and the guarantee rights. Specific details shall be subject to the contract to be signed.

Guarantee period: Calculated separately for each single credit facility business handled by Party B, i.e., from the date of signing of the principal contract for the single credit facility business until three years after the deadline for performance of the debtor’s obligations under that principal contract. Specific details shall be subject to the contract to be signed.

V. Cumulative amount of external guarantees and amount of overdue guarantees

As of the date of this announcement, the Company and its controlling subsidiaries have total guarantee amounts of RMB 3.12 billion that are within their effective period. As of the date of this announcement, the Company and its controlling subsidiaries’ total balance of external guarantees is RMB 1.628 billion, representing 105.93% of the Company’s net assets audited for fiscal year 2024; the Company and its controlling subsidiaries’ total balance of guarantees provided to entities outside the consolidated financial statements is RMB 0.

The above guarantees do not involve any overdue guarantees, any guarantees involving lawsuits, or any circumstances in which losses should be borne due to an adverse judgment regarding the guarantees.

VI. Documents for reference

“RMB Amount Loan Agreement” “Maximum Principal Amount Guarantee Agreement”

This announcement is hereby issued.

Shenzhen Vanchip Science and Technology Co., Ltd.

Board of Directors

April 1, 2026

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