Zhejiang Taihong Wanli Technology Co., Ltd. Announcement on the Listing and Circulation of Previously Issued Restricted Shares and Strategic Placement Restricted Shares Before the Initial Public Offering

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Security Code: 603210 Stock Abbreviation: Taihong Wanli Announcement No.: 2026-006

Announcement of Zhejiang Taihong Wanli Technology Co., Ltd. on the Listing and Circulation of Certain Restricted Shares Issued Prior to the Initial Public Offering and All Restricted Shares from Strategic Placement

The Board of Directors of the Company and all directors hereby guarantee that this announcement contains no false records, misleading statements or material omissions, and shall assume legal responsibility for the authenticity, accuracy and completeness of the contents of this announcement in accordance with the law.

Important Matters to Note:

● The stock type to be listed in this transaction is initial public offering shares; the stock subscription method is offline, and the number of shares to be listed is 147,577,500 shares.

● Other than the initial public offering shares, the stock type to be listed is initial public offering strategic placement shares/DRs (with a lock-up period of 12 months); the stock subscription method is offline, and the number of shares to be listed is 9,709,302 shares.

The total number of shares to be listed and circulated in this transaction is 157,286,802 shares.

● The date for the shares to be listed and circulated in this transaction is April 9, 2026.

I. Types of lock-up shares released in this listing

With approval from the China Securities Regulatory Commission’s “Reply on Approving the Registration of Zhejiang Taihong Wanli Technology Co., Ltd.’s Initial Public Offering of Shares” (CSRC Permit [2024] 1660), and with consent from the Shanghai Stock Exchange, Zhejiang Taihong Wanli Technology Co., Ltd. (hereinafter referred to as the “Company”) conducted its initial public offering of 85,100,000 shares of Renminbi ordinary shares (A shares) for the first time, which were listed and traded on the main board of the Shanghai Stock Exchange on April 9, 2025. After the completion of the Company’s initial public offering, the total share capital was 340,400,000 shares. Of this, 266,812,434 shares were shares with trading restrictions, accounting for 78.38% of the Company’s total share capital; and 73,587,566 shares were shares without trading restrictions, accounting for 21.62% of the Company’s total share capital.

The lock-up shares released in this listing consist of certain lock-up shares already issued prior to the Company’s initial public offering and all lock-up shares from the strategic placement. Among them, the number of certain lock-up shares already issued prior to the initial public offering to be released in this listing is 147,577,500 shares, corresponding to 16 lock-up shareholders; excluding the initial public offering shares, the number of lock-up shares from the strategic placement to be released in this listing is 9,709,302 shares, corresponding to 5 lock-up shareholders. The total number of lock-up shareholders for the lock-up shares to be released in this listing is 21, corresponding to 157,286,802 lock-up shares, accounting for 46.21% of the Company’s total share capital. The lock-up period is 12 months from the date the Company’s shares were listed. For details, please refer to the Company’s “Announcement on the Results of the Issue of Zhejiang Taihong Wanli Technology Co., Ltd.’s Initial Public Offering of Shares and Its Listing on the Main Board” and “Zhejiang Taihong Wanli Technology Co., Ltd.’s Initial Public Offering of Shares and Main Board Listing Prospectus,” disclosed on the website of the Shanghai Stock Exchange (www.sse.com.cn) on April 3, 2025 and April 8, 2025. Since the lock-up period for this portion of the lock-up shares is about to expire, these shares will be listed and released for trading on April 9, 2026.

II. Changes in the Company’s share capital from the formation of the lock-up shares to the present up to the disclosure date of this announcement

From the formation date of the lock-up shares to be released and until the disclosure date of this announcement, the Company has not experienced any circumstances that would lead to changes in the number of shares due to distribution, conversion of capital reserve into share capital, or any similar matters.

III. Relevant undertakings regarding the lock-up shares to be released in this listing

According to the Company’s “Prospectus for the Initial Public Offering of Shares and Its Listing on the Main Board” and “Main Board Listing Announcement for the Initial Public Offering of Shares,” the lock-up shareholders of the lock-up shares to be released in this listing have made the following undertakings:

(I) Zheng Yongmao, Guan Bin, and Wu Jianxia, who serve as directors or senior management of the Company, undertake as follows:

1. Within twelve months from the date the Company’s shares are listed, they will not transfer or authorize any other person to manage the Company’s shares held by them directly or indirectly prior to the initial public offering, and will not request the Company to repurchase such shares.

2. After the above lock-up period expires, during the period when they serve as directors, supervisors or senior management of the Company (if they resign before the term expires, within the term determined upon taking office and within the six months after the term expires), the number of shares they transfer each year shall not exceed 25% of the total number of shares held by them. Within six months after they resign, they shall not transfer the Company’s shares held by them.

3. If they reduce their holdings of the Company’s shares within two years after the above lock-up period expires, the selling price shall not be lower than the offering price. If, during the six months after the listing of the Company’s shares, the closing prices of the Company’s stock on all 20 consecutive trading days are lower than the offering price, or if the closing price of the Company’s stock at the end of the six-month period after listing is lower than the offering price, the lock-up period of the Company’s shares held by them shall be automatically extended by at least six months. If, during this period, ex-dividend/ex-rights events such as cash dividend distribution, stock dividend, conversion of capital reserve into share capital, bonus issue, etc. occur, the above offering price shall be adjusted accordingly.

4. If they violate the above undertakings, the gains obtained as a result shall be attributed to the Company. Therefore, if losses are caused to the Company or its shareholders, they shall bear the liability for compensation in accordance with the law.

(II) Zhang Hui and Ye Yishan, who serve as supervisors of the Company, undertake as follows:

1. Within twelve months from the date the Company’s shares are listed, they will not transfer or authorize any other person to manage the Company’s shares held by them directly or indirectly prior to the initial public offering, and will not request the Company to repurchase such shares.

2. After the above lock-up period expires, during the period when they serve as directors, supervisors or senior management of the Company (if they resign before the term expires, within the term determined upon taking office and within the six months after the term expires), the number of shares they transfer each year shall not exceed 25% of the total number of shares held by them. Within six months after they resign, they shall not transfer the Company’s shares held by them.

3. If they violate the above undertakings, the gains obtained as a result shall be attributed to the Company. Therefore, if losses are caused to the Company or its shareholders, they shall bear the liability for compensation in accordance with the law.

(III) Other shareholders Shao Yutian, Hangzhou Huiming Equity Investment Partnership (Limited Partnership) (previous name: Taizhou Huiming Equity Investment Partnership (Limited Partnership)), Taizhou Deren Equity Investment Partnership (Limited Partnership), Fang Donghui, Chen Junhua, Chen Kefu, Luo Huafu, Liang Chen, Taizhou Yuanrun Equity Investment Partnership (Limited Partnership), Zhou Yaqian, Zheng Kaijian, Lai Yinbiao, and Guan Minhong undertake as follows:

1. Within twelve months from the date the Company’s shares are listed, they/it will not transfer or authorize any other person to manage the Company’s shares held by them/it directly or indirectly prior to the initial public offering, and will not request the Company to repurchase such shares.

2. If they/it violate the above undertakings, the gains obtained as a result shall be attributed to the Company. Therefore, if losses are caused to the Company or its shareholders, they/it shall bear the liability for compensation in accordance with the law.

(IV) Undertakings by shareholders holding more than 5% of shares prior to this issuance—Shao Yutian, Hangzhou Huiming Equity Investment Partnership (Limited Partnership) (previous name: Taizhou Huiming Equity Investment Partnership (Limited Partnership)), and Taizhou Deren Equity Investment Partnership (Limited Partnership)

1. I/We/It are optimistic about the Company’s development prospects and intend to hold the Company’s shares for the long term. With respect to the Company’s shares held by me/us/it prior to the initial public offering, I/we/it will strictly comply with the relevant laws and regulations and the share lock-up and lock-in undertakings already made. After the above-mentioned lock-up period for the Company’s shares held by me/us/it expires, if I/we/it need to reduce my/our/its holdings of the Company’s shares, I/we/it will do so by means of centralized bidding transactions, block trades, transfer by agreement and other means that comply with relevant laws and regulations, and at the same time will strictly comply with relevant laws and regulations regarding share reductions.

2. If I/we/it reduce my/our/its holdings of shares already issued prior to the initial public offering of the Company within two years after the above-mentioned lock-up period expires, the selling price shall not be lower than the offering price of the Company’s initial public offering (if, after the Company’s listing, ex-dividend/ex-rights events such as cash dividend distribution, stock dividend, conversion of capital reserve into share capital, share splits, further issuance, rights issue, share consolidation, etc. occur, the above offering price shall be adjusted accordingly).

3. If I/we/it reduce my/our/its holdings through centralized bidding transactions, within any arbitrarily selected consecutive 90 natural days, the total number of shares to be reduced shall not exceed 1% of the total number of shares of the Company. If I/we/it reduce my/our/its holdings through block trades, within any arbitrarily selected consecutive 90 natural days, the total number of shares to be reduced shall not exceed 2% of the total number of shares of the Company. If I/we/it reduce my/our/its holdings through share transfers by agreement, the share acquisition ratio of any single transferee shall not be less than 5% of the Company’s total share capital. The transfer price floor shall be implemented in accordance with the provisions for block trades. This shall not apply where relevant laws, administrative regulations, departmental rules, normative documents and the business rules of the stock exchange provide otherwise.

4. Before reducing my/our/its holdings of the Company’s shares, I/we/it will strictly comply with the relevant laws and regulations on information disclosure, including but not limited to issuing an announcement at least 3 trading days prior to the reduction; for the first time reduction through centralized bidding transactions on the securities exchange, an announcement shall be issued 15 trading days prior to the reduction, etc.

5. If relevant laws, administrative regulations, departmental rules, normative documents, or regulatory authorities such as the China Securities Regulatory Commission and the securities exchange issue new provisions regarding the above matters, I/we/it will strictly follow and implement the new provisions.

6. If I/we/it violate the above undertakings, the gains obtained as a result shall be attributed to the Company. Therefore, if losses are caused to the Company or its shareholders, I/we/it shall bear the liability for compensation in accordance with the law.

(V) Undertakings of the Dongzheng Futures Taihong Wanli Strategic Placement Collective Asset Management Plan as follows:

The Taihong Wanli battle strategic placement asset management plan undertakes that the holding period of the shares obtained from this placement is 12 months from the date the issuer makes its initial public offering and is listed. After the lock-up period expires, the reduction of the allocated shares by the Taihong Wanli battle strategic placement asset management plan shall be subject to the relevant provisions of the China Securities Regulatory Commission and the Shanghai Stock Exchange regarding share reductions.

(VI) Undertakings of Guangdong Guangqi No. 7 Equity Investment Partnership (Limited Partnership) as follows:

Guangqi No. 7 undertakes that the holding period of the shares obtained from this placement is 12 months from the date the issuer makes its initial public offering and is listed. After the lock-up period expires, Guangqi No. 7’s reduction of the allocated shares shall be subject to the relevant provisions of the China Securities Regulatory Commission and the Shanghai Stock Exchange regarding share reductions.

(VII) Undertakings of Zhejiang Fuzhe Strategic Placement Equity Investment Partnership (Limited Partnership) as follows:

Fuzhe battle fund undertakes that the holding period of the shares obtained from this placement is 12 months from the date the issuer makes its initial public offering and is listed. After the lock-up period expires, Fuzhe battle fund’s reduction of the allocated shares shall be subject to the relevant provisions of the China Securities Regulatory Commission and the Shanghai Stock Exchange regarding share reductions.

(VIII) Undertakings of Guangzhou Industry and Controls Capital Management Co., Ltd. as follows:

Industry and Controls Capital undertakes that the holding period of the shares obtained from this placement is 12 months from the date the issuer makes its initial public offering and is listed. After the lock-up period expires, Industry and Controls Capital’s reduction of the allocated shares shall be subject to the relevant provisions of the China Securities Regulatory Commission and the Shanghai Stock Exchange regarding share reductions.

(IX) Undertakings of China Insurance Investment Fund (Limited Partnership) as follows:

Zhongbao Tou Investment Fund undertakes that the holding period of the shares obtained from this placement is 12 months from the date the issuer makes its initial public offering and is listed. After the lock-up period expires, Zhongbao Tou Investment Fund’s reduction of the allocated shares shall be subject to the relevant provisions of the China Securities Regulatory Commission and the Shanghai Stock Exchange regarding share reductions.

Except for the above undertakings, the lock-up shareholders of the lock-up shares applying for listing and circulation in this transaction have no other special undertakings. As of the disclosure date of this announcement, there are no circumstances in which any relevant undertaking has not been fulfilled in a way that would affect the listing and circulation of the lock-up shares in this transaction.

IV. Sponsor’s verification opinions

After verification, the sponsor holds that: the matters related to the Company’s application for listing and circulation of restricted shares, including the number of shares involved and the timing of listing and circulation, comply with the requirements of relevant laws and regulations and normative documents such as the “Shanghai Stock Exchange Stock Listing Rules” and the “Shanghai Stock Exchange Listed Company Self-Regulatory Guidance No. 1—Standardized Operation”; the lock-up shareholders whose lock-up restrictions are being lifted in this transaction have all strictly fulfilled the corresponding share lock-up undertakings; and the information disclosure by the Company regarding the listing and circulation of the restricted shares in this transaction is true, accurate and complete.

In summary, the sponsor has no objection to the Company’s listing and circulation of the restricted shares in this transaction.

V. Details of the listing and circulation of the restricted shares in this transaction

(I) Total number of restricted shares to be listed and circulated in this transaction: 157,286,802 shares

1. The number of initial public offering strategic placement shares to be listed and circulated in this transaction is 9,709,302 shares, with a lock-up period of 12 months. The Company confirms that the number of shares to be listed and circulated equals the total number of strategic placement shares subject to this lock-up period.

2. Other than the strategic placement shares, the number of restricted shares to be listed and circulated in this transaction is 147,577,500 shares.

(II) Date for the listing and circulation of the restricted shares in this transaction: April 9, 2026

(III) Detailed list of the restricted shares to be listed and circulated

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(IV) Table on the listing and circulation of restricted shares

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VI. Table on the structure of changes in share capital

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VII. Documents for reference

1. Verification opinion of Orient Securities Co., Ltd. on Zhejiang Taihong Wanli Technology Co., Ltd.’s listing and circulation of certain restricted shares already issued prior to the initial public offering and the strategic placement restricted shares.

It is hereby announced.

Board of Directors of Zhejiang Taihong Wanli Technology Co., Ltd.

April 2, 2026

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