Shenzhen Zhitong Electronic Co., Ltd. Progress Announcement on Signing the Winning Bid Project Contract

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Stock code: 002197 Stock abbreviation: ZT Electronics Announcement No.: 2026-015

Shenzhen ZT Electronics Co., Ltd.

Progress Announcement on the Signing of the Contract for the Winning Bid Project

The Company and all members of the Board of Directors guarantee that the information disclosure is true, accurate, and complete, and contains no false records, misleading statements, or major omissions.

I. Overview of the matter

Shenzhen ZT Electronics Co., Ltd. (hereinafter referred to as the “Company”) disclosed on the websites of CNINFO on April 13, 2023 and April 15, 2023, the “Company’s Announcement on the Indicative Notice of the Project Winning Bid Results” (Announcement No.: 2023-009), and the “Company’s Announcement on Receipt of the Notice of Winning Bid” (Announcement No.: 2023-010). On May 20, 2023, the Company disclosed on CNINFO the “Company’s Announcement on the Signing of the Contract for the Winning Bid Project” (Announcement No.: 2023-026). The Company, together with China Tongfu Service Construction Co., Ltd. and Henan Digital Zhongyuan Data Co., Ltd. (hereinafter referred to as “Henan Digital”), and Henan Shuchuang Industrial Co., Ltd. (hereinafter referred to as “Henan Shuchuang”), entered into the “MCCentral Big Data Center Project (Henan AI Industry Innovation Research Center) MEP General Contracting and Data Center Operations Contract” (hereinafter referred to as the “Original Contract”) with respect to the Central Plains Big Data Center Project (Henan AI Industry Innovation Research Center) MEP general contracting and data center operations (hereinafter referred to as “this Project”). The total contract amount is RMB 263.16M (inclusive of tax).

II. Progress

Up to now, the Project’s engineering work has been completed, inspected for acceptance, and filed, and the warranty obligations have been performed normally. Due to changes in the external market environment affecting project operations, the relevant arrangements in the original operational cooperation are no longer feasible for the current performance situation and the needs for future long-term operations. To ensure the smooth advancement of the Project, after reaching a consensus through negotiations among the Company, Henan Digital, and Henan Shuchuang, the parties signed the “Supplemental Agreement to the MEP General Contracting and Data Center Operations Contract for the MCCentral Big Data Center Project (Henan AI Industry Innovation Research Center)” (hereinafter referred to as the “Supplemental Agreement”), which is more suitable for the market environment and more stable. The main contents are as follows:

(1) Contract termination and continued performance of warranty obligations

The Original Contract signed by all parties (including all attachments and any supplemental agreements signed during the period) shall be terminated as of February 1, 2026; the Company will still assume the obligation to provide quality warranty for the data center’s MEP system engineering until the end of 2027.

(2) Settlement of engineering payments and operational payments, and offsetting of amounts

The total amount of the Original Contract is RMB 263.16M. The Company will no longer claim the 15% contract balance for which the Company should have been paid during the operational period under the Original Contract. The remaining 85% of the engineering payment, from RMB 223.69M, has been adjusted down to RMB 211.44M. After deducting the RMB 193.54M already paid and offset, the remaining unpaid engineering payment of RMB 17.9M will be used to offset the operational service fee payable to Henan Digital, including but not limited to service fees, rent, utilities, and project delay breach penalties, implementing a “more refund if overpaid and less if underpaid” approach.

(3) Framework for subsequent operational cooperation

Henan Digital, as the data center owner, commissions the Company to operate the data center on its behalf, responsible for rack sales, introduction of customers, and so on. The contract term is the initial 8 years. Within the 30 days prior to the expiration, the parties may negotiate to renew the agreement. The corresponding billing standards for the Company’s management service fee will be adjusted accordingly, and the parties will further negotiate separately on market-oriented sales incentive policies.

(4) Dispute resolution

Except for this Supplemental Agreement and the related mediation documents, there are no other disputes among the parties regarding the Original Contract, and no party will further pursue liability for breach of contract. This Supplemental Agreement shall come into effect after being signed and sealed by all parties.

III. Impact on the Company

According to the relevant provisions of the Articles of Association, signing this Supplemental Agreement does not require submission to the Company’s Board of Directors or the shareholders’ meeting for deliberation. It is expected that the signing of the Supplemental Agreement will have a certain degree of impact on the Company’s operating revenue and profits, but will not have a material adverse impact on the Company’s overall operating performance. The specific amounts shall be subject to the audited figures. In the long term, this adjustment will further clarify the rights and obligations of both parties, strengthen the cooperation relationship, and lock in core regional computing power resources.

IV. Risk notice

During the performance of the Supplemental Agreement, if factors such as unforeseeable events or force majeure occur, there is a possibility that it will result in a risk that the Supplemental Agreement cannot be fully performed or is terminated. The Company will closely monitor the subsequent execution of the Project and will actively take measures to protect the Company’s legitimate rights and interests. The Company will strictly comply with the requirements and provisions of relevant laws and regulations for information disclosure, properly and promptly perform information disclosure work, and kindly asks the broad investing public to make prudent decisions, and to pay attention to preventing investment risks.

V. Documents for record

1. The “Supplemental Agreement to the MEP General Contracting and Data Center Operations Contract for the MCCentral Big Data Center Project (Henan AI Industry Innovation Research Center)”.

This announcement is hereby issued.

Board of Directors of Shenzhen ZT Electronics Co., Ltd.

April 4, 2026

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