Qingdao Huijin Tong Electric Power Equipment Co., Ltd. Progress Announcement on Providing Guarantees for Bank Comprehensive Credit Applications by Subsidiaries

Stock Code: 603577 Stock Abbreviation: Huijintong Announcement No.: 2026-015

Qingdao Huijintong Power Equipment Co., Ltd.

Progress Announcement on Providing Guarantees for a Subsidiary to Apply for a Bank Comprehensive Credit Line

The board of directors of this company and all directors guarantee that the contents of this announcement contain no false records, misleading statements, or material omissions, and assume legal responsibility for the truthfulness, accuracy, and completeness of the content.

Key Information Summary:

● Guaranteed Party and Basic Information

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● Cumulative Guarantee Situation

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I. Overview of the Guarantee

(I) Progress of the Guarantee

Qingdao Huijintong Power Equipment Co., Ltd. (hereinafter referred to as the “Company”) entered into a “Maximum Amount Guarantee Contract” with the Nanning Jiangnan Sub-branch of Bank of China Co., Ltd. (hereinafter referred to as “Bank of China”) on March 30, 2026, to provide a guarantee of RMB 50,000,000 for its subsidiary Guangxi Huadian Intelligent Equipment Co., Ltd. (hereinafter referred to as “Guangxi Huadian”) in connection with its application for a bank comprehensive credit line. The guarantee method is a joint and several liability guarantee. As of the date of disclosure of this announcement, the Company’s utilization of the annual estimated guarantee额度 is as follows:

Unit: RMB 10,000

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(II) Internal Decision-Making Procedures

On March 24, 2025, the Company convened the Second Meeting of the Fifth Session of the Board of Directors, and on April 14, 2025, the 2024 Annual General Meeting of Shareholders was convened, each of which considered and approved the “Proposal on the Estimated Guarantee Credit Line for 2025 Between the Company and Its Subsidiaries.” The proposal approved that in 2025, the Company would provide guarantees for subsidiaries within the scope of the consolidated financial statements, and the total guarantee credit lines between subsidiaries, mutually, would not exceed RMB 1.1 billion (including the renewal/extension of existing guarantees). The guarantee methods include guarantees, mortgages, pledges, etc. For details, please refer to the Company’s “Announcement on the Estimated Guarantee Credit Lines for 2025 Between the Company and Its Subsidiaries” disclosed on March 25, 2025 on the Shanghai Stock Exchange (www.sse.com.cn) (Announcement No.: 2025-019).

II. Basic Information of the Guaranteed Party

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Guangxi Huadian is a subsidiary of the Company. There are no material contingent matters that could affect repayment ability.

III. Main Contents of the Guarantee Agreement

The Company and Bank of China sign the “Maximum Amount Guarantee Contract,” under which a guarantee is provided for Guangxi Huadian (debtor) to Bank of China (creditor) for continuously incurred debts within a certain period. The main terms of the contract are as follows:

1. Maximum principal guarantee limit: RMB 50,000,000.

2. Guarantee method: joint and several liability guarantee.

3. Guarantee period: three years from the date the term for the performance of the debt obligation expires.

4. Scope of guarantee: the principal of the main creditor’s claim, interest, penalty, damages, fees for realizing creditor’s rights, losses caused to the creditor by the debtor’s breach, and all other payable expenses, etc.

5. Contract effectiveness: This contract shall come into effect on the date on which the legal representatives of both parties, the responsible persons, or their authorized signatories sign it and affix the corporate seal.

IV. Total Number of External Guarantees and Number of Overdue Guarantees

As of the date of disclosure of this announcement, the total amount of guarantees provided between the Company and its subsidiaries is RMB 110,000,000 (of which the total amount of guarantees provided by the Company to its subsidiaries is RMB 100,000,000, and the total amount of guarantees provided between subsidiaries is RMB 10,000,000), accounting for 56.10% of the net assets audited as of the most recent year by the Company; the outstanding balance of guarantees that have been actually incurred between the Company and its subsidiaries is RMB 93,400,000 (including the guarantee of this transaction, of which the outstanding balance of guarantees provided by the Company to its subsidiaries is RMB 92,400,000, and the outstanding balance of guarantees provided between subsidiaries is RMB 10,000,000), accounting for 47.63% of the net assets audited as of the most recent year by the Company; the Company has no situation of overdue guarantees.

This announcement is hereby issued.

Board of Directors of Qingdao Huijintong Power Equipment Co., Ltd.

April 1, 2026

● Documents for Filing

“Maximum Amount Guarantee Contract”

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