Beijing Golden Orange Technology Co., Ltd. Announcement on the Progress of Selling Equity in the Associated Company

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Security code: 688291 Stock abbreviation: Golden Oranges Announcement No.: 2026-014

Beijing Golden Orange Technology Co., Ltd.

Announcement on Progress in the Sale of Equity Interests in a Participating Company

The board of directors of the Company and all its directors warrant that the contents of this announcement contain no false records, misleading statements or material omissions, and shall bear legal responsibility in accordance with law for the truthfulness, accuracy and completeness of its contents.

I. Overview of the Transaction

Beijing Golden Orange Technology Co., Ltd. (hereinafter referred to as the “Company” or “Golden Orange”) held the 17th meeting of the fourth session of the board of directors on November 13, 2025, and held the 2025 third extraordinary general meeting of shareholders on December 2, 2025. The “Proposal on the Sale of Equity Interests in a Participating Company” was considered and approved. It was agreed that Xu Haijian, Xu Haifeng, Guo Yonghua and Zhou Zhikai would jointly purchase, for RMB 75.00 million, the registered capital of Suzhou Carmen Hars Laser Technology Co., Ltd. (“Carmen Hars”) held by the Company, which is RMB 4.1667 million, representing 15% of Carmen Hars’s total registered capital. For details, please refer to the “Announcement of Beijing Golden Orange Technology Co., Ltd. on the Sale of Equity Interests in a Participating Company” (Announcement No.: 2025-052) and the “Announcement of the Resolutions of the 2025 Third Extraordinary General Meeting of Shareholders of Beijing Golden Orange Technology Co., Ltd.” (Announcement No.: 2025-057) disclosed by the Company on November 14, 2025 and December 3, 2025, respectively, on the website of the Shanghai Stock Exchange (www.sse.com.cn).

As of December 3, 2025, the Company has entered into the “Equity Transfer Agreement for Suzhou Carmen Hars Laser Technology Co., Ltd.” (hereinafter referred to as the “Equity Transfer Agreement”) and other relevant agreements with Xu Haijian, Xu Haifeng, Guo Yonghua, Zhou Zhikai, Zhang Lulilu, Suzhou Carmen Hars Yi Technology Service Partnership (Limited Partnership), Suzhou Hars Yi Technology Service Partnership (Limited Partnership), Suzhou Carmen Hars Er Technology Development Partnership (Limited Partnership), Suzhou Hars Er Technology Service Partnership (Limited Partnership), Zhuhai Haoyuan Investment Co., Ltd., Lu Junming, Changsha Xiyang Liangxin Venture Capital Partnership (Limited Partnership), and Changzhou Xiyang Wenxin Venture Capital Partnership (Limited Partnership). For details, please refer to the “Announcement of Beijing Golden Orange Technology Co., Ltd. on Progress in the Sale of Equity Interests in a Participating Company” (Announcement No.: 2025-058) disclosed by the Company on December 3, 2025 on the website of the Shanghai Stock Exchange (www.sse.com.cn).

Pursuant to the “Equity Transfer Agreement,” within 30 days after the effectiveness of the agreement, Xu Haijian, Xu Haifeng, Guo Yonghua and Zhou Zhikai shall pay Golden Orange RMB 35.00 million (hereinafter referred to as the “first installment of equity transfer consideration”). Specifically, Xu Haijian shall pay RMB 14.00 million to Golden Orange, Xu Haifeng shall pay RMB 14.00 million, Guo Yonghua shall pay RMB 4.67 million, and Zhou Zhikai shall pay RMB 2.33 million. As of January 5, 2026, the Company has received the first installment of equity transfer consideration totaling RMB 21.00 million, which was paid by Xu Haijian, Guo Yonghua and Zhou Zhikai. The Company has not yet received the first installment of equity transfer consideration of RMB 14.00 million payable by Xu Haifeng. For details, please refer to the “Announcement of Beijing Golden Orange Technology Co., Ltd. on Progress in the Sale of Equity Interests in a Participating Company” (Announcement No.: 2026-001) disclosed by the Company on January 5, 2026 on the website of the Shanghai Stock Exchange (www.sse.com.cn).

As of March 14, 2026, the Company has received the first installment of equity transfer consideration of RMB 14.00 million paid by Xu Haifeng, as well as, in accordance with the “Equity Transfer Agreement,” the liquidated damages and penalty interest arising from the overdue payment of the first installment of equity transfer consideration, totaling RMB 3.675 million, for a combined total of RMB 14.3675 million. The Company has received the first installment of equity transfer consideration in full totaling RMB 35.00 million from Xu Haijian, Xu Haifeng, Guo Yonghua and Zhou Zhikai. For details, please refer to the “Announcement of Beijing Golden Orange Technology Co., Ltd. on Progress in the Sale of Equity Interests in a Participating Company” (Announcement No.: 2026-003) disclosed by the Company on March 14, 2026 on the website of the Shanghai Stock Exchange (www.sse.com.cn).

As of March 17, 2026, the Company has completed the full settlement of the remaining RMB 1.3889 million subscription amount it held in Carmen Hars.

II. Transaction Progress

As of the date of disclosure of this announcement, Carmen Hars has completed the relevant industrial and commercial change filing in accordance with the “Equity Transfer Agreement” and has delivered the updated list of shareholders to the Company. One of the controlling shareholders and one of the actual controllers, and director Cheng Peng, no longer serves as a director of Carmen Hars, and related information has also been published in the National Enterprise Credit Information Publicity System. After completion of this equity transfer, the Company holds 5% equity interest in Carmen Hars.

In order to further clarify the payment timeline for the remaining equity transfer consideration and the breach liability for late payment by the transferees, and to ensure the smooth progress of the transaction, after friendly negotiation, on March 31, 2026, the Company entered into a “Supplemental Agreement to the Equity Transfer Agreement for Suzhou Carmen Hars Laser Technology Co., Ltd.” (hereinafter referred to as the “Supplemental Agreement”) with Xu Haijian, Xu Haifeng, Guo Yonghua and Zhou Zhikai.

III. Main Contents of the “Supplemental Agreement”

1. Payment Arrangements

1.1 All parties agree and confirm that the second equity transfer consideration of RMB 20.00 million (in capital letters: RMB twenty million only) under the “Equity Transfer Agreement” shall be paid separately by the transferees to the accounts designated by the transferors by January 31, 2027. Specifically, Xu Haijian shall pay RMB 8.00 million to Golden Orange, Xu Haifeng shall pay RMB 8.00 million, Guo Yonghua shall pay RMB 2.67 million, and Zhou Zhikai shall pay RMB 1.33 million.

1.2 All parties agree and confirm that the third equity transfer consideration of RMB 20.00 million (in capital letters: RMB twenty million only) under the “Equity Transfer Agreement” shall be paid separately by the transferees to the accounts designated by the transferors by January 31, 2028. Specifically, Xu Haijian shall pay RMB 8.00 million to Golden Orange, Xu Haifeng shall pay RMB 8.00 million, Guo Yonghua shall pay RMB 2.66 million, and Zhou Zhikai shall pay RMB 1.34 million.

2. Special Provisions on the Applicability of the Grace Period for Penalty Interest

2.1 All parties agree and confirm that the “grace period for the party that accrues penalty interest for overdue payment exceeding 30 days” stipulated in the “Equity Transfer Agreement” has exceptions in its application. With respect to the fact of overdue payment that has already occurred, all parties agree to adjust the applicability conditions of this grace period as follows:

From the effective date of the “Supplemental Agreement,” if Xu Haifeng fails to pay Golden Orange the equity transfer consideration within the payment deadline for any installment under the “Supplemental Agreement,” then from the date on which the overdue occurs, Golden Orange shall have the right to require Xu Haifeng to: (1) calculate and pay the liquidated damages for the overdue period based on the bank loan interest rate for the same period; and (2) calculate and pay the penalty interest based on a daily rate of five ten-thousandths, until the date when all amounts have been paid in full. The aforesaid liquidated damages and penalty interest shall apply concurrently, be calculated separately, not be offset against each other, and the 30-day grace period stipulated in the “Equity Transfer Agreement” shall no longer apply.

3. Supplemental Provisions on the Applicability of the Grace Period for Penalty Interest in Future Payment Obligations

3.1 All parties agree that, for the subsequent payment obligations of Xu Haijian, Guo Yonghua and Zhou Zhikai, the rule on applicability of the 30-day grace period stipulated in the “Equity Transfer Agreement” shall be dynamically adjusted based on their performance records as follows:

If any of the above parties fails to pay in full the second installment of equity transfer consideration within the deadline agreed in the “Supplemental Agreement,” and subsequently, during the payment of the third installment of equity transfer consideration, another case of overdue payment occurs, then when the third installment payment becomes overdue, from the date on which the overdue occurs, Golden Orange shall have the right to require that party to: (1) calculate and pay the liquidated damages for the overdue period based on the bank loan interest rate for the same period; and (2) calculate and pay penalty interest based on a daily rate of five ten-thousandths, until the date when all amounts have been paid in full. The aforesaid liquidated damages and penalty interest shall apply concurrently, be calculated separately, not be offset against each other, and the 30-day grace period stipulated in the “Equity Transfer Agreement” shall no longer apply.

4. Other Matters

All parties shall strictly perform their obligations under the “Supplemental Agreement.” Any failure to perform or any incomplete performance of obligations under the “Supplemental Agreement” by any party shall constitute a breach of the “Supplemental Agreement.”

The “Supplemental Agreement” shall become effective from the date on which all parties formally sign it (natural person signatures; and for legal persons, signatures by the legal representative or an authorized representative and the affixation of the corporate seal). The “Supplemental Agreement” and the “Equity Transfer Agreement” shall have equal legal effect. In the event of any inconsistency between the “Equity Transfer Agreement” and the “Supplemental Agreement,” the “Supplemental Agreement” shall prevail.

IV. Impact on the Company

The purpose of signing the “Supplemental Agreement” in this transaction is to further clarify the payment timeline for the remaining equity transfer consideration and the breach liability for late payment by the transferee. This mainly serves to ensure the smooth progress of the transaction. There is no circumstance that would harm the interests of the Company or its minority shareholders, and it will not cause any material adverse impact on the Company’s ordinary production and operations. The Company will continue to monitor the subsequent progress of this equity transfer and, in accordance with relevant laws, regulations and the requirements of its systems, will promptly fulfill its information disclosure obligations.

V. Risk Warning

Investors are kindly requested to pay attention. Since this transaction involves a relatively large number of counterparties and the equity transfer consideration payment period is long, there is a risk that a counterparty may fail to perform its obligation to pay the equity transfer consideration in accordance with the agreement. Investors are kindly requested to invest prudently and to pay attention to investment risks.

This announcement is hereby issued.

Board of Directors of Beijing Golden Orange Technology Co., Ltd.

April 1, 2026

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