Qingdao Double Star Co., Ltd. Announcement on the Completion of the Transfer of the Underlying Assets in Connection with the Issuance of Shares and the Payment of Cash to Purchase Assets, as well as the Fundraising of Supporting Funds, Together with a Related-Party Transaction

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Securities Code: 000599 Securities Abbreviation: Qingdao DoubleStar Announcement No.: 2026-009

Qingdao DoubleStar Co., Ltd.

Announcement on the Completion of the Transfer of the Underlying Assets for the Issuance of Shares and Payment of Cash to Acquire Assets, and the Raising of Supporting Capital in Connection with an Related-Party Transaction

The Company and all members of the Board of Directors guarantee that the contents of this announcement are true, accurate, and complete, and contain no false statements, misleading representations, or material omissions.

Qingdao DoubleStar Co., Ltd. (hereinafter referred to as “Qingdao DoubleStar,” “the Company”) intends to issue shares and pay cash to acquire all property interest in the Qingdao Xingtou Equity Investment Fund Center (Limited Partnership) (hereinafter referred to as “Xingtou Fund”) and 0.0285% of the equity of Qingdao Xingwei International Investment Co., Ltd. (hereinafter referred to as “Xingwei International”), and to raise supporting capital simultaneously (hereinafter referred to as “this Transaction”). The all property interest in Xingtou Fund and 0.0285% equity of Xingwei International are collectively referred to as the “Underlying Assets.” Upon finalization, Qingdao DoubleStar will indirectly hold 45% of the shares of Kumho Tire Co., Inc. (hereinafter referred to as “Kumho Tire”) and will have controlling interest in Kumho Tire.

On March 26, 2026, the Company received the approval letter issued by the China Securities Regulatory Commission (hereinafter referred to as “CSRC”), titled “Reply on Approving the Registration of Qingdao DoubleStar Co., Ltd.’s Registration for Issuing Shares to Acquire Assets and Raising Supporting Capital” (CSRC License No. [2026] 550), approving the registration application for this Transaction. For details, see the Company’s announcement published on March 27, 2026: “Announcement of Qingdao DoubleStar Co., Ltd. on the Approval by the China Securities Regulatory Commission Concerning the Registration for Its Issuance of Shares and Payment of Cash to Acquire Assets and Raising Supporting Capital” (Announcement No. 2026-008). After receiving the CSRC’s registration approval, the Company actively promoted the implementation of this restructuring. As of the date of this announcement, the transfer procedures of the Underlying Assets and the related industrial and commercial change registration matters for this restructuring have been completed. The specific situation is as follows:

I. Implementation of this Transaction

(I) Transfer and delivery of the Underlying Assets

As of the date of this announcement, the delivery and transfer procedures for the Underlying Assets involved in this Transaction have been completed. All of the property interest in Xingtou Fund has been transferred and registered under the names of Qingdao DoubleStar and its wholly owned subsidiary Qingdao Sansiujiu Equity Investment Co., Ltd. (hereinafter referred to as “Sansiujiu Company”); 0.0285% equity interest in Xingwei International has been transferred and registered under the name of Qingdao DoubleStar. The Company has legally obtained the Underlying Assets, and Xingtou Fund and Xingwei International have become the Company’s wholly owned subsidiaries, directly or indirectly holding the shares.

(II) Relevant subsequent matters of this Transaction

1. The Company still needs to issue shares to the counterparty to pay the consideration for the transaction. For the newly issued shares, the Company shall apply to China Securities Depository and Clearing Corporation Limited, Shenzhen Branch, and the Shenzhen Stock Exchange for share registration and listing procedures;

2. The Company still needs to, within the effective period of the CSRC approval, raise supporting capital by issuing shares at an appropriate time, and办理 the registration and listing procedures for the newly issued shares;

3. The Company still needs to amend the Company’s articles of association and complete the industrial and commercial change registration or filing procedures regarding matters such as the increase in registered capital involved in this Transaction;

4. The relevant parties to this Transaction still need to continue performing the agreements and undertakings related to this Transaction;

5. In accordance with the relevant laws and regulations, regulatory documents, and the Company’s articles of association, the Company still needs to fulfill its information disclosure obligations regarding the subsequent matters of this Transaction.

II. Intermediary institutions’ verification opinions on the transfer of the Underlying Assets in this Transaction

(I) Opinion of the independent financial advisor

The independent financial advisor for this Transaction, China International Capital Corporation Limited, believes that:

“1. As of the date of signing of this verification opinion, this Transaction has obtained the necessary approvals and authorizations at the current stage, and meets the requirements of relevant laws and regulations including the Company Law, the Securities Law, the Rules on the Management of Major Asset Restructurings, and the Rules on the Administration of Share Issuance Registration, among others;

2. As of the date of signing of this verification opinion, the Underlying Assets of this Transaction have been transferred to the name of the listed company. The listed company holds all of the property interest in Xingtou Fund and 0.0285% equity interest in Xingwei International. The procedures for the transfer of the Underlying Assets are legal and effective;

3. Given that all relevant parties fully fulfill their respective obligations in accordance with the relevant agreements they have signed and the related undertakings they have made, there are no substantial legal obstacles to the implementation of the subsequent matters of this Transaction.”

(II) Legal counsel opinion

The legal counsel for this Transaction, Beijing DeHeng Law Offices, believes that:

“1. The scheme for this Transaction is lawful and compliant.

2. This Transaction has obtained all necessary approvals and authorizations. The conditions for effectiveness agreed in transaction agreements including the “Share Issuance and Cash Payment Agreement for the Acquisition of Assets,” the “Supplemental Agreement to the Share Issuance and Cash Payment Agreement for the Acquisition of Assets,” the “Performance Compensation Agreement,” and their related supplemental agreements have been satisfied, and the conditions for implementing the transfer of the Underlying Assets have been met.

3. The Underlying Assets of this Transaction have been transferred to the names of Qingdao DoubleStar and Sansiujiu Company. The transfer procedures are lawful and effective.

4. Based on the diligent performance by all parties to this Transaction of the relevant agreements and undertakings, the subsequent matters that Qingdao DoubleStar still needs to implement for this Transaction present no substantial legal obstacles.”

III. Documents for inspection

1. Relevant supporting documents for the transfer of the Underlying Assets;

2. The independent financial advisor’s verification opinion by China International Capital Corporation Limited regarding the transfer of the Underlying Assets in connection with Qingdao DoubleStar Co., Ltd.’s issuance of shares and payment of cash to acquire assets and raising supporting capital, and the related-party transaction;

3. The legal opinion letter by Beijing DeHeng Law Offices regarding the transfer of the Underlying Assets in connection with Qingdao DoubleStar Co., Ltd.’s issuance of shares and payment of cash to acquire assets and raising supporting capital, and the related-party transaction.

This announcement is hereby given.

Board of Directors of Qingdao DoubleStar Co., Ltd.

March 31, 2026

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