Jiangsu Red Bean Industrial Co., Ltd. Announcement on the Administrative Regulatory Measures Decision Letter Received by the Company and Related Responsible Persons from Jiangsu Securities Regulatory Bureau

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Stock code: 600400 Stock abbreviation: Hongdou Co., Ltd. Announcement No.: Lin 2026-016

Jiangsu Hongdou Industrial Co., Ltd.

Announcement on the Company and Relevant Parties’ Receipt of Administrative Regulatory Measures from the Jiangsu Securities Regulatory Bureau

This announcement

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 assume legal responsibility for the truthfulness, accuracy, and completeness of the contents.

Jiangsu Hongdou Industrial Co., Ltd. (hereinafter referred to as the “Company”) received on April 3, 2026, from the Jiangsu Regulatory Bureau of the China Securities Regulatory Commission (hereinafter referred to as the “Jiangsu Securities Regulatory Bureau”) the “Jiangsu Securities Regulatory Bureau Decision on Ordering Jiangsu Hongdou Industrial Co., Ltd. and Hongdou Group Co., Ltd. to Make Corrections” ([2026] No. 33) (hereinafter referred to as the “Decision Letter I”), and the “Jiangsu Securities Regulatory Bureau Decision on Issuing a Warning Letter to Jiangsu Hongdou Industrial Co., Ltd., Hongdou Group Co., Ltd., and Meng Xiaoping” ([2026] No. 34) (hereinafter referred to as the “Decision Letter II”). The relevant matters are hereby announced as follows:

I. Contents of Decision Letter I

Jiangsu Hongdou Industrial Co., Ltd., and Hongdou Group Co., Ltd.:

After investigation, as of December 31, 2024, Jiangsu Hongdou Industrial Co., Ltd. (hereinafter referred to as Hongdou Co., Ltd. or the Company) had overdue accounts receivable of RMB 110 million from Hongdou Group Co., Ltd. (hereinafter referred to as Hongdou Group). The relevant overdue accounts receivable were fully collected by April 30, 2025. However, in 2025, accounts receivable from Hongdou Group again became overdue. As of September 30, 2025, the Company’s balance of accounts receivable from Hongdou Group that were overdue beyond the credit period was RMB 45.0943 million. In 2024, Hongdou Co., Ltd.’s accounts receivable to Hongdou Group had already become overdue; nevertheless, in 2025, it did not strictly control related accounts receivable and did not promptly pursue collection, resulting in the accounts receivable again becoming overdue, which constitutes the circumstance of the controlling shareholder occupying funds of the listed company in its ordinary business activities. The related actions of Hongdou Co., Ltd. and Hongdou Group violated the provisions of Articles 4 and 20 of the “Regulatory Guidance No. 8 on Listed Company Matters—Regulatory Requirements for Listed Companies’ Related Party Fund Exchanges and External Guarantees” (CSRC Announcement [2022] No. 26). Pursuant to the provisions of Article 170, Paragraph 2 of the “Securities Law,” and Article 23 of the “Regulatory Guidance No. 8 on Listed Company Matters—Regulatory Requirements for Listed Companies’ Related Party Fund Exchanges and External Guarantees” (CSRC Announcement [2022] No. 26), our bureau has decided to take the administrative regulatory measure of ordering corrections against Hongdou Co., Ltd. and Hongdou Group.

You shall, in accordance with the requirements of the relevant laws, administrative regulations, and regulations of the China Securities Regulatory Commission, strengthen the management of information disclosure, strictly fulfill your information disclosure obligations as required, and submit a written report to our bureau within 10 working days from the date of receipt of this decision letter.

If you are not satisfied with these regulatory measures, you may submit an application for administrative reconsideration to the China Securities Regulatory Commission within 60 days from the date of receipt of this decision letter, or you may file a lawsuit with a people’s court with jurisdiction within 6 months from the date of receipt of this decision letter. During the period of reconsideration and litigation, the above regulatory measures shall not be suspended.

II. Contents of Decision Letter II

Jiangsu Hongdou Industrial Co., Ltd., Hongdou Group Co., Ltd., and Meng Xiaoping:

After investigation, you have the following violations:

First, on November 12, 2024, Hongdou Group Co., Ltd. (hereinafter referred to as Hongdou Group) conducted two stock pledge business transactions at the Ping An Bank Wuxi Branch. Hongdou Group failed to timely inform Jiangsu Hongdou Industrial Co., Ltd. (hereinafter referred to as Hongdou Co., Ltd. or the Company) of the above stock pledge matters, resulting in inaccurate disclosure of the equity pledge information of Hongdou Group in the “Announcement on the Release of Part of the Pledges of the Controlling Shareholder’s Shares and Re-Pledging,” disclosed by Hongdou Co., Ltd. on January 23, 2025. Hongdou Group failed to timely provide in writing to Hongdou Co., Ltd. the relevant information it had learned, violating the provisions of Article 3, Paragraph 1 of the “Administrative Measures for Information Disclosure of Listed Companies” (CSRC Order No. 182).

Second, in May 2025, Hongdou Group non-operationally occupied RMB 12.5 million of funds of Hongdou Co., Ltd. by means of advance payments, and at the same time Hongdou Co., Ltd. did not disclose this non-operational fund occupation in the “2025 Semiannual Report.” The related actions of Hongdou Co., Ltd. and Hongdou Group violate the provisions of Article 3, Paragraph 1, and Article 15 of the “Administrative Measures for Information Disclosure of Listed Companies” (CSRC Order No. 226), and the “Regulatory Guidance No. 8 on Listed Company Matters—Regulatory Requirements for Listed Companies’ Related Party Fund Exchanges and External Guarantees” (CSRC Announcement [2022] No. 26), hereinafter referred to as the “Guidance on No. 8”) Article 3 and Article 5. Meng Xiaoping, who was then the secretary of the board of directors of Hongdou Co., Ltd., failed to fulfill the duty of diligence and responsibility, violating the provisions of Article 4 of the “Administrative Measures for Information Disclosure of Listed Companies” (CSRC Order No. 226).

Pursuant to the provisions of Article 52 and Article 53 of the “Administrative Measures for Information Disclosure of Listed Companies” (CSRC Order No. 182) and the “Administrative Measures for Information Disclosure of Listed Companies” (CSRC Order No. 226), our bureau has decided to take the administrative regulatory measure of issuing a warning letter against Hongdou Co., Ltd., Hongdou Group, and Meng Xiaoping.

You shall, in accordance with the requirements of the relevant laws, administrative regulations, and regulations of the China Securities Regulatory Commission, strengthen the management of information disclosure, strictly fulfill your information disclosure obligations as required, and submit a written report to our bureau within 10 working days from the date of receipt of this decision letter. If you are not satisfied with these regulatory measures, you may submit an application for administrative reconsideration to the China Securities Regulatory Commission within 60 days from the date of receipt of this decision letter, or you may file a lawsuit with a people’s court with jurisdiction within 6 months from the date of receipt of this decision letter. During the period of reconsideration and litigation, the above regulatory measures shall not be suspended.

III. Other Relevant Explanations

The Company and the relevant parties attach great importance to the issues involved in the above decision, and will strictly summarize and rectify them in a serious manner in accordance with the relevant laws and regulations and the requirements of the Jiangsu Securities Regulatory Bureau. The Company and the relevant parties will strengthen their study of relevant laws and regulations and regulatory documents, improve the level of standardized operation, strengthen the management of information disclosure, strictly comply with the relevant requirements, and promptly fulfill their information disclosure obligations, and effectively safeguard the interests of the Company and all shareholders.

The above administrative regulatory measures will not affect the Company’s normal production and business operations. Investors are kindly requested to invest rationally and pay attention to investment risks.

This announcement is hereby given.

Jiangsu Hongdou Industrial Co., Ltd.

Board of Directors

April 4, 2026

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