Beijing High Energy Environment Technology Co., Ltd. Announcement on Providing Guarantees for Wholly-Owned and Controlling Subsidiaries

Security code: 603588 Security abbreviation: High-Energy Environment Announcement No.: 2026-022

Announcement of Beijing High-Energy Era Environmental Technology Co., Ltd. on Providing Guarantees for Wholly Owned Subsidiaries and Controlling Subsidiaries

The board of directors of the Company and all directors hereby guarantee that this announcement contains no false statements, misleading representations, or material omissions, and assume legal responsibility for the truthfulness, accuracy, and completeness of the content of this announcement.

Key Highlights:

● Guaranteed parties and basic information

■

● Cumulative guarantee situation

■

I. Overview of the Guarantee

(1) Basic information of the guarantee and the reallocation of guarantee amount (if any)

This time, the newly added guarantees provided for Jiangxi Xinke, Hetian High-Energy, and Jingyuan High-Energy are included within the company and controlling subsidiaries’ estimated scope of newly added guarantees for 2025.

Unit: RMB ten thousand yuan

■

The guarantors for the above guarantee matters are all the Company. As of March 29, 2026, the comprehensive credit lines, loan agreements, guarantee guarantee agreements, etc. involved for the above subsidiaries have not yet been executed.

(2) Internal decision-making procedures

On March 18, 2025, the Company held the 37th meeting of the fifth session of the board of directors, and on April 9, 2025, the Company held the 2024 annual general meeting of shareholders, respectively approving the “Resolution on Estimated Guarantees for External Parties for 2025.” The Company and wholly owned subsidiaries, controlling subsidiaries, and controlling grandson companies (hereinafter referred to as “controlling subsidiaries”) planned to provide a total amount of guarantees to external parties not exceeding RMB 2,438,800 ten thousand yuan in 2025. Among them: the total amount of external guarantees to be maintained by the Company and controlling subsidiaries as of June 4, 2025 was not to exceed RMB 1,548,800 ten thousand yuan; the Company and controlling subsidiaries planned to provide newly added guarantees for controlling subsidiaries in an amount not exceeding RMB 890,000 ten thousand yuan in 2025. Within this newly added guarantee quota of RMB 890,000 ten thousand yuan, the Company and controlling subsidiaries planned to provide newly added guarantees for controlling subsidiaries with an asset-liability ratio of less than 70% in an amount not exceeding RMB 527,580 ten thousand yuan; the Company and controlling subsidiaries planned to provide newly added guarantees for controlling subsidiaries with an asset-liability ratio higher than (including) 70% in an amount not exceeding RMB 362,420 ten thousand yuan. The validity period for this estimated guarantee is from June 5, 2025 for 12 months.

On December 19, 2025, the Company held the 6th meeting of the sixth session of the board of directors, and on January 7, 2026, the Company held its first extraordinary general meeting of shareholders in 2026, respectively approving the “Resolution on Adding Estimated Quotas for External Guarantees for 2025.” The Company and its wholly owned subsidiaries plan to newly add a guarantee quota for Jiangxi Xinke not exceeding RMB 150,000 ten thousand yuan in 2025. Its asset-liability ratio as of September 30, 2025 is 71.02%. Therefore, this newly added quota of RMB 150,000 ten thousand yuan is included within the estimated scope of the newly added total guarantee amounts that the Company and its controlling subsidiaries plan to provide for controlling subsidiaries with an asset-liability ratio higher than (including) 70% in 2025. The validity period for the newly added guarantee is from the date when the first extraordinary general meeting of shareholders of the Company in 2026 approves the resolution until June 4, 2026.

For this guarantee to the above companies, it is not necessary to separately convene the Company’s board meeting or general meeting of shareholders to deliberate and approve.

II. Basic information of the guaranteed parties

(1) Basic information

■

(2) Information on whether the guaranteed party is dishonest (if any)

None

III. Main contents of the guarantee agreements

(1) Guarantee agreement under which Jiangxi Xinke applies for a comprehensive credit line from the Fuzhou Branch of Bank of Communications

Guarantor: Beijing High-Energy Era Environmental Technology Co., Ltd.;

Guarantee method: joint and several liability guarantee;

Guarantee period: calculated separately for each installment of principal debts under the master contract according to the due date for performance of each relevant principal debt (for bank acceptance bills/letters of credit/guarantee letters, based on the date when the creditor advances funds). For each principal debt, the guarantee period runs from the date when the performance period of that relevant debt expires (or the date when the creditor advances the funds) to the date when the performance period of the last maturing principal debt under the master contract expires (or the date when the creditor advances the funds), plus three years;

Guarantee amount: not exceeding RMB 10,000 ten thousand yuan;

Scope of the guarantee and security: for all principal creditor’s rights and interests under the master contract, including principal, interest, compound interest, penalty interest, default damages, damages for breach, and costs for realizing creditor’s rights. The costs for realizing creditor’s rights include, but are not limited to, collection costs, court fees (or arbitration fees), preservation fees, announcement fees, execution fees, lawyer’s fees, travel expenses, and other fees;

Whether other shareholders provide guarantees: No;

Whether there is counter-guarantee: Yes. Jiangxi Xinke’s other shareholder, Jiangxi JinSong New Materials Co., Ltd., intends to provide counter-guarantee to the Company within the limit of its shareholding proportion.

(2) Guarantee agreement under which Jiangxi Xinke applies for a comprehensive credit line from the Nanchang Branch of Shanghai Pudong Development Bank Co., Ltd.

Guarantor: Beijing High-Energy Era Environmental Technology Co., Ltd.;

Guarantee method: joint and several liability guarantee;

Guarantee period: calculated separately for each creditor’s claim that the creditor holds against the debtor. The guarantee period runs from the date when the due performance period of each debt under the relevant creditor’s claim contract expires to the date when the due performance period of that creditor’s claim contract expires, plus three years;

Guarantee amount: not exceeding RMB 20,000 ten thousand yuan;

Scope of the guarantee and security: in addition to the principal creditor’s rights described in the guarantee contract, it also covers interest arising therefrom (interest as referred to in the guarantee contract includes interest, penalty interest, and compound interest), default damages, damages for breach, service charges, and other expenses incurred for signing or performing the guarantee contract, as well as costs arising from the creditor’s realization of its security interest and from its creditor’s rights (including but not limited to court fees, lawyer’s fees, travel expenses, etc.), and the guarantee deposit that the debtor is required to replenish upon the creditor’s request based on the master contract;

Whether other shareholders provide guarantees: No;

Whether there is counter-guarantee: Yes. Jiangxi Xinke’s other shareholder, Jiangxi JinSong New Materials Co., Ltd., intends to provide counter-guarantee to the Company within the limit of its shareholding proportion.

(3) Guarantee agreement under which Hetian High-Energy applies for a comprehensive credit line from the Hetian Branch of Bank of China Co., Ltd.

Guarantor: Beijing High-Energy Era Environmental Technology Co., Ltd.;

Guarantee method: joint and several liability guarantee;

Guarantee period: for the debts secured under the guarantee contract, the guarantee period is calculated separately for each debt. The guarantee period for each debt runs from the date when the performance period of that debt expires, for three years;

Guarantee amount: not exceeding RMB 20,000 ten thousand yuan;

Scope of the guarantee and security: the maximum principal balance of the creditor’s rights secured under the guarantee contract is RMB 20,000 ten thousand yuan. If, on the date when the period for the underlying principal creditor’s rights determined under the guarantee contract expires, it is determined that the principal creditor’s rights belong to the secured principal creditor’s rights under the guarantee contract, then the interest accrued based on the principal of that principal creditor’s rights (including interest, compound interest, penalty interest), default damages, damages for breach, costs for realizing creditor’s rights (including but not limited to litigation expenses, lawyer’s expenses, notarization expenses, execution expenses, etc.), losses caused to the creditor by the debtor’s breach, and all other payable expenses are also deemed to be secured creditor’s rights; the specific amount is determined upon its settlement;

Whether other shareholders provide guarantees: No;

Whether there is counter-guarantee: No.

(4) Guarantee agreement under which Jingyuan High-Energy applies for a comprehensive credit line from the Lanzhou Branch of China Citic Bank Co., Ltd.

Guarantor: Beijing High-Energy Era Environmental Technology Co., Ltd.;

Guarantee method: joint and several liability guarantee;

Guarantee period: for the term of the debt performance period under the master contract, it is three years from the date when the debt performance period expires; that is, three years from the date when the debtor’s debt performance period expires as stipulated in the relevant specific business contract. The guarantee period under each specific business contract is calculated separately;

Guarantee amount: not exceeding RMB 60,000 ten thousand yuan;

Scope of the guarantee and security: includes the principal creditor’s rights, interest, penalty interest, compound interest, default damages, damages for breach, debt interest for the period of delayed performance, delayed performance charges, and costs for realizing creditor’s rights (including but not limited to court fees, arbitration fees, lawyer’s fees, travel expenses, appraisal fees, transfer fees, preservation fees, announcement fees, notarization and certification fees, translation fees, execution fees, preservation insurance fees, etc.) and all other payable expenses under the master contract;

Whether there is counter-guarantee: No.

IV. Necessity and reasonableness of the guarantee

As of December 31, 2025, the asset-liability ratios of Jiangxi Xinke, Hetian High-Energy, and Jingyuan High-Energy were 69.60%, 49.33%, and 62.55%, respectively. Compared with the asset-liability ratios as of December 31, 2024, there have been no material changes. None of the above companies has any material contingent events that may affect its ability to repay debts, and none involves major lawsuits or arbitration matters. The above companies’ applications for comprehensive credit line business are mainly to meet their respective production and operating needs. The board of directors has determined that they will all have the ability to repay debts in the future, and the overall guarantee risk is controllable.

The other shareholders of the controlling subsidiaries, Jiangxi Xinke and Hetian High-Energy, have not provided guarantees, mainly because the other shareholders are non-listed companies, and factors such as the inability to obtain bank recognition of their guarantee capacity and the lack of convenience for actual business operations apply. Therefore, for Jiangxi Xinke and Hetian High-Energy’s application for credit line this time, the Company provides full-amount joint and several liability guarantee. Jiangxi Xinke’s other shareholder, Jiangxi JinSong New Materials Co., Ltd., intends to provide counter-guarantee to the Company for its credit line within the limit of its shareholding proportion.

V. Board of directors’ opinions

On March 18, 2025, the Company convened the 37th meeting of the fifth session of its board of directors and approved the “Resolution on Estimated Guarantees for External Parties for 2025.” Voting results: 9 in favor, 0 against, 0 abstentions. On April 9, 2025, the Company convened the 2024 annual general meeting of shareholders and approved the above resolution. Voting results: 286,357,382 votes in favor, 21,334,997 votes against, 320,396 abstentions.

On December 19, 2025, the Company convened the 6th meeting of the sixth session of its board of directors and approved the “Resolution on Adding Estimated Quotas for External Guarantees for 2025.” Voting results: 9 in favor, 0 against, 0 abstentions. On January 7, 2026, the Company convened its first extraordinary general meeting of shareholders in 2026 and approved the above resolution. Voting results: 267,136,075 votes in favor, 12,177,685 votes against, 274,892 abstentions.

VI. Cumulative number of external guarantees and number of overdue guarantees

As of February 28, 2026, the balance of external guarantees actually performed by the Company and its controlling subsidiaries was RMB 949,862.36 ten thousand yuan, accounting for 98.46% of the Company’s net assets attributable to shareholders of the listed company in its most recent audited period. Among them, the balance of guarantees actually provided by the Company for controlling subsidiaries was RMB 945,410.51 ten thousand yuan, accounting for 98.00% of the Company’s net assets attributable to shareholders of the listed company in its most recent audited period;

The total amount of external guarantees approved by resolution for the Company and controlling subsidiaries was RMB 1,395,433.67 ten thousand yuan, accounting for 144.65% of the Company’s net assets attributable to shareholders of the listed company in its most recent audited period. Among them, the total amount of guarantees provided by the Company for controlling subsidiaries was RMB 1,389,963.67 ten thousand yuan, accounting for 144.08% of the Company’s net assets attributable to shareholders of the listed company in its most recent audited period; the total amount of guarantees provided by the Company to the controlling shareholder and actual controllers and their related parties was 0.

Except for the above matters, the Company has no other external guarantee activities or any overdue guarantees.

This announcement is hereby issued.

Board of Directors of Beijing High-Energy Era Environmental Technology Co., Ltd.

March 30, 2026

Abundant information and precise interpretation are available on the Sina Finance APP