Xiangcai Co., Ltd. Announcement on the Release of Pledge of Shares by One of the Concerted Action Persons of the Controlling Shareholder

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Stock code: 600095 Stock abbreviation: Xiangcai Co., Ltd. Announcement No.: Lin 2026-017

Xiangcai Co., Ltd.

Announcement on the Release of Pledge of Shares by One of the Acting-in-Concert Parties of the Controlling Shareholder

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

Key matters to note:

● Xiangcai Co., Ltd. (hereinafter referred to as the “Company”) controlling shareholder’s acting-in-concert party, Quzhou Xinan Development Co., Ltd. (hereinafter referred to as “Quzhou Development”), holds 464,427,406 shares of the Company, accounting for 16.24% of the total share capital. After this release of the pledge, the total pledged shares held by Quzhou Development is 282,650,000 shares, representing 60.86% of its shareholding and 9.89% of the total share capital of the Company.

● Quzhou Development and its acting-in-concert parties collectively hold 1,154,282,767 shares of the Company, accounting for 40.37% of the total share capital. After this release of the pledge, the total pledged shares held by Quzhou Development and its acting-in-concert parties is 972,441,893 shares, representing 84.25% of their shareholding and 34.01% of the total share capital of the Company.

Recently, the Company received a notice from Quzhou Development, and learned that the shares it holds in the Company have been processed for the release of the pledge. The specific matters are as follows:

I. Basic information on the release of pledge of shares this time

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Note: Due to rounding, there may be slight differences in the figures at the decimal place.

If there are any circumstances under which the released shares are subsequently pledged, the Company will fulfill its information disclosure obligations in a timely manner in accordance with relevant laws and regulations.

II. Cumulative pledged shares held by shareholders

As of the date of this announcement, the cumulative pledged shares held by the controlling shareholder and its acting-in-concert parties are as follows:

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Note: Due to rounding, there may be slight differences in the figures at the decimal place.

This announcement is hereby issued.

Board of Directors of Xiangcai Co., Ltd.

March 27, 2026

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