Fangsheng Co., Ltd. Temporary Shareholders' Meeting unanimously approved the proposal regarding the guarantee amount for commodity hedging business.

Wuxi Fangsheng Heat Exchanger Co., Ltd. (Stock Code: 920662, Stock Abbreviation: Fangsheng Co.) convened the first extraordinary general meeting of shareholders of 2026 on April 3, 2026, in the company’s conference room. The meeting was convened by the board of directors of the company and chaired by Mr. Ding Yunlong. The meeting adopted a combination of on-site voting and online voting. The core agenda of this meeting was to deliberate on the proposals related to the guarantee amount for commodity hedging business.

The meeting attendance information shows that a total of 10 shareholders attended or were authorized to attend this shareholders’ meeting, holding a total of 62,323,375 shares with voting rights, accounting for 71.1860% of the company’s total shares with voting rights; among them, 1 shareholder participated via online voting, holding 4,060 shares with voting rights, accounting for 0.0046% of the company’s total shares with voting rights. All 7 directors currently serving in the company attended the meeting, the board secretary attended the meeting, and other senior management personnel attended as observers; independent director Liu Darong attended by communication means due to work reasons.

Both of the two proposals reviewed at this meeting were approved by all votes. The details are as follows:

Neither of the two proposals involves related-party transactions, and voting is not subject to avoidance.

Lawyers Zhao Sheng and Ge Qin Zhi of Shanghai Guangfa (Wuxi) Law Firm witnessed this meeting and held that the procedures for convening and holding the meeting, the qualifications of the convenor and attendees, as well as the voting procedures and results, are all lawful and valid.

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