Shanghai Zhenhua Heavy Industries (Group) Co., Ltd. Progress Announcement on Repurchasing Part of the Company's A-shares through Centralized Price Trading

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Stock Code: 600320 Stock Abbreviation: Zhenhua Heavy Industries Announcement Number: Lin 2026-005

900947 | Zhenhua B Shares

Shanghai Zhenhua Heavy Industries (Group) Co., Ltd.

Progress on the Repurchase of Certain A-Shares of the Company through Centralized Bidding

Announcement

The Board of Directors of the Company and all directors guarantee that the content of this announcement does not contain any false records, misleading statements, or major omissions, and bear legal responsibility for the authenticity, accuracy, and completeness of its content.

Important Content Reminder:

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1. Basic Information on the Repurchased Shares

Shanghai Zhenhua Heavy Industries (Group) Co., Ltd. (hereinafter referred to as Zhenhua Heavy Industries or the Company) has convened the 11th meeting of the 9th Board of Directors on April 27, 2025, and the 2024 Annual General Meeting on May 28, 2025, to review and approve the proposal on “Review of the Proposal for the Repurchase of Certain A-Shares of the Company,” agreeing that within 12 months from the date of the approval of this share repurchase plan by the shareholders’ meeting, the Company will use its own funds or self-raised funds to repurchase the RMB ordinary shares (A-shares) issued by the Company through the Shanghai Stock Exchange’s stock trading system via centralized bidding, with the repurchased shares to be used for cancellation and reduction of the Company’s registered capital. The upper limit for the repurchase price is RMB 6.93 per share, and the total amount of funds for the repurchase will not be less than RMB 50 million (inclusive) and not more than RMB 100 million (inclusive).

According to the Company’s “Repurchase Report for the Repurchase of Certain A-Shares of the Company through Centralized Bidding,” if the Company implements capital reserve conversion into share capital, distributes stock or cash dividends, or other ex-rights and ex-dividend matters during the repurchase period, the upper limit of the repurchase price will be adjusted accordingly according to the relevant regulations of the China Securities Regulatory Commission and the Shanghai Stock Exchange from the date of the stock price ex-rights and ex-dividends. Due to the Company’s implementation of the 2024 annual equity distribution and the 2025 semi-annual equity distribution, the upper limit of the repurchase price has been adjusted from not exceeding RMB 6.93 per share (inclusive) to not exceeding RMB 6.86 per share (inclusive).

For specific details, please refer to the Company’s announcements disclosed on the Shanghai Stock Exchange website (www.sse.com.cn) on April 28, 2025, May 29, 2025, June 17, 2025, June 19, 2025, July 2, 2025, and December 30, 2025, including “Announcement on the Proposal for the Repurchase of Certain A-Shares of the Company through Centralized Bidding” (Announcement Number: Lin 2025-018), “Announcement of Resolutions of the 2024 Annual General Meeting” (Announcement Number: Lin 2025-022), “Implementation Announcement of the 2024 Annual Equity Distribution” (Announcement Number: Lin 2025-027), “Repurchase Report for the Repurchase of Certain A-Shares of the Company through Centralized Bidding” (Announcement Number: Lin 2025-028), “Progress Announcement on the Repurchase of Certain A-Shares of the Company through Centralized Bidding” (Announcement Number: Lin 2025-030), “Implementation Announcement of the 2025 Semi-Annual Equity Distribution” (Announcement Number: Lin 2025-060).

2. Progress of the Repurchase of Shares

In accordance with the “Rules on Share Repurchase by Listed Companies,” “Self-Regulatory Guidelines No. 7 on Share Repurchase by Listed Companies on the Shanghai Stock Exchange,” and other relevant regulations, the Company announces the progress of share repurchase as of March 17, 2026, as follows:

From March 1 to March 17, 2026, the Company repurchased 1,979,100 shares through centralized bidding, accounting for 0.0376% of the total share capital of the Company, with the highest purchase price being RMB 5.36 per share, the lowest price being RMB 4.95 per share, and the total amount paid being RMB 9,998,945.00 (excluding transaction fees).

As of March 17, 2026, the total number of shares repurchased by the Company has reached 10,651,162 shares, accounting for 0.2022% of the total share capital of the Company, with the highest purchase price being RMB 5.36 per share, the lowest price being RMB 4.42 per share, and the total amount paid being RMB 49,995,428.72 (excluding transaction fees). This repurchase complies with the relevant legal regulations and the requirements of the Company’s repurchase plan.

3. Other Matters

The Company will strictly follow the “Rules on Share Repurchase by Listed Companies” and “Self-Regulatory Guidelines No. 7 on Share Repurchase by Listed Companies on the Shanghai Stock Exchange,” and will make repurchase decisions and implement them based on market conditions during the repurchase period, while timely fulfilling information disclosure obligations based on the progress of the share repurchase matters. Investors are advised to pay attention to investment risks.

This announcement is hereby made.

Board of Directors of Shanghai Zhenhua Heavy Industries (Group) Co., Ltd.

March 18, 2026

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