Vivi Food and Beverage Co., Ltd. Announcement on Receiving Administrative Regulatory Measures

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Security Code: 600300 Stock Short Name: WeiWei Food & Beverage Announcement No.: Lin 2026-003

WeiWei Food & Beverage Co., Ltd.

Announcement on Receipt of Administrative Regulatory Measures

This company’s board of directors and all directors guarantee that this announcement contains no false statements, misleading statements, or material omissions, and assume legal responsibility for the truthfulness, accuracy, and completeness of the contents.

WeiWei Food & Beverage Co., Ltd. (hereinafter referred to as the “Company”) received on April 3, 2026 a “Decision on Administrative Regulatory Measures” (〔2026〕 No. 32) issued by the Jiangsu Office of the China Securities Regulatory Commission (hereinafter referred to as the “Jiangsu CSRC”) (hereinafter referred to as the “Decision Letter”). The specific details are now announced as follows:

I. Specific Content of the Decision Letter

After investigation, during 2022 to 2024, WeiWei Food & Beverage Co., Ltd. (hereinafter referred to as the Company) applied an inappropriate approach for recognizing revenue from certain grain and oil trading businesses—using the gross method and net method—not in compliance with Article 34 of the “Accounting Standards for Business Enterprises No. 14—Revenue,” resulting in inaccurate disclosure of operating revenue and operating costs in the Company’s quarterly report for the first quarter, the semiannual report, and the quarterly report for the third quarter in 2022, 2023, and 2024. The relevant conduct violated the provisions of Article 3, Paragraph 1 of the “Measures for the Administration of Information Disclosure by Listed Companies” (CSRC Order No. 182, hereinafter referred to as the “Information Disclosure Measures”). The Company’s Chairman Ren Dong, General Manager Zhao Huqin, and Chief Financial Officer Zhao Changlei failed to perform their duties diligently and responsibly, violating the provisions of Article 4 of the “Information Disclosure Measures,” and bear primary responsibility for the above-mentioned violations.

Pursuant to Article 52 of the “Information Disclosure Measures,” this office decided to take an administrative regulatory measure of ordering rectification against the Company, take an administrative regulatory measure of issuing warning letters against Ren Dong, Zhao Huqin, and Zhao Changlei, and record this in the integrity archive for the securities and futures market. You should attach great importance to the above issues, take effective measures to carry out rectification in a practical manner, strengthen your study of securities laws and regulations, improve your level of financial accounting and awareness of standardized operation, prevent such violations from occurring again, and submit a written rectification report to this office within 10 working days from the date of receipt of this Decision Letter.

If you are not satisfied with these regulatory measures, you may apply for administrative reconsideration with the China Securities Regulatory Commission within 60 days from the date of receipt of this Decision Letter, and you may also 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 administrative regulatory measures will not stop being executed.

II. Other Explanations

The Company has corrected the prior accounting error matters involved in the “Decision Letter.” For details, see the Company’s announcement published on April 4, 2026, “Announcement on Correction of Prior Accounting Errors” (Announcement No.: Lin 2026-004).

The Company and the relevant personnel attach great importance to the issues pointed out in the “Decision Letter.” They will strictly comply with the requirements of the Jiangsu CSRC to strengthen their study of securities laws and regulations, strictly implement relevant provisions such as the “Accounting Standards for Business Enterprises,” further improve their level of financial accounting and awareness of standardized operation, avoid similar incidents from occurring again, effectively safeguard the interests of the Company and all shareholders, and continuously promote the Company’s high-quality development.

The matters related to this receipt of the “Decision Letter” will not affect the Company’s normal business and management activities. The Company will strictly fulfill its information disclosure obligations in a timely manner in accordance with relevant regulations. Investors are kindly requested to invest rationally and pay attention to investment risks.

This is hereby announced.

WeiWei Food & Beverage Co., Ltd.

Board of Directors

April 4, 2026

Security Code: 600300 Stock Short Name: WeiWei Food & Beverage Announcement No.: Lin 2026-004

WeiWei Food & Beverage Co., Ltd.

Announcement on Correction of Prior Accounting Errors

This company’s board of directors and all directors guarantee that this announcement contains no false statements, misleading statements, or material omissions, and assume legal responsibility for the truthfulness, accuracy, and completeness of the contents.

Key Matters Covered by This Announcement:

● The correction of accounting errors in this instance involves adjusting the operating revenue and operating costs in the Company’s first-quarter reports, interim reports, and third-quarter reports for 2022, 2023, and 2024. It will not affect the Company’s financial positions and business results such as total assets, total liabilities, net assets, net profit attributable to shareholders of listed companies, and net cash flow from operating activities.

WeiWei Food & Beverage Co., Ltd. (hereinafter referred to as “WeiWei Food & Beverage” or the “Company”) convened the 12th meeting of the Ninth Session of the Board of Directors on April 3, 2026, and approved the resolution on “Correction of Prior Accounting Errors.” In accordance with relevant provisions including the “Accounting Standards for Business Enterprises No. 28—Changes in Accounting Policies, Accounting Estimates and Correction of Errors,” and the “Rules for the Preparation and Reporting of Financial Information for Public Issuance Securities by Companies No. 19—Financial Information Corrections and Related Disclosures,” among others, the Company adjusted the operating revenue and operating costs in its first-quarter reports, interim reports, and third-quarter reports for 2022 through 2024. The Company now provides the following explanation regarding the correction of prior accounting errors:

I. Overview of the Correction of Prior Accounting Errors

(I) Reasons for the Correction of Prior Accounting Errors

The Company’s financial statements for the first three quarters of 2022, 2023, and 2024 did not accurately distinguish whether the Company’s role in certain transactions was that of the primary obligor or the agent. As a result, there were judgment biases as to whether the net method or the gross method should be used to account for certain businesses. For more rigorous implementation of the relevant requirements of the “Accounting Standards for Business Enterprises,” the Company conducted more stringent judgments regarding the substance of the transactions for the relevant businesses. Based on the principle of prudence, the Company accounts for businesses in transactions where it acts as the primary obligor using the gross method, and accounts for businesses in transactions where it acts as the agent using the net method. On April 3, 2026, the Company convened the 12th meeting of the Ninth Session of the Board of Directors, which deliberated and approved the resolution on “Correction of Prior Accounting Errors,” and made retrospective adjustments to the Company’s financial statements for the first three quarters of 2022, 2023, and 2024.

(II) Specific Circumstances of the Correction of Prior Accounting Errors and the Impact on the Company

The correction of prior accounting errors in this instance involves adjusting the operating revenue and operating costs in the Company’s first-quarter reports, interim reports, and third-quarter reports for 2022 through 2024. Accordingly, it reduces operating revenue and operating costs for the first quarter of 2022 by 117,461,080.27 yuan, increases operating revenue and operating costs for the interim period of 2022 by 31,360,493.78 yuan, reduces operating revenue and operating costs for the third quarter of 2022 by 105,644,114.14 yuan, reduces operating revenue and operating costs for the first quarter of 2023 by 128,915,889.33 yuan, reduces operating revenue and operating costs for the interim period of 2023 by 247,004,028.63 yuan, reduces operating revenue and operating costs for the third quarter of 2023 by 448,238,498.78 yuan, reduces operating revenue and operating costs for the first quarter of 2024 by 126,056,810.02 yuan, reduces operating revenue and operating costs for the interim period of 2024 by 71,911,622.40 yuan, and increases operating revenue and operating costs for the third quarter of 2024 by 33,705,545.95 yuan. This correction of prior accounting errors and retrospective adjustments will not affect the Company’s financial positions and business results such as total assets, total liabilities, net assets, net profit attributable to shareholders of listed companies, and net cash flow from operating activities. The impacts on the financial statement line items for the first quarter, interim period, and third quarter of 2022, 2023, and 2024 are as follows:

1. Impact on the consolidated income statement for the first quarter, interim period, and third quarter of 2022

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2. Impact on the consolidated income statement for the first quarter, interim period, and third quarter of 2023

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3. Impact on the consolidated income statement for the first quarter, interim period, and third quarter of 2024

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II. Auditors’ Conclusive Opinion

Zhongxinghua Certified Public Accountants (Special General Partnership) issued an audit report titled “Audit Report on the Special Explanation on the Correction of Prior Accounting Errors of WeiWei Food & Beverage Co., Ltd.” (Zhongxinghua Hezi (2026) No. 00000999). They consider that: The “Special Explanation on Correction of Prior Accounting Errors” prepared by the Company complies with relevant provisions such as the “Accounting Standards for Business Enterprises No. 28—Changes in Accounting Policies, Accounting Estimates and Correction of Errors” and the “Rules for the Preparation and Reporting of Financial Information for Public Issuance Securities by Companies No. 19—Financial Information Corrections and Related Disclosures,” and truthfully reflects the correction of prior accounting errors of WeiWei Food & Beverage.

III. Deliberation by the Audit Committee

The Company’s Audit Committee under the Ninth Session of the Board of Directors approved the resolution on “Correction of Prior Accounting Errors.” They consider that: The correction of prior accounting errors made by the Company in this instance complies with relevant provisions and requirements such as the “Accounting Standards for Business Enterprises No. 28—Changes in Accounting Policies, Accounting Estimates and Correction of Errors” and the “Rules for the Preparation and Reporting of Financial Information for Public Issuance Securities by Companies No. 19—Financial Information Corrections and Related Disclosures,” and the corrected information can more objectively and fairly reflect the Company’s financial position and operating results. The Audit Committee agrees to the Company’s correction of prior accounting errors and also agrees to submit this resolution to the Board of Directors for deliberation.

IV. Other Explanations

For the financial statements and notes involved in the above correction of prior accounting errors, please refer to “WeiWei Food & Beverage’s Financial Statements and Notes after Correction of Prior Accounting Errors,” which are disclosed on the Shanghai Stock Exchange website.

This is hereby announced.

WeiWei Food & Beverage Co., Ltd.

Board of Directors

April 4, 2026

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