Zhejiang Golden Eagle Co., Ltd. 2025 Annual Report Summary

Company Code: 600232 Company Short Name: Golden Eagle Co., Ltd.

Section I Important Notices

1. The summary of this annual report comes from the full annual report. In order to fully understand the Company’s operating results, financial position, and future development plans, investors should carefully read the full annual report on the website www.sse.com.cn.

2. The board of directors of the Company, as well as the directors and senior management personnel, warrant that the contents of the annual report are true, accurate, and complete, and that there are no false records, misleading statements, or material omissions, and they shall bear individual and joint legal responsibility.

3. All directors of the Company attend the meeting of the board of directors.

4. Tianjian Certified Public Accountants (Special General Partnership) has issued an audit report with a standard unmodified (unqualified) opinion for the Company.

5. The profit distribution proposal for the current reporting period adopted by the board of directors, or the proposal for conversion of capital reserve into share capital

The Company’s 2025 profit distribution proposal is: no cash dividends will be distributed, no bonus shares will be issued, and no shares will be converted from capital reserve.

As of the end of the reporting period, the parent company has circumstances relating to undistributed losses to be made up and the impact of such circumstances on matters such as the Company’s dividend distribution

□Applicable √Not applicable

Section II Basic Information of the Company

1. Company Profile

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2. Summary of the Company’s Main Business During the Reporting Period

3. Textile Machinery Manufacturing

The textile machinery manufacturing industry is a technology-intensive, innovation-driven industry. The level of technology directly affects aspects such as product performance, quality, efficiency, and environmental protection, thereby determining the competitiveness and development prospects of enterprises and the industry. Since 2025, due to the slowdown in global economic growth and fluctuations in downstream demand in the textile and apparel market, the industry’s main economic indicators for domestic textile machinery are facing a certain level of pressure. According to data from the China Textile Machinery Association, in the first three quarters of 2025, revenues of China’s above-scale textile machinery enterprises decreased by 4.38% year over year, and total profit decreased by 17.82% year over year. However, exports of textile machinery products achieved a significant increase. According to statistics from China’s General Administration of Customs, in the period from January to September 2025, China exported USD 200k worth of textile machinery, up 35.33% year over year, indicating that the international competitiveness of China’s textile machinery machinery products has been steadily improving. In the short term, the industry will still face many uncertainties in the macro environment and ongoing operating pressure, but the fundamental trend of long-term improvement has not changed. Opportunities for development mainly lie in demand for intelligent upgrades, expansion into emerging markets, and the field of industrial textiles. Intelligentization, green practices, and high-end development have become the three core, irreversible trends, guiding the industry’s future direction. China’s textile industry has a solid industrial base and resilience in development. With support from national policies, enhanced enterprise strength, and increased market demand, the industry will have new opportunities. China’s textile machinery industry is expected to maintain steady development, and the pace of industrial transformation and upgrading will further accelerate.

The textile machinery segment is a business in which the Company has competitive advantages. It has independent innovation capabilities. After the Company acquired the world’s largest flax/linen textile machinery manufacturing manufacturer, the United Kingdom’s MAKIE, the Company’s technology strength in the flax/linen textile machinery equipment business has been further strengthened and is at an international advanced level. The Company has gradually converted its technical advantages into market-share results. Currently, the Company is a leader in the industry in flax/linen spinning equipment and silk(throwing)/reeling(sericulture-related) spinning equipment.

2. Flax/ Linen Textile

Flax/linen textile is a manufacturing industry in China with relatively strong advantages. Currently, more than 70% of the world’s flax fibers are processed into textile apparel in China, and finished products cover the entire world. Flax/linen is the largest category in the jute/ramie/flax textile industry, accounting for more than 70% of the economic scale of the flax/linen textile industry. Influenced by the European flax/linen poor harvest in 2023, global flax/linen prices surged at one point. However, in 2024–2025, as production in Europe and Egypt recovered, prices for flax/linen raw materials rationally declined from historical highs. As the inventory impairment pressure formed by earlier high-price procurement gradually released, the industry has entered a recovery cycle. China has a large consumer base. As residents’ consumption concepts continue to evolve, requirements for textile and apparel products are gradually shifting toward high quality, personalization, fashionability, comfort, health and environmental protection. The high-quality, comfortable, and green/ecological characteristics embodied in flax/linen textiles align with the direction of consumption upgrading. In today’s world where green products are leading a new trend in textile and apparel consumption, flax/linen textiles with natural health-care functions have a broad outlook. The development of flax/linen textile products and the continuous improvement of the industrial chain, along with ongoing technological progress and changes in consumption concepts, are all closely related. Flax/linen textile enterprises can continuously improve aesthetic design in their products to meet consumers’ ever-changing needs.

Through its leading advantages in equipment capability and flax/linen textile technology, the Company has gained full market recognition in cost control as well as product quality and performance. “Golden Eagle” flax/linen yarn has won the title of a Chinese Famous Brand product, and the “Golden Eagle” trademark has become a well-known trademark in China. The Company has a high market share in the flax/linen textile industry and stable customers. At the same time, based on its own flax/linen yarn, it expands into flax/linen fabric weaving and further processing, thereby further enhancing product added value and the Company’s profitability.

3. Plastic Machinery Manufacturing

Plastic machinery manufacturing refers to all kinds of machinery and equipment used in the plastic processing industry. According to the production process of plastic products, plastic machinery can be divided into four major categories: plastic compounding machinery, molding machinery, secondary processing machinery, and processing auxiliary machinery or equipment. Among them, plastic molding machinery is also called plastic primary molding machinery. Based on plastic processing technology, plastic machinery can further be divided into three major types: extruders, injection molding machines, and blow molding machines. China is the world’s largest producer and consumer of injection molding machines, with a large manufacturing base. The products not only meet domestic demand but are also exported in large quantities to Southeast Asia, North America, Europe, and other regions. China’s injection molding machine industry is currently in a key stage transitioning from a high-speed growth period to a mature period. The industry’s growth drivers are shifting from simple scale expansion and quantity growth to high-quality development that depends on technological innovation, product quality improvement, and brand value creation. Competition among enterprises has moved from price wars to a comprehensive contest of capabilities in technology, brand, service, and overall solution offerings. As an important industrial equipment, injection molding machines have an industry cycle that is highly correlated with the macroeconomy and the business outlook of downstream industries. Golden Eagle Plastic Machinery has always adhered to product R&D and improving performance as an important breakthrough point. Combining with national strategic needs, it focuses on developing efficient, energy-saving, and intelligent functional products, and is committed to building a benchmark enterprise in the plastic machinery industry that provides customers with comprehensive solutions.

(I) Main Business

During the reporting period, the Company’s main businesses include R&D, manufacturing, and sales of complete sets of textile machinery equipment for hemp, wool, and silk(sericulture-related) spinning; flax processing (for flax/linen spinning) and silk(sericulture-related) spinning, weaving, and garment making; R&D, manufacturing, and sales of a series of injection molding machinery equipment; and R&D, manufacturing, and sales of lithium battery cathode materials.

(II) Operating Model

The Company’s textile machinery business model is an integrated approach covering R&D, design, material procurement, manufacturing, and sales. The Company’s textile products operating model is to conduct market research and set annual operating goals and plans. After purchasing raw materials, production is carried out through various divisions and subsidiaries, producing different numbers of ends and models of flax/linen yarn, silk(sericulture-related) filament, and fabrics and other products, to meet and sell to customers with different needs. The Company has established a dedicated textile sales department internally, with separate departments for domestic sales and import/export business. For domestic sales, it mainly handles domestic business, while the import/export department handles global business, including the Company’s main sales locations (Europe, Japan, India, Turkey, etc.). For knitted and woven garment exports abroad, customers provide design and brands, and production is organized based on orders. The operating model for the injection molding machine business is an integrated approach covering R&D, design, material procurement, manufacturing, and sales.

3. The Company’s Main Accounting Data and Financial Indicators

3.1 Main Accounting Data and Financial Indicators for the Past Three Years

Unit: yuan Currency: RMB

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3.2 Main Accounting Data by Quarter During the Reporting Period

Unit: yuan Currency: RMB

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Explanation of Differences Between Quarterly Data and Previously Disclosed Periodic Report Data

□Applicable √Not applicable

4. Shareholder Information

4.1 Total number of ordinary shareholders at the end of the reporting period, the total number of preferred shareholders with voting rights restored at the end of the month prior to the annual report disclosure, the total number of shareholders holding special voting rights, and information on the top 10 shareholders

Unit: shares

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4.2 Schematic diagram of property rights and control relationship between the Company and its controlling shareholder

√Applicable □Not applicable

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4.3 Schematic diagram of property rights and control relationship between the Company and its actual controller

√Applicable □Not applicable

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4.4 Total number of preferred shareholders at the end of the reporting period and information on the top 10 shareholders

□Applicable √Not applicable

5. Corporate Bonds

□Applicable √Not applicable

Section III Important Matters

1. In accordance with the principle of materiality, the Company shall disclose any material changes in its operating conditions during the reporting period, as well as any matters that occurred during the reporting period that have a material impact on the Company’s operating conditions and are expected to have a material impact in the future.

During the reporting period, the Company achieved operating revenue of RMB 140M in total, an increase of 7.14% compared with the previous year; net profit attributable to shareholders of listed companies was RMB 20.8362 million, a decrease of 6.79% compared with the previous year.

2. If, after the annual report is disclosed, there is any risk warning related to delisting or termination of listing circumstances, the Company shall disclose the reasons that lead to the risk warning for delisting or the termination of listing.

□Applicable √Not applicable

Security Code: 600232 Security Short Name: Golden Eagle Co., Ltd. Announcement No.: 2026-004

Zhejiang Golden Eagle Co., Ltd.

Announcement on Provision for Asset Impairment

The board of directors of this Company and all directors warrant that the contents of this announcement contain no false records, misleading statements, or material omissions, and assume individual and joint responsibility for the authenticity, accuracy, and completeness of the contents.

Zhejiang Golden Eagle Co., Ltd. (hereinafter referred to as the “Company”) convened the 9th meeting of the 11th session of the board of directors on March 31, 2026, which considered and approved the “Proposal on Provision for Asset Impairment”. The relevant matters are hereby announced as follows:

I. Overview of This Provision for Asset Impairment

In order to objectively, fairly, and accurately reflect the Company’s financial position in 2025 and the value of various assets, in accordance with the relevant provisions of the “Corporate Accounting Standards” and the Company’s accounting policies, and following the principle of prudence, the Company carried out a review of relevant assets including accounts receivable notes, accounts receivable, other receivables, inventories, and the Company’s long-term equity investments in the parent company, and conducted impairment tests for assets by category. Now, the Company will make provisions for impairment corresponding to the assets that show impairment indicators.

II. Specific Circumstances of This Provision for Asset Impairment

(I) Accounts Receivable Notes, Accounts Receivable, and Other Receivables

Pursuant to “Corporate Accounting Standards No. 22—Financial Instruments Recognition and Measurement”: For financial assets measured at amortized cost and receivables financing measured at fair value with changes recorded in other comprehensive income, impairment losses are recognized based on expected credit losses.

This time, provisions for bad debt will be made for accounts receivable notes, accounts receivable, and other receivables, etc. The specific details are as follows:

Unit: yuan

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(II) Inventories

Inventories are measured at the lower of cost and net realizable value on the balance sheet date. When the net realizable value is lower than the cost, provisions for inventory write-down are made. The specific details are as follows:

1. Specific basis for determining net realizable value, and the reasons for reversal or write-off of inventory write-down provisions during the current period

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2. Details of inventory write-down provisions

Unit: yuan

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(III) Impairment Provisions for Long-Term Equity Investments in the Parent Company’s Statements

According to the “Corporate Accounting Standards” and the Company’s accounting policies, at the end of 2025, impairment tests were conducted on long-term equity investments in subsidiaries. Long-term equity investment impairment provisions were made for the following subsidiaries:

Unit: yuan

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III. Impact on the Company of This Provision for Bad Debt Provisions and Asset Impairment Provisions

(I) Impact on Consolidated Financial Statements

The situation of credit impairment losses and inventory write-down losses is as follows:

Unit: yuan

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(III) Impact on the Parent Company’s Financial Statements

The parent company’s financial statements have recognized an asset impairment loss of RMB 61,766,408.42 due to the above long-term equity investment impairment provisions. This is offset in the consolidated financial statements. The recognition of this impairment provision does not have a direct impact on the Company’s net profit for the fiscal year 2025 in the consolidated financial statements.

IV. Opinions of the Audit Committee of the Board of Directors and the Board of Directors

1. Opinion of the audit committee of the board of directors: The Company’s provision for asset impairment in this instance complies with the “Corporate Accounting Standards” and relevant accounting policies. After the provision, the Company’s financial statements can objectively and fairly reflect the Company’s asset conditions and operating results. The audit committee agrees to submit this proposal to the board of directors for consideration.

2. Opinion of the board of directors: The Company’s provision for asset impairment in this instance complies with the “Corporate Accounting Standards,” relevant accounting policies, and the Company’s actual circumstances. The basis for making the impairment provisions is sufficient, and it can objectively and fairly reflect the Company’s asset conditions and operating results. The board of directors agrees to make the Company’s provision for asset impairment as proposed.

This is hereby announced.

Zhejiang Golden Eagle Co., Ltd.

Board of Directors

April 2, 2026

Security Code: 600232 Security Short Name: Golden Eagle Co., Ltd. Announcement No.: 2026-002

Zhejiang Golden Eagle Co., Ltd.

Resolutions of the 9th Meeting of the 11th Session of the Board of Directors

The board of directors of this Company and all directors warrant that the contents of this announcement contain no false records, misleading statements, or material omissions, and assume individual and joint responsibility for the authenticity, accuracy, and completeness of the contents.

Zhejiang Golden Eagle Co., Ltd. (hereinafter referred to as the “Company”) issued the notice of the 9th meeting of the 11th session of the board of directors to all directors on March 21, 2026 by means of email and personal delivery, and convened the meeting by communication means on March 31, 2026. There were 9 directors who should participate in voting; 9 directors actually participated in voting. The Company’s senior management personnel attended the meeting. The convening and holding procedures of the meeting comply with the relevant provisions of the “Company Law of the People’s Republic of China” and the “Articles of Association” and the meeting is lawful and effective.

The meeting was presided over by the chairman, Fu Guoding. After deliberation by the directors attending the meeting, the following resolutions were passed by recorded vote:

I. Consideration and approval of the “2025 Annual Work Report of the General Manager”

Voting results: 9 votes in favor; 0 votes abstaining; 0 votes against.

II. Consideration and approval of the “2025 Annual Work Report of the Board of Directors”

The Company’s independent directors submitted to the board of directors the “2025 Annual Report of Independent Directors’ Duties”, and will present the report at the Company’s 2025 annual general meeting of shareholders. For specific details, please refer to the announcements on the website of the Shanghai Stock Exchange.

Voting results: 9 votes in favor; 0 votes abstaining; 0 votes against.

This proposal still needs to be submitted to the Company’s 2025 annual general meeting of shareholders for consideration.

III. Consideration and approval of the “2025 Annual Report and Its Summary”

This proposal has been reviewed by the audit committee of the board of directors and has received prior approval/acceptance. For specific details, please refer to the announcements on the website of the Shanghai Stock Exchange.

Voting results: 9 votes in favor; 0 votes abstaining; 0 votes against.

This proposal still needs to be submitted to the Company’s 2025 annual general meeting of shareholders for consideration.

IV. Consideration and approval of the “2025 Profit Distribution Proposal”

The Company’s 2025 profit distribution proposal is: no cash dividends will be distributed, no bonus shares will be issued, and no shares will be converted from capital reserve.

For specific details, please refer to the “Announcement on the Company’s 2025 Profit Distribution Proposal” disclosed on the Company’s website on the same day on the Shanghai Stock Exchange (Announcement No. 2026-003).

Voting results: 9 votes in favor; 0 votes abstaining; 0 votes against.

This proposal still needs to be submitted to the Company’s 2025 annual general meeting of shareholders for consideration.

V. Consideration and approval of the “Proposal on the Compensation of the Company’s Directors and Senior Management for 2025”

For the compensation of the Company’s directors and senior management for 2025, see the full text of the annual report, “Section IV Corporate Governance—‘IV. Information on Directors and Senior Management Personnel’”.

This proposal has been considered and approved by the board’s compensation and performance committee.

All directors abstained from voting and the proposal was directly submitted for consideration by the Company’s 2025 annual general meeting of shareholders.

VI. Consideration and approval of the “Proposal to Formulate the ‘Compensation Management System for the Company’s Directors and Senior Management’”

For specific details, please refer to the “Zhejiang Golden Eagle Co., Ltd. Compensation Management System for Directors and Senior Management Personnel” disclosed on the Shanghai Stock Exchange website on the same day.

Voting results: 9 votes in favor; 0 votes abstaining; 0 votes against

VII. Consideration and approval of the “2025 Internal Control Evaluation Report of the Company”

This proposal has been reviewed by the audit committee of the board of directors and has received prior approval/acceptance. For specific details, please refer to the “2025 Internal Control Evaluation Report of the Company” disclosed on the Shanghai Stock Exchange website on the same day.

Voting results: 9 votes in favor; 0 votes abstaining; 0 votes against.

VIII. Consideration and approval of the “Proposal on Provision for Asset Impairment”

This proposal has been reviewed by the audit committee of the board of directors and has received prior approval/acceptance. For specific details, please refer to the “Announcement on Provision for Asset Impairment” disclosed on the Shanghai Stock Exchange website on the same day (Announcement No. 2026-004).

Voting results: 9 votes in favor; 0 votes abstaining; 0 votes against.

IX. Consideration and approval of the “Proposal on the Company’s Reappointment of the Accounting Firm”

After the audit committee of the board of directors proposed and received prior approval/acceptance, the board of directors agreed to reappoint Tianjian Certified Public Accountants (Special General Partnership) as the Company’s audit institution for the 2026 fiscal year. It will be responsible for auditing the Company’s 2026 financial report and internal control report. The term is one year, and the shareholders’ meeting is requested to authorize the management to negotiate and determine the audit fees based on the Company’s actual circumstances.

For specific details, please refer to the “Announcement on the Reappointment of the Accounting Firm” disclosed on the Shanghai Stock Exchange website on the same day (Announcement No. 2026-005).

Voting results: 9 votes in favor; 0 votes abstaining; 0 votes against.

This proposal still needs to be submitted to the Company’s 2025 annual general meeting of shareholders for consideration.

X. Consideration and approval of the “Report on the 2025 Performance of Duties by the Company’s Audit Committee of the Board of Directors”

For specific details, please refer to the “Report on the 2025 Performance of Duties by the Company’s Audit Committee of the Board of Directors” disclosed on the Shanghai Stock Exchange website on the same day.

Voting results: 9 votes in favor; 0 votes abstaining; 0 votes against.

XI. Consideration and approval of the “Assessment Report on the Performance of Duties of the Accounting Firm by the Company for 2025”

For specific details, please refer to the “Assessment Report on the Performance of Duties of the Accounting Firm by the Company” disclosed on the Shanghai Stock Exchange website on the same day.

Voting results: 9 votes in favor; 0 votes abstaining; 0 votes against.

XII. Consideration and approval of the “Special Opinion on the Independence of the Company’s Independent Directors for 2025”

After verification of the appointment backgrounds and relevant self-check documents signed by independent directors Yang Licheng, Zhang Shichao, and Xu Shengjun, the above personnel do not hold any position in the Company other than that of independent director, and they do not hold any position in the Company’s major shareholder. There are no relationships of interest or other relationships that may impair their independent and objective judgment between them and the Company or its major shareholders. They comply with the relevant requirements regarding independence of independent directors in the “Measures for the Administration of Independent Directors of Listed Companies” and in “Shanghai Stock Exchange Listing Rules for Self-Regulation—Guidelines No. 1 for Standardized Operation”.

For specific details, please refer to the “Special Opinion on the Independence of the Company’s Independent Directors for 2025” disclosed on the Shanghai Stock Exchange website on the same day.

Related directors Yang Licheng, Zhang Shichao, and Xu Shengjun have withdrawn from voting on this proposal.

Voting results: 6 votes in favor; 0 votes abstaining; 0 votes against.

XIII. Consideration and approval of the “Proposal on Expected Daily Related Party Transactions for 2026 of the Company”

Related directors Fu Guoding, Chen Weiyi, Pan Mingzhong, Shao Yanfeng, Chen Shijun, and Chen Zhaolong have withdrawn from voting on this proposal. This proposal has been reviewed by the special meeting of independent directors and has received prior approval/acceptance. For specific details, please refer to the “Announcement on Expected Daily Related Party Transactions for 2026 of the Company” disclosed on the Shanghai Stock Exchange website on the same day (Announcement No. 2026-006).

Voting results: 3 votes in favor; 0 votes abstaining; 0 votes against.

XIV. Consideration and approval of the “Proposal on the Company and Its Subsidiaries’ Application for Financing and Credit Line Limits”

According to the Company’s business plan and financial position, the Company and its subsidiaries plan to apply to banks and other financial institutions for a comprehensive financing and credit line limit with a total amount not exceeding RMB 1.0 billion. The scope of credit line business includes but is not limited to working capital loans, project loans, domestic factoring, bank acceptance bills, letters of credit, and other businesses. Within the maximum comprehensive financing and credit line limit mentioned above, starting from the date when it is approved by the Company’s 2025 annual general meeting of shareholders, all signed documents related to financing and credit lines will remain valid for three years (until before the convening date of the 2028 annual general meeting of shareholders). The credit line limit can be used on a revolving basis. The financing and credit line limit applied for by the Company does not equal the Company’s actual financing amount; the actual financing amount within the credit line limit will be determined by the actual financing amounts incurred between each financial institution and the Company. The Company and its subsidiaries may办理融资 through asset pledges and collateral arrangements. The term for the creditor’s rights under maximum-amount pledges/collateral shall not exceed five years at most. The amount and term for maximum-amount collateral/pledge shall be based on the appraised value of the collateral/pledged assets and the relevant documents signed with the financial institutions. The specific financing amount will be determined according to the actual capital needs for production and operations. For credit lines and financing beyond this limit, they will be implemented only after being separately considered and approved by the board of directors or the shareholders’ meeting in accordance with the relevant regulations. Authorize the chairman of the Company or the corresponding legal representative of the Company to sign the above related legal documents.

Voting results: 9 votes in favor; 0 votes abstaining; 0 votes against.

This proposal still needs to be submitted to the Company’s 2025 annual general meeting of shareholders for consideration.

XV. Consideration and approval of the “Proposal on Providing Guarantees for Subsidiaries and External Guarantees by Subsidiaries”

For specific details, please refer to the “Announcement on Providing Guarantees for Subsidiaries and External Guarantees by Subsidiaries” disclosed on the Shanghai Stock Exchange website on the same day (Announcement No. 2026-007).

Voting results: 9 votes in favor; 0 votes abstaining; 0 votes against.

This proposal still needs to be submitted to the Company’s 2025 annual general meeting of shareholders for consideration.

XVI. Consideration and approval of the “Proposal to Convene the Company’s 2025 Annual General Meeting of Shareholders”

The board of directors agrees to convene the Company’s 2025 annual general meeting of shareholders, and authorizes the chairman of the Company to determine, when appropriate, the specific time for convening the Company’s 2025 annual general meeting of shareholders and the related arrangements, and to issue the notice of convening the Company’s 2025 annual general meeting of shareholders after the determination.

Voting results: 9 votes in favor; 0 votes abstaining; 0 votes against

This is hereby announced.

Zhejiang Golden Eagle Co., Ltd.

Board of Directors

April 2, 2026

Security Code: 600232 Security Short Name: Golden Eagle Co., Ltd. Announcement No.: 2026-003

Zhejiang Golden Eagle Co., Ltd.

Announcement on the Company’s 2025 Profit Distribution Proposal

The board of directors of this Company and all directors warrant that the contents of this announcement contain no false records, misleading statements, or material omissions, and assume individual and joint responsibility for the authenticity, accuracy, and completeness of the contents.

Important matters for attention:

● Zhejiang Golden Eagle Co., Ltd. (hereinafter referred to as the “Company”) 2025 profit distribution proposal is: no cash dividends will be distributed, no bonus shares will be issued, and no shares will be converted from capital reserve.

● This profit distribution proposal has been considered and approved by the 9th meeting of the 11th session of the board of directors of the Company, and is still subject to approval by the Company’s 2025 annual general meeting of shareholders.

● It does not touch the circumstances described in Item (8) of Paragraph 1 of Article 9.8.1 of the “Shanghai Stock Exchange Stock Listing Rules (April 2025 Amendment)” (hereinafter referred to as the “Listing Rules”) that may lead to other risk warning measures being implemented.

I. Content of the Profit Distribution Proposal

(I) Specific content of the profit distribution proposal

After being audited by Tianjian Certified Public Accountants (Special General Partnership), as of December 31, 2025, the parent company’s statements show undistributed profits at the middle-end/period-end of RMB 302,912.80. Upon resolutions of the board of directors, the Company’s 2025 profit distribution proposal is: no cash dividends will be distributed, no bonus shares will be issued, and no shares will be converted from capital reserve.

(II) Whether it may trigger other risk warning circumstances

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II. Explanation of the situation where the cash dividend distribution ratio for this year is below 30%

In 2025, the Company achieved net profit attributable to shareholders of listed companies of RMB 20,836,201.46. The Company did not implement any cash dividend. The specific reasons are as follows:

(I) Industry characteristics, development stage, Company’s own operating model, profitability level, solvency, and capital needs

The Company operates in the textile, textile machinery, and plastic machinery industries, which are traditional manufacturing industries. In recent years, affected by substantial fluctuations in flax/linen raw material prices and tariffs imposed by some countries, the Company has established overseas production bases, resulting in increased capital expenditure on construction.

(II) Expected use of retained undistributed profits and their returns

The Company’s retained undistributed profits will be used to match the Company’s strategic development plan, project investment and construction, and future capital needs, to ensure the Company’s steady and sustainable development, enhance the Company’s overall competitiveness, and create greater long-term value for shareholders.

(III) Whether the Company provides convenience for small and medium-sized shareholders to participate in decision-making on cash dividend distribution in accordance with relevant regulations of the CSRC

According to the relevant requirements of the CSRC, the Company has taken a series of measures to provide convenience for small and medium-sized shareholders to participate in decision-making on cash dividend distribution, including but not limited to: timely and充分 disclosure of dividend policies and related information, ensuring that small and medium-sized shareholders can fully understand the Company’s dividend plan and financial situation. When the shareholders’ meeting deliberates on this profit distribution proposal, small and medium-sized shareholders will be given sufficient opportunities to express their opinions and make suggestions. Small and medium-sized shareholders may vote on this proposal through online voting. The Company will disclose the voting results in segments. At the same time, the Company adopts multiple communication channels with investors; small and medium-sized shareholders can communicate with the Company about cash dividend distribution through investor hotlines, email addresses, Shanghai Stock Exchange “e-Interaction”, and other means.

(IV) Measures the Company intends to take to enhance the level of investor returns

The Company will deeply practice the理念 of “putting investors first”, and earnestly perform the social responsibilities and obligations of a listed company, focusing on improving operating quality, continuously enhancing profitability and the level of investor returns.

III. Decision-making Procedures Implemented by the Company

The Company convened the 9th meeting of the 11th session of the board of directors on March 31, 2025, considered and approved the “Company’s 2025 Profit Distribution Proposal”, and agreed to submit this proposal for consideration at the Company’s shareholders’ meeting.

IV. Relevant Risk Disclosures

The Company’s 2025 profit distribution proposal has been formulated based on the Company’s annual operating conditions and taking into account the Company’s capital needs for future development. It will not affect the Company’s normal production and operations and long-term development.

This proposal will be implemented only after being submitted to and approved at the Company’s 2025 annual general meeting of shareholders. Investors are kindly requested to pay attention to investment risks.

This is hereby announced.

Zhejiang Golden Eagle Co., Ltd.

Board of Directors

April 2, 2026

Security Code: 600232 Security Short Name: Golden Eagle Co., Ltd. Announcement No.: 2026-005

Zhejiang Golden Eagle Co., Ltd.

Announcement on Reappointing the Accounting Firm

The board of directors of this Company and all directors warrant that the contents of this announcement contain no false records, misleading statements, or material omissions, and assume individual and joint responsibility for the authenticity, accuracy, and completeness of the contents.

Important matters for attention:

● Name of the accounting firm proposed for reappointment: Tianjian Certified Public Accountants (Special General Partnership)

I. Basic information on the accounting firm proposed for reappointment

(I) Information on the institution

1. Basic information

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2. Investor protection capability

Tianjian Certified Public Accountants (Special General Partnership) has strong investor protection capability. It has, in accordance with the requirements of relevant laws and regulations, accrued a professional risk fund and purchased professional liability insurance. As of the end of 2025, the cumulative total compensation limits under the accrued professional risk fund and purchased professional liability insurance exceed RMB 200 million. The accrual of the professional risk fund and the purchase of professional liability insurance comply with relevant provisions issued by the Ministry of Finance regarding the “Measures for the Administration of Professional Risk Funds of Accounting Firms” and other documents.

In the past three years, Tianjian has been involved in civil lawsuits related to professional practice. In those civil lawsuits related to professional practice, it has incurred circumstances under which it assumed civil liability. The circumstances in the past three years in which Tianjian was determined to assume civil liability in civil lawsuits related to professional practice are as follows:

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The above cases have been concluded, and Tianjian has duly fulfilled the final judgments on time, and this will not have any adverse impact on its ability to perform its obligations.

3. Integrity records

Over the past three years (from January 1, 2023 to December 31, 2025), Tianjian Certified Public Accountants (Special General Partnership) has received 4 administrative penalties, 17 supervisory management measures, 13 self-regulatory measures, and 5 disciplinary sanctions for its professional practice, and it has not received any criminal penalties. In the past three years, 112 practitioners received 15 persons-times of administrative penalties, 63 persons-times of supervisory management measures, 42 persons-times of self-regulatory measures, and 23 persons-times of disciplinary sanctions due to their professional practice, and no criminal penalties were imposed.

(II) Project information

1. Basic information on the project

Project partner and signed-up registered public accountant: Wei Jianqing. He became a registered public accountant in 2012. He started engaging in audits of listed companies in 2005. He began practicing at this firm in 2012. He has provided audit services to our Company since 2011. In the past three years, he has signed or reviewed audit reports for 18 listed companies.

Signed-up registered public accountant: Zhou Wangfei. He became a registered public accountant in 2013. He started engaging in audits of listed companies in 2008. He began practicing at this firm in 2013. He has provided audit services to our Company since 2023. In the past three years, he has signed or reviewed audit reports for 9 listed companies.

Project quality review personnel: Shen Yingling. She became a registered public accountant in 2005. She began engaging in audits of listed companies in 2010. In the past three years, she has signed or reviewed audit reports for 10 listed companies.

2. Integrity records

Over the past three years, there have been no criminal penalties for the project partner, signed-up registered public accountant Zhou Wangfei, and project quality review personnel Shen Yingling due to their professional practice. There have also been no administrative penalties or supervisory management measures by the CSRC and its dispatched agencies, nor by industry competent authorities. There have also been no self-regulatory supervision measures or disciplinary sanctions by self-regulatory organizations such as securities exchanges and industry associations.

Over the past three years, there have been no criminal penalties for the project partner and signed-up registered public accountant Wei Jianqing due to their professional practice. The administrative penalties received include those by the CSRC and its dispatched agencies, and administrative penalties by industry competent authorities. Details of administrative supervisory management measures received due to professional practice by the CSRC and its dispatched agencies are set out in the following table:

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3. Independence

Tianjian Certified Public Accountants (Special General Partnership) and the project partner, signed-up registered public accountant, and project quality review personnel have no circumstances that may affect independence.

(III) Audit fees

The financial audit fees for 2025 are RMB 1.10 million, and internal control audit fees are RMB 200k. The financial audit fees for 2026 will be determined based on the financial audit fees for 2025, according to the scope of the consolidated financial statements covered by the Company’s annual report audit, the number of audit personnel to be assigned, and the amount of work to be performed, to determine the final audit fees.

II. Procedures to Be Performed for Reappointing the Accounting Firm

(I) Audit committee review opinion

On March 21, 2026, the audit committee of the 11th session of the board of directors convened the third meeting in 2026. It conducted a review of Tianjian Certified Public Accountants (Special General Partnership) regarding professional competence, investor protection capability, independence, integrity status, etc. It considered that, during the Company’s audits in past years, it can carry out audit work in accordance with the independent auditing standards for certified public accountants, follow independent, objective, and fair professional conduct standards, and truthfully reflect the Company’s financial position and operating results, thereby effectively performing the responsibilities that an audit institution should fulfill. The audit committee agreed to propose to the board of directors the reappointment of Tianjian Certified Public Accountants (Special General Partnership) as the Company’s audit institution for auditing the Company’s 2026 financial report and internal control report.

(II) Deliberation and voting by the board of directors

On March 31, 2026, the Company convened the 9th meeting of the 11th session of the board of directors and deliberated and approved the “Proposal on Reappointing the Accounting Firm for the Company”, agreeing to reappoint Tianjian Certified Public Accountants (Special General Partnership) as the Company’s audit institution for the 2026 financial report and internal control report.

(III) Effective date

This reappointment matter still needs to be submitted to the shareholders’ meeting for consideration, and becomes effective from the date when it is approved by the shareholders’ meeting.

This is hereby announced.

Zhejiang Golden Eagle Co., Ltd.

Board of Directors

April 2, 2026

Security Code: 600232 Security Short Name: Golden Eagle Co., Ltd. Announcement No.: 2026-007

Zhejiang Golden Eagle Co., Ltd.

Announcement on Providing Guarantees for Subsidiaries and External Guarantees by Subsidiaries

The board of directors of this Company and all directors warrant that the contents of this announcement contain no false records, misleading statements, or material omissions, and assume individual and joint responsibility for the authenticity, accuracy, and completeness of the contents.

Important matters for attention:

● Name of the guaranteed party: Zhejiang Golden Eagle Plastic Machinery Co., Ltd. (hereinafter referred to as “Golden Eagle Plastic Machinery”) and some sales customers of Golden Eagle Plastic Machinery that choose installment mortgage/loans.

● Amount of guarantee to be continued: not more than RMB 1,400 million (inclusive). Of this, the Company provides guarantees for Golden Eagle Plastic Machinery of not more than RMB 70M (inclusive), and Golden Eagle Plastic Machinery provides guarantees for some sales customers that choose installment mortgage/loans of not more than RMB 70M (inclusive).

● Whether there is a counter-guarantee for this external guarantee: none

● Cumulative number of overdue external guarantees: none

I. Overview of the Guarantee Situation

To expand the sales scale of the Company’s controlling subsidiary Golden Eagle Plastic Machinery and enhance profitability, the Company intends to provide Golden Eagle Plastic Machinery with a continuing guarantee for the total amount of not more than RMB 70M (inclusive) in the form of joint and several liability, which will be specifically used for Golden Eagle Plastic Machinery to handle retail small and micro equipment loans and financing for buyers under credit arrangements for purchasers under公方信贷融资等 businesses. Within the above guarantee limit (not exceeding RMB 70M (inclusive)), Golden Eagle Plastic Machinery will, as needed for actual business transactions, sign guarantee contracts together with some sales customers that choose installment mortgage/loans. The cooperation bank for the above businesses is China Everbright Bank. The guarantee term is from the date on which it is approved by the Company’s 2025 annual general meeting of shareholders until the date when the Company’s 2028 annual general meeting of shareholders is convened.

The above guarantee has been considered and approved by the 9th meeting of the 11th session of the board of directors convened on March 31, 2026. In accordance with the “Shanghai Stock Exchange Stock Listing Rules” and the “Articles of Association,” it still needs to be submitted to the Company’s shareholders’ meeting for consideration.

II. Basic information on the guaranteed parties

1. Basic information

Name: Zhejiang Golden Eagle Plastic Machinery Co., Ltd.

Type: Limited liability company

Address: Dinghai Industrial Park, Zhoushan City (north of Yalao Road)

Legal representative: Pan Mingzhong

Registered capital: RMB 63.0 million

Date of establishment: September 6, 2000

Business scope: manufacturing, processing, and sales of plastic machinery products and other machinery products and parts. (Projects that are subject to approval according to law may only be carried out after approval by relevant departments).

2. Some qualified or creditworthy sales customers who will handle retail small and micro equipment loans and financing for corporate buyers, etc.

3. As of December 31, 2025, Golden Eagle Plastic Machinery’s total assets were RMB 489,362.3 thousand, total liabilities were RMB 374,128.0 thousand, net assets were RMB 115,234.3 thousand, asset-liability ratio was 76.45%. For 2025, operating revenue was RMB 383,407.0 thousand, and net profit was RMB 38,612.6 thousand. The above figures have been audited.

4. The Company holds 95% of the equity interest in Golden Eagle Plastic Machinery, and Golden Eagle Plastic Machinery is the Company’s controlling subsidiary.

III. Main contents of the guarantee

(I) Guarantee provider: Zhejiang Golden Eagle Co., Ltd.

Guaranteed party: Zhejiang Golden Eagle Plastic Machinery Co., Ltd.

Guarantee amount: not more than RMB 700 million (inclusive)

(II) Guarantee provider: Zhejiang Golden Eagle Plastic Machinery Co., Ltd.

Guaranteed party: some sales customers that choose installment mortgage/loans with good quality or creditworthiness

Guarantee amount: not more than RMB 700 million (inclusive)

After approval by the shareholders’ meeting, the Company will sign a maximum-amount guarantee contract with China Everbright Bank. When Golden Eagle Plastic Machinery actually conducts sales business, it will, based on the needs of sales customers, handle retail small and micro equipment loans and financing for buyers under public buyer credit arrangements, etc., and Golden Eagle Plastic Machinery will sign guarantee contracts (each guarantee amount is subject to the actual amount of loans disbursed by China Everbright Bank). This guarantee has no counter-guarantee. The Company shall sign the relevant contracts after the above matters are approved by the shareholders’ meeting and after the internal approval procedures for all other parties are completed. The guarantee contracts signed by Golden Eagle Plastic Machinery will be disclosed, within the above maximum-amount guarantee scope, by summarizing the actual guarantee balances incurred in each annual and interim annual report.

IV. Opinions of the Board of Directors

The board of directors believes that Golden Eagle Plastic Machinery is the Company’s controlling subsidiary, and the financing is to meet the needs of its own normal business development, which can expand its production and sales scale and enhance its profitability. The Company’s continuing provision of guarantees benefits its healthy development and is in line with the Company’s overall interests. The board of directors agrees that the Company will continue to provide guarantees for it. The management is responsible for handling relevant matters. The board of directors also agrees that the management of Golden Eagle Plastic Machinery will continue to handle and sign external guarantee contracts and relevant procedures within the above limits.

V. Cumulative amount of external guarantees and amount of overdue guarantees

As of December 31, 2025, the total amount of guarantees provided by the Company to its controlling subsidiaries is RMB 70M, representing 7.37% of the Company’s most recently audited net assets. The total amount of guarantees provided by the Company and its controlling subsidiaries to entities outside the scope of the consolidated financial statements (i.e., some sales customers cooperating with Golden Eagle Plastic Machinery) is RMB 60,871,308.61, representing 6.41% of the Company’s most recently audited net assets. The Company’s total guarantee amount (including guarantees for its subsidiaries) is RMB 130,871,308.61, representing 13.78% of the Company’s most recently audited net assets. The Company has no overdue guarantees. In addition, the Company has not provided guarantees to controlling shareholders and other related parties, nor to any non-legal-person units or individuals.

VI. Inspection documents

Resolution of the 9th meeting of the 11th session of the board of directors of the Company

This is hereby announced.

Zhejiang Golden Eagle Co., Ltd.

Board of Directors

April 2, 2026

Security Code: 600232 Security Short Name: Golden Eagle Co., Ltd. Announcement No.: 2026-006

Zhejiang Golden Eagle Co., Ltd.

Announcement on Expected Daily Related Party Transactions for 2026 of the Company

The board of directors of this Company and all directors warrant that the contents of this announcement contain no false records, misleading statements, or material omissions, and assume individual and joint responsibility for the authenticity, accuracy, and completeness of the contents.

Important matters for attention:

● The amount of the Company’s daily related party transactions is less than RMB 30 million and also does not exceed 5% of the absolute value of the most recently audited net assets of the listed company; therefore, it does not require submission to the shareholders’ meeting for consideration.

● Impact of the daily related party transactions on the listed company: All related party transactions carried out by the Company with related parties are to meet the needs of the Company’s daily operating business. The expected quota for daily related party transactions in 2026 accounts for a relatively small proportion of the Company’s external transactions. It will not have any adverse impact on the Company’s current and future financial conditions and operating results. The Company does not constitute a significant reliance on related parties. The pricing of related party transactions follows market principles and does not impair the interests of the Company or all shareholders.

In order to strengthen effective control over daily related party transactions of Zhejiang Golden Eagle Co., Ltd. (hereinafter referred to as the “Company” or “this Company”) and its subsidiaries, and to achieve standardized operations of daily related party transactions, in accordance with relevant rules and regulations including the “Guidelines for the Implementation of Related Party Transactions by Listed Companies” of the Shanghai Stock Exchange, the “Shanghai Stock Exchange Stock Listing Rules,” the “Articles of Association,” the “Company Related Transaction Management Measures,” etc., and in combination with financial report data, the Company hereby announces the implementation of related party transactions in 2025 and expected daily related party transactions in 2026 as follows:

I. Implementation of daily related party transactions

(I) Consideration and approval procedures for daily related party transactions

A special meeting of independent directors reviewed this proposal. All independent directors unanimously agreed to submit the proposal to the board of directors for consideration and formed the following opinions: the expected annual daily related party transactions are based on the Company’s 2026 production and operation plan to ensure the normal conduct of production and operation activities. The related party transactions involved do not affect the Company’s independence. The pricing principles for related party transactions are fair and reasonable, comply with market principles, and comply with the provisions of relevant laws and regulations. The decision-making authority is legitimate. There is no circumstance of impairing the interests of the Company and its shareholders, especially small and medium-sized shareholders. The independent directors agreed to submit the expected daily related party transactions for 2026 to the board of directors for deliberation.

The 9th meeting of the 11th session of the board of directors considered and approved the “Proposal on Expected Daily Related Party Transactions for 2026 of the Company”. Among them, related directors Fu Guoding, Chen Weiyi, Pan Mingzhong, Shao Yanfeng, Chen Shijun, and Chen Zhaolong have withdrawn from voting on this proposal.

The expected amount of the Company’s daily related party transactions is less than RMB 30 million and also does not exceed 5% of the absolute value of the most recently audited net assets of the listed company. In accordance with the “Shanghai Stock Exchange Stock Listing Rules” and the Company’s “Articles of Association,” there is no need to submit it for consideration by the shareholders’ meeting.

(II) Expected and executed situation of daily related party transactions in 2025

Unit: RMB ten thousand

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(III) Expected amount and categories of daily related party transactions in 2026

Unit: RMB ten thousand

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II. Introduction of the major related parties and related-party relationships

(I) Basic information of related parties and related-party relationships with the listed company

1. Zhoushan Huaqing Textile Equipment Co., Ltd.

Zhoushan Huaqing Textile Equipment Co., Ltd. is a wholly-owned subsidiary of Zhejiang Huaqing Co-creation Co., Ltd., the parent company of the Company’s controlling shareholder. The company’s registered capital is RMB 10 million.

Legal representative: Fu Heping

Business scope: manufacturing and processing of textile steel needles, nylon needle cores, textile accessories, and plastic products.

2. Zhejiang Golden Eagle Food Machinery Co., Ltd.

Zhejiang Golden Eagle Food Machinery Co., Ltd. is a controlling subsidiary of Zhejiang Huaqing Co-creation Co., Ltd., the parent company of the Company’s controlling shareholder. Huaqing Co-creation holds 54% of the equity. The company’s registered capital is RMB 6.60 million.

Legal representative: Xu Zejun

Main business scope: manufacturing and sales of mechanical equipment and mechanical accessories, and mold manufacturing and sales; import and export trading of goods and technology.

3. Zhoushan Golden Eagle Northern Die-Casting Machinery Co., Ltd.

Zhoushan Golden Eagle Northern Die-Casting Machinery Co., Ltd. is a controlling subsidiary of Zhejiang Golden Eagle Group Co., Ltd., the controlling shareholder of the Company. Golden Eagle Group holds 30.80% of the shares. The company’s registered capital is RMB 5.362 million.

Legal representative: Xu Zejun

Main business scope: production and operation of die-casting machinery and sales of other machinery products and parts.

4. Zhejiang Zhoushan Golden Eagle Precision Equipment Co., Ltd.

Zhejiang Zhoushan Golden Eagle Precision Equipment Co., Ltd. is a controlling subsidiary of Zhejiang Golden Eagle Food Machinery Co., Ltd. Zhejiang Golden Eagle Food Machinery Co., Ltd. holds 80% of the shares. The company’s registered capital is RMB 3.0 million.

Legal representative: Xu Zejun

Main business scope: precision equipment and other mechanical equipment, mold manufacturing and sales; import and export trading of goods and technology.

5. Zhejiang Fuweng Precision Machinery Co., Ltd.

Zhejiang Fuweng Precision Machinery Co., Ltd. is a wholly-owned subsidiary of Zhejiang Golden Eagle Group Co., Ltd., the controlling shareholder of the Company. The company’s registered capital is RMB 10 million.

Legal representative: Lin Ruzhong

Main business scope: manufacturing of metal cutting machine tools; manufacturing of mechanical electrical equipment; manufacturing of general equipment (excluding the manufacturing of special equipment); manufacturing of general components; manufacturing of textile specialized equipment.

6. Tacheng Golden Eagle Lignin Technology Co., Ltd.

Tacheng Golden Eagle Lignin Technology Co., Ltd. is a wholly-owned subsidiary of Zhejiang Golden Eagle Group Co., Ltd., the controlling shareholder of the Company. The company’s registered capital is RMB 16.50 million.

Legal representative: Fu Zuping

Business scope: pulp manufacturing; non-residential real estate leasing.

(II) Analysis of the performance capability of related companies

Related companies are legally existing corporate entities and operate continuously in accordance with the law. They are able to perform their obligations under the agreements, deliver on schedule, and have the capability to perform.

III. Main content of related party transactions and pricing policies

The Company and related parties conduct transactions on the principles of openness, fairness, and impartiality. Pricing strictly follows prevailing market prices during the same period, and transaction contracts are signed.

IV. Purpose of related party transactions and their impact on the Company

(I) Necessity of related party transactions

The Company’s daily related party transactions with the above related parties are based on the Company’s needs for production and operations, which helps the Company achieve continuous and healthy development of its business, aligns with the interests of the Company and all shareholders, and has certain necessity and rationality.

(II) Fairness and reasonableness of the pricing of related party transactions

The related party transactions between the Company and the above related parties have always followed the principles of fairness and reasonableness. The transactions of both parties are agreed upon in the form of contracts. There is no significant price difference. This helps ensure the Company’s business continues to develop in a sustainable and healthy manner and aligns with the interests of the Company and all shareholders. The pricing is fair and reasonable.

(III) Sustainability of related party transactions

The Company maintains a relatively stable cooperative relationship with the above related parties. The main sources of revenue and profits of its main businesses do not depend on related party transactions. The products and services purchased from related parties are substitutable. The Company’s daily related party transactions will not affect the Company’s independence.

(IV) Impact on the listed company

The related party transactions between the Company and related parties are all to meet the needs of the Company’s daily operating business. The expected quota for daily related party transactions in 2026 accounts for a relatively small proportion of the Company’s external transactions. It will not have any adverse impact on the Company’s current or future financial conditions and operating results. The Company does not constitute a significant reliance on related parties. The pricing of related party transactions follows market principles and does not impair the interests of the Company and all shareholders.

This is hereby announced.

Zhejiang Golden Eagle Co., Ltd.

Board of Directors

April 2, 2026