Huawen Media Investment Group Co., Ltd. Progress Announcement on Providing Guarantees for Debt of Wholly-owned Subsidiaries

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Securities Code: 000793 Short Name: *ST Huawen (Rights Protection) Announcement No.: 2026-005

Huawen Media Investment Group Co., Ltd.

Progress Announcement on Providing Guarantees for Debts of Wholly-Owned Subsidiaries

Our company and all members of the board of directors guarantee that the disclosed information is true, accurate, and complete, with no false records, misleading statements, or major omissions.

Special Reminder:

1. Litigation stage of the case: This judgment is the final ruling.

2. The company’s role in the case: Defendant (wholly-owned subsidiary is the appellant in the second instance).

3. Amount involved: Payment of transfer consideration of 72.89 million yuan and related equity maintenance fees and penalties for the first, second, and third items in Civil Judgment No. (2024) Hu 0114 Min Chu 24390.

4. Impact on the company’s profit and loss: The impact of this judgment on the company’s current and future profits depends on the enforcement of the debtor and the company’s bankruptcy reorganization, and there is currently uncertainty.

Huawen Media Investment Group Co., Ltd. (hereinafter referred to as “the Company” or “Huawen Group”) published announcements on March 10, 2021; January 23, 2024; October 29, 2024; November 21, 2024; and October 10, 2025, in Securities Times, China Securities Journal, Shanghai Securities News, and Cninfo.

On March 16, 2026, the company’s wholly-owned subsidiary Hainan Huawen Jincheng Investment Co., Ltd. (formerly “Shannan Huawen Venture Investment Co., Ltd.”, hereinafter “Huawen Jincheng”) and Guoshi Communications (Shanghai) Co., Ltd. (hereinafter “Guoshi Shanghai”) received Civil Judgment No. (2025) Hu 74 Min Zhong 1879 from the Shanghai Financial Court. The progress of the guarantee-related litigation involving the company’s wholly-owned subsidiary Huawen Jincheng is announced as follows:

1. Basic situation of overdue debts and guarantees

In March 2021, at the 2021 Second Extraordinary Meeting of the Eighth Board of Directors, the company approved providing joint liability guarantees for the claims of Jianxin Trust Co., Ltd. (hereinafter “Jianxin Trust”) under the “Payment Agreement” requiring Huawen Jincheng to fulfill its obligations at the maturity of the Jianxin Trust - Shannan Huawen Equity Income Rights Investment Collective Fund Trust Plan (hereinafter “Jianxin Shannan Trust Plan”). The guarantee covers the principal debt not exceeding 200 million yuan. Subsequently, Huawen Jincheng transferred some specific stock income rights and paid a principal transfer consideration of 125 million yuan; it still needs to transfer part of the specific stock income rights and pay an additional 72.89 million yuan.

In January 2024, after approval at the 2024 First Extraordinary Meeting of the Ninth Board of Directors, the company planned for its wholly-owned subsidiary Hainan Huawen Minxiang Investment Co., Ltd. to acquire the priority trust benefits of the Jianxin Shannan Trust Plan, but this was not implemented.

Currently, the principal and related equity maintenance fees of this debt are overdue.

2. Litigation progress regarding the guarantee

On November 20, 2024, the company received relevant documents from the Shanghai Jiading District People’s Court regarding case No. (2024) Hu 0114 Min Chu 24390. Jianxin Trust filed a civil lawsuit with the court over the defaulted debt, with the company as the guarantor. The case was heard on March 28, 2025. Later, the court added China Construction Bank Shanghai Jiading Branch as a third party, and the case was reheard on June 27, 2025. On October 9, 2025, the company received the Civil Judgment No. (2024) Hu 0114 Min Chu 24390. Subsequently, Huawen Jincheng and Guoshi Shanghai filed appeals, and the case was heard at the Shanghai Financial Court on January 12, 2026.

3. Second-instance judgment

The Shanghai Financial Court issued Civil Judgment No. (2025) Hu 74 Min Zhong 1879, which ruled:

(1) Maintain items 1, 2, 3, and 4 of the original judgment by Shanghai Jiading Court (2024) Hu 0114 Min Chu 24390.

(2) Change item 5 of the original judgment to hold Guoshi Shanghai jointly liable for Huawen Jincheng’s debt in items 1, 2, and 3.

(3) The original defendant Huawen Group shall bear joint liability for Huawen Jincheng’s debt in items 1, 2, and 3 (interest on equity maintenance fees and penalties ceased from the date of bankruptcy application). After repayment, Huawen Group has the right to seek reimbursement from Huawen Jincheng within its scope of responsibility. Jianxin Trust can only declare claims in bankruptcy proceedings and cannot obtain individual repayment based on this.

(4) Reject the other claims of Jianxin Trust.

The first-instance case involved a fee of 453,010 yuan and a preservation fee of 5,000 yuan, paid by Huawen Jincheng, Guoshi Shanghai, and Huawen Group; the second-instance fee of 406,250 yuan was paid by Huawen Jincheng and Guoshi Shanghai.

This judgment is final.

4. Other undisclosed litigation and arbitration matters

As of the date of this announcement, the company has no other major litigation or arbitration that needs disclosure. The company’s other small claims amount to approximately 180.30 million yuan, mainly involving contract disputes, labor disputes, and infringement disputes.

5. Impact on the company and risk warning

This is a final judgment. Its impact on the company’s current and future profits depends on the enforcement of the debtor and the company’s bankruptcy reorganization, and there is uncertainty. The company will continue to monitor the progress of enforcement and disclose information in a timely manner. Securities Times, China Securities Journal, Shanghai Securities News, and Cninfo.

6. Documents for reference

(1) Civil Judgment from Shanghai Financial Court.

This announcement is made accordingly.

Huawen Media Investment Group Co., Ltd. Board of Directors

March 16, 2026