Jiangsu Suhao Fashion Group Co., Ltd. Announcement of Resolutions of the 19th Meeting of the 11th Board of Directors

Securities Code: 600287 Securities Abbreviation: Suhao Fashion Announcement Number: 2026-008

Jiangsu Suhao Fashion Group Co., Ltd.

Announcement of Resolution of the 19th Meeting of the 11th Board of Directors

The board of directors and all directors of the company guarantee that the contents of this announcement do not contain any false records, misleading statements, or major omissions, and bear legal responsibility for the authenticity, accuracy, and completeness of its content.

On March 23, 2026, the board of directors of Jiangsu Suhao Fashion Group Co., Ltd. sent a written notice of the 19th meeting of the 11th board of directors to all directors, and the meeting was held on March 26, 2026, via communication. The meeting required the participation of 4 directors in the voting, and in fact, 4 directors participated in the voting, in accordance with the relevant provisions of the Company Law and the Articles of Association. The meeting was presided over by Mr. Li Yanzhou, the chairman of the company, and the following resolutions were unanimously approved through written voting:

I. Review and approve the proposal on “Abandoning the Right of First Refusal for Equity of Zijin Property Insurance Co., Ltd.”

For details, see the company’s announcement 2026-009 “Announcement on Abandoning the Right of First Refusal for Equity of Associated Companies.”

Voting results: 4 votes in favor, 0 votes against, 0 abstentions.

II. Review and approve the proposal on “Further Optimizing the Company’s Organizational Structure.”

To better coordinate technological innovation, digital platform construction, and overseas marketing support, promote the precise alignment of research and development results with market demand, and accelerate the digital transformation of traditional trade, the company will merge the original R&D Innovation Department and the original Cross-Border E-commerce Department into the R&D Innovation Department (Cross-Border E-commerce Department). At the same time, the company will establish a sampling center to coordinate the company’s sampling resources, standardize the sample development process, improve sample R&D efficiency and craftsmanship, and provide solid technical support for market expansion, order conversion, and backend production delivery.

Voting results: 4 votes in favor, 0 votes against, 0 abstentions.

This announcement is hereby made.

Board of Directors of Jiangsu Suhao Fashion Group Co., Ltd.

March 27, 2026

Securities Code: 600287 Securities Abbreviation: Suhao Fashion Announcement Number: 2026-009

Jiangsu Suhao Fashion Group Co., Ltd.

Announcement on Abandoning the Right of First Refusal for Equity of Associated Companies

The board of directors and all directors of the company guarantee that the contents of this announcement do 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:

● Brief content of the transaction: Jiangsu Suhao Fashion Group Co., Ltd. (hereinafter referred to as “the Company”) holds shares in Zijin Property Insurance Co., Ltd. (hereinafter referred to as “Zijin Insurance”). Zijin Insurance’s shareholder, Nanjing Hexi New District State-owned Assets Management Holding (Group) Co., Ltd. (hereinafter referred to as “Hexi Group”), intends to transfer its 5.47% equity in Zijin Insurance to its wholly-owned subsidiary, Nanjing Hexi Investment Asset Management Co., Ltd. (hereinafter referred to as “Hexi Investment”) at no cost. The company’s board of directors agrees to abandon the right of first refusal for equity and authorizes the management to handle related matters in accordance with relevant regulations.

● This transaction does not constitute a related party transaction.

● This transaction does not constitute a major asset restructuring.

● Approval and other related procedures that need to be performed for the implementation of the transaction: This transaction does not meet the standards for review by the shareholders’ meeting and does not need to be submitted for review by the shareholders’ meeting.

● Other risk matters that investors need to pay special attention to: The abandonment of the right of first refusal for Zijin Insurance’s equity does not affect the company’s shareholding ratio and investment rights in the associated company, will not adversely affect the company’s daily operations and financial condition, and does not harm the interests of the company and all shareholders.

I. Overview of the Transaction

(1) Basic situation of this transaction

1. Overview of this transaction

Zijin Insurance is an associated company of the company, and as of the date of this announcement, the company holds 2.67% of its equity. Recently, the company learned that Zijin Insurance’s shareholder, Hexi Group, intends to transfer its 5.47% equity in Zijin Insurance to Hexi Investment at no cost. After the completion of the above equity transfer, the company’s shareholding ratio and investment rights in Zijin Insurance will not be affected, and Zijin Insurance will still be an associated company of the company. The company abandons the right of first refusal for equity.

2. Transaction elements of this transaction

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(2) Brief explanation of the voting situation of the board of directors regarding the relevant proposals for this transaction

On March 26, 2026, the 19th meeting of the 11th board of directors of the company reviewed and approved the proposal on “Abandoning the Right of First Refusal for Equity of Zijin Property Insurance Co., Ltd.” The voting results were 4 votes in favor, 0 votes against, and 0 abstentions. The board of directors agrees to abandon the right of first refusal for the equity of Zijin Property Insurance Co., Ltd.

(3) Approval and other procedures that need to be performed for the effectiveness of the transaction

The abandonment of the right of first refusal does not constitute a related party transaction and does not constitute a major asset restructuring as defined by the “Measures for the Administration of Major Asset Restructuring of Listed Companies.” According to the “Shanghai Stock Exchange Stock Listing Rules” and other regulations, this transaction does not need to be submitted for review by the company’s shareholders’ meeting.

II. Introduction of the Transaction Counterparty

(1) Basic information of the transferor

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(2) Basic information of the transferee

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III. Basic information of the transaction target

(1) Overview of the transaction target

1. Basic information of the transaction target

The transaction target is the 5.47% equity in Zijin Insurance held by Hexi Group.

2. Ownership situation of the transaction target

The ownership of the transaction target is clear, and there are no mortgages, pledges, or any other restrictions on transfer. It does not involve litigation, arbitration, or judicial measures such as seizure or freezing, and there are no other circumstances that hinder the transfer of ownership.

3. Specific information about the transaction target

(1) Basic information

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(2) Equity structure

Equity structure before this transaction:

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Equity structure after this transaction:

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(3) Other information

As of now, except for the announcement “Announcement on Abandoning the Right of First Refusal for Equity of Associated Companies” disclosed by Suhao Huihong on March 20, 2026, the company has not received any written statements from other shareholders of Zijin Insurance regarding the abandonment of the right of first refusal. Zijin Insurance is not a person subject to enforcement for dishonesty.

(2) Main financial information of the transaction target

Unit: Ten Thousand Yuan

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IV. Evaluation and pricing situation of the transaction target

Hexi Group intends to transfer its 5.47% equity in Zijin Insurance to its wholly-owned subsidiary Hexi Investment, which belongs to an internal equity transfer of its group, and the transferee does not need to pay any consideration.

V. Impact of purchasing and selling assets on the listed company

The company’s abandonment of the right of first refusal for Zijin Insurance’s equity does not affect the company’s shareholding ratio and investment rights in the associated company, will not adversely affect the company’s daily operations and financial condition, and does not harm the interests of the company and all shareholders.

This announcement is hereby made.

Board of Directors of Jiangsu Suhao Fashion Group Co., Ltd.

March 27, 2026

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