Jiangsu Constant-wise Energy-saving Technology Co., Ltd. Announcement on Results of Share Reduction by Specific Shareholders

Securities Code: 603137
Securities Abbreviation: Hengshang Energy Saving
Announcement No.: 2026-008

Jiangsu Hengshang Energy Saving Technology Co., Ltd.

Announcement on the Results of a Specific Shareholder’s Share Reduction

The company’s board of directors, all directors, and related shareholders guarantee that the content of this announcement is free from any false records, misleading statements, or major omissions, and assume legal responsibility for its truthfulness, accuracy, and completeness.

Key Highlights:

● Basic Information on the Shareholder’s Holdings

Before implementing this share reduction plan, Lu Fengxian held 3,658,635 unrestricted circulating shares of Jiangsu Hengshang Energy Saving Technology Co., Ltd. (hereinafter referred to as “the Company”), accounting for 1.99998% of the total share capital, making her a shareholder holding less than 5% of the Company.

All these shares were sourced from capital reserve converted into share capital.

● Results of the Share Reduction Plan Implementation

The company disclosed the “Announcement on the Share Reduction Plan by a Specific Shareholder” on January 8, 2026:

Under the premise of complying with relevant laws, regulations, and commitments, Lu Fengxian plans to reduce her holdings through centralized bidding or block trades, with a maximum of 1,829,333 shares, representing no more than 1.00% of the total share capital. The reduction will occur within three months after 15 trading days from the disclosure date of this plan.

On March 16, 2026, the company received a “Notification Letter on the Implementation Results of the Share Reduction Plan” from shareholder Lu Fengxian. As of March 16, 2026, she had reduced a total of 1,829,333 shares through centralized bidding, accounting for 1.00% of the total share capital, completing this reduction plan.

1. Basic Information of the Shareholder Before the Reduction

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The above-mentioned shareholder has no concerted action persons.

2. Results of the Reduction Plan Implementation

(1) Major shareholders and directors, supervisors, and senior management disclosed the implementation results of the reduction plan due to the following matters:

The reduction plan has been completed.

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(2) Did this reduction comply with relevant laws, regulations, and the company’s business rules? √ Yes □ No

(3) Is the actual reduction consistent with the previously disclosed reduction plan and commitments? √ Yes □ No

(4) Has the reduction period expired without implementation? □ Not implemented √ Implemented

(5) Did the actual reduction fall below the minimum reduction quantity (ratio) specified in the plan? □ Not reached √ Reached

Lu Fengxian did not set a minimum reduction quantity (ratio) for this share reduction plan.

(6) Was the reduction plan terminated early? □ Yes √ No

(7) Were there any violations of the reduction plan or other commitments? □ Yes √ No

This announcement is hereby made.

Jiangsu Hengshang Energy Saving Technology Co., Ltd. Board of Directors
March 17, 2026