Shangwei New Materials: Explanation of the 60-day period after the expiration of the tender offer for Wisdom Element Constant Yue.

Announcement from Shangwei New Materials: Shanghai Zhiyuan Hengyue Technology Limited Partnership and its concerted actor intend to transfer the controlling rights of Shangwei New Materials through an agreement and further increase their shareholding through a partial tender offer. As of the issuance date of this announcement, it has been more than 60 days since the indicative tender offer announcement. On July 7, 2025, Zhiyuan Hengyue has deposited RMB 2.32 billion as a performance bond. On August 15, 2025, the company adjusted and submitted a revised draft of the tender offer document summary. Currently, the tender offer has not yet taken effect, and the company is advancing the confirmation of the regulatory compliance of the agreement transfer and the share transfer registration procedures. Investors should be aware of the uncertainty and related risks of the tender offer.