JIANGNAN RED ARROW's subsidiary fully repaid the 35 million idle raised funds after supplementing working capital

On September 29, 2024, JIANGNAN RED ARROW held a meeting and agreed that its wholly-owned subsidiary, Northern Binhai, would temporarily use no more than 35 million yuan of idle raised funds to supplement working capital, with a usage period not exceeding 12 months. Northern Binhai actually used 35 million yuan, reasonably arranged the funds during the usage period, and only used them for production and operation related to its main business, without involving high-risk investments, and the fund utilization status was good. As of September 22, 2025, Northern Binhai has fully returned the 35 million yuan to the special account for raised funds and notified the independent financial advisor, CITIC Securities. The board of directors of JIANGNAN RED ARROW issued this announcement on September 24, 2025