Wangfujing Uses 200 Million Yuan in Idle Raised Funds to Purchase Structured Deposits with Terms of 88 to 179 Days

Beijing, March 20, 2026 — Wangfujing Group Co., Ltd. (Stock code: 600859,简称 “Wangfujing”) announced today that it will use 200 million yuan of temporarily idle raised funds to purchase structured deposit products to improve capital utilization.

The announcement states that the structured deposit products purchased by Wangfujing are issued by Huaxia Bank Co., Ltd. Beijing Guanghua Branch (referred to as “Huaxia Bank Guanghua Branch”). The purchase consists of two parts, each 100 million yuan, with terms of 88 days and 179 days respectively. Both are principal-protected floating return products, with expected annualized yields of 1%/1.78%/1.93% and 1.2%/1.65%/1.74%.

Previous Cash Management Product Redemption

The 200 million yuan structured deposit purchased by Wangfujing on December 17, 2025, matured and was redeemed on March 16, 2026, recovering the principal of 200 million yuan and earning a profit of 1.0144 million yuan. Details are as follows:

Details of Current Cash Management

Source of Funds and Investment Purpose

The current investment funds come from the company’s temporarily idle raised funds. Wangfujing states that, while ensuring the investment and use of raised funds for project construction, cash management can better leverage capital efficiency, preserve and increase cash assets, and protect the interests of the company and shareholders.

The basic information of the company’s raised funds is as follows: Approved by the China Securities Regulatory Commission, Wangfujing conducted a non-public issuance of 155 million A-shares in December 2021, raising a total of 3.743 billion yuan, with a net amount of 3.717 billion yuan, used for working capital, store digital transformation, store optimization and renovation, and other projects.

As of mid-2025, the cumulative investment progress of the projects is as follows:

• Working capital supplement and debt repayment: 100%
• Store digital transformation and information system upgrade: 39.61% (expected to be operational by December 2027)
• Store optimization and renovation: 5.44% (expected to be operational by December 2026)
• Beijing Faya Trading new store construction: 28.44% (expected to be operational by December 2025)
• Taxes, fees, and intermediary costs related to this transaction: 100%

Information on the Structured Deposit Products Purchased

| RMB Structured Deposit DWJCFZX26085 | Huaxia Bank Guanghua Branch | Structured Deposit | 88 days | 100,000 | Principal-protected floating return | 1% or 1.78% or 1.93% | No | Yes | No | | RMB Structured Deposit DWJCFZX26086 | Huaxia Bank Guanghua Branch | Structured Deposit | 179 days | 100,000 | Principal-protected floating return | 1.2% or 1.65% or 1.74% | No | Yes | No |

Cash Management in the Past 12 Months

As of the announcement date, Wangfujing’s cash management using idle raised funds in the past 12 months is as follows:

Other key indicators:

• Highest single-day investment in the past 12 months: 590 million yuan
• Highest single-day investment/annual net assets: 2.91%
• Highest single-day investment/net profit over the past year: 229.87%
• Total raised funds invested: 1.52 billion yuan
• Funds already used: 1.45 billion yuan
• Remaining unused funds: 70 million yuan

Risk Warning and Risk Control Measures

Wangfujing reminds that, although the purchased products are high-security, highly liquid, and low-risk principal-protected products, the financial market is significantly affected by macroeconomic, fiscal, and monetary policies. Returns may be impacted by market fluctuations.

The company will implement multiple risk control measures, including strictly managing cash management operations according to relevant regulations, tracking product investments and progress, and taking protective measures promptly if adverse factors are identified. Independent directors and the audit committee will supervise and inspect the use of funds.

Impact on the Company

As of September 30, 2025, Wangfujing’s total assets were 39.932 billion yuan, total liabilities 19.716 billion yuan, with an asset-liability ratio of 49.37%. The company states that this cash management will not affect the implementation of raised projects or significantly impact the company’s main business, financial condition, operating results, or cash flows. Under the premise of ensuring the safety and proper use of raised funds, cash management can improve capital efficiency and increase income, aligning with the interests of the company and all shareholders.

This cash management matter has been approved by the 26th meeting of the 11th Board of Directors, with independent financial advisor CITIC Securities Co., Ltd. providing a verification opinion of consent.

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