-- Announcement on Release of Pledge of Controlling Shareholders' Shares

Securities code: 603520 Securities abbreviation: Stellie Announcement number: 2025-043

Zhejiang Stell Pharmaceutical Co., Ltd.

Announcement on Lifting the Pledge of Shares of Controlling Shareholders

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

Important content reminder:

 The pledger for this release: Mr. Hu Jinsheng, the controlling shareholder of Zhejiang Stell Pharmaceutical Co., Ltd. (hereinafter referred to as the "Company"). The number of pledged shares released this time: 8,820,000 shares (accounting for 2.01% of the company’s total share capital and 19.57% of the company’s shares held by him).

 As of the disclosure date of this announcement, the controlling shareholders, Mr. Hu Jian and Mr. Hu Jinsheng, and their concerted persons, Shanghai Muxin Private Fund Management Co., Ltd. - Muxin Chunchen No. 1 Private Securities Investment Fund, hold a total of 97,926,256 shares of the company, accounting for 22.34% of the company's total share capital, and hold a total of 37,900,000 pledged shares of the company (after the pledge is released), accounting for 38.70% of its shareholding ratio.

1. Basic situation of this release of pledge of shares

Shareholder name Hu Jinsheng

This time, 8,820,000 pledged shares were released

Accounting for 19.57% of its shares

Accounting for 2.01% of the company’s total share capital

Pledge release time: September 19, 2025

Number of shares held 45,072,126 shares

Shareholding ratio 10.28%

The remaining number of pledged shares is 34,776,800 shares

The remaining number of pledged shares accounts for 77.16% of its shares.

The remaining number of pledged shares accounts for 7.93% of the company’s total share capital.

As of the disclosure date of this announcement, Mr. Hu Jinsheng has not used the shares released from pledge for subsequent pledges.

Plan.

2. Accumulated pledged shares by shareholders

As of the announcement date, the cumulative pledged shares of the above shareholders and their persons acting in concert are as follows:

Its share of the company’s pledged shares and unpledged shares’ cumulative number of pledges

Name of shareholder Number of shares held Shareholding proportion Shares held Total share capital

Amount Restricted shares Frozen shares Restricted shares Frozen shares

Proportion Proportion

Hu Jinsheng 45,072,126 10.28% 34,776,800 77.16% 7.93% - - - -Hu Jian 46,305,000 10.56% 3,123,200 6.74% 0.71% - - - - Shanghai Muxin Private Equity Fund

Management Co., Ltd. - Mu

6,549,130 1.49% - - - - - - -Xin Chunchen No. 1 Private Placement Certificate

securities investment funds

Total 97,926,256 22.34% 37,900,000 38.70% 8.64% - - - -

Announcement is hereby made.

Board of Directors of Zhejiang Stell Pharmaceutical Co., Ltd.

September 24, 2025