Summary of Shouxiangu’s 2025 Annual Report

Summary of the 2025 Annual Report of Zhejiang Shouxiangu Pharmaceutical Co., Ltd.

Company code: 603896 Company abbreviation: Shouxiangu Bond code: 113660 Bond abbreviation: Shou 22 convertible bonds

Zhejiang Shouxiangu Pharmaceutical Co., Ltd.

ZhejiangShouxianguPharmaceuticalCo.,Ltd.

(No. 10, Shangcheng Road, Hushan Street, Wuyi County, Zhejiang Province)

2025

Annual Report Summary

April 29, 2026

Summary of the 2025 Annual Report of Zhejiang Shouxiangu Pharmaceutical Co., Ltd.

Section 1 Important Tips

1. The summary of this annual report comes from the full text of the annual report. In order to fully understand the company's operating results, financial status and future development plans, investors should go to www.sse.com.cn to read the full text of the annual report carefully.

2. The company’s board of directors, directors and senior managers guarantee the authenticity, accuracy and completeness of the contents of the annual report and that there are no false records, misleading statements or major omissions, and bear individual and joint legal liability.

3. All directors of the company attend the board meeting.

4. Lixin Accounting Firm (Special General Partnership) issued a standard unqualified audit report for the company.

5. The profit distribution plan for the reporting period or the plan for converting public reserve funds into share capital approved by the board of directors

According to the provisions of the "Articles of Association" and the "Dividend Return Plan of Shouxian Valley for the Next Three Years (2024-2026)", given that the company's distributable profit per share in 2025 is less than 0.1 yuan, taking into account factors such as the company's industry development status, actual operating conditions, comprehensive profitability, future capital needs, and medium- and long-term development strategies, in order to ensure the company's healthy and sustainable development, the company plans not to distribute cash dividends in 2025, nor convert capital reserves into share capital or distribute profits in other ways. The retained undistributed profits will be used to support the operational development of the company's various businesses and liquidity needs, and enhance the company's ability to respond to market risks and industry competition in the future. As of the end of the reporting period, the parent company had unrecovered losses and its impact on the company’s dividends and other matters

□Applicable √Not applicable

Summary of the 2025 Annual Report of Zhejiang Shouxiangu Pharmaceutical Co., Ltd.

Section 2 Basic Information of the Company

1. Company profile

Company Stock Profile

Stock type Stock listing exchange Stock abbreviation Stock code Stock abbreviation before change A shares Shanghai Stock Exchange Shouxiangu 603896/

Contact and Contact Information Board Secretary Securities Affairs Representative

Name Liu Guofang Liu Jia

Contact address: No. 12, Huanglong 3rd Road, Wuyi County, Zhejiang Province No. 12, Huanglong 3rd Road, Wuyi County, Zhejiang Province Tel: 0579-87622285 0579-87622285

Fax 0579-87621769 0579-87621769

Email [email protected] [email protected]

2. Introduction to the company’s main business during the reporting period

(1) Overview of the Traditional Chinese Medicine Pieces Industry

Traditional Chinese medicine pieces are one of the three pillars of the traditional Chinese medicine industry. They are connected with traditional Chinese medicinal materials, followed by proprietary Chinese medicines, extracts, health products and clinical Chinese medicine. They are at the core of the entire traditional Chinese medicine industry chain. The healthy and sustainable development of the traditional Chinese medicine industry not only affects the overall development quality and efficiency of the traditional Chinese medicine industry, but also has a critical impact on the long-term development of the traditional Chinese medicine industry. In March 2025, the State Council's "Opinions on Improving the Quality of Traditional Chinese Medicine and Promoting the High-Quality Development of the Traditional Chinese Medicine Industry" laid out supporting policies from the full chain of resource protection, ecological planting, production and manufacturing, and the Ministry of Industry and Information Technology simultaneously promoted special actions such as improving the quality and stable supply of traditional Chinese medicine raw materials. In July 2025, the General Affairs Department of the State Administration of Traditional Chinese Medicine issued the "Guidelines for the Construction and Management of Preventive Disease Treatment Departments in Traditional Chinese Medicine Hospitals (2025 Revised Edition)" to guide the standardized construction and scientific management of pre-disease treatment departments in Traditional Chinese Medicine hospitals. In December 2025, the "National Basic Medical Insurance, Maternity Insurance and Work-related Injury Insurance Drug Catalog (2025 Edition)" was officially released. The total number of drugs in the National Medical Insurance Drug Catalog reached 3,253, including 1,446 Western medicines, 1,335 Chinese patent medicines, 472 medicines negotiated during the agreement period (including 411 Western medicines, 61 Chinese patent medicines), and 892 Chinese medicines. The support policy for traditional Chinese medicine has been relatively complete, and traditional Chinese medicine will gradually enter the stage where the results of reform are showing.

From the perspective of development trends, the concentration of traditional Chinese medicine pieces continues to increase. Leading companies have expanded their share by relying on the advantages of the entire industry chain, GAP base construction and full traceability. The industry chain shows the restructuring characteristics of "concentration of upstream genuine production areas, midstream companies extending to planting and deep processing, and downstream hospital centralized procurement + retail chain + e-commerce three tracks in parallel", and the sinking of the county market is accelerating. In the future, China's traditional Chinese medicine piece industry will pay more attention to innovation and integration. On the one hand, by strengthening the integration with modern medicine and biotechnology, more effective products for specific diseases are developed; on the other hand, cross-border cooperation between traditional Chinese medicine pieces and other health industries such as health products and cosmetics is promoted to expand market boundaries. With the improvement of national health awareness and the emphasis on traditional Chinese medicine culture, the market demand for traditional Chinese medicine pieces continues to grow. Chinese business industry

Summary of the 2025 Annual Report of Zhejiang Shouxiangu Pharmaceutical Co., Ltd.

The "Forecast Report on China's Traditional Chinese Medicine Market Demand and Development Trends 2025-2030" released by the institute shows that the market size of China's traditional Chinese medicine pieces will reach 303.8 billion yuan in 2024, an increase of 8.97% from the previous year; combined with the industry development trend, the market size of traditional Chinese medicine pieces is expected to reach 320 billion yuan in 2025. With the deepening of global understanding of traditional medicine and the advancement of the “One Belt, One Road” initiative, Chinese traditional Chinese medicine pieces are expected to open up a broader international market.

(2) Overview of the health food industry

In 2025, China's health care products industry will show a development trend of "steady growth, structural differentiation, and value upgrading" under the multiple backgrounds of continued improvement in residents' health awareness, iteration of consumer groups, deepening channel changes, and tightening policy supervision. It is in a critical stage of transformation from "scale expansion" to "deep cultivation of quality." According to Euromonitor data, the market size of the domestic health care products industry will maintain a compound annual growth rate of 5.4% from 2018 to 2025, and the market size is expected to reach 264.1 billion yuan in 2025. The market scale is steadily expanding, category innovation continues to iterate, and brand competition is transforming from "marketing-driven" to "R&D + quality + service" multi-dimensional value-driven.

There will be a total of 456 domestically registered health food products approved in 2025, and only 6 newly registered imported products. From the perspective of functional distribution, they show the characteristics of "clustered core functions and diverse approved functions". The registered product functions focus on core needs such as "increasing immunity, antioxidant, anti-fatigue, and bone density", while taking into account the research and development directions of different functional requirements. Among dual-function health foods, two combinations each have been approved, including "helping to improve chloasma + helping to resist oxidation", "helping to enhance immunity + relieving physical fatigue", and "helping to improve bone density + helping to enhance immunity", which have become popular combinations. In the single-function category, the number of approvals for functions such as "helping to enhance immunity," "helping to maintain healthy blood sugar levels," and "helping to improve bone density" ranks among the top. Among them, functions that help enhance immunity perform prominently in both combination and single-function products, reflecting consumers' urgent need for enhanced immunity and basic health protection. Products that help improve chloasma, improve iron deficiency anemia, regulate intestinal flora and other functions are all available to meet the precise health needs of different groups of people.

The government has increased its support for the big health industry, encouraging innovative research and development and quality improvement, providing a good development environment for the industry. The increasing demand for high-quality, personalized health solutions among middle- and high-income groups has promoted the development of the high-end health food market. Market segments such as nutritional supplements, functional foods, and formula foods for special medical purposes have maintained rapid growth. The increased convenience of online shopping and the deepening influence of social media have made consumers more inclined to obtain information and make purchasing decisions through the Internet. With its strong R&D strength, brand influence and channel advantages, leading brands will further expand their market share. As the market becomes more attractive, more capital and entrepreneurial teams are pouring into the industry, intensifying market competition. Cross-border cooperation between traditional food companies, pharmaceutical companies and Internet platforms has increased, forming new competitive advantages. Using big data and artificial intelligence technology to accurately locate target consumer groups, develop products with differentiated advantages, and provide customized services has become a new research and development trend.

At the same time, the state continues to increase its supervision of the health care products industry, focusing on the three dimensions of product compliance, publicity standards, and quality and safety, completely ending the past extensive development model of "emphasis on marketing over quality." The State Administration for Market Regulation continues to promote

Summary of the 2025 Annual Report of Zhejiang Shouxiangu Pharmaceutical Co., Ltd.

Carry out health food registration and filing management reforms, strictly review new product functional claims, and severely crack down on false propaganda, exaggerated propaganda and other behaviors. At the same time, the construction of the "health food blockchain traceability system" has been accelerated, and now covers 85% of leading companies, achieving full traceability of products from raw materials to terminals, effectively strengthening quality and safety control. The focus of brand marketing has shifted from "exaggerated propaganda" to "value delivery", and brand trust has been enhanced through popular science content, expert endorsements, and testimonials from real users. Due to weak R&D capabilities, insufficient compliance reserves, and limited channel resources, small and medium-sized brands are being eliminated by the market at an accelerated pace, and industry concentration is expected to continue to increase.

(3) Overview of Ganoderma lucidum and Ganoderma lucidum spore powder industry

Ganoderma lucidum has been used medicinally in my country for more than 2,000 years. Ganoderma spore powder is a tiny egg-shaped germ cell ejected from the bacterial tube during the growth and maturity stage of Ganoderma lucidum. It contains all the genetically active substances of Ganoderma lucidum. Modern pharmacology and clinical experiments have shown that Ganoderma lucidum spore powder can nourish qi and calm the mind, strengthen the spleen and lungs, and has auxiliary protective effects against radiation hazards. It can improve immunity and is suitable for people with low immunity such as tumors, cardiovascular and cerebrovascular diseases, Alzheimer's disease, and sub-health. Because Ganoderma spores are wrapped in two layers of tough chitin shells, which cannot be absorbed by the human body, and are difficult to destroy by ordinary physical and chemical methods. Therefore, the research and development of Ganoderma spore powder has been stagnant before the development of technology. In recent years, with the development of cultivation technology and wall-breaking and wall-removal technology, Ganoderma spore powder products have gradually entered the consumer market.

Ganoderma spore powder is gradually gaining recognition among consumers and its market size is growing. Ganoderma spore powder is rich in a variety of biologically active substances, mainly including Ganoderma polysaccharides, triterpenoids, peptides and amino acids, and trace elements. Studies have found that Ganoderma lucidum polysaccharides have immunomodulatory, anti-tumor, antioxidant and other effects; triterpenoids have anti-inflammatory, anti-viral, hypolipidemia and other effects; peptides and amino acids can help enhance physical strength and improve sleep quality. The various active ingredients of Ganoderma lucidum spore powder make it widely used in health care, disease prevention and auxiliary treatment, and are suitable for the health needs of different groups of people.

Judging from the sales areas of Ganoderma lucidum and Ganoderma lucidum spore powder, they are mainly concentrated in developed eastern and coastal areas with relatively high per capita income levels and strong health awareness. From the perspective of consumer groups, they are mainly concentrated in older groups with certain financial affordability, and are mainly used for disease prevention and health care purposes. From the perspective of sales channels, out of trust in brand products, consumers mostly purchase through time-honored pharmacies, brand-operated stores or chain pharmacies, and some consumers purchase through supermarkets and the Internet.

With the release of the "Dosage Forms and Technical Requirements for Registered Products of Five Health Food Raw Materials including Coenzyme Q10", Ganoderma spore powder was included in the catalog of registered health food raw materials. A large number of enterprises producing and selling Ganoderma spore powder products have emerged on the market. However, there are few enterprises that have formed a whole industry chain system of breeding, cultivation, R&D, production, and sales, and the products have low technical content and uneven quality. Over the years, Shouxiangu has always adhered to the development of the entire industrial chain of germplasm resource collection, improved seed breeding, organic cultivation, product research and development, intensive processing, standard setting and pharmacological clinical research. It has mastered the exclusive patented technology of wall removal and led the formulation of "Traditional Chinese Medicine - Ganoderma lucidum" and "Chinese Medicine". Medicine - Broken Ganoderma Spore Powder" ISO international standard, "Ganoderma Ganoderma Cultivation and Harvesting Technical Regulations" national standard, and led the revision of "Zhejiang Province Ganoderma Spore Powder Processing Specifications", participated in the drafting of a number of Ganoderma lucidum local standards and industry standards, leading the industry.

Summary of the 2025 Annual Report of Zhejiang Shouxiangu Pharmaceutical Co., Ltd.

(4) Overview of the Dendrobium officinale industry

Dendrobium officinale is a perennial epiphytic herb of the genus Dendrobium of the Orchidaceae family. Its medicinal history has been more than 2,000 years. Since the 2010 edition of the "Chinese Pharmacopoeia", it has been recorded as a single species. From November 2023, it will be included in the national "medicine and food homologous" catalog. Modern clinical and pharmacological research has proven that Dendrobium officinale can benefit the stomach, promote fluid production, nourish yin and clear away heat, and can improve human immunity. It is widely used in clinical TCM in patients with diabetes, tumors, pharyngitis, cataracts, cardiovascular diseases, etc.

The regional distribution of Dendrobium candidum cultivation and production enterprises is obvious, mainly concentrated in Zhejiang and Yunnan provinces. From the perspective of sales area, it is mainly concentrated in Zhejiang, followed by developed coastal cities such as Shanghai, Jiangsu, Beijing, and Guangdong. The Dendrobium officinale products currently sold on the market are mainly divided into three categories. The first category is fresh products, including stems, flowers, and leaves, of which the stems are the most important sales items; the second category is made of Dendrobium officinale stems into dried products, mainly Dendrobium officinale and Dendrobium officinale; the third category is deeply processed products based on health foods, including granules, capsules, tablets, oral liquids, extracts and other dosage forms. From the perspective of consumer groups, they are mainly concentrated in older groups with certain financial affordability.

Product type Product nature Typical products Consumer group Consumption area Fresh products Traditional Chinese medicinal materials Dendrobium officinale fresh strips

Strong awareness of health care,

Zhejiang, Shanghai, and Beijing are older and have

Dried products, traditional Chinese medicine pieces, Dendrobium officinale, Fengdou officinale

Beijing, Guangdong, and Jiangsu have certain economic strength

Tiepi Fengdou granules, capsules, and other deeply processed products in economically developed areas, health food, population

Lozenges, extracts, etc.

Zhejiang companies have leading advantages in the deep processing and sales of Dendrobium officinale. At present, Zhejiang has formed industrial clusters with Tiantai, Yueqing, Jinhua, and Hangzhou as its industrial clusters. A number of backbone enterprises such as Zhejiang Tianhuang Pharmaceutical Co., Ltd., Jinhua Shouxiangu Pharmaceutical Co., Ltd., Conba Group Co., Ltd., and Zhejiang Senyu Pharmaceutical Co., Ltd. have become the backbone of industrial development. Leading brands such as Lizuan, Shouxiangu, Senshan, and Conbeji Gongyuan have initially been formed.

(1) The company’s main business

The company is a Chinese time-honored enterprise, a national high-tech enterprise, a national key agricultural leading enterprise, and a national intangible cultural heritage protection unit specializing in the selection, cultivation, processing and sales of precious Chinese medicinal materials such as Ganoderma lucidum, Dendrobium officinale and saffron. The main products include Shouxiangu brand Ganoderma spore powder (broken), Shouxiangu brand broken Ganoderma spore powder, Shouxiangu brand broken Ganoderma spore powder granules, Shouxiangu brand broken Ganoderma spore powder tablets, Shouxiangu brand Tiepi Fengdou granules, Shouxiangu brand Tiepi Fengdou Ganoderma extract, etc.

Summary of the 2025 Annual Report of Zhejiang Shouxiangu Pharmaceutical Co., Ltd.

The company has always adhered to the business purpose of "innovating modern biotechnology, cultivating authentic rare medicinal materials, collecting the essence of traditional Chinese medicine, and serving the people's health and longevity". Focusing on the core main business of processing precious traditional Chinese medicine pieces such as Ganoderma lucidum and Dendrobium officinale and health food, the company continues to improve the "whole industry chain" business model, optimize the industrial layout, expand development space, rely on the core competitive advantages of the Shouxian Valley brand, comprehensively enhance the comprehensive strength of the enterprise, and realize the rise from a regional leading enterprise to a national organic traditional Chinese medicine brand enterprise.

(2) The company’s main business model

The company's main products are Ganoderma spore powder (broken), Ganoderma spore powder broken, Ganoderma spore powder granules, Ganoderma spore powder tablets, Tiepi Fengdou granules and Tiepi Fengdou Ganoderma extract, etc. Its main business model is as follows:

1. Raw material supply model

The company's production raw materials are mainly Ganoderma spore powder (raw materials), fresh Dendrobium officinale, dried Dendrobium officinale and other Chinese medicinal materials, which are mainly produced by the base and purchased from external sources. In addition, the company also purchases Ganoderma lucidum rods with strains provided by the company to cultivate Ganoderma lucidum itself and produce Ganoderma spore powder.

(1) Base self-production model

The base self-production model means that the company leases land and hires employees to cultivate and manage Ganoderma lucidum and Dendrobium candidum in strict accordance with the company's planting standards and requirements, forming the company's own planting base. When Ganoderma lucidum and Dendrobium officinale reach a harvestable state, the company picks them and uses them as raw materials according to the production plan.

Under this model, the company can effectively control the quality and safety of raw materials from the source and ensure a stable supply of raw materials, but the initial investment is large and the payback period is long. At present, the company has established standardized planting bases for traditional Chinese medicinal materials in Baimu Township and Yuyuan Township, Wuyi, which are mainly used to grow Ganoderma lucidum, Dendrobium officinale, saffron, feverfew, trifoliate and other Chinese medicinal materials.

(2) Outsourcing model

There are two outsourcing models: one is the cooperative planting model, that is, the company signs a contract with farmers and farmers' professional cooperatives to provide them with strains, seedlings and technical guidance for free. When the Ganoderma spore powder (raw materials), Ganoderma mushroom sticks, fresh Dendrobium officinale and dried Dendrobium officinale produced by the farmers or farmers' professional cooperatives are accepted and accepted, the company will repurchase them all at the agreed price agreed in advance in the contract. The second is the general procurement model, that is, the company directly purchases from farmers, farmers' professional cooperatives or other legal entities at market prices that meet the company's quality

Summary of the 2025 Annual Report of Zhejiang Shouxiangu Pharmaceutical Co., Ltd.

Standard Ganoderma spore powder (raw materials), fresh Dendrobium officinale, other Chinese medicinal materials, matrix and other raw materials. The company's outsourcing model is mainly based on cooperative planting model.

Under the cooperative planting model and the general procurement model, the Ganoderma spore powder (raw materials) provided to the company by farmers' professional cooperatives and farmers has not been processed in any way, nor has it been crushed or broken. The breaking of the Ganoderma spore powder (raw materials) is completed by the company.

2. Production mode

The company's production process is as follows:

At the end of each year, the production technology center formulates the next year's improved seed breeding plan, base production plan and factory production plan based on the company's five-year development strategy and the market forecast and sales plan provided by the marketing center. After approval by the general manager, the company's production plan for the year is formed. The production technology center combines the base greenhouse construction situation, base planting cycle, equipment operation status, raw material and finished product inventory, production cycle and other factors to form a monthly production plan, and arranges production after approval by the deputy general manager in charge of production.

3. Sales model

The company has formed a sales pattern that places equal emphasis on the distribution model and the direct sales model including Internet sales. The direct sales model mainly targets enterprises, institutions and individuals who purchase the company's products for direct consumption, while the distribution model mainly targets pharmaceutical chain stores, drug dealers, supermarkets and shopping malls.

(1) Distribution model

The distribution model refers to a sales model in which the company selects more than one dealer in a designated market area and sells products to end customers through the dealers. It is mainly targeted at pharmaceutical chain stores, drug dealers, supermarkets and shopping malls. It is divided into buy-out distribution (a buying and selling relationship is formed between the company and the dealer, and the dealer bears the risk of loss of goods) and consignment-type distribution (an entrustment relationship is formed between the company and the dealer, and the company bears the risk of loss of goods). The company mainly chooses large, well-known or reputable time-honored pharmacies and large supermarkets as partners to expand distribution channels.

(2) Direct sales model

The direct sales model refers to a sales model that directly sells products to end customers without going through intermediate sales links. It is mainly targeted at enterprises, institutions and individuals who purchase company products for direct consumption. Under the direct sales model, the company mainly achieves sales through retail and Internet channels.

Summary of the 2025 Annual Report of Zhejiang Shouxiangu Pharmaceutical Co., Ltd.

3. The company’s main accounting data and financial indicators

3.1 Main accounting data and financial indicators in the past three years

Unit: Yuan Currency: RMB

2024 This year is better than the previous year

2025 Increase or decrease in 2023 (%)

After adjustment Before adjustment

Total assets 3,281,532,180.75 3,131,807,017.80 3,131,185,579.81 4.78 3,174,354,361.97 Net assets attributable to shareholders of listed companies

2,259,518,516.60 2,291,287,346.15 2,294,019,344.33 1.39 2,171,288,696.67 production

Operating income 640,181,536.51 705,110,520.62 691,683,550.87 -9.21 784,347,256.55 Total profit 102,139,000.42 174,480,107.86 174,727,196.81 -41.46 254,910,931.62 Net profit attributable to shareholders of listed companies

18,174,274.31 174,435,157.80 174,714,540.37 -89.58 254,480,058.49 profit

Deductions attributable to shareholders of listed companies

-3,492,883.88 142,644,186.5 142,923,569.04 -102.45 226,725,654.36 Net profit from non-recurring gains and losses

Net cash flow from operating activities

228,071,843.65 214,969,584.95 213,440,267.55 6.09 315,057,385.63

Weighted average return on equity (%) 0.80 7.82 7.83 A decrease of 7.02 percentage points 12.44 Basic earnings per share (yuan/share) 0.09 0.88 0.88 -89.77 1.3 Diluted earnings per share (yuan/share) 0.09 0.88 0.88 -89.77 1.3

3.2 Main accounting data by quarter during the reporting period

Unit: Yuan Currency: RMB First quarter Second quarter Third quarter Fourth quarter

(January to March) (April to June) (July to September) (October to December) Operating income 175,913,262.03 128,878,333.70 130,454,533.70 204,935,407.08 Net profit attributable to shareholders of listed companies 58,662,418.69 7,184,671.68 10,783,105.44 -58,455,921.50

Summary of the 2025 Annual Report of Zhejiang Shouxiangu Pharmaceutical Co., Ltd.

Non-recurring deductions attributable to shareholders of listed companies

41,581,002.27 -3,078,781.30 6,462,552.13 -48,457,656.98Net profit after profit and loss

Net cash flow generated from operating activities 70,929,451.29 52,816,267.17 20,940,482.65 83,385,642.54 Explanation of differences between quarterly data and disclosed periodic report data

□Applicable √Not applicable

Summary of the 2025 Annual Report of Zhejiang Shouxiangu Pharmaceutical Co., Ltd.

4. Shareholder situation

4.1 The total number of common shareholders, the total number of preferred shareholders with restored voting rights, the total number of shareholders holding shares with special voting rights and the top 10 shareholders at the end of the reporting period and the end of the month before the annual report is disclosed

Unit: Total number of ordinary shareholders (households) as of the end of the reporting period 22,035 Total number of common shareholders (households) as of the end of the previous month before the date of disclosure of the annual report 24,048 Total number of preference shareholders (households) with voting rights restored as of the end of the reporting period 0 Total number of preference shareholders (households) with restored voting rights as of the end of the previous month before the date of disclosure of the annual report 0 Shareholding status of the top ten shareholders (excluding shares lent through refinancing)

Holds pledged, marked or frozen

Name of shareholder Number of shares held at the end of the reporting period Ratio Sales restriction clauses Shareholder (full name) Increase or decrease Amount (%) Number of shares Nature of shares

Quantity of copies Status

Domestic Zhejiang Shouxiangu Investment Management African Country

0 56,711,239 28.61 0 None 0

Limited company with legal person

Domestic Li Zhenhao 0 15,041,650 7.59 0 None 0 Natural person

Domestic Li Zhenyu 3,964,800 9,078,961 4.58 0 None 0 Natural person

Domestic Xu Meiyun 0 2,833,900 1.43 0 None 0 Natural person

Domestic Founder 0 2,600,100 1.31 0 None 0 Natural person

Domestic Zhong Jinqiang 310,000 1,810,000 0.91 0 None 0 Natural person

Within Wang Ying 0 1,669,183 0.84 0 None 0 Natural

Industrial and Commercial Bank of China Co., Ltd.

Co., Ltd. - Rongtong Health Products

127,000 1,282,300 0.65 0 None 0 Flexible allocation of hybrid certificates for other industries

securities investment funds

Naais Zhejiang Investment Co., Ltd. Domestic

1,025,500 1,210,500 0.61 0 None 0

Company Non-State Zhejiang Shouxiangu Pharmaceutical Co., Ltd. 2025 Annual Report Summary

Have legal person

Du Hongping within the territory 0 1,000,000 0.50 0 None 0 Natural

1. The Li Mingyan family (Li Mingyan, Zhu Huizhao, Li Zhenhao, and Li Zhenyu) are Gongming The above four people are joint actual controllers of the company. The above four people directly or indirectly hold 40.78% of the company's equity. Among them, Li Mingyan and Zhu Huizhao are husband and wife, Li Zhenhao and Li Zhenyu are brothers, and Li Zhenhao and Li Zhenyu are the sons of Li Mingyan and Zhu Huizhao. Li Mingyan and Zhu Huizhao hold 65.00% and 35.00% of the equity of the controlling shareholder Shouxiangu Investment respectively. Shouxiangu Investment, Li Zhenhao and Li Zhenyu are persons acting in concert;

2. Wang Ying is the niece of Li Mingyan and Zhu Huizhao; Wang Ying, Li Zhenhao and Li Zhenyu are cousins;

3. Except for the above situation, the company is not aware of the related relationships and concerted actions among other shareholders.

Preferred shareholders with restored voting rights and number of shares held

Not applicable

Description of quantity

4.2 Block diagram of the property rights and control relationship between the company and its controlling shareholder

√Applicable □Not applicable

4.3 Block diagram of the property rights and control relationship between the company and the actual controller

√Applicable □Not applicable

Summary of the 2025 Annual Report of Zhejiang Shouxiangu Pharmaceutical Co., Ltd.

4.4 The total number of preferred shareholders of the company and the top 10 shareholders at the end of the reporting period □Applicable √Not applicable

5. Corporate bonds

□Applicable √Not applicable

Summary of the 2025 Annual Report of Zhejiang Shouxiangu Pharmaceutical Co., Ltd.

Section 3 Important Matters

1. The company shall, in accordance with the principle of materiality, disclose major changes in the company's operating conditions during the reporting period, as well as events that occurred during the reporting period that have a significant impact on the company's operating conditions and are expected to have a significant impact in the future.

During the reporting period, the company achieved operating income of RMB 640.1815 million, a year-on-year decrease of 9.21%; net profit attributable to shareholders of listed companies was RMB 18.1743 million, a year-on-year decrease of 89.58%; net profit attributable to shareholders of listed companies excluding non-recurring gains and losses was -3.4929 million yuan, a year-on-year decrease of 102.45%.

2. If there is a delisting risk warning or listing termination after the company's annual report is disclosed, the reasons that led to the delisting risk warning or listing termination should be disclosed.

□Applicable √Not applicable