Maixinlin (688685.SH): The other party in the computing power equipment purchase contract has once again breached the contract, and the company has issued a reminder

Zhitong Finance App News, Maixinlin (688685.SH) issued an announcement. The company signed an “Equipment Purchase Contract” with Company A (proxy name only) on June 26, 2026, agreeing that the company will purchase computing power server-related equipment from Company A. The total contract amount is about 890 million yuan (tax included). After the contract was signed, the company paid a deposit of 267 million yuan as agreed in the contract. Due to factors such as the shortage of goods in the upstream supply chain, Company A was unable to deliver the first batch of equipment as scheduled. The company sent a “reminder” to Company A on September 14 to urge the execution of the contract, but by the end of the delivery period agreed in the contract, Company A had not delivered any equipment, which constituted a breach of contract.

After agreement between the two parties, the Company and Company A signed a “Supplementary Agreement” to postpone and adjust the delivery time of the equipment under the original contract. According to the Supplementary Agreement, Company A shall deliver 16 devices by October 31, 2026. As of this period, Company A has only provided the company with the serial number of the equipment. Such acts are not considered to have completed delivery, nor do they necessarily mean that the company will be able to obtain the corresponding equipment and pass the inspection. Company A has once again breached the contract. In order to protect the legitimate rights and interests of the company and all shareholders, the company officially sent a “reminder” to Company A on October 30, 2026.

This time, Company A overdue delivery of equipment caused the implementation of the company's computing power resources to fall short of expectations, and plans related to the computing power business were delayed. This matter did not affect the production and operation of the existing main business. The company has paid the corresponding deposit. Although the contract already stipulates default and refund clauses, there is uncertainty about the recovery of the deposit, the acquisition of the penalty, and whether the equipment can finally be delivered, and the impact on the company's cash flow, current and future profit and loss cannot be accurately determined. The company has sent a “reminder” urging Company A to fulfill the contract as soon as possible. Further measures, including recovery, will be taken depending on the outcome of the negotiations, and progress will be promptly disclosed in accordance with regulations.