Global Corn Group Limited — Earnings Release 2025

Mar 1, 2026

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

GLOBAL CORN

GLOBAL CORN GROUP LIMITED

大成玉米集團有限公司*

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 03889)

INSIDE INFORMATION

PROFIT WARNING

This announcement is made by Global Corn Group Limited (the "Company", together with its subsidiaries, the "Group") pursuant to Rule 13.09 of the Rules Governing the Listing of Securities (the "Listing Rules") on The Stock Exchange of Hong Kong Limited and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong).

The board (the "Board") of directors (the "Directors") of the Company wishes to inform the shareholders of the Company (the "Shareholders") and potential investors that based on the preliminary review of the Group's unaudited consolidated management accounts for the year ended 31 December 2025 (the "Year") currently available, the Group is expected to record a total revenue of approximately HK$491.0 million, as compared to a total revenue of HK$623.5 million for the year ended 31 December 2024 (the "Corresponding Prior Year"), and a net loss (before tax effect) in the range of approximately HK$120.0 million to HK$140.0 million for the Year, as compared to the net profit (before tax effect) of approximately HK$57.2 million recorded for the Corresponding Prior Year.

— 1 —

---

Such change is primarily attributable to the following factors:

(a) the persistent oversupply of sweetener products and keen market competition in the Mainland China which has kept market prices under sustained downward pressure. The Group has implemented strategic adjustment to output to achieve an optimal production operation rate for sweetener products, aiming to balance the market presence and profitability of the Group; and

(b) the absence of recognition of the following during the Year:

(i) a one-off gain of approximately HK$167.6 million recorded upon the completion of the debt restructuring agreement entered into between (i) 中國信達資產管理股份有限公司吉林省分公司 (Jilin Branch of China Cinda Asset Management Co., Ltd.), as creditor, (ii) 錦州元成生化科技有限公司 (Jinzhou Yuancheng Bio-chem Technology Co., Ltd.), as debtor, and (iii) 上海好成食品發展有限公司 (Shanghai Haocheng Food Development Co., Ltd.*), as guarantor, both of which are indirect wholly-owned subsidiaries of the Company, in January 2024; and

(ii) a one-off gain of approximately HK$42.2 million recorded in relation to the disposal of Global Sweeteners Retail Investment Company Limited, a former wholly-owned subsidiary of the Company, and its subsidiaries in April 2024.

As at the date of this announcement, the Company is in the course of finalising its final results for the Year. The information contained in this announcement is only based on the preliminary assessment by the management of the Group with reference to the unaudited consolidated management accounts of the Group for the Year and information currently available to it, which has not been confirmed or reviewed by the Company's auditor. Shareholders and potential investors are advised to read carefully the final results announcement of the Company for the Year which is expected to be published by the end of March 2026 in compliance with the Listing Rules.

Shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company.

By order of the Board

Global Corn Group Limited

Wang Tieguang

Joint Chairman

Hong Kong, 2 March 2026

---

As at the date of this announcement, the Board comprises three executive Directors, namely, Mr. Wang Tieguang, Mr. Kong Zhanpeng and Mr. Li Fangcheng; one non-executive Director, namely, Mr. Tai Shubin; and three independent non-executive Directors, namely, Ms. Liu Ying, Ms. Li Guichen and Mr. Lo Kwing Yu.

• For identification purpose only

— 3 —