According to the recent announcement by Embedway Technologies (603496.SH), the company paid attention to the bill information disclosure platform of the Shanghai Bill Exchange and found that the company had overdue electronic commercial bills, which caused market concerns. The company and the board of directors have paid high attention to this issue and organized relevant personnel to verify it as soon as possible.

To avoid misleading investors, the company hereby explains and clarifies the following on the above-mentioned issues: after verification, the electronic commercial bills were overdue due to the bank's failure to transfer the funds in time. The amount involved in the electronic commercial bills of the company this time was 529,600 yuan, and the maturity date was June 27, 2024. On that day, the company had sufficient funds in its bank account, and the account balance was enough to pay the electronic commercial bills. As of July 1, 2024, the above electronic commercial bills have been paid and settled. Currently, the company's fund operation is normal and there is no credit risk.