Management Measures for the 2025 Employee Stock Ownership Plan (Medium to Long-term Employee Stock Ownership Plan)

Management Measures for the 2025 Employee Stock Ownership Plan (Medium to Long-term Employee Stock Ownership Plan)

Chapter 1: Formulation of the Employee Stock Ownership Plan

Article 1: Basic Principles of the Employee Stock Ownership Plan

1. Principle of Legal Compliance
   The company implements the employee stock ownership plan in strict accordance with the provisions of laws and administrative regulations, ensuring truthful, accurate, complete, and timely information disclosure. No one may use the employee stock ownership plan for insider trading or other securities fraud.

2. Principle of Voluntary Participation
   The implementation of the employee stock ownership plan follows the principle of voluntary participation, where the company does not force employees to participate through allocation or coercion.

3. Principle of Shared Interests
   The number of shares actually allocated to holders should be strictly linked to the achievement of key performance indicators of the company and its subsidiaries, as well as individual performance, forming a mechanism for sharing interests among shareholders, the company, and holders.

4. Principle of Risk Bearing
   Participants in the stock ownership plan bear their own profits and losses, sharing risks equally with other investors.

Article 2: Participants in the Employee Stock Ownership Plan

The participants in this stock ownership plan include middle management and outstanding core employees of the company. Specifically, participants include:

1. Heads of departments at the company headquarters, senior professionals, and other personnel of equivalent management and professional levels;
2. Management and professional personnel at subordinate business units equivalent to the above positions;
3. Outstanding core personnel who play a key role in the company's operational performance and long-term development.
   All participants must work for the company or its subordinate units and receive compensation.

Article 3: Sources of Funds and Stocks for the Employee Stock Ownership Plan

1. Sources of Funds
   (1) The funds for this stock ownership plan come from employees' lawful income, performance bonuses, or other legally permitted means. The total amount for this stock ownership plan shall not exceed 570 million yuan.
   (2) The plan does not involve the company providing financial assistance or guarantees for loans to participants, nor does it involve leveraged funds.
   (3) There are no arrangements for third parties to provide rewards, subsidies, or guarantees for employees participating in the stock ownership plan.