Announcement on the Completion of Cancellation of Certain Stock Options and No Adjustment to the Conversion Price of "Tai Neng Convertible Bonds"
China Energy Conservation Solar Co., Ltd. (hereinafter referred to as the "Company") and all members of the Board of Directors guarantee that the content of this information disclosure is true, accurate, and complete, without any false records, misleading statements, or significant omissions.
Important Content Reminder:
- The exercise period for the first grant of stock options under the Company's 2020 stock option incentive plan has expired, and a total of 92,130 options from 2 incentive recipients remain unexercised and will be canceled by the Company.
- Due to the small proportion of newly added shares from the 2020 stock option incentive plan after the end of the third exercise period relative to the Company's total share capital, the conversion price of the "Tai Neng Convertible Bonds" does not need to be adjusted and remains at 5.55 yuan per share.
On April 22, 2026, the 28th meeting of the 11th Board of Directors of the Company reviewed and approved the proposal on the cancellation of certain stock options from the 2020 stock option incentive plan. According to the relevant provisions of the Company's "2020 Stock Option Incentive Plan," stock options that remain unexercised at the end of each exercise period shall be terminated, and the Company will cancel them.
I. Situation of the Cancellation of Certain Stock Options
The total number of stock options available for exercise in the third exercise period of the Company's 2020 stock option incentive plan is 8,068,140 options. The exercise period for the first grant of these options is from January 22, 2025, to January 21, 2026, and the exercise period for reserved stock options is from April 26, 2025, to April 25, 2026. As of February 2026, the exercise period for the first grant of options in the third exercise period has expired, and a total of 92,130 options from 2 incentive recipients remain unexercised; all reserved options have been fully exercised. The Company intends to cancel the aforementioned 92,130 options that have expired and remain unexercised. For details, please refer to the announcement titled "Announcement on the Cancellation of Certain Stock Options from the 2020 Stock Option Incentive Plan" (Announcement No. 2026-38) published by the Company on April 24, 2026, in the Shanghai Securities Journal, China Securities Journal, Securities Times, Securities Daily, and on the Giant Tide Information Network (http://www.cninfo.com.cn).