Announcement on the Completion of Grant Registration for Reserved Restricted Stock Incentive Plan for 2025 (New Shares)

Zhejiang Bofei Electric Co., Ltd. (hereinafter referred to as "the Company") and all members of the Board of Directors guarantee that the information disclosed is true, accurate, and complete, without any false records, misleading statements, or significant omissions.

Important Content Reminder:

1. Listing Date (New Shares): February 9, 2026
2. Registration Quantity (New Shares): 672,000 shares
3. Grant Price: 12.98 RMB/share
4. Number of Grantees (New Shares): 4 individuals
5. Source of Granted Shares (New Shares): The Company’s RMB A-share common stock issued to incentive objects

In accordance with the relevant regulations of the China Securities Regulatory Commission's "Management Measures for Equity Incentives of Listed Companies," the Shenzhen Stock Exchange, and the China Securities Depository and Clearing Corporation Limited Shenzhen Branch, as well as the "2025 Restricted Stock Incentive Plan of Zhejiang Bofei Electric Co., Ltd.," the Company has completed the grant registration work for the reserved restricted stock (new shares) involved in the 2025 restricted stock incentive plan (hereinafter referred to as "the Incentive Plan"). The specific circumstances are announced as follows:

I. Relevant Approval Procedures

1. On April 18, 2025, the Company held the 13th meeting of the 3rd Board of Directors and the 10th meeting of the 3rd Supervisory Board, where the Board approved the proposals regarding the "2025 Restricted Stock Incentive Plan (Draft)" and its summary, the "Implementation Assessment Management Measures for the 2025 Restricted Stock Incentive Plan," and the proposal to authorize the Board to handle matters related to equity incentives. The Supervisory Board expressed its review opinions on this equity incentive plan.
2. From April 23, 2025, to May 6, 2025, the Company publicly announced the names and positions of the incentive objects in its internal system for no less than 10 days, and on May 8, 2025, announced the "Supervisory Board's Publicity and Review Opinions on the List of Incentive Objects for the 2025 Restricted Stock Incentive Plan" (Announcement No.: 2025-039).
3. On May 19, 2025, the Company held the 2024 Annual General Meeting of Shareholders, which approved the proposals regarding the "2025 Restricted Stock Incentive Plan (Draft)" and its summary, the "Implementation Assessment Management Measures for the 2025 Restricted Stock Incentive Plan," and the proposal to authorize the Board to handle matters related to equity incentives. The Company also disclosed the "Self-Inspection Report on the Trading Situation of Insiders and Incentive Objects of the Company’s Stock" based on the review of insider trading.
4. On May 29, 2025, the Company held the 15th meeting of the 3rd Board of Directors and the 12th meeting of the 3rd Supervisory Board, where it approved the proposals regarding adjustments to the 2025 Restricted Stock Incentive Plan and the initial grant of restricted stock to the incentive objects.
5. On November 28, 2025, the Company held the 22nd meeting of the 3rd Board of Directors and the 17th meeting of the 3rd Supervisory Board, where it approved the proposal to repurchase and cancel part of the restricted stock under the 2025 Restricted Stock Incentive Plan.
6. On December 16, 2025, the Company held the 3rd extraordinary general meeting of shareholders in 2025, which approved the proposal to repurchase and cancel part of the restricted stock under the 2025 Restricted Stock Incentive Plan. On the same day, the Company held the 23rd meeting of the 3rd Board of Directors, which approved the proposal to grant the reserved part of the restricted stock to the incentive objects.