Legal Opinion from Beijing Jiayuan Law Firm on Hefei Xueqi Electric Co., Ltd.'s 2025 Restricted Stock Incentive Plan
Beijing Jiayuan Law Firm, located at 158 Fuxingmennei Street, 4th Floor, Ocean Building, Beijing, China, has been entrusted by Hefei Xueqi Electric Co., Ltd. (hereinafter referred to as "Xueqi Electric" or "the Company") to issue this legal opinion regarding the achievement of conditions for the first release of restrictions under the 2025 Restricted Stock Incentive Plan (hereinafter referred to as "the Incentive Plan"), the repurchase and cancellation of certain unvested restricted stocks, and the adjustment of the repurchase price.
In issuing this legal opinion, the lawyers of our firm conducted an investigation based on the relevant laws and regulations, including the Company Law of the People's Republic of China, the Securities Law of the People's Republic of China, the Management Measures for Equity Incentives of Listed Companies issued by the China Securities Regulatory Commission, the Listing Rules of the Shenzhen Stock Exchange, and the Articles of Association of Hefei Xueqi Electric Co., Ltd. The investigation included reviewing relevant documents of the Incentive Plan and discussing necessary matters with the Company's personnel.
The Company has assured us that all relevant original written materials, copies, or oral testimonies necessary for our review have been provided, and that such materials are true, accurate, and complete.