Siyuan Electric 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, complete, and does not contain any false records, misleading statements, or major omissions.
I. Meeting Information
The notice for the 29th meeting of the 8th Board of Directors of Siyuan Electric Co., Ltd. was delivered to all directors on May 25, 2026, via personal delivery, email, and other means. The meeting was held on June 3, 2026, through communication voting. The meeting was chaired by Mr. Dong Zengping, and all 7 directors attended. The convening of this board meeting complies with the laws, regulations, and the Company's Articles of Association.
II. Review of Meeting Resolutions
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The resolution on the election of the new Board of Directors was approved with 7 votes in favor, 0 against, and 0 abstentions. Due to the expiration of the term of the current Board, Mr. Dong Zengping, Mr. Chen Bangdong, Mr. Qin Zhengyu, Mr. Yang Zhihua, Mr. Qiu Yufeng, Ms. Ai Qian, and Ms. Chen Shiyun were nominated as candidates for the 9th Board of Directors (resumes attached). Among them, Mr. Qiu Yufeng, Ms. Ai Qian, and Ms. Chen Shiyun are candidates for independent directors, while Mr. Qin Zhengyu and Ms. Chen Shiyun are accounting professionals. The independent directors of the 8th Board, Mr. Ye Feng and Mr. Zhao Shijun, will not continue their roles after their terms expire, and the Company expresses heartfelt gratitude for their contributions during their tenure. The three independent director candidates have signed written commitments agreeing to accept the nominations and ensuring that the disclosed candidate information is true, accurate, complete, and meets the qualifications for office. They guarantee to fulfill their responsibilities if elected and comply with the relevant qualifications, conditions, and requirements for independent directors as listed in the "Guidelines for Information Disclosure No. 8 - Registration of Independent Directors." Ms. Chen Shiyun has not yet obtained the independent director qualification certificate but has committed to participate in the latest independent director training to obtain the certificate recognized by the Shenzhen Stock Exchange.
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The resolution on the director's compensation for the 9th Board was approved with 7 votes in favor, 0 against, and 0 abstentions. Based on the Company's actual situation and considering external market levels, the proposed compensation for the 9th Board is as follows: (1) Senior management, including the chairman, general manager, vice general managers, financial director, and board secretary, will be assessed and compensated according to the Company's "Compensation and Performance Assessment System for Senior Management." These senior managers who also serve as directors will not receive director compensation; (2) The compensation for independent directors is set at 13,000 yuan per month (tax included); (3) External non-independent directors will receive 11,000 yuan per month (tax included). The independent directors have reviewed the relevant content of this resolution and expressed clear agreement, with specific details published in the Company's announcement on June 3, 2026, on the Giant Tide Information Network (www.cninfo.com.cn).
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The resolution to amend the Articles of Association was approved with 7 votes in favor, 0 against, and 0 abstentions. Due to the exercise of stock options by the incentive targets in the second exercise period of the 2023 stock option incentive plan, resulting in an increase of 4,168,000 shares, the Company's registered capital and total shares will increase, necessitating amendments to Articles 6 and 19 of the Articles of Association. These amendments must be submitted for shareholder approval, and the Board requests authorization to handle related procedures. Specific details can be found in the announcement on June 3, 2026, published in the Securities Times and on the information disclosure website designated by the China Securities Regulatory Commission.