Legal Opinion on the Early Termination of the Third Phase Employee Stock Ownership Plan of Guoguang Electric Corporation Limited

✨ AI Summary

This legal opinion confirms Guoguang Electric Corporation Limited's early termination of its Third Phase Employee Stock Ownership Plan. The plan's initial implementation and subsequent revisions received necessary approvals from the Labor Union, Board of Directors, Supervisory Board, and Shareholders' Meeting. The early termination also underwent required internal procedures, including approval from the plan's holders and the Board of Directors, with specific directors abstaining. The legal opinion concludes that these actions comply with relevant laws and regulations.

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Legal Opinion

To: Guoguang Electric Corporation Limited

Shanghai Allbright Law Offices (hereinafter referred to as "the Firm") has been retained by Guoguang Electric Corporation Limited (hereinafter referred to as "Guoguang Electric" or "the Company") to issue this Legal Opinion regarding the early termination of the Company's Third Phase Employee Stock Ownership Plan. This opinion is issued in accordance with the "Company Law of the People's Republic of China," the "Securities Law of the People's Republic of China," the "Guiding Opinions on the Pilot Implementation of Employee Stock Ownership Plans for Listed Companies" (hereinafter referred to as the "Guiding Opinions"), the "Shenzhen Stock Exchange Main Board Listed Company Regulation No. 1 - Governance of Listed Companies" (hereinafter referred to as "Regulation No. 1"), and other relevant laws, administrative regulations, departmental rules, other normative documents, and the relevant regulations of the Shenzhen Stock Exchange.

For the purpose of issuing this Legal Opinion, the Firm's lawyers make the following declarations regarding the matters related to the issuance of this Legal Opinion:

The Firm's lawyers base their legal opinions on the currently effective laws, administrative regulations, departmental rules, other normative documents, and the relevant regulations of the Shenzhen Stock Exchange, as well as facts that have occurred or existed prior to the issuance of this Legal Opinion. This legal opinion is based on the Firm's understanding of the facts related to the Company's early termination of the Third Phase Employee Stock Ownership Plan and its interpretation of the relevant laws, administrative regulations, departmental rules, other normative documents, and the relevant regulations of the Shenzhen Stock Exchange. For facts that are crucial to the issuance of the legal opinion but cannot be independently substantiated by evidence, the Firm relies on certifications and oral confirmations from relevant government departments, the Company, or other relevant entities.

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