Stock Code: 002353 Stock Abbreviation: Jereh Group Announcement No.: 2026-056
Yantai Jereh Oilfield Services Group Co., Ltd.
"Fighter No. 11" Employee Stock Ownership Plan (Draft)
Summary
August 2026
Statement
The Company and all members of the Board of Directors guarantee that the information disclosed is true, accurate, and complete, with no false records, misleading statements, or major omissions.
Risk Warning
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The "Fighter No. 11" Employee Stock Ownership Plan (hereinafter referred to as the "Employee Stock Ownership Plan") of Yantai Jereh Oilfield Services Group Co., Ltd. (hereinafter referred to as the "Company" or "Jereh Group") must be approved by the General Meeting of Shareholders before implementation. There is uncertainty as to whether this plan will be approved.
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The specific funding sources, investment amounts, and implementation plans for this Employee Stock Ownership Plan are preliminary results; there is uncertainty regarding whether they can be fully implemented.
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If participating employees waive their subscription, leading to insufficient subscription funds, there is a risk that the Employee Stock Ownership Plan may fail to be established, or may be established at a scale lower than expected.
The Company will fulfill its information disclosure obligations based on subsequent progress. Investors are advised to make decisions cautiously and pay attention to investment risks.
Special Notice
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The "Yantai Jereh Oilfield Services Group Co., Ltd. 'Fighter No. 11' Employee Stock Ownership Plan (Draft)" is formulated 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 Pilot Employee Stock Ownership Plans for Listed Companies, the Shenzhen Stock Exchange Self-Regulatory Guidelines for Listed Companies No. 1 — Standardized Operation of Main Board Listed Companies, and other relevant laws, administrative regulations, rules, normative documents, and the Articles of Association of Yantai Jereh Oilfield Services Group Co., Ltd.
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The total number of employees participating in this Employee Stock Ownership Plan shall not exceed 813, including 1 senior manager. The scope of participants includes senior managers recognized by the Company, as well as middle management and core employees serving in the Company or its holding subsidiaries. It does not include shareholders or actual controllers who individually or collectively hold 5% or more of the Company's shares, nor their spouses, parents, or children. The final list of participants, the number of people, and the final share allocation will be determined based on actual employee payments.
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The total funding cap for this Employee Stock Ownership Plan is 174 million RMB, with "shares" as the subscription unit, at 1 RMB per share. The maximum number of shares for this plan is 174 million shares. The final total amount of raised funds shall be subject to the actual amount raised.
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Funding sources include self-raised funds such as legal employee compensation, the Company's matching incentive fund, and other funds permitted by laws and regulations. The total self-raised funds by employees shall not exceed 87 million RMB, and the Company's matching incentive fund shall not exceed 87 million RMB.
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The source of shares for this Employee Stock Ownership Plan is Jereh Group A-share common stock repurchased by the Company's dedicated repurchase account. After the plan is approved by the General Meeting of Shareholders, the Company will obtain the shares held in the dedicated repurchase account through non-transactional transfers or other methods permitted by laws and regulations.
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The purchase price for the repurchased shares under this Employee Stock Ownership Plan is 140.80 RMB per share, which is the closing price of the Company's stock on the trading day prior to the date the Board of Directors deliberated on this plan.