Announcement on the First Share Buyback via Centralized Bidding
Shanggao Electric New Technology Co., Ltd. (hereinafter referred to as "the Company") held the fifth meeting of the seventh board of directors on May 18, 2026, where it reviewed and approved the proposal on the share buyback plan. The Company agreed to use no less than RMB 90 million (inclusive) and no more than RMB 138 million (inclusive) of its own funds to repurchase its issued ordinary shares (A shares) through centralized bidding, for the purpose of an employee stock ownership plan. The repurchase price will not exceed RMB 16.41 per share, and the implementation period is within six months from the date of the board's approval of this buyback plan. For specific details, please refer to the announcement titled "Announcement on the Share Buyback Plan" (Announcement No. 2026-33) disclosed by the Company on May 19, 2026, on the Giant Tide Information Network (www.cninfo.com.cn).