Announcement on Repurchasing and Canceling Part of the 2023 Restricted Stock and Stock Option Incentive Plan

Shenzhen索菱实业股份有限公司 (Shenzhen Soling Industrial Co., Ltd.) Announcement No.: 2026-021

Announcement on Repurchasing and Canceling Part of the 2023 Restricted Stock and Stock Option Incentive Plan

The company and all members of the board of directors guarantee the truthfulness, accuracy, and completeness of the information disclosed, and there are no false records, misleading statements, or major omissions.

Shenzhen Soling Industrial Co., Ltd. (hereinafter referred to as the "Company") held its second meeting of the sixth board of directors on March 20, 2026, and reviewed and approved the "Proposal on Repurchasing and Canceling Part of the 2023 Restricted Stock and Stock Option Incentive Plan Restricted Shares." The details are as follows:

I. Decision-making Procedures and Information Disclosure of the Incentive Plan

1. On October 20, 2023, the Company held the sixth meeting of the fifth board of directors, which reviewed and approved the "Proposal on the <Company 2023 Restricted Stock and Stock Option Incentive Plan (Draft)> and its Summary," the "Proposal on the <Company 2023 Restricted Stock and Stock Option Incentive Plan Performance Management Measures>," and the "Proposal on Authorizing the Board of Directors to Handle Matters Related to the Restricted Stock and Stock Option Incentive Plan." The independent directors of the Company issued independent opinions on these matters. On the same day, the Company held the sixth meeting of the fifth board of supervisors, which reviewed and approved the "Proposal on the <Company 2023 Restricted Stock and Stock Option Incentive Plan (Draft)> and its Summary," the "Proposal on the <Company 2023 Restricted Stock and Stock Option Incentive Plan Performance Management Measures>," and the "Proposal on Verifying the <List of Initial Grantees of the Company 2023 Restricted Stock and Stock Option Incentive Plan>."

2. On October 21, 2023, the Company disclosed the "Announcement on Independent Directors Publicly Soliciting Voting Rights" on the Juchao Information Network. Mr. Li Ming, an independent director, as the solicitor, solicited voting rights from all shareholders of the Company for the proposals related to the Company's 2023 Restricted Stock and Stock Option Incentive Plan to be reviewed at the Company's third extraordinary general meeting of shareholders in 2023.

3. From October 23, 2023, to November 1, 2023, the Company publicly announced the names and positions of the proposed grantees internally. During the announcement period, the Company's board of supervisors did not receive any objections from employees regarding the proposed grantees for this plan. On November 2, 2023, the Company disclosed the "Explanation and Verification Opinion of the Board of Supervisors on the Public Announcement of the List of Initial Grantees of the 2023 Restricted Stock and Stock Option Incentive Plan."

4. On November 7, 2023, the Company held its third extraordinary general meeting of shareholders in 2023, which reviewed and approved the "Proposal on the <Company 2023 Restricted Stock and Stock Option Incentive Plan (Draft)> and its Summary," the "Proposal on the <Company 2023 Restricted Stock and Stock Option Incentive Plan Performance Management Measures>," and the "Proposal on Authorizing the Board of Directors to Handle Matters Related to the Restricted Stock and Stock Option Incentive Plan." The Company's implementation of this incentive plan was approved by the shareholders' meeting. On the same day, the Company disclosed the "Self-Inspection Report on Insiders and Grantees of the 2023 Restricted Stock and Stock Option Incentive Plan Trading Company Shares and Their Derivatives."

5. On November 22, 2023, the Company held the eighth meeting of the fifth board of directors and the eighth meeting of the fifth board of supervisors, respectively, and reviewed and approved the "Proposal on the Initial Grant of Restricted Shares and Stock Options to Grantees." The independent directors of the Company issued their independent opinions, and the board of supervisors verified the list of grantees for this grant and issued a verification opinion. Lawyers and other intermediaries provided relevant reports.