Announcement on the Completion of Grant Registration for Reserved Restricted Stock Incentive Plan for 2025

Important Notice:

1. Grant Date of Reserved Restricted Stock: April 17, 2026
2. Listing Date of Reserved Restricted Stock: June 5, 2026
3. Number of Reserved Restricted Stock Granted: 535,500 shares
4. Grant Price of Reserved Restricted Stock: 4.67 yuan/share
5. Number of Recipients for Reserved Stock: 9 individuals
6. Source of Shares: Issued by the company to the incentive recipients

According to the regulations of the China Securities Regulatory Commission, the Shenzhen Stock Exchange, and the Shenzhen Branch of China Securities Depository and Clearing Corporation Limited, Shanghai NAR Industrial Co., Ltd. (hereinafter referred to as "the Company") has completed the grant registration work for the reserved portion of the 2025 restricted stock incentive plan. The specific situation is announced as follows:

I. Relevant Approval Procedures for the 2025 Restricted Stock Incentive Plan

1. On April 21, 2025, the Company held the 15th meeting of the 5th Board of Directors, which reviewed and approved the proposals regarding the "2025 Restricted Stock Incentive Plan (Draft)" and its summary, the "Implementation Assessment Management Measures for the 2025 Restricted Stock Incentive Plan," and the proposal to authorize the Board of Directors to handle matters related to the 2025 Restricted Stock Incentive Plan. The Compensation and Assessment Committee of the 5th Board of Directors expressed clear agreement on the relevant matters of this incentive plan.
2. From April 22 to May 1, 2025, the Company publicly announced the list of proposed incentive recipients through the Giant Tide Information Network and internally. During the announcement period, the Supervisory Board did not receive any objections from organizations or individuals regarding the proposed incentive recipients. On May 6, 2025, the Company disclosed the "Supervisory Board's Statement on the Truthfulness, Accuracy, and Completeness of Information Disclosure by the Company and All Members of the Board of Directors" (Announcement No. 2025-028).
3. On May 13, 2025, the Company's 2024 Annual General Meeting approved the proposals regarding the "2025 Restricted Stock Incentive Plan (Draft)" and its summary, the "Implementation Assessment Management Measures for the 2025 Restricted Stock Incentive Plan," and the proposal to authorize the Board of Directors to handle matters related to the 2025 Restricted Stock Incentive Plan.
4. On June 25, 2025, the Company held the 17th meeting of the 5th Board of Directors, which reviewed and approved the proposals regarding the adjustment of relevant matters of the 2025 Restricted Stock Incentive Plan and the proposal to grant restricted stock to the incentive recipients of the 2025 Restricted Stock Incentive Plan. The Compensation and Assessment Committee of the 5th Board of Directors expressed clear agreement on this. A law firm issued a legal opinion.
5. On July 9, 2025, the Company completed the registration work for the initial grant of the 2025 Restricted Stock Incentive Plan, with a total of 115 individuals, a grant price of 4.67 yuan/share, totaling 4.645 million shares. Tianzhi International Accounting Firm (Special General Partnership) issued the "Tianzhi Verification No. [2025] 33763" verification report on June 30, 2025.
6. On April 17, 2026, the Company held the 2nd meeting of the 6th Board of Directors, which reviewed and approved the proposals regarding the repurchase and cancellation of part of the granted but unvested restricted stock and the proposal to grant reserved restricted stock to the incentive recipients of the 2025 Restricted Stock Incentive Plan. It was agreed to repurchase and cancel a total of 130,000 shares of restricted stock held by three former incentive recipients, Zhu Guanda, Wang Qun, and Liu Chao, who no longer meet the incentive conditions due to resignation. After this repurchase and cancellation, the number of unvested restricted stock granted in the initial portion of the 2025 Restricted Stock Incentive Plan is 4.515 million shares, with 112 recipients. The reserved portion of the 2025 Restricted Stock Incentive Plan grants 9 individuals a total of 535,500 shares of restricted stock.
7. On May 27, 2026, the Company completed the repurchase and cancellation of 130,000 shares of restricted stock held by Zhu Guanda, Wang Qun, and Liu Chao due to their resignation and non-compliance with incentive conditions.