Chengdu Tianao Electronics Co., Ltd.
Announcement on the Completion of Repurchase and Cancellation of Part of Restricted Shares
The company and all members of its board of directors guarantee the content of the information disclosed is true, accurate, and complete, and that there are no false records, misleading statements, or material omissions.
Key Information Prompt:
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The company's "2021 A-share Restricted Stock Incentive Plan (Revised Draft)" (hereinafter referred to as the "Incentive Plan" or "2021 A-share Restricted Stock Incentive Plan") involved the repurchase and cancellation of 2,161,326 restricted shares held by 84 grantees from the initial grant and the reserved portion. Additionally, 104,000 restricted shares held by 4 grantees from the initial grant, who resigned for personal reasons, will be repurchased and cancelled. In total, 2,265,326 restricted shares will be repurchased and cancelled. The repurchase price for restricted shares from the initial grant is RMB 8.55 per share, and for the reserved portion, it is RMB 8.54 per share. The repurchase price for the unvested restricted shares held by the 4 grantees who resigned for personal reasons is RMB 8.55 per share.
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As of the date of this announcement, the repurchase and cancellation procedures for the aforementioned restricted shares have been completed at China Securities Depository and Clearing Corporation Limited Shenzhen Branch.
Chengdu Tianao Electronics Co., Ltd. (hereinafter referred to as the "Company") held its 19th meeting of the Fifth Board of Directors on April 23, 2026, and its 2025 Annual Shareholders' Meeting on May 19, 2026. The proposal "Regarding the Unfulfillment of the Third Vesting Period Conditions for the 2021 A-share Restricted Stock Incentive Plan and the Repurchase and Cancellation of Part of the Restricted Shares" was approved. A total of 2,265,326 restricted shares held by 88 grantees were repurchased and cancelled, accounting for 0.53% of the Company's total share capital at the time.
As of the date of this announcement, the repurchase and cancellation procedures for the aforementioned restricted shares have been completed at China Securities Depository and Clearing Corporation Limited Shenzhen Branch. The relevant matters are hereby explained as follows:
I. Relevant Approval Procedures and Implementation of the 2021 A-share Restricted Stock Incentive Plan
On December 18, 2021, the Company held the 18th meeting of the Fourth Board of Directors and the 14th meeting of the Fourth Supervisory Board, which reviewed and approved the "Proposal Regarding the <Chengdu Tianao Electronics Co., Ltd. 2021 A-share Restricted Stock Incentive Plan (Draft)> and its Summary," among other proposals. For details, please refer to the relevant announcements disclosed by the Company on the Juchao Information Network (http://www.cninfo.com.cn) on December 20, 2021.
On May 18, 2022, the Company received the "Approval for the Implementation of the Restricted Stock Incentive Plan of Chengdu Tianao Electronics Co., Ltd." (Guo Zi Kao Fen [2022] No. 181) from the State-owned Assets Supervision and Administration Commission of the State Council (hereinafter referred to as the "SASAC") issued to China Electronics Technology Group Corporation, which generally agreed to the implementation of the restricted stock incentive plan. For details, please refer to the announcement disclosed by the Company on the Juchao Information Network (http://www.cninfo.com.cn) on May 19, 2022.
On June 2, 2022, the Company held the 23rd meeting of the Fourth Board of Directors and the 17th meeting of the Fourth Supervisory Board, which reviewed and approved the "Proposal Regarding the <Chengdu Tianao Electronics Co., Ltd. 2021 A-share Restricted Stock Incentive Plan (Revised Draft)> and its Summary," among other proposals. For details, please refer to the relevant announcements disclosed by the Company on the Juchao Information Network (http://www.cninfo.com.cn) on June 3, 2022.