Announcement on Repurchase and Cancellation of Part of Restricted Stocks
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 Shengshi Technology Co., Ltd. (hereinafter referred to as the "Company") held the seventh meeting of the fourth board of directors on April 13, 2026, and deliberated and passed the "Proposal on Repurchase and Cancellation of Part of Restricted Stocks". In view of the fact that 6 initial grantees and 2 reserved grantees of the Company's 2024 Restricted Stock Incentive Plan (hereinafter referred to as the "Plan") are no longer eligible due to resignation, and 3 initial grantees cannot fully lift the restrictions on their granted restricted stocks due to individual performance assessment reasons, the Company will repurchase and cancel a total of 55,500 restricted stocks that cannot be lifted due to the above reasons. This proposal needs to be submitted to the Company's 2025 annual general meeting of shareholders for deliberation and approval before it can be implemented. The specific situation is announced as follows:
I. Relevant Approval Procedures for the Implementation of the Current Incentive Plan
(I) On December 31, 2024, the Company held the twenty-third meeting of the third board of directors and the sixteenth meeting of the third supervisory board, and deliberated and passed the "Proposal on the <Shenzhen Shengshi Technology Co., Ltd. 2024 Restricted Stock Incentive Plan (Draft)> and its Summary" and other related proposals. The supervisory board issued its review opinion on the current incentive plan.
(II) From January 3, 2025, to January 12, 2025, the Company internally publicized the "List of Initial Grantees of the 2024 Restricted Stock Incentive Plan". Upon expiration of the publicity period, the Company's supervisory board did not receive any objections regarding the initial grantees of the current incentive plan. On January 15, 2025, the Company disclosed the "Supervisory Board's Review Opinion and Publicity Statement on the List of Initial Grantees of the 2024 Restricted Stock Incentive Plan" (Announcement No.: 2025-006).
(III) On January 20, 2025, the Company held its first extraordinary general meeting of shareholders in 2025, and deliberated and passed the "Proposal on the <Shenzhen Shengshi Technology Co., Ltd. 2024 Restricted Stock Incentive Plan (Draft)> and its Summary", and the "Proposal on Authorizing the Company's Shareholders' Meeting to Handle Matters Related to the 2024 Restricted Stock Incentive Plan". The Company's board of directors conducted a self-inspection on the insider trading of information related to the current incentive plan and the trading of company stocks by grantees, and on January 21, 2025, disclosed the "Self-Inspection Report on Insider Trading of Information Related to the 2024 Restricted Stock Incentive Plan and Trading of Company Stocks by Grantees" (Announcement No.: 2025-008).
(IV) On January 22, 2025, the Company held the twenty-fifth meeting of the third board of directors and the eighteenth meeting of the third supervisory board, and deliberated and passed the "Proposal on Adjusting Matters Related to the 2024 Restricted Stock Incentive Plan" and the "Proposal on Granting Restricted Stocks to Initial Grantees of the 2024 Restricted Stock Incentive Plan". According to the authorization of the Company's first extraordinary general meeting of shareholders in 2025, the board of directors adjusted the relevant matters of the current incentive plan and determined the initial grant date as January 22, 2025. The Company's supervisory board reviewed and issued its review opinion on the list of grantees and the initial grant matters.
(V) On February 25, 2025, the Company completed the initial grant registration for the 2024 Restricted Stock Incentive Plan and disclosed the "Announcement on the Completion of Initial Grant Registration for the 2024 Restricted Stock Incentive Plan" (Announcement No.: 2025-022).