Announcement on the Completion of Grant Registration for the 2026 Restricted Stock Incentive Plan

Qingdao Teruid Electric Co., Ltd. (hereinafter referred to as "the Company" or "Teruid") and all members of the Board of Directors guarantee that the content of this information disclosure is true, accurate, and complete, without any false records, misleading statements, or major omissions.

Important Content Reminder:

1. Listing date of restricted stock: June 3, 2026
2. Number of individuals granted restricted stock: 32
3. Number of restricted shares granted: 7,785,340 shares
4. Grant price of restricted stock: 15.37 RMB/share
5. Source of restricted stock: Company repurchased A-share common stock from the secondary market

According to the "Management Measures for Equity Incentives of Listed Companies" issued by the China Securities Regulatory Commission (hereinafter referred to as "the Measures"), and relevant regulations of the Shenzhen Stock Exchange and the Shenzhen Branch of China Securities Depository and Clearing Corporation Limited, Qingdao Teruid Electric Co., Ltd. has completed the grant registration work for the 2026 Restricted Stock Incentive Plan (hereinafter referred to as "the Incentive Plan"). The relevant situation is announced as follows:

I. Relevant Approval Procedures for the Incentive Plan

1. On April 27, 2026, the Company held the tenth meeting of the sixth Board of Directors, which reviewed and approved the proposals regarding the "2026 Restricted Stock Incentive Plan (Draft) and its Summary," "Implementation Assessment Management Measures for the 2026 Restricted Stock Incentive Plan," and "Proposal to Authorize the Board of Directors to Handle Matters Related to the 2026 Restricted Stock Incentive Plan." The relevant proposals were approved by the Board's Compensation and Assessment Committee before being submitted for Board review.
2. From April 27 to May 7, 2026, the list of incentive objects for this Incentive Plan was publicly announced within the Company. During the announcement period, the Board's Compensation and Assessment Committee did not receive any objections regarding the incentive objects, and on May 7, 2026, disclosed the "Explanation and Verification Opinion on the Public Announcement of the List of Incentive Objects for the 2026 Restricted Stock Incentive Plan."
3. On May 11, 2026, the Company held the annual shareholders' meeting for 2025, which reviewed and approved the proposals regarding the "2026 Restricted Stock Incentive Plan (Draft) and its Summary," "Implementation Assessment Management Measures for the 2026 Incentive Plan," and "Proposal to Authorize the Board of Directors to Handle Matters Related to the 2026 Restricted Stock Incentive Plan," and disclosed the "Self-Examination Report on Insider Information and Trading of Company Shares by Incentive Objects."
4. On May 11, 2026, the Company held the eleventh meeting of the sixth Board of Directors, which reviewed and approved the proposal to grant restricted stock to the incentive objects of the 2026 Restricted Stock Incentive Plan, agreeing to grant 7,785,340 shares of restricted stock to 32 eligible incentive objects at a price of 15.57 RMB/share, with May 11, 2026, as the grant date. The Board's Compensation and Assessment Committee verified the relevant matters of this grant and issued a verification opinion.
5. On May 27, 2026, the Company held the twelfth meeting of the sixth Board of Directors, which reviewed and approved the proposal to adjust the grant price of the 2026 Restricted Stock Incentive Plan, agreeing to adjust the grant price from 15.57 RMB/share to 15.37 RMB/share according to the relevant provisions of the 2026 Restricted Stock Incentive Plan. The Board's Compensation and Assessment Committee verified the relevant matters and issued a verification opinion.

II. Description of the Grant of Restricted Stock

1. Incentive tool: First category of restricted stock
2. Source of stock: Company repurchased A-share common stock from the secondary market
3. Grant date: May 11, 2026
4. Grant price: 15.37 RMB/share
5. Number of grantees: 32
6. Number of shares granted: 7,785,340 shares
7. The distribution of the granted restricted stock among the incentive objects is as follows: