The Board of Directors and all members of the Board of Directors guarantee the truthfulness, accuracy, and completeness of the information disclosed, and are free from false records, misleading statements, or major omissions.
Jiangxi Huawu Brake Co., Ltd. (hereinafter referred to as the "Company") held the 18th meeting of its 6th Board of Directors on July 27, 2026, via written voting in the company's conference room. This meeting was an extraordinary board meeting. The meeting notice was sent to all directors in writing, by email, and by telephone on July 21, 2026.
A total of 9 directors were eligible to attend, and 9 directors actually attended. The meeting was presided over by Mr. Nie Jinghua, Chairman of the Company. The convening of the meeting complies with the provisions of the "Company Law" and the "Articles of Association".
After careful discussion, all directors deliberated and approved the following matters:
I. Deliberation and Approval of the "Proposal on the Plan for Repurchasing Company Shares"
The Company intends to use its own funds and/or self-raised funds (including special repurchase loans) to repurchase the Company's shares (hereinafter referred to as "this repurchase") through centralized bidding or other methods permitted by laws and regulations. The repurchased shares will be used for employee stock ownership plans or equity incentive plans. The shares to be repurchased are the A-share ordinary shares issued by the Company to the public. The total amount of this repurchase shall not be less than RMB 80 million (inclusive) and not more than RMB 150 million (inclusive), and the repurchase price shall not exceed RMB 12.00 per share (inclusive). The duration of the repurchase shall not exceed 12 months from the date on which the Board of Directors approves this repurchase plan. The specific details of this repurchase are as follows:
(I) Purpose of Repurchasing Shares
Based on confidence in the Company's future development prospects and high recognition of the Company's value, in order to maintain the Company's healthy and stable long-term development and protect the interests of all investors, especially small and medium investors, enhance investor confidence, and further improve the long-term incentive and restraint mechanism, the Company plans to repurchase a portion of the Company's A-share shares through centralized bidding transactions for the implementation of equity incentive plans or employee stock ownership plans.
Voting results: 9 votes in favor, 0 votes against, 0 abstentions.
(II) This Share Repurchase Complies with Relevant Conditions
This share repurchase by the Company complies with the relevant conditions stipulated in Article 8 of the "Regulations on Repurchasing Shares of Listed Companies" and Article 10 of the "Self-Regulatory Guidelines for Listed Companies of Shenzhen Stock Exchange No. 9 - Share Repurchases":
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The Company's stock has been listed for more than six months;
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The Company has not committed any major illegal acts in the past year;
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After the share repurchase, the Company has the ability to perform its debt obligations and maintain its ongoing operations;
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After the share repurchase, the Company's equity distribution meets the listing conditions;
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Other conditions stipulated by the China Securities Regulatory Commission and the Shenzhen Stock Exchange.
(III) Type, Method, and Purpose of Repurchased Shares
The type of shares to be repurchased by the Company is the RMB ordinary shares (A shares) issued and listed by the Company. The repurchase method will be centralized bidding or other methods permitted by laws and regulations.