[Chart: Coltech Power Logo]
Shanghai Coltech Power Co., Ltd.
2026 Restricted Stock Incentive Plan (Draft) Summary
August 2026
Statement
The Company and all members of the Board of Directors guarantee that the contents of this incentive plan and its summary are true, accurate, and complete, with no false records, misleading statements, or major omissions.
Special Notice
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The "Shanghai Coltech Power Co., Ltd. 2026 Restricted Stock Incentive Plan (Draft)" was formulated by Shanghai Coltech Power Co., Ltd. (hereinafter referred to as "Coltech Power," "the Company," or "this Company") in accordance with the Company Law of the People's Republic of China, the Securities Law of the People's Republic of China, the Administrative Measures for Equity Incentives of Listed Companies, the Rules Governing the Listing of Stocks on the ChiNext Market of the Shenzhen Stock Exchange, the Guidelines No. 1 for Self-Regulation of Listed Companies on the ChiNext Market—Business Handling, and other relevant laws, administrative regulations, normative documents, and the Articles of Association.
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The incentive form adopted by the Coltech Power 2026 Restricted Stock Incentive Plan (hereinafter referred to as "this Incentive Plan") is Type II restricted stock. The source of the shares is the Company's RMB A-share common stock issued directly to the incentive targets.
Incentive targets who meet the grant conditions will receive the Company's A-share common stock at the grant price during the vesting period after satisfying the corresponding vesting conditions and arrangements. These shares will be registered with the Shenzhen Branch of China Securities Depository and Clearing Corporation Limited. Before the restricted shares granted to the incentive targets vest, the incentive targets do not enjoy shareholder rights, and the aforementioned restricted shares may not be transferred, used for guarantees, or used to repay debts.
- The number of restricted shares intended to be granted under this Incentive Plan is 3.20 million shares, accounting for approximately 1.00% of the Company's total share capital of 320.00 million shares as of the announcement date of this Incentive Plan draft. Of this, 2.80 million shares will be granted for the first time, accounting for approximately 0.88% of the total share capital and 87.50% of the total equity to be granted; 0.40 million shares are reserved, accounting for approximately 0.13% of the total share capital and 12.50% of the total equity to be granted.
As of the announcement date of this Incentive Plan draft, the total number of underlying shares involved in all of the Company's equity incentive plans within their validity period does not exceed 20% of the Company's total share capital. The total number of company shares granted to any single incentive target through all equity incentive plans within their validity period does not exceed 1% of the Company's total share capital.
- There are 112 incentive targets for the initial grant under this Incentive Plan, including directors, senior management, and other core employees serving in the Company (including subsidiaries) at the time of the announcement of this Incentive Plan. It does not include independent directors of Coltech Power, shareholders or actual controllers who individually or collectively hold more than 5% of the shares, or their spouses, parents, or children.
Reserved incentive targets refer to those not yet determined when this Incentive Plan is approved by the shareholders' meeting but who are included in the incentive plan during its duration. They shall be determined within 12 months after this Incentive Plan is reviewed and approved by the shareholders' meeting. The criteria for determining reserved incentive targets shall refer to the standards for the initial grant.
- The grant price for the restricted shares initially granted under this Incentive Plan is 11.27 yuan/share. During the period from the announcement of the draft of this Incentive Plan to the completion of the vesting registration of the restricted shares granted to the incentive targets, if the Company undergoes capital reserve conversion, stock dividends, stock splits, share consolidations, rights issues, or dividend distributions, the grant price and the number of equity interests of the restricted shares will be adjusted accordingly in accordance with this Incentive Plan.