Legal Opinion
I. Approval and Authorization for Price Adjustment, Cancellation, and Vesting
(1) On September 29, 2025, the company's Fifth Board of Directors held its 14th meeting and approved the proposal regarding the "Draft and Summary of the 2025 Restricted Stock Incentive Plan," the "Proposal on the Implementation and Assessment Management Measures for the 2025 Restricted Stock Incentive Plan," and other related proposals. The Board's Remuneration and Assessment Committee also approved relevant proposals.
(2) On September 29, 2025, the company's Fifth Supervisory Board held its 12th meeting and approved the proposal regarding the "Draft and Summary of the 2025 Restricted Stock Incentive Plan," the "Proposal on the Implementation and Assessment Management Measures for the 2025 Restricted Stock Incentive Plan," and the "Proposal on Verifying the List of Incentive Grantees for Wuxi Lead Intelligent Equipment Co., Ltd.'s 2025 Restricted Stock Incentive Plan," and other proposals related to the equity incentive plan.
(3) From September 30, 2025, to October 9, 2025, the company publicly disclosed the list of grantees for this grant within the company. On October 11, 2025, the Supervisory Board issued the "Supervisory Board's Verification Opinion and Public Disclosure Status Report on the List of Grantees for Wuxi Lead Intelligent Equipment Co., Ltd.'s 2025 Restricted Stock Incentive Plan."
(4) On October 16, 2025, the company held its Second Extraordinary General Meeting of Shareholders in 2025, which approved the "Draft and Summary of the 2025 Restricted Stock Incentive Plan," the "Proposal on the Implementation and Assessment Management Measures for the 2025 Restricted Stock Incentive Plan," and the "Proposal to Authorize the Board of Directors to Handle Equity Incentive Matters."
(5) On October 16, 2025, the company's Fifth Board of Directors held its 15th meeting and approved the "Proposal to Grant Restricted Shares to Incentive Grantees," granting restricted shares to the relevant incentive grantees. The Board's Remuneration and Assessment Committee also approved relevant proposals.
(6) On October 16, 2025, the company's Fifth Supervisory Board held its 13th meeting and approved the "Proposal to Grant Restricted Shares to Incentive Grantees," and issued a verification opinion on the list of incentive grantees.
(7) On July 17, 2026, the company's Fifth Board of Directors held its 21st meeting and approved the "Proposal to Adjust the Grant Price of the 2025 Restricted Stock Incentive Plan," the "Proposal on the Fulfillment of Vesting Conditions for the First Vesting Period of the 2025 Restricted Stock Incentive Plan," and the "Proposal to Cancel Part of the Granted Unvested Restricted Shares." The Board's Remuneration and Assessment Committee verified the list of incentive grantees for this vesting.
In summary, the lawyers believe that as of the date of this legal opinion, the company's price adjustment, cancellation, and vesting matters have obtained the necessary approvals and authorizations at this stage and comply with the relevant provisions of the "Management Measures," "GEM Listing Rules," and the "Draft Incentive Plan."
II. Matters Related to Price Adjustment
(1) On May 21, 2025, the company held its 2025 Annual Shareholders' Meeting and approved the "Proposal on the 2025 Profit Distribution Plan." This A-share equity distribution will be based on the company's total share capital of 1,566,163,034 shares, excluding the 11,152,297 shares repurchased in the dedicated securities account, totaling 1,555,010,737 shares. A cash dividend of RMB 2.87 per 10 shares (tax inclusive) will be distributed to all shareholders, totaling RMB 446,288,081.519 (tax inclusive). On June 23, 2026, the company announced the "Announcement on the Implementation of the 2025 A-Share Equity Distribution of Wuxi Lead Intelligent Equipment Co., Ltd.," confirming that the ex-rights and ex-dividend date is June 29, 2026, and the ex-dividend date is June 30, 2026.