Stock Code: 300508
Stock Abbreviation: Weihong Shares
Announcement No.: 2026-051
Shanghai Weihong Electronic Technology Co., Ltd.
Announcement on the Cancellation of Unvested Restricted Shares Granted Under the 2024 Restricted Share Incentive Plan
The Company and the Board of Directors guarantee that the information disclosed is true, accurate, and complete, and contains no false representations, misleading statements, or material omissions.
Shanghai Weihong Electronic Technology Co., Ltd. (hereinafter referred to as the "Company") held the 27th (Extraordinary) Meeting of the Fifth Board of Directors on August 10, 2026, and reviewed and approved the "Proposal on Cancelling Part of the Granted but Unvested Restricted Shares Under the 2024 Restricted Share Incentive Plan." Due to the resignation of some incentive recipients, in accordance with the "Shanghai Weihong Electronic Technology Co., Ltd. 2024 Restricted Share Incentive Plan (Draft)" (hereinafter referred to as the "Incentive Plan" or "this Incentive Plan") and the "Administrative Measures for Equity Incentives of Listed Companies" (hereinafter referred to as the "Administrative Measures"), the Board of Directors agreed to cancel part of the granted but unvested restricted shares under this Incentive Plan. The relevant matters are hereby explained as follows:
I. Relevant Approval Procedures for this Incentive Plan
(1) On June 24, 2024, the Company held the 4th (Extraordinary) Meeting of the Fifth Board of Directors, which reviewed and approved the "Proposal on the 'Shanghai Weihong Electronic Technology Co., Ltd. 2024 Restricted Share Incentive Plan (Draft)' and its Summary," the "Proposal on the 'Shanghai Weihong Electronic Technology Co., Ltd. 2024 Restricted Share Incentive Plan Performance Assessment and Management Measures'," and the "Proposal on Authorizing the Board of Directors to Handle Matters Related to the Company's Restricted Share Incentive Plan by the Shareholders' Meeting."
On the same day, the Company held the 3rd (Extraordinary) Meeting of the Fifth Supervisory Board, which reviewed and approved the "Proposal on the 'Shanghai Weihong Electronic Technology Co., Ltd. 2024 Restricted Share Incentive Plan (Draft)' and its Summary" and the "Proposal on the 'Shanghai Weihong Electronic Technology Co., Ltd. 2024 Restricted Share Incentive Plan Performance Assessment and Management Measures'."
(2) From June 25, 2024, to July 4, 2024, the Company publicly disclosed the list of names and positions of the initial grant recipients of this Incentive Plan internally. During the disclosure period, the Company's Supervisory Board received inquiries from an employee regarding one incentive recipient. The Company's Supervisory Board entrusted the Human Resources Department and the employee's department to explain the matter to the individual. The Supervisory Board formally replied via email, and the individual raised no further inquiries. Other than this, the Supervisory Board of the Company did not receive any objections from any individual or organization regarding the list of initial grant recipients for the Company's 2024 Restricted Share Incentive Plan. On July 5, 2024, the Comp