Shanghai Weihong Electronic Technology Co., Ltd.
Announcement on Adjusting the Grant Price of the 2024 Restricted Stock Incentive Plan
The company and all members of the board of directors guarantee that the information disclosed is true, accurate, and complete, and that there are no false records, misleading statements, or major 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 deliberated and passed the "Proposal on Adjusting the Grant Price of the 2024 Restricted Stock Incentive Plan." In view of the completion of the company's 2025 annual equity distribution plan, in accordance with the "Shanghai Weihong Electronic Technology Co., Ltd. 2024 Restricted Stock 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") and other relevant regulations, the board of directors agreed to adjust the grant price of the restricted stocks under this Incentive Plan. The relevant matters are hereby explained as follows:
I. Relevant Approval Procedures for this Incentive Plan
(I) On June 24, 2024, the company held the 4th (Extraordinary) Meeting of the Fifth Board of Directors and deliberated and passed the "Proposal on the 2024 Restricted Stock Incentive Plan (Draft) and its Summary," the "Proposal on the Management Measures for the Implementation and Assessment of the 2024 Restricted Stock Incentive Plan of Shanghai Weihong Electronic Technology Co., Ltd.," and the "Proposal on Authorizing the Board of Directors to Handle Matters Related to the Company's Restricted Stock Incentive Plan by the General Meeting of Shareholders."
On the same day, the company held the 3rd (Extraordinary) Meeting of the Fifth Supervisory Board and deliberated and passed the "Proposal on the 2024 Restricted Stock Incentive Plan (Draft) and its Summary" and the "Proposal on the Management Measures for the Implementation and Assessment of the 2024 Restricted Stock Incentive Plan of Shanghai Weihong Electronic Technology Co., Ltd."
(II) From June 25, 2024, to July 4, 2024, the company publicly disclosed the list and positions of the initial grantees of this Incentive Plan within the company. During the publicity period, the company's supervisory board received inquiries from employees regarding one grantee. The company's supervisory board entrusted the human resources department and their respective departments to understand and explain the matter to the person concerned, and the supervisory board formally replied via email. The person concerned raised no further inquiries. In addition, the company's supervisory board did not receive any objections from any individual or organization regarding the initial grantees of this Incentive Plan.