Announcement on the Initial Grant of Restricted Shares and Stock Options to Participants of the 2026 Restricted Share and Stock Option Incentive Plan

Stock Code: 300745 Stock Abbreviation: Sinexcel Announcement No.: 2026-037

Shenzhen Sinexcel Electric Co., Ltd.

Announcement on the Initial Grant of Restricted Shares and Stock Options to Participants of the 2026 Restricted Share and Stock Option Incentive Plan

Special Notice:

• Initial grant date for Type II restricted shares/stock options: July 6, 2026

• Initial grant quantity of Type II restricted shares: 3.9 million shares

• Initial grant quantity of stock options: 3.9 million units

• Initial grant price of Type II restricted shares: 23.87 yuan/share

• Initial grant price of stock options: 29.84 yuan/unit

Shenzhen Sinexcel Electric Co., Ltd. (hereinafter referred to as the "Company") has met the grant conditions stipulated in the "2026 Restricted Share and Stock Option Incentive Plan (Draft)". Pursuant to the authorization granted by the 2025 Annual General Meeting, the Company held the 11th meeting of the 4th Board of Directors on July 6, 2026, to approve the "Proposal on the Initial Grant of Restricted Shares and Stock Options to Incentive Participants". The Company designated July 6, 2026, as the initial grant date for Type II restricted shares and the initial authorization date for stock options. A total of 3.9 million restricted shares were granted to 192 eligible participants at a price of 23.87 yuan/share, and 3.9 million stock options were granted to 192 eligible participants at a price of 29.84 yuan/unit. Relevant details are as follows:

1. Brief Overview of the Incentive Plan

On May 19, 2026, the Company held the 2025 Annual General Meeting, which reviewed and approved the "Incentive Plan" and its summary. Key contents are as follows:

(1) Incentive Instruments and Source of Shares

The incentive instruments used in this plan are Type II restricted shares and stock options. The underlying shares are sourced from the Company's定向 issuance of A-share common stock to participants and/or the Company's repurchase of A-share common stock from the secondary market.

(2) Grant Quantity: The total number of equity interests (Type II restricted shares and stock options) to be granted under this plan shall not exceed 8.3 million shares, representing approximately 4.92% of the Company's total share capital of 168.56652 million shares at the time of the announcement of the draft plan. The initial grant consists of 7.8 million shares, accounting for 93.98% of the total grant, or 4.63% of the total share capital. The reserved portion consists of 0.5 million shares, accounting for 6.02% of the total grant, or 0.30% of the total share capital.

(3) Participants: The number of participants for the initial grant shall not exceed 200 people, including directors, senior management, middle management, core technical (business) personnel, and other outstanding talents deemed necessary by the Board of Directors who are employed by the Company (including subsidiaries and branches). The participants do not include: 1) Independent directors; 2) Shareholders or actual controllers who individually or collectively hold more than 5% of the shares, or their spouses, parents, or children.

1. The number of participants for the initial grant of Type II restricted shares shall not exceed 200 people. Details are as follows: