Statement
The Company's Board of Directors and all directors guarantee that the incentive plan and its summary do not contain any false statements, misleading statements, or material omissions, and shall bear legal responsibility for the truthfulness, accuracy, and completeness of their contents according to law.
All incentive recipients of the Company promise: If the Company's information disclosure documents contain false statements, misleading statements, or material omissions, leading to non-compliance with the grant or vesting arrangements, the incentive recipients shall return all benefits obtained under this incentive plan to the Company after the relevant information disclosure documents are confirmed to contain false statements, misleading statements, or material omissions.
Special Notes
I. Suneng Electric Co., Ltd. (hereinafter referred to as "Suneng Electric", "the Company", or "this Company") has formulated the 2026 Restricted Stock Incentive Plan (hereinafter referred to as "this Incentive Plan" or "this Plan") in accordance with the "Company Law of the People's Republic of China", "Securities Law of the People's Republic of China", "Administrative Measures for Equity Incentives of Listed Companies", "Shenzhen Stock Exchange GEM Stock Listing Rules", "Shenzhen Stock Exchange GEM Listed Company Self-Regulatory Guidance No. 1 - Business Handling" (hereinafter referred to as "Regulatory Guidance"), and other relevant laws, administrative regulations, normative documents, and the "Articles of Association of Suneng Electric Co., Ltd." (hereinafter referred to as "Articles of Association").
II. The incentive instrument adopted by this Incentive Plan is restricted stock (Class II restricted stock). The source of the stock is repurchased from the secondary market and/or ordinary A shares issued by the Company to the incentive recipients.
Incentive recipients who meet the grant conditions of this Incentive Plan, after meeting the corresponding vesting conditions and vesting arrangements, shall obtain the increased ordinary A shares issued by the Company in installments at the grant price during the vesting period. These shares shall be registered with Shenzhen Branch of China Securities Depository and Clearing Corporation Limited. Before vesting, the restricted shares granted to incentive recipients shall not enjoy shareholder rights and shall not be transferred, used as collateral, or repaid as debt.
III. This Incentive Plan proposes to grant 13.3575 million restricted shares to incentive recipients (hereinafter referred to as "this Grant"), accounting for 2.40% of the Company's total share capital of 556.691579 million shares as of the announcement date of this Incentive Plan. Among them, the initial grant is 10.7575 million restricted shares, accounting for 1.93% of the Company's total share capital as of the announcement date of this Incentive Plan, and 80.54% of the total number of restricted shares granted in this Grant. The reserved grant is 2.60 million restricted shares, accounting for 0.47% of the Company's total share capital as of the announcement date of this Incentive Plan, and 19.46% of the total number of restricted shares granted in this Grant. The total number of underlying shares involved in all equity incentive plans of the Company that are in effect shall not exceed 20% of the Company's total share capital, and any single incentive recipient shall not be granted more than 1% of the Company's total share capital through all equity incentive plans that are in effect.
IV. The grant price of restricted shares granted to incentive recipients under this Incentive Plan (including reserved grants) is ¥19.63 per share. If the Company undergoes capital reserve to share capital conversion, stock dividends, share split, rights issue, share consolidation, or dividend distribution during the period from the announcement date of this Incentive Plan to the completion of vesting of restricted shares by the incentive recipients, the grant price and number of restricted shares shall be adjusted accordingly.