Securities Code: 300827 Securities Abbreviation: Shangneng Electric Announcement No.: 2026-040
Shangneng Electric Power Co., Ltd. Announcement of Resolutions of the 24th Meeting of the Fourth Board of Directors
The Company and all members of the Board of Directors guarantee the truthfulness, accuracy, and completeness of the information disclosed, and are free from false representations, misleading statements, or material omissions.
I. Convening of the Board Meeting
The 24th Meeting of the Fourth Board of Directors of Shangneng Electric Power Co., Ltd. (hereinafter referred to as the "Company") was held via communication on June 9, 2026. With the unanimous consent of all directors, the notice period for this board meeting was waived. The meeting notice was sent to all directors via email, WeChat, and other methods on June 8, 2026. Nine directors were eligible to attend, and nine directors were actually present. Senior management of the Company attended the meeting. The meeting was presided over by Mr. Wu Qiang, Chairman of the Company. The convening of this meeting complies with relevant laws, regulations, and the Articles of Association.
II. Deliberation of Board Meeting Matters
(I) Approval of the "Proposal on the <Shangneng Electric Power Co., Ltd. 2026 Restricted Stock Incentive Plan (Draft)> and its Summary"
To further improve the Company's long-term incentive and restraint mechanism, attract and retain outstanding talents, fully mobilize the enthusiasm of the Company's core management and key personnel, and effectively align the interests of shareholders, the Company, and the core team, so that all parties jointly focus on the Company's long-term development, ensure the realization of the Company's development strategy and business objectives, and under the premise of fully protecting shareholder interests, in accordance with the principle of equal reward for contribution, and based on 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 Management Guide No. 1 - Business Handling," and other relevant laws, regulations, and normative documents, as well as the "Articles of Association," the Company has formulated the "Shangneng Electric Power Co., Ltd. 2026 Restricted Stock Incentive Plan (Draft)" and its summary, and intends to implement a restricted stock incentive plan for the incentive recipients.
For specific details, please refer to the "Shangneng Electric Power Co., Ltd. 2026 Restricted Stock Incentive Plan (Draft)" and its summary disclosed on the same day on the Juchao Information Network.
This proposal has been reviewed and approved by the Board's Remuneration and Assessment Committee. Voting results: 7 votes in favor; 0 votes against; 0 abstentions. Directors Chen Yunping and Hu Guangwang, who are related parties, abstained from voting. This proposal still needs to be submitted to the Company's shareholders' meeting for deliberation and requires the approval of more than 2/3 of the voting rights of shareholders present at the meeting.
(II) Approval of the "Proposal on the <Shangneng Electric Power Co., Ltd. 2026 Restricted Stock Incentive Plan Implementation and Assessment Management Measures> (Draft)"