Announcement on the Progress of Share Repurchase
Kunshan Baiao Intelligent Equipment Co., Ltd. (hereinafter referred to as "the Company") held the eighth meeting of the fourth board of directors on March 24, 2026, where it reviewed and approved the proposal on the share repurchase plan. The Company agreed to use its own funds or raised funds to repurchase a portion of its ordinary shares (A-shares) through centralized bidding (hereinafter referred to as "this repurchase") and to use the repurchased shares for employee stock ownership plans or equity incentives at an appropriate time in the future. The repurchase price will not exceed RMB 65.00 per share, with a total repurchase amount not less than RMB 10 million and not exceeding RMB 20 million (inclusive). Based on the upper limit of the repurchase price and the upper and lower limits of the repurchase amount, the estimated number of shares to be repurchased is between 153,846 shares and 307,692 shares, accounting for 0.17% to 0.33% of the Company's current total share capital. The specific number of repurchased shares will be based on the actual number of shares repurchased upon the expiration of the repurchase period or completion of the repurchase. The implementation period for the repurchased shares used for employee stock ownership plans or equity incentives is within 12 months from