Securities Code: 301031 Securities Abbreviation: Zhongrong Electric Announcement No.: 2026-010 Xi'an Zhongrong Electric Co., Ltd. Announcement on the Adjustment of the Grant Price of the 2022 Restricted Stock Incentive Plan
The Company and all members of the Board of Directors guarantee the content of the information disclosed is true, accurate, and complete, and that there are no false records, misleading statements, or material omissions.
Xi'an Zhongrong Electric Co., Ltd. (hereinafter referred to as "Zhongrong Electric" or the "Company") held its seventh meeting of the fourth Board of Directors on March 2, 2026. The meeting deliberated and approved the "Proposal on Adjusting the Grant Price of the 2022 Restricted Stock Incentive Plan." Due to the Company's 2025 interim equity distribution, in accordance with the relevant provisions of the "Xi'an Zhongrong Electric Co., Ltd. 2022 Restricted Stock Incentive Plan" (hereinafter referred to as the "Incentive Plan" or the "Plan") and the authorization from the Company's first extraordinary general meeting of shareholders in 2023, the Company's Board of Directors agreed to adjust the grant price of the restricted stocks for the initial grant and the reserved grant under this Incentive Plan from RMB 66.24 per share to RMB 66.17 per share. The relevant matters are hereby announced as follows:
I. Relevant Approval Procedures Completed for the Company's 2022 Restricted Stock Incentive Plan
(I) On December 19, 2022, the Company held the fifth meeting of the third Board of Directors, which deliberated and approved the "Proposal on the <Xi'an Zhongrong Electric Co., Ltd. 2022 Restricted Stock Incentive Plan (Draft)> and its Summary," the "Proposal on the <Xi'an Zhongrong Electric Co., Ltd. 2022 Restricted Stock Incentive Plan Performance Appraisal Management Measures>," the "Proposal on Requesting the Shareholders' Meeting of Xi'an Zhongrong Electric Co., Ltd. to Authorize the Board of Directors to Handle Matters Related to the 2022 Restricted Stock Incentive Plan," and the "Proposal on Convening the First Extraordinary General Meeting of Shareholders of Xi'an Zhongrong Electric Co., Ltd. in 2023." The independent directors of the Company issued independent opinions.
(II) On December 19, 2022, the Company held the fifth meeting of the third Supervisory Board, which deliberated and approved the "Proposal on the <Xi'an Zhongrong Electric Co., Ltd. 2022 Restricted Stock Incentive Plan (Draft)> and its Summary," the "Proposal on the <Xi'an Zhongrong Electric Co., Ltd. 2022 Restricted Stock Incentive Plan Performance Appraisal Management Measures>," and the "Proposal on Verifying the List of Incentive Recipients in the <Xi'an Zhongrong Electric Co., Ltd. 2022 Restricted Stock Incentive Plan (Draft)>."