[Chart: Zeyu Intelligence Logo]
Jiangsu Zeyu Intelligent Electric Co., Ltd.
2026 Restricted Stock Incentive Plan (Draft)
June 2026
Statement
The Company and all members of the Board of Directors guarantee that the contents of this incentive plan and its summary are true, accurate, and complete, and contain no false records, misleading statements, or major omissions.
Special Notice
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The "Jiangsu Zeyu Intelligent Electric Co., Ltd. 2026 Restricted Stock Incentive Plan (Draft)" was formulated by Jiangsu Zeyu Intelligent Electric Co., Ltd. (hereinafter referred to as "Zeyu Intelligence," "the Company," or "this Company") in accordance with the Company Law of the People's Republic of China, the Securities Law of the People's Republic of China, the Administrative Measures for Equity Incentives of Listed Companies, the Rules Governing the Listing of Stocks on the ChiNext Market of the Shenzhen Stock Exchange, the Guidelines for Self-Regulation of Listed Companies on the ChiNext Market No. 1—Business Handling, and other relevant laws, administrative regulations, normative documents, and the Articles of Association.
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The incentive form adopted by the Zeyu Intelligence 2026 Restricted Stock Incentive Plan (hereinafter referred to as "this Incentive Plan") is the second type of restricted stock. The source of the shares is the Company's RMB A-share common stock issued to the incentive targets.
Incentive targets who meet the grant conditions under this Incentive Plan will, upon satisfying the corresponding vesting conditions and arrangements, obtain the Company's A-share common stock at the grant price during the vesting period. Such shares will be registered with the Shenzhen Branch of China Securities Depository and Clearing Corporation Limited. Before the vesting of the granted restricted shares, incentive targets do not enjoy shareholder rights, and the aforementioned restricted shares may not be transferred, used for guarantees, or used to repay debts.
- The number of restricted shares proposed to be granted under this Incentive Plan is 9.09 million shares, accounting for approximately 2.25% of the Company's total share capital of 404.407569 million shares on the date of the announcement of this draft. Of this, 7.449 million shares are granted for the first time, accounting for approximately 1.84% of the total share capital and 81.95% of the total restricted shares proposed to be granted; 1.641 million shares are reserved, accounting for approximately 0.41% of the total share capital and 18.05% of the total restricted shares proposed to be granted.
The 2024 Restricted Stock Incentive Plan, approved by the Company's 2024 Third Extraordinary General Meeting, is currently being implemented. The underlying shares involved in the 2024 plan total 5.134704 million shares, and the underlying shares involved in this plan total 9.09 million shares. Therefore, the total underlying shares involved in all of the Company's effective incentive plans amount to 14.224704 million shares, accounting for approximately 3.52% of the total share capital of 404.407569 million shares.
As of the announcement date of this draft, the total number of underlying shares involved in all of the Company's effective equity incentive plans does not exceed 20% of the Company's total share capital.
- The total number of incentive targets for the first grant under this Incentive Plan is 191, including core management personnel and core technical (business) personnel serving in the Company (including holding subsidiaries) at the time of the announcement of this plan. It does not include independent directors of Zeyu Intelligence, shareholders or actual controllers who individually or collectively hold more than 5% of the Company's shares, or their spouses, parents, or children.
Reserved incentive targets refer to those not yet determined when this plan is approved by the General Meeting but who are included in the plan during its duration; they shall be determined within 12 months after the plan is approved.