Stock Code: 301228 Stock Abbreviation: Pupu Test
Pupu Test Technology (Shanghai) Co., Ltd.
2026 Employee Stock Ownership Plan
(Draft)
June 2026
Statement
The Company and all directors guarantee that this Employee Stock Ownership Plan and its summary do not contain any false records, misleading statements, or major omissions, and assume legal responsibility for the authenticity, accuracy, and completeness of its contents.
Special Tips
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This Employee Stock Ownership Plan draft is prepared in accordance with the Company Law of the People's Republic of China, the Securities Law of the People's Republic of China, the Guiding Opinions on the Implementation of Employee Stock Ownership Plans by Listed Companies, the Shenzhen Stock Exchange Self-Regulatory Guidelines for Listed Companies No. 2 — Standardized Operation of Companies Listed on the ChiNext Market, and other relevant laws, administrative regulations, rules, normative documents, and the Articles of Association.
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This Employee Stock Ownership Plan follows the principles of legality, compliance, voluntary participation, and risk-bearing, and there is no situation of apportioning or forced allocation of employees to participate in this plan.
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The scope of participants for this Employee Stock Ownership Plan includes directors (excluding independent directors), senior management, and key technical and business personnel who play an important role in and have an impact on the overall performance and long-term development of the Company (including branches and holding subsidiaries, the same below). The total number of company employees participating in the initial establishment of this plan shall not exceed 30, including 3 directors (excluding independent directors) and senior management. The specific number of participants will be determined based on actual employee payments.
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The total funds to be raised for this Employee Stock Ownership Plan shall not exceed 74 million RMB, with "shares" as the subscription unit, at 1 RMB per share. The upper limit of the plan is 74 million shares, and the final total raised funds will be subject to the actual amount raised. The funds for this plan are derived from the legal remuneration of the holders, self-raised funds, and other methods permitted by laws and administrative regulations. The Company does not provide any form of financial assistance or loan guarantees for employees.
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The source of shares for this Employee Stock Ownership Plan is A-share common stocks repurchased from the Company's special repurchase account, totaling no more than 1.838955 million shares, accounting for 1.53% of the Company's current total share capital of 120 million shares. After this plan is approved by the Company's general meeting of shareholders, the Company's shares held in the special securities account for share repurchases will be obtained through non-transactional transfers or other methods permitted by laws and regulations.
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After the implementation of this Employee Stock Ownership Plan, the total number of shares held by all effective employee stock ownership plans of the Company shall not exceed 10% of the total share capital of the Company, and the total number of shares corresponding to the shares held by a single employee in the plan shall not exceed 1% of the total share capital of the Company. The total number of shares held by the employee stock ownership plan does not include shares obtained by employees before the Company's initial public offering, shares purchased independently in the secondary market, and shares obtained through equity incentives.
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The transfer price of the Company's repurchased shares for this Employee Stock Ownership Plan is 40 RMB/share. The purchase price shall not be lower than the par value of the Company's shares, and shall not be lower than the higher of the following prices:
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50% of the average trading price of the Company's shares on the 1 trading day prior to the announcement of the Employee Stock Ownership Plan draft (total trading amount of the previous 1 trading day / total trading volume of the previous 1 trading day), which is 39.73 RMB per share;