Guangdong Mingyang Electrical Co., Ltd.
2026 Stock Option Incentive Plan
(Draft) Summary
July 2026
Statement
The Company and all directors guarantee that the contents of this announcement 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 Notice
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The 2026 Stock Option Incentive Plan (hereinafter referred to as the "Incentive Plan") of Guangdong Mingyang Electrical Co., Ltd. (hereinafter referred to as the "Company") is formulated 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 on Equity Incentives of Listed Companies, other relevant laws, regulations, and normative documents, and the Articles of Association of Guangdong Mingyang Electrical Co., Ltd.
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The incentive tool adopted in this Incentive Plan is stock options. The source of the shares is the Company's定向 issuance of A-share common stock to the incentive targets.
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The Incentive Plan intends to grant 10.46 million stock options to the incentive targets, accounting for 3.33% of the Company's total share capital of 314,540,278 shares at the time of the announcement of the Incentive Plan. Subject to the fulfillment of exercise conditions, each stock option granted to the incentive targets confers the right to purchase 1 share of the Company's stock at the exercise price during the exercise period. This grant is a one-time grant and does not include reserved interests.
After the implementation of this Incentive Plan, the total number of underlying shares involved in all effective equity incentive plans of the Company shall not exceed 20% of the Company's total share capital. The cumulative number of company shares granted to any single incentive target through all effective equity incentive plans shall not exceed 1% of the Company's total share capital at the time of the announcement of the Incentive Plan draft. From the date of the announcement of this Incentive Plan to the completion of the exercise of stock options by the incentive targets, if the Company undergoes capital reserve capitalization, issuance of stock dividends, share splits or consolidations, or rights issues, the number of stock options and the total number of underlying shares involved shall be adjusted accordingly.
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The exercise price of the stock options granted under this Incentive Plan is 40.27 yuan per share. From the date of the announcement of this Incentive Plan to the completion of the exercise of stock options by the incentive targets, if the Company undergoes capital reserve capitalization, issuance of stock dividends, share splits or consolidations, rights issues, or dividend distributions, the exercise price and/or the number of stock options shall be adjusted accordingly.
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The total number of incentive targets granted under this Incentive Plan is 288, including core personnel of the Company (including branches and holding subsidiaries, the same below) serving at the time of the announcement of this Incentive Plan.
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The validity period of this Incentive Plan shall commence from the date of the grant of the stock options and end on the date when all stock options granted to the incentive targets are exercised or cancelled, with a maximum duration of no more than 48 months.
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The Company does not fall under any of the following circumstances stipulated in Article 7 of the Administrative Measures on Equity Incentives of Listed Companies that prohibit the implementation of equity incentives:
(1) The financial accounting report for the most recent fiscal year has been issued with an audit report containing an adverse opinion or a disclaimer of opinion by a certified public accountant;