Stock Abbreviation: Mingyang Electrical
Stock Code: 301291
Guangdong Mingyang Electrical Co., Ltd.
2026 Stock Option Incentive Plan
(Draft)
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 truthfulness, 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, and other relevant laws, regulations, and normative documents, as well as 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 stock is the Company's targeted issuance of A-share common stock to the incentive targets.
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The Company 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 this Incentive Plan. Provided that the exercise conditions are met, each stock option granted to the incentive targets confers the right to purchase 1 share of the Company's stock at the exercise price within 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 of the Company's effective equity incentive plans shall not exceed 20% of the Company's total share capital. The cumulative number of the Company's 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 this Incentive Plan draft. From the date of the announcement of this Incentive Plan until the completion of the exercise of stock options by the incentive targets, if the Company undergoes capital reserve conversion, stock dividend distribution, share subdivision or consolidation, or rights issues, the number of stock options and the total number of underlying shares involved will 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 until the completion of the exercise of stock options by the incentive targets, if the Company undergoes capital reserve conversion, stock dividend distribution, share subdivision or consolidation, rights issues, or dividend payments, the exercise price and/or the number of stock options will be adjusted accordingly.
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The total number of incentive targets granted under this Incentive Plan is 288, including core backbone personnel of the Company (including branches and holding subsidiaries, the same below) 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 stock options and end on the date when all stock options granted to the incentive targets are exercised or cancelled, with a maximum period not exceeding 48 months.
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The Company does not fall under any of the 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 adverse opinion or a disclaimer of opinion by a certified public accountant;
(2) The internal control of the financial report for the most recent fiscal year has been issued with an adverse opinion or a disclaimer of opinion by a certified public accountant;
(3) Failure to distribute profits in accordance with laws, regulations, the Articles of Association, or public commitments within the last 36 months after listing;
(4) Other circumstances where equity incentives are prohibited by laws and regulations;
(5) Other circumstances recognized by the China Securities Regulatory Commission (CSRC).