Zhejiang KaiChuang Electric Co., Ltd. Announcement on the Listing and Circulation of Part of the Shares Issued Before the Initial Public Offering
The Company and all members of the Board of Directors guarantee that the content of this information disclosure is true, accurate, and complete, and that there are no false records, misleading statements, or major omissions.
Special Reminder:
- The shares to be released from lock-up in this instance are part of the shares issued before the initial public offering of Zhejiang KaiChuang Electric Co., Ltd. (hereinafter referred to as "KaiChuang Electric" or "the Company"). The number of shareholders whose shares are being released from lock-up is 4, with a total of 56,160,000 shares being unlocked, accounting for 53.6902% of the Company's total share capital.
- The listing and circulation time for the shares to be released from lock-up in this instance is June 30, 2026 (Tuesday).
I. Overview of Shares Issued Before the Initial Public Offering (I) Situation of Shares Issued Before the Initial Public Offering As approved by the China Securities Regulatory Commission's "Approval on the Registration of the Initial Public Offering of Shares of Zhejiang KaiChuang Electric Co., Ltd." (Document No. [2023] 1064), the Company issued 20,000,000 ordinary shares of RMB ordinary shares (A shares) to the public for the first time, with a par value of RMB 1.00 per share. These shares were listed on the ChiNext market of the Shenzhen Stock Exchange on June 19, 2023. Before the initial public offering, the Company's total share capital was 60,000,000 shares. After the completion of the initial public offering, the Company's total share capital became 80,000,000 shares. Among these, the number of shares with unrestricted circulation was 20,000,000, accounting for 25.0000% of the total share capital after issuance; the number of shares with restricted circulation was 60,000,000, accounting for 75.0000% of the total share capital after issuance.
(II) Changes in Share Capital After Listing On May 21, 2024, the Company implemented its 2023 profit distribution plan. Based on a total share capital of 80,000,000 shares as of December 31, 2023, a cash dividend of RMB 2.50 per 10 shares (tax inclusive) was distributed to all shareholders, totaling RMB 20,000,000.00 (tax inclusive). Additionally, 3 bonus shares were issued for every 10 shares held, with no additional shares issued. The total number of bonus shares issued was 24,000,000. After the bonus issue, the Company's total share capital increased to 104,000,000 shares. Among these, the number of shares with restricted circulation was 78,000,000, accounting for 75.0000% of the total share capital after the bonus issue; the number of shares with unrestricted circulation was 26,000,000, accounting for 25.0000% of the total share capital after the bonus issue.
On June 19, 2024, a portion of the restricted shares issued before the initial public offering began to circulate, totaling 21,840,000 shares, which accounted for 21.0000% of the total share capital at the time of listing. For details, please refer to the "Announcement on the Listing and Circulation of Part of the Shares Issued Before the Initial Public Offering" (Announcement No.: 2024-041) disclosed by the Company on the ChiNext information disclosure website designated by the China Securities Regulatory Commission on June 14, 2024.
On October 27, 2025, 600,000 shares from the first vesting period of the 2024 restricted stock incentive plan were listed and circulated. The Company's total share capital increased from 104,000,000 shares to 104,600,000 shares. For details, please refer to the "Announcement on the Vesting and Listing of Shares from the First Vesting Period of the 2024 Restricted Stock Incentive Plan" (Announcement No.: 2025-059) disclosed by the Company on the ChiNext information disclosure website designated by the China Securities Regulatory Commission on October 23, 2025.