Fangzheng Electric announced that Shanghai Haineng, a wholly-owned subsidiary of the company, plans to implement equity incentives. A total of 22 people will be eligible to hold shares indirectly through the establishment of a limited partnership. The company plans to transfer no more than 20% of Shanghai Haineng's shares to the employee shareholding platform, corresponding to the registered capital of 5.6 million yuan, of which the share sales ratio is 10%, the share options ratio is 10%, and the options are exercised in three installments, corresponding to the performance conditions of 2026-2028 deducted non-net profit increasing by 10%, 25%, and 40%, respectively, compared to 2025. This share sale and exercise corresponds to Shanghai Haineng's overall valuation of 163 million yuan. The incentive target capital was raised by individuals, and the equity/options obtained were locked in for 5 years. This matter did not constitute a major asset restructuring or related transaction. After implementation, Shanghai Haineng was still a holding subsidiary of the company, and the scope of the consolidated statement remained unchanged.

Fangzheng Electric announced that Shanghai Haineng, a wholly-owned subsidiary of the company, plans to implement equity incentives. A total of 22 people will be eligible to hold shares indirectly through the establishment of a limited partnership. The company plans to transfer no more than 20% of Shanghai Haineng's shares to the employee shareholding platform, corresponding to the registered capital of 5.6 million yuan, of which the share sales ratio is 10%, the share options ratio is 10%, and the options are exercised in three installments, corresponding to the performance conditions of 2026-2028 deducted non-net profit increasing by 10%, 25%, and 40%, respectively, compared to 2025. This share sale and exercise corresponds to Shanghai Haineng's overall valuation of 163 million yuan. The incentive target capital was raised by individuals, and the equity/options obtained were locked in for 5 years. This matter did not constitute a major asset restructuring or related transaction. After implementation, Shanghai Haineng was still a holding subsidiary of the company, and the scope of the consolidated statement remained unchanged.