Core Viewpoint - The announcement details the upcoming public listing of stock options as part of the company's equity incentive plan, with a total of 8,539,418 shares set to be released for trading on September 15, 2025 [1][2]. Group 1: Stock Listing Details - The stock type being listed is equity incentive shares, with a total of 8,539,418 shares to be made available for trading [1]. - The shares will be listed on September 15, 2025, following a three-year lock-up period from the date of the stock option exercise [2][4]. - The total number of shares after the exercise of these options will increase the company's total share capital from 400,080,000 shares to 408,619,418 shares [2]. Group 2: Shareholder Information - The stock options are part of the 2020 stock option incentive plan, with 180 shareholders participating in this first exercise period [2]. - The shares being released represent 1.98% of the company's total share capital as of the announcement date [2]. - Shareholders who acquired these new shares through the option exercise are subject to a three-year lock-up period, during which they cannot sell their shares [3]. Group 3: Changes in Share Capital - Following the completion of the initial public offering, the company had a total share capital of 400,080,000 shares, with 369,540,709 shares under lock-up conditions [2]. - Subsequent exercises of stock options have led to incremental increases in the total share capital, with the latest exercise resulting in a total of 430,313,008 shares [3]. - The company has not experienced any changes in share capital due to profit distribution or capital reserve transfers since the formation of the listed shares [3]. Group 4: Commitments and Compliance - Shareholders involved in the stock option exercise have committed to not reducing their holdings for three years from the exercise date, adhering to the same reduction regulations as company directors and senior management after the lock-up period [3]. - As of the announcement date, all shareholders have complied with their commitments, ensuring no issues that would affect the listing of the restricted shares [3].

| 东吴证券股份有限公司 | | | | | | | --- | --- | --- | --- | --- | --- | | 关于山东亚华电子股份有限公司 | | | | | | | 保荐人名称：东吴证券股份有限公司 | | 被保荐公司简称：亚华电子 | | | | | 保荐代表人姓名：曹飞 | 联系电话：0512-62938583 | | | | | | 保荐代表人姓名：庞家兴 | 联系电话：0512-62938583 | | | | | | 一、保荐工作概述 | | | | | | | 项目 | 工作内容 | | | | | | （1）是否及时审阅公司信息披露文件 | | | 是 | | | | （2）未及时审阅公司信息披露文件的次数 | | | | 0次 | | | （1）是否督导公司建立健全规章制度（包括但不限 | | | | | | | 于防止关联方占用公司资源的制度、募集资金管理 | | | | | 是 | | 制度、内控制度、内部审计制度、关联交易制度） | | | | | | | （2）公司是否有效执行相关规章制度 | | | 是 | | | | （1）查询公司募集资金专户次数 | | 每 ...

Core Viewpoint - The announcement details the lifting of restrictions on 211,680,000 shares of Shengtong Energy, representing 75% of the company's total share capital, following the completion of the lock-up period for certain shareholders [1][21]. Group 1: Share Issuance and Capital Changes - The company had a total share capital of 90,000,000 shares before its initial public offering (IPO) and issued an additional 30,000,000 shares during the IPO, bringing the total to 120,000,000 shares [1]. - Following a capital reserve increase approved in 2023, the total share capital rose to 168,000,000 shares after a 10-for-4 bonus share distribution [2]. - In 2024, another capital reserve increase was approved, resulting in a total share capital of 201,600,000 shares after a 10-for-2 bonus share distribution [2]. - As of 2025, the total share capital increased to 282,240,000 shares after a 10-for-4 bonus share distribution [2]. Group 2: Shareholder Commitments - Major shareholders, including the controlling shareholders Wei Jisheng and Zhang Wei, committed to not transferring or managing their shares for 36 months post-IPO and to maintain a minimum selling price equal to the IPO price for two years after the lock-up period [3][4]. - Shareholders also agreed to extend the lock-up period by six months if the stock price falls below the IPO price for 20 consecutive trading days within the first six months post-IPO [3][4]. - The commitments include provisions for compliance with legal regulations and the return of any profits gained from violations of these commitments [4][5]. Group 3: Lifting of Share Restrictions - The lifting of restrictions applies to a total of 211,680,000 shares, with no pledges or freezes on these shares [21][22]. - The share structure post-lifting indicates that the restricted shares accounted for 75% of the total before the lifting, and after the lifting, the proportion of restricted shares decreased significantly [22][23]. - The company has ensured that all shareholders have adhered to their commitments, and there are no violations affecting the lifting of share restrictions [21][24]. Group 4: Compliance and Verification - The underwriting institution has verified that the lifting of share restrictions complies with relevant regulations and that the information disclosed is accurate and complete [23][24]. - The company has committed to fulfilling all public commitments made during the IPO process and will accept social supervision [16][17].

Group 1 - The core viewpoint of the report is that the underwriting institution, Industrial Securities, is responsible for the continuous supervision of Shenzhen Zecheng Electronics Co., Ltd. and has issued a tracking report for the first half of 2025 [1][2] - The continuous supervision work includes timely review of the company's information disclosure documents, ensuring compliance with the new Company Law, and establishing sound governance and internal control systems [1][2] - The underwriting institution has conducted on-site verification of the use of raised funds and the progress of investment projects, ensuring effective execution of governance systems during the supervision period [2] Group 2 - No significant issues were found during the supervision period, indicating that the company and its shareholders have fulfilled their commitments well without any violations [2] - The report highlights various risks faced by the company, including intensified market competition, reliance on a single major customer, fluctuations in raw material prices, and potential loss of professional talent [2]

Core Viewpoint - The company has announced a temporary grant of restricted stock under its 2025 incentive plan, with specific conditions and details regarding the grant date, quantity, and pricing [1][2][3]. Summary by Sections Restricted Stock Grant Details - Grant Date: September 4, 2025 [1] - Quantity of Restricted Stock: 100,000 shares, representing 0.13% of the total share capital of 75,196,700 shares [1][9] - Grant Price: 16.83 yuan per share [1][4] Decision-Making Process - The board of directors and the supervisory board have approved the relevant proposals regarding the incentive plan [2][3]. - The supervisory board verified the incentive object list and issued relevant opinions [2][10]. Conditions for Granting - The granting conditions have been met, and the company has confirmed that there are no disqualifying circumstances for the incentive object [5][11]. - The incentive object, Mr. He Wei, had previously reduced his shareholding through an employee stock ownership platform, leading to the temporary grant of his shares [4][12]. Accounting Treatment and Performance Impact - The fair value of the restricted stock will be determined based on the closing price on the grant date minus the grant price, with costs amortized over the vesting period [12]. - The estimated impact on net profit due to the amortization of restricted stock expenses is acknowledged, but the plan is expected to enhance employee cohesion and operational efficiency [13]. Legal and Financial Advisory Opinions - Legal opinions confirm that the grant has obtained necessary approvals and complies with relevant regulations [13][14]. - Independent financial advisors have also affirmed that the grant conditions are met and the process aligns with regulatory requirements [14].

Group 1 - The company has decided to postpone the grant of the first category of restricted stock to certain incentive targets, with a total of 10 million shares representing 2.60% of the incentive plan [1] - The total number of shares granted under all effective incentive plans does not exceed 20% of the company's total share capital at the time of the announcement of the incentive plan draft [1] - The incentive target, He Wei, has met all the granting conditions outlined in the incentive plan as of the date of the board meeting resolution [2] Group 2 - He Wei's grant of 100,000 shares of the first category of restricted stock is postponed due to prudent considerations to avoid potential short-term trading behavior [2] - The company has a policy that no individual incentive target can hold more than 1% of the company's total share capital through all effective stock incentive plans [1]

Core Viewpoint - The company has completed the repurchase and cancellation of a total of 193,000 restricted stocks due to the voluntary resignation of two incentive plan participants, which will not significantly impact its financial performance or operational capabilities [2][4][9]. Summary by Sections 1. Repurchase and Cancellation Details - A total of 193,000 restricted stocks were repurchased and canceled, including 63,000 stocks from the initial grant and 130,000 from the reserved grant, with total funds amounting to 1,661,050.00 RMB [2][4][7]. - The repurchase price for the initial grant was set at 6.35 RMB per share, while the reserved grant was set at 9.70 RMB per share [5][6]. 2. Reasons for Repurchase - The repurchase was initiated because one participant from the initial grant and one from the reserved grant voluntarily resigned, thus losing their eligibility for the incentive plan [4][5]. 3. Financial Impact and Accounting Treatment - The repurchase and cancellation of the restricted stocks will not have a significant impact on the company's financial status or operational performance, and it complies with relevant regulations [8][9]. - The accounting treatment involves reversing the previously amortized share payment expenses and adjusting capital reserves and management expenses accordingly [9][10]. 4. Changes in Share Capital Structure - Following the repurchase, the total number of shares decreased from 369,697,506 to 369,504,506, with a reduction of 193,000 shares in the restricted stock category [7][8].

Group 1 - The company has conducted a self-examination regarding the trading of its stocks by insiders and incentive recipients in relation to the 2025 Restricted Stock Incentive Plan [1][2] - The self-examination period was from February 19, 2025, to August 19, 2025, during which the company confirmed that two individuals engaged in stock trading based on publicly disclosed information and independent judgment [2] - The company concluded that there were no instances of insider trading or leakage of insider information related to the incentive plan during the self-examination period [2] Group 2 - The company has established relevant systems for information disclosure and insider information management in accordance with applicable laws and regulations [2] - The board of directors and all directors guarantee the truthfulness, accuracy, and completeness of the announcement, assuming legal responsibility for its content [1]

Group 1 - The company is set to pay interest and principal for the short-term corporate bond "25 Guangfa D3" on September 8, 2025, with a coupon rate of 1.95% [1][2] - Each hand (face value of 1,000 yuan) will receive a total of 1,010.578082 yuan (including tax) upon maturity, with the net amount for individual and fund holders being 1,008.462465 yuan after tax deductions [2][3] - The bond has a credit rating of A-1, while the company's overall credit rating is AAA with a stable outlook [1][3] Group 2 - The bond's interest income tax for individual holders is set at a rate of 20% on the interest amount, which will be withheld at the time of payment [3][4] - Foreign institutional investors are exempt from corporate income tax and value-added tax on bond interest income until December 31, 2025 [3][4] - The company will ensure that the bond payment is transferred to the designated bank account of China Clearing Shenzhen Branch two trading days before the payment date [2][3]

Core Viewpoint - The company announces that its convertible bond, "Fangyuan Convertible Bond," is expected to trigger conditions for a downward adjustment of the conversion price due to the stock price being below 85% of the current conversion price for 10 out of 30 trading days [1][4]. Group 1: Convertible Bond Issuance and Trading - The company issued 6,420,000 convertible bonds at a face value of 100 yuan each, raising a total of 642 million yuan [1][2]. - The bonds began trading on November 7, 2022, under the name "Fangyuan Convertible Bond" with the code "118020" [2]. Group 2: Conversion Price Adjustment Conditions - The initial conversion price was set at 18.63 yuan per share, which may be adjusted if the stock price falls below 15.84 yuan for a specified period [1][2]. - The company has the authority to propose a downward adjustment of the conversion price if the stock price conditions are met, requiring a two-thirds majority approval from shareholders [3]. Group 3: Adjustment Procedures - If the conversion price is adjusted, the company will announce the new price, the record date for shareholders, and any suspension of conversion applications [4]. - The adjusted conversion price must not be lower than the average trading price of the stock over the 20 trading days prior to the shareholders' meeting [3].