Core Viewpoint - Ananda Drive Technology (Shanghai) Co., Ltd. has completed the registration of its 2025 Restricted Stock and Stock Option Incentive Plan, which aims to motivate employees and align their interests with those of shareholders [2][16]. Group 1: Incentive Plan Overview - The incentive plan was approved by the board on November 12, 2025, and involved multiple decision-making steps and disclosures [2][18]. - The plan includes a total of 39,000 shares of restricted stock granted to selected employees, with no individual receiving more than 1% of the company's total share capital at the time of the plan's announcement [6][19]. - The effective period of the incentive plan is set for a maximum of 60 months from the date of stock grant until all shares are either unlocked or repurchased [7][20]. Group 2: Lock-up and Release Arrangements - The lock-up periods for the restricted stock are 15, 27, and 39 months from the date of grant, during which the shares cannot be transferred or used as collateral [7][21]. - Upon expiration of the lock-up period, the company will handle the release of shares for those who meet the conditions, while shares of those who do not meet the conditions will be repurchased [7][8]. Group 3: Financial Impact and Fund Utilization - The funds raised from the incentive plan will be used entirely to supplement the company's working capital [12]. - The stock option and restricted stock grants will have an impact on the company's financial status and operating results, with costs being recognized based on the fair value of the grants [13][23]. Group 4: Shareholder Control and Structure - Following the completion of the restricted stock grant registration, the company's total share capital increased from 116,455,000 shares to 116,494,000 shares, without affecting the control of the major shareholders [10][22].

Core Viewpoint - Ananda Drive Technology (Shanghai) Co., Ltd. has completed the granting registration of the reserved stock options under the 2024 Restricted Stock and Stock Option Incentive Plan, which aims to motivate and retain key employees through equity incentives [2][12]. Group 1: Incentive Plan Overview - The incentive plan was approved by the board and supervisory board on December 17, 2024, and the relevant proposals were disclosed on December 18, 2024 [2][12]. - The company publicly announced the names and positions of the incentive plan participants from December 18 to December 27, 2024, with no objections received [3][13]. - The first extraordinary general meeting of shareholders in 2025 approved the incentive plan and authorized the board to handle related matters [4][14]. Group 2: Stock Option Granting Details - On February 25, 2025, the company completed the first granting registration, awarding 415,000 restricted stocks to 23 incentive objects, increasing the total shares from 116,000,000 to 116,415,000 [5][15]. - The granting price for the restricted stocks was adjusted from 17.38 CNY/share to 16.83 CNY/share, and the exercise price for stock options was adjusted from 34.76 CNY/share to 34.21 CNY/share [5][15]. Group 3: Adjustments and Future Meetings - The company held several board meetings to adjust the granting prices and exercise prices based on the completion of annual equity distributions, with the latest adjustments made on July 25, 2025, and October 24, 2025 [6][17]. - The board approved the reserved granting of restricted stocks and stock options to incentive objects on November 12, 2025, with the supervisory committee providing verification opinions [7][18]. Group 4: Financial Impact and Reporting - The incentive plan will impact the company's financial status and operating results, with the board determining the granting date as November 12, 2025, for accounting purposes [11][24]. - The company will recognize the incentive costs based on the fair value of the granted stocks and options, which will affect the financial reports for the relevant years [11][24].