Zhejiang Hengtong Holding reviewed and approved the allocation proposal for the reserved shares of the 2024 employee stock ownership plan

On September 16, 2025, Zhejiang Hengtong Holding Co., Ltd. held the 23rd meeting of the 9th Board of Directors, reviewing and approving the proposal on the allocation of reserved shares for the 2024 employee stock ownership plan. In April to May 2024, the company will complete a series of decisions regarding the employee stock ownership plan, non-trading transfer of shares, and other matters. The total reserved shares for this allocation and the shares recovered from departing employees amount to 6.21 million shares, to be subscribed by no more than 3 eligible individuals at a subscription price of 1.34 yuan per share, with no directors or senior executives participating. The funding comes from employees' legal salaries and other sources. After implementation, the effective employee stock ownership plan will not exceed 10% of the share capital, and no individual employee will receive more than 1%. The lock-up period and unlocking ratio will be determined based on performance assessment results. The Compensation and Assessment Committee of the Board of Directors believes that the allocation is legal and valid, and does not harm the interests of shareholders