Sichuan Shudao Equipment will repurchase and cancel 1,967,300 restricted shares involving 133 incentive recipients.

Sichuan Shudao Equipment Technology Co., Ltd. (hereinafter referred to as the “Company”) announced on March 27, 2026 that, due to the failure to meet the Company-level performance appraisal target for the second tranche of its 2023 restricted stock incentive plan, it will repurchase and cancel 1.96728 million shares of restricted stock that have been granted to 133 incentive participants but have not yet had their transfer restrictions lifted. This represents 0.86% of the Company’s current total share capital. The repurchase price is RMB 6.76 per share. After the completion of this repurchase and cancellation, the Company’s total share capital and registered capital will correspondingly decrease.

Reason for Repurchase and Cancellation: Performance Appraisal Not Met

The announcement shows that, in accordance with the relevant provisions of the 《Sichuan Shudao Equipment Technology Co., Ltd. 2023 Restricted Stock Incentive Plan (Revised Draft)》 and the implementation and appraisal management measures, if the Company’s performance appraisal target for a given restricted stock unlocking period is not met, then the restricted shares that all incentive participants are eligible to unlock for that period may not have their transfer restrictions lifted; instead, the Company will repurchase and cancel them at the lower of the grant price and the stock market price.

Given that the Company’s Company-level performance appraisal target for the second tranche of its 2023 restricted stock incentive plan was not achieved, the Company has decided to repurchase and cancel the relevant restricted shares.

Details of the Repurchase and Cancellation

This repurchase and cancellation involves two parts: the initial grant and the reserve grant, covering a total of 133 incentive participants. The specific breakdown is as follows:

The repurchase price is RMB 6.76 per share. After the completion of the repurchase and cancellation, the Company’s total number of shares will change from 229,559,110 shares to 227,591,830 shares, and the registered capital will also correspondingly decrease from RMB 229,559,110 to RMB 227,591,830.

Notice to Creditors Regarding Claims

Pursuant to relevant laws and regulations such as the Company Law, the Company hereby notifies its creditors. Within 45 days from the date of this announcement, creditors may, by presenting contracts, agreements, and other documents evidencing the existence of creditor-debtor relationships, file their claims against the Company, and request the Company to settle its debts or provide corresponding guarantees.

The specific arrangements for filing claims are as follows:

• Place for claim registration: No. 569 Shanshengtiao Road, North Area, Modern Industrial Port, Pidu District, Chengdu
• Time for claim filing: Within 45 days from March 31, 2026 (working days 09:30-11:30; 14:30-16:30; excluding weekends and statutory holidays)
• Contact person: Jia Xue
• Phone number: 028-87893658
• Email: 300540@shudaozb.com

Claims may be filed by on-site submission, mail, or email. For claims filed by mail, the claim date shall be based on the postmark date or the date the courier company dispatches; for claims filed by email, the claim date shall be based on the date the Company receives the email. Please indicate the words “claiming debts” in the relevant documents.

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Responsible editor: Xiao Lang Express