Kunshan Dongwei Technology Co., Ltd. Board of Directors' Share Reduction Plan Announcement

2026-04-08 11:43:42

Security code: 688700 Security abbreviation: Dongwei Technology Announcement No.: 2026-007

Kunshan Dongwei Technology Co., Ltd.

Announcement on Share Reduction Plan by Directors

This announcement is guaranteed by the board of directors, all directors, and relevant shareholders of the Company that it contains no false records, misleading statements or material omissions, and they shall bear legal responsibility in accordance with law for the authenticity, accuracy and completeness of the content.

Key Points:

● Basic information on the director’s holdings

As of the date of disclosure of this announcement, Mr. Wei Yongjun, a director of Kunshan Dongwei Technology Co., Ltd. (hereinafter referred to as the “Company”), directly holds 7,514,095 shares of the Company, representing 2.52% of the Company’s total share capital. Of these, 3,905,455 shares are shares held before the Company’s initial public offering and listing on the STAR Market, and 3,608,640 shares come from the conversion of capital reserve into share capital through equity distribution; all of them are tradable shares subject to no lock-up restrictions.

● Main contents of the reduction plan

Due to personal capital needs, within three months after 15 trading days from the date of disclosure of this announcement, Mr. Wei Yongjun plans, subject to the premise of reduction in accordance with relevant laws and regulations, to reduce the shares he directly holds through centralized bidding and block trading methods, not exceeding 1,500,000 shares, representing no more than 0.50% of the Company’s total share capital. The total number of shares individually reduced by Mr. Wei Yongjun represents no more than 25% of the total number of shares of the Company held by him prior to this reduction.

If, during the planned reduction period, ex-rights and ex-dividend matters such as bonus shares, conversion of capital reserves into share capital, and share allotment occur, the number of shares to be reduced will be adjusted accordingly.

The Company has recently received the “Notice Letter on Share Reduction Plan” issued by Mr. Wei Yongjun. The specific details are hereby announced as follows:

I. Basic information of the reducing party

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The above-mentioned reducing party has no parties acting in concert.

The most recent share reduction by the director

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Note: The shareholding ratio shown in the table is calculated based on the Company’s total share capital as of the date when the reduction plan announcement was disclosed at that time.

II. Main contents of the reduction plan

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During the pre-disclosure period, if the Company’s stock is suspended from trading, the actual commencement time of the reduction will be postponed accordingly based on the suspension time.

(a) Whether the relevant shareholders have other arrangements □ Yes √ No

(b) Whether prior commitments were made by the major shareholder and directors, supervisors and senior management regarding their shareholding ratio, shareholding quantity, shareholding period, reduction method, reduction quantity, reduction price, etc. √ Yes □ No

According to the “Prospectus for the Initial Public Offering of Shares by Kunshan Dongwei Technology Co., Ltd. and Listing on the STAR Market,” the commitments made by the above-mentioned reducing party for shares prior to the issuance are as follows:

“(1) Within 12 months from the date of the Company’s stock listing, the undersigned shall not transfer or authorize any other person to manage the Company shares directly or indirectly held by the undersigned before this issuance, nor shall the Company repurchase the shares subject to such part.

(2) In addition to the foregoing lock-up period, during the period in which the undersigned serves as a director, supervisor or senior management officer of the Company, the shares that the undersigned transfers each year shall not exceed 25% of the total number of shares directly or indirectly held by the undersigned; within 6 months after leaving the position, the undersigned shall not transfer the Company shares directly or indirectly held by the undersigned.”

“If the undersigned violates the above-mentioned restrictions on share circulation and the voluntary lock-up commitments, the undersigned shall publicly state the specific reasons for not fulfilling the commitments at the Company’s shareholders’ meeting and on newspapers designated by the China Securities Regulatory Commission, and apologize to the Company’s shareholders and the investing public; if any gains are obtained due to failure to fulfill the restrictions on share circulation and the voluntary lock-up commitments, such gains shall belong to the Company, and within five working days after obtaining the gains, the undersigned shall pay the aforementioned gains to the Company’s account.”

Whether the proposed share reduction in this instance is consistent with the commitments previously disclosed √ Yes □ No

© Whether it belongs to a listed company that has not been profitable at the time of listing, and the situation where the controlling shareholder, actual controller, directors, supervisors, and senior management plan to reduce shares issued prior to the initial public offering □ Yes √ No

(d) Other matters required by this exchange

The above-mentioned reducing party does not have any situation in which it is prohibited from reducing shares as stipulated in the “15th Self-regulatory Guidance for Listed Companies of the Shanghai Stock Exchange—Share Reductions by Shareholders, Directors, Supervisors and Senior Management Officers of Listed Companies.”

III. Share reduction by the controlling shareholder or actual controller of shares prior to the initial public offering

Whether it is the case that the controlling shareholder or actual controller plans to reduce shares prior to the initial public offering □ Yes √ No

IV. Risk reminders related to the share reduction plan

(a) Uncertainty risks in implementing the reduction plan, such as the specific circumstances of fulfillment or elimination of the conditions and restrictions for the implementation plan

This reduction plan is an independent decision made by the above-mentioned reducing party based on its own capital needs. During the reduction period, the above-mentioned reducing party will, based on factors such as market conditions and the Company’s stock price, choose whether to implement and how to implement the share reduction plan.

(b) Risk that the implementation of the reduction plan may lead to a change in the control of the listed company

□ Yes √ No

This share reduction plan complies with relevant provisions including the “Company Law of the People’s Republic of China,” the “Securities Law of the People’s Republic of China,” the “Interim Measures for the Administration of Share Reductions by Shareholders of Listed Companies,” and the “15th Self-regulatory Guidance for Listed Companies of the Shanghai Stock Exchange—Share Reductions by Shareholders, Directors, Supervisors and Senior Management Officers of Listed Companies,” among others.
The Company will continue to pay attention to the relevant circumstances of the above-mentioned director’s share reductions and will, in accordance with relevant provisions, timely fulfill its information disclosure obligations.

This announcement is hereby made.

Board of Directors of Kunshan Dongwei Technology Co., Ltd.

April 2, 2026

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