Huaxun Technology Co., Ltd. Announcement on the Grant Results of the 2026 Restricted Stock Incentive Plan

Stock Code: 603296 Stock Short Name: Huaqin Technology Announcement No.: 2026-034

Huaqin Technology Co., Ltd.

Announcement on the Grant Results of the 2026 Restricted Stock Incentive Plan

The board of directors of this company and all directors warrant that there are no false records, misleading statements or material omissions in the contents of this announcement, and assume legal responsibility for the truthfulness, accuracy and completeness of the contents.

Key Information:

● Restricted stock grant registration date: March 30, 2026

● Restricted stock grant registration quantity: 2.31M shares

In accordance with the provisions of the Administrative Measures for Equity Incentive Management of Listed Companies, and in accordance with the relevant requirements of the Shanghai Stock Exchange and China Securities Depository and Clearing Co., Ltd., Shanghai Branch, Huaqin Technology Co., Ltd. (hereinafter referred to as the “Company”) has recently completed the grant registration of the 2026 restricted stock incentive plan of the Company (hereinafter referred to as the “Incentive Plan”) with China Securities Depository and Clearing Co., Ltd., Shanghai Branch. The relevant matters are hereby announced as follows:

I. Grant of Restricted Stock Under the Incentive Plan

On February 12, 2026, the Company convened the 23rd meeting of the second session of its board of directors, which reviewed and approved the resolutions titled “Resolution on Adjusting Certain Matters Related to the Company’s 2026 Restricted Stock Incentive Plan” and “Resolution on Granting Restricted Stocks to the Incentive Recipients Under the Company’s 2026 Restricted Stock Incentive Plan.” The board of directors held that the restricted stock grant conditions prescribed in this Incentive Plan had been satisfied, and agreed to determine February 12, 2026 as the grant date, and grant 2.4331 million shares of restricted stock at a grant price of RMB 47.95 per share to 464 incentive recipients. The compensation and appraisal committee of the board of directors issued an affirmative review opinion.

Pursuant to the provisions of the “Huaqin Technology Co., Ltd. 2026 Restricted Stock Incentive Plan (Draft)” and the authorization from the Company’s first extraordinary general meeting of shareholders in 2026, the board of directors has completed the grant registration of restricted stock under this Incentive Plan. The specific details are as follows:

(1) Specific details of the actual grant under this Incentive Plan

1. Grant date: February 12, 2026

2. Grant quantity: 2.31M shares

3. Source of shares: the Company repurchased A-share ordinary shares from the secondary market

4. Number of recipients: 440 persons

5. Grant price: RMB 47.95 per share

6. Explanation of differences between the actual grant quantity and the proposed grant quantity

After the board of directors determined the restricted stock grant date, during the subsequent payment and registration process, 4 incentive recipients did not subscribe in full, and 24 recipients waived their subscription. The total number of restricted stock shares waived by the incentive recipients amounted to 121.52k shares. The 121.52k shares of restricted stock waived by the above incentive recipients will directly be reduced and cancelled. Therefore, the number of incentive recipients under this Incentive Plan changed from 464 persons to 440 persons, and the number of restricted stock shares actually granted changed from 2.4331 million shares to 2.31M shares.

(2) List of Incentive Recipients and Grant Details

The allocation of the restricted stocks actually granted under this Incentive Plan among the incentive recipients is shown in the table below:

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Note: 1. None of any individual incentive recipient has been granted the company’s shares through any equity incentive plan within the effective period in excess of 1.00% of the Company’s total share capital. The total number of underlying shares involved in all equity incentive plans within the effective period shall not exceed 10.00% of the total share capital of the Company at the time of announcement of this Incentive Plan.

2. The incentive recipients under this Incentive Plan do not include independent directors, nor do they include shareholders or actual controllers holding 5% or more of the Company’s shares individually or in aggregate, and their spouses, parents, and children.

3. If the figures in the above table show that the total does not match the sum of the individual sub-items due to decimal places, it is due to rounding.

II. Term, Lock-up Periods, and Release of Restrictions Under the Incentive Plan

(1) Term

The term of the restricted stocks granted under this Incentive Plan shall be from the date on which the restricted stock grant registration is completed until the date on which all the restricted stocks granted to the incentive recipients have had all restrictions released or the repurchase is completed. The term shall not exceed 48 months.

(2) Lock-up Periods and Arrangements for Release of Restrictions

The lock-up period for the restricted stocks granted under this Incentive Plan shall be 12 months, 24 months, and 36 months from the date on which the grant registration is completed. Prior to the release of restrictions, incentive recipients may not transfer, use as security, or repay debts with the restricted stocks they have been granted under this Incentive Plan. The shares obtained by incentive recipients due to capital reserve capitalization, stock dividends, or stock splits are subject to lock-up at the same time, and may not be sold on the secondary market or transferred by any other means. The release period of restrictions for such shares shall be the same as the restriction release period for the restricted stocks. If the Company repurchases restricted stocks that have not yet had restrictions released, such shares shall be repurchased together.

After the lock-up period expires, the Company will handle the matters relating to the release of restrictions for incentive recipients who meet the conditions for release of restrictions. For incentive recipients who do not meet the conditions for release of restrictions, the restricted stocks held by them shall be repurchased by the Company.

The restriction release periods and the scheduled times for each tranche of restriction release of the restricted stocks granted under this Incentive Plan are shown in the table below:

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During the agreed periods above, if the incentive recipients have not applied for release of restrictions, or if the corresponding restricted stocks cannot be applied for release of restrictions due to not meeting the conditions for release of restrictions, the Company will repurchase the shares in accordance with the principles stipulated in this Incentive Plan.

III. Registration of Restricted Stocks

The restricted stocks registered under this Incentive Plan are 2.31M shares. The Company has completed the grant registration of the above shares with China Securities Depository and Clearing Co., Ltd., Shanghai Branch, and received on April 1, 2026 the “Securities Change Registration Proof” issued by China Securities Depository and Clearing Co., Ltd., Shanghai Branch. The equity registration date is March 30, 2026.

IV. Impact on the Controlling Shareholder(s) of the Company Before and After the Grant

This restricted stock registration will not result in any change to the Company’s controlling shareholder(s) and actual controller(s).

V. Changes in Equity Structure

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VI. Plan for Use of Proceeds Raised in This Round

All funds raised under this restricted stock incentive plan will be used to replenish the Company’s working capital.

VII. Impact on the Financial Position of the Company After This Grant

The Company determines the fair value of the restricted stocks as of the grant date using the relevant valuation tools, and ultimately confirms the share payment expenses under this Incentive Plan. Such expenses will be recognized in installments in the course of implementing this plan based on the proportion of restriction release. The incentive costs generated by this Incentive Plan will be expensed in recurring profit or loss.

The board of directors has determined the grant date of this Incentive Plan as February 12, 2026. Based on the total fair value amount as of the grant date, the incentive costs of the restricted stock granted under this Incentive Plan are recognized. The impact of the restricted stock granted under this Incentive Plan on accounting costs for each period is shown in the table below:

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Note: 1. The above results do not represent the final accounting costs. Actual accounting costs, in addition to being related to the actual grant date, grant price and grant quantity, are also related to the number of shares that actually vest and the number that becomes invalid. Shareholders are also reminded to pay attention to potential dilution effects.

2. The final result of the impact of the above cost amortization on the Company’s operating results will be subject to the annual audit report issued by the accounting firm.

3. If this Incentive Plan is terminated, accounting treatment shall be carried out in accordance with the relevant provisions of the accounting standards.

This announcement is hereby issued.

Board of Directors of Huaqin Technology Co., Ltd.

April 2, 2026

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