Chongqing Qianli establishes ESOP management committee

Chongqing Qianli Technology Co. held the first meeting of its 2025 Employee Stock Ownership Plan (ESOP) on October 20, 2025, with all holders attending. Participants, representing 114,490,000 units or 100% of the initial subscription, unanimously approved the establishment of the ESOP Management Committee. This committee will oversee the daily operations of the 2025 ESOP and represent holders' shareholder rights for the ESOP's duration.

The meeting also elected Tian Miao, Liu Kai, and Hu Shihua as committee members, who will serve for the ESOP's duration. Tian Miao was appointed as the committee director. All elected members confirmed no affiliation with the company's controlling shareholder, actual controller, directors, or senior management.

Holders granted extensive authorization to the management committee to handle various ESOP-related matters. These responsibilities include convening holder meetings, managing securities and capital accounts, exercising shareholder rights, handling post-lock-up stock sales and distributions, managing asset allocation, determining allocation schemes for unallocated shares, and addressing eligibility matters. The committee is also authorized to manage cash assets through low-risk products.