Megmeet completes restricted share repurchase and cancellation

Shenzhen Megmeet Electrical Co., Ltd. has announced the completion of its repurchase and cancellation of 35,000 restricted shares from five former employees who departed due to personal reasons. This action was carried out in accordance with the 2025 Restricted Stock Incentive Plan. The repurchased shares represent 1.13% of the total restricted shares involved in the incentive plan and 0.01% of the company's total share capital before the repurchase.

The repurchase price per share was adjusted to 22.92 yuan, factoring in the 2024 annual profit distribution of 0.05 yuan per share. The total cash consideration for this buyback amounted to 802,200 yuan, funded by the company's own funds. Following the completion of the repurchase and cancellation on November 20, 2025, the company’s total share capital has decreased from 550,112,251 shares to 550,077,251 shares.

This transaction primarily affects the number of restricted shares, reducing them from 92,244,890 to 92,209,890, while the unrestricted shares remain unchanged. The company confirmed that this change will not alter its actual control, impact its operating performance, or affect its eligibility for listing.