Satellite Petrochemical's first partnership shareholding plan nearing expiration

Zhejiang Satellite Petrochemical Co. Ltd.'s first partnership shareholding plan, established on May 25, 2022, is scheduled to expire on May 24, 2026, marking a 48-month duration. The plan currently holds 9,488,644 company shares, representing 0.2817% of the total share capital. These shares were adjusted from an initial 4,843,900 shares due to the implementation of the company's 2021 and 2022 half-year equity distribution plans.

The lock-up period for the plan concluded on May 24, 2023. As of the announcement date, no shares held under the plan have been sold, pledged, or used as collateral. Prior to its expiration, the company will dispose of the held shares in accordance with the "Partnership Shareholding Plan (Draft)" and decisions made by the plan's management committee, adhering strictly to market trading rules and regulatory guidelines regarding sensitive period trading restrictions.

The plan may be extended if approved by the management committee and the board of directors. It will automatically terminate upon reaching its expiry date or can be terminated early if all assets are converted to cash after the lock-up period. Investors are advised to monitor related announcements and potential investment risks.