Shenzhen Zhengxian Electric Co., Ltd. Announcement on the Adjustment of Core Technical Personnel

Securities Code: 688395 Securities Abbreviation: Zhengxian Electric Announcement Number: 2026-004

Shenzhen Zhengxian Electric Co., Ltd.

Announcement on the Adjustment of Core Technical Personnel

The company’s board of directors and all directors guarantee that there are no false records, misleading statements, or significant omissions in the content of this announcement, and they bear legal responsibility for the authenticity, accuracy, and completeness of its content in accordance with the law.

Important Content Reminder:

● Mr. Yang Jiawei, a core technical personnel of Shenzhen Zhengxian Electric Co., Ltd. (hereinafter referred to as the “Company”), has applied for resignation due to personal reasons and has recently completed the resignation process. After leaving, Mr. Yang Jiawei will no longer hold any position in the Company.

● All intellectual property rights arising from the research and development that Mr. Yang Jiawei participated in during his tenure as core technical personnel belong to the Company, and there are no issues regarding job performance results, intellectual property disputes, or potential disputes, and there are no circumstances that affect the integrity of the Company’s intellectual property.

● The work that Mr. Yang Jiawei was responsible for has been successfully handed over, and the Company’s production, operations, technical research and development, and other work are all proceeding normally. This adjustment of core technical personnel will not have a significant adverse impact on the Company’s ongoing operating capability, research and development strength, and core competitiveness.

I. Specific Situation of Core Technical Personnel Adjustment

Mr. Yang Jiawei, a core technical personnel of the Company, has applied for resignation due to personal reasons and has recently completed the resignation process. After leaving, Mr. Yang Jiawei will no longer hold any position in the Company. The Company and the board of directors express heartfelt gratitude for Mr. Yang Jiawei’s contributions to the Company’s development during his tenure!

(1) Specific Situation of Core Technical Personnel

Mr. Yang Jiawei, male, born in March 1985, Chinese nationality, without foreign permanent residency, holds a master’s degree. From March 2013 to December 2020, he served as a control software engineer; from January 2021 to October 2021, he served as the manager of the software development department of the Shenzhen R&D center; from November 2021 to January 2023, he served as the manager of the algorithm research department; from February 2023 to September 2023, he served as the manager of the inverter development department; from October 2023 to January 2025, he served as the deputy director of the inverter product line. Since February 2025, he has served as the director of the asynchronous motor algorithm research room.

As of the date of this announcement, Mr. Yang Jiawei directly holds 2,000 shares of the Company and indirectly holds 55,535.10 shares of the Company through Ningbo Xinzhiquyuan Enterprise Management Partnership (Limited Partnership). After this adjustment of core technical personnel, Mr. Yang Jiawei will continue to comply with the “Shanghai Stock Exchange Science and Technology Innovation Board Stock Listing Rules” and other relevant laws and regulations and the commitments made.

(2) Research and Development and Intellectual Property Situation

During Mr. Yang Jiawei’s tenure, he was primarily responsible for core algorithm research, product planning, application promotion, and tracking the dynamics of the inverter industry. Currently, Mr. Yang Jiawei has successfully completed the handover of work with the Company’s R&D team, and this adjustment of core technical personnel will not adversely affect the progress of existing R&D projects.

During Mr. Yang Jiawei’s tenure, he participated in the research and has been authorized for 3 invention patents. All intellectual property rights arising from the research and development that he participated in belong to the Company, and there are no issues regarding job performance results, intellectual property disputes, or potential disputes, and there are no circumstances that affect the integrity of the Company’s intellectual property.

(3) Confidentiality Agreement Situation

Mr. Yang Jiawei has signed a “Labor Contract” and “Confidentiality Agreement” with the Company, and both parties have made clear agreements on confidentiality content, rights, obligations, and other matters. Mr. Yang Jiawei has a confidentiality obligation for the commercial secrets of the Company that he is aware of. As of the date of this announcement, the Company has not found any violations of confidentiality-related agreements by Mr. Yang Jiawei.

II. Impact of Core Technical Personnel Adjustment on the Company

The Company has been deeply engaged in the field of industrial automation for many years. Relying on long-term technological accumulation and business development, it has established a complete R&D system and technical platform, creating a highly efficient, stable, comprehensive, and experienced R&D team. Since its establishment, the Company has always placed a high value on the introduction and cultivation of technical talents, continuously enriching talent reserves, optimizing personnel structure, and enhancing the overall strength of the R&D team. After years of development, the Company has formed a complete technical talent echelon and does not have a significant reliance on any single core technical personnel. This adjustment of core technical personnel will not have a significant adverse impact on the Company’s ongoing operating capability, research and development strength, and core competitiveness.

As of the end of 2022, 2023, and 2024, the number of R&D personnel in the Company was 112, 122, and 148, respectively, accounting for 28.00%, 27.29%, and 26.29% of the total number of employees in the Company. The structure of the Company’s R&D team is complete, and there are sufficient reserves of personnel.

After this adjustment, the specific situation of the Company’s core technical personnel is as follows:

■

III. Measures Taken by the Company

As of the date of this announcement, Mr. Yang Jiawei has completed the handover of work with the Company’s R&D team, and currently, all R&D projects of the Company are progressing according to plan. The Company always regards technological innovation and R&D capability construction as an important guarantee of core competitiveness. In the process of business development, it continuously increases R&D investment, continuously improves the R&D system and team building, and continuously enhances the overall level of technological innovation through a systematic innovation mechanism and talent training system.

This is hereby announced.

Board of Directors of Shenzhen Zhengxian Electric Co., Ltd.

March 18, 2026