On June 13th, Gelonhui announced that on June 13th, 2024, the company received the "Confirmation of Securities Transfer Registration" issued by China Securities Depository and Clearing Corporation Shenzhen Branch for the company's repurchase special securities account holding 2,214,700 company stocks, which were transferred to the "Shenzhen Wote New Material Co., Ltd. - 2024 Employee Shareholding Plan" special securities account opened by the company on June 12th, 2024 through non-trading transfer, accounting for 0.84% of the total share capital of the company. The transfer price was 10.1530 yuan/share. The total number of stocks held by all valid employee shareholding plans of the company does not exceed 10% of the total share capital of the company, and the cumulative total number of stocks corresponding to the shareholding rights of individual employees does not exceed 1% of the total share capital of the company.

The term of the employee shareholding plan is 48 months, starting from the date when the draft of the employee shareholding plan is approved by the company's shareholders' meeting and all target stocks are transferred to the name of the employee shareholding plan. The target stocks of the employee shareholding plan will be unlocked in three phases, with lock-up periods of 12 months, 24 months, and 36 months, all starting from the date when the last target stock is transferred to the name of the employee shareholding plan announced by the company. After the lock-up period expires, the stock rights and interests held by the employee shareholding plan will be allocated to the holders based on the performance assessment results of the corresponding assessment year.