Zhejiang Yongtai - Repurchase & Cancellation Of Restricted Shares

ZHEJIANG YONGTAI TECHNOLOGY CO., LTD.

(GDR under the symbol: "YTT")

(a joint stock company established under the laws of the People's Republic of China with limited liability)

Announcement On The Completion Of Repurchase And Cancellation

 Of Certain Restricted Shares

Zhejiang Yongtai Technology Co., Ltd. (hereinafter referred to as the "Company") has recently completed the repurchase and cancellation of certain restricted shares under the 2024 Restricted Shares Incentive Scheme. The relevant details are hereby announced as follows:

I. DETAILS OF THE REPURCHASE AND CANCELLATION OF THE RESTRICTED SHARES

Pursuant to the relevant provisions of the 2024 Restricted Shares Incentive Scheme of Zhejiang Yongtai Technology Co., Ltd. (hereinafter referred to as the "2024 Incentive Scheme"), The Company repurchased and cancelled 153,159 restricted shares which have been granted but not yet unlocked due to the Company-level performance targets not being fully met, as well as 120,000 restricted shares which have been granted but not yet unlocked for four participants who no longer qualified for unlocking, totaling 273,159 restricted shares which have been granted but not yet unlocked, and representing 2.35% of the total restricted shares granted under the Incentive Scheme and 0.03% of the Company's total share capital prior to the repurchase. The repurchase price was RMB4.30 per share, consistent with the grant price. The total funds used for the repurchase of restricted shares amounted to RMB1,174,583.70, fully paid from the Company's own funds.

II. CAPITAL VERIFICATION BY THE ACCOUNTING FIRM AND COMPLETION OF THE REPURCHASE AND CANCELLATION

BDO China Shu Lun Pan Certified Public Accountants LLP issued the Capital Verification Report (XIN KUAI SHI BAO ZI [2025] No. ZF11245) on 23 October 2025. Upon verification, as of 15 October 2025, the Company has actually paid an equity repurchase amount of RMB1,174,583.70, of which: share capital was reduced by RMB273,159.00; capital reserve was reduced by RMB901,424.70. Following the capital reduction, the Company's share capital was RMB925,127,636.00, with capital reserves amounting to RMB1,365,418,532.09.

As of the date of this announcement, the Company has completed the repurchase and cancellation procedures for the aforementioned restricted shares with Shenzhen Branch of China Securities Depository and Clearing Corporation Limited.

III. CHANGES IN THE SHARE CAPITAL STRUCTURE OF THE COMPANY BEFORE AND AFTER THE REPURCHASE AND CANCELLATION

Note: The discrepancy between the total percentage in the table above and the sum of its sub-items is due to rounding.

IV. IMPACT OF THE REPURCHASE AND CANCELLATION ON THE COMPANY

The repurchase and cancellation of certain restricted shares of the Company is in accordance with the specific handling provisions for restricted shares that no longer meet eligibility criteria under the 2024 Incentive Scheme. The quantity of restricted shares repurchased and cancelled, along with the funds used for repurchase, are relatively small, which will not have a significant impact on the Company's financial position or operating results, nor will it affect the motivation and stability of the Company's management team. The management team will continue to act diligently and conscientiously in fulfilling their duties, striving to create value for shareholders.

V. SUBSEQUENT ARRANGEMENT

Upon completion of the repurchase and cancellation, the Company will promptly handle the relevant industrial and commercial registration changes and filing procedures, including changes to the registered capital and amendments to the Articles of Association, in accordance with the Company Law and other applicable laws and regulations.

The Board of Directors

Zhejiang Yongtai Technology Co., Ltd.

30 October 2025