Guoco Law Firm (Shanghai) Legal Opinion on the achievement of vesting conditions in the first vesting period for the first vesting period of the 2023 restricted stock incentive plan of Jiangsu Haooubo Biopharmaceutical Co., Ltd. to some first-category incentive objects and the invalidation of some restricted stocks.
Guoco Law Firm (Shanghai)
About
Jiangsu Haooubo Biopharmaceutical Co., Ltd.
The 2023 Restricted Stock Incentive Plan first grants some first-class incentive objects the achievement of vesting conditions in the first vesting period and matters related to the invalidation of some restricted stocks.
of
legal opinion
MT25-28F, Suhewan Center, No. 99 Shanxi North Road, Jing'an District, Shanghai Postal Code: 200085 25-28/F, SuheCentre, 99 North Shanxi Road, Jing'an District, Shanghai, China Tel: +862152341668 Fax: +862152341670
Website/Website: http://www.grandall.com.cn
April 2026
Guoco Law Firm (Shanghai) Legal Opinion
Directory
Definition......................................................................................................................2
Section 1 Introduction................................................................................................................4
Section 2 Text of Legal Opinion................................................................................................5
Approval and authorization of this vesting and invalidation......................................5
Information related to this ownership......................................................................................7
(1) The vesting period of this vesting......................................................................7
(2) Conditions and achievements of this vesting......................................................7
(3) Specific circumstances of this ownership......................................................................9
Information related to this cancellation......................................................................10
Concluding observations................................................................................................11
Section 3 Signature Page......................................................................................................12 Guoco Law Firm (Shanghai) Legal Opinion
Definition
Unless otherwise stated, the relevant words in this legal opinion have the following specific meanings: "Company Law" refers to the "Company Law of the People's Republic of China" (revised in 2023)
"Articles of Association" refers to "Articles of Association of Jiangsu Haooubo Biopharmaceutical Co., Ltd."
"Stock Incentive Plan (draft) "Jiangsu Haoubo Biopharmaceutical Co., Ltd. 2023 Restricted Stock Incentive Plan
refer to
(Project)》 (Draft)》
"Administrative Measures" refers to the "Measures for the Administration of Equity Incentives of Listed Companies" (revised in 2025) "Listing Rules" refers to the "Stock Listing Rules of the Shanghai Stock Exchange's Science and Technology Innovation Board (revised in April 2025)" "Securities Law" refers to the "Securities Law of the People's Republic of China" (revised in 2019)
This incentive plan refers to the 2023 Restricted Stock Incentive Plan of Jiangsu Haooubo Biopharmaceutical Co., Ltd. Our firm refers to Guoco Law Firm (Shanghai)
Lawyers of our firm refer to the lawyers assigned by our firm to handle this incentive plan
Company, Hao'aobo refers to Jiangsu Hao'aobo Biopharmaceutical Co., Ltd.
Shanghai Stock Exchange refers to Shanghai Stock Exchange
Incentive objects that meet the grant conditions of this incentive plan, after meeting the corresponding vesting conditions, restricted stocks refer to
Company shares obtained and registered in installments
Yuan refers to RMB unless otherwise specified.
China Securities Regulatory Commission refers to China Securities Regulatory Commission
Guoco Law Firm (Shanghai) Legal Opinion
Guoco Law Firm (Shanghai)
About Jiangsu Haooubo Biopharmaceutical Co., Ltd.
The 2023 Restricted Stock Incentive Plan first grants some first-category incentive objects the vesting conditions for the first vesting period and matters related to the invalidation of some restricted stocks.
legal opinion
To: Jiangsu Haooubo Biopharmaceutical Co., Ltd.
Guoco Law Firm (Shanghai) accepted the company's entrustment and served as the company's special legal advisor for this incentive plan.
In accordance with the "Company Law", "Securities Law", "Administrative Measures" and other laws and regulations, as well as the relevant provisions of the China Securities Regulatory Commission, in accordance with the requirements of the "Administrative Measures for Law Firms Engaged in Securities Legal Business" and the "Rules for the Practice of Securities Legal Business of Law Firms (Trial)", in accordance with the recognized business standards, ethics and diligence of the lawyer industry, based on facts and based on the law, we carry out verification work and issue this legal opinion.
Guoco Law Firm (Shanghai) Legal Opinion
Section 1 Introduction
Our lawyers issue legal opinions based on the facts that have occurred or existed before the date of issuance of this legal opinion and the current laws and regulations of my country and the relevant provisions of the China Securities Regulatory Commission, and declare as follows:
(1) In accordance with the provisions of relevant laws, regulations and normative documents such as the Company Law, Securities Law, and Administrative Measures, as well as the facts that have occurred or existed before the date of issuance of the legal opinion, the firm and its handling lawyers strictly performed their statutory duties, followed the principles of diligence and good faith, conducted sufficient verification and verification, and ensured that the facts identified in the legal opinion were true, accurate, and complete, and that the conclusive opinions issued were legal and accurate, without false records, misleading statements, or major omissions, and they shall bear corresponding legal responsibilities.
(2) The lawyers of our firm agree to use this legal opinion as a necessary legal document for the company's ownership and invalidation, and to submit or publicly disclose it together with other application materials, and are willing to assume corresponding legal responsibilities.
(3) The company guarantees that it has provided the lawyers of our firm with authentic, complete and valid original written materials, copies of materials or oral testimony necessary for issuing legal opinions.
(4) For facts that are crucial to this legal opinion but cannot be supported by independent evidence, our lawyers rely on supporting documents, testimonies or copies of documents issued or provided by relevant government departments, companies or other relevant units or relevant persons to issue legal opinions.
(5) This legal opinion only expresses legal opinions on the legal issues related to this vesting and invalidation in accordance with the law. It does not express opinions on the rationality of the stock value, assessment standards and other issues involved in the company's incentive plan, as well as non-legal professional matters such as accounting, finance, and auditing. The Firm's quotations of relevant financial data or conclusions in this legal opinion shall not be deemed as any express or implied guarantee by the Firm as to the authenticity and accuracy of these data and conclusions.
(6) Our lawyers have not authorized any unit or individual to make any interpretation or explanation of this legal opinion.
(7) This legal opinion is only used by the company for the purpose of implementing this vesting and invalidation, and may not be used for any other purpose.
Guoco Law Firm (Shanghai) Legal Opinion
Section 2 Text of Legal Opinion
1. Approval and authorization of this ownership and cancellation
- On September 14, 2023, the company held the fourth meeting of the third board of directors, which reviewed and approved the "Proposal on the Company's 2023 Restricted Stock Incentive Plan (Draft)" and its Summary, the "Proposal on the Company's <2023 Restricted Stock Incentive Plan Implementation Assessment and Management Measures>", the "Proposal on Submitting to the Company's General Meeting of Shareholders to Authorize the Board of Directors to Handle Matters Related to the Company's 2023 Restricted Stock Incentive Plan" and other relevant proposals. There are directors who are intended to be incentive targets in the target list of this incentive plan. The relevant directors have abstained from voting on the relevant proposals, and there are no other directors who are related to the incentive targets.
On the same day, the company's independent directors issued the "Independent Opinions of the Independent Directors of Jiangsu Hao'oubo Biopharmaceutical Co., Ltd. on Matters Related to the Fourth Meeting of the Company's Third Board of Directors." The independent directors unanimously agreed that the company should implement this incentive plan and agreed to submit relevant proposals for this incentive plan to the company's shareholders' meeting for review.
- On September 14, 2023, the company held the fourth meeting of the third board of supervisors, and reviewed and approved the "Proposal on the Company's <2023 Restricted Stock Incentive Plan (Draft)> and its Summary", "Proposal on the Company's <2023 Restricted Stock Incentive Plan Implementation Assessment and Management Measures>" and "Proposal on Verifying the Company's <List of Partial Incentive Objects First Granted to the 2023 Restricted Stock Incentive Plan>".
On the same day, the company's board of supervisors issued the "Verification Opinions of the Board of Supervisors of Jiangsu Haooubo Biopharmaceutical Co., Ltd. on the Company's 2023 Restricted Stock Incentive Plan (Draft)", and the company's board of supervisors agreed to implement this incentive plan.
On September 15, 2023, the company disclosed the "List of Partial Incentive Objects First Granted under the 2023 Restricted Stock Incentive Plan of Jiangsu Haooubo Biopharmaceutical Co., Ltd." on the Shanghai Stock Exchange website (http://www.sse.com.cn). From September 15, 2023 to September 24, 2023, the names and positions of the incentive objects first awarded under this incentive plan were publicized within the company. As of the expiration of the publicity period, the company's Board of Supervisors has not received any objections from anyone regarding the proposed incentives.
On September 26, 2023, the company disclosed on the Shanghai Stock Exchange website (http://www.sse.com.cn) the "Supervisory Board of Jiangsu Haooubo Biopharmaceutical Co., Ltd. Regarding the Company's 2023 "Explanation on the Publicity and Verification Opinions of the List of Partial Incentive Objects First Granted to the Restricted Stock Incentive Plan in 2018", the company's Board of Supervisors believes that the persons included in the list of partial incentive objects first granted to this incentive plan meet the conditions stipulated in relevant laws, regulations and normative documents, and meet the conditions for incentive objects stipulated in the "Stock Incentive Plan (Draft)", and its legal opinion letter from Guoco Law Firm (Shanghai)
The incentive objects of this incentive plan are legal and valid.
On October 9, 2023, the company held the second extraordinary general meeting of shareholders in 2023, which reviewed and approved the "Proposal on the Company's 2023 Restricted Stock Incentive Plan (Draft)" and its Summary, the "Proposal on the Implementation Assessment and Management Measures for the Company's 2023 Restricted Stock Incentive Plan" and "Requesting the Company's General Meeting of Shareholders to Authorize the Board of Directors to Handle the Company's 2023 Restricted Stock Incentive Plan" "Proposal on Matters Related to the 2018 Restricted Stock Incentive Plan", agreeing to authorize the board of directors to determine the qualifications and conditions for incentive targets to participate in this incentive plan, determine the grant date of this incentive plan and other necessary matters. The company's independent director Xiao Qiang, as the solicitor, has publicly solicited proxy voting rights from the company's A-share shareholders during the notice stage of the shareholders' meeting regarding the above-mentioned relevant proposals.
On October 9, 2023, the company held the fifth meeting of the third board of directors, and reviewed and approved the "Proposal on the First Grant of Restricted Stocks to Incentive Objects". There are directors who are intended to be incentive targets in the target list of this incentive plan. The relevant directors have abstained from voting on the relevant proposals, and there are no other directors who are related to the incentive targets.
On the same day, the company's independent directors issued the "Independent Opinions of the Independent Directors of Jiangsu Haooubo Biopharmaceutical Co., Ltd. on Matters Related to the Fifth Meeting of the Company's Third Board of Directors" and expressed their independent opinions on the "Proposal on the First Grant of Restricted Stocks to Incentive Objects" agreeing to the grant.
- On October 9, 2023, the company held the fifth meeting of the third board of supervisors, and reviewed and approved the "Proposal on the First Grant of Restricted Stocks to Incentive Objects".
On the same day, the company's board of supervisors issued the "Verification Opinions of the Board of Supervisors of Jiangsu Hao'oubo Biopharmaceutical Co., Ltd. on the List of Partial Incentive Objects for the First Grant of the Company's 2023 Restricted Stock Incentive Plan (as of the Grant Date)".
- On April 9, 2025, the company held the 19th meeting of the third board of directors and the 16th meeting of the third board of supervisors, and reviewed and approved the "Proposal on Voiding Part of the Restricted Stocks that have been granted but have not yet vested", the "Proposal on Adjusting the First Grant Price of the 2023 Restricted Stock Incentive Plan" and the "Proposal on the First vesting period of the first vesting period for some of the second category incentive objects under the 2023 Restricted Stock Incentive Plan to meet the vesting conditions."
On the same day, the company's board of supervisors issued the "Verification Opinions of the Board of Supervisors of Jiangsu Hao'oubo Biopharmaceutical Co., Ltd. on the vesting list of the first vesting period for some second-category incentive objects granted to some of the second-category incentive objects for the first time in the company's 2023 restricted stock incentive plan"
On June 11, 2025, the company held the 23rd meeting of the third board of directors and the 18th meeting of the third board of supervisors, and reviewed and approved the "Proposal on Adjusting the Price of the First Guoco Law Firm (Shanghai) Legal Opinion Grant for the Company's 2023 Restricted Stock Incentive Plan".
On April 8, 2026, the company held the second meeting of the Compensation and Appraisal Committee in 2026, and reviewed and approved the "Proposal on Canceling the Partial Restricted Stocks Granted to the Company's 2023 Restricted Stock Incentive Plan that have not yet vested" and the "Proposal on the First Grant of the Company's 2023 Restricted Stock Incentive Plan to Part of the First Class Incentive Objects that Meet the vesting conditions in the first vesting period." On the same day, the company's Remuneration and Assessment Committee issued the "Verification Opinions of the Remuneration and Assessment Committee of the Board of Directors of Jiangsu Haooubo Biopharmaceutical Co., Ltd. on the vesting list of the first vesting period for the first vesting period of some first-class incentive objects granted to the company's 2023 restricted stock incentive plan."
On April 9, 2026, the company held the 30th meeting of the third session of the Board of Directors, and reviewed and approved the "Proposal on the Canceling of Part of the Restricted Stocks Granted to the Company's 2023 Restricted Stock Incentive Plan that has not yet vested" and the "Proposal on the First Grant of the Company's 2023 Restricted Stock Incentive Plan to Part of the First Class Incentive Objects that Meet the Vesting Conditions in the First Vesting Period."
In summary, after verification, our lawyers believe that as of the date of issuance of this legal opinion, the necessary approvals and authorizations have been obtained for this vesting and invalidation at this stage, and are in compliance with relevant laws, regulations and normative documents such as the Company Law, Securities Law, and Management Measures, as well as the relevant provisions of the Articles of Association and the Stock Incentive Plan (Draft).
2. Information related to this ownership
(1) The vesting period of this vesting
According to the provisions of the "Stock Incentive Plan (Draft)", the first vesting period for the first category of incentive objects with restricted stocks granted under this incentive plan is "from the first trading day 30 months after the date of grant of the corresponding batch to the last trading day within 42 months from the date of grant of the corresponding batch", and the vesting ratio is 50% of the total number of restricted stocks granted in the corresponding batch.
The first grant date of this incentive plan is October 9, 2023. Therefore, the restricted stocks granted to the first category of incentive objects under this incentive plan for the first time will enter the first vesting period on April 9, 2026.
(2) Conditions and achievements of this vesting
According to the provisions of the "Stock Incentive Plan (Draft)", after verification by our lawyers, the vesting conditions for the first vesting period of the first category of restricted stocks granted to the incentive objects under this incentive plan for the first time have been met. The details are as follows: Guoco Law Firm (Shanghai) Legal Opinion
Belonging Conditions Conditional Achievement Description
(1) The company has not experienced any of the following situations:
① The financial accounting report for the most recent fiscal year has been issued a negative opinion by a certified public accountant
Audit report in which no opinion is available or in which an opinion cannot be expressed;
② Whether the internal control of the financial report for the most recent fiscal year has been issued by a certified public accountant. Based on the company's explanation and the firm's opinion or disclaimer of opinion, the auditor's report has been verified; ③ The company has not failed to comply with laws, regulations, articles of association, and public disclosures in the last 36 months after listing, and it meets the vesting conditions. Promise to distribute profits;
④ Equity incentives are not allowed according to laws and regulations;
⑤ Other circumstances determined by the China Securities Regulatory Commission.
(2) None of the following situations occurs to the incentive objects:
①Have been deemed as an unsuitable candidate by the stock exchange in the last 12 months;
② Determined as inappropriate by the China Securities Regulatory Commission and its dispatched agencies within the last 12 months
candidate;
Based on the confirmation of the incentive objects and verification by the China Securities Regulatory Commission and its lawyers for major violations of laws and regulations in the past 12 months, it is planned to impose institutional administrative penalties or adopt market ban measures this time; the incentive objects to be vested have not experienced the above-mentioned circumstances and meet the vesting conditions. ④ Those who have the provisions of the "Company Law" are not allowed to serve as company directors or senior managers
situation;
⑤ Laws and regulations stipulate that you are not allowed to participate in equity incentives of listed companies;
⑥Other circumstances determined by the China Securities Regulatory Commission.
According to the company’s instructions and the requirements of the Exchange (3) vesting period and tenure period
The lawyer verified that each batch of restricted stocks planned to be granted to the incentive objects this time must be completed for 12 months before vesting.
The incentive objects belong to those who have a term of office exceeding the term of office.
Limited requirements.
According to the company-level performance appraisal requirements of Lixin Accounting Firm (4)
(Special General Partnership) Issued by First Grant First Vesting Period:
"Jiangsu Haooubo Biopharmaceutical Stock Performance Assessment Objective A: The company needs to meet one of the following two conditions: 1. 2023-2024 limited company audit report and fiscal year 2-year average operating income growth rate in 2022 is not less than 40%; 2. 2023-2024 2-year average net profit growth rate from 2022 to 2023 The growth rate as of December 31 shall not be less than 30%. (Expiration Date: 2024-2024) Hao'aobo Biopharmaceutical Co., Ltd. 19%; 2. The average net profit for the two years from 2023 to 2024 will be increased by no less than 9% compared to the net profit in 2022. The company's audit report and financial statements. (January 1, 2024 to December 31, 2024)》The corresponding company-level vesting ratio in each assessment year is M, and M takes the following M1
(Which is the higher value in the letter [2025] and M2
ZA10173) and the company’s assessment has been completed. The estimated value of the company-level ownership ratio has been confirmed. The company’s 2-year assessment indicators for 2023-2024
Level of achievement (M1) The average operating income growth rate compared to the operating income in 2022 is X<B 0%
Actual increase in net profit
B ≤
The net profit growth rate in 2022 is the assessment indicator. The estimated value of the company-level ownership ratio after the assessment is completed.
1.00%, 2024 corporate level Guoco Law Firm (Shanghai) Legal Opinion
Belonging Conditions Conditional Achievement Description
Degree of achievement (M2) The performance meets the performance appraisal target value B, and the company-level vesting ratio is Y<B 0%
Operating income actual 62.71%.
B≤Y<A 50%+(Y-B)/(A-B)×50%
Growth rate (Y)
Y≥A 100%
Note: The above "net profit" and "operating income" are based on the accountants hired by the company.
The data contained in the consolidated statements audited by the firm shall prevail, in which "net profit" shall be based on the attribution
The calculation basis is based on the net profit of shareholders of listed companies, the same below.
(5) Individual-level performance appraisal requirements
According to the company's instructions and through the individual-level performance appraisal of all incentive recipients of the firm, the company's current relevant regulations
The lawyer verified that the company organized and implemented this incentive, and determined the actual ownership of the shares based on the assessment results of the incentive objects.
The number of restricted stock shares initially granted under the plan. The performance appraisal results of incentive targets are divided into excellent, good, qualified,
Among the 6 first-category incentive targets: four levels of unqualified, and the assessment and evaluation form is applicable to the assessment targets. At that time, according to the
The table determines the actual number of shares vested in the incentive object:
(1) If one incentive target resigns, the company will invalidate the 40,000 assessment rating awarded to him. Individual-level vesting ratio (N)
shares of restricted stock;
Excellent, good 100%
(2) Among the remaining 5 qualified 50% incentive objects that can be vested this time, 4 incentive objects are unqualified 0%. If the personal performance assessment result in 2024 is "good", if the company-level performance assessment indicators at the individual level in this period meet the standards, the actual vesting limit of the incentive objects that year will be
The vesting ratio is 100%; the number of incentive stocks per person = the number of individuals planned to vest in the current year × the company-level vesting ratio
Individual performance test examples of incentive objects in 2024 (M) × individual-level vesting ratio (N).
The verification result is "qualified", and the restricted stocks vested in the current plan of the current individual incentive target cannot be vested due to assessment reasons or
The level ownership ratio is 50%.
If it cannot be fully vested, it will become invalid and cannot be deferred to subsequent years.
(3) Specific circumstances of this ownership
First grant date: October 9, 2023;
Number of vested shares: 38,881 shares;
Number of people belonging to the group: 5 people;
Adjusted grant price: 15.23 yuan/share;
Source of stock: A-share ordinary shares issued by the company to incentive targets;
List of incentive targets and their ownership status:
Vestable The vestable number accounts for the number of restricted shares that have been granted.
Serial number Name Nationality Position Quantity Number of restricted votes granted (10,000 shares)
(Share) Proportion of total stock volume Xiaobing Core Technology
1 United Kingdom 6.00 18,813 31.36%
People
Technical (business) key personnel (4 people) 8.90 20,068 22.55%
Total number of restricted shares granted for the first time 14.90 38,881 26.09%
Note 1: The above table does not include restricted stocks of incentive targets who have resigned.
Guoco Law Firm (Shanghai) Legal Opinion
Note 2: If the total number of the values in the above table does not match the sum of the sub-items, it is due to rounding.
To sum up, our lawyers believe that as of the date of issuance of this legal opinion, the vesting conditions for the first vesting period of the first category of incentive objects granted to some restricted stocks under this incentive plan have been met, and the relevant vesting arrangements are in compliance with the relevant provisions of the "Administrative Measures" and the "Stock Incentive Plan (Draft)".
3. Information related to this cancellation
According to the "Proposal on Abolition of Part of the Unvested Restricted Stocks Granted in the Company's 2023 Restricted Stock Incentive Plan" reviewed and approved at the 30th meeting of the third session of the Board of Directors, in view of:
(1) One of the first-class incentive targets granted some restricted stocks under the company’s incentive plan for the first time resigned due to personal reasons. The company’s board of directors decided to disqualify the above-mentioned incentive targets and invalidate the 40,000 restricted shares that had been granted but have not yet vested;
(2) According to the "Stock Incentive Plan (Draft)", the performance assessment target for the first vesting period of the first grant of restricted stocks A: The company needs to meet one of the following two conditions: 1. The two-year average operating income from 2023 to 2024 shall be a fixed ratio of operating income growth rate of not less than 40% in 2022; 2. The two-year average net profit from 2023 to 2024 shall be a fixed ratio of net profit growth rate of not less than 30% in 2022. Performance assessment objective B: The company needs to meet one of the following two conditions: 1. The average operating income growth rate for the two years from 2023 to 2024 is not less than 19% in 2022; 2. The average net profit growth rate for the two years from 2023 to 2024 is not less than 9% in 2022. According to the standard unqualified audit report issued by Shu Lun Accounting Firm (Special General Partnership) for the company's 2023 and 2024 financial reports and the company's confirmation, the company's 2-year average revenue from 2023 to 2024 is 2022, the operating income growth rate is 24.34%, and the 2-year average net profit from 2023 to 2024 is 2022. The annual net profit growth rate is 1.00%, meeting performance assessment objective B. According to the relevant provisions of this incentive plan, the company-level vesting ratio of the first vesting period of the restricted stocks granted for the first time is 62.71%.
According to the "Stock Incentive Plan (Draft)", the performance assessment target for the second vesting period of the first grant of restricted stocks A: The company needs to meet one of the following two conditions: 1. The operating income growth rate in 2025 is not less than 87% in 2022; 2. The net profit growth rate in 2025 is not less than 72% in 2022. Performance assessment objective B: The company needs to meet one of the following two conditions: 1. The fixed ratio of operating income in 2025 and the operating income growth rate in 2022 shall not be less than 40%; 2. The fixed ratio of net profit value in 2025 and the net profit growth rate in 2022 shall not be less than 29%. According to the standard unqualified audit report issued by Ernst & Young Hua Ming LLP for the company's 2025 financial report, the company's operating income growth rate in 2025 is 24.35% compared to 2022; 2. The net profit growth rate in 2025 compared to 2022 is -44.30%, Guoco Law Firm (Shanghai) Legal Opinion
If the performance assessment objective B is not met, according to the relevant provisions of this incentive plan, the company-level vesting ratio of the first granted restricted stock in the second vesting period will be 0%.
At the same time, this incentive plan is awarded for the first time to one of the first category incentive objects whose personal performance assessment result in 2024 is "qualified", and the individual-level vesting ratio for this period is 50%.
The company plans to invalidate a total of 810,619 restricted shares that have been granted to the above incentive targets but do not meet the vesting conditions.
Based on the above two items (1) and (2), the total number of restricted shares canceled this time is 850,619 shares. After verification, our lawyers believe that the company's cancellation of some of the restricted stocks that have been granted but have not yet vested complies with the relevant provisions of the "Administrative Measures" and the "Stock Incentive Plan (Draft)".
4. Concluding observations
To sum up, our lawyers believe that as of the date of issuance of this legal opinion, the company's current vesting and invalidation have obtained the necessary approvals and authorizations at this stage, and are in compliance with the "Company Law", "Securities Law", "Administrative Measures" and other relevant laws, regulations, normative documents, as well as the relevant provisions of the "Articles of Association" and "Stock Incentive Plan (Draft)"; this incentive plan The vesting conditions for the first vesting period of the first category of incentive objects granted to some restricted stocks for the first time have been met, and the relevant vesting arrangements are in compliance with the relevant provisions of the "Administrative Measures" and the "Stock Incentive Plan (Draft)"; the cancellation of part of the restricted stocks that have been granted but not yet vested is in compliance with the relevant provisions of the "Administrative Measures" and the "Stock Incentive Plan (Draft)".
(No text below)
Guoco Law Firm (Shanghai) Legal Opinion
Section 3 Signature Page
(This page has no text, but is the signature page of the "Legal Opinion of Guoco Law Firm (Shanghai) on matters related to the first vesting conditions of the first vesting period granted to some Category 1 incentive objects in the 2023 Restricted Stock Incentive Plan of Jiangsu Haooubo Biopharmaceutical Co., Ltd. and the invalidation of some restricted stocks")
This legal opinion is issued on January 1, 2026. The original is in triplicate and there are no copies.
Guoco Law Firm (Shanghai)
Person in charge: Handling lawyer:
Xu Chen Chen Xiaochun
Li Jiayan