ADAMALtd.InsidersRegistrationManagementPolicy

（RevisedinDecember2025）Chapter1GeneralProvisionsArticle1TheInsidersRegistrationManagementPolicy(hereinafterreferredtoas“thePolicy”)isformulatedpursuanttotheCompanyLawofPRC,theSecuritiesLawofPRC(hereinafterabbreviatedastheSecuritiesLaw),theManagementMeasuresofInformationDisclosureofListedCompanies,theStockListingRulesofShenzhenStockExchange,SupervisoryGuidelinesofListedCompaniesNo.5–PolicyforRegistrationofInsidersofListedCompanies,theSelf-regulatorySupervisionGuidelinesofShenzhenStockExchangeNo.5–ManagementofInformationDisclosure,andotherrelevantlaws,regulations,regulatorydocumentsaswellasrelevantprovisionsoftheArticlesofAssociationofADAMALtd.(hereinafterreferredtoas"theAOA"),withaviewtoregulatetheInsiderInformationmanagementofADAMALtd.(hereinafterreferredtoas“theCompany”),strengthentheconfidentialityofinsiderinformationandcomplywiththeprincipleoffairnessforinformationdisclosure.Article2AsthebodyresponsibleforthemanagementofInsiderInformation,theboardofdirectorsoftheCompanyshouldensurethatthearchivesofInsidersaretrue,accurateandcomplete.TheChairmanoftheBoardshallbetheprimaryresponsiblepersonforthemanagementoftheCompany'sinsiderinformation.TheSecretaryoftheBoardshallberesponsiblefortheregistration,filingandreportingofInsiders.BoththeChairmanandtheSecretaryoftheboardshallsignawrittenconfirmationofthetruthfulness,accuracyandcompletenessoftheInsiders'archives.Article3ThedepartmentofsecuritiesandlegalaffairsoftheCompanyshallberesponsibleforthecomprehensivemanagement,registrationsummarization,disclosureanddailymanagementoftheinsiders’filing.Theheadsofotherdepartments,controlledsubsidiariesandholdingcompaniesthattheCompanycanexertsignificantinfluenceonshallberesponsiblefortheconfidentialityofInsiderInformationwithinthescopeoftheirmanagement,andshallberesponsibleforthereportingandtransmissionofInsiderInformationtotheSecretaryoftheBoardandthedepartmentofsecuritiesandlegalaffairs.Article4TheInsidersstipulatedbythePolicyshallkeeptheInsiderInformationconfidential,andshallnotdiscloseanyInsiderInformation,orengageininsidertrading,orcooperatewithotherstomanipulatethepriceofthetradingsecurities.

Chapter2ScopeofInsiderInformationArticle5Theterm"InsiderInformation"referredtointhisPolicyshallmeananyundisclosedinformationabouttheCompany'soperationsorfinancials,orinformationthatcouldmateriallyaffectthemarketpriceoftheCompany'ssharesorderivativesaccordingtotheSecuritiesLaw.“Undisclosedinformation”meansthattheCompanyhasnotyetformallydisclosedsuchinformationontheShenzhenStockExchangewebsiteoronmediaselectedbytheCompanythatmeettherequirementstipulatedbyCSRC.Article6InsiderInformationreferredtointhePolicyincludes,butisnotlimitedto:

(I)MaterialchangestotheCompany'sbusinessstrategiesandscope(II)MaterialinvestmentbytheCompanyorthepurchaseorsalebytheCompanyofsignificantassets,whichexceedthirtypercent(30%)ofthetotalassetsoftheCompanywithinone(1)year,orthemortgage,pledge,saleorscrappingofmajorassetsoftheCompanyexceedingthirtypercent(30%)ofsuchassetsforbusinesspurposesatonetime.(III)TheCompanysignssignificantcontractsorprovidesmaterialguaranteesorengagesinrelated-partytransactions,whichmayhaveasignificantimpactontheCompany'sassets,liabilities,equityandoperatingresults.(IV)TheCompanyincurredmaterialdebtsandfailedtosettlemajordebtsduetodefaultorincurredalargeamountofliability.(V)ThesufferingofmateriallossesbytheCompany(VI)MaterialchangesintheexternalconditionsoftheCompany'sproductionandoperation.

(VII)ChangesinthedirectorsoftheboardortheCEOoftheCompany;orinabilityoftheChairmanorCEOtoperformhis/herduties.

(VIII)Asubstantialchangetotheshareholdingofashareholderwhoholdsfivepercent(5%)ormoreoftheCompany'sshares,ortotheshareholdingproportionorcontroloverthecompanyofthepersonineffectivecontrol,orasubstantialchangetothebusinessoftheultimatecontrollerandotherenterprisesunderitscontrolwhichareengagedinthesameorsimilarbusinessastheCompany.

(IX)DecisionsmadebytheCompanytoreducecapital,merge,separate,dissolveorapplyforbankruptcy;orcommencementofbankruptcyproceedingsbytheCompanyortheorderofclosureinaccordancewiththelaw.

(X)MateriallitigationorarbitrationinvolvingtheCompany,andresolutionsoftheshareholders'meetingortheboardofdirectorsbeingrevokedordeclaredinvalidinaccordancewiththelaw.

(XI)InvestigationconductedagainsttheCompanyduetobeingsuspectedofcrimesorimpositionofanyenforcementmeasureinaccordancewiththelawagainstanyoftheCompany'scontrollingshareholders,ultimatecontrollers,directors,orseniorexecutivesoftheCompanyduetobeingsuspectedofcrimes.

(XII)AnyplanmadebytheCompanytodistributedividendsorincreasecapital.(XIII)MaterialchangestotheCompany'sshareholdingstructureorproductionandbusinessconditions.

(XIV)Thetransferofsharesheldbythecontrollingshareholderprohibitedbytherulingofanycourt;fivepercent(5%)ormoreoftheCompany'ssharesheldbyanyshareholderbeingpledged,frozen,judiciallyauctioned,heldincustody,placedintrust,orrestrictedinvotingrightsinaccordancewiththelaw,orforcedtransferofownership.

(XV)TheCompany'smainorallbusinesscomestoahalt;oritsmainassetsareseized,sequestered,frozen,oritsmainbankaccountsarefrozen.

(XVI)TheCompanyissuesnewsharesandbonds,initiatesequityincentiveplans,repurchasessharesandundertakesmajorassetrestructuring.

(XVII)Receivingadditionalincomethatsignificantlyimpactstheprofitorlossofthecurrentperiod,whichmayhaveamaterialimpactontheCompany'sassets,liabilities,equity,oroperatingresults.

(XVIII)ThecontentsoftheCompany'speriodicreports,financialstatements,performancepre-announcements,financialbriefingandprofitabilityforecastpriortotheirdisclosureinaccordancewiththelaw.

(XIX)OtherissuesprescribedbytheCSRCortheShenzhenStockExchangeorotherimportantinformationidentifiedtohaveasignificantimpactonthetradingpriceofsecurities.

Chapter3ScopeofInsidersArticle7"Insider/s"referredtointhePolicyshallmeananyrelatedpersonneloftheCompany,bothinternallyandexternally,whocandirectlyorindirectlyaccessandobtainInsiderInformationbeforethedisclosureofsuchInsiderInformation.Article8ThescopeoftheInsiderreferredtointhePolicyincludesbutisnotlimitedto:

(I)theCompany,itsdirectorsandseniorexecutives(II)shareholdersholding5%ormoreoftheCompany’ssharesandtheir

directors,supervisorsandseniorexecutives(III)theultimatecontrolleroftheCompanyanditsdirectors,supervisorsand

seniorexecutives(IV)companiescontrolledbytheCompanyorunderitseffectivecontroland

theirdirectors,supervisorsandseniorexecutives(V)personswhohaveaccesstoInsiderInformationabouttheCompany

becauseoftheirpositionsintheCompanyorbecauseoftheirbusiness

dealingswiththeCompany.(VI)theacquireroftheCompanyorthetradingpartytoamajorasset

transactionanditscontrollingshareholder,thepersoninultimatecontrol,

directors,supervisorsandseniorexecutives(VII)relevantpersonnelofsecuritiestradingvenues,securitiescompanies,

securitiesregistrationandsettlementinstitutionsandotherserviceinstitutionswhohaveaccesstoInsiderInformationbecauseoftheirpositionsandwork(VIII)staffofthesecuritiessupervisionandadministrationauthoritieswhocan

obtainInsiderInformationbecauseoftheirpositionsandwork(IX)staffofrelevantcompetentauthoritiesandregulatorybodieswhocan

obtainInsiderInformationbecauseoftheirstatutorydutiestomanagethe

issuanceandtradingofsecurities,theCompanyanditsacquisitionsand

majorassettransactions(X)otherpersonnelwhoareawareoftheCompany'srelevantInsider

Informationduetotheexistenceofrelativesorbusinessrelationswithany

ofthenaturalpersonsspecifiedinpreviousitems(XI)otherpersonswhocanobtainInsiderInformationasstipulatedbythe

CSRC.

Chapter4ConfidentialityManagementofInsiderInformationArticle9Priortotheformaldisclosureofinsiderinformation,thedirectorsoftheboard,seniorexecutivesandrelevantpersonnelshallkeepthenumberofpersonswhoareawareofsuchinformationtotheminimumnecessary,andshallproperlykeeptheinsiderinformationandensureitsconfidentiality.Article10WherevertheCompanyisrequiredtoprovideundisclosedinformationtoanyotherentitiesorindividuals,itshallreporttothedepartmentofsecuritiesandlegalaffairsforrecordbeforedoingso,andshouldconfirmthataconfidentialityagreementhasalreadybeensignedwiththem,orthattheyhavebeenformallynotifiedoftheirconfidentialityobligationsinwriting.Article11BeforethepublicdisclosureofInsiderInformationinaccordancewiththelaw,thecontrollingshareholderorultimatecontrolleroftheCompanyshallnotabuseitsrightsasashareholderordominantpositiontorequiretheCompanyanditsdirectorsandseniorexecutivestoprovideInsiderInformation.Article12TheInsidersshallhavetheobligationofconfidentiality.BeforethedisclosureoftheInsiderinformationinaccordancewiththelaw,theInsidersshallnotleak,reportortransmitthecontentofanyInsiderInformationtotheoutsideworld,orspreaditoutinanyform.Article13RelevantdepartmentsorrelatedpersonnelfrequentlyengagedinworkrelatedtoInsiderInformationshouldhavearelativelyindependentandseparateofficespaceandequipmentinthepremisethatsucharrangementistheinterestsofconfidentialityofInsiderInformationandfacilitatethework.

Chapter5TradingRestrictionsoverInsiders

Article14Personsawareofinsiderinformationshallnot,priortothelawfuldisclosureofsuchinformation,tradeintheCompany'ssharesoradviseotherstodosoonthebasisofthatinformation,norshalltheyusesuchinformationtoseekprofitforthemselves,theirrelatives,oranyotherperson.Article15PersonswithaccesstotheCompany'sundisclosedfinancialinformationshallnottradeinitsshareswithinfifteendayspriortotheannouncementoftheannualandhalf-yearlyreports,norwithinfivedayspriortotheannouncementofthequarterlyreport,performancepre-announcementandbriefings.Article16Personswithaccesstomaterialnon-republicinformationconcerningtheCompanyshallnottradeinitssharesfromthedateonwhichsuchmaterialnon-publiceventsariseorareinthedecision-makingprocessuntilthedateofitsformaldisclosureinaccordancewiththelaw.Article17BeforetradingintheCompany'ssharesandderivatives,apersonwithaccesstoInsiderInformationshallconsulttheSecretaryoftheBoardofdirectors.TheSecretaryoftheBoardofdirectorsshallverifytheprogressoftheCompany'sinformationdisclosureandmaterialmatters,etc.Ifsuchtradingmaybeinappropriate,theSecretaryoftheBoardofdirectorsshallpromptlynotifytheInsiderwhointendstomakethetradingandalerttherelevantrisks.Article18Relevantpersonsshalldeclarethefollowingtotheresponsiblepersonofeachdepartment,entityandtheSecretaryoftheBoardofdirectorsoftheCompanywithintwotradingdaysiftheybuyorsellsharesandderivativesoftheCompanyduringtheperiodwhentheyaretheInsiderofsomecertaininformation.(I)Thenumberofsharesheldbeforethischange.(II)Thedate,quantityandpriceofthecurrentsharechange.(III)Thenumberofsharesheldafterthechange.(IV)OtherexplanationsrequiredbytheCompany,suchasastatementthatno

Insidertradingisinvolved.Article19ThemanagementofthesharesoftheCompanyheldbyitsdirectorsandseniorexecutivesandthechangesthereofshallbegovernedbytheRulesGoverningtheSharesofListedCompaniesHeldbytheirDirectorsandSeniorExecutivesandtheCorrespondingChanges.

Chapter6RegistrationandFilingofInsidersArticle20PriortothepublicdisclosureofInsiderInformationpursuanttolaw,theCompanyshallfillinthearchivesonpersonsprivytoInsiderInformation(asattachedinAnnex1)inaccordancewiththeregulations.Itshallpromptlyrecordthelistofinsidersateachstage,includingdeliberationandplanning,consultationand

assessment,andcontractexecutionaswellasduringkeyproceduressuchasreporting,transmission,compilation,resolution,anddisclosure.Itshallalsodocumentthetime,location,basis,method,andcontentoftheirknowledgeoftheinsiderinformation.Insiderinformationknowersshallconfirmtherelevantrecords.Article21TheInsiderfilesshouldincludebutarenotlimitedtothename,position,IDcardnumber,employer,contentsoftheInsiderInformation,theaccess,manner,timeandplaceinwhichtheInsiderInformationbecameknown,registrationtime,etc..Article22WhentheCompanycarriesoutmajorassetrestructuring,highproportionofsharestransferred,equitychangesthatleadtothechangeintheultimatecontrollerorthelargestshareholder,tenderoffer,issuanceofsecurities,merger,division,spin-offlisting,sharerepurchase,annualreportandsemi-annualreport,equityincentivedraftandemployeeholdingplanandothermaterialmattersthatmayhaveamaterialimpactonthetradingpriceoftheCompany'ssharesandtheirderivativesasrequiredbytheCSRCorShenzhenStockExchange,theInsiderfileshallbemadeandsubmittedtoShenzhenStockExchange,andamemorandumontheprogressofmaterialeventsshallbemade(seeAnnex2).Thecontentsofthememorandumincludebutarenotlimitedtothetimeofeachkeypointintheplanninganddecision-makingprocess,thelistofparticipantsintheplanninganddecision-makingprocess,thewayofplanninganddecision-making,etc.TheCompanyshallurgethepersonnelrelevanttothememorandumtosignandconfirm.TheCompany'sshareholders,ultimatecontrollersandtheirrelatedpartiesandotherrelevantentitiesshallcooperateinthepreparationofthememorandum.Article23TheCompanyshalltimelysupplementandimprovethearchivesonpersonsprivytoInsiderInformationandtheinformationcontainedinthememorandumontheprogressofmaterialevents.TheInsiderarchivesandthememorandumontheprogressofmaterialeventsshallbekeptforatleast10yearsasofthedateofrecording(includingsupplementationandimprovement).Article24TheCompanyshall,withinfivetradingdaysaftertheInsiderInformationispubliclydisclosedaccordingtolaw,submittheInsiderarchivesandthememorandumontheprogressofmaterialeventstotheShenzhenStockExchange.WhereanymaterialchangeoccurstotherelevantmattersafterthedisclosureofmaterialeventsbytheCompany,itshalltimelysupplementandsubmittheInsiderarchivesandthememorandumontheprogressofmaterialevents.WhereabnormalfluctuationshavealreadyoccurredinthetradingoftheCompany’ssharesandderivativespriortothedisclosureofanymaterialevent,theCompanyshallsubmittherelevantinsiderinformationrecordstotheShenzhenStockExchange.Article25Thedirectors,seniorexecutivesandtheheadsofthedepartments,branches(subsidiaries)andholdingcompaniesthatcanexertmaterialinfluenceshallactively

cooperatewiththeCompanyinregisteringandfilingoftheInsiderandtimelyinformtheSecretaryoftheBoardoftheInsiderstatusandthechangesoftherelevantInsiders.Article26Theshareholders,ultimatecontrollersandtheirrelatedparties,acquirers,counterparties,otherpartiesrelatedtotheCompanywhomayhavematerialinfluenceonthepriceofitssecuritiestrading,securitiescompanies,accountingfirms,lawfirmsandotheragencystaffwhoknowsInsiderinformationshallactivelycooperatewiththeCompanyinthefilingofInsiders,andpromptlykeepitpostedabouttheInsiderwhoisawareoftheoccurrenceorproposedoccurrenceofanymaterialeventoftheCompanyaswellasthechangesoftheInsiderconcerned.Article27WheretheCompanyneedstosubmitinformationtotherelevantadministrativeauthorityonaregularbasisaccordingtotherequirementsofrelevantlaws,regulationsandpoliciesbeforedisclosure,itmay,providedthatthereisnomajorchangeinthecompetentauthorityorcontents,bedeemedasthesameInsiderInformation,andthenameoftheadministrativeauthorityshallberecordedinthesameform,andthetimeofsubmissionshallberecordedonanongoingbasis.Exceptfortheaforesaidcircumstances,whentheInsiderInformationiscirculatedtotheadministrativeauthority,theCompanyshall,onthebasisofoneentryforoneevent,recordintheInsiderarchivesthenameoftheadministrativeauthority,thereasonforaccesstotheInsiderInformationandthetimewhentheInsiderInformationisknown.

Chapter7AccountabilityArticle28TheCompanyshall,inaccordancewiththeprovisionsoftheCSRCandShenzhenStockExchange,conductself-inspectiononthetradingofitssecuritiesbypersonsprivytoInsiderInformation.IftheCompanydiscoversthatapersonprivytoInsiderInformationhasconductedinsidertrading,divulgedanyInsiderInformationorsuggestedanyotherpersontoconducttrading,itshallverifyandpursueaccountabilityoftherelevantpersonsaccordingtothePolicy.ThenwithintwotradingdaysitshallreporttherelevantinformationandthehandlingresultstotheHubeiSecuritiesRegulatoryBureauandtheShenzhenStockExchangeanddisclosetothepublicaccordinglyArticle29IfanyemployeeoftheCompanywholeakstheInsiderInformationtothepublicorusestheInsiderInformationforinsidertradingoradvisesotherstousetheInsiderInformationfortrading,etc.,causesseriousimpactorlosstotheCompany,theboardofdirectorsshall,inaccordancewiththeseverityofthecircumstancesandthelossandimpactcaused,givecriticism,warning,demerit,demotionofsalary,probation,dismissalofemploymentcontract,confiscationofillegalincome,etc.totherelevantresponsiblepersonnelandrequireappropriatecompensationaccordingly.ThesanctionsimposedbytheCSRC,theShenzhenStockExchangeandotherregulatoryauthoritiesshallnotaffectthesanctionsimposedbytheCompanyonthem.

Article30Thecompanyhastherighttopursuetheresponsibilityofshareholdersholding5%ormoreofitstotalsharesanditsultimatecontrollerwhoviolatethisRules,disclosetheinformationwithoutauthorizationandcauselossestotheCompany.Article31Ifthesponsors,securitiesserviceinstitutionsandtheirrelevantpersonnelwhoproduceandissuespecialdocumentssuchassecuritiesissuesponsorship,auditreport,assetevaluationreport,legalopinion,financialadvisoryreportandcreditratingreportfortheCompany'smaterialprojects,andtherelevantentitiesandpersonnelparticipatingintheconsultation,planninganddemonstrationoftheCompany'smajorprojectsdisclosetheinformationwithoutauthorizationinviolationofthePolicy,theCompanymay,dependingontheseverityofthecircumstances,cancelorterminatecontractsandithastherighttoholdthemaccountableforanylosscausedtoitself.Article32IftheInsiderviolatestheprovisionsofthisPolicyforinsidertradingorotherillegalactivitiesandispunishedbytheCompany,administrativeorjudicialinstitutions,theCompanywillreporttheresultsofthepunishmenttoHubeiSecuritiesRegulatoryBureauandShenzhenStockExchangefortherecordandatthesametimemakeanannouncementontheCompany'sdesignatedinformationdisclosuremedia.Article33AnyInsider,whoviolatestherelevantnationallawsandregulationsaswellastheprovisionsofthePolicy,usesInsiderInformationtomanipulatetheshareprice,causesseriousconsequencesandconstitutesacrime,willbetransferredtothejudicialauthorities,andthecriminalresponsibilitywillbeinvestigatedaccordingtolaw.

Chapter8SupplementaryProvisionsArticle34AnymattersnotcoveredbythePolicyshallbeexecutedinaccordancewiththerelevantlaws,regulations,regulatorydocuments,theAOAandotherrelevantprovisions.Article35ThePolicyshallbeformulated,interpretedandamendedbytheBoardofDirectorsoftheCompany.Article36ThePolicyshallbeeffectivefromthedateofreviewandapprovalbytheBoardofDirectors,replacingthe"ManagementRulesforRegistrationofInsider"passedattheNinthmeetingoftheNinthsessionoftheboardofdirectors.

BoardofDirectorsofADAMALtd.

December22

nd,2025

Annexes.

1.InsidersArchives

2.MemorandumontheProgressofMaterialEvents

Annex1:InsidersArchivesSecuritiesCode:Abbreviation:InsiderInformationItem:

No.

AbbreviatedNameoftheCompany:

SecuritiesCodeoftheCompany:

SignatureoftheLegalRepresentative:

StampoftheCompany:

Note:1.Theinsiderinformationmattersshouldbekeptinthewaythatonematterformsuponepieceofrecord,thatis,eachinsiderfileonly

involvesonematterofinsiderinformationanddifferentinsiderinformationmattersinvolvedinthefileshouldberecordedseparately.

2.Thewaystoknowtheinsiderinformation,suchasmeetings,telephone,fax,writtenreports,e-mail,etc.,shouldberecorded.

3.Whenfillingthecontentoftheinsiderinformation,toaddtheattachedpagefordetailedexplanationisallowed.

4.Theperiodatwhichtheinsiderinformationisinformed,suchasnegotiationandplanning,demonstrationandconsultation,contractformation,internalcompanyreport,transmission,preparation,resolution,etc.,shouldberecorded.

5.Ifitisalistedcompany,pleasefillinthenameoftheregistrantofthelistedcompany;ifitisasummaryforthelistedcompany,pleasekeepthenameoftheoriginalregistrantinthesummaryform.

Annex2

MemorandumontheProgressofMaterialEventsAbbreviationoftheCompany:

SecuritiesCode:

OverviewoftheRelevantMaterialEvent:

PlanningStage

Note:Allrelevantpersonnelshouldsigntoconfirmtheprocessmemorandumofthematerialevent.

SignatureoftheLegalRepresentative:

StampoftheCompany: