The controlling shareholder of Shangneng Electric has pledged not to reduce their holdings or lock their shares for a specific period.

On September 23, 2025, Shangneng Electric announced that the company plans to issue A-shares to specific entities, with Wu Qiang's consistent action person, Shao Hong Investment, and partner issuing a "Letter of Commitment". Shao Hong Investment commits not to reduce its holdings of the company's shares or any shares generated from distribution of related rights in any form within six months before the pricing benchmark date of this issuance and within six months after the issuance is completed. If the commitment is violated, the profits will belong to the company and take responsibility. In addition, Shao Hong Investment/Wu Chao, Duan Yuhe promise that if this subscription results in an increase in Wu Qiang's shareholding ratio, they will not transfer the company shares held before the issuance for 18 months from the end of the issuance, and the related increased holdings will also follow the lock-up agreement and be executed according to the latest policy adjustments.