Flat Glass Group terminates 2021 share option incentive scheme

Flat Glass Group Co announced the termination of its 2021 A Share Option Incentive Scheme and the cancellation of associated share options. The decision, made during the sixth meeting of the seventh session of the Board and the fourth meeting of the seventh session of the Supervisory Committee on April 29, 2025, comes as a result of substantial changes in the internal and external environment since the Scheme's formulation. The Board concluded that continuing the Scheme would not effectively achieve the expected incentive goals, and proposed the termination to better motivate employees and protect the interests of the company and its shareholders. Consequently, 3,147,284 share options under the Scheme will be cancelled, pending approval at the general meeting. The company is compliant with all regulations and normative documents in its action. The company plans to review and adopt alternative option incentive schemes within three months of general meeting approval, but cannot do so until that has occurred. A review of the company's first quarter financial results showed a revenue of RMB4,079,288,887.46, which is a 28.76% decrease year-over-year. The Board also noted a decrease to net profits attributable to equity owners of the company (86.03%).