Chaowei Power grants 28.6m share options to directors and employees

Chaowei Power Holdings Limited announced on December 19, 2025, the grant of 28,600,000 share options to its directors and other employee participants under the 2023 Share Option Scheme. This grant represents approximately 2.59% of the total shares in issue, excluding treasury shares. The exercise price for these options is HK$1.396 per share, which matches the average closing price of the shares for the five business days immediately preceding the grant date. The closing price of the shares on the date of grant was HK$1.38 per share.

Of the total options, 2,350,000 were granted to directors and the chief executive officer, including 300,000 options each to Zhou Mingming, Zhou Longrui, Yang Yunfei, Yang Xinxin, and Fang Jianjun. The remaining 26,250,000 options were granted to employee participants. The options will vest over three years, with 10% vesting on December 19, 2026, 20% on December 19, 2027, and 70% on December 19, 2028.

The vesting for employee participants is conditional on achieving individual annual performance targets, while director grantees have no specific performance targets attached, recognizing their past contributions and commitment to the company. Following this grant, the number of shares available for future grants under the Scheme Mandate Limit is 48,137,697, with 22,082,539 shares available under the Service Provider Sublimit.