Shanshan Holdings cancels 3,983,305 restricted shares

Ningbo Shanshan (SSE:600884) will cancel 3,983,305 restricted shares on May 27, 2025, previously issued under its 2022 equity incentive plan. The cancellation is due to the failure to meet the third vesting period's performance targets, impacting 3,773,605 shares priced at CNY 13.26 each, and the departure of employees holding 209,700 shares, also priced at CNY 13.26. The company has completed required procedures, including notifying creditors, and confirmed no objections from relevant stakeholders. Post-cancellation, 3,773,605 restricted shares remain under the equity incentive plan.