Dawning Information cancels restricted shares due to staff departures

Dawning Information Industry announced it will repurchase and cancel 88,000 restricted shares previously granted to 11 employees who have since left the company. The move is in accordance with the company's 2021 restricted stock incentive plan, which stipulates that unvested shares be repurchased and canceled if an employee leaves the company. The cancellation is scheduled for June 20, 2025, and will reduce the number of restricted shares outstanding to 4,504,100. Dawning Information Industry confirmed that the repurchase and cancellation comply with all applicable laws and regulations and will not materially impact the company's operations or finances.