Xiamen Xiangyu adjusts 2025 restricted stock incentive plan

Xiamen Xiangyu announced adjustments to its 2025 Restricted Stock Incentive Plan, reducing the number of eligible participants from 991 to 928 due to 63 voluntary withdrawals. Consequently, the total number of restricted shares to be granted was adjusted from 172,876,000 shares to 171,992,000 shares. These changes were approved by the board and supervisory board on September 4, 2025.

Additionally, the grant price for the restricted shares was adjusted from yuan 2.96 per share to yuan 2.71 per share. This adjustment follows a cash dividend distribution of yuan 2.50 per 10 shares approved at the company's 2024 annual general meeting, in accordance with the incentive plan’s terms for handling cash dividends. The board determined September 4, 2025, as the grant date.

The independent financial advisor and legal counsel confirmed that the adjustments and grant procedures comply with relevant regulations and that the incentive plan's granting conditions have been met. The company anticipates a total incentive cost of yuan 798,042,900 for the 171,992,000 restricted shares, to be expensed over several years from 2025 to 2029.