Fujian Longking finalizes registration for 2024 stock option grant

Fujian Longking Environmental Protection Co., Ltd. has completed the registration for its 2024 stock option incentive plan's reserved grant on September 18, 2025. The grant, approved by the board of directors and the board of supervisors on August 25, 2025, involves 3.6 million stock options to be distributed among 133 employees, primarily core management and key personnel. The exercise price for these options has been set at CNY11.95 per share.

The stock options have a maximum validity period of 60 months from the grant date, with a 24-month vesting period. Vesting will occur in three tranches: 30% in the first vesting period (24-36 months), 30% in the second (36-48 months), and 40% in the third (48-60 months). This structure aims to align employee incentives with the company's long-term performance.

The adjustment of the exercise price from CNY12.23 to CNY11.95 per share was made in accordance with the company's 2024 annual profit distribution plan, which included a cash dividend of CNY0.28 per share. This adjustment ensures the incentive plan remains fair and reflective of the company's capital structure changes.