Hundsun Technologies cancels stock options after missed deadlines

Beijing Guantao (Hangzhou) Law Firm has issued a legal opinion confirming Hundsun Technologies Inc.'s decision to cancel 5,412,638 stock options from its 2023 incentive plan. The cancellation, approved by the company's ninth board of directors and supervisory board, stems from 1,410 incentive recipients failing to exercise their options during the first vesting period, which concluded on September 11, 2025.

This action aligns with the company's 2023 stock option incentive plan, which stipulates that unexercised options at the end of each vesting period are to be terminated. The legal opinion confirms that all necessary approvals and authorizations have been obtained for this cancellation, and it complies with regulatory measures and the incentive plan.

Prior adjustments to the plan included a modification of the exercise price. Following the 2024 annual equity distribution, the exercise price was adjusted from 39.31 yuan per share to 39.21 yuan per share. These actions underscore Hundsun Technologies' adherence to its incentive program's terms and regulatory requirements.