Jack Sewing Machine unlocks first tranche of 2023 restricted stock plan

Jack Sewing Machine Co., Ltd. (SSE:603337) has announced the achievement of the conditions for the first lifting of restrictions period of the reserved grant portion of its 2023 restricted stock incentive plan. The company's board of directors and supervisory board approved the resolution on September 18, 2025. This allows 38 eligible incentive recipients to unlock a total of 247,500 restricted shares, representing 0.05% of the company's current total share capital.

The unlocking was contingent on the company's 2024 operating cash flow reaching at least 1 billion yuan or a net profit margin of no less than 9.2%. For 2024, the company's operating cash flow was 11,288.531 million yuan, and the net profit margin was 14.13%, exceeding the set targets. Furthermore, all 38 incentive recipients achieved an "A" or "B" rating in their individual performance assessments, leading to a 100% unlocking ratio for this period.

The first lifting of restrictions period for these shares began 12 months after the registration date of the reserved grant, which was September 11, 2024. The company will issue a separate announcement regarding the listing of these unrestricted shares.