Jack Technology board approves restricted stock unlocking

Jack Technology’s board of directors approved the fulfillment of conditions for the first unlocking period of the 2023 restricted stock incentive plan's reserved grant portion. This decision, following a review by the nomination and remuneration committee and the supervisory board, allows for the release of 247,500 restricted shares.

The unlocked shares, representing 0.05% of the company's current total share capital, are scheduled to commence trading on September 25, 2025. This unlocking pertains to 38 core employees whose individual performance appraisals were rated A or B. The company's 2024 operating cash flow of yuan 1,128.8531m and net profit margin of 14.13% also met the performance targets for the first unlocking period.

Beijing Guofeng Law Firm confirmed that the unlocking procedures comply with relevant regulations, and the conditions stipulated in the incentive plan have been met. Shanghai Rongzheng Enterprise Consulting Services (Group) Co., Ltd., acting as independent financial advisor, also affirmed that the unlocking meets all regulatory requirements and does not harm the interests of the company or its shareholders.