Kingfa Sci.&Tech. to unlock 37m restricted shares

Kingfa Sci.&Tech. will see 37,600,462 restricted shares, accounting for 1.43% of its total share capital, become tradable on September 29, 2025. This release includes shares from the third unvesting period of the initial grant and the second unvesting period of the reserved grant under its 2022 restricted stock incentive plan.

The unvesting conditions for both tranches have been met. The company's 2024 audited operating income of 60,514,242,141.65 yuan, a 50.54% increase from 2021, surpassed the performance target. Additionally, individual performance assessments for 1,568 eligible incentive participants were successful, with 1,537 employees achieving a "C" rating or higher, making their shares eligible for unlocking.

The total number of unlocked shares for directors and senior management is 1,145,239, representing 40.11% of their initially granted restricted stock. Other incentive participants will unlock 36,455,223 shares, or 38.16% of their granted stock. This release reflects the successful fulfillment of the incentive plan's terms and conditions.