Suzhou HYC Technology terminates 2024 ESOP, launches new 2025 plan

Suzhou HYC Technology announced on September 24, 2025, the termination of its 2024 Employee Stock Ownership Plan. This decision follows the full vesting period of the 2024 ESOP on September 13, 2025, with all 888,000 shares remaining unvested according to an audit. The company will repurchase these unvested shares at a price of 12.00 yuan per share plus accrued bank interest, with the repurchase intended for implementing future employee stock ownership plans.

Concurrently, the company's board of directors, supervisory board, and employee representatives have approved a new 2025 Employee Stock Ownership Plan. This plan aims to enhance long-term incentive mechanisms, attract and retain talent, and promote sustainable company development. The 2025 ESOP will acquire up to 1.75 million shares from the company's repurchased A-share common stock, representing 0.39% of the current total share capital, with a purchase price of 15.49 yuan per share.

The 2025 ESOP has a total fundraising target of up to 27.1075m yuan, with each unit priced at 1.00 yuan. Participants will include directors, supervisors, senior management, core technical personnel, and middle management. The plan features a 48-month duration with a 12-month lock-up period, followed by one-time unlocking subject to performance targets. All related resolutions are subject to shareholder approval.