Shandong Bohui Paper approves employee stock plans, completes share purchases

Shandong Bohui Paper Industrial held the first unitholder meetings for both its Navigator and Striver Employee Stock Ownership Plans on September 24, 2025. During these meetings, unitholders approved the establishment of three-member management committees for each plan to oversee daily operations and exercise unitholder rights. Unitholders also agreed to irrevocably waive their shareholder proposal and voting rights for the shares held, retaining only income and dividend rights.

The company announced the completion of share purchases for both plans. As of September 25, 2025, the Navigator plan acquired 60,000,000 shares via block trade, representing 4.49% of the company's total share capital, at an average price of yuan 4.83 per share. Concurrently, the Striver plan purchased 40,030,021 shares, accounting for 2.99% of the total share capital, at an average price of yuan 4.88 per share.

All acquired shares for both plans will be subject to a 12-month lock-up period starting from September 26, 2025. Both plans committed that their combined share reductions will not exceed 1% of the company's total share capital within any 12-month period following the lock-up expiry.