UCloud Technology announces share buyback, restricted stock plan

UCloud Technology Co., Ltd. has announced a share repurchase program through centralized bidding transactions, with a total value not less than 8m yuan and not exceeding 10m yuan, to be used for equity incentives or employee stock ownership plans. The repurchase price will not exceed 40.33 yuan per share, and the program is expected to be completed within six months of shareholder approval. This initiative aims to maintain market confidence and support the company's long-term development.

Concurrently, UCloud Technology has unveiled its 2025 Restricted Stock Incentive Plan (Draft), proposing to grant 1.82m restricted shares, representing 0.40% of the company's total share capital. The initial grant covers 1.505m shares to 18 technical and business backbone employees at an exercise price of 22 yuan per share. The plan includes performance targets based on net profit growth for 2025 and 2026, building upon the 2024 net profit as a base.

In a move to optimize governance, the company will cancel its supervisory board and revise its articles of association, transferring supervisory functions to the audit committee. Additionally, the chief financial officer, Gui Shuifa, has resigned due to personal reasons, with his departure not impacting company operations. These strategic actions reflect UCloud Technology's commitment to robust governance and sustained growth.