Ecovacs adjusts convertible bond price following equity incentives

Ecovacs Robotics announced an adjustment to the conversion price of its "Ecovacs convertible bonds" from CNY 174.43 per share to CNY 173.81 per share, effective October 14, 2025. This change follows the exercise of stock options under the company's 2024 Stock Option and Restricted Stock Incentive Plan. The bonds will be temporarily suspended from conversion on October 13, 2025, resuming on October 14, 2025.

Between September 20 and September 30, 2025, participants in the 2024 incentive plan exercised 2,506,028 stock options at an exercise price of CNY 31.86 per share, generating gross proceeds of CNY 79,842,052.08 for working capital. This exercise, along with other equity changes, increased the total share capital from 575,295,565 shares to 578,862,838 shares by September 30, 2025.

As of September 30, 2025, CNY 1,039,565,000 of convertible bonds remained outstanding, representing 99.9582% of the total issued amount. The company confirms these equity changes will not affect the controlling shareholder or actual control.