Lingyuan Iron & Steel completes restricted stock grant, impacts share structure

Lingyuan Iron & Steel Co., Ltd. announced the successful completion of the reserved grant under its 2024 restricted stock incentive plan. On August 12, 2025, the board approved the grant of 5.31 million restricted shares to 96 eligible incentive recipients at a price of 1.00 yuan per share. The company has received 5,310,000.00 yuan in total from these subscriptions, as confirmed by a verification report issued by Lixin Certified Public Accountants (Special General Partnership) on September 29, 2025.

The shares for this grant originated from A-share ordinary shares repurchased by the company from the secondary market. This will see 5.31 million shares transition from unrestricted to restricted circulation. As a result, the number of restricted shares will increase from 32.98 million to 38.29 million, while unrestricted shares will decrease from 2,819.2 million to 2,813.9 million. The total share capital remains unchanged at 2,852.18 million shares.

The company is currently processing the registration of these restricted shares with China Securities Depository and Clearing Corporation Limited Shanghai Branch and will fulfill its ongoing information disclosure obligations.