Neway Valve unlocks restricted stock, acquires subsidiary, adjusts capital

Neway Valve (Suzhou) Co., Ltd. confirmed 112 incentive recipients are eligible to unlock 3,227,538 restricted shares, representing 0.42% of the company's total share capital. This follows the achievement of performance targets and individual assessments for the second unlocking period. Most recipients received an "A" rating (100% unlock), with some achieving a "B" rating (90% unlock). Additionally, 243,228 restricted shares will be repurchased and canceled due to recipients' departures and performance.

The company also announced the acquisition of the remaining 40% equity in its subsidiary, Wujiang Dongwu Machinery Co., Ltd., for 139,000,000 yuan, raising its ownership to 100%. This acquisition will be funded through Neway Valve's own capital. The repurchase price for the restricted shares will be adjusted to 4.62 yuan per share, down from 7.33 yuan per share, reflecting the impact of profit distribution plans from 2023 to 2025.

The company's registered capital will decrease from 775,596,927 yuan to 775,282,899 yuan as a result of the share repurchases and cancellations. These actions have been approved by the board of directors and board of supervisors and will be submitted for shareholder approval.