Hainan Mining adjusts performance targets, raises board size, revises buyback price

Hainan Mining Company Limited's board of directors approved adjustments to its 2024 restricted stock incentive plan, specifically altering the company-level performance assessment indicators for 2026 and 2027. The change moves from "lithium hydroxide production" to "lithium salt (lithium hydroxide, lithium carbonate) production," reflecting the company's strategic shift to a more diversified lithium product structure after completing its lithium hydroxide project and planning a carbonization production line. This adjustment aims to enhance flexibility in downstream markets and optimize economic efficiency.

Concurrently, the company increased its board of directors from 11 to 13 members to align with strategic planning, business expansion, and internal governance needs. This revision necessitates amendments to the company's articles of association and board of directors rules of procedure, which will be submitted for shareholder approval. Furthermore, Hainan Mining revised the maximum repurchase price for its ongoing share buyback program from CNY 10.01 per share to CNY 14.26 per share. This adjustment, based on market conditions and the company's confidence in its future development, aims to facilitate the successful implementation of the buyback, ensuring effective value preservation for shareholders.