Jack Sewing Machine lifts share restrictions, adjusts repurchase price

Jack Sewing Machine Co., Ltd. announced the achievement of the second restricted period's lifting of restrictions for its 2023 restricted stock incentive plan. This affects 259 incentive recipients and 2,438,700 shares to be listed for circulation on November 24, 2025. This follows approvals from the Board of Directors, Supervisory Board, and Shareholders' Meeting throughout 2023 and 2025.

The company met performance targets for 2024, achieving a net operating cash flow of 1,128,853,100 yuan and a net profit margin of 14.13%, surpassing the conditions of 1,000,000,000 yuan and 9.2% respectively. Individual performance assessments for all eligible participants also met the criteria.

In connection with the incentive plan, the repurchase price for restricted shares has been adjusted due to cash dividends from 10.62 yuan per share to 9.32 yuan per share. This reflects distributions of 0.50 yuan per share (tax included) for 2023, 0.30 yuan per share (tax included) for the first half of 2024, and 0.50 yuan per share (tax included) for 2024. Additionally, 15,600 restricted shares held by two departed incentive recipients will be repurchased and canceled at the adjusted price.