Wolong Electric adjusts restricted stock plan, reduces grantees

Wolong Electric Group Co., Ltd. announced on November 21, 2025, adjustments to its 2025 restricted stock incentive plan. The initial list of 156 grantees has been reduced to 154 after two individuals voluntarily forfeited their entire allocation. This adjustment does not affect the total number of restricted shares granted or the overall restricted stock pool.

Following the adjustment, the board approved the grant of 4.62 million restricted shares at a price of 24.11 yuan per share. The grant date for these shares is set for November 20, 2025. This decision was made after confirming that all granting conditions have been met. The total cost of the plan is estimated to be 7,581.42 yuan, with expenses amortized through 2028.

The restricted shares will be released in three tranches: 30% after 12 months, 30% after 24 months, and 40% after 36 months, subject to the achievement of performance targets. The net profit targets for 2025, 2026, and 2027 are set at not less than 1.08 bn yuan, 1.30 bn yuan, and 1.50 bn yuan, respectively.