Teway Food to cancel employee stock plan shares

Sichuan Teway Food Group has begun the repurchase and cancellation of 281,500 shares under its 2024 employee stock ownership plan. This action follows the departure of nine participants due to personal reasons and four participants failing to meet performance targets, impacting their unvested shares. The total number of shares to be cancelled remains 281,500, with an estimated completion date of December 19, 2025.

The decision was approved by the company's 2024 employee stock ownership plan management committee, the sixth board of directors, and the second extraordinary general meeting in 2025. Following completion, the company's total share capital will decrease from 1,064,996,294 shares to 1,064,714,794 shares.

The company has confirmed that the procedures and information disclosure comply with relevant laws and regulations, ensuring no prejudice to the legitimate rights and interests of participants or creditors. No creditors have raised objections or sought repayment or guarantees during the notification period.