Xingyu Automotive Lighting Systems' 2024 employee stock plan unlocks first tranche

Changzhou Xingyu Automotive Lighting Systems (Xingyu) announced the expiration of the first restricted period for its 2024 employee stock ownership plan on December 17, 2025, with unlocking conditions now fulfilled. The plan, approved in December 2024, saw 540,000 company shares transferred to the employee stock ownership account at a price of 72 RMB per share.

The first tranche represents 40% of the total shares held under the plan. Based on individual performance evaluations, 60 participants achieved a B grade or higher, leading to a 100% unlocking ratio for 206,400 shares. An additional 3 participants, graded C, unlocked 70% of their shares, totaling 6,720 shares.

In total, 213,120 shares, representing 0.07% of the company's current total share capital, have been unlocked. The management committee will determine the method for distributing or transferring these unlocked shares to participants' personal accounts, adhering to relevant legal and regulatory requirements.