Jiayou International's employee stock plan falls short of unlocking conditions

Jiayou International Logistics announced that the first lock-up period for its 2024 employee stock ownership plan, expiring December 18, 2025, has not met its unlocking conditions. The plan, approved in July and August 2024, comprises 35,047,591.72 units, corresponding to 3,068,966 shares transferred from the company's buyback account at a price of 11.42 yuan per share on December 17, 2024. Following a dividend distribution in June 2025, the number of shares adjusted to 4,296,552.

The key performance metric for the first unlocking period was a 50% net profit growth rate for 2024 compared to 2023. However, the company's net profit attributable to shareholders of listed companies for 2024, after excluding the impact of stock-based compensation expenses, increased by 24.63% to 1,294,677,636.77 yuan from 1,038,787,007.79 yuan in 2023. This falls short of the required 50% target. The plan's management committee will handle the disposition of the relevant units in accordance with regulations.