Gongniu Group to cancel restricted shares due to employee departures

Gongniu Group Co., Ltd. announced the repurchase and cancellation of 614,260 restricted shares. This action follows 98 incentive plan participants losing their eligibility across the 2023, 2024, and 2025 restricted share incentive plans due to resignation. The expected completion date for cancellation is December 25, 2025.

Specifically, the cancellation includes 119,365 shares from the 2023 incentive plan (69 individuals), 290,775 shares from the 2024 plan (80 individuals), and 204,120 shares from the 2025 plan (32 individuals). After this repurchase and cancellation, the company's total share capital will decrease to 1,807,973,428 shares, with 7,245,214 restricted shares remaining under the incentive plans.

The company has notified creditors, with the 45-day public notice period concluding on October 31, 2025. No creditor claims have been received. This change will not affect the company's controlling shareholder or actual controller, and the equity distribution will continue to meet listing requirements.