NARI Technology cancels restricted shares from 2021 incentive plan

NARI Technology Co., Ltd. announced the repurchase and cancellation of 332,103 restricted shares from its 2021 equity incentive plan. This follows 23 incentive beneficiaries failing to meet unlock conditions, including individuals who left the company, one who passed away, and others whose performance reviews were rated C. The repurchase price is CNY 12.74 per share, adjusted for bank demand deposit interest.

The repurchased shares include 322,983 from the initial grant and 9,120 from the deferred grant. Following this cancellation, the company’s remaining restricted shares from the 2021 plan will be 35,431,398. NARI Technology's total share capital will decrease by 332,103 shares to 8,031,756,156 shares. The company confirmed that the funds for this repurchase are from its own sources.

The decision was approved by the company's ninth board of directors and ninth supervisory board on October 30, 2025. The cancellation is expected to be completed by December 29, 2025, with subsequent industrial and commercial registration changes to follow.