Kuang-Chi Technologies cancels remaining 2021 stock options

Kuang-Chi Technologies (SZSE:002625) announced the cancellation of 110,691 unexercised stock options from its 2021 stock option incentive plan, following approval at the company's board and supervisory meetings on April 24, 2025. The cancellation pertains to options that were not exercised by the end of the third exercise period, which concluded on February 28, 2025. According to the announcement, the cancellation will not materially impact the company’s financial condition or operating results. The initial grant price was adjusted to CNY 22.883 per share. The company obtained legal opinions from Shanghai Landy Law Firm confirming the legitimacy and validity of the cancellation. The incentive plan originally involved granting 8.98 million stock options at CNY 23.25 per share to 120 eligible individuals on March 1, 2021.