XCMG: First tranche of restricted shares to be released

XCMG Construction Machinery (SZSE:000425) announced that the conditions for releasing the first tranche of restricted shares from its 2023 incentive plan have been met. A total of 33.88 million shares, representing 0.29% of the company’s total share capital, will be released for 1,616 eligible employees. The shares will become available for trading on May 26, 2025. The decision was approved at the company's 33rd board meeting, confirming that performance targets for fiscal year 2023 have been achieved, including a net asset yield exceeding 9% and a net profit exceeding CNY 5.3 billion.