Kunlun Tech completes first vesting of 2024 stock plan

Beijing Kunlun Tech Co., Ltd. (SZSE:300418) announced the successful completion of the first vesting period of its 2024 restricted stock incentive plan. A total of 1,687.5899 million restricted shares will be vested to 338 eligible employees, representing 1.37% of the company's total share capital before vesting. These shares are scheduled to be listed and circulated on May 27, 2025. The vesting conditions were met based on the company achieving CNY 5.662 billion in revenue for 2024. The shares will be issued at a price of CNY 19.581 per share. Beijing East Audit certified the capital contribution and the shares have been officially registered. The funds raised from the restricted stock issuance will be used to supplement the company's working capital.