Windey to release 3.43m restricted shares

Zhejiang Windey announced the upcoming release of restricted shares from the third tranche of its 2020 restricted stock incentive plan. Effective May 28, 2025, a total of 3,432,000 shares will be unlocked for 117 eligible employees. The release was approved by the company's board of directors on April 25, 2025, determining that all conditions for the third release period had been met. The company also stated that the performance conditions were met as the net profit growth rate was 303.18% and the weighted average return on net assets was 8.48%. The announcement detailed the history of the incentive plan's approval and implementation, and confirmed that the current release aligns with the original plan. Post-release, Windey's restricted shares will decrease to 89,107,406.