Kuangda Tech employee stock plan meets first unlock milestone

Kuangda Technology Group announced that the first unlocking period for its 2024 employee stock ownership plan has been met, triggering the release of 4,670,600 shares or 0.32% of the company's total share capital. The unlocking is contingent on both company-level and individual performance targets. The company's 2024 revenue increased by 16.35% compared to 2023, based on its audited financial results. All 36 participating employees achieved "qualified" ratings in their individual performance assessments. These shares will be distributed based on employee holdings. The plan, approved in May and June of 2024, involves shares repurchased by the company at a price of CNY 2.50 per share.