Sieyuan Electric adjusts stock option plan, cancels options

Sieyuan Electric announced adjustments to its 2023 stock option incentive plan, as approved by the board of directors. Key changes include reducing the number of incentive recipients from 459 to 446 and decreasing the total number of stock options from 21,478,000 to 20,995,000. A total of 448,000 options were canceled due to employee departures/retirements, and 35,000 options were canceled due to performance-based reasons. The exercise price was adjusted to CNY 44.50 per share, factoring in the company's 2024 dividend distribution of CNY 4.998403 per share. These changes are in line with relevant regulations and the company's incentive plan. These changes will not have a substantial impact on the company's financial situation.