Chacha Food cancels stock options due to missed targets, staff departures

Chacha Food Co., Ltd. announced on August 30, 2025, the completion of the cancellation of 1,674,000 stock options. This action was approved during board and supervisory board meetings on August 21, 2025.

The cancellation stems from two main reasons: three incentive recipients resigned, rendering 600,000 granted but unexercised options ineligible. Additionally, the company's first exercise period performance target for 2024 was not met, leading to the forfeiture of 1,074,000 options by 26 incentive recipients. This adjustment reduces the number of incentive recipients from 29 to 26 and the total number of granted but unexercised options that do not meet exercise conditions from 4,180,000 to 2,506,000.

The company confirmed that the cancellation, processed by China Securities Depository and Clearing Corporation Limited Shenzhen Branch, will not impact its total share capital or share structure and adheres to relevant regulations.