Midea Group cancels restricted stock for departed employees

Midea Group's board of directors has approved the repurchase and cancellation of restricted stock from its 2022 and 2023 incentive plans. For the 2022 plan, 8 departed employees will have 178,667 restricted shares repurchased at a price of 17.47 yuan per share, totaling 3,121,312.49 yuan. This represents 1.47% of the total restricted shares under the plan.

Similarly, for the 2023 plan, 9 departed employees and 1 employee whose position was adjusted will have 123,750 restricted shares repurchased. The repurchase price for these shares is 19.39 yuan per share, amounting to 2,399,512.50 yuan. This accounts for 0.68% of the total restricted shares under the 2023 plan. All repurchases will be funded by the company's own capital.

These actions, taken on September 5, 2025, follow a series of approvals and adjustments outlined in prior board and shareholder meetings. The company's capital structure will experience a minor change with a total reduction of 302,417 A-share restricted shares. The board's compensation and assessment committee confirmed that the procedures align with relevant regulations and will not materially impact the company's financial condition or operations.