Shaoneng Group completes registration for 2025 restricted stock grant

Guangdong Shaoneng Group Co., Ltd. has announced the completion of the initial grant registration for its 2025 restricted stock incentive plan. A total of 14,724,800 restricted shares were granted to 239 eligible participants on September 17, 2025. The shares were granted at a price of 2.52 yuan per share, raising a total of 37,106,496.00 yuan, which will be used to supplement the company's working capital. The granted shares represent 1.37% of the company's total share capital at the time of the grant.

The incentive plan's validity period extends up to 48 months from the grant date, with lock-up periods of 12, 24, and 36 months for different tranches. The first unlock will occur after 12 months, covering 40% of the granted shares. The plan also includes performance assessment criteria, requiring a 30% net profit growth for 2025 (based on 2024 figures) for the first unlock.

The shares for this incentive plan were sourced from the company's secondary market repurchase of A-shares, which completed on April 8, 2025. The repurchase involved 32,416,645 shares, accounting for 3% of the company's total share capital, with a total transaction value of 150,695,341.98 yuan. The company expects the share-based payment expenses to impact net profit in 2025, 2026, 2027, and 2028.