Wangsu Technology completes second restricted share vesting for 231 employees

Wangsu Technology has completed the second vesting period of its 2023 Restricted Stock Incentive Plan, with 15,380,000 restricted shares now vested. These shares represent 0.6289% of the company's total share capital, with a vesting price of yuan 2.87 per share. The shares will become tradable on September 24, 2025.

Out of the total vested shares, 1,662,790 shares for 7 incentive recipients originated from the company's A-share repurchase program. The remaining 13,717,210 shares for 225 incentive recipients were issued through a private placement of A-shares. The total proceeds of yuan 44,140,600 from this vesting will be used to supplement the company's working capital.

Following this vesting, Wangsu Technology’s total share capital will increase from 2,445,732,567 shares to 2,459,449,777 shares. The company confirmed that all necessary conditions for vesting were met, including performance targets and employee tenure.