Zhejiang Communications Technology grants restricted shares to key personnel

Zhejiang Communications Technology Co., Ltd. announced on September 19, 2025, the grant of 3,748,100 restricted shares from its reserved portion to 48 eligible incentive recipients. The grant price is set at CNY 2.50 per share, with the granting date also confirmed as September 19, 2025. This action is part of the company's 2024 Restricted Share Incentive Plan, which aims to motivate its directors, senior management, middle management, and core technical staff.

The grant follows approvals from the company's ninth board of directors and ninth supervisory board, which verified that the vesting conditions for the reserved restricted shares have been met. The total number of reserved restricted shares granted is 3,748,100, slightly less than the initially planned 3,900,000 shares, with the remaining 151,900 shares becoming void.

The financial impact of this grant on the company's accounting costs is estimated to be CNY 622.18m over five years, allocated as follows: CNY 65.46m in 2025, CNY 233.32m in 2026, CNY 198.41m in 2027, CNY 91.43m in 2028, and CNY 33.57m in 2029. These costs are based on the difference between the closing price on the grant date and the grant price, which is CNY 1.66 per share.