Sunlord Electronics unlocks first phase of employee stock plan

Shenzhen Sunlord Electronics (SZSE:002138) announced that the first lock-up period for its fourth employee stock ownership plan is set to expire on September 23, 2025. The company's board of directors, at its seventeenth meeting on September 22, 2025, approved the fulfillment of the unlocking conditions. The plan’s first lock-up period, covering 4,258,500 shares—0.53% of the company's current total share capital—has met the performance assessment targets.

According to audited financial reports for 2024, the net profit attributable to shareholders of the listed company was CNY 83,208.42, which, after excluding the impact of share-based payment expenses from the employee stock ownership plan, amounted to CNY 84,107.92. This figure satisfies unlocking condition 1, requiring net profit of not less than CNY 830 million. As a result, 50% of the plan's shares will be unlocked during both the first and second unlocking periods.

The board's remuneration and appraisal committee confirmed that the performance indicators align with the plan's regulations, allowing the company to proceed with the unlocking process. The shares will be sold based on market conditions, with proceeds, after taxes and plan dues, distributed proportionally among holders.