Shuanglin auto parts unveils 2025 restricted stock incentive plan

Ningbo Shuanglin Auto Parts has introduced a 2025 restricted stock incentive plan, targeting 15 individuals including senior management and core personnel, excluding independent directors. The plan will grant 193.75 million restricted shares (0.34% of current share capital), with an initial grant of 155 million shares (0.27%) and a reserved portion of 38.75 million shares (0.07%). The shares will be issued at RMB 23.36 per share, determined by 50% of the average stock price over the 20 trading days prior to the announcement.

The incentive plan's effectiveness, vesting dates, and allocation are aligned with current regulations and the company's articles of association. The board's compensation and appraisal committee has verified the plan's compliance, confirming no detriment to shareholder interests. The plan is subject to approval by shareholders at the upcoming general meeting on October 28, 2025.

The performance targets for vesting are based on 2024 net profit of RMB 326.4263 million. The first vesting period in 2025 requires a 58.50% increase in net profit, followed by 98.12% in 2026 and 147.65% in 2027 for subsequent vesting. Individual performance assessments will also influence the final vesting percentage, with higher scores leading to full vesting.