Chacha Food approves option grant, adjusts exercise price

Chacha Food Co., Ltd. announced resolutions from its Sixth Board of Directors' 20th meeting on September 29, 2025. The board approved the adjustment of the exercise price for the 2024 share option incentive plan and the grant of reserved share options to eligible incentive recipients. These actions align with prior approvals from the board, supervisory committee, and a general meeting of shareholders held between September 2024 and August 2025.

The exercise price for the 2024 share option incentive plan was adjusted from RMB19.97/share to RMB18.67/share, effective September 29, 2025. This adjustment follows two cash dividend distributions in January and June 2025, where the company paid RMB3.000000 and RMB10.000000 per 10 shares, respectively.

On the same date, the company granted 60.00m reserved share options, representing 0.12% of the current total share capital, to seven eligible recipients, including one employee director and six core employees. This grant, at an exercise price of RMB18.67/share, is part of the 2024 incentive plan, which aims to grant a total of 478.00m share options to various participants. The independent financial advisor and legal counsel confirmed that all procedures and conditions for the grant and adjustment have been met.