Haers finishes employee stock plan, begins new share repurchase program

Zhejiang Haers Vacuum Containers announced the completion of its 2024 employee stock ownership plan's second batch of reserved grants, transferring 2,638,629 repurchased shares at a price of CNY 2.92 per share. This transfer, completed on October 9, 2025, follows the approval of the adjustment to the share transfer price and allocation.

The company previously repurchased 10,198,629 shares between May 2023 and November 2023, at a total cost of CNY 66,518,394.29 (excluding taxes and fees). These shares were earmarked for employee incentive programs. With the latest transfer, all repurchased shares have been fully utilized for the employee stock ownership plan.

Separately, the company reported its ongoing share repurchase program. As of September 30, 2025, Haers had repurchased 5,605,550 shares, representing 1.20% of its total share capital, at a total cost of CNY 44,983,747 (excluding taxes and fees). This program aims to repurchase shares worth between CNY 80m and CNY 160m for future equity incentives or employee stock ownership plans.