Keli Motor Group cancels some 2024 stock options, initial grants meet conditions

Keli Motor Group announced on October 15, 2025, the cancellation of 263,520 stock options from its 2024 stock option incentive plan, following a board resolution on October 14, 2025. This cancellation pertains to unexercised options from the first vesting period where performance targets for individual grantees were not met.

Concurrently, the company announced that the exercise conditions for the first vesting period of the 2024 stock option incentive plan have been fulfilled. This allows 79 eligible individuals to exercise 892,080 stock options at an exercise price of CNY 5.43 per share. These options represent approximately 0.12% of the company's current total share capital.

The adjustments, including the cancellation, were approved by the board based on authorization granted at the 2024 first extraordinary general meeting. The company confirmed that these actions will not significantly impact its financial status, operating results, or management team stability, nor will they alter the company's listing status.