Senior Technology Material vests first batch of restricted stock

Shenzhen Senior Technology Material confirmed the vesting of 6,232,500 restricted shares, representing 0.46% of the company's current total share capital, under the first vesting period of its 2024 restricted stock incentive plan. The shares will be listed for circulation on October 17, 2025. This vesting impacts 47 eligible incentive recipients, with an adjusted vesting price of CNY 3.70 per share.

The company's board of directors approved the vesting after confirming that the performance conditions for the first vesting period were met. This includes a 57.64% increase in lithium-ion battery separator sales volume for 2024 compared to 2023, surpassing the target of 30%. Three original incentive recipients, who collectively held 165,000 shares, forfeited their unvested shares due to resignation, and these shares have been cancelled.

Proceeds from the vesting, totaling CNY 23,060,250.00, will be used to supplement the company's working capital. The total share capital of Shenzhen Senior Technology Material will increase to 1,348,124,139 shares following this transaction, which is not expected to significantly alter the company's ownership structure or impact its listing status.