Shenzhen SC New Energy announces vesting for 2023 incentive plan

Shenzhen SC New Energy Technology Corp. has announced the successful conclusion of the second vesting period for its 2023 restricted stock incentive plan. A total of 578,420 shares will be listed for circulation on October 16, 2025, representing 0.1663% of the company's total share capital before this vesting. The shares will be distributed to 344 eligible incentive recipients.

The company's board of directors confirmed that the vesting conditions for the second period have been met, including a 2024 net profit growth rate of 162.71% based on 2022 net profit, exceeding the target of 30.00%. The shares were granted at an adjusted price of CNY 63.4 per share, with the capital raised from this vesting to be used to supplement the company's working capital.

During the process, 11 incentive recipients were removed due to departure, resulting in 15,900 shares being forfeited. Additionally, 1 employee resigned and 21 employees forfeited all 21,000 restricted shares, while 7 employees partially forfeited 2,200 restricted shares due to personal reasons, leading to a total forfeiture of 23,200 shares. The company's total share capital will increase from 347,713,586 shares to 348,292,006 shares following this transaction.