Yantai China Pet Foods’ 2024 ESOP nears first share unlock

Yantai China Pet Foods’ 2024 Employee Stock Ownership Plan (ESOP) is approaching the expiration of its first 12-month lock-up period, calculated from October 18, 2024, to October 17, 2025. The plan, approved at a shareholders' meeting on September 5, 2024, utilized 4,463,858 repurchased A-share ordinary shares, representing 1.52% of the company’s total share capital at the time of repurchase.

The company's performance for 2024, a critical factor for unlocking shares, saw impressive growth. Audited figures by WX CPA showed the attributable net profit, after excluding goodwill impairment and share-based payment expenses, reached 404,687,037.73 yuan. This represents a 73.56% increase compared to 2023, meeting the target set for a 100% company-level unlock ratio for the corresponding period.

Consequently, 1,785,543 shares, or 0.59% of the company’s current total share capital, are eligible for unlocking from the first tranche of the ESOP. The management committee will determine the disposal of these shares after the lock-up period, in accordance with regulatory requirements and market conditions.