Dongfang Precision board approves first vesting of 2024 employee stock plan

Guangdong Dongfang Precision Science & Technology announced the resolutions from its eighteenth (extraordinary) meeting of the fifth session of the board of directors, held on October 17, 2025. The board approved the first vesting of the 2024 employee stock ownership plan, with five votes in favor, zero against, zero abstentions, and two directors abstaining due to conflicts of interest.

The 2024 employee stock ownership plan's first lock-up period is set to expire on October 25, 2025. The company confirmed that the conditions for unlocking have been met, allowing for the vesting of 8,532,000 shares, representing 0.70% of the company's current total share capital. The plan's shares were acquired on October 25, 2024, at a price of CNY 2.64 per share, totaling 21,330,000 shares or 1.75% of the total share capital. The unlock percentage for the first period is 40%. The company performance target, based on non-recurring net profit growth, was achieved at 46.68%, surpassing the 20% target. Individual performance assessments also met the C-level or above requirement for 50 participants, ensuring a 100% unlock ratio for the first tranche.

The board's compensation and assessment committee confirmed that both company-level and individual-level performance targets for the 2024 employee stock ownership plan's first lock-up period have been met. The management committee will proceed with the sale of these shares in the market, in accordance with the plan's rules and market conditions, after deducting taxes.