Keli Motor Group announces first stock option exercise period

Keli Motor Group has announced the commencement of the first exercise period for its 2024 stock option incentive plan. Seventy-nine eligible employees can exercise 892,080 stock options, representing approximately 0.12% of the company's current total share capital, at an exercise price of 5.43 yuan per share. The exercise period will run from October 22, 2025, to October 16, 2026.

The company's board of directors confirmed that the exercise conditions for the first period have been met. This included the 2024 operating revenue reaching 16.565033 bn yuan, exceeding the target of 14.25 bn yuan. Individual performance assessments also contributed to eligibility, with 72 employees achieving an 80% exercise ratio and 7 achieving a 60% ratio. Ineligible options totaling 263,520 shares will be cancelled.

The exercise will not significantly impact Keli Motor Group's equity structure or its listing status. Proceeds from the exercise will be used to supplement the company's working capital, and relevant taxes will be handled by the employees.