Keli Motor Group cancels unexercised stock options from 2024 plan

Keli Motor Group Co., Ltd. announced the completion of the cancellation of certain stock options from its 2024 stock option incentive plan. The company's fourth board of directors' tenth meeting, held on October 14, 2025, approved the cancellation of 263,520 stock options associated with incentive recipients who failed to meet performance targets during the first exercise period. This decision was disclosed on the Juchao Information Network on October 15, 2025.

The application for cancellation was submitted to the Shenzhen branch of China Securities Depository and Clearing Corporation Limited. Following their review and confirmation, the cancellation of these stock options was completed on October 20, 2025.

The company affirmed that this cancellation aligns with relevant regulations, including the "Administrative Measures for Equity Incentive of Listed Companies" and the "Articles of Association," as well as the "2024 Stock Option Incentive Plan (Draft)." The cancellation of these unexercised options will not impact the company's share capital and does not harm the interests of the company or its shareholders, particularly small and medium shareholders.