Mesnac releases 18.25m restricted shares from incentive plan

Mesnac Co., Ltd. (SZSE:002073) announced the listing and circulation of 18,250,000 restricted shares on October 23, 2025. This marks the release of the second restricted period under the company's 2023 restricted stock incentive plan, representing 1.7897% of the company's total share capital of 1,019,726,423 shares. A total of 49 incentive participants met the conditions for unlocking these shares.

The second vesting period became effective after Mesnac met its performance targets, achieving a net profit growth rate of 149.78% in 2024 compared to 2022, surpassing the 60% target. Additionally, all 49 incentive participants achieved "qualified" ratings in their individual performance assessments, satisfying the personal-level requirements for share release.

Prior to this, 500,000 restricted shares were repurchased and cancelled due to the departure of two incentive participants. The current release involves 3,650,000 shares originally granted, with 1,825,000 shares now being released for circulation, leaving no remaining unreleased restricted shares from this tranche for the qualifying individuals.