Tianshui Zhongxing announces stock option plan, guarantees for subsidiaries

Tianshui Zhongxing Bio-Technology Co., Ltd. announced an initial grant of 14,375,000 stock options under its 2025 incentive plan, effective October 15, 2025, with an exercise price of 6.87 yuan per share. The grant includes 11,500,000 options to 17 initial grantees, including the chairman, general manager, deputy general manager, financial director, and 13 core employees, representing 2.92% of the company's total share capital. An additional 2,875,000 options are reserved. The options vest in three tranches over 12, 24, and 36 months, subject to performance targets including annual revenue of 2.1-2.5 bn yuan or non-recurring net profit growth of 55-95% (based on 2024 figures), and individual performance assessments.

Separately, Tianshui Zhongxing Bio-Technology is providing significant external guarantees for its wholly-owned subsidiaries. The company will guarantee a 350m yuan loan for Jiangsu Zhongxing Bio-Technology Co., Ltd. from Jiangsu Bank, expiring September 17, 2033. It will also guarantee a 40m yuan loan for Hubei Zhongxing Bio-Technology Co., Ltd. from China Construction Bank, expiring in 24 months. These guarantees fall within the 1,970m yuan limit approved by shareholders for 2025.

As of the announcement date, the company's total external guarantees amount to 1,152.1255m yuan, representing 34.73% of its net assets as of the end of 2024, with no overdue or disputed guarantees.