Weixing Industrial grants restricted shares after incentive plan adjustment

Zhejiang Weixing Industrial Development (SZSE:002003) announced the initial grant of 19.42 million restricted shares under its sixth equity incentive plan on October 21, 2025, to 194 beneficiaries at an issue price of 5.22 yuan per share. This follows an adjustment to the initial list of beneficiaries, which saw the number of eligible recipients reduced from 197 to 196, while maintaining the total number of initially granted restricted shares at 20 million. The adjustment was due to a change in position for one individual, rendering them unsuitable for the plan, and a temporary deferral for two senior executives due to recent share disposals.

The total incentive plan involves 23 million restricted shares, representing 1.97% of the company's total share capital, with 20 million shares for the initial grant and 3 million reserved. The company confirmed that the granting conditions have been met, and the equity incentive plan is projected to incur a total share-based payment expense of 9,845.94 yuan over the validity period, allocated from 2025 to 2029. The funds raised from this issuance will be used to supplement the company's working capital.