Victory Giant approves restricted stock vesting, subsidiary guarantee

Victory Giant Technology (Huizhou) announced the first batch of its third vesting period for the 2022 restricted stock incentive plan, with 616 incentive recipients vesting 4,828,320 shares. These shares, representing 0.5548% of the company's total share capital, are scheduled to be listed and circulated on October 30, 2025. The company's 2024 performance achieved the baseline growth rate, leading to a 32% vesting ratio for the third period. The total share capital of the company remains unchanged as these shares originated from treasury stock buybacks.

Separately, Victory Giant Technology (Huizhou) also announced a RMB 320,000,000 guarantee for its wholly-owned subsidiary, Yiyang Weisheng Technology Co., Ltd., with the Bank of China. This guarantee, part of the RMB 800,430,000 total guarantee limit approved at the 2024 annual shareholders' meeting, is for a three-year period from the maturity date of the main debt. The total outstanding guarantee balance for the company and its controlled subsidiaries is RMB 941,782,000, representing 10.55% of the company's audited net assets as of December 31, 2024.