Shannon Core Innovation completes first vesting period for restricted stock incentive

Shannon Core Innovation has announced the successful first vesting period for its 2024 restricted stock incentive plan's reserved grant. A total of 21 eligible incentive recipients will see 1.112 million restricted shares vest, representing 0.24% of the company's current total share capital. The vesting price has been adjusted to 13.317 yuan per share. These shares are scheduled to be listed and traded on November 6, 2025.

The company confirmed that the vesting conditions for the first period of the reserved grant were met. The overall corporate performance targets for 2024 were achieved, with a consolidated operating revenue (excluding home appliance business) of 23.872 billion yuan, a semiconductor product segment operating revenue of 292 million yuan, and a semiconductor distribution segment operating revenue of 23.580 billion yuan, all meeting the 100% vesting ratio. Additionally, all 21 incentive recipients achieved an "A" performance rating, qualifying for a 100% individual vesting ratio.

Following this vesting, the company's total share capital will increase from 463,773,767 shares to 464,885,767 shares. The capital raised from the restricted stock subscription, totaling 14,808,504.00 yuan, will be used to supplement the company's working capital. The change in share capital is not expected to significantly impact the company's financial structure or control.