Chacha Food completes stock option grant, updates share buyback

Chacha Food Co. Ltd. has completed registration for the reserved grant under its 2024 stock option incentive plan, with a grant date of September 29, 2025, and a registration completion date of November 3, 2025. This reserved grant involves 600,000 stock options to seven individuals, representing 0.12% of the company's total share capital, at an exercise price of 18.67 yuan per share. The options have a maximum term of 48 months, with vesting periods of 12 and 24 months, each for 50% of the granted options. The company anticipates an expense impact of 50.57m yuan in 2025, 166.36m yuan in 2026, and 55.50m yuan in 2027 from this incentive plan.

In a related development, Chacha Food provided an update on its share buyback program. As of October 31, 2025, the company had repurchased 1,766,691 shares, accounting for 0.349% of its total share capital. The buyback involved a total consideration of 43,358,627.02 yuan, with prices ranging from 21.40 yuan to 29.53 yuan per share.

The company plans to utilize the repurchased shares for future equity incentive or employee stock ownership plans. The buyback program, approved on November 14, 2024, has a maximum budget of 80m yuan and a minimum of 40m yuan, with a price cap of 46.21 yuan per share following adjustments for equity distributions.