Beixin Building Materials completes registration for 2024 restricted stock grant

Beixin Building Materials announced the successful registration of its 2024 restricted stock incentive plan's reserved grant, with 1.8457 million restricted shares set to be listed on November 10, 2025. The grant price for these shares is set at 15.75 yuan per share, involving 66 incentive recipients. The shares originate from the company's private placement of A-share common stock to the beneficiaries. The total amount raised from this grant is 29,069,775.00 yuan, increasing the company's share capital by 1,845,700.00 yuan and capital reserve by 27,224,075.00 yuan.

The incentive plan's validity period extends up to 72 months from the registration date, with staggered unlocking periods over 24, 36, 48, and 60 months. The first unlocking period (24-36 months) accounts for 34% of the awarded shares, while the second (36-48 months) and third (48-60 months) each account for 33%. The plan also includes performance targets for 2025, 2026, and 2027, focusing on compounded net profit growth, return on net assets, and improved economic value added (EVA).

The company's controlling shareholder, China National Building Materials Group, will see its stake slightly reduced from 37.58% to 37.54% post-grant, with no impact on overall control. The accounting cost for this incentive plan, estimated at 1,758.95 million yuan, will be expensed over several years, with 185.97 million yuan in 2025 and 637.62 million yuan in 2026. The funds raised will be allocated to supplement the company's working capital.