Changchuan technology set to vest significant restricted stock, raising working capital

Hangzhou Changchuan Technology Co., Ltd. announced the upcoming listing and circulation of 3,936,760 restricted shares on November 10, 2025. This total represents 0.6244% of the company's current total share capital and combines shares from two incentive plans.

The 2022 Restricted Stock Incentive Plan's third vesting period will vest 1,338,400 shares for 120 employees, representing 0.2123% of the current total share capital. The 2024 Restricted Stock Incentive Plan's first batch of the first vesting period will vest 2,598,360 shares for 484 employees, amounting to 0.4121% of the current total share capital. The total capital raised from these vesting events is CNY 74,563,630.4, which will be used to supplement the company's working capital.

These vesting events follow the satisfaction of performance and tenure conditions. The 2022 plan’s shares were granted at CNY 24.77 per share, while the 2024 plan’s shares were granted at CNY 15.84 per share. This transaction increases the company's total share capital from 630,465,854 shares to 634,402,614 shares.