Shenzhen Kaifa Technology cancels 440,538 stock options from 2022 plan

Shenzhen Kaifa Technology Company Limited confirmed on November 7, 2025, the completion of the cancellation of certain stock options. This action follows resolutions passed at board and supervisory board meetings on September 22, 2025.

The cancellation pertains to two incentive recipients no longer eligible due to resignation or other reasons. Additionally, two recipients' first exercise period individual performance appraisal result was "C", rendering their current stock options unexercisable. A total of 440,538 million stock options have been cancelled.

The company states this cancellation complies with the "Administrative Measures for Equity Incentives of Listed Companies" and the "2022 Stock Option Incentive Plan (Draft Amendment)," ensuring no harm to the company or its shareholders' interests. The company further confirmed this cancellation is legal, valid, and will not alter its share capital structure. Details were previously disclosed on cninfo.com.cn on September 23, 2025 (Announcement No.: 2025-039).