GEM completes restricted share repurchase and cancellation

GEM announced on November 10, 2025, the completion of the repurchase and cancellation of 8,750,450 restricted shares, representing 0.17% of the company's total share capital before the cancellation. This action reduces GEM’s total shares from 5,124,299,057 to 5,115,548,607.

The repurchased shares were part of the 2022 restricted share incentive plan, involving 542 individuals. The total repurchase amount was 30,145,300.25 yuan, funded by the company's own capital. The shares were officially cancelled on November 7, 2025.

The repurchase was triggered by the non-achievement of performance targets for the third restricted share release period of the 2022 incentive plan. Cumulative operating revenue and net profit for 2022-2024 did not meet the set thresholds of 100.6 billion yuan and 6.8 billion yuan, respectively. Actual cumulative operating revenue was 93,120,236,786.22 yuan, and cumulative net profit was 3,418,509,297.66 yuan.

The company's board believes this repurchase and cancellation will not materially affect its operating performance, financial condition, or the diligent performance of its management team, ensuring equity distribution remains compliant with listing requirements.