Aotecar New Energy adjusts capital, articles following equity changes

Aotecar New Energy Technology (SZSE:002239) will increase its registered capital from 3,308,833,844 yuan to 3,318,336,316 yuan, reflecting a net increase of 9,502,472 shares. This change is driven by the registration of 13,499,500 new shares from a restricted stock grant, partially offset by the repurchase and cancellation of 3,997,028 restricted shares. The cancellation stems from the non-achievement of performance targets for the first vesting period of the 2024 restricted stock incentive plan and the departure of some incentive recipients.

The company will repurchase 2,619,028 shares at 1.26 yuan per share, plus a 0.95% one-year deposit interest rate, totaling 3,331,325.05 yuan due to unachieved performance goals. An additional 1,378,000 shares will be repurchased at 1.26 yuan per share, totaling 1,736,280 yuan, from departing employees. These actions, approved by the board on November 11, 2025, will lead to a total repurchase cost of 5,067,605.05 yuan, funded by the company's own capital.

The proposed amendments to the articles of association, specifically Articles 6 and 21, will be submitted for shareholder approval. The board’s compensation and appraisal committee confirmed the repurchase aligns with regulatory requirements and does not adversely affect the company's financial health or ongoing incentive plans.