Sinofibers Technology completes initial employee stock plan share transfer

Sinofibers Technology Company Limited has announced the completion of the initial non-transactional transfer of shares for its 2025 Employee Stock Ownership Plan (the Plan). Approved by the board of directors on September 8, 2025, and shareholders on September 26, 2025, the Plan's shares originate from the company's repurchase program.

As of the announcement date, the Plan received 2,950,000 shares, representing 0.67% of the company's total share capital, via non-transactional transfer on November 11, 2025. This transfer processed at a price of CNY 18.03 per share. The company’s dedicated repurchase account now holds 561,400 remaining shares, approximately 0.13% of its total share capital. The total funds for the initial subscription did not exceed CNY 53.1885 million, sourced from employees' legal compensation and self-funded capital.

The Plan, with a duration of 48 months, will unlock the acquired shares in two tranches of 50% each, after 12 and 24 months from the last share transfer date, with final figures determined by performance assessments. The company will account for the Plan according to corporate accounting standards, with the final impact on operating results subject to the annual audit report.