Topsec completes non-trading transfer for employee stock ownership plan

Nanyang Topsec Technologies Group announced the completion of the non-trading transfer of 800,000 shares for the reserved portion of its "Fendouzhe" second-phase employee stock ownership plan on November 12, 2025. This transfer, approved by the board and shareholders, utilizes shares repurchased by the company. The shares will be unlocked in three tranches over 12, 24, and 36 months following the transfer, at ratios of 50%, 30%, and 20% respectively.

The shares for this reserved portion, as well as the initial tranche, originated from two company buyback programs. The 2024 buyback program saw the company repurchase a total of 11,232,400 shares between February 5 and July 30, 2024, at an aggregate cost of 59,998,840.00 yuan. The employee stock ownership plan acquired 16,250,907 shares in total, including 5,018,507 shares from the 2022 buyback and all 11,232,400 shares from the 2024 buyback.

The total recognized expense for the reserved shares under the plan is estimated at 4.712m yuan, to be amortized between 2025 and 2028. The company confirmed that all repurchased shares have been allocated as intended, with no discrepancies between the actual use and the planned purpose of the buyback schemes.