BYD employee stock plan: First lock-up period ends

BYD announced the expiration of the first lock-up period for its 2024 employee stock ownership plan (ESOP) on November 27, 2025. The ESOP, approved in late 2024, had a total lock-up period of 12 months for its first tranche. The plan acquired 664,755 shares through concentrated bidding on the secondary market at an average price of 296.60 yuan per share, totaling 197,165,752.07 yuan.

Following the implementation of BYD's 2024 annual profit distribution and capital reserve capitalization plan on July 29, 2025, the number of shares held by the ESOP increased from 664,755 to 1,994,265. The unlockable proportion for the first period is 20% of the ESOP's total holdings, corresponding to 398,853 shares, representing 0.0044% of the company's current total share capital of 9,117,197,565 shares.

The ESOP's management committee will now dispose of the unlocked shares in the market, adhering to legal and regulatory requirements. Future trading activities will be restricted during specific blackout periods, including prior to the release of annual, semi-annual, and quarterly reports, and during other significant events impacting the company's stock price.