CATL revises articles, adjusts capital, cancels stock options

Contemporary Amperex Technology (CATL) will increase its registered capital to RMB4,563,608,365 following several share-related activities in 2025. These include the issuance of 155,915,300 H-shares (prior to over-allotment exercise), the exercise of 100 stock options from the 2022 incentive plan, the vesting of 1,650,424 restricted shares from the 2022 incentive plan, the vesting of 300,382 restricted shares from the 2021 incentive plan, and the exercise of 2,347,248 stock options from the 2021 and 2022 incentive plans. This necessitates revisions to the company's articles of association and related governance documents, which will be submitted for shareholder approval.

In parallel with these corporate adjustments, CATL is enhancing its risk management frameworks. The board has approved an increase in its foreign exchange hedging quota for 2025, raising the transaction margin and premium limit to RMB170 bn and the maximum contract value to RMB2,000 bn. Additionally, the company will supplement its 2025 guarantee quota for wholly-owned and controlling subsidiaries by up to RMB2 bn and €150m.

Furthermore, CATL has approved the cancellation of 2,404 stock options from its 2021 incentive plan. This cancellation is due to certain employees no longer meeting vesting conditions or having unexercised options at the expiry of the third exercise period. The company also announced the resignation of Mr. Zhao Fenggang as a director, with Mr. Wu Yingming nominated as his successor, which will be subject to shareholder approval.