TCL Technology Group Co., Ltd. and all members of the Board of Directors guarantee that the content of this announcement is true, accurate, and complete, with no false records, misleading statements, or significant omissions.
I. Overview
TCL Technology Group Co., Ltd. (hereinafter referred to as "the Company") held the third extraordinary general meeting of shareholders for 2025 on July 17, 2025, where it approved the proposals regarding the "TCL Technology Group Co., Ltd. 2025 Employee Stock Ownership Plan (Draft)" and its summary, as well as the "TCL Technology Group Co., Ltd. 2025 Employee Stock Ownership Plan Management Measures," agreeing to implement the 2025 Employee Stock Ownership Plan (hereinafter referred to as "the 2025 Employee Stock Ownership Plan"). On November 6, 2025, the Company transferred 174,747,985 shares held in its repurchase special securities account to the 2025 Employee Stock Ownership Plan securities account. According to the provisions of the 2025 Employee Stock Ownership Plan and the Company's performance during the assessment period, the key performance indicators set for the 2025 Employee Stock Ownership Plan have been met. The management committee for the 2025 Employee Stock Ownership Plan has confirmed that all shares held in this period's stock ownership plan will be vested to the holders. To improve the long-term incentive and constraint mechanism of the Company and implement differentiated and refined incentives for employee groups serving different objectives, the Company has decided to adjust the relevant matters of the 2025 Employee Stock Ownership Plan, splitting it into two sub-plans: the 2025 Partner Stock Ownership Plan (applicable to core management personnel) and the 2025 Mid-to-Long-Term Employee Stock Ownership Plan (applicable to mid-level managers and outstanding core employees). Corresponding drafts and summaries for the "TCL Technology Group Co., Ltd. 2025 Employee Stock Ownership Plan (Partner Stock Ownership Plan) (Revised Draft)" and its management measures, as well as the "TCL Technology Group Co., Ltd. 2025 Employee Stock Ownership Plan (Mid-to-Long-Term Employee Stock Ownership Plan) (Revised Draft)" and its management measures, have been formulated.
This adjustment does not involve lowering performance assessment conditions, accelerating exercise rights, or early unlocking arrangements, and does not harm the interests of the Company and all shareholders. This adjustment has been approved by the 23rd meeting of the 8th Board of Directors, with related directors Li Dongsheng, Wang Cheng, Zhao Jun, Liao Qian, Yan Xiaolin, and Zhu Wei abstaining from voting. This transaction does not constitute a major asset reorganization as defined by the "Administrative Measures for Major Asset Restructuring of Listed Companies" and still requires submission for shareholder meeting approval.