Xugong Group Engineering Machinery Co., Ltd. (hereinafter referred to as "the Company") and all members of the Board of Directors guarantee that the content of this information disclosure is true, accurate, and complete, without any false records, misleading statements, or significant omissions.
Special Reminder:
- The conditions for the second release period of the first grant of the 2023 Restricted Stock Incentive Plan (hereinafter referred to as "the Incentive Plan") have been achieved. A total of 1,540 eligible individuals can release 31.868711 million restricted shares, accounting for 0.27% of the Company's current total equity.
- The release of restricted shares still requires procedures to be completed with relevant departments. After the procedures are completed, the Company will issue a related announcement before the shares are listed for trading.
On May 25, 2026, the Company held the fifth meeting of the tenth Board of Directors (temporary) and reviewed and approved the proposal regarding the achievement of conditions for the second release period of the first grant of the 2023 Restricted Stock Incentive Plan. This proposal has been authorized by the first extraordinary general meeting of shareholders in 2023 and does not need to be submitted for review by the Company's shareholders' meeting. The relevant situation is announced as follows:
I. Relevant Approval Procedures for the Incentive Plan
(1) Approval Procedures
On February 17, 2023, the Company held the fifth meeting of the ninth Board of Directors (temporary) and reviewed and approved the proposals regarding the draft of the 2023 Restricted Stock Incentive Plan and its summary, the implementation assessment management measures, and the proposal to authorize the Board of Directors to handle matters related to the 2023 Restricted Stock Incentive Plan. The independent directors expressed their agreement with the relevant matters of this Incentive Plan. On the same day, the Company held the third meeting of the ninth Supervisory Board (temporary) and reviewed and approved the relevant proposals.
(2) Government Approval
On February 20, 2023, the Company disclosed the announcement regarding the approval of the 2023 Restricted Stock Incentive Plan by the State-owned Assets Supervision and Administration Commission of Xuzhou Municipal Government, which agreed in principle to the implementation of the plan.