Securities Code: 002264
Securities Abbreviation: Xinhuadu
Announcement Number: 2026-042
Xinhuadu Technology Co., Ltd.
Announcement on Termination of "Navigator Plan (Phase VI)" Stock Option Incentive Plan and Cancellation of Part of Stock Options
The company and all members of the board of directors guarantee the content of the information disclosure is true, accurate, and complete, and there are no false records, misleading statements, or major omissions.
Xinhuadu Technology Co., Ltd. (hereinafter referred to as the "Company") held the Second (Extraordinary) Meeting of the Seventh Board of Directors on July 22, 2026, and deliberated and passed the "Proposal on Terminating the 'Navigator Plan (Phase VI)' Stock Option Incentive Plan and Canceling Part of Stock Options." The Company plans to terminate the "Navigator Plan (Phase VI)" stock option incentive plan and cancel a total of 7,286,700 stock options. The cancellation matters require registration with Shenzhen Branch of China Securities Depository and Clearing Corporation Limited to be finally completed. The relevant matters are hereby explained as follows:
I. Decision-making Procedures and Implementation of this Incentive Plan Stock Options
- On June 27, 2024, the Company held the Eleventh (Extraordinary) Meeting of the Sixth Board of Directors and deliberated and passed proposals including the "Proposal on the Draft 'Navigator Plan (Phase VI)' Stock Option Incentive Plan and its Summary," the "Proposal on the Performance Assessment and Management Measures for the 'Navigator Plan (Phase VI)' Stock Option Incentive Plan," and the "Proposal on Authorizing the Board of Directors to Handle Matters Related to the 'Navigator Plan (Phase VI)' Stock Option Incentive Plan." These proposals were reviewed and approved by the Remuneration and Assessment Committee of the Board of Directors and submitted to the Board of Directors with recommendations.
On the same day, the Company held the Tenth (Extraordinary) Meeting of the Sixth Supervisory Committee and deliberated and passed proposals including the "Proposal on the Draft 'Navigator Plan (Phase VI)' Stock Option Incentive Plan and its Summary," the "Proposal on the Performance Assessment and Management Measures for the 'Navigator Plan (Phase VI)' Stock Option Incentive Plan," and the "Proposal on Verifying the List of Incentive Recipients for Xinhuadu Technology Co., Ltd.'s 'Navigator Plan (Phase VI)' Stock Option Incentive Plan." The Supervisory Committee and legal counsel issued relevant opinions.
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On July 9, 2024, the Supervisory Committee issued the "Explanation on the Public Announcement of the List of Incentive Recipients for the 'Navigator Plan (Phase VI)' Stock Option Incentive Plan and Audit Opinion." From June 29, 2024, to July 8, 2024, the Company publicly announced the list of incentive recipients internally. Upon expiration of the public announcement period, the Company's Supervisory Committee did not receive any objections regarding the list of incentive recipients.
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On July 15, 2024, the Company held the Third Extraordinary General Meeting of Shareholders in 2024 and deliberated and passed proposals including the "Proposal on the Draft 'Navigator Plan (Phase VI)' Stock Option Incentive Plan and its Summary," the "Proposal on the Performance Assessment and Management Measures for the 'Navigator Plan (Phase VI)' Stock Option Incentive Plan," and the "Proposal on Authorizing the Board of Directors to Handle Matters Related to the 'Navigator Plan (Phase VI)' Stock Option Incentive Plan." This incentive plan was approved, and the Board of Directors was authorized to handle matters related to the incentive plan. On the same day, the Company disclosed the "Self-Inspection Report on Insider Trading of Company Stock by Insiders of the 'Navigator Plan (Phase VI)' Stock Option Incentive Plan."