Guangzhou Tinci Materials Technology Co., Ltd. (hereinafter referred to as "the Company") held its 14th meeting of the sixth board of directors on March 6, 2026, and approved the proposal regarding the cancellation of certain stock options under the 2024 stock option incentive plan. The details are as follows:
I. Relevant Approval Procedures for the Stock Option Plan
- On December 11, 2024, the Company’s 14th meeting of the sixth board of directors approved the proposal regarding the 2024 stock option incentive plan (hereinafter referred to as "the Plan") and the relevant resolutions.
- From December 13 to December 22, 2024, the Company will conduct the stock option plan's related matters. The Company will collect feedback on the stock options from relevant parties during this period.
- On December 24, 2024, the Company will disclose the relevant information on its official website (http://www.cninfo.com.cn).
II. Impact of the Cancellation of Stock Options on the Company
The cancellation of stock options will not affect the Company’s financial status and operational performance. The management team will continue to work diligently to create value for shareholders.
III. Opinions of the Audit Committee
The audit committee believes that the cancellation of stock options under the 2024 stock option incentive plan complies with the Company’s regulations and relevant laws.
IV. Opinions of the Legal Advisor
The legal advisor believes that the cancellation of stock options under the 2024 stock option incentive plan is necessary and complies with relevant laws and regulations.