The company and all members of the board guarantee that the information disclosed is true, accurate, and complete, with no false records, misleading statements, or significant omissions.
Important Content Reminder:
- The number of shares to be vested in the second category of the initial grant is 6,174,000 shares, involving 160 incentive recipients, with a grant price of 3.48 yuan/share (adjusted).
- The number of shares to be vested in the reserved grant is 840,000 shares, involving 21 incentive recipients, with a grant price of 3.48 yuan/share (adjusted).
- The source of the shares for this vesting is the company's directed issuance of A-shares to the incentive recipients.
Shuanglin Co., Ltd. (hereinafter referred to as "the Company") has confirmed that the vesting conditions for the second vesting period of the initial grant and the first vesting period of the reserved grant under the 2024 Restricted Stock Incentive Plan (hereinafter referred to as "the Incentive Plan") have been achieved. Based on the authorization from the Company's first extraordinary general meeting of 2024, the Company held the 28th meeting of the 7th Board of Directors on May 25, 2026, and approved the proposal regarding the achievement of vesting conditions. The relevant matters are announced as follows:
I. Approval and Implementation of the Incentive Plan
(1) Main Content of the Equity Incentive Plan
The draft of the "2024 Restricted Stock Incentive Plan" (hereinafter referred to as "the Draft Plan") and its summary have been approved by the 3rd meeting of the 7th Board of Directors, the 2nd meeting of the 7th Supervisory Board, and the first extraordinary general meeting of 2024. The main content is as follows:
- Incentive Method: Second category of restricted stock.
- Grant Quantity: The total number of restricted stocks granted is 17,170,000 shares, accounting for 4.28% of the total share capital of 400,769,200 shares at the time of the announcement. Among them, the initial grant is 15,970,000 shares, accounting for 93.01% of the total rights to be granted, and 3.99% of the total share capital; the reserved grant is 1,200,000 shares, accounting for 6.99% of the total rights to be granted, and 0.30% of the total share capital.
- Grant Price: 5.21 yuan/share (before adjustment), meaning that upon meeting the grant and vesting conditions, the incentive recipients can purchase the granted restricted stocks at the price of 5.21 yuan/share (before adjustment). The grant price for the reserved restricted stocks is the same as that for the initial grant.
- Number of Incentive Recipients: The total number of recipients for the initial grant is 167, including directors, senior management, middle management, and key personnel at the Company and its subsidiaries at the time of the announcement.
- Vesting Schedule and Arrangement: The vesting schedule for the initial grant of restricted stocks is as follows:
| Vesting Arrangement | Vesting Period | Vesting Ratio |
|---|---|---|
| First Vesting Period | From the first trading day after 12 months from the initial grant to the last trading day within 24 months from the initial grant | 40% |
| Second Vesting Period | From the first trading day after 24 months from the initial grant to the last trading day within 36 months from the initial grant | 30% |
| Third Vesting Period | From the first trading day after 36 months from the initial grant to the last trading day within 48 months from the initial grant | 30% |
- Vesting Conditions for the Initial Grant:
- Company-Level Performance Assessment: The assessment period for the initial grant is the three accounting years from 2024 to 2026, with performance targets for each year as shown in the table below: