Securities Code: 300207
Securities Abbreviation: ONWARD
Announcement No.: <ONWARD>2026-059
ONWARD ELECTRONICS CO., LTD.
Announcement on Granting Restricted Shares and Stock Options to Incentive Objects under the 2026 Restricted Share and Stock Option Incentive Plan
The Company and all members of the Board of Directors guarantee the truthfulness, accuracy, and completeness of the information disclosed, and there are no false records, misleading statements, or material omissions.
Special Reminder:
● Grant Date of Restricted Shares / Authorization Date of Stock Options (Second Tranche): July 1, 2026
● Number of Restricted Shares Granted (Second Tranche): 51.68 million shares
● Number of Stock Options Granted: 12.92 million units
● Grant Price of Restricted Shares (Second Tranche): RMB 13.07 per share (adjusted)
● Exercise Price of Stock Options: RMB 26.22 per unit (adjusted)
ONWARD ELECTRONICS CO., LTD. (hereinafter referred to as the "Company" or "this Company")'s "2026 Restricted Share and Stock Option Incentive Plan (Draft)" (hereinafter referred to as the "Incentive Plan" or "this Incentive Plan") has met the vesting conditions. Pursuant to the authorization of the Company's 2026 Second Extraordinary General Meeting of Shareholders, the Sixth Board of Directors held its 28th meeting on July 1, 2026, and approved the "Proposal on Granting Restricted Shares and Stock Options to Incentive Objects under the 2026 Restricted Share and Stock Option Incentive Plan." It was determined that July 1, 2026, would be the grant date for the second tranche of restricted shares and the authorization date for stock options. With a grant price of RMB 13.07 per share, 51.68 million restricted shares will be granted to 1,536 eligible incentive objects. With an exercise price of RMB 26.22 per unit, 12.92 million stock options will be granted to 27 eligible incentive objects. The relevant matters are hereby described as follows:
I. Brief Introduction to the Incentive Plan
On June 16, 2026, the Company held its 2026 Second Extraordinary General Meeting of Shareholders, which approved the "Incentive Plan" and its summary. The main contents are as follows:
(I) Incentive Tools and Source of Shares
The incentive tools used in this Incentive Plan are the second tranche of restricted shares and stock options. The underlying shares involved are ordinary shares of Company A issued by the Company to the incentive objects through private placement.
(II) Grant Quantity: The total number of equity incentives (restricted shares and stock options) to be granted to incentive objects under this Incentive Plan shall not exceed 64.60 million shares, accounting for approximately 3.4967% of the Company's total share capital of 1,847.462446 million shares as of the announcement date of the draft incentive plan, as follows:
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Second Tranche Restricted Share Incentive Plan: The Company plans to grant 51.68 million restricted shares to incentive objects, accounting for approximately 2.7974% of the Company's total share capital of 184,746.2446 million shares as of the announcement date of the draft incentive plan. This incentive plan is a one-time grant with no reserved equity.
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Stock Option Incentive Plan: The Company plans to grant 12.92 million stock options to incentive objects, accounting for approximately 0.6993% of the Company's total share capital of 184,746.2446 million shares as of the announcement date of the draft incentive plan. This incentive plan is a one-time grant with no reserved equity.
(III) Incentive Objects: The total number of incentive objects for this Incentive Plan is 1,536, including directors, senior management personnel, and middle management personnel and core technical (business) backbones whom the Board of Directors deems necessary to incentivize, who are employed by the Company (including its subsidiaries) at the time of the announcement of this Incentive Plan. The incentive objects do not include independent directors, nor do they include shareholders or actual controllers who individually or collectively hold more than 5% of the Company's shares, or their spouses, parents, or children.
- The total number of incentive recipients for the second tranche restricted share incentive plan is 1,536. The situation of the incentive objects is shown in the table below: