Important Content Reminder:
- Number of restricted shares vested this time: 18.3869 million shares, involving 590 participants
- Listing date for the vested restricted shares: June 5, 2026, with a circulation quantity of 18.3869 million shares, accounting for approximately 1.4516% of the total share capital before vesting of 1,266.6478 million shares.
Kunlun Wanwei Technology Co., Ltd. (hereinafter referred to as "the Company" or "Kunlun Wanwei") held the 43rd meeting of the 5th Board of Directors on May 14, 2026, to review and approve the proposal on the achievement of the vesting conditions for the first vesting period of the 2025 Restricted Stock Incentive Plan. The Company has recently completed the share registration for the first vesting period of the 2025 Restricted Stock Incentive Plan, and the specific situation is announced as follows:
I. Approval and Implementation of the Equity Incentive Plan
(1) Main Content of the Equity Incentive Plan
- Incentive method: Class II restricted stock.
- Number of shares granted: The number of restricted shares granted under this incentive plan is 67.574467 million shares, accounting for approximately 5.4872% of the total share capital of 1,231.495054 million shares at the time of the announcement of the draft incentive plan.
- Grant price: 18.79 yuan/share, meaning that after meeting the grant and vesting conditions, the participants can purchase the newly issued A-shares at a price of 18.79 yuan per share.
- Number of participants: A total of 714 people, who are core technical personnel of the Company.
- Vesting period and arrangement: The vesting period and arrangement for the restricted shares granted under this incentive plan are as follows:
| Vesting Arrangement | Vesting Time | Percentage of Total Granted Rights |
|---|---|---|
| First Vesting Period | From the first trading day after 12 months from the grant date to the last trading day within 24 months from the grant date | 33% |
| Second Vesting Period | From the first trading day after 24 months from the grant date to the last trading day within 36 months from the grant date | 33% |
| Third Vesting Period | From the first trading day after 36 months from the grant date to the last trading day within 48 months from the grant date | 34% |
- Employment duration and performance assessment requirements:
(1) The employment duration requirement for the vested rights of the participants is that the restricted shares granted must meet a minimum employment duration of over 12 months before vesting.
(2) Company-level performance assessment: The assessment years for this incentive plan are the three accounting years of 2025-2027, with assessments conducted annually. The performance assessment targets for each vesting period are as follows:
| Vesting Period | Performance Assessment Target |
|---|---|
| First Vesting Period | The Company’s revenue in 2025 shall not be less than 6.5 billion yuan; |
| Second Vesting Period | The cumulative revenue for 2025 and 2026 shall not be less than 13.5 billion yuan; |
| Third Vesting Period | The cumulative revenue for 2025, 2026, and 2027 shall not be less than 21 billion yuan. |
Note: The above "revenue" refers to the revenue in the audited consolidated financial statements of the listed company. If the performance assessment targets are not met during the vesting period, all restricted shares planned for vesting for the corresponding assessment year will be canceled and rendered invalid.
(3) Individual performance assessment requirements for participants: The performance evaluation results are generally divided into four levels (A, B, C, and D), and the assessment evaluation table applies to the assessment subjects. The vesting ratio for participants will be determined according to the following table: