Shenzhen Xinyuan Material Technology Co., Ltd. (hereinafter referred to as "the Company") and all members of the Board of Directors guarantee that the content of this information disclosure is true, accurate, and complete, without false records, misleading statements, or major omissions.
On March 30, 2026, the Company held the 24th meeting of the 6th Board of Directors, where it reviewed and approved the proposal regarding the invalidation of certain granted but unvested restricted stocks in the second vesting period of the 2023 incentive plan. According to the relevant provisions of the "2023 Restricted Stock Incentive Plan (Draft)" (hereinafter referred to as "the Incentive Plan"), due to the failure to meet the performance assessment at the company level for the second vesting period, and the departure of one incentive recipient for personal reasons, the Board of Directors agreed to invalidate 1.245 million restricted stocks that had been granted but not yet vested.
According to the authorization from the Company's third extraordinary general meeting of shareholders in 2023, this invalidation of granted but unvested restricted stocks does not require submission for shareholder meeting review. The relevant matters are announced as follows:
I. Approval Procedures for the Incentive Plan
On October 24, 2023, the Company held the 40th meeting of the 5th Board of Directors and the 36th meeting of the 5th Supervisory Board, where it reviewed and approved proposals regarding the "2023 Restricted Stock Incentive Plan (Draft)" and its summary, the "Implementation Assessment Management Measures for the 2023 Restricted Stock Incentive Plan," and the proposal to authorize the Board of Directors to handle matters related to the 2023 Restricted Stock Incentive Plan. The independent directors expressed their agreement with independent opinions.
From October 25 to November 3, 2023, the Company publicly announced the names and positions of the initial incentive recipients internally. During the announcement period, the Supervisory Board did not receive any objections regarding the proposed incentive recipients and disclosed the "Supervisory Board's Explanation and Verification Opinion on the Public Announcement of the Initial Incentive Recipients List for the 2023 Restricted Stock Incentive Plan" on November 3, 2023.