Lexin Medical: Indicative announcement regarding the expiration of the second lock-up period of the Employee Stock Ownership Plan in 2024
Lexin Medical 2026 Announcement
Securities code: 300562 Securities abbreviation: Lexin Medical Announcement number: 2026-070
Guangdong Lexin Medical Electronics Co., Ltd.
Indicative announcement regarding the expiration of the second lock-up period of the Employee Stock Ownership Plan in 2024
The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete, and that there are no false records, misleading statements or major omissions.
The second lock-in period of the 2024 Employee Stock Ownership Plan (hereinafter referred to as the “Employee Stock Ownership Plan”) of Guangdong Lexin Medical Electronics Co., Ltd. (hereinafter referred to as the “Company”) will expire on July 11, 2026. In accordance with the "Guiding Opinions on the Pilot Implementation of Employee Stock Ownership Plans by Listed Companies", "Shenzhen Stock Exchange Self-Regulatory Guidelines for Listed Companies No. 2 - Standardized Operation of GEM Listed Companies" and the relevant regulations of the Employee Stock Ownership Plan, the expiration and unlocking status of the second lock-in period of the Employee Stock Ownership Plan are hereby announced as follows:
1. Basic information of the employee stock ownership plan
(1) Approval status of the employee stock ownership plan
On April 10, 2024, the company held the 14th meeting of the fourth board of directors, the 13th meeting of the fourth board of supervisors, and on May 15, 2024, the company held the first extraordinary shareholders' meeting of 2024, which reviewed and approved the "Proposal on the <2024 Employee Stock Ownership Plan (Draft)> and its Summary" and the "Proposal on the <2024 Employee Stock Ownership Plan Management Measures>" and other proposals.
On May 15, 2024, the company held the 16th meeting of the fourth board of directors and the 15th meeting of the fourth board of supervisors, and reviewed and approved the "Proposal on Adjusting the Purchase Price of the Employee Stock Ownership Plan in 2024". The company implemented the 2023 equity distribution plan from the announcement date of the draft employee stock ownership plan to the completion of the share transfer of the employee stock ownership plan. According to relevant regulations, the company will 2024 The annual employee stock ownership plan purchase and repurchase price for shares was adjusted from 4.58 yuan/share to 4.43 yuan/share.
On July 11, 2024, the company transferred 1,500,000 shares in the "Special Securities Account for Repurchase of Guangdong Lexin Medical Electronics Co., Ltd." to the special securities account for employee stock ownership "Guangdong Lexin Medical Electronics Co., Ltd. - 2024 Employee Stock Ownership Plan" through non-trading transfer. The transfer amount accounted for 0.69% of the company's current total share capital, and the transfer price was 4.43 yuan/share.
Lexin Medical 2026 Announcement
On May 22, 2025, the company held the 24th meeting of the fourth board of directors, and reviewed and approved the "Announcement on the Achievement of Unlocking Conditions for the First Lock-up Period of the Employee Stock Ownership Plan in 2024" and other proposals; the lawyer issued a corresponding legal opinion.
On June 11, 2026, the company held the 13th meeting of the fifth board of directors, which reviewed and approved the "Proposal on the Achievement of Unlocking Conditions for the Second Lock-up Period of the Employee Stock Ownership Plan in 2024" and other proposals; the lawyer issued a corresponding legal opinion.
(2) Implementation of the Employee Stock Ownership Plan
The total amount of funds actually raised by this employee stock ownership plan was RMB 6,645,000.00, the total number of actual subscription shares was 6,645,000 shares, and the actual number of contributors was 15. On July 11, 2024, the company transferred 1,500,000 shares in the "Guangdong Lexin Medical Electronics Co., Ltd. Repurchase Special Securities Account" to the special employee stock ownership securities account "Guangdong Lexin Medical Electronics Co., Ltd. - 2024 Employee Stock Ownership Plan" through non-trading transfer. The transfer amount accounted for 0.69% of the company's total share capital at that time, and the transfer price was 4.43 yuan/share.
The first lock-in period of the employee stock ownership plan has expired on July 11, 2025. Based on the company-level performance assessment and the completion of the holder's individual-level performance assessment indicators, the company has unlocked 50% of the total number of underlying stocks held by the employee stock ownership plan, that is, 750,000 shares have been unlocked. So far, this part of the stock has been sold by the Employee Stock Ownership Plan Management Committee in accordance with relevant regulations and the equity distribution has been completed.
(3) Duration and lock-in period of the employee stock ownership plan
According to the relevant provisions of the Employee Stock Ownership Plan, the duration of the Employee Stock Ownership Plan is 48 months and is unlocked in two phases. The lock-in periods are 12 months and 24 months respectively. On the premise of meeting relevant assessment conditions, the unlocking ratio for each period is 50%. The specific unlocking ratio and quantity for each period are calculated and determined based on the achievement of the company's current performance goals and the holder's personal assessment results.
- Expiration of the second lock-in period of the employee stock ownership plan, achievement of performance appraisal and follow-up arrangements
(1) Expiration of the lock-in period
According to the relevant provisions of the Employee Stock Ownership Plan, the second lock-in period of the Employee Stock Ownership Plan will be in July 2026.
Lexin Medical’s announcement will expire on March 11, 2026.
(2) Achievements in performance appraisal during the second lock-up period
The performance assessment of the company's employee stock ownership plan includes performance assessment at the company level and individual level. The specific assessment indicators are as follows:
(1) Performance appraisal at the company level:
The company-level performance evaluation indicators of this employee stock ownership plan are as follows:
Unlock period performance appraisal requirements
In the first unlocking period, net profit reaches RMB 50 million in 2024
In the second unlocking period, net profit reaches RMB 80 million in 2025
Note: The above-mentioned "net profit" refers to the audited net profit attributable to shareholders of listed companies, but the value excluding the impact of share-based payment expenses of this and other equity incentive plans or employee stock ownership plans is used as the basis for calculation.
After auditing, the company's net profit attributable to shareholders of listed companies in 2025 was 81.9991 million yuan; the impact of share-based payment expenses in this period was 9.1693 million yuan, and the actual performance after excluding share-based payment expenses was 91.1684 million yuan. The company's performance level in this period has reached the assessment target.
(2) Performance appraisal at the individual level:
The assessment at the individual level of the holder is carried out in accordance with the company's internal performance assessment related systems. The holder's personal assessment and evaluation results are divided into five levels: "Excellent", "Good", "Qualified", "To be improved", and "Unqualified". The respective corresponding lifting coefficients are as shown in the table below.
Evaluation results Excellent Good Qualified Needs improvement Unqualified Unlocking coefficient 90%-100% 70%-89% 50%-69% 0% On the premise that the company's performance goals are achieved, the actual number of rights and interests that the holder can unlock in the current year = the number of individuals planned to unlock in the current year × the individual-level unlocking coefficient.
According to relevant regulations, the company assessed the personal performance of the holders of the employee stock ownership plan in 2025 and issued the assessment results. The assessments of the holders of the second lock-up period of the employee stock ownership plan were all "good" or "excellent"
"Lexin Medical 2026 Announcement Show", there is no situation where individual assessment fails to meet the standards.
In summary, the company-level performance assessment and the holder's individual-level performance assessment indicators for the second lock-up period of the employee stock ownership plan have been completed, which is in line with the provisions of the company's 2024 employee stock ownership plan and can be unlocked on schedule; the company will unlock 50% of the total number of underlying stocks held by the employee stock ownership plan this time, and the number of unlocked shares is 750,000 shares, accounting for 0.34% of the company's current total share capital.
(3) Follow-up arrangements
According to the relevant regulations of the Employee Stock Ownership Plan, the second lock-in period will expire on July 11, 2026. After expiration, the Management Committee of the Employee Stock Ownership Plan will choose an opportunity to make disposals based on relevant regulations and market conditions. This employee stock ownership plan will strictly abide by market trading rules and comply with the regulations of the China Securities Regulatory Commission and Shenzhen Stock Exchange on the prohibition of buying and selling stocks during the information-sensitive period. The company's stocks are not allowed to be bought or sold during the following periods:
Within 15 days before the company's annual report or semi-annual report is announced, if the announcement date is postponed due to special reasons, the calculation will start from the 15 days before the original scheduled announcement date;
Within five days before the announcement of the company’s quarterly report, performance forecast, and performance bulletin;
From the date of the occurrence of major events that may have a greater impact on the trading prices of the company's stocks and its derivatives or the date of entry into the decision-making process to the date of disclosure in accordance with the law;
Other periods specified by the China Securities Regulatory Commission and Shenzhen Stock Exchange.
The above-mentioned "major events" are transactions or other major matters that the company should disclose in accordance with the provisions of the Listing Rules.
3. Changes and termination of the employee stock ownership plan
(1) Changes to the employee stock ownership plan
During the duration of the employee stock ownership plan, changes to the employee stock ownership plan must be approved by more than 1/2 (inclusive) of the shares held by the holders attending the holders' meeting and submitted to the company's board of directors for review and approval before implementation.
(2) Termination of the employee stock ownership plan
- This employee stock ownership plan will terminate automatically if it is not extended at the expiration of the duration.
Lexin Medical 2026 Announcement
After the lock-in period of the employee stock ownership plan expires, when all the stocks held by the employee stock ownership plan are sold or transferred out and the monetary assets (if any) under the employee stock ownership plan have been fully liquidated and distributed, the employee stock ownership plan can be terminated early.
One month before the expiration of the duration of the employee stock ownership plan, if all the company stocks held have not been sold or transferred to the share holders of the employee stock ownership plan, the duration of the employee stock ownership plan can be extended with the consent of more than 1/2 (inclusive) of the shares held by the holders attending the holders' meeting and submission to the company's board of directors for review and approval.
If the company's stocks held by the employee stock ownership plan cannot be sold or transferred to the share holders of the employee stock ownership plan before the expiration of the upper limit of the duration due to suspension of trading of the company's stocks or information sensitive periods, etc., the duration of the employee stock ownership plan can be extended with the consent of more than 1/2 (inclusive) of the shares held by the holders attending the holders' meeting and submission to the company's board of directors for review and approval.
4. Other instructions
The company will continue to pay attention to the implementation progress of the employee stock ownership plan and timely fulfill its information disclosure obligations in accordance with relevant laws and regulations. Investors are advised to pay attention to investment risks.
Announcement is hereby made.
Board of Directors of Guangdong Lexin Medical Electronics Co., Ltd.
July 10, 2026