Newtiger: Announcement on the cancellation of some of the restricted shares that have been granted but have not vested in the company’s 2023 restricted stock incentive plan
Securities code: 301229 Securities abbreviation: Newtiger Announcement number: 2026-057
Jiangsu Newtech Technology Group Co., Ltd.
Regarding the cancellation of the company’s 2023 restricted stock incentive plan
Announcement on some of the restricted stocks that have been granted but have not yet vested
The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete, and contains no false records, misleading statements or major omissions.
Jiangsu Newtech Technology Group Co., Ltd. (hereinafter referred to as the "Company") held the fifth meeting of the fourth session of the Board of Directors on September 28, 2026, and reviewed and approved the "Proposal on Abolition of Part of the Company's 2023 Restricted Stock Incentive Plan for Restricted Stocks that have not yet vested". The relevant information is hereby announced as follows:
1. The relevant approval procedures for this incentive plan have been fulfilled
On September 11, 2023, the company held the ninth meeting of the third board of directors, which reviewed and approved the "Proposal on the Company's <2023 Restricted Stock Incentive Plan (Draft)> and its Summary", "Proposal on the Company's <2023 Restricted Stock Incentive Plan Implementation Assessment and Management Measures>" and "Requesting the Company's General Meeting of Shareholders to Authorize the Board of Directors to Handle the 2023 Restricted Stock Incentive Plan" "Proposal on Matters Relevant to the Restricted Stock Incentive Plan in 2023" and other related proposals, the directors who were intended to be the incentive objects abstained from voting on the above proposals, the company's independent directors issued independent opinions in agreement, and Shanghai Tongli Law Firm issued a legal opinion. The independent director Mr. Xiong Shouchun served as the collector to solicit voting rights from all shareholders of the company on the proposals related to this incentive plan to be considered at the company's fourth extraordinary general meeting of shareholders in 2023.
On September 11, 2023, the company held the seventh meeting of the third board of supervisors, and reviewed and approved the "Proposal on the Company's <2023 Restricted Stock Incentive Plan (Draft)> and its Summary", the "Proposal on the Company's <2023 Restricted Stock Incentive Plan Implementation Assessment and Management Measures>", the "Proposal on Verifying the Company's <2023 Restricted Stock Incentive Plan List of Incentive Objects>" and other relevant proposals.
From September 11, 2023 to September 20, 2023, the company announced the names and positions of the recipients of this incentive plan within the company. During the public announcement period, the company’s Board of Supervisors did not receive any objections from the persons on the list of persons to be encouraged by this incentive plan. After the expiration of the publicity period, the Board of Supervisors explained and issued verification opinions on the disclosure of the list of incentive objects granted to this incentive plan on September 21, 2023. On the same day, the company disclosed the "Explanation of the Board of Supervisors' Review and Disclosure of the List of Incentive Objects of the 2023 Restricted Stock Incentive Plan" and the "Self-examination Report on the Purchase and Sale of Company Stocks by Insiders of the 2023 Restricted Stock Incentive Plan and the Incentive Objects."
On September 27, 2023, the company held the fourth extraordinary general meeting of shareholders in 2023, which reviewed and approved the "Proposal on the Company's <2023 Restricted Stock Incentive Plan (Draft)> and its Summary", "The Proposal on the Company's <2023 Restricted Stock Incentive Plan Implementation Assessment Management Measures>" and "The Proposal on Requesting the Company's General Meeting of Shareholders to Authorize the Board of Directors to Handle Matters Related to the 2023 Restricted Stock Incentive Plan".
On September 27, 2023, the company held the 10th meeting of the third board of directors and the 8th meeting of the third board of supervisors, and reviewed and approved the "Proposal on Granting Restricted Stocks to Incentive Objects of the 2023 Restricted Stock Incentive Plan". The directors who were intended to be the incentive objects abstained from voting on the above motion. The company's independent directors expressed their consent and independent opinions on related matters. The Supervisory Board verified and issued verification opinions on the list of incentive objects granted under this incentive plan and the awarding arrangements and other related matters.
On September 27, 2024, the company held the 18th meeting of the third board of directors and the 14th meeting of the third board of supervisors, and reviewed and approved the "Proposal on Adjusting the Grant Price and Quantity of the Company's 2023 Restricted Stock Incentive Plan", "The Proposal on the Achievements of the Attribution Conditions of the First Vesting Period of the Company's 2023 Restricted Stock Incentive Plan" and "The Proposal on Voiding the Partially Granted Restricted Stocks that have not yet vested in the Company's 2023 Restricted Stock Incentive Plan." Related directors have abstained from voting on relevant proposals. The Company's Remuneration and Assessment Committee reviewed the conditional achievements of this vesting and the list of vested incentive objects and issued an agreed verification opinion. The Board of Supervisors also reviewed relevant matters and issued an agreed verification opinion. Shanghai Tongli Law Firm issued a legal opinion.
On September 29, 2025, the company held the 29th meeting of the third board of directors, and reviewed and approved the "Proposal on Adjusting the Grant Price and Quantity of the Company's 2023 Restricted Stock Incentive Plan", "The Proposal on the Achievements of the Attribution Conditions for the Second Vesting Period of the Company's 2023 Restricted Stock Incentive Plan" and "The Proposal on Voiding the Partially Granted Restricted Stocks that have not yet vested in the Company's 2023 Restricted Stock Incentive Plan." Related directors have abstained from voting on relevant proposals. The Company's Remuneration and Assessment Committee reviewed the conditional achievements of this vesting and the list of vested incentive objects and issued an agreed verification opinion. The Audit Committee also reviewed relevant matters and issued an agreed verification opinion. Shanghai Tongli Law Firm issued a legal opinion.
On September 28, 2026, the company held the fifth meeting of the fourth session of the Board of Directors, and reviewed and approved the "Proposal on Adjusting the Grant Price of the Company's 2023 Restricted Stock Incentive Plan", "The Proposal on the Achievements of the Attribution Conditions of the Third Vesting Period of the Company's 2023 Restricted Stock Incentive Plan" and "The Proposal on Canceling the Partially Granted Restricted Stocks that have not yet vested in the Company's 2023 Restricted Stock Incentive Plan". Related directors have abstained from voting on relevant proposals. The Company's Remuneration and Assessment Committee reviewed the conditional achievements of this vesting and the list of vested incentive objects and issued an agreed verification opinion. The Audit Committee also reviewed relevant matters and issued an agreed verification opinion. Shanghai Tongli Law Firm issued a legal opinion.
2. Description of the cancellation of some restricted stocks this time
According to the relevant provisions of the "Measures for the Administration of Equity Incentives for Listed Companies" and the company's "2023 Restricted Stock Incentive Plan (Draft)", 15 of the incentive objects granted by the company's 2023 restricted stock incentive plan are no longer eligible for the incentive due to resignation. Among them, 5 incentive objects resigned before entering the first vesting period, and their granted stocks have been invalidated by the company; 7 If one of the incentive targets resigned before entering the second vesting period, their restricted stocks that had been granted but not yet vested have been invalidated by the company; another three incentive targets resigned before entering the third vesting period, and their 109,760 restricted stocks that have been granted but have not yet vested cannot be vested and are invalidated by the company. In addition, the individual-level assessment results of 17 incentive objects in the third vesting period were B (good), and the corresponding vesting ratio was 80%. The 159,936 shares corresponding to the restricted stocks that had been granted but not yet vested by these incentive objects cannot be vested and were treated as invalid by the company; the assessment results of the remaining 8 incentive objects were A (excellent), and the individual-level vesting ratio was 100%; a total of 269,696 shares were voided this time. According to the authorization of the company's fourth extraordinary general meeting of shareholders in 2023, the above adjustments are matters within the scope of authorization and can be approved by the company's board of directors without being submitted to the shareholders' meeting again for review.
3. The impact of the cancellation of some restricted stocks on the company
The company's cancellation of some restricted stocks this time will not have a substantial impact on the company's financial status and operating results, nor will it affect the stability of the company's management team, nor will it affect the continued implementation of the company's equity incentive plan.
4. Review status of the Remuneration and Appraisal Committee of the Board of Directors
After deliberation, the Remuneration and Assessment Committee of the Board of Directors believes that the company's canceled 2023 restricted stock incentive plan has partially granted restricted shares that have not yet vested, which is in compliance with the "Equity Incentive Management Measures for Listed Companies", the company's "2023 Restricted Stock Incentive Plan (Draft)", the company's "2023 Restricted Stock Incentive Plan" "Restricted Stock Incentive Plan Implementation Assessment Management Measures" and other relevant regulations have fulfilled necessary procedures, are legal and effective, and will not have an adverse impact on the company's financial status and operating results, nor will it harm the interests of the company and shareholders. All members unanimously agreed that the company would treat the 269,696 Class II restricted shares that had been granted but not yet vested as invalid.
5. Review status of the Audit Committee of the Board of Directors
After deliberation, the Audit Committee of the Board of Directors believes that the company's cancellation of the 2023 Restricted Stock Incentive Plan, which has partially granted unvested restricted shares, complies with relevant regulations such as the "Equity Incentive Management Measures for Listed Companies", the company's "2023 Restricted Stock Incentive Plan (Draft)", the company's "2023 Restricted Stock Incentive Plan Implementation Assessment Management Measures" and other relevant regulations. It has fulfilled necessary procedures, is legal and effective, and will not have an adverse impact on the company's financial status and operating results, nor will it harm the interests of the company and shareholders. All members unanimously agreed that the company would treat the 269,696 Class II restricted shares that had been granted but not yet vested as invalid.
6. Concluding opinions of the legal opinion
As of the date of issuance of this legal opinion, the company has obtained the necessary authorization and approval for this adjustment, this vesting and this invalidation at this stage, and is in compliance with the relevant provisions of the "Administrative Measures", "Listing Rules", "Self-Regulatory Guidelines No. 1" and "Restricted Stock Incentive Plan". This adjustment of the company complies with the relevant provisions of the "Administrative Measures", "Listing Rules", "Self-Regulatory Guidelines No. 1" and the "Restricted Stock Incentive Plan"; the vesting conditions for the third vesting period of the restricted stocks of the company's incentive plan have been met, and complies with the relevant provisions of the "Administrative Measures", "Listing Rules", "Self-Regulatory Guidelines No. 1" and the "Restricted Stock Incentive Plan"; the reason and quantity of the company's cancellation are in compliance with the "Administrative Measures", "Listing Rules" and "Self-Regulatory Guidelines No. 1" No. 1" and the relevant provisions of the "Restricted Stock Incentive Plan". The company still needs to fulfill corresponding information disclosure obligations in accordance with relevant laws, regulations and normative documents.
7. Documents for reference
Resolution of the fifth meeting of the fourth board of directors of Jiangsu Newtech Technology Group Co., Ltd.
Resolution of the second meeting of the Remuneration and Assessment Committee of the 4th Board of Directors of Jiangsu Newtech Technology Group Co., Ltd.
Resolution of the fourth meeting of the Audit Committee of the fourth board of directors of Jiangsu Newtech Technology Group Co., Ltd.
Shanghai Tongli Law Firm’s legal opinion on the adjustment of the grant price of Jiangsu Newtech Technology Group Co., Ltd.’s 2023 restricted stock incentive plan, the achievement of vesting conditions in the third vesting period, and the invalidation of some of the restricted stocks that have been granted but have not yet vested.
Announcement is hereby made.
Board of Directors of Jiangsu Newtech Technology Group Co., Ltd.
September 28, 2026