REG - Zhejiang Yongtai - Repurchase & Cancellation Of Restricted Shares

Zhejiang Yongtai Technology CoAnnouncement

30/10/2025 12:00

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RNS Number : 5403F  Zhejiang Yongtai Technology Co Ltd  30 October 2025

ZHEJIANG YONGTAI TECHNOLOGY CO., LTD.

(GDR under the symbol: "YTT")

(a joint stock company established under the laws of the People's Republic of
China with limited liability)

Announcement On The Completion Of Repurchase And Cancellation

 Of Certain Restricted Shares

Zhejiang Yongtai Technology Co., Ltd. (hereinafter referred to as the
"Company") has recently completed the repurchase and cancellation of certain
restricted shares under the 2024 Restricted Shares Incentive Scheme. The
relevant details are hereby announced as follows:

I. DETAILS OF THE REPURCHASE AND CANCELLATION OF THE RESTRICTED SHARES

Pursuant to the relevant provisions of the 2024 Restricted Shares Incentive
Scheme of Zhejiang Yongtai Technology Co., Ltd. (hereinafter referred to as
the "2024 Incentive Scheme"), The Company repurchased and cancelled 153,159
restricted shares which have been granted but not yet unlocked due to the
Company-level performance targets not being fully met, as well as 120,000
restricted shares which have been granted but not yet unlocked for four
participants who no longer qualified for unlocking, totaling 273,159
restricted shares which have been granted but not yet unlocked, and
representing 2.35% of the total restricted shares granted under the Incentive
Scheme and 0.03% of the Company's total share capital prior to the repurchase.
The repurchase price was RMB4.30 per share, consistent with the grant price.
The total funds used for the repurchase of restricted shares amounted to
RMB1,174,583.70, fully paid from the Company's own funds.

II. CAPITAL VERIFICATION BY THE ACCOUNTING FIRM AND COMPLETION OF THE
REPURCHASE AND CANCELLATION

BDO China Shu Lun Pan Certified Public Accountants LLP issued the Capital
Verification Report (XIN KUAI SHI BAO ZI  2025  No. ZF11245) on 23 October
2025. Upon verification, as of 15 October 2025, the Company has actually paid
an equity repurchase amount of RMB1,174,583.70, of which: share capital was
reduced by RMB273,159.00; capital reserve was reduced by RMB901,424.70.
Following the capital reduction, the Company's share capital was
RMB925,127,636.00, with capital reserves amounting to RMB1,365,418,532.09.

As of the date of this announcement, the Company has completed the repurchase
and cancellation procedures for the aforementioned restricted shares with
Shenzhen Branch of China Securities Depository and Clearing Corporation
Limited.

III. CHANGES IN THE SHARE CAPITAL STRUCTURE OF THE COMPANY BEFORE AND AFTER
THE REPURCHASE AND CANCELLATION

 Nature of share                                                         Before the                      Number of Shares Repurchased and Cancelled (share)  After the Change

                                                                         Change
                                                                         Number          Percentage (%)  Number                                                              Percentage (%)

                                                                         (share)                         (share)
 I. Tradable shares subject to trading restrictions/non-tradable shares  117,241,753.00  12.67           273,159.00                                          116,968,594.00  12.64
 Locked shares held by the senior management                             110,056,594.00  11.89           0.00                                                110,056,594.00  11.90
 Restricted shares under the share incentive scheme                      7,185,159.00    0.78            273,159.00                                          6,912,000.00    0.75
 II. Tradable shares not subject to trading restrictions                 808,159,042.00  87.33           0.00                                                808,159,042.00  87.36
 III. Total share capital                                                925,400,795.00  100.00          273,159.00                                          925,127,636.00  100

Note: The discrepancy between the total percentage in the table above and the
sum of its sub-items is due to rounding.

IV. IMPACT OF THE REPURCHASE AND CANCELLATION ON THE COMPANY

The repurchase and cancellation of certain restricted shares of the Company is
in accordance with the specific handling provisions for restricted shares that
no longer meet eligibility criteria under the 2024 Incentive Scheme. The
quantity of restricted shares repurchased and cancelled, along with the funds
used for repurchase, are relatively small, which will not have a significant
impact on the Company's financial position or operating results, nor will it
affect the motivation and stability of the Company's management team. The
management team will continue to act diligently and conscientiously in
fulfilling their duties, striving to create value for shareholders.

V. SUBSEQUENT ARRANGEMENT

Upon completion of the repurchase and cancellation, the Company will promptly
handle the relevant industrial and commercial registration changes and filing
procedures, including changes to the registered capital and amendments to the
Articles of Association, in accordance with the Company Law and other
applicable laws and regulations.

The Board of Directors

Zhejiang Yongtai Technology Co., Ltd.

30 October 2025

 

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