Newborntown Technology Limited ("Newborntown") announced on July 23, 2024 that its board of directors has approved the revised Restricted Share Unit Incentive Plan, increasing the cap on the number of shares from 3% to 10% of the issued share capital. The move aims to further motivate the Group's directors (excluding independent non-executive directors), senior management, senior employees and consultants by providing equity opportunities, and to attract and retain technically skilled and experienced talent to support the Group's continued operation and development. The revised incentive plan will not involve the issuance of new shares, but will use the Company's existing shares. The board of directors stated that the revised incentive plan does not constitute a share plan involving the issuance of new shares under Chapter 17 of the Listing Rules of the Hong Kong Stock Exchange. This revision is based on the board of directors' careful consideration and assessment and will not affect the rights of any existing participants of the incentive plan.

Newborntown Technology Limited ("Newborntown") announced on July 23, 2024 that its board of directors has approved the revised Restricted Share Unit Incentive Plan, increasing the cap on the number of shares from 3% to 10% of the issued share capital. The move aims to further motivate the Group's directors (excluding independent non-executive directors), senior management, senior employees and consultants by providing equity opportunities, and to attract and retain technically skilled and experienced talent to support the Group's continued operation and development. The revised incentive plan will not involve the issuance of new shares, but will use the Company's existing shares. The board of directors stated that the revised incentive plan does not constitute a share plan involving the issuance of new shares under Chapter 17 of the Listing Rules of the Hong Kong Stock Exchange. This revision is based on the board of directors' careful consideration and assessment and will not affect the rights of any existing participants of the incentive plan.