Graphex Group, a new materials holding company for electric automobiles, issued an announcement on July 29, 2024, supplementing its annual report information for the year ended December 31, 2023. The announcement detailed the implementation of the stock incentive plan in 2023, which awarded 68,349,307 shares of stock incentives to several grant recipients in that year, including 15,094,797 shares granted to directors and senior executives. The stock incentive plan is designed to attract and retain talent without setting performance targets, but with a general return mechanism. The remuneration committee believes that, despite the short attribution period and limited return mechanism, the plan can still motivate grant recipients to work hard for the future development of the company. The announcement was issued by the company's chairman, Liu Xingda, and indicated that this supplementary announcement should be read together with the annual report.

Graphex Group, a new materials holding company for electric automobiles, issued an announcement on July 29, 2024, supplementing its annual report information for the year ended December 31, 2023. The announcement detailed the implementation of the stock incentive plan in 2023, which awarded 68,349,307 shares of stock incentives to several grant recipients in that year, including 15,094,797 shares granted to directors and senior executives. The stock incentive plan is designed to attract and retain talent without setting performance targets, but with a general return mechanism. The remuneration committee believes that, despite the short attribution period and limited return mechanism, the plan can still motivate grant recipients to work hard for the future development of the company. The announcement was issued by the company's chairman, Liu Xingda, and indicated that this supplementary announcement should be read together with the annual report.