Gelonghui November 14th 丨Xinyan Co., Ltd. (300159.SZ) announced the 2023 restricted stock incentive plan (draft). This incentive plan plans to grant a total of 30.0 million restricted shares to incentive recipients, accounting for 2.04% of the company's total share capital on the date of the announcement of the draft incentive plan. Among them, 27 million shares were granted for the first time, accounting for 90.00% of the total shares to be granted, accounting for 1.83% of the total share capital of the company on the date of the announcement of the draft incentive plan; the reserved grant of 300,000 shares, accounting for 10.00% of the total shares to be granted, accounting for 0.20% of the total share capital of the company on the date of the announcement of the draft incentive plan.

The grant price for the initial and reserved restricted shares of this incentive plan is $1.42 per share.

For the first time, this incentive plan grants no more than 114 incentives to no more than 114 people, including company directors, senior management, core technical personnel or core business personnel of the company (including subsidiaries), and other employees that the company believes should be incentivized and have a direct impact on the business performance and future development of the company (including subsidiaries), excluding the company's independent directors and supervisors.

The maximum period of validity of this incentive plan is not more than 60 months from the date the registration of the first restricted stock grant is completed until the date the restrictions on sale of all restricted shares granted to the incentive target are lifted or repurchased and cancelled.