BEIJING JIAYE (02210) announced that, in accordance with the rules of its Stock Appreciation Rights (SAR) Incentive Plan, a total of 3.42 million SARs from the initial grant (including 370,000 SARs held by three disqualified participants) and 400,000 SARs from the reserved grant will be cancelled as the exercise conditions were not met. Following the cancellation, the 3.42 million SARs (totaling 3.82 million) will become void and no longer exercisable.

The company expects that the cancellation will not have any material impact on its financial position or operating performance. Additionally, it will not affect the diligence of the management team, which remains committed to creating value for shareholders.