Maoyan Entertainment (01896) has granted 1.31 million restricted share units (RSUs) to selected employees under its 2018 Restricted Share Unit Scheme (amended June 2023), according to a filing with the Hong Kong Stock Exchange on 20 July 2026. The award is structured as follows:

• Scale of Grant: 1,312,505 RSUs, equivalent to approximately 0.11% of Maoyan’s total issued share capital as of the grant date. • Pricing Reference: No purchase cost for grantees. The company’s shares closed at HK$5.09 on the grant date, versus a five-day average close of HK$5.20. • Vesting Schedule: 25% of the RSUs will vest on each anniversary of the grant date over four years (2027–2030). • Clawback Provisions: Unvested RSUs lapse if employment ends, the company is wound up, transfer restrictions are breached, vesting conditions go unmet, or the board/CEO decides otherwise. Both vested and unvested units may be forfeited for misconduct, material breach, or actions detrimental to the group. • Beneficiary Profile: All grantees are employees; none are directors, chief executives, or substantial shareholders. No individual exceeds the 1% award limit stipulated by HKEX rules, so shareholder approval is not required. • Scheme Capacity: Post-grant, 12.77 million shares remain available for future awards. • Performance Metrics: The RSUs have no attached performance targets, which management states aligns with prevailing market practice and supports staff retention.

The company emphasizes that the awards aim to align employee interests with shareholders, incentivise performance, and enhance long-term retention. No financial assistance has been provided to participants for share acquisition.