On October 22, 2025, the board of directors of Jiangsu Lopal Tech. Group Co., Ltd. (Stock Code: 2465) passed a resolution to propose the 2025 Share Option Incentive Scheme. Under this proposal, 6,850,000 share options (approximately 1% of the total share capital at the time of the A Share announcement) would be granted to a total of 300 participants, including executive directors, senior management, middle managers, and core technical and business personnel.

Each option, upon satisfaction of specified conditions, would entitle the holder to acquire one A Share of the company at an exercise price of RMB15.35. The exercise periods are set at 16 months and 28 months following the date of grant, subject to both corporate-level and individual-level performance targets. For the corporate-level targets, based on 2025 revenue, the required revenue growth is 10% for 2026 and 20% for 2027; any shortfall cancels unexercised options for that year. In addition, options would typically lapse if participants leave under certain circumstances or fail their individual appraisals. The total validity period for option exercise would not exceed 48 months from the grant date.

Company-level conditions for granting or exercising the options include no adverse or disclaimer audit opinions for the most recent financial year, among others. Any option that remains unexercised after the final exercise window would be cancelled. The proposal also covers adjustments to option quantity and exercise price in instances of corporate actions like share subdivisions or rights issues.

The final adoption of the 2025 Share Option Incentive Scheme is subject to approval at an upcoming extraordinary general meeting. A circular with details on the proposed plan and related voting arrangements will be published by the company in due course.