KUANGCHI (00439) announced that the share option scheme adopted on July 31, 2012, has expired on July 30, 2022, marking its ten-year anniversary. Following the expiration of the 2012 share option scheme, no further share options can be presented or granted. As of the date of this announcement, there are a total of 1,314,000 share options remaining unexercised under the 2012 share option scheme, which will continue to remain valid and exercisable within the exercise period defined by the scheme. In light of the expiration of the 2012 share option scheme, the board recommends the adoption of a new share option scheme in accordance with Chapter 17 of the Listing Rules, to incentivize or reward participants for their contributions or potential contributions to the growth and development of the Group.