Hi Sun Technology (China) Limited (Hi Sun Tech) on 27 May 2026 approved the grant of 64.27 million shares under its Share Award Scheme adopted on 29 June 2021. The grants, recommended by the Remuneration Committee and endorsed by the Board, are allocated entirely to five executive directors:
• Kui Man Chun (CEO): 31.00 million shares • Xu Wensheng (Chairman): 6.00 million shares • Li Wenjin: 13.00 million shares • Xu Changjun: 13.00 million shares • Hui Lok Yan: 1.27 million shares
The awards represent approximately 2.31 % of the company’s issued share capital.
Key terms and mechanics • Date of grant: 27 May 2026 • Purchase price payable by each grantee: HK$1 per share • Market price at grant: HK$0.425 per share (Stock Exchange closing price) • Vesting: 100 % on the grant date, subject to acceptance and HK$1 payment • Lock-up: No dealing allowed for 12 months post-vesting • Performance targets: None; awards recognise past and prospective contributions • Clawback: Awards lapse automatically under conditions such as cessation of employment (other than death or retirement), breach of contract, insolvency, or regulatory constraints.
Funding and dilution All 64.27 million shares were acquired by the scheme’s trustee in the open market using corporate funds previously allocated by the Board. Consequently, the grant does not entail any new share issuance and will not dilute existing shareholders’ stakes. After this transaction, 181.42 million shares remain available for future grants under the scheme.
Governance and regulatory position The grants were approved by the full Board, including independent non-executive directors; each recipient director abstained from voting on his or her own award. As the share awards form part of the directors’ remuneration packages, they are exempt from additional reporting, announcement or shareholder-approval requirements under Chapter 14A of the Hong Kong Listing Rules.
Financial impact Because the awards vest immediately, their fair value will be recognised as an expense in full in the company’s profit or loss for the current period.
Rationale The Board cited the need to recognise historical contributions, enhance retention and align executive and shareholder interests as the principal reasons for granting the awards without performance conditions or vesting delays.