JNCEC Further Reduces Exercise Prices of H-Share Appreciation Rights Following 2025 Dividend Declaration

Bulletin Express06-29 21:05

Beijing Jingneng Clean Energy Co., Limited (JNCEC) announced a second downward adjustment to the exercise prices of its H-Share Appreciation Rights Scheme after approving a RMB0.18 per-share 2025 dividend at the 29 June 2026 annual general meeting.

The scheme’s mechanism mandates a price revision whenever cash dividends are distributed. The latest adjustment deducts the combined RMB0.1377 final dividend and RMB0.0423 one-off special dividend from the prices previously set in the first adjustment completed on 12 November 2025. The new exercise prices are:

• First Grant (2 Feb 2024): reduced from RMB1.1072 to RMB0.9272 per share.

• First Reserved Grant (28 May 2024): reduced from RMB1.5672 to RMB1.3872 per share.

• Second Reserved Grant (31 Oct 2024): reduced from RMB1.6370 to RMB1.4570 per share.

The revised prices will apply to all incentive recipients exercising rights on or after the ex-dividend date of 29 June 2026. Future dividends declared for fiscal 2026 will trigger further reductions on a pro-rata basis.

Management stated that the adjustment complies with the approved scheme terms, has completed all required procedures, and will not materially affect JNCEC’s financial position or operating results.

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