Huabao International Holdings Limited (Stock Code: 00336) announced on 28 November 2025 that its principal subsidiary, Huabao Flavours & Fragrances Co., Ltd. (“Huabao Flavours”), has approved the grant of a total of 18,100,000 restricted shares to 135 participants. These participants include directors, senior management, and core technical and business personnel of Huabao Flavours and its controlled subsidiaries.
According to the announcement, the purchase price for the restricted shares is RMB9.57 per share, compared to the closing price of RMB17.48 on the grant date. The restricted shares are set to vest in three tranches—30%, 30%, and 40%—over 12-month intervals, with the final tranche expected to vest by the 48th month. The vesting is subject to specific revenue growth requirements based on the subsidiary’s performance from 2025 to 2028, as well as individual performance assessments. The total number of restricted shares granted represents approximately 2.94% of Huabao Flavours’ total issued shares as of the grant date.
The announcement also states that 1,000,000 shares remain available for future grants under Huabao Flavours’ restricted share incentive scheme, representing around 5.24% of the total mandate limit. Huabao International’s board indicated that the grant aims to attract and retain key personnel, supporting the long-term sustainable growth of the subsidiary and contributing to the Group’s overall development.
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