QINIU grants 23.51 million existing shares to directors and employees under 2025 award scheme

Bulletin Express04-24

Qiniu Limited (QINIU) has approved the distribution of 23.51 million existing shares to 44 eligible participants through its 2025 Share Award (Existing Shares) Scheme. The grant, resolved by the Board on 24 April 2026 and effective 25 April 2026, carries no purchase price for recipients and involves no new share issuance, eliminating dilution for current shareholders.

Key allocation • Directors: 13.60 million shares—8.90 million to Chairman and CEO Xu Shiwei and 4.70 million to Executive Director and COO Chen Yiling. • Other employees: 9.91 million shares.

Valuation and capital impact Based on the closing price of HK$0.47 on 24 April 2026, the aggregate market value of the grant equals HK$11.05 million, representing approximately 1.17 % of the company’s issued share capital. After this grant, 176.15 million shares remain available for future awards under the scheme.

Vesting structure • 0.80 million shares will vest in four equal tranches beginning between December 2026 and March 2027, followed by annual vesting on the first, second and third anniversaries of the initial vesting date. • 22.71 million shares, including all awards to directors, will vest in full on the second anniversary of the grant date, with the Board retaining discretion to accelerate vesting.

Performance conditions and clawback No performance targets are attached, reflecting the Board’s assessment of past and expected contributions from the grantees. All awards are subject to a clawback mechanism covering financial restatements, mis-assessed targets, disqualification, breach of scheme terms or regulatory requirements.

Governance and compliance Independent non-executive directors have approved the grants to connected persons Xu Shiwei and Chen Yiling. As these allocations form part of their remuneration packages, they are exempt from additional reporting or shareholder approval under Hong Kong Listing Rules.

Funding method The Trustee acquired the shares on-market using the company’s cash resources; no financial assistance was extended to participants.

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