Wanma Co., Ltd. announced that the conditions for lifting the sales restrictions were not fulfilled during the third period of lifting the sales restrictions in the 2023 restricted stock incentive plan. It plans to repurchase and cancel the first time and reserve grants a total of 3,5094 million restricted stock shares to 180 incentive recipients that have been granted but have not yet been lifted, accounting for 0.347% of the current total share capital. The reasons for the repurchase included the departure of 28 incentive recipients, the company's 2025 performance failure, and the failure to fully meet the individual performance assessments of 4 incentive recipients. Due to the implementation of equity distribution in 2025, the repurchase price for the first time after the adjustment was 4.892 yuan/share, the reserved grant was 4.23 yuan/share, and the repurchase capital was the company's own capital. The matter still needs to be reviewed by the shareholders' meeting.

Wanma Co., Ltd. announced that the conditions for lifting the sales restrictions were not fulfilled during the third period of lifting the sales restrictions in the 2023 restricted stock incentive plan. It plans to repurchase and cancel the first time and reserve grants a total of 3,5094 million restricted stock shares to 180 incentive recipients that have been granted but have not yet been lifted, accounting for 0.347% of the current total share capital. The reasons for the repurchase included the departure of 28 incentive recipients, the company's 2025 performance failure, and the failure to fully meet the individual performance assessments of 4 incentive recipients. Due to the implementation of equity distribution in 2025, the repurchase price for the first time after the adjustment was 4.892 yuan/share, the reserved grant was 4.23 yuan/share, and the repurchase capital was the company's own capital. The matter still needs to be reviewed by the shareholders' meeting.