China Yuchai International Limited announced on March 21, 2025, that an equity incentive plan was approved by shareholders of its main operating subsidiary, Yuchai, and implemented by Guangxi SKY Cloud Technology Co., Ltd. (Sky Cloud), a wholly-owned subsidiary of Yuchai.
The Equity Plan involves an increase in Sky Cloud's registered capital by RMB 1.25 million, corresponding to a 20% interest of the enlarged registered capital. This interest will be granted in two phases to selected employees, directors, and senior officers of Sky Cloud.
Phase One will amount to RMB 1,080,002 at a subscription price of RMB 1 per RMB 1 registered capital of Sky Cloud. The remaining interest will be granted in Phase Two by June 30, 2027, at a subscription price of 80% of the latest audited net assets value or RMB 1, whichever is higher. The Company expects the impact of share-based expenses on its profit and loss account to be immaterial.
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