ST Cnlight plans to terminate the 2023 stock option incentive plan and cancel 35 million options

On September 26, 2025, Cnlight held the 14th meeting of the 7th Board of Directors, reviewing and approving the proposal to terminate the 2023 stock option incentive plan and cancel 35 million stock options that had been granted but not exercised, along with the related supporting documents. Since the implementation of this incentive plan in March 2023, changes in the external market environment and business adjustments have made it impossible to cover core personnel as originally planned, making it difficult to achieve the expected results. This cancellation involves 76 incentive recipients, and the termination matter still requires approval from the shareholders' meeting. The company stated that terminating the plan complies with regulations, will not harm shareholder interests, or affect daily operations, and will subsequently optimize the compensation and assessment mechanisms. The company promised that it would not review the equity incentive plan again within three months from the announcement of the shareholders' meeting resolution