Group 1 - The core point of the news is that BYD has completed the sale of all shares held under its 2022 employee stock ownership plan through centralized bidding, in compliance with relevant regulations [1] - The employee stock ownership plan was approved in meetings held on April 22, 2022, and May 27, 2022, with details disclosed in various announcements [1] - The first lock-up period of the employee stock ownership plan ended on July 15, 2023, with performance indicators met, and subsequent lock-up periods are scheduled for July 15, 2024, and July 15, 2025 [1] Group 2 - The company aims to attract and retain talented management and key personnel through the establishment of long-term incentive mechanisms and employee benefit-sharing mechanisms, with new employee stock ownership plans approved for 2024 and 2025 [2]

Core Viewpoint - The company has successfully achieved the conditions for the first exercise period of its 2024 stock option incentive plan, allowing 47 eligible participants to exercise a total of 678,041 stock options at a price of 11.25 yuan per share [4][19][42]. Group 1: Board Meeting Details - The third meeting of the company's third board of directors was held on June 5, 2025, with all 9 directors present [2][3]. - The meeting was legally valid and complied with relevant laws and regulations [3]. Group 2: Resolutions Passed - The board approved the proposal regarding the achievement of exercise conditions for the first exercise period of the 2024 stock option incentive plan, allowing 47 participants to exercise 678,041 options at 11.25 yuan each [4][19][42]. - The board also approved adjustments to the list of initial grant recipients, reducing the number from 50 to 49 and the total number of options from 1.95 million to 1.93 million due to one participant's departure and performance assessments [6][7][36]. Group 3: Legal and Financial Advisory - Legal opinions and independent financial advisory reports were obtained to ensure compliance with regulations regarding the stock option plan [6][14][47]. - The independent financial advisor confirmed that the conditions for the first exercise period had been met and that the arrangements were legally valid [47][48]. Group 4: Impact on Financials - If all options are exercised, the company's net assets will increase by approximately 7.628 million yuan, and the total number of shares will increase by 678,041 [42][43]. - The exercise of options will not significantly impact the company's shareholding structure or its compliance with listing requirements [43].