DELTON (01989.HK): terminates A-share and H-share incentive plans, citing sharp share price volatility and no shareholder approval

NewTimeSpace News: On 9 November 2026, Delton Technology (Guangzhou) Inc. (01989.HK) announced that at the seventh meeting of its third session of the board held on 9 November 2026, the board resolved to approve the termination of the A-share incentive plan and the H-share incentive plan, effective from the date of the announcement. The plans were originally proposed for adoption in the Company's announcement dated 29 September 2026.

The Company stated that, in view of the relatively large fluctuation in its share price recently, and after taking into comprehensive account the prevailing capital market environment, the Company's actual operating conditions and future development plans, the board decided to terminate the implementation of the share incentive plans after prudent deliberation so as to effectively safeguard the overall interests of the Company and all shareholders and to ensure the Company's long-term steady development. The Company has not obtained shareholder approval for the adoption of the share incentive plans, and will not convene a shareholders' meeting to seek such approval, and therefore no circular will be despatched.

The directors (including the independent non-executive directors) consider that the termination of the share incentive plans is fair and reasonable and in the overall interests of the Company and its shareholders, and that it will not have any material adverse impact on the Company's daily business operations, nor will it affect the diligence and loyalty of the Company's core management and core technical (business) personnel. In respect of the board resolution to terminate the H-share incentive plan, Mr. Xiao Hongxing, Ms. Zeng Hong, Mr. Peng Jinghui and Ms. Liu Jinchan, being the executive directors and a non-executive director, were required to abstain from voting and have abstained from voting. Save as disclosed above, no director has a material interest in the above resolution.