Cheng Haijin 4

What Happened
Director Cheng Haijin reported exercise/conversion of derivative securities (transaction code M) on May 9, 2026. The filing shows 45 shares were acquired at $0.00 and 1,350 shares were disposed at $0.00. The filing reports no cash value for these transactions.

Key Details

• Transaction date: 2026-05-09; Form 4 filed: 2026-05-11 (timely filing).
• Transaction code: M (exercise or conversion of a derivative).
• Reported amounts/prices: 45 shares acquired @ $0.00; 1,350 shares disposed @ $0.00.
• Shares owned after transaction: Not stated in the filing.
• Footnote F1: Counts reflect an ADS ratio change effective April 22, 2026 (1 ADS now = 30 Class A ordinary shares).
• Footnote F2: Each "Restricted Share" is a contingent right to receive one Class A ordinary share upon settlement.
• No market value/cash received is reported on the Form 4 for these items.

Context
"M" indicates exercise or conversion of a derivative (e.g., option, warrant, restricted share/unit conversion). The $0.00 reporting typically means no cash changed hands in the reported line items (for example, conversion or settlement), but the filing does not specify whether any underlying shares were sold in the open market or surrendered to cover obligations. The ADS ratio change affects reported counts — the filing's numbers are already adjusted for that change.