Group 1 - The core point of the announcement is the approval of the employee stock ownership plan (ESOP) by the board of directors, aimed at enhancing the company's governance and competitiveness while motivating employees [1][2][3] - The board meeting was held on August 28, 2025, with all five directors present, and the proposal for the ESOP received four votes in favor, with one director abstaining due to potential conflict of interest [1][2] - The ESOP is set to be submitted for approval at the company's first extraordinary general meeting of shareholders in 2025 [2][3] Group 2 - The company plans to implement the ESOP in accordance with relevant laws and regulations, including the Company Law and Securities Law, and has drafted the "2025 Employee Stock Ownership Plan (Draft)" [2][3] - The board has proposed to authorize itself to handle all matters related to the ESOP, including establishment, changes, and termination of the plan, as well as decisions regarding stock lock-up and release [3][4] - The board also approved the appointment of Mr. Yang Shuai as the company secretary, with a term lasting until the end of the current board's tenure [5][6] Group 3 - The company has scheduled its first extraordinary general meeting of shareholders for September 15, 2025, to discuss the ESOP and other matters [5][6] - The board's resolutions from the meeting, including the ESOP and the appointment of the company secretary, will be made available for public review [5][6]

Core Viewpoint - The company has approved the implementation of the 2025 Employee Stock Ownership Plan (ESOP) to enhance corporate governance, employee cohesion, and competitiveness, while attracting and retaining talented management for sustainable development [1][2]. Summary by Relevant Sections - The company convened the 13th meeting of the 9th Supervisory Board on August 28, 2025, to review the ESOP proposal, ensuring compliance with relevant laws and regulations [1]. - The Supervisory Board confirmed that the ESOP draft aligns with the guidelines and does not involve any coercive participation or financial assistance to employees [1][2]. - The decision-making process for the ESOP was deemed legal and effective, with the proposal set to be submitted for shareholder approval [2].

Group 1 - The core viewpoint of the announcement is the approval of the 2025 Employee Stock Ownership Plan (ESOP) by the Supervisory Board, which aims to enhance corporate governance and attract talent [2][3] - The Supervisory Board meeting was held on August 28, 2025, with all three members present, and the meeting complied with relevant laws and regulations [1] - The proposal for the ESOP received unanimous approval with 3 votes in favor, indicating strong support from the Supervisory Board [2] Group 2 - The implementation of the 2025 ESOP is expected to improve the company's governance structure and establish a long-term incentive mechanism [2] - The management measures for the ESOP are designed to ensure its smooth implementation and compliance with regulations, contributing to the company's sustainable development [2] - The detailed content of the ESOP will be published on the Giant Tide Information Network, and the proposal will be submitted for approval at the company's first extraordinary general meeting of shareholders in 2025 [2][3]

Core Viewpoint - The independent financial advisory report outlines the employee stock ownership plan (ESOP) for Huanyu Century, emphasizing its role in retaining core talent and aligning employee interests with company performance [3][10][11]. Summary by Sections 1. Basic Principles of the Employee Stock Ownership Plan - The ESOP will be implemented in compliance with legal regulations, ensuring voluntary participation without coercion [3][4]. - Participants bear their own risks and profits, maintaining equal rights with other investors [3][4]. 2. Participants and Standards - Eligible participants include company directors (excluding independent directors), senior management, and other core personnel, with a maximum of 35 participants [4][5]. - The total shares held by the ESOP cannot exceed 10% of the company's total equity, and individual holdings are capped at 1% [5][6]. 3. Scale, Source, and Pricing of the ESOP - The ESOP involves a maximum of 10,116,700 shares, representing 1.0313% of the company's total equity [5][6]. - Shares will be sourced from the company's repurchased stock, with a repurchase budget of RMB 30 million to 50 million at a maximum price of RMB 4.2 per share [6][7]. - The subscription price for the shares is set at RMB 2.45 per share, ensuring it is not lower than 50% of the average trading price prior to the plan's announcement [8][10]. 4. Duration, Lock-up Period, and Performance Assessment - The ESOP has a lock-up period of 12 months, with performance assessments based on company revenue growth targets [11][13]. - The company aims for a revenue growth rate of no less than 20% for 2025 [13][14]. 5. Management Model - The ESOP will be managed internally, with a management committee overseeing daily operations and representing participants' rights [16][20]. - The management committee is responsible for convening meetings, managing assets, and ensuring compliance with regulations [20][21]. 6. Changes, Termination, and Rights of Participants - Any changes to the ESOP require approval from two-thirds of the participants and the board of directors [25][26]. - Participants have rights to dividends and other shareholder benefits, but cannot transfer or pledge their shares during the lock-up period [27][28].

Core Viewpoint - The legal opinion letter from Beijing Hairun Tianrui Law Firm confirms that Huanyu Century Joint Stock Company is qualified to implement its 2025 Employee Stock Ownership Plan (ESOP) and that the plan complies with relevant laws and regulations [1][19]. Group 1: Company Qualification - Huanyu Century is a legally established and effectively existing joint-stock company listed on the Shenzhen Stock Exchange, meeting the qualifications required by the "Guiding Opinions on the Pilot Implementation of Employee Stock Ownership Plans by Listed Companies" [7][19]. - The company has a registered capital of 980.98 million RMB and operates in various sectors including film and television production, artist management, and software development [7]. Group 2: Legality and Compliance of the ESOP - The ESOP has undergone necessary internal review procedures as per legal and regulatory requirements, ensuring no insider trading or market manipulation occurs [8][9]. - Participation in the ESOP is voluntary for employees, with no forced distribution or financial assistance from the company, aligning with the self-determination principle [9][12]. - The plan allows for a maximum of 35 participants, including 4 directors and senior management, adhering to the stipulated regulations [11]. Group 3: Legal Procedures - The company has completed the necessary legal procedures for the ESOP, including employee consultations and board approvals, in compliance with relevant regulations [14][15]. - The ESOP is set to last for 24 months with a lock-up period of 12 months, which is consistent with regulatory requirements [13]. Group 4: Information Disclosure - The company has disclosed relevant resolutions and documents related to the ESOP as required by law, ensuring transparency in the process [19].

Meeting Information - The first extraordinary general meeting of shareholders for 2025 will be held on September 15, 2025 [1] - The meeting is convened by the board of directors of Huanyu Century Joint Stock Company [1] - The meeting complies with relevant regulations and company bylaws [1] Voting Details - Shareholders can vote through a combination of on-site and online voting [1] - Online voting will be available from September 15, 2025, 9:15 AM to 3:00 PM [1] - The record date for shareholders eligible to attend the meeting is September 10, 2025 [2] Attendance and Registration - All shareholders registered with China Securities Depository and Clearing Corporation Limited by the record date can attend [2] - Registration for attendance must be completed between September 11 and September 14, 2025 [5] - The meeting will take place at a specified location in Beijing [2] Proposals for Discussion - The proposals to be discussed at the meeting have been approved by the board and supervisory board [5] - Specific details regarding the proposals will be available in prior announcements [5] Proxy Voting - Shareholders can appoint a proxy to attend and vote on their behalf [2] - Proxies do not need to be shareholders of the company [2] Online Voting Process - Detailed procedures for participating in online voting are provided [8] - Shareholders must authenticate their identity to vote online [8]

Core Viewpoint - The company has approved the 2025 employee stock ownership plan, which aims to enhance corporate governance, employee cohesion, and competitiveness, while attracting and retaining talented management for sustainable development [1][2]. Summary by Relevant Sections - The 2025 employee stock ownership plan draft complies with relevant laws and regulations, including the "Guiding Opinions on the Pilot Implementation of Employee Stock Ownership Plans for Listed Companies" and the "Self-Regulatory Guidelines for Main Board Listed Companies" [1]. - The plan does not involve any actions that could harm the interests of the company or its shareholders, such as forced participation or financial assistance to participants [1]. - The decision-making process for the employee stock ownership plan is deemed legal and effective, with the proposal submitted to the board of directors for further review [2].

Core Viewpoint - The company is implementing an employee stock ownership plan (ESOP) aimed at enhancing employee engagement, improving corporate governance, and aligning employee interests with those of shareholders [5][12][33]. Group 1: Employee Stock Ownership Plan Overview - The ESOP will involve a maximum of 10,116,700 shares, representing approximately 1.0313% of the company's total share capital [3][8]. - The plan allows for participation by up to 35 employees, including 4 directors and senior management [7][12]. - The lock-up period for the shares is set at 12 months from the date the last share is transferred to the ESOP [13][14]. Group 2: Objectives and Principles - The primary objective of the ESOP is to establish a profit-sharing mechanism between employees and shareholders, thereby enhancing the company's competitiveness and sustainability [5][12]. - The plan adheres to principles of legality, voluntary participation, and risk-bearing by participants [6][12]. Group 3: Financial Aspects - The funding for the ESOP will come from employees' legal salaries and self-raised funds, with no financial assistance provided by the company [10][12]. - The subscription price for the shares is set at 2.45 RMB per share, based on the average trading price prior to the announcement of the plan [10][13]. Group 4: Performance Assessment - The performance assessment for the ESOP will be based on the company's revenue growth target of at least 20% for the year 2025 [15][16]. - Individual performance will also be evaluated, with a tiered unlocking mechanism for shares based on performance results [17][18]. Group 5: Governance and Management - The ESOP will be managed by a management committee elected by the participants, ensuring that the interests of the participants are safeguarded [20][27]. - The management committee will oversee daily operations and represent the participants in exercising shareholder rights [20][27]. Group 6: Legal and Compliance - The ESOP is designed in compliance with relevant laws and regulations, including the Company Law and Securities Law of the People's Republic of China [5][6]. - The plan includes provisions for the handling of shares in the event of changes in the company's control or other significant corporate events [27][30].

Core Viewpoint - The company has appointed Mr. Yang Shuai as the new Secretary of the Board, effective from the date of the board meeting on August 28, 2025, until the end of the current board's term [1][2]. Group 1: Appointment Details - The appointment was approved during the 19th meeting of the 9th Board of Directors [1]. - Mr. Yang Shuai has completed the necessary training and has been recognized by the Shenzhen Stock Exchange, meeting all regulatory requirements [1][2]. Group 2: Candidate Background - Mr. Yang Shuai, born in 1988, holds a master's degree and has previous experience as a Senior Investment Manager at Guangzhou Wento Investment Holdings Co., Ltd. and as a Securities Affairs Representative at Zhongwen Online Group Co., Ltd. [2]. - He does not have any shareholding in the company and has no connections with major shareholders or the controlling entity [2]. - Mr. Yang has not faced any penalties from the China Securities Regulatory Commission or other relevant authorities, and he is not listed as a "dishonest executor" by the Supreme People's Court [2].

Core Viewpoint - The company is implementing an employee stock ownership plan (ESOP) aimed at enhancing employee engagement, improving corporate governance, and aligning the interests of employees and shareholders for sustainable growth [5][12][31] Summary by Sections Employee Stock Ownership Plan Objectives - The ESOP is designed to establish a profit-sharing mechanism between employees and shareholders, improve governance, and enhance employee motivation and creativity [5][12] Basic Principles of the ESOP - The plan adheres to legal compliance, voluntary participation, and risk-bearing principles, ensuring that employees participate willingly and assume their own investment risks [6][12] Participants and Allocation - The plan allows for a maximum of 35 participants, including 4 directors and senior management, with total shares not exceeding 10% of the company's total equity [7][8] Scale and Source of Shares - The ESOP involves a maximum of 10,116,700 shares, representing approximately 1.0313% of the company's total equity, sourced from shares repurchased by the company [8][9] Subscription Price - The subscription price for the shares is set at 2.45 CNY per share, based on the average trading price prior to the announcement of the ESOP [10][12] Lock-up Period and Performance Assessment - The lock-up period for the shares is 12 months, with performance assessments tied to company revenue growth targets, specifically a minimum of 20% growth in 2025 [13][15] Management and Governance - The ESOP will be managed by a committee elected by the participants, ensuring that the interests of the participants are safeguarded and that the plan operates transparently [18][24] Changes and Termination of the ESOP - Any changes to the ESOP require a two-thirds majority approval from the participants, and the plan can be terminated under specific conditions, such as changes in company control [25][27] Rights and Obligations of Participants - Participants have rights to vote in meetings, receive dividends, and must comply with the plan's regulations, including restrictions on transferring their shares [26][28]