Core Viewpoint - China Yuchai International Limited has announced the implementation of an equity incentive plan for its subsidiary, Guangxi SKY Cloud Technology Co., Ltd., aimed at motivating employees and enhancing long-term growth [1][5]. Group 1: Equity Plan Details - The equity incentive plan involves an increase in the registered capital of Sky Cloud by RMB 1.25 million, representing a 20% interest in the enlarged registered capital [2]. - The Sky Cloud Interest will be granted in two phases, with Phase One amounting to RMB 1,080,002 at a subscription price of RMB 1 per RMB 1 registered capital [3]. - The remaining interest will be granted in Phase Two by June 30, 2027, at a subscription price of 80% of the latest audited net assets value or RMB 1, whichever is higher [3]. Group 2: Participants and Structure - Participants in the equity plan include selected employees, directors, and senior officers of Sky Cloud, who will hold interests through separate partnership vehicles [4]. - The interests will be held in different proportions according to the terms of the equity plan, which includes various lock-up restrictions [4]. Group 3: Company Overview - China Yuchai, through its subsidiary Yuchai, is a leading powertrain solution provider in China, specializing in a wide range of engines for various applications [7]. - In 2024, Yuchai sold 356,586 engines, reinforcing its position in the market [7].
China Yuchai Subsidiary Adopts Equity Incentive Plan