SHGBIT(SH:603918) Zheng Quan Zhi Xing·2025-05-09 11:01Core Viewpoint - The announcement highlights the impending expiration of the second employee stock ownership plan of Shanghai Jinqiao Information Co., Ltd., which is set to end on November 13, 2025, and outlines the relevant details regarding the plan's implementation and performance metrics [1][3]. Summary by Sections Employee Stock Ownership Plan Overview - The second employee stock ownership plan was approved by the board on August 2, 2023, and August 18, 2023, with a maximum of 111 participants, including directors, supervisors, senior management, and key employees [1]. - The plan involves the repurchase of up to 1,940,889 shares at a price of 12.88 yuan per share, representing approximately 0.53% of the company's total share capital of 366,746,078 shares [1]. Stock Transfer and Participation - On November 13, 2023, the company transferred 1,851,608 shares to the employee stock ownership plan account at a price of 12.88 yuan per share, with 106 employees participating and contributing a total of 23,848,711.04 yuan [2]. - The shares acquired represent 0.50% of the company's total share capital at that time [2]. Performance Assessment - The performance target for the plan was set at a minimum 30% increase in revenue for 2023 compared to 2022. However, the actual revenue for 2023 was 932.0215 million yuan, reflecting only a 7.90% increase, thus the performance target was not met [3]. - As a result, the company will handle the corresponding shares according to the regulations governing the employee stock ownership plan [3]. Plan Duration and Modifications - The plan's duration is defined from the date of the last stock transfer until its expiration, with provisions for extension upon board approval [5]. - Changes to the plan require a two-thirds majority consent from the participants and board approval [5]. Future Arrangements - The shares currently held in the employee stock ownership plan account will be used for future employee stock plans or may be repurchased and canceled by the company [3][6]. - The company will continue to monitor the implementation of the employee stock ownership plan and fulfill its disclosure obligations as required [6].