Huizhong(SZ:300371) Zheng Quan Zhi Xing·2025-05-19 09:49Core Viewpoint - The company has successfully completed the first phase of its long-term employee stock ownership plan, involving the transfer of repurchased shares to a dedicated account for employee ownership [1][5]. Summary by Sections Employee Stock Ownership Plan Implementation - The company held meetings on February 28, 2025, and March 17, 2025, to approve the employee stock ownership plan and its related proposals [1]. - The plan involves shares sourced from the company's repurchase account, with a total of 1,803,059 shares designated for the plan [3][5]. Share Repurchase Details - The company completed a share repurchase program using its own funds, acquiring a total of 788,539 shares, which is 0.3919% of the total share capital, at prices ranging from 13.75 to 14.88 RMB per share, totaling approximately 10.99 million RMB [2]. - A subsequent repurchase was conducted, resulting in the acquisition of additional shares at a maximum price of 8.88 RMB per share, totaling approximately 9.27 million RMB [3]. Share Transfer and Accounting Treatment - As of May 19, 2025, all 1,803,059 shares have been transferred to the employee stock ownership plan's dedicated account at a price of 5.15 RMB per share, representing 0.8961% of the total share capital [5]. - The plan has a duration of 36 months, with a maximum lock-up period of 24 months for the shares acquired [5]. - The company will follow accounting standards for equity-settled share-based payments, ensuring that the implementation of the plan does not significantly impact annual performance during the lock-up period [6]. Independence and Governance - Participants in the employee stock ownership plan will forfeit voting rights associated with the shares, maintaining independence from the company's major shareholders and management [5].