Jinko Power(SH:601778) Zheng Quan Zhi Xing·2025-06-30 16:33Core Viewpoint - The company, Jinko Power Technology Co., Ltd., has proposed a revised employee stock ownership plan aimed at enhancing employee engagement and aligning their interests with the company's long-term goals. The plan is designed to attract and retain talent while ensuring compliance with relevant laws and regulations [1][2][3]. Summary by Sections General Principles - The employee stock ownership plan is established to create a profit-sharing mechanism between employees and owners, responding to national calls for common prosperity and enhancing company competitiveness [8][9]. - Participation in the plan is voluntary, and the company will not impose mandatory participation on employees [2][10]. Participants and Scope - The plan targets a maximum of 150 participants, including directors, supervisors, senior management, and other key personnel [10][11]. - The funding for the plan will come from employees' legal salaries, self-raised funds, and other legally permitted sources, with no financial assistance provided by the company [3][17]. Stock Source and Pricing - The stocks for the plan will be sourced from shares repurchased by the company, totaling 28.9092 million shares already completed and additional shares planned for repurchase with a total fund not exceeding 200 million yuan and not less than 100 million yuan [3][11][17]. - The average purchase price for the initial allocation of shares is set at 2.40 yuan per share, which is below the market price at the time of the plan's announcement [19][20]. Duration and Lock-up Period - The plan will have a duration of 60 months from the date the last share is transferred to the plan, with a lock-up period of 12 months during which trading is prohibited [5][21]. - The vesting of shares will occur in three phases based on the company's performance and individual assessments [5][31]. Performance Assessment - The performance assessment for the vesting of shares is based on company-level and individual-level metrics, with specific growth targets set for net profit over the assessment periods [31][32]. - The first vesting period requires a net profit growth rate of at least 50% compared to 2022, with subsequent periods having progressively higher targets [31][32]. Management and Governance - A management committee will oversee the plan, representing the interests of the participants and ensuring compliance with regulations [7][28]. - The committee will manage the daily operations of the plan and make decisions regarding the distribution of shares and any necessary adjustments [28][30].