Yinchuan Weili Transmission Technology (SZ:300904) Zheng Quan Zhi Xing·2025-07-17 12:16Core Viewpoint - The announcement details that the first lock-up period of the 2024 employee stock ownership plan of Yinchuan Weili Transmission Technology Co., Ltd. has not met the performance assessment targets, resulting in no shares being unlocked during this period [1][3]. Group 1: Employee Stock Ownership Plan Overview - The 2024 employee stock ownership plan was approved during meetings held on July 2, 2024, and July 18, 2024, with relevant resolutions passed [1]. - The plan involves a total of 335,366 shares, which represents 0.46% of the company's total share capital, transferred to the employee stock ownership plan on July 30, 2024 [2]. - The plan has a duration of 48 months, starting from July 30, 2024, and ending on July 29, 2028 [2]. Group 2: Performance Assessment and Future Arrangements - The first lock-up period's performance assessment did not meet the required targets, resulting in a 0% unlock rate and 67,074 shares remaining locked [3]. - The management committee will sell the unallocated shares and return the original investment amount to the holders, with any remaining profits belonging to the company [3]. - The plan remains in effect, and the company will adhere to market trading rules and relevant regulations regarding stock trading [4]. Group 3: Plan Changes and Termination - Any changes to the employee stock ownership plan require approval from at least two-thirds of the holders and must be submitted to the board for review [4]. - The plan can be terminated early if all assets are transferred to individual accounts or if the assets are entirely in cash, subject to the same two-thirds approval requirement [4]. Group 4: Ongoing Monitoring - The company will continuously monitor the implementation of the employee stock ownership plan and fulfill its information disclosure obligations in accordance with relevant laws and regulations [4].