Huaguang Welding(SH:688379) Zheng Quan Zhi Xing·2025-07-24 16:20Core Viewpoint - The company has approved the allocation of reserved shares for the 2024 employee stock ownership plan, allowing up to 110 eligible participants to subscribe to a total of 413,000 shares at a price of 9.73 yuan per share [1][4][6]. Summary by Sections Employee Stock Ownership Plan Approval - The board of directors and the supervisory board have approved the employee stock ownership plan for 2024, which does not require shareholder meeting approval due to prior authorization [1][2]. - Legal opinions have been obtained confirming the compliance of the plan with relevant regulations [1][11]. Reserved Shares Allocation - The total number of reserved shares available for the 2024 employee stock ownership plan is 400,000 shares, with an additional 13,000 shares recovered from departing employees, bringing the total to 413,000 shares [3][4]. - The allocation will be made to eligible participants, excluding independent directors, with a maximum of 30% of the total shares allocated to directors, supervisors, and senior management [6][10]. Lock-up Period and Performance Assessment - The lock-up period for the reserved shares is set at 12 months, after which the shares will be unlocked in a single transaction [7]. - Performance assessment for the reserved shares will be based on the company's net profit for the year 2025, with specific targets set for unlocking the shares [8][9]. Compliance and Legal Opinions - The remuneration and assessment committee has confirmed that the allocation of reserved shares complies with the company's employee stock ownership plan and relevant laws, ensuring no harm to the interests of the company and its shareholders [10][11]. - Legal opinions affirm that the necessary approvals and authorizations for the plan have been obtained, and the company must fulfill its information disclosure obligations [11].