MGI(SH:688114) Zheng Quan Zhi Xing·2025-08-22 16:48Core Viewpoint - Shenzhen BGI Intelligent Manufacturing Technology Co., Ltd. has proposed a 2024 employee stock ownership plan aimed at aligning the interests of employees and shareholders, enhancing corporate governance, and promoting long-term sustainable development [3][10][21]. Summary by Sections 1. Purpose and Principles of the Plan - The employee stock ownership plan is designed to establish a profit-sharing mechanism between employees and shareholders, improve corporate governance, and enhance employee motivation and creativity [10][11]. - Participation in the plan is voluntary, and the company will not impose mandatory participation on employees [11][12]. 2. Participants and Eligibility - The plan will include a maximum of 35 employees, consisting of directors (excluding independent directors), supervisors, senior management, and core business personnel [4][12]. - The selection of participants will be based on their contributions to the company's core business and strategic direction [15]. 3. Funding and Stock Source - The total funding for the plan will not exceed RMB 37.7868 million, with each unit priced at RMB 1.00 [4][13]. - The shares will be sourced from the company's repurchased A-shares, with a maximum holding of 1.445 million shares, accounting for 0.35% of the total share capital [5][18]. 4. Pricing and Valuation - The share purchase price is set at RMB 26.15 per share, which is based on the average trading price prior to the announcement of the plan [15][16]. - The pricing strategy aims to ensure fairness and reasonableness, reflecting the company's operational status and industry conditions [16]. 5. Lock-up and Vesting Period - The plan has a duration of 48 months, with shares vesting in two phases: 50% after 12 months and the remaining 50% after 24 months [6][20]. - The vesting of shares is contingent upon the company's performance and individual assessments of the participants [20][21]. 6. Management and Governance - The plan will be managed by a dedicated management committee, which will oversee daily operations and represent the interests of the participants [24][25]. - The management committee is responsible for ensuring compliance with legal and regulatory requirements and safeguarding the rights of the participants [25][29]. 7. Performance Assessment - The performance assessment will be based on company-wide revenue growth and individual performance metrics, with specific targets set for the years 2024 and 2025 [21][22]. - The assessment results will determine the unlock ratios for the shares, aligning employee incentives with company performance [22][23].