SA(SH:601021) Zheng Quan Zhi Xing·2025-08-29 17:02Core Viewpoint - The company has established an employee stock ownership plan (ESOP) to enhance employee engagement and align their interests with those of shareholders, ensuring compliance with relevant laws and regulations [1][2]. Group 1: Principles of the Employee Stock Ownership Plan - The ESOP is based on the principles of legal compliance, voluntary participation, and risk-bearing by employees [1][2]. - Employees are encouraged to participate voluntarily, and the company will not impose mandatory participation [1][2]. - Participants are responsible for their own investment risks, ensuring equality with other investors [1][2]. Group 2: Implementation Procedures - The ESOP requires approval from the shareholders' meeting, with necessary disclosures and independent opinions provided [2]. - The plan will be implemented after receiving majority approval from the shareholders [2]. - Monthly updates on the ESOP's progress will be disclosed, including details on stock acquisition [2][4]. Group 3: Funding and Stock Sources - Funding for the ESOP will come from employees' legal salaries, self-raised funds, and other legally permitted sources [4]. - The plan will acquire stocks through a qualified asset management institution after shareholder approval, with a maximum asset scale of 31.34 million [4]. Group 4: Duration and Lock-up Period - The ESOP will commence upon the transfer of stocks to the asset management plan and will terminate if not extended [5]. - The lock-up period will last until performance evaluations are completed, with stocks being unlocked in four phases based on annual performance ratings from 2021 to 2024 [5][6]. Group 5: Management and Governance - A management committee elected by the ESOP participants will oversee the plan, ensuring daily management and representing participants' interests [7][8]. - The committee is responsible for convening meetings, managing assets, and ensuring compliance with the plan's regulations [8][12]. Group 6: Rights and Obligations of Participants - Participants have rights to the assets of the ESOP proportional to their holdings and must comply with the plan's rules [15][16]. - Participants are prohibited from transferring their shares without committee approval and must adhere to legal and regulatory obligations [15][16]. Group 7: Changes and Termination of the Plan - Any changes to the ESOP require a two-thirds majority approval from participants and subsequent board approval [17]. - The plan can be terminated early if all stocks are sold or if two-thirds of participants agree [17][19].