LHG(SH:600186) Zheng Quan Zhi Xing·2025-08-29 17:25Core Points - The company has established an employee stock ownership plan (ESOP) aimed at enhancing employee engagement and aligning their interests with shareholders [6][12][35] - The plan allows a maximum of 300 employees, including 11 directors and senior management, to participate, with a total of 8.85 million shares allocated, representing 0.49% of the company's total share capital [2][12][13] - The stock acquired through the plan will be locked for 12 months before being fully unlocked, contingent on the company's performance metrics [3][14][17] Summary by Sections Purpose and Principles - The ESOP aims to improve corporate governance, enhance employee cohesion, and boost the company's competitiveness by sharing profits with employees [6][12] - Participation is voluntary, and the company will not force employees to join the plan [6][12] Participants and Standards - Eligible participants include key employees who have made significant contributions to the company, excluding independent directors and major shareholders [8][12] - The total number of participants is capped at 300, with the board having the authority to adjust the list based on performance evaluations [8][12] Funding and Stock Acquisition - The funding for the ESOP will come from employees' legal salaries and a special incentive fund, with no financial assistance provided by the company [9][12] - The stock will be sourced from shares repurchased by the company, with a total of 24.97 million shares repurchased, accounting for 1.39% of the total share capital [9][12] Pricing and Valuation - The purchase price for the shares under the ESOP is set at 3.17 yuan per share, based on a valuation that considers the average trading price prior to the announcement [10][12] - The pricing strategy is designed to align with the company's performance and incentivize long-term commitment from key personnel [11][12] Distribution and Management - The plan stipulates that 25% of the shares will be held by directors and senior management, while 75% will be allocated to core employees [13][12] - A management committee will oversee the plan, ensuring compliance with regulations and protecting the interests of participants [19][12] Performance Assessment - The ESOP includes performance assessments at both the company and individual levels, with specific targets set for revenue and net profit growth [16][17] - If performance targets are not met, participants may lose their rights to unlock shares [17][12] Duration and Lock-up Period - The ESOP will remain in effect until the last share is transferred, with the possibility of extension upon approval [14][12] - Shares will be locked for 12 months post-acquisition, with specific conditions for unlocking based on performance [14][12] Rights and Obligations - Participants have the right to attend meetings and vote based on their shareholdings, while also being obligated to adhere to the plan's rules [32][12] - The company is responsible for maintaining transparency and fulfilling its obligations under the plan [32][12]