Yuehai Feeds Group(SZ:001313) Zheng Quan Zhi Xing·2025-09-04 10:18Core Viewpoint - Guangdong Yuehai Feed Group Co., Ltd. has implemented an employee stock ownership plan (ESOP) for 2025, which was approved in board and shareholder meetings, aiming to enhance employee motivation and align their interests with the company's long-term goals [1][2]. Group 1: Employee Stock Ownership Plan Details - The ESOP involves the transfer of 7,479,800 shares to employees, representing 70.56% of the planned stock quantity and approximately 1.07% of the company's total equity [4]. - The shares for the ESOP are sourced from the company's repurchased A-shares, with a total repurchase range of 10 million to 20 million shares at a maximum price of RMB 10.00 per share [2][3]. - The total funds raised from the ESOP amount to RMB 5,886.60 million, with each share purchased at RMB 7.87 [5]. Group 2: Stock Repurchase and Transfer - As of January 17, 2025, the company has repurchased a total of 10,600,068 shares, accounting for 1.51% of the total equity, with an average price of RMB 6.44 per share [3]. - The non-trading transfer of shares to the ESOP was completed on September 3, 2025, with the remaining shares in the repurchase account totaling 3,120,268 shares [6]. Group 3: Governance and Independence - The ESOP is governed by a meeting of holders, which elects a management committee to oversee daily operations, ensuring independence from the company's major shareholders and executives [7]. - There are no agreements or arrangements for concerted action between the ESOP and the company's directors, supervisors, or senior management [7]. Group 4: Accounting Treatment and Impact - The accounting treatment for the ESOP will follow the relevant accounting standards, impacting costs and capital reserves, with final results to be confirmed by annual audit reports [7].