Xin Lang Cai Jing·2025-09-11 11:07Core Viewpoint - Great Wall Motors has announced a plan to repurchase and cancel certain restricted stocks due to the departure of some incentive recipients, as part of its 2023 stock incentive plan [1][3]. Group 1: Compliance and Approval Process - On December 12, 2023, Great Wall Motors held its eighth board meeting and supervisory board meeting, where relevant proposals for the incentive plan were approved [2]. - The company will hold a series of meetings in January 2024 to further review and approve the related proposals [2]. - On July 9, 2025, the board approved the repurchase and cancellation proposal, and a notice was issued to creditors on July 10, 2025, indicating no creditor claims had been filed by the date of the legal opinion [2]. Group 2: Details of Repurchase and Cancellation - The repurchase is due to 12 initial incentive recipients and 9 reserved incentive recipients leaving the company before the end of the lock-up period, making them ineligible for the incentive [3]. - A total of 1,075,400 shares will be repurchased, including 554,400 shares from the initial grant and 521,000 shares from the reserved grant [3]. - The repurchase price for the initial grant shares is set at 12.86 yuan per share, while the reserved grant shares will be repurchased at 12.29 yuan per share, with interest added as per regulations [3]. - The company has opened a dedicated securities account for the repurchase and expects to complete the cancellation by September 16, 2025 [3].