XGIMI(SH:688696) Shang Hai Zheng Quan Bao·2025-09-12 20:35Core Viewpoint - The first lock-up period of the 2024 employee stock ownership plan of the company has ended, and the conditions for unlocking have been met, allowing for the distribution of shares to eligible employees [1][6]. Summary by Sections Implementation of the Employee Stock Ownership Plan - The employee stock ownership plan was approved during a staff representative meeting on May 13, 2024, and subsequently by the board of directors and supervisory committee [2]. - The plan was further ratified at the annual shareholders' meeting on June 7, 2024 [2]. Stock Purchase and Lock-up Period - On September 14, 2024, the company completed the purchase of 3,430,000 shares, representing 4.90% of the total share capital of 70,000,000 shares [3]. - The shares are subject to a three-phase unlocking schedule, with 50%, 30%, and 20% of the shares unlocking at 12, 24, and 36 months, respectively [6]. Unlocking Conditions and Results - The first lock-up period ended on September 13, 2025, with 1,715,000 shares eligible for unlocking, which is 50% of the total shares in the plan and 2.45% of the company's total share capital [6][7]. - All 208 participants in the plan achieved a performance rating of B- or above, allowing for a 100% unlocking ratio for each individual [7]. Future Arrangements and Trading Restrictions - Following the unlocking, the management committee will distribute the rights according to the plan's provisions and market conditions [7]. - The plan will adhere to trading restrictions during sensitive periods, including 15 days before annual and semi-annual reports and 5 days before quarterly reports [7][8]. Committee's Opinion - The board's compensation and assessment committee confirmed that the unlocking conditions were met and that the decision-making process was compliant with regulations, ensuring no harm to the interests of shareholders, especially minority shareholders [8].