BROAD-OCEAN MOTOR(SZ:002249) Shang Hai Zheng Quan Bao·2025-11-25 19:22Core Viewpoint - The company has successfully completed the non-trading transfer of shares under its 2025 Employee Stock Ownership Plan (ESOP), utilizing shares repurchased from the market for employee participation [1][3]. Group 1: Employee Stock Ownership Plan Details - The 2025 ESOP was approved by the board and shareholders, allowing the company to implement the plan using shares from its repurchase account [1][2]. - The total number of shares involved in the ESOP is 9,031,300, which represents 0.37% of the company's total share capital [3][7]. - The shares were transferred to a dedicated securities account for the ESOP on November 24, 2025, following the completion of the repurchase [7]. Group 2: Share Repurchase Program - The company approved a share repurchase plan with a budget between RMB 120 million and RMB 200 million, with a maximum repurchase price initially set at RMB 7 per share, later adjusted to RMB 6.77 [2]. - The repurchase was completed by October 27, 2025, with a total of 16,080,700 shares acquired, amounting to RMB 129.78 million [3][4]. - The maximum price for repurchased shares was adjusted multiple times due to the company's dividend distribution plans [2]. Group 3: Funding and Participation - The ESOP's funding comes from employees' legal salaries, self-raised funds, and other legally permitted sources, with a total funding target of up to RMB 37.13 million [6]. - A total of 71 employees participated in the ESOP, with the final share price set at RMB 3.98 per share after adjustments [6][7]. - The plan allows for shares to be unlocked in three phases based on the company's performance, with specific percentages allocated at each unlock date [7]. Group 4: Related Party Transactions - The company's actual controllers did not participate in the ESOP, ensuring no conflicts of interest [8]. - Certain directors and senior management are involved in the ESOP, but they have waived voting rights associated with the shares [8][9]. - The ESOP operates independently from other employee stock plans, ensuring clear governance and accounting practices [9][10]. Group 5: Accounting Treatment - The company will follow the accounting standards for share-based payments, recognizing the impact of the ESOP on its financial results based on annual audit reports [10].