Great Wall Motor cancels stock options under incentive plan

Great Wall Motor Company (SSE:601633) announced the completion of the cancellation of 6,625,588 stock options initially granted under its 2023 stock option incentive plan. The decision, ratified at the company's board and supervisory meetings on March 31, 2025, stems from terminations, role changes, demotions, or unsatisfactory performance evaluations of certain incentive recipients. The cancellation process, finalized on April 7, 2025, after submission to and confirmation by the Shanghai branch of China Securities Depository and Clearing Corporation Limited, will not affect the company’s capital structure or its compliance with listing requirements. Great Wall Motor states that the cancellation will not impact the continued execution of the 2023 stock option incentive plan or significantly affect the company's operating performance.