Sany Heavy Industry moves forward with 2025 stock plan

Hunan Qiyuan Law Firm has issued a legal opinion affirming that Sany Heavy Industry's (SSE:600031) proposed 2025 employee stock ownership plan is compliant with relevant Chinese laws and regulations. The plan, involving up to 5,552 participants including directors, supervisors, senior management, and key personnel, adheres to principles of voluntary participation and risk-bearing. Funding will be sourced from employee incentive bonuses, with stock derived from the company’s repurchase account. The plan's duration is set for 72 months, with a 12-month lock-up period. The total value of the plan will not exceed CNY 535,331,979. Following approval by the board and supervisory committee, the plan will now be submitted to a shareholder meeting for further deliberation and approval.