Great Wall Motor to repurchase, cancel restricted stock

Great Wall Motor Co., Ltd. (SSE:601633) announced its plan to repurchase and cancel 587,352 restricted shares initially granted under its 2023 restricted stock incentive plan, citing departures and demotions of certain incentive recipients. The repurchase price is set at CNY13.31 per share, plus accrued bank deposit interest based on People's Bank of China rates. This decision, approved by the board on April 16, 2025, aligns with the company's long-term incentive mechanism. In related news, the company also announced that the first exercise period for its 2023 stock option incentive plan is now in effect, with 1,036 eligible participants set to exercise rights for 18,948,783 shares. Furthermore, GWM stated its intention to cancel 257,623 of granted but unexercised options in order to reduce registered capital, for which it is notifying creditors.