Hengli Petrochemical extends employee stock plan, adjusts key details

Hengli Petrochemical (SSE:600346) announced the extension and adjustment of its Sixth Employee Stock Ownership Plan, initially slated to end in May 2025, with shareholder approval. The plan's duration is now extended to 60 months, with related modifications to termination and equity disposal methods. The company attributes the extension to its confidence in its continued stable development, despite market volatility impacting the plan's original performance. These updates ensure alignment with the recently released "Management Rules for Company Directors, Supervisors and Senior Management Holding Shares in the Company", issued in May 2024 by the China Securities Regulatory Commission (CSRC).