Longking adjusts stock option price, extends employee stock ownership plan

Fujian Longking (SSE:600388) announced adjustments to its 2024 stock option incentive plan and the extension of its eighth employee stock ownership plan. The exercise price for the stock options has been adjusted from CNY12.23 to CNY11.95 per share, following the approval of the 2024 profit distribution plan which included a cash dividend of CNY0.28 per share. The company's 2024 annual general meeting approved a total dividend payout of CNY355,612,962.04, representing 42.82% of the net profit attributable to shareholders. In a separate announcement, Longking extended the eighth employee stock ownership plan for an additional six months, pushing the expiration date to December 6, 2025. This extension, approved by both the board and plan participants, aligns with the company's regulations allowing for extensions up to six months at a time. The stock ownership plan holds 8,132,600 shares acquired in 2021.