Great Wall Motor to repurchase and cancel restricted shares

Great Wall Motor Co., Ltd. (SSE:601633) is set to repurchase and cancel a total of 587,352 restricted shares, according to a legal opinion issued by Beijing Jincheng Tongda Law Firm. The decision stems from the departure and demotion of 11 incentive recipients, rendering them ineligible for certain shares under the terms of the 2023 equity incentive plan. Specifically, 6 employees left the company before the vesting period and 5 were demoted. The repurchase price is set at CNY 13.31 per share, inclusive of applicable bank interest. Following the repurchase and cancellation, the remaining restricted shares under the incentive plan will total 30,928,300 shares. The repurchase and cancellation is expected to be completed by June 16, 2025, through a dedicated repurchase account at China Securities Depository and Clearing Corporation Limited Shanghai Branch.