Xinyu Iron & Steel adjusts, grants A-share incentive plan

Xinyu Iron & Steel (SSE:600782) has announced adjustments and the initial grant of its A-share restricted stock incentive plan, according to filings. The company's board of directors approved the changes on June 25, following shareholder authorization. Originally approved in late 2024 and reconfirmed in April 2025, the plan experienced revisions due to 25 employees leaving the company or voluntarily forfeiting their rights, resulting in the cancellation of 6.13 million shares. Consequently, the number of recipients was adjusted from 177 to 152, with the total grant revised from 4.45 million to 3.837 million shares, of which 3.689 million was granted at a price of CNY2.15 per share on June 25, 2025. The incentive plan aims to motivate key personnel, including directors, senior management, and core staff, by aligning their interests with the company's performance. The company's board affirmed that all conditions for the grant were met, and the supervisory board confirmed eligibility of the recipients. The plan's impact on company financials will be spread over several years, with costs of CNY921,330 in 2025, CNY1,792,850 in 2026, CNY1,370,580 in 2027, CNY689,610 in 2028, and CNY205,780 in 2029.