Chunfeng Power concludes 2024 employee stock ownership plan

Zhejiang Chunfeng Power Co., Ltd. has announced the full sale of shares under its 2024 employee stock ownership plan (ESOP), effectively concluding the scheme. The plan, approved by the board in October and November 2021, involved the purchase of 87,700 A-shares.

The shares were acquired through the Shanghai Stock Exchange's centralized bidding system, representing 0.0579% of the company's total share capital at the time. The total transaction amounted to RMB 11,831,700, with an average purchase price of RMB 134.91 per share. The shares were subject to a 12-month lock-up period, which expired on August 16, 2025.

Chunfeng Power emphasized that the 2024 ESOP adhered strictly to market trading rules and regulatory guidelines, avoiding any insider trading. With the completion of the share sales, the plan is now terminated.