Wuxi Shangji Automation launches 2025 employee stock ownership plan

Wuxi Shangji Automation has initiated its 2025 employee stock ownership plan, encompassing 3,888,698 shares, or 0.57% of the company's total share capital. The plan will be funded by employee self-financing and other legal sources, with shares acquired through the company's A-share repurchase account. The plan features a 36-month lock-up period for the initial grant and a 24-month lock-up period for reserved shares, commencing from the date shares are transferred to the plan.

Performance targets for the initial grant span from 2025 to 2027, requiring either a 40%, 50%, and 60% increase in operating revenue for the respective years or net profit turning profitable, followed by 10% increases in 2026 and 2027. The reserved portion has similar targets for 2026 and 2027. Employee participation, encompassing no more than 75 individuals, will be overseen by a management committee.

Concurrently, the company announced the cancellation of its supervisory board, transferring its functions to the board's audit committee, and amended its articles of association. Ji Fuhua has been elected as an employee director, ensuring the board maintains the same number of members.