Hoshine Silicon industry unveils 2025 employee stock ownership plan

Shanghai Jingtiancheng Law Firm has issued a legal opinion on Hoshine Silicon Industry Co., Ltd.'s 2025 employee stock ownership plan (ESOP), which was developed in compliance with relevant securities regulations. The company has completed the necessary internal approvals, including resolutions from the board of directors, supervisory board, and employee representative assembly, and the ESOP is now set to be submitted for shareholder approval.

The 2025 ESOP's funding will come from an incentive fund, a floating portion of employees' legal remuneration. The plan will utilize up to 3.3 million shares of A-shares repurchased by the company for the ESOP special account, representing approximately 0.28% of the company's total share capital of 1,182,206,941 shares.

The ESOP's duration will not exceed 48 months, calculated from the date the last batch of shares is transferred to the plan's name. A lock-up period of 12 months will apply from the last share transfer date, extending until January 1, 2027, whichever is longer, and shares will vest in two tranches based on participants' 2026 annual performance assessment.